MIAMI, United States (AFP) — A gunman killed at least five people on Wednesday at a bank in Sebring, Florida in the southern United States, police said. “We have at least five victims, people who were senselessly murdered,” Police Chief Karl Hoglund told a news conference. The alleged shooter, identified as a 21-year-old resident of Sebring, has been taken into custody, Hoglund said. Their motive was not immediately clear, and the investigation into the shooting […]
Tag: bank
US Fed could rethink rate hikes as Trump trade wars drag on economy
by Heather SCOTT Agence France Presse WASHINGTON, United States (AFP) — The US central bank sent a strong signal on Friday that it would be willing to reconsider expected interest rate hikes amid new data showing President Donald Trump’s multi-front trade wars are dragging on the economy and shaking up investors. The message, from the senior Federal Reserve official with the closest links to US financial markets, sent the Dow Jones Industrial Average surging 300 […]
US Federal Reserve raises lending rate; signals slower pace ahead
by Heather SCOTT Agence France Presse WASHINGTON, United States (AFP) — The US Federal Reserve raised the benchmark interest rate on Wednesday, a move sure to anger President Donald Trump, but it also sent a clear signal it expects to slow its rate increases next year. The Fed’s fourth rate increase of the year, which sent Wall Street tumbling in mid-afternoon, moved the central bank squarely into the crosshairs of the president, who said a […]
US Fed on hold but investors await signals on inflation fears
by Heather SCOTT Agence France Presse WASHINGTON, United States (AFP) — No US economists believe the Federal Reserve will raise the all-important benchmark interest rate on Thursday but they are watching closely for any signals about how concerned the central bankers are about rising prices. With the economy growing strongly and wages at long last starting to increase after years of robust job creation, central bank officials are wary the economy could overheat. Investors will […]
IMF cuts global growth forecast to 3.7% for 2018, 2019 as risks rise
by Heather SCOTT Agence France Presse WASHINGTON, United States (AFP) — An upswing in economic risks due to rising trade tensions and debt levels has prompted the International Monetary Fund to cut its forecast for world growth for this year and next. With trade growth set to slow sharply amid a trade war between the United States and China, the IMF cut its outlook for global GDP by two-tenths to 3.7 percent for 2018 and […]
Malaysia central bank chief quits after 1MDB-linked scandal
KUALA LUMPUR, Malaysia (AFP) — Malaysia’s central bank governor has resigned, the prime minister said Wednesday, after claims the bank helped the previous regime cover debts linked to a financial scandal by purchasing government land. Muhammad Ibrahim’s days had looked numbered since the new government, which came to power last month after a shock election win, disclosed the purchase made by Bank Negara Malaysia from Najib Razak’s government. Former prime minister Najib, his family and […]
Australia holds rates as inflation remains soft
SYDNEY, Australia (AFP) — Australia’s central bank on Tuesday kept interest rates at a record low in its first meeting of the year, with inflation still soft and the outlook for household spending uncertain. The Reserve Bank of Australia has not adjusted rates since August 2016, following a series of cuts from November 2011 that took it to 1.50 percent in a bid to boost non-mining sectors of the economy. Governor Philip Lowe said in […]
Bitcoin could threaten financial stability: Fed governor
WASHINGTON, United States (AFP) — Digital currencies like bitcoin could pose a threat to financial stability as they gain wider use, a chief Federal Reserve banking oversight official said Thursday. The remarks from newly-installed Fed Vice Chairman for Supervision Randal Quarles came as bitcoin took a vertiginous dive on Thursday after skyrocketing earlier in the week to more than 10 times its value at the start of the year. Bitcoin is increasingly being embraced by Wall Street, […]
Jerome Powell, Trump’s multi-millionaire pick for Fed chief
WASHINGTON, United States (AFP) — Jerome “Jay” Powell, the Republican former investment banker tapped by President Donald Trump to replace Janet Yellen at the helm of the US Federal Reserve, could be the richest person to ever fill the role. Trump’s choice of Powell — who is not a trained economist — represents a departure from longstanding precedent, but also sends a signal to markets that the White House intends to maintain a measure of continuity with […]
US sanctions Chinese bank for laundering North Korean cash
by Heather Scott Agence France-Presse WASHINGTON DC, United States (AFP) – The United States slapped unprecedented sanctions Thursday on a Chinese bank accused of laundering North Korean cash after President Donald Trump said Beijing’s efforts to put the brakes on Pyongyang’s nuclear drive had failed. As South Korea’s new president visited Washington, the Treasury Department announced the Bank of Dandong would be severed from the US financial system for acting “as a conduit for […]
Taliban car bombing at Afghan bank kills 34; wounds dozens
by Sefatullah Zahidi Agence France Presse LASHKAR GAH, Afghanistan — At least 34 people were killed Thursday when a Taliban car bomb struck a bank in Afghanistan’s Lashkar Gah city as people were queueing to withdraw salaries, the latest bloody attack during the month of Ramadan. Dozens of wounded people were rushed to hospital on makeshift stretchers after the bombing at New Kabul Bank, which upturned vehicles, left the area littered with charred debris, and sent a […]
Australia holds rates steady ahead of budget
SYDNEY, Australia (AFP) — Australia’s central bank held interest rates at a record low 1.50 percent Tuesday after annual inflation moved back into its target range, as it treads water ahead of the federal budget next week. The Reserve Bank of Australia slashed 300 basis points from borrowing costs between November 2011 and August last year to support non-resources industries as the economy transitions out of a mining investment boom. It has remained on […]
