Bank of England keeps its main interest rate on hold at 5% in wake of big US Fed rate cut

LONDON (AP) — The Bank of England kept its main interest rate unchanged at 5% Thursday despite a big cut from the U.S. Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago. The decision was widely expected amid ongoing concerns about...

The Bank of England is widely expected to hold interest rates as inflation stays above target

LONDON (AP) — The Bank of England is widely expected to keep interest rates unchanged on Thursday, a day after official figures showed inflation in the U.K. holding steady at an annual rate of 2.2% in August, with higher airfares offset by lower fuel costs and restaurant and hotel bills. ...

Will the Federal Reserve cut interest rates fast enough to deliver a 'soft landing'?

WASHINGTON (AP) — American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week: That it's cutting its key interest rate from a two-decade peak. It's likely to be just the first in...

Sustainable investing advocate says 'anti-woke' backlash in US won't stop the movement

NEW YORK (AP) — Maria Lettini already knew of the backlash against ESG investing when she took over as chief executive of US SIF last year. US SIF is an advocacy group that supports sustainable investing, which encourages investors to consider a wider set of risks including the...

Russian central bank hikes rates to fight inflation fuelled by military spending

MOSCOW (AP) — Russia's central bank hiked interest rates to their highest since the Kremlin sent troops into Ukraine more than 2 1/2 years ago, a step aimed at combatting the inflation fuelled by massive government outlays for the military — and by robust spending from Russian consumers in...

Russian central bank hikes interest rates by 1 percentage point to 19% to fight inflation fueled by military spending

Inflation's down and the European Central Bank has cut rates, again. Next up: The Fed

FRANKFURT, Germany (AP) — With inflation subsiding, the European Central Bank cut interest rates again on Thursday to prop up tepid growth with lower borrowing costs for companies and home buyers. The U.S. Federal Reserve likely won’t be far behind in joining the rate-cutting process. ...

Freshly squeezed: Savers already feeling the pain ahead of likely start to Fed rate cuts

NEW YORK (AP) — This week the Federal Reserve is likely to cut its main interest rate for the first time in more than four years. It's a momentous move, but savers have been feeling the squeeze for months. Financial markets and banks try to get ahead of such moves by the Fed, and...

Stock market today: Wall Street drifts as Oracle soars and banks and oil slump

NEW YORK (AP) — U.S. stocks drifted to a mixed finish on Tuesday following several weeks of sharp swings. The S&P 500 rose 0.4% to pull within 3% of its record set in July. It flipped between small gains and losses through the day, but the moves were nothing like its careens...

Southwest Airlines shakes up its board under pressure from a big shareholder

Southwest Airlines will revamp its board and the chairman will retire next year, but it intends to keep CEO Robert Jordan in a partial concession to hedge fund Elliott Investment Management, which has been pushing for changes at the airline including Jordan’s ouster. Southwest said...