Turkey cuts interest rates by 150 basis points and ends the easing cycle

An electronic board shows exchange rate information at a bureau de change in Istanbul, Turkey, on Monday, August 29, 2022. Nicole Tung | Bloomberg | Getty Images Turkey’s central bank cut interest rates by 150 basis points to 9% on Thursday and decided to end the cycle of monetary policy easing, citing increased inflation risks. … Read more

The total number of daily Covid cases in mainland China rises above the peak of the Shanghai lockdown

Only a few vehicles, including one carrying two health workers, are moving through Beijing’s central business district on November 23, 2022, as the area has announced stricter Covid controls. Kevin Frayer | Getty Images News | Getty Images BEIJING — Mainland China reported more than 31,000 Covid infections as of Wednesday, including cases without symptoms. … Read more

With unions aligned, railroad strike, contingency planning timeline is clear

The alignment of the four unions that voted not to ratify a labor agreement has provided a clear timetable for strike preparation plans on freight railways and with sensitive cargo, including chemicals. The Brotherhood of Railroad Signalmen (BRS) announced Tuesday that it is extending its status quo period through December 8 to align with the … Read more

Fed minutes, Bank of Korea decision, Sri Lanka

New Zealand’s central bank discussed a 100 basis point increase, the governor says The Reserve Bank of New Zealand had considered an even bigger rate hike when making its latest official decision on spot rates – despite the move to raise rates by 75 basis points already being the steepest ever. “I would say we … Read more

NBC News projects Sarah Palin to lose, ending the political comeback

Republican nominee for the U.S. House of Representatives Sarah Palin talks to reporters near the corner of Seward Highway and Northern Lights Boulevard on U.S. Election Night, in Anchorage, Alaska, U.S., November 8, 2022. Kerry Tasker | Reuters Former Alaska governor Sarah Palin, the only Republican woman ever to be nominated for vice president, was … Read more

November 2022 Fed Minutes:

Federal Reserve officials agreed earlier this month that smaller rate hikes should happen once they evaluate the policy’s impact on the economy, the minutes published Wednesday show. Reflecting statements made by multiple officials in recent weeks, the meeting summary pointed to small interest rate hikes coming up. Markets are widely expecting the Federal Open Market … Read more

Sequoia’s Doug Leone says today’s downturn is worse than 2000 and 2008

Sequoia Capital Global Managing Partner Doug Leone speaks onstage during Day 2 of TechCrunch Disrupt SF 2018 at Moscone Center on September 6, 2018 in San Francisco, California. Steve Jennings | Getty Images HELSINKI, Finland — U.S. venture capitalist Doug Leone doesn’t think the tech wreck is going away any time soon. Sequoia Capital’s partner … Read more

Britons are starting to think about Brexit again as the economy slides into recession

Anti-Brexit protester Steve Bray (L) and a pro-Brexit protester argue as they demonstrate outside the Houses of Parliament in Westminster on January 8, 2019 in London, England. Jack Taylor | Getty Images News | Getty Images The UK’s growth prospects are even lower than Germany’s, whose economy is uniquely exposed to higher energy prices due … Read more

China played a great game with lithium and we were slow to react: CEO

This image, from March 2021, shows a worker with car batteries at a factory in China. STR| AFP | Getty Images China leads the way when it comes to lithium – and the rest of the world hasn’t reacted quickly enough to its dominance, says the CEO of American lithium. Speaking on CNBC’s “Squawk Box … Read more

China may have ‘passed the point of no return’ as Covid infections rise

BEIJING – Rising Covid infections in mainland China are making it more difficult for the government to achieve zero Covid without resorting to a hard lockdown, Macquarie’s Chief China Economist Larry Hu said. In recent days, the daily number of cases has risen to about or more than 28,000 — close to levels seen in … Read more