Bank of England Governor Andrew Bailey is set to acknowledge the progress made in reducing inflation in the U.K. at a speech in Jackson Hole, Wyoming, but he will also highlight the challenges that may require monetary policy to remain restrictive for a longer period than anticipated. Bailey is expected to mention that headline inflation
World
Deutsche Bank recently announced that it has reached settlements with nearly 60% of the plaintiffs involved in a case regarding the underpayment for its acquisition of Postbank over a decade ago. The agreements with over 80 plaintiffs involve a settlement amount of 31 euros per share, as proposed by the bank. This move is expected
The Asia-Pacific markets experienced a decline on Wednesday following the halt of the eight-day winning streak of U.S. benchmark indexes, the S&P 500 and the Nasdaq Composite. The S&P 500 saw a decrease of 0.2%, while the Nasdaq Composite slipped by 0.33%. The Dow Jones Industrial Average also dropped by 0.15%. If the S&P had
The recent sinking of the luxury yacht “Bayesian” off the coast of Sicily has sent shockwaves through the business and legal communities, with prominent figures such as Jonathan Bloomer, the chairman of Morgan Stanley International, and Chris Morvillo, a lawyer at Clifford Chance, among those still missing. Both Bloomer and Morvillo were on board the
The recent report from CNBC Daily Open highlights the resilience of the market, with Wall Street experiencing its best week in 2024 after a previously tumultuous period. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all saw significant gains, signaling a positive turnaround in the market sentiment. The yield on the 10-year Treasury
The conflict between Ukraine and Russia escalated on Saturday, with Ukraine making advances into Russia’s Kursk border region. The State Emergency Service in Ukraine reported that a Russian missile struck Sumy, causing a fire that injured two individuals and damaged cars and buildings. The use of Iskander-K cruise missiles and aerial bombs was noted in
Russia’s foreign ministry recently accused Ukraine of using Western rockets, specifically U.S.-made HIMARS, to destroy a bridge over the Seym river in the Kursk region. The attack resulted in the death of volunteers who were assisting in the evacuation of civilians. This marked the first time the Kursk region had been targeted with Western-made rocket
Deutsche Bank finds itself in the midst of a long-running legal battle surrounding its acquisition of German retail banking giant Postbank in the late 2000s. The crux of the challenge against the German lender is that it underpaid for the acquisition, sparking legal action that has been ongoing since 2010. The case has attracted hundreds
The latest report from the National Bureau of Statistics in China paints a mixed picture of the country’s economic outlook. While retail sales exceeded expectations with a growth of 2.7% in July, industrial production fell short of forecasts at 5.1%. This discrepancy between the two key indicators suggests a lack of balance in the Chinese
The Asia-Pacific markets saw gains on Wednesday following the release of lower-than-expected producer prices in the U.S. The producer price index for July only increased by 0.1%, contrary to economists’ expectations of a 0.2% rise. This news provided a boost to investor sentiment in the region. In South Korea, the unemployment rate dropped to 2.5%,
