Wall Street Week Ahead — ‘Super Bowl’ Nvidia earnings stand to test searing AI trade
New York — The rally in U.S. stocks faces an important test […] with earnings from chipmaking giant Nvidia NVDA.O, whose blistering run has powered markets throughout 2024. The S&P 500 .SPX has pared a sharp drop it suffered after…
Fed’s actions spoke louder than words in inflation fight, research shows
JACKSON HOLE, Wyoming — The Federal Reserve’s credibility in the eyes of financial markets helped in its battle against inflation over the past two years, but it had to be earned afresh with interest rate hikes that backed up policymakers’…
Canadian rail arbitration hearing ends without decision; strike looms
TORONTO — A workers’ union Friday threatened a strike at one of Canada’s two major freight railroads, only hours after the company’s trains restarted following a potentially devastating stoppage. A government-ordered arbitration hearing wrapped up without a decision, and Canadian…
Indonesia destroys $1.3M of illegal imports, cracks down on underground economy
Jakarta, Indonesia — Cellphones, electric pots and pans, and car washing machines were among goods worth $1.3 million destroyed Monday by the Indonesian Trade Ministry in West Java. Alcoholic drinks with an ethyl alcohol or ethanol content ranging from 5%…
Fed Chief: ‘The time has come’ to begin reducing interest rates
JACKSON HOLE, Wyoming — With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when…
New EU deforestation regulations a challenge for Namibian farmers
Windhoek, Namibia — Namibia’s minister of agriculture has urged farmers in the Southern African country to look at alternative markets for its charcoal and beef products since the European Union, one of its largest trading partners, has implemented nontariff barriers…
Shein sues Temu over copyright infringements as legal feud heats up
Online fast-fashion giant Shein has filed another lawsuit against competitor Temu, accusing the China-founded shopping platform of stealing its designs, copying its product images and engaging in other types of fraud. The complaint filed in a Washington federal court this…
China questions, begins probe of European Union subsidies for dairy industry exports
China is opening an investigation into subsidies of dairy products imported from the European Union. The commerce ministry announced Wednesday that it will investigate subsidy plans created by the 27-member bloc as well as individual member states such as Austria,…
Seoul authorities find toxic substances in Shein and Temu products
Seoul — Women’s accessories sold by some of the world’s most popular online shopping firms contained toxic substances sometimes hundreds of times above acceptable levels, authorities in Seoul said Wednesday. Chinese giants including Shein, Temu and AliExpress have skyrocketed in…
Myanmar fighting blocks key trade route with China, impacting economy
Bangkok — Ethnic and resistance forces in Myanmar have completely blocked a key trade route to China, halting cross-border commerce and further damaging Myanmar’s already struggling economy. The Mandalay-Lashio-Muse Road is considered the most strategically important road in the country’s…