Goldman Sachs still expects stubbornly high U.S. inflation to ease over the coming months, despite investors slashing bets for Federal Reserve interest rate cuts, after yet another print showed that consumer prices remain sticky. The consumer price index accelerated at a faster-than-expected pace in March, according to data published on Wednesday by the Labor Department’s … Read more
Cleveland Federal Reserve President Loretta Mester said Tuesday she still expects interest rate cuts this year, but ruled out the next policy meeting in May. Mester also indicated that the long-run path is higher than policymakers had previously thought. The central bank official noted progress made on inflation while the economy has continued to grow. … Read more
An EE mobile phone store, operated by BT Group, in Reading, U.K. in 2020. Jason Alden | Bloomberg | Getty Images BARCELONA, Spain — British telecommunications giant BT says it expects to launch its first so-called stand-alone 5G network in 2024. Howard Watson, BT’s chief technology officer, told CNBC that the telco group plans to … Read more
A group of former customers of bankrupt crypto exchange FTX are rebelling against a proposed plan that would return the entirety of the money they lost. In a lawsuit filed this week, the customers argue they are due a whole lot more. The plan laid out by FTX in December to return customer funds does … Read more
Raphael Bostic at Jackson Hole, Wyoming David A. Grogan | CNBC Atlanta Federal Reserve President Raphael Bostic expects policymakers to start cutting rates in the third quarter of this year, saying Thursday that inflation is well on its way back to the central bank’s goal. Bostic, a voting member this year on the rate-setting Federal … Read more
Samsung is the world’s biggest maker of memory chips. Jakub Porzycki | Nurphoto | Getty Images Samsung Electronics on Tuesday said it expects to post a 35% drop in operating profit in the fourth quarter of 2023, missing expectations by a wide margin as a rebound in semiconductor prices likely narrowed losses in the South … Read more
Apple’s iPhone 15 series devices are displayed for sale at The Grove Apple retail store on release day in Los Angeles on Sept. 22, 2023. Patrick T. Fallon | AFP | Getty Images Apple supplier and lead iPhone assembler Foxconn on Friday reported a revenue drop for the final quarter of 2023 and said it … Read more
Hibs boss Nick Montgomery says his players will be braced for nothing less than a “fiery” derby when rivals Hearts visit Easter Road on Wednesday night. After a run of matches away from home, sixth-placed Hibs return to Easter Road for a derby with a difference under the lights, live on Sky Sports Football and … Read more
After blunting Ukraine’s counteroffensive from the summer, Russia is building up its resources for a new stage of the war over the winter, which could involve trying to extend its gains in the east and deal significant blows to the country’s vital infrastructure. Russian President Vladimir Putin seems to be hoping that relentless military pressure, … Read more
FRANKFORT, Ky. (AP) — Kentucky Lt. Gov. Jacqueline Coleman underwent a double mastectomy on Monday after concerns were raised during a routine medical examination, her office announced. The Democrat said she expects to make a full recovery. The surgery occurred less than a week after Coleman and Gov. Andy Beshear were sworn in for second … Read more