The Federal Reserve pushed ahead with a quarter-point rate hike on Wednesday despite recent turmoil in the banking sector, but signaled that it may end its monetary tightening campaign soon. Following its last two-day meeting, the Federal Open Market Committee voted to raise the federal funds rate to a new target range of 4.75% to…
Acquisition of the digital world (DWAC), a blank check company about to merge with former President Donald Trump’s media company, announced early Wednesday that it had fired its chief executive, Patrick Orlando. The move comes as Trump’s legal challenges approach a critical moment. DWAC stock fell. X “Due to the unprecedented headwinds the company is…
Struggling U.S. investors and corporate lawyers are preparing to fight the Swiss government over its decision to write down $17 billion of Credit Suisse bonds as part of the bank’s forced marriage to UBS. Switzerland angered bond investors when the government used an emergency order to cut bonds to zero, even as it orchestrated a…
Home Minister Amit Shah after virtually inaugurating Sharda Devi Temple at Teetwal in Kupwara Srinagar: The government will endeavor to open a corridor in Pakistani-occupied Kashmir (PoK) for Sharda Peeth pilgrimage on the Kartarpur corridor lines in Punjab. This decision will require engagement with Pakistan and the reopening of the Line of Control (LoC) at…
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Epic Games’ next big plan for the Metaverse is to unify all of its disparate asset marketplaces under one brand, Fab. The new store will include market assets Unreal Engine, Quixel Bridge, Artstation Marketplace, and Sketchfab, and Epic will give creators 88% of the store’s revenue, as it does for the Epic Games Store. “It…
400 Foot Locker stores will closePhoto: Ted Shaffrey (PA) Shoes are a necessity. Sneaker culture is a way of life. But, we’re in a moment that makes buying shoes really inconvenient. A few weeks after the iconic East Bay – a catalog that sold sneakers and sports equipment before going online – closed, Foot Locker…
WASHINGTON—The Federal Reserve raised its key short-term interest rate by a quarter percentage point Wednesday, pushing ahead with its aggressive campaign to tame inflation despite financial turmoil following Silicon Valley Bank’s collapse. Fed officials forecast another quarter point in rate increases this year to a peak range of 5% to 5.25%, in line with its…
The Federal Reserve raised its key rate by a quarter point, continuing its fight against inflation as the banking panic subsides. But new Fed forecasts indicate there is just one more rate hike as lingering concerns over the health of banks complicate policymakers’ plan to keep interest rates higher for longer . The S&P 500…
WASHINGTON: The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, but signaled that it was about to suspend further increases in borrowing costs amid recent market turmoil financial markets stimulated by the collapse of two American banks.The move set the U.S. central bank’s benchmark overnight interest rate in the…
The Federal Reserve extended its year-long fight against high inflation on Wednesday by raising its key rate by a quarter point despite concerns that higher borrowing rates could deepen the turmoil that has gripped the banking system. “The U.S. banking system is strong and resilient,” the Fed said in a written statement released after its…
