Powell Signals Downshift Likely Next Month, More Hikes to Come

Powell Signals Downshift Likely Next Month, More Hikes to Come

Jerome Powell, chairman of the US Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, Nov. 2, 2022. Federal Reserve officials delivered their fourth straight 75 basis-point interest rate increase while also signaling their aggressive campaign to curb inflation could be approaching its … Read more

Norway to Hit Fleeing Billionaires With Higher Exit Tax

Norway to Hit Fleeing Billionaires With Higher Exit Tax

(Bloomberg) — Norway is introducing stricter rules to tax expatriates amid reports that more of the country’s billionaires have moved abroad or are considering leaving. A five-year time limit on exit tax on unrealized gains on shares and other assets will be abolished and the rules are extended “to apply to the transfer of shares … Read more

Asia Stocks Picture Mixed on Fed View, China Woes: Markets Wrap

Asia Stocks Picture Mixed on Fed View, China Woes: Markets Wrap

“It’s a decent time to start considering sharpening your pencil and think about what is a good buy right now,” Terri Spath, founder and chief investment officer of Zuma Wealth Management, said on Bloomberg Television. She said that the coming slowdown in the US economy would be mild and that if there’s a shallow recession … Read more

Lagarde Says ECB Must Hike Even As Economy Weakens Into 2023

Lagarde Says ECB Must Hike Even As Economy Weakens Into 2023

“How much further we need to go, and how fast we need to get there, will be based on our updated outlook, the persistence of the shocks, the reaction of wages and inflation expectations, and on our assessment of the transmission of our policy stance,” Lagarde said. .

Amazon Plans to Invest $1 Billion a Year in Movies for Theaters

Amazon Plans to Invest  Billion a Year in Movies for Theaters

Customers watch a film at a movie theater in Rio de Janeiro, Brazil, on Saturday, Sept. 18, 2021. Rio de Janeiro is requiring proof of vaccination in order to enter public events, tourist points, movie theaters, sports stadiums, and other entertainment activities, as the country sees more than 21 million Covid-19 cases. Photographer: Andre Borges/Bloomberg … Read more

Crypto Lender BlockFi Goes Bankrupt in Aftermath of FTX Meltdown

Crypto Lender BlockFi Goes Bankrupt in Aftermath of FTX Meltdown

The BlockFi logo on a smartphone arranged in the Brooklyn borough of New York, US, on Thursday, Nov. 17, 2022. Cryptocurrency lender BlockFi Inc. is preparing to file for bankruptcy within days, according to people with knowledge of the matter who asked not to be named because discussions are private. Photographer: Gabby Jones/Bloomberg .

China Covid Protests Spread to Hong Kong as Dozens Rally

China Covid Protests Spread to Hong Kong as Dozens Rally

Demonstrators hold blank signs during a vigil commemorating victims of China’s Covid Zero policy in Hong Kong, China, on Monday, Nov. 28, 2022. The protests that erupted against China’s Covid Zero strategy represent one of the most significant challenges to Communist Party rule since the Tiananmen crisis more than 30 years ago. .

Hedge Fund That Beats 99% of Peers Places Contrarian Bet on Meta

Hedge Fund That Beats 99% of Peers Places Contrarian Bet on Meta

The Meta Store in Burlingame, California, US, on Tuesday, Oct. 25, 2022. Meta Platforms Inc.’s newest virtual-reality headset is a foray into the world of high-end VR devices designed to entice creators and working professionals to adopt Mark Zuckerberg’s vision for an immersive digital future. .

Canada to Increase Military and Economic Ties in Indo-Pacific

Canada to Increase Military and Economic Ties in Indo-Pacific

The 26-page document, an advance copy of which was seen by Bloomberg, includes a lengthy section on China, which it refers to as an “increasingly disruptive global power.” It cites multiple military, security and economic threats posed by the country, while acknowledging the need to work with it on issues such as climate change, global … Read more