Author: Press Room

© Reuters. FILE PHOTO: U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. REUTERS/Dado Ruvic/Illustration/File Photo By Rae Wee SINGAPORE (Reuters) – The dollar fell broadly on Thursday, tracking a slide in U.S. Treasury yields as markets grew more convinced the Federal Reserve was done with its aggressive monetary policy tightening cycle after it left rates unchanged. The Fed on Wednesday held interest rates steady as widely expected, as policymakers struggled to determine whether financial conditions may be sufficiently tight to control inflation. However, Fed Chair Jerome Powell acknowledged that…

© Reuters. BlackRock (NYSE:), the investment firm associated with Larry Fink and recognized for its ETFs ESG Aladdin, is expanding its horizons by entering the rapidly growing private credit market. This strategic move adds a fresh facet to its $9.1 trillion portfolio. The private credit industry, currently valued at $1.75 trillion, has seen significant growth due to high-interest rates and strict lending standards imposed by large banks. These conditions have paved the way for investment firms or ‘shadow banks’ to provide alternative financing options to borrowers, typically at elevated interest rates. Despite the new venture, BlackRock’s stake in the private…

© Reuters. Investing.com– Oil prices jumped from a one-month low in Asian trade on Thursday as weak U.S. economic readings and middling comments from the Federal Reserve saw traders pricing in a diminished chance of more interest rate hikes, denting the dollar. Crude prices were reeling from a 10% drop in October, as investors saw a much lower risk premium from the Israel-Hamas war. Recent reports also indicated some deescalation in the conflict, as over 300 foreign nationals and injured people were allowed to leave Gaza. Prices were also pressured by fears of worsening demand in the coming months, following…

onurdongel/E+ via Getty Images Oneok (NYSE:OKE) still considers the construction of a liquefied petroleum gas export terminal on the Gulf Coast as a high priority, even as it pursues shorter-term synergies created by its recent acquisition of Magellan Midstream Partners, company executives said on Wednesday’s post-earnings conference call. “The export dock isn’t further down the list,” Oneok (OKE) VP Sheridan Swords said during the call, as reported by the Oil Price Information System, “but it’s a much longer-term project vs. others in the synergy category.” Execs on the call said the Magellan acquisition will provide Oneok (OKE) with greater prospects…

CNN  —  Here’s a look at the life of Condoleezza Rice, former US secretary of state. Birth date: November 14, 1954 Birth place: Birmingham, Alabama Birth name: Condoleezza Rice Father: John Wesley Rice Jr., minister and dean Mother: Angelena (Ray) Rice, a high school teacher Education: University of Denver, B. A., 1974; University of Notre Dame, Master’s degree, 1975; University of Denver, Ph.D., 1981 Name is from the Italian “con dolcezza” meaning “with sweetness.” She enrolled in the University of Denver at the age of 15, and graduated Phi Beta Kappa with a B.A. at the age of 19. At…

The only cancer-treating hospital in Gaza was forced to halt services after it ran out of fuel.Israeli blockades have prevented critical supplies, like fuel and food, from entering Gaza. Thousands of cancer patients are at risk after the hospital’s closing and continuing airstrikes.  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app The only hospital treating cancer in the Gaza Strip has run out of fuel and cannot continue operating amid Israeli supply blockades.Subhi Skaik, the director of the Turkish-Palestinian Friendship Hospital said in a press…

Stay informed with free updatesSimply sign up to the Global Economy myFT Digest — delivered directly to your inbox.Good morning. The US, China and 26 other countries have agreed to work together to ensure artificial intelligence is used in a “human-centric, trustworthy and responsible” way, in the first global commitment of its kind.The pledge forms part of a communiqué signed by major powers at the inaugural AI Safety Summit. The two-day event began yesterday and is being hosted by British Prime Minister Rishi Sunak at Bletchley Park. Called the Bletchley Declaration, the document recognises the “potential for serious, even catastrophic,…

© Reuters. FILE PHOTO: A bus passes the Bank of England in the City of London, Britain, February 14, 2017. REUTERS/Hannah McKay/File Photo By William Schomberg LONDON (Reuters) – The Bank of England looks set to hold borrowing costs at a 15-year high on Thursday and signal that it does not plan to cut them anytime soon as it remains locked in a battle against the most elevated inflation rate among the world’s rich economies. Despite strain in the economy that some see as a sign of a recession starting, the BoE is expected to keep Bank Rate at 5.25%…

© Reuters. FILE PHOTO: A truck drives past bales of cotton in Luis Eduardo Magalhaes, Bahia state, Brazil September 11, 2018. REUTERS/Ricardo Moraes/File Photo By Ross Kerber (Reuters) – Swiss-based sustainability group Better Cotton said on Thursday it has added new functions to a platform that big retailers use to trace materials through their supply chains.     Better Cotton said retailers including Walmart (NYSE:) and Marks and Spencer will be able to tell where cotton was grown and traded, eventually to the level of individual farms. Currently the platform tracks only the total volume of cotton produced.     Jacky Broomhead, Better…

Jennifer Miranda/iStock via Getty Images Restaurant chains McDonald’s (NYSE:MCD) and Chipotle Mexican Grill (NYSE:CMG) anticipate raising prices next year in California in order to pass on some of the hit from the U.S. state’s recent minimum wage hike for fast food workers. In late September, California governor Gavin Newsom signed legislation that will raise the minimum wage for the state’s 500K fast food workers to $20/hour in April, 2024 from around $16/hour in 2022. Newsom at that time had said that the legislation was one step closer to “fairer wages, safer and healthier working conditions, and better training.” McDonald’s (MCD)…