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  • Aug 22, 2024

Fed's Collins: will soon be appropriate to cut interest rates

It will soon be appropriate for the Federal Reserve to begin a rate-cutting cycle, Boston Fed President Susan Collins said on Thursday, signaling her likely support for a rate cut at the U.S. central bank's policy meeting next month. "We've seen quite a lot of reduction in inflation. The reduction to me is consistent with more confidence that we are on that trajectory and with labor markets healthy overall, I do think that soon it is appropriate to begin easing," Collins said in an interview with Fox Business.

  • Aug 22, 2024

Tim Draper leads $2.5 million funding round for crypto startup Ark Labs

Ark Labs, a three-month old startup developing solutions to speed up bitcoin transactions and lower costs, has raised $2.5 million in a pre-seed funding round led by billionaire investor Tim Draper. Besides venture capital firm Draper Associates, Fulgur Ventures, Axiom Capital and angel investor Stephen Cole also participated in the round, the startup said on Thursday.

  • Aug 22, 2024

Crew Evacuated From Houthi-Stricken Oil Tanker in Red Sea

(Bloomberg) -- The crew of a ship that suffered several attacks in the Red Sea has been evacuated with naval support. Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CityUK Transport Minister Clears Path for More 20mph Speed ZonesWith Self-Driving Vans, Hamburg Tries to Make Microtransit WorkThe Serious Work That Free Play Can DoDelta Tankers, which operates the Sounion, said Thursday that plans are now in place to move the vessel to a safer destinat

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