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  • Aug 22, 2024

What to look for at Fed's Jackson Hole symposium

Central bankers from around the world fly into Jackson Hole, Wyoming, this week to attend what has become the globe's premier economic gathering, the Kansas City Federal Reserve's annual symposium in Grand Teton National Park. The event draws keen investor attention, and - depending on what the world's most influential monetary policymakers say in formal remarks and in interviews on the sidelines - sometimes delivers a rough ride for markets. In recent years the guest list of about 120 has included most of the Fed's 19 policymakers, and a few dozen central bankers from Europe, Asia, Africa, the Americas and elsewhere.

  • Aug 22, 2024

Saudi Arabia’s Sales From Oil Exports Drop to Three-Year Low

(Bloomberg) -- Saudi Arabia’s revenue from oil exports has slumped to the lowest level in three years, caused by a drop in prices and the kingdom’s decision to curb production.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 DoSales from shipments of crude oil and refined products fell to $1

  • Aug 22, 2024

France's Macron to discuss AI and economy on trip to Serbia

French President Emmanuel Macron will use a trip to Serbia at the end of this month to discuss strengthening economic ties between the countries and Serbia's role in the AI sector, Macron's office said on Thursday. Serbia has positioned itself as a regional leader in AI research and will chair the Global Partnership on Artificial Intelligence - an initiative set up by Macron and Canadian Prime Minister Justin Trudeau to oversee the responsible development of AI - in 2025. Macron will hold talks with Serbian President Aleksandar Vucic during his trip to the country from August 29-August 30, added the French presidency.

  • Aug 22, 2024

French Economy Gets Olympic Boost as Germany’s Malaise Deepens

(Bloomberg) -- French services expanded at the fastest pace in more than two years, driving Europe’s second-biggest economy as visitors from around the world flocked to Paris for the Olympic Games.Most Read from BloombergThe Serious Work That Free Play Can DoS&P Global’s Purchasing Managers’ Index for the sector surged to 55 in August from 50.1 in July, far above the 50 threshold that divides growth from contraction and the median estimate of 50.3 in a Bloomberg survey.A gauge for the private se

  • Aug 22, 2024

Labor dispute stops Canadian freight railroads and could cause major economic disruption in US

Both of Canada’s major freight railroads have come to a full stop because of a contract dispute with their workers, an impasse that could bring significant economic harm to businesses and consumers in Canada and the U.S. if the trains don’t resume running soon. Canadian National and CPKC railroads both locked out their employees after the deadline of 12:01 a.m. Eastern Thursday passed without new agreements with the Teamsters Canada Rail Conference that represents some 10,000 engineers, conductors and dispatchers. All rail traffic in Canada and all shipments crossing the U.S. border have stopped, although CPKC and CN’s trains will continue to operate in the U.S. and Mexico.

  • Aug 22, 2024

Bangladesh to hike interest rates to 9% in coming days to tame inflation, cbank chief tells BBC

The move comes after weeks of political unrest in the country fuelled a sharp rise in inflation, touching 11.66% in July, amid an ongoing struggle with shrinking reserves and exports from the mainstay garments industry taking a hit. Bangladesh Bank's new governor, Ahsan H. Mansur, appointed just a week ago, also said that he would raise interest rates further to 10% or more in the coming months. Mansur could not be immediately reached for a comment.

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