BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry US President Donald Trump's "indiscriminate" trade tariffs, saying they are illegal and risk hurting the global economy. It warns that such measures "threaten to further reduce global trade" and are "affecting the prospects for global economic development."
UK state debt is as big as the country's economic output for the first time since the 1960s, data showed Friday, as the new government warns of tough fiscal decisions before its maiden budget. - 'Tough decisions' - Friday's data also showed "the highest August borrowing on record, outside the (Covid) pandemic", Darren Jones, a senior official at the UK Treasury, said in a statement.
The Bank of Japan left interest rates unchanged on Friday, after a decision to hike them in July pushed the yen sharply higher and fuelled turmoil across world markets. Japanese central bank officials said borrowing costs would be left at 0.25 percent, a policy decision widely predicted after the fallout from the previous hike.
Asian markets built Friday on the latest global rally after a jumbo US interest rate cut, while the yen edged up as focus turns to the Bank of Japan policy decision later in the day. With the Fed now out the way, attention turns to the Bank of Japan as it winds up its own policy meeting.
In his first day at Boeing, Kelly Ortberg visited the factory floor to speak with workers on the 737 MAX program, part of the new CEO's effort to "reset" labor relations. "Boeing is going to have to raise its offer and the workers are going to have to lower their expectations," said Cornell University labor relations expert Harry Katz.
Japanese inflation rose slightly in August, with prices up 2.8 percent year-on-year, official data showed Friday, hours before the Bank of Japan was widely expected to leave interest rates unchanged. Later Friday the BoJ was forecast to leave its benchmark interest rate unchanged, with all 53 economists polled by Bloomberg News predicting that borrowing costs will be left at 0.25 percent.
The US Federal Reserve's decision to cut interest rates by half a percentage point gives consumers a much-needed psychological boost ahead of November's presidential election.
A cleaning process leading to fuel hose degradation during refurbishment may have caused a recent Airbus A350 engine fire that triggered dozens of Cathay Pacific flight cancellations this month, the EU aviation regulator said Thursday. In its report, Hong Kong investigators said the Cathay flight crew saw an engine fire warning for the number two engine shortly after liftoff.
European Commission President Ursula von der Leyen on Thursday announced 10 billion euros ($11 billion) in funds for member nations reeling from "heartbreaking" devastation after the floods caused by Storm Boris. "At first sight 10 billion euros are possible to mobilise from the cohesion funds for the countries that are affected.
Nigeria's foreign exchange reserves have seen a net inflow of $2.36 billion every month in the last seven months of this, providing relief to the forex market.
Economy
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