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Hội An — the UNESCO-listed ancient town in central Vietnam — is ramping up recovery efforts after days of torrential rain triggered its worst floods in decades. Once floodwaters began to recede, residents and business owners joined forces to remove thick mud, clear streets and shops, and repair power systems. They’re racing to reopen for…
Bank of America Global Research has raised its forecast for gold prices, projecting that the metal could reach $5,000 per ounce by 2026. The bank now expects an average gold price of around $4,400/oz for the year. Gold recently surged past the $4,000/oz mark for the first time as investors flocked to safe-haven assets amid…
Bank of America has appointed Denis Manelski and Soofian Zuberi as the new co-heads of its Global Markets business. The move comes after 14 straight quarters of growth in the bank’s trading division. The internal announcement follows strong performance this year. In the third quarter, Bank of America’s sales and trading unit reported $5.4 billion…
China has agreed to ease a semiconductor export ban that threatened Europe’s car industry, after weeks of tension with the Netherlands over the takeover of chipmaker Nexperia. Earlier this year, the Dutch government took control of Nexperia — a Chinese-owned company based in the Netherlands — using emergency national-security powers. Officials said they needed to…
Jeffrey Schmid, president of the Federal Reserve Bank of Kansas City, voiced concern on Friday that inflation remains too high even though the U.S. economy still shows strength. He was one of two Fed officials who openly dissented from the central bank’s recent interest-rate cut. Schmid said he doubts that a 25 basis-point cut in…
U.S. stock index futures climbed on Friday as upbeat forecasts from tech giants Amazon and Apple lifted investor sentiment and helped ease recent jitters. Amazon surged about 11% in early trading after reporting a strong outlook driven by rapid growth in its cloud business, one of the biggest in nearly three years. Meanwhile, Apple’s shares…
Donald Trump announced that the United States and Canada will not restart trade negotiations after he pulled the plug last week. The decision followed an ad campaign by Ontario province that Trump described as antagonistic to U.S. tariffs. Trump said the advertisement broadcast in the U.S. had lead to the breakdown in talks with Canada….
Saudi Arabia is preparing to cut the price of its crude oil for Asian buyers in December, as global supply strengthens and demand outlook remains uncertain. The move could push prices to their lowest level in months and reflects the shifting balance in the global energy market. Industry sources say Saudi Arabia may reduce the…
New estimates show initial jobless claims in the U.S. dropped to about 219,000 for the week ending October 25, down from 232,000 a week earlier. The data comes amid a government shutdown but states still submitted unemployment filings, allowing economists to estimate using seasonal-adjusted models. While the labour market remains stable, hiring appears weak and…
Netflix has retained bank Moelis & Co. and gained access to Warner Bros Discovery’s financial data as it explores acquiring the media giant’s studio and streaming operations. The deal could give Netflix control of franchises such as Harry Potter and DC Comics, while boosting its content library. The streamer has stressed it favors building over…
