Economy / Global


Yen on intervention watch; Asia shares creep higher

Yen on intervention watch; Asia shares creep higher

The yen languished near its weakest in decades on Thursday though the threat of intervention from Japanese authorities prevented traders from pushing the currency to a new low, while Asian stocks rose ahead of a key US inflation report. Markets were largely rangebound ahead of Friday's much-antici

Visa, Mastercard reach $30b settlement over credit card fees

Visa, Mastercard reach $30b settlement over credit card fees

Visa and Mastercard reached an estimated $30 billion settlement to limit credit and debit card fees for merchants, with some savings likely to be passed on to consumers through lower prices. The antitrust settlement announced on Tuesday is one of the largest in US history, and if it receives court

Poverty in Italy hits new high despite economic recovery

Poverty in Italy hits new high despite economic recovery

The number of people living in poverty in Italy rose in 2023 to its highest level in about a decade, data showed on Monday, despite an economic rebound since COVID-linked restrictions were eased. Those living in “absolute poverty” - who were unable to buy essential goods and services -

Federal Reserve expected to cut rates, lift Biden's prospects

Federal Reserve expected to cut rates, lift Biden's prospects

The Fed could play an outsized - and potentially uncomfortable - election-year role by helping shape attitudes about stubbornly high inflation and mounting housing costs that have been a drag on Biden's reelection efforts. Rate cuts will also invite critics - Republican challenger Donald Trump chie

EU leaders to back tighter euro zone fiscal stance in 2025

EU leaders to back tighter euro zone fiscal stance in 2025

European Union leaders will back on Friday a slightly tighter fiscal policy for the euro zone next year, to help bring down inflation and make public finance more stable after the excess spending of the COVID pandemic and the energy price crisis. The endorsement comes after finance ministers of th

The great central bank policy reversal kicks off

The great central bank policy reversal kicks off

The world’s biggest central banks are on the starting line of reversing a record string of interest rate hikes but the way down for borrowing costs will look very different from the way up. There will be no floodgates or fireworks. Instead, banks on opposite sides of the Atlantic are likely