PARIS — Global supermarket chain Carrefour will stop selling PepsiCo products in its stores in France, Belgium, Spain and Italy over price increases for popular items like Lay’s potato chips, Quaker Oats, Lipton tea and its namesake soda. The French grocery chain said it pulled PepsiCo products from shelves in France on Thursday and added … Read more
Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on September 20, 2023 at the Federal Reserve in Washington, DC. Chip Somodevilla | Getty Images Federal Reserve Chairman Jerome Powell on Friday pushed back on market expectations for aggressive interest rate cuts ahead, calling it too … Read more
Pedestrians walk past the Reserve Bank of New Zealand headquarters in Wellington, New Zealand, on Thursday, Sept. 13, 2012. Mark Coote | Bloomberg | Getty Images The New Zealand dollar jumped 1% to nearly 0.62 against the U.S. dollar after the Reserve Bank of New Zealand held its official cash rate at 5.5% and warned that … Read more
Turkey’s Taksim Square, with the figure of Kemal Ataturk, the first president, and the Turkish flag in the background. Sopa Images | Lightrocket | Getty Images Turkey’s central bank on Thursday hiked its key interest rate, the benchmark one-week repo rate, by another 500 basis points to 40%. The hike was double economists’ expectations, who had … Read more
Federal Reserve Chair Jerome Powell signaled the central bank could hold rates steady at its next policy meeting, but he also warned that inflation was still too high and that more interest rate increases are still possible if the economy stays surprisingly hot. “Additional evidence of persistently above-trend growth, or that tightness in the labor … Read more
Novo Nordisk on Friday raised its outlook for its full-year sales and operating profit due to soaring demand for its blockbuster weight loss drug Wegovy and diabetes treatment Ozempic. The revised forecast only confirms the frenzy for those weekly injections, which patients seek for their ability to help them lose significant weight over time. Ozempic … Read more
Robert Holzmann, governor of Austria’s central bank, speaks during an event in Vienna, Austria, on Tuesday, Sept. 26, 2023. Bloomberg | Bloomberg | Getty Images Austrian central bank Governor Robert Holzmann said the European Central Bank could implement one or two further interest rate increases, if there are “additional shocks” to the economy. The hiking … Read more
Amazon packages move on a conveyer belt at a fulfillment center in England. Nathan Stirk | Getty Images Amazon is planning to hike pay for its operations workers in the U.K. and add 15,000 new staff ahead of the holidays, as the e-commerce giant prepares itself for a wave of demand ahead of Christmas. The … Read more
The Bank of Japan could be forced into hiking rates sooner than expected if the Japanese yen weakens beyond 150 to the dollar, according to Bob Michele, global head of fixed income at JP Morgan Asset Management. Higher rates could then unwind the yen carry trade and spark a return of Japanese capital to its … Read more
By Ann Saphir (Reuters) – The Federal Reserve is completed elevating rates of interest and will begin slicing them subsequent 12 months, merchants wager on Friday after a U.S. authorities report confirmed the unemployment charge rose final month and wage development cooled. Futures that settle to the Fed’s coverage charge now replicate nearly no likelihood … Read more