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US businesses 'hesitant' before 2024 elections: Federal Reserve
Uncertainty about the upcoming US elections had cooled economic activity across the country, the Federal Reserve said Wednesday, noting that many businesses and consumers were pausing major decisions until after Election Day.
BHP denies responsibility for 2015 Brazil mine disaster at London trial
Australian mining giant BHP on Wednesday denied responsibility for a 2015 dam collapse in Brazil, one of the country's worst environmental disasters, as it opened its defence at the High Court in London. The Australian mining giant has also said that the quality of river water contaminated by the fallout has returned to pre-disaster levels.
Lagarde says ECB should be careful with rise in emerging currencies
The European Central Bank should keep a close eye on the rise in emerging currencies like the Chinese yuan, its President Christine Lagarde said Wednesday at an event in Washington.
US existing home sales slip in September to near 14-year low
Sales of previously owned US homes slowed to their lowest rate in nearly 14 years last month, according to industry data released Wednesday, despite cooler mortgage rates. Part of the reason home sales have been stalling is that existing homeowners are reluctant to enter the market after having locked in lower mortgage rates previously.
Bank of Canada cuts rates, says fight against inflation 'worked'
Canada's central bank cut its key interest rate by half a point Wednesday, reducing it to 3.75 percent and offering borrowers further relief as it claimed the battle against inflation had proven successful.
China should use fiscal policy to boost growth: IMF
The Chinese government should use its tax-and-spend policies to help boost flagging economic growth, a senior IMF official told AFP ahead of key meetings this week in Washington.
Wolfspeed and ZF put German chip factory on ice
US chipmaker Wolfspeed and the auto supplier ZF have put plans for a semiconductor factory in Germany on ice, local officials said Wednesday, striking another blow to Berlin's chipmaking ambitions. The delay to the factory, which was intended to break ground next year, comes after other planned investments by chipmakers in Germany have been thrown up in the air.
Boeing reports $6.2 bn loss on strike, defense contract woes
Boeing reported a whopping $6.2 billion quarterly loss Wednesday as a nearly six-week labor strike weighed on its commercial plane division and costly problems dragged down its defense and space business.
Don't let tech gurus decide the future: Nobel winner Simon Johnson
Should our future by decided by the bosses of big tech firms? Is more regulation of Big Tech needed?
AFP
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