Business News from WN Network

Assessing Saudi Arabia’s “ambitious” renewable goals 2024-09-13
Offshore Technology

Saudi Arabia is a key player in the global oil market, but just how serious is the energy giant in its desire to go green? Saudi Arabia is the second-largest crude oil producer – sitting just ahead of Russia, and below the US – with the desert nation extracting almost 12.5 million barrels of oil a...

photo: AP / Amr Nabil

China-Australia looking to heal trade war wounds 2024-09-13
Asiatimes

When Treasurer Jim Chalmers travels to Beijing later this month, he and his counterpart at China’s peak economic agency, the National Development and Reform Commission, won’t be short on important topics to discuss. Chalmers will be attending the Australia-China Strategic Economic Dialogue, one part...

photo: AP / Eugene Hoshiko

Asian shares rise amid US rate-cut optimism 2024-09-13
Business Day

Tokyo — The dollar slumped to its lowest this year on Friday versus the yen while gold hit a record high as investors ratcheted up bets for a supersized Federal Reserve interest rate cut next week. Shares in Asia also advanced after traders raised bets back to 45% for a 50 basis point (bp) US rate...

photo: AP / Eugene Hoshiko

ECB cuts interest rates as euro zone growth dwindles 2024-09-13
The Daily Herald - St Maarten

FRANKFURT--The European Central Bank cut interest rates again on Thursday and signalled a "declining path" for borrowing costs in the months ahead as inflation slows and economic growth in the euro zone falters. The ECB lowered its deposit rate by 25 basis points to 3.50%, following up on a similar...

photo: European Union

AI and innovation redefine the future of smart devices 2024-09-12
Independent online (SA)

HONOR, a global leader when it comes to smart devices, has brought a number of innovations to the IFA Berlin 2024 industrial exhibition. HONOR is constantly adapting its offers to consumers’ changing requirements. “HONOR stays close to consumers and understands the challenges they face,” said HONOR...

photo: AI

Fed to cut rates at last after drop in inflation 2024-09-12
The Daily Mail

The US central bank looks set to cut interest rates next week after inflation in the world's biggest economy fell to a three-and-a-half-year low. Official data yesterday showed consumer price inflation dropped from 2.9pc in July to 2.5pc in August, beating forecasts that it would hit 2.6pc. It was...

photo: Creative Commons / Ken Lund

Study finds toxic metals in tampons: FDA launches investigation 2024-09-12
Chatanooga Times Free Press

The Food and Drug Administration announced it has started a research project examining the possible effects of toxic metals in tampons, sparking concerns about products used by millions of women in the U.S. A recent study found a variety of metals — including mercury, arsenic and lead — in more than...

photo: AI

Wall Street tech rally lifts Asian shares 2024-09-12
Business Day

Sydney — Asian shares bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar held onto gains after US core inflation surprised slightly on the upside and dashed hopes of a large rate cut by the Federal Reserve next week. Investors are now awaiting a policy decision...

photo: AP / Mark Lennihan

Gold edges higher amid focus on US CPI data 2024-09-12
Business Day

Bengaluru — Gold prices edged higher on Thursday, with traders focusing on the upcoming US economic data that may offer further insights into an expected reduction in the Federal Reserve’s interest rate next week. Spot gold was up 0.2% at $2,515 .59/oz by 3.53am GMT. US gold futures were steady at...

photo: Creative Commons

Markets mixed ahead of US inflation, yen rallies after US debate 2024-09-11
Knoxville Daily Sun

Equity markets were mixed Wednesday as worries about the world's top two economies offset US rate cut optimism, while the yen hit a nine-month high after a Bank of Japan official hinted at more monetary tightening. The Japanese unit was also boosted by bets on a Kamala Harris presidency after she...

photo: AP / Andy Wong