US central bankers opened their two-day policy meeting on Tuesday with another steep interest rate hike seen as a near certainty amid stubbornly high inflation.. Markets have been roiled in recent days by the decidedly hawkish statements from central bankers, and Powell's press conference after the meeting will be closely scrutinized for information on what he thinks the next steps will be.
The "enormous scale" of Chinese lending to developing nations makes it critical Beijing do more to participate in restructurings to avoid a new international debt crisis, a senior US Treasury official said Tuesday.. "China's enormous scale as a lender means its participation is essential," Neiman said in a speech to the Peterson Institute for International Economics.
Twitter's lawyers will question Elon Musk next week as they gather evidence in a legal battle to hold him to his $44 billion buyout deal, a Tuesday court filing said.. The long list of those being asked for documents or to answer questions in the case includes Twitter co-founder and former chief Jack Dorsey, who was to be deposed Tuesday by Musk's lawyers.
German gas company Uniper said Tuesday it was on the brink of being nationalised as Berlin stepped in to prop up the energy sector amid a crisis triggered by the Russian invasion of Ukraine.. Fortum provided an eight-billion-euro loan to Uniper in January as the price of gas had already begun to climb amid tensions with Moscow before the invasion of Ukraine.
The European Union hopes to strike a free-trade agreement with Indonesia within two years despite disputes with Southeast Asia's largest economy over palm oil and nickel, the bloc's trade commissioner said Tuesday.. The trade commissioner is in Indonesia for a G20 ministerial meeting.
McDonald's in Kyiv re-opened on Tuesday for the first time since Russia's invasion, a sign life was returning to normal in the capital after nearly seven months of war.. "As part of the phased reopening program, seven more stores in Kyiv will open, followed by additional restaurants in the capital and other cities in the west of the country," it added.
Facebook's parent company Meta on Tuesday suffered a setback in its challenge against German antitrust rules as a top adviser to the EU Court of Justice backed the regulator.. On Tuesday, the EU court's advocate general said that while the antitrust authority does not have the jurisdiction to rule on an infringement of data protection rules, compliance with such rules could be taken as an "important indicator" in ascertaining if an entity has breached competition rules.
The government of Hungarian nationalist Prime Minister Viktor Orban is proposing a raft of anti-graft measures to unlock billions of euros in blocked EU funds as the country confronts an economic downturn.. The measures aim to create independent anti-corruption watchdogs to monitor the use of EU funds and make the legislative process more transparent.
Asian markets enjoyed a much-needed bounce Tuesday, tracking Wall Street's late rally as investors gird themselves for another big Federal Reserve interest rate hike this week, though fears of a recession remain elevated.. Still, Asian markets were on the up Tuesday.
Hong Kong's leader on Tuesday said he will soon make a decision on further relaxing coronavirus restrictions, as residents and businesses decry quarantine rules that have kept the finance hub cut off for more than two years.. Hong Kong has adhered to a version of China's strict zero-Covid rules throughout the pandemic, battering the economy and deepening the city's brain drain as rival business hubs reopen.
