Posts by Liam Redmond
Fed’s New York president says tariff economic impact is only just starting
[NEW YORK] US Federal Reserve Bank of New York President John Williams said that monetary policy is in the right place to allow central bankers to monitor the economy before taking their next steps, while warning that the impact of trade tariffs is only just starting to hit the economy. “Maintaining this modestly restrictive stance…
Read MoreMarkets rattled by ‘credible threat’ of Trump trying to fire Jerome Powell
[NEW YORK] Once again, US President Donald Trump demonstrated his power to shake up global financial markets. This time, by returning to one of his favourite topics: whether to fire Federal Reserve chair Jerome Powell. In an echo of the havoc that Trump unleashed with his trade war in early April, markets were briefly turned…
Read MoreHong Kong’s US$25 billion pile of soured debt spurs talks to form ‘bad bank’
[HONG KONG] The pile of non-performing loans (NPLs) at Hong Kong lenders has grown so large that some in the industry have discussed the creation of a “bad bank” to soak up the financial hub’s soured debt. The talks between some of the city’s biggest banks, described by sources familiar with the matter, have been…
Read MoreTesla readies a six-seat version of the Model Y for China
The carmaker has been losing ground to domestic manufacturers with fresher lineups Published Thu, Jul 17, 2025 · 08:22 AM [BEIJING] Tesla is preparing to launch a longer, six-seat version of its Model Y sport utility vehicle in China, where the carmaker has been losing ground to domestic manufacturers with fresher lineups. The new variant…
Read MoreNew details in Air India crash probe shift focus to plane’s captain: WSJ
A COCKPIT recording of dialogue between the two pilots of the Air India flight that crashed last month indicates the captain cut the flow of fuel to the plane’s engines, the Wall Street Journal reported on Wednesday. The newspaper cited people familiar with US officials’ early assessment of evidence uncovered in the investigation into the…
Read MoreCouche-Tard abandons 6.8 trillion yen bid to buy 7-Eleven owner
[TOKYO] Canada’s Alimentation Couche-Tard has abandoned its 6.8 trillion yen (S$59 billion) bid to buy Seven & i Holdings, saying the Japanese operator of 7-Eleven convenience stores had refused to engage meaningfully during the almost year-long pursuit. “There has been no sincere or constructive engagement from 7&i that would facilitate the advancement of any proposal,…
Read MoreGoldman Sachs profits jump as CEO eyes more merger activity
[NEW YORK] Goldman Sachs reported a jump in second-quarter profits on Wednesday behind significant increases in financial advisory revenues that chief executive David Solomon said could presage an uptick in dealmaking. “Anecdotally, the level of dialogue is significantly increased,” Solomon told analysts on a conference call after the investment bank’s earnings surpassed analyst estimates. There…
Read MoreUS firms passing some cost hikes to consumers: Fed survey
[WASHINGTON] Many US firms passed along “at least a portion of cost increases” to consumers in recent weeks, as businesses faced higher prices linked to President Donald Trump’s tariffs, the Federal Reserve said on Wednesday. Businesses also expect costs to remain elevated, “increasing the likelihood that consumer prices will start to rise more rapidly by…
Read MoreUnited Airlines profits dip but says Newark has rebounded
[NEW YORK] United Airlines reported a drop in second-quarter profits on Wednesday on higher costs and predicted a rise in travel as geopolitical worries ease. The carrier, which was forced to scale back operations at its New York-area hub for part of the quarter due to air traffic control problems, said it saw an increase…
Read MoreGoogle to unveil new Pixel hardware on August 20 with AI in focus
The company’s market share in the US smartphone segment is tiny compared with Apple and Samsung Published Thu, Jul 17, 2025 · 06:46 AM [PHILADELPHIA] Alphabet’s Google will debut new Pixel-branded hardware at an event on Aug 20 in New York, with the lineup expected to include several smartphones and a smartwatch, all powered by…
Read MoreThree-quarters of US teens use AI companions despite risks: study
[SAN FRANCISCO] Nearly three in four American teenagers have used AI companions, with more than half qualifying as regular users despite growing safety concerns about these virtual relationships, according to a new survey released Wednesday. AI companions – chatbots designed for personal conversations rather than simple task completion – are available on platforms like Character.AI,…
Read MoreEurope: Chip stocks drag shares lower after ASML’s warning
EUROPEAN shares fell on Wednesday, with chip stocks hit hard after ASML flagged a hit to its revenue growth, while reports of US President Donald Trump considering firing Federal Reserve Chair Jerome Powell also hit sentiment. The pan-European Stoxx 600 index closed 0.57 per cent lower at 541.84, marking its fourth straight day of losses. Most regional…
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