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Economy

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Beverly Hills Puts Emphasis On Art In BOLD Summer 2019 Plans

The City of Beverly Hills is gearing up for a jam-packed summer of bold events in conjunction with its BOLD (Beverly Hills Open Later Days) summer programming.

Mexico’s Economy Shrinks In First Quarter with New President

Mexican President Andres Manuel Lopez Obrador got two troubling pieces of news Tuesday as the economy registered a surprise contraction in his first quarter in office and state oil company Pemex posted a steep loss.

Venezuelans Brace as Controversial Bank Notes Target Hyper Inflation

Venezuelans reacted nervously on Monday as President Nicolas Maduro rolled out his radical new plan to curb spiraling hyperinflation by slashing five zeros off the oil-rich, cash-poor country's crippled currency.

Tariffs, Tariff Threats, Talks: Trump Faces Key Week on Trade

The United States on Monday launched into a key week for trade policy, with Washington due to slap fresh tariffs on a host of Chinese goods even as it holds hearings to target thousands more.

Stocks Enjoy Global Rally in Wake of UK Johnson’s Resignation

A global stocks rally gathered steam Monday, fueled by economic optimism, while the British foreign minister's sudden resignation over Brexit depressed the pound.

US Federal Reserve Raises Key Interest Rate 1.75-2.0 Percent

 The US Federal Reserve raised the benchmark lending rate on Wednesday, the second increase of the year, and signaled two more hikes were coming in 2018 and four in 2019, a possible sign of concern about accelerating inflation.

Global Stock Market Shrugs Off Comey Firing

Wall Street stocks took news of US President Donald Trump's shock firing of FBI director James Comey in stride Wednesday, with the S&P 500 and Nasdaq finishing with modest gains.

Trump Rolls Back Oil Industry Anti-Corruption Regulations

President Donald Trump on Tuesday signed into law a measure scrapping anticorruption regulations long opposed by the oil industry.

US Stocks Take Modest Hit As Feds Raise Interest Rates

Wall Street stocks fell modestly and the dollar advanced after the Federal Reserve Wednesday lifted its benchmark interest rate for only the second time in a decade.

US Fed Raises Key Interest Rates as Economy Improves

The US Federal Reserve on Wednesday raised the benchmark interest rate by a quarter percentage point as expected, citing an improving economy with one month to go before President-elect Donald Trump takes office.

U.S. and European Stocks Soaring to Record-Breaking Highs, Reflects Growing Optimism

(AFP ) European equities surged and US stocks hit fresh records Wednesday in anticipation the European Central Bank will extend its stimulus, and amid optimism about the American economy after the presidential election.

Federal Prosecutors Open Probe into Wells Fargo Bogus Bank Accounts

 Federal prosecutors have begun a probe into the Wells Fargo bogus accounts scandal, the Wall Street Journal reported Wednesday.

Dollar Gains On Currency Markets After Encouraging Jobs Data

The dollar strengthened Wednesday against major currencies, including the euro and the pound, following the release of encouraging jobs data.

Dow Ends Week of Gains with New Record High 18,516.55 Close

 Strong US retail sales lifted the Dow to a fourth straight record Friday as global equity markets finished a big week of gains on a muted note.

Pound Surges as Bank of England Leaves Interest Rates Untouched after Brexit Vote

 The pound surged Thursday after the Bank of England unexpectedly left interest rates unchanged following the Brexit vote but signaled a rate cut could come at its August meeting.

S&P Downgrades UK AAA Credit Rating Post Brexit Vote

 Ratings agency Standard & Poor's removed the United Kingdom's coveted AAA status on Monday because of its vote to leave the European Union, downgrading it by two notches with a long-term negative outlook.
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