BUSINESS

'True balance': Japan's quiet telework revolution

The dollar consolidated near a two-decade high on Friday as traders flirted with the prospect of a 100 basis point rate hike by the Federal Reserve later this month, while the euro was pinned near parity.

The U.S. dollar held at a two-decade high on Friday as a broad wave of risk aversion swept through global markets, with traders flirting with the prospect of a 100 basis point rate hike by the Federal Reserve later this month.

The dollar hovered below a near two-decade high in Asian trading on Friday, having slipped overnight after two Federal Reserve policymakers said they favored a smaller rate rise than the 100 basis-points that investors were betting on.

Beijing has dug its heels in on a zero-Covid policy of stamping out virus clusters with snap lockdowns and long quarantines, but this has battered businesses and kept consumers jittery.

Global equities rebounded on Friday as U.S. spending data beat forecasts, while the dollar dipped and oil rose as investors digested an easing of Italy's political crisis and tempered expectations of a more aggressive U.S.

European stocks rose on Friday and Wall Street was tipped for a firmer open as risks appeared to ease of an immediate political crisis in Italy and two Fed policymakers hosed down expectations of a more aggressive U.S.

Airlines' fragile recovery from Covid

Aviation buzzing for return of Farnborough airshow

The helmets were given out as replacements for Sakar's multipurpose helmets that were recalled last March.

Omanyala heads to world athletics as organisers cope with US visa issues

Oil was up 2.5% on Friday after a U.S. official told Reuters that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.

Oil prices gained 2.5% on Friday after a U.S. official told Reuters that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.

Bank of America fined $225 mn for 'botching' US Covid-19 aid payments

Ben & Jerry's and its parent, consumer products company Unilever Plc, plan to seek mediation over the disputed sale of the ice cream maker's Israeli business to a local licensee.

The Bank of Canada unveiled a 'shock-and-awe' full-percentage-point interest rate hike on Wednesday, a surprise move that marked a change in messaging for a central bank desperate to show it can tame the worst inflation since 1983, analysts said.

Bank of America has been fined $225 million by a pair of U.S. banking regulators over what they called a "botched" handling of jobless benefits during the pandemic.

Trading activity by Federal Reserve Chair Jerome Powell and former Vice Chair Richard Clarida violated no rules, the Fed's independent watchdog said on Thursday, putting an apparent end to one chapter in an ethics scandal that embroiled the central bank last year.

WestJet Airlines and air traffic control manager NAV Canada said their services were returning to normal on Thursday afternoon following earlier outages that led to long airport lines and 100 delayed flights.

WestJet Airlines said on Thursday it had restored check-in and gate services caused earlier in the day by system outages that led to long lines at some airports in Canada.

U.S. hedge fund Elliott Associates and Jane Street Global Trading are invoking the Human Rights Act as they seek to sue the London Metal Exchange (LME) for a combined $472 million over its decision to cancel nickel trades in March.

U.S. oil and gas dealmaking fell to $12 billion last quarter, down from the first quarter and nearly a third of the $34.8 billion in the same period a year ago, as commodity price volatility left buyers and sellers clashing over asset values, according to data released by energy analytics firm Enverus on Thursday.

Bank of America has promoted former Prudential executive James Gill to lead its financial institutions franchise for Europe, the Middle East and Africa as it seeks to win more business from the region's biggest banks and fintech clients.

Fears that investment banking would take a big hit across Wall Street in the second quarter looked to be confirmed on Thursday, with JPMorgan Chase & Co and Morgan Stanley reporting that revenues in that business more than halved.

New chief at Libya's key oil firm, US warns against confrontation

JPMorgan Chase reports lower profits, gives cautious economic outlook

The SEC served Tesla CEO Elon Musk with a letter on Thursday to request more information related to a tweet on his $44 billion acquisition of Twitter despite his move to withdraw from the proposal.

Globally, Prime members purchased more than 100,000 items per minute over the course of the two-day annual sales event.

Minimum wage hikes are one way to help low-income Americans overcome soaring inflation.