Zhang Peng | LightRocket | Getty Images The U.S. Federal Reserve‘s interest rate cut takes some pressure off China‘s central bank, amid the multitude of challenges it already faces to keep the economy growing steadily. The People’s Bank of China is unlikely to respond with major changes to its monetary policy, analysts said. Instead, the
Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters Traders now see a bigger chance of another rate cut by the Federal Reserve in September after it lowered interest rates for the first time since 2008 and hinted at further accommodation. The fed funds futures market now points to
Graiki | Moment Open | Getty Images Retirees are facing a tough decision: Should they make up for even less growth on their cash by ramping up stock exposure? On Wednesday, the Federal Reserve lowered the federal funds rate — the interest rate banks charge to lend each other money — by 0.25%. The range
Japan’s decision to restrict exports of three chemicals used in the production of semiconductors and display screens to South Korea could affect Samsung’s product launch; and give Apple an edge over its Korean competitor. That’s according to Rolando Hernandez, vice president of Valid, a mobile solutions provider. “The edge that Apple could have over Samsung
College fund. Piggy bank with coins. Money for education. Getty 529 plans and custodial accounts are two of the most common ways to save for college, but they have distinctly different benefits for families. Understanding the differences between the two savings methods is essential to choosing the right one for you and your children, so
This Hamptons-style home on Kiawah Island lists for nearly $10 million. Kiawah Island Real Estate Kiawah Island, South Carolina is a beach, golf and luxury resort playground, currently basking in summer tourism. An unspoiled sanctuary, the island’s landscape of maritime forests, sand dunes, and upland marshes is equally amenable to wildlife such as deer, bobcats,
Workers sewing in a clothing factory in Bozhou, east China’s Anhui province. STR | AFP | Getty Images China’s manufacturing activity contracted in July, according to results of a private survey released on Thursday. The Caixin/Markit factory Purchasing Managers’ Index for was 49.9 — slightly better than expected. Analysts polled by Reuters had expected the indicator
Qualcomm Inc. CEO Steve Mollenkopf. Getty Images Qualcomm issued guidance for September quarter earnings and revenue significantly lower than analyst expectations on Wednesday. The stock dropped as much as 5% in after-hours trading. Here’s how the company did versus expectations: Earnings: $0.80 per share, excluding certain items, vs $0.75 expected according to analysts polled by
A Fitbit display at a Target store in Los Angeles. Getty Images Check out the companies making headlines after the bell: Shares of Fitbit plummeted as much as 21% in after-hours trading after the maker of health and fitness devices cut its guidance for the next quarter. In its second-quarter earnings report, the company said,
View of Abu Dhabi’s skyline at sunset from Dhow Harbour in the UAE. Getty Images Singapore sovereign wealth fund GIC has joined major Wall Street investors in a landmark oil pipeline partnership with Abu Dhabi’s National Oil Company (ADNOC), bringing the total investment in the project to nearly $5 billion. The move, which will see