Asian markets squeezed out gains Tuesday, giving investors some relief from a recent sell-off fuelled by worries that US interest rates will go higher than feared following last week's blockbuster jobs report. He told Bloomberg News: "I would expect that that would translate into us raising interest rates more than I have projected right now."
A top contender to run the US Federal Reserve threw his support Thursday behind a quarter-point rate cut later this month, claiming he believed inflation would soon cool. Cooling growth would support another cut, while doing so if the labor market strengthens could would risk reigniting inflation.
The Armani Group on Thursday named a senior manager who worked alongside Giorgio Armani to take over as chief executive of the luxury empire following the designer's death. For the past six years he had been reporting directly to Armani as deputy general manager and global chief commercial officer of the group.
Russian President Vladimir Putin said Thursday that his country was still among the world's top oil producers, despite what he called "unfair" anti-competitive practices used against it. "Russia maintains its position as one of the leading oil producers, despite the use of unfair competition mechanisms against us," Putin said.
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