Investors bought into the interest rate cut. Equity inflows last week were the largest they had been in roughly two years, according to Jill Carey Hall, equity and quant strategist at Bank of America Securities. The Wall Street bank reported its clients snapped up $6.9 billion worth in stocks, the highest level going back to … Read more
U.S. Steel CEO David Burritt on Tuesday defended the company’s planned sale to Japan’s Nippon Steel, expressing confidence that the deal will “close on its merits” despite President Joe Biden’s vocal opposition. “We strongly believe the deal closes on its merits,” Burritt said in an interview on CNBC’s “Money Movers.” “It strengthens national security, it … Read more
The sun sets beyond crude oil storage tanks at the Juaymah tank farm at Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018. Bloomberg | Bloomberg | Getty Images Global benchmark Brent crude falling below $70 a barrel in early September — its lowest in … Read more
With China’s central bank revealing its most aggressive stimulus since the pandemic, the Shanghai Stock Exchange Composite Inde x ripped higher by more than 4%. Not surprisingly, the news has given a jolt to the most liquid Chinese ETF today, as well. The iShares China Large Cap ETF (FXI) has been trading even higher than that … Read more
A German grandmother and her five-month-old grandson are missing after a flash flood swept through the house they were staying in near Pisa, in Tuscany. The German family of holidaymakers reportedly called emergency services on Monday evening as soon as the nearby River Sterza broke its banks and water started coming into the house from … Read more
An Israeli airstrike in Beirut killed a top Hezbollah commander, Israel Defense Forces (IDF) confirmed on Tuesday, one day after hammering hundreds of Hezbollah targets in Lebanon. The strike killed Ibrahim Muhammad Qabisi, commander of Hezbollah’s missiles and rockets force, along with other Hezbollah commanders, the IDF said. Israel has now conducted five targeted airstrikes … Read more
A Southwest Airlines Boeing 737 departs Los Angeles International Airport en route to Las Vegas on September 19, 2024 in Los Angeles, California. Kevin Carter | Getty Images Elliott Management said Tuesday it will call a special meeting at Southwest Airlines “as soon as next week,” shortly after the company put forward a sweeping board shakeup … Read more
Israeli President Isaac Herzog threatened further military action against Hezbollah one day after Israel launched air strikes across Lebanon, killing more than 550 people in the country’s deadliest day in nearly two decades. It marks a dramatic escalation of hostilities between Israel and Iranian-backed Lebanese militant group Hezbollah following nearly 12 months of strikes since … Read more
US President Joe Biden speaks during the United Nations General Assembly (UNGA) in New York, US, on Tuesday, Sept. 24, 2024. Jeenah Moon | Bloomberg | Getty Images President Joe Biden attempted to square the diplomatic record and goals of his presidency with the grim reality of wars in the Middle East, Ukraine and Sudan … Read more
As Israel continues to bombard southern Lebanon, thousands of civilians are fleeing their homes. Lebanon’s health ministry says 558 people have been killed, including 50 children, in strikes since Monday. The BBC’s Carine Torbey visited a school in the capital Beirut, which has been turned into a shelter for the displaced. Follow here for live … Read more