Economic growth
The Federal Reserve left interest rates unchanged on Wednesday, despite concerns about the impact of tariffs on the US economy. In a split vote, the Federal Open Market Committee (FOMC) voted 9-2 to keep rates at the 4.25%-4.50% range, with governors Christopher Waller and Michelle Bowman dissenting.
Economic growth
The Federal Reserve kept interest rates unchanged on Wednesday, despite increasing pressure from President Trump to lower rates. The decision to hold rates steady at 4.25 to 4.5 percent was made amid uncertainty over a raft of administration policies that could drag on the economy, including higher tariff
Economic growth
As the UK's Chancellor prepares to outline her plans for the autumn budget, the boss of Barclays has spoken out against increasing taxes for banks, citing the negative impact it could have on economic growth. CS Venkatakrishnan, also known as Venkat, emphasized that banks are already significant taxpayers
Economic growth
Barclays boss CS Venkatakrishnan has joined other top CEOs in cautioning Chancellor Rachel Reeves against increasing taxes for banks in the upcoming autumn Budget. Venkatakrishnan emphasized that banks already contribute significantly to the country's tax base and are crucial for driving economic growth. The CEO's warning
Economic growth
Senator Shelley Moore Capito of West Virginia has emphasized the benefits of the One Big Beautiful Bill (OBBB), a legislation aimed at preventing the largest tax increase in history for working- and middle-class Americans. By extending and expanding the successful Tax Cuts and Jobs Act, passed during President Trump'
Economic growth
In a major move to support Detroit's growing tech industry, city leaders have launched the $700,000 Detroit Startup Fund, designed to help local entrepreneurs scale their businesses and create jobs. The fund will award grants to 26 startups over the next year, with the potential to generate
Economic growth
Commercial Bank of Ceylon PLC has been at the forefront of driving inclusive economic growth in Sri Lanka by empowering Micro, Small, and Medium Enterprises (MSMEs) through a combination of innovative financial products, capacity-building initiatives, and deep community outreach. In 2024, the Bank was the largest lender to the SME
Economic growth
Barclays' Group chief executive CS Venkatakrishnan, also known as Venkat, has joined Lloyds Banking Group's Charlie Nunn in cautioning Chancellor Rachel Reeves against increasing taxes on banks in her autumn budget. The move comes as the Chancellor faces pressure to bolster the public finances following higher-than-expected Government
Economic growth
Global economic growth is predicted to be stronger than previously forecasted, with the International Monetary Fund (IMF) projecting a 3% growth rate in 2025 and 3.1% in 2026. This upgrades the previous forecast of 2.8% and 3% respectively in the April report. The upgrade is attributed to a
Economic growth
The International Monetary Fund (IMF) has revised its global economic growth projections, attributing the upgrade to the diminishing impact of trade tariffs and a significant increase in US imports. This revision marks a significant shift from previous predictions, with global growth expected to reach 3% in the current year and
Economic growth
The International Monetary Fund has projected that global economic growth will increase to 3.1% in 2026, exceeding initial expectations despite a slowdown in the U.S. economy caused by fluctuating tariffs. The IMF's world outlook also indicates that the U.S. has partly reversed course in lowering
Economic growth
New projections from the International Monetary Fund's (IMF) latest World Economic Outlook indicate that global economic growth will reach 3% in 2025 and 3.1% in 2026, a significant upgrade from the April forecast of 2.8% and 3%. This upgrade reflects factors such as a strong degree
