Author: News Room

By Lewis Krauskopf, Davide Barbuscia and David Randall NEW YORK (Reuters) – A U.S. stock market perched at record highs received an encouraging message from the Federal Reserve, after the central bank stuck with its rate cut projections for 2024 despite stronger-than-expected economic growth. For weeks, evidence of robust growth and stubborn inflation had whittled away at the market’s expectations for how deeply the U.S. central bank will cut rates this year, even as stocks continued climbing. On Wednesday, however, Fed Chairman Jerome Powell said the evidence of economic strength had not changed the Fed’s expectations that price pressures will…

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Apple CEO Tim Cook is making a high-profile visit to Shanghai as part of Thursday’s opening of an enormous new flagship store, as the iPhone maker makes a deeper push into its biggest international market amid declining sales. The new $11.6 million store — located in Shanghai’s central district of Jing’an, which is named after a historic temple — is the biggest in China and the second largest globally after the one in New York’s…

Eurozone Manufacturing PMI dropped to 45.7 in March, missing estimates of 47.0 Bloc’s Services PMI climbed to 51.1 in March at vs. 50.5 anticipated. EUR/USD stays directed toward 1.08500 after German, Eurozone PMI data. The Eurozone manufacturing sector activity downturn extended while the services sector continued to expand in March, according to the data from the HCOB’s latest purchasing managers index survey released on Thursday. The Eurozone Manufacturing Purchasing Managers Index (PMI) arrived at 45.7 in March, as against the consensus forecast of 47.0 and the 46.5 recorded in February. The index fell to a three-month low. The bloc’s Services PMI rose to 51.1 in…

Hong Kong’s central bank cautioned the public Wednesday about schemes falsely claiming association with its e-HKD pilot projects. The warning comes as Hong Kong explores the potential of a central bank digital currency through various trial projects. The public appears to have been exposed to certain organizations claiming to be part of the program. These entities supposedly promoted products to lure investments, posing as selected participants in the digital currency trial. e-HKD Pilot Participants Include Alipay, HSBC For guidance, the Hong Kong Monetary Authority (HKMA) released a list of official participants in the pilot program. These include Alipay Financial Services,…

Melania Trump is asked if she’ll return to the campaign trail. Hear her reply New York Times White House correspondent Katie Rogers breaks down former first lady Melania Trump’s reply to a reporter’s question about her potential return to the campaign trail.

Call Of Duty:Warzone Mobile is almost upon us—four years after the launch of the original Warzone. The new game isn’t replacing Call Of Duty: Mobile, but it is a very different game, that aims to align more closely with Warzone and the yearly Call Of Duty multiplayer release. This means that most weapons, items, cosmetics and leveling across the mobile, PC and console versions of the games will be cross-progression. You can buy a Battle Pass on one platform and progress it on another; unlock a gun on PC and use it in mobile and so forth. This isn’t true…

By Jason Lange and Alexandra Ulmer WASHINGTON (Reuters) -A fundraising group run by Donald Trump, who is facing four criminal trials as he seeks the U.S. presidency, stepped up spending on legal fees last month, further draining money from efforts to return him to the White House, financial disclosures showed on Wednesday. In a filing to the Federal Election Commission, the group, known as Save America, detailed legal expense outlays totaling more than $5.5 million in February, the biggest single month of such spending since Trump, a Republican, formed the organization in 2020 following his defeat to Democrat Joe Biden…

BEIJING (Reuters) – China’s tightening of rules for consumer finance companies is likely to force consolidation in the roughly $120 billion sector that provides high-interest loans for millions of people shut out of traditional banking. The National Financial Regulatory Administration (NFRA) announced revamped and stricter rules for the sector on Monday, measures that are expected to drive China’s consumer finance companies to seek deeper-pocketed investors or merge. The tougher standards for the last line of credit for China’s riskiest borrowers are the latest steps aimed at containing financial risks in the world’s second-largest economy. Exuberance in some sectors, especially property,…

By Aditya Kalra, David Lawder and Shivangi Acharya NEW DELHI/WASHINGTON (Reuters) – India reversed a laptop licensing policy after behind-the-scenes lobbying by U.S. officials, who however remain concerned about New Delhi’s compliance with WTO obligations and new rules it may issue, according to U.S. trade officials and government emails seen by Reuters. In August, India imposed rules requiring firms like Apple (NASDAQ:), Dell (NYSE:) and HP (NYSE:) to obtain licences for all shipments of imported laptops, tablets, personal computers and servers, raising fears that the process could slow down sales. But New Delhi rolled back the policy within weeks, saying…

The Pound Sterling rallies to 1.2800 ahead of BoE’s policy decision. February’s soft UK inflation report could allow the BoE to deliver a slightly dovish guidance. The US Dollar weakens as the Fed keeps forecasting three rate cuts this year. The Pound Sterling (GBP) exhibits strength in Thursday’s London session ahead of the Bank of England’s interest rate decision, prompted by investors’ higher risk appetite. The GBP/USD pair saw a juggernaut rally as the Federal Reserve (Fed) stuck to the forecast of three rate cuts for this year, which weakened investors’ appeal for the US Dollar (USD).  The BoE is…