During his semiannual testimony in front of Congress, Federal Reserve chair Jerome Powell warned that keeping the interest rates high could have undesired consequences on the US economy.
In his prepared marks, Powell said that the economy remains strong despite a softening job market while there are clear signs of...
With the company determined to meet its COVID-19 vaccine delivery targets, pharmaceutical giant Johnson & Johnson has revealed that it is expected to report some much-anticipated data on its vaccine early next week.
Eager to fulfill the obligations of its already-signed agreements, Johnson & Johnson's shares rose by around 3.4%...
Saudi Arabia revealed plans for the development of its new national airline targeting international travelers, thereby gearing up to compete head-to-head with existing Middle Eastern rivals Emirates and Qatar Airways. According to two sources familiar with the matter, the new airline is expected to provide all new international flight...
With online spending on Black Friday rising by 21.6% to $9 billion this year, Cyber Monday has been projected to be the biggest online shopping day to date. With sales estimates being projected to be anywhere between $10.8 billion and $12.7 billion, the NYSE has seen some major movements...
Hong Kong Health Secretary Sophia Chan announced on Wednesday that the city plans to ease coronavirus restrictions from February 18th onwards. This will see the reopening of sports and entertainment facilities as well as the extension of dining hours in restaurants.
While catering businesses will be permitted to remain open...
Technology conglomerate Alphabet, the parent company of Google and multiple former Google subsidiaries, released its quarterly earnings statement on Tuesday and revealed some big news in the process. Aside from reporting a 36 percent increase in profit in the last three months of 2021, the company also unveiled plans...
The government of Peru has agreed to purchase an initial batch of one million COVID-19 vaccines from Chinese pharmaceutical company Sinopharm for a sum of $26 million. This is the first part of a deal to buy 38 million doses from the Chinese company.
While the nation’s vaccine program has...
On Wednesday, the Federal Reserve shared minutes from the July meeting of its Federal Open Market Committee. The minutes show that most officials expressed willingness to make a rate cut in September if the inflation data continues to be favorable.
According to the summary, “the vast majority observed that, if...
Investment management company Blackstone Group Inc. has agreed to the purchase of a life insurance business from Allstate Corp. for a sum of $2.8 billion. This deal is part of Blackstone's plan to expand its market share in the insurance industry.
This deal comes as Allstate continues pursuing its goal...