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Interest rate cliffhanger as ECB mulls hike or pause
Eurozone interest rate setters face the toughest call of their long battle against red-hot inflation Thursday, when they decide whether to raise borrowing costs again or finally pause the unprecedented hiking campaign. This would support arguments for another hike to borrowing costs, with the aim of further depressing demand and slowing inflation.
Bumper harvest calms fears of Burgundy wine bubble
It's been a bumper harvest so far in the sun-drenched Burgundy vineyards of eastern France, where some of the world's most sought-after wines are produced. "A bumper 2023 harvest would be enough."
Asian markets rose as US inflation soothes rate fears for now
A mixed US inflation report boosted Asian markets Thursday as it soothed fears of a possible Federal Reserve interest rate hike next week, though the still hot reading left open the possibility of one more before year's end. They will remain open to further rate hikes, if needed."
Chip designer Arm targets $52 bn valuation in year's largest IPO
British chip designer Arm is targeting a valuation of more than $52 billion for its initial public offering (IPO) on the Nasdaq exchange on Thursday, according to a company press release. The company, which is a world leader in smartphone chip design and is owned by the Japanese tech investor SoftBank, has announced it will list on the tech-rich Nasdaq stock exchange under the "ARM" ticker.
Former Starbucks CEO Schultz steps down from board
Starbucks said Wednesday its former chief executive Howard Schultz will step down from the coffee chain's board of directors "as part of a planned transition." In 2017, Schultz stepped aside as chief executive after his second tenure, handing the reins to Kevin Johnson.
Argentina monthly inflation highest in two decades
Argentina recorded an inflation rate of 12.4 percent in August, the highest monthly change in over two decades in a country dogged by chronic economic instability, its statistics agency said Wednesday. The last time monthly inflation hit double digits was in April 2002, when it stood at 10.4 percent.
South African township resists police over illegal power cables
A woman in a black and white dress struggled, pulling fiercely on a long electrical cable as she tried to stop the police in anti-riot gear from carrying it away. - Power for oxygen - But Marina, a local woman who gave only her first name, said some elderly people needed the electricity to power oxygen tanks.
BP shares sink after CEO quits over relationships
Shares in British energy major BP sank Wednesday after chief executive Bernard Looney resigned unexpectedly over his failure to disclose past relationships with colleagues. The company announced late Tuesday that Looney, 53, resigned "with immediate effect" after admitting he had not been "fully transparent" about historical relationships with colleagues.
Panama seeks new sources of water for canal
Panama is looking into new sources of water for the Panama Canal, which moves six percent of global maritime trade but recently had to restrict traffic due to drought, its operator said.
AFP
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