President Joe Biden delivers remarks on an agreement reached yesterday with House Speaker Kevin McCarthy to raise the national debt ceiling in the Roosevelt Room of the White House on May 28, 2023 in Washington, DC. Anna Rose Layden | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our … Read more
53 minutes ago Singapore’s Temasek cuts salaries for senior management and investment team involved in FTX Singaporean public investor Temasek has cut compensation for senior management and its investment team responsible for recommending investment in failed cryptocurrency exchange FTX. “While there was no fault on the part of the investment team in making its investment … Read more
Federally funded scientists have proposed a definition of long Covid based on symptoms identified in a large study published in the Journal of the American Medical Association. The definition is based on 12 symptoms that most separate people with a long history of Covid from people who haven’t had the coronavirus. There is still no … Read more
8 minutes ago Bank of Korea set to start cutting rates early next year, Deutsche Bank says The Bank of Korea is expected to start cutting its benchmark interest rate early next year, said Juliana Lee, head of APAC economic research at Deutsche Bank. Lee added that she expects the central bank’s policy pivot to … Read more
UK inflation data paints a picture of the UK economy. Bloomberg/Contributor/Getty Images LONDON — UK inflation fell sharply in April as energy prices retreated and the impact of Russia’s invasion of Ukraine began to fade from the annual comparison of consumer price. Headline CPI inflation stood at 8.7% year-on-year, the Office for National Statistics said … Read more
Former Federal Reserve Chairman Ben Bernanke thinks central bankers still have work to do to get inflation under control. An article by Bernanke and economist Olivier Blanchard notes that inflation has moved on since hitting a 40-year high in the summer of 2022. In a discussion of the paper, economist Jason Furman noted that fiscal … Read more
An hour ago New Zealand’s central bank is expected to hike rates by 25 basis points to 5.5% New Zealand’s central bank is expected to raise its benchmark key rates to 5.5% at its meeting on Tuesday, according to a Reuters poll of 25 economists. 21 of the economists surveyed expected a rise, while the … Read more
20 minutes ago European stocks open mixed European stocks lacked direction on Monday morning as investors awaited the latest news on US debt ceiling talks, with the Stoxx 600 index up 0.07% at 8:12 a.m. London time. Mining, oil & gas and banking stocks suffered the worst losses, all down around 0.5%. Household goods and … Read more
30 minutes ago South Korea’s exports fall 16.1% year-on-year in May 1-20 South Korea’s exports fell 16.1% in the first 20 days of May from the same period a year ago, its customs agency said. Imports over the same period also fell 15.3% year-on-year. The value of exports for the first 20 days amounted to … Read more
The holidays are a break from the office, but emails follow us everywhere – if we let them. Solar22 | Istock | Getty Images Should you check your emails on vacation or face a tsunami of messages back at work? For workers at war with their inboxes, neither is a great option. This is why … Read more
