CANBERRA—An Australian-EU trade deal would be mutually beneficial and allow EU members a greater presence in the Indo-Pacific, said Australia’s trade minister, as Canberra tries to repair ties with Paris after the scrapping of a $40 billion submarine deal. Australia last week cancelled a deal with France’s Naval Group to build a fleet of conventional…
Australia Says Trade Pact Would Benefit EU in Indo-Pacific Amid Submarine Deal Fallout
Fed Holds Interest Rates Near Zero, May Conclude Tapering by ‘Middle of Next Year’
WASHINGTON—The Federal Reserve announced on Sept. 22 that it would keep U.S. interest rates near zero as “risks to the economic outlook remain.” The central bank revised up its inflation projections significantly for this year and said the announcement for tapering of bond purchase could come “soon.” The central bank also downgraded its growth forecasts to…
Fed Holds Interest Rates Steady, Could Taper Bond Buying ‘Soon’
WASHINGTON—The Federal Reserve announced on Sept. 22 that it would keep U.S. interest rates near zero as “risks to the economic outlook remain.” The central bank signaled that it could slow its monthly bond purchases “soon” as a first step toward normalizing monetary policy. The Fed officials also revised up their inflation projections significantly for…
Fed Holds Interest Rates Steady, Raises Inflation Projections
WASHINGTON—The Federal Reserve announced on Sept. 22 that it would keep U.S. interest rates near zero as “risks to the economic outlook remain.” The central bank revised up its inflation projections significantly for this year and said the announcement for tapering of bond purchase could come “soon.” The central bank also downgraded its growth forecasts to…
SoftBank Backs Steven Mnuchin’s $2.5 Billion Private Equity Fund
September 22, 2021
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SoftBank Group will invest in a $2.5 billion private equity fund set up by former U.S. Treasury Secretary Steven Mnuchin, the Japanese conglomerate said on Wednesday without disclosing the size of the investment. The fund, Liberty Strategic Capital, will be backed by SoftBank’s $40 billion second Vision Fund and Abu Dhabi-based sovereign wealth fund Mubadala,…
ECB to Mull Upping Regular Bond Purchases After Emergency Scheme: Bloomberg
FRANKFURT—The European Central Bank will discuss whether to raise its regular bond purchases when its pandemic-fighting scheme ends, ECB policymaker Madis Muller said in an interview published on Wednesday. “I realise that it would be a problem if there is a very sharp cliff effect at the end of the pandemic emergency purchase programme (PEPP),”…
EU Energy Ministers Meet to Discuss Power Price Surge
Energy ministers from European Union countries will on Wednesday (September 22) discuss the soaring price of gas and electricity across Europe, as some governments draw up measures to protect their consumers. Benchmark European power prices have rocketed this year, more than trebling in Spain and elsewhere, partly because gas prices have been driven up by…
Surge in UK Fraud a National Security Threat, Warn Banks
LONDON—A surge in fraud attacks on consumers since the pandemic has become a ‘national security threat’ for Britain requiring government-coordinated action across industries, banking industry lobby group UK Finance has warned. Financial fraud has rocketed during the pandemic as more consumers shop online and try digital banking and investing. Criminals stole 754 million pounds ($1.03…
Fed Likely to Open Bond-Buying ‘Taper’ Door, but Hedge on Outlook
WASHINGTON—The Federal Reserve is expected to clear the way on Wednesday for reductions to its monthly asset purchases later this year and show in updated projections whether higher-than-expected inflation or a resurgent coronavirus pandemic is weighing more on the economic outlook. Fed policymakers, who are wrapping up their latest two-day meeting, have been handed a…
Economist Nouriel Roubini Warns of Growing Risk of Stagflationary Crisis
Economist Nouriel Roubini, known for his gloomy-yet-accurate prediction of the 2008 financial crash, warned in a recent op-ed that the global supply chain crisis combined with high debt ratios and ultra-loose monetary and fiscal policies threaten to turn the “mild stagflation” of recent months into a stagflationary crisis. Roubini argued in the Sept. 21 op-ed “Goldilocks…
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