ECONOMY & MARKETS

The US Federal Reserve's fight against inflation seems to be heading in the right direction, while the US economy remains resilient, a senior Fed official said Wednesday.

The World Bank could raise its lending capacity by $150 billion in the next decade but it will need to become "bigger" to respond to global challenges, its president said Wednesday.

The US dollar broke through the symbolic 1,000 peso mark on Argentina's parallel market on Tuesday, as citizens scramble to dump the currency two weeks before a presidential election, according to websites tracking the rate.

US Treasury Secretary Janet Yellen said Tuesday she backed efforts to boost the lending firepower of the IMF and World Bank to combat poverty and climate change.

The company's third-quarter sales and profit grew more than expected as it increased prices and focused on diversifying products.

Inflation raises the cost of producing goods and services, recorded in the second line of the income statement, and therefore, cuts into gross margins. Interest rates raise the cost of credit, and therefore, reduce net earnings.

The US Federal Reserve should proceed carefully when deciding whether or not to hike interest rates further to bring down inflation, two senior officials said Monday.

The Dallas Fed President warned that the Fed may need to do more as inflation remains too high.

A solid jobs report is usually unfavorable for equities, as it raises fears of further interest rate hikes to ease inflation pressures. Thus, the spike in the U.S Treasury bond yields sent stocks sharply lower in pre-market and early regular trading on Friday.

Despite mounting efforts to limit climate change, the OPEC oil cartel said Monday it expects demand for crude to continue to grow for the next two decades.

Asian finance hub Hong Kong halted trading at its stock exchange on Monday and closed schools, after Typhoon Koinu generated torrential rainfall overnight.

Republicans are expected to choose a final candidate for House Speaker; Citigroup, JPMorgan and Wells Fargo release third-quarter results.

The Fed can only keep interest rates high for a short time. It must lower the cost of borrowing for the federal government, which keeps accumulating more elevated and higher debt.

A survey conducted globally by KPMG reveals the main concerns and priorities for chief executives.

The increase in the rates is a result of concerns about inflation and the Fed's tightening cycle. It's also hurting homebuyers demand.

The data comes one day before the main job market report for the month of September, which is expected to show a slowdown.

ADP's job data also showed a 12th month of slowdown in salary gains.

The Bureau of Labor Statistics will publish the September nonfarm payrolls report on Friday. It's a monthly survey based on questionnaires distributed to business establishments nationwide to determine the number of jobs the private businesses created each month.

Striking a balance between the bright and dark sides of asylum policies is difficult. It requires meticulous planning and effective execution to pursue the best results for asylum seekers and host countries.

Asian markets fell Tuesday on concerns over interest rates following hawkish comments by a senior Federal Reserve official indicating the central bank was likely to keep them higher for longer.

The CEO of JPMorgan said in an interview with Bloomberg TV that the bank will try to redeploy people affected by AI.

Companies are increasing production to prepare for higher demand at the end of the year.

Congress will continue discussing a new bill to fund the government in 2024; OPEC+, Russia and allies are meeting.

The August core Personal Consumption Expenditure (PCE), which excludes food and energy, rose 0.1% from July, half of the June-July rise and half of analysts' estimates.

Asian markets were mixed Monday after the US Congress passed a last-minute deal at the weekend to avoid a costly government shutdown.

The U.S. Treasury secretary said the shutdown threatens economic progress.

Members of the Republican party joined Democrats to reject the stopgap measure aimed at avoiding the shutdown.

Approximately 7,000 workers will join the walkout, which is now in its third week.

The core PCE had the smallest gain in two years on a monthly basis.