business news

Airline tickets could become even more expensive, aviation execs warn

Airline tickets could become even more expensive, aviation execs warn

Air tickets may become more expensive — thanks to the lack of refining capacity and the financial state of airlines, said William Walsh, the director-general of the International Air Transport Association (IATA). The decline in refining capacity during the pandemic, and higher jet fuel prices caused by the increase in demand for fuel are “of …

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Investors brace for possible rate cut amid Turkey’s 80% inflation

Investors brace for possible rate cut amid Turkey’s 80% inflation

An electronic board displays exchange rate information at a currency exchange bureau in Istanbul, Turkey, on Monday, Aug. 29, 2022. Nicole Tung | Bloomberg | Getty Images The Turkish lira hit a new record low on Thursday, trading at 18,377 against the dollar at 11:30 am in Istanbul and continuing its downward slide of more …

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Xpeng breaks out of a lower price range with its more expensive car G9

Xpeng breaks out of a lower price range with its more expensive car G9

Xpeng has announced its most expensive car to date. Pictured here at a store in Shanghai, China, on July 2021 are two of Xpeng’s previously released models, a P7 Wing Limited Edition in green and a G3 SUV in blue. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car start-up Xpeng has …

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Swiss central bank hikes interest rate as inflation pressures hit hard

Swiss central bank hikes interest rate as inflation pressures hit hard

Swiss National Bank (SNB), the central bank of Switzerland. FABRICE COFRINI | AFP | Getty Images The Swiss National Bank on Thursday raised its benchmark interest rate to 0.5%, a shift that brings an end to an era of negative rates in Europe. The 75 basis point hike follows an increase to -0.25% on June …

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European markets open to close, BOE and SNB rate decisions

European markets open to close, BOE and SNB rate decisions

Oil prices climb after Fed’s rate hikes, demand fears linger Oil prices climbed following the Fed’s third consecutive rate hike. Reuters also reported Chinese refiners are expecting the nation to release up to 15 million tons worth of oil products export quotas for the rest of the year, citing people with knowledge of the matter. …

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FTX in talks to raise  billion at valuation of about  billion

FTX in talks to raise $1 billion at valuation of about $32 billion

Sam Bankman-Fried speaks onstage during the first annual Moonlight Gala benefitting CARE – Children With Special Needs at Casa Cipriani on June 23, 2022 in New York City. Craig Barritt | Getty Images Sam Bankman-Fried’s crypto conglomerate FTX is in talks with investors to raise up to $1 billion in new funding that would keep …

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Stock futures fall as traders weigh another large rate hike from Federal Reserve

Brendan McDermid | Reuters US stock futures fell on Thursday morning following a volatile session in the major averages as traders weighed another large rate hike from the Federal Reserve. Dow Jones Industrial Average futures declined by 109 points, or 0.36%. S&P 500 and Nasdaq 100 futures fell 0.56% and 0.79%, respectively. During the regular …

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Walmart plans to hire 40,000 workers for the holiday season

A Walmart worker organizes products for Christmas season at a Walmart store in Teterboro, New Jersey. Eduardo Munoz | Reuters Walmart announced Wednesday that it will be hiring 40,000 seasonal and full-time associates as the holiday season approaches. The company says it is hiring for a variety of positions, including seasonal store associates, customer service …

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Fed hike, Bank of Japan, interest rates, currencies

British pound slides further to hover around 37-year low The British pound fell further in Asia’s morning trade, hitting $1.1217 — its lowest level since 1985. The currency has been losing ground against the US dollar this year as economic concerns rise. Analysts are split over whether the UK central bank will hike rates by …

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Investors betting short term will miss out when Powell ‘wins’

CNBC’s Jim Cramer on Wednesday advised investors to think of the bigger picture when it comes to the Federal Reserve’s battle against inflation and its effect on the stock market. “The short-term camp is made up of people who either can’t handle any pain or don’t believe in [Fed Chair Jerome] Powell and want to …

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