Worldwide business news with international business, banking, interest rate, stock market, currencies and fund
increasing the discount rate (the primary credit rate) at the Banks from 2-1/2 percent to 2-3/4 percent, effective immediately
Reuters |
The United States said it was ready to resume talks with North Korea after Pyongyang pledged to dismantle its key missile facilities and suggested it would close its main Yongbyon nuclear complex if Washington took unspecified actions.
Bloomberg |
China is planning to cut the average tariff rates on imports from the majority of its trading partners as soon as next month
Bloomberg |
Franklin Templeton Investments says the rout in emerging markets may be nearing a bottom, though reckons there are still countries that will suffer, like the Philippines.
European Central Bank |
European Central Bank (ECB) decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively.
Reuters |
Emergence of the group, Americans for Free Trade, comes after Trump has warmed to the use of tariffs, implementing billions of dollars worth in an effort to use them as a threat to win concessions or in the belief they will create U.S. jobs.
Bloomberg |
Hurricane Florence’s potential for destruction also includes increased risks for the environment and public health as torrential rains could overwhelm the pits where toxic waste from power plants is stored.
Bank of Canada |
Bank of Canada today maintained its target for the overnight rate at 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent.
Reserve Bank of Australia |
Board decided to leave the cash rate unchanged at 1.50 per cent.
Reuters |
The S&P 500 index .SPX notched its highest ever close on Friday, reaffirming that the bull market was intact, and now the longest running ever, after a steep sell-off seven months ago that tipped the market into a correction.