Global Growth Ebbs in Face of Ukraine War, China Slowdown
FRANKFURT—Economic growth is slowing in large parts of the globe as businesses struggle to navigate the effects of Russia’s invasion...
banking
The Pandemic Was Supposed to Push All Shopping Online. It Didn’t.
When millions of locked-down Americans went online during the Covid-19 pandemic, it looked like the possible start of a permanent...
Former Treasury Official Michael Barr Is Frontrunner for Top Fed Banking Regulator
WASHINGTON—Michael Barr, a former Treasury Department official, is the White House’s leading candidate to serve as the Federal Reserve’s top...
New York Fed: Public Expectations for March 2023 Inflation Hit 6.6% Record
Public expectations for the level of inflation a year from now hit a record in March, according to a survey...
Bank Deposits Could Drop for First Time Since World War II
U.S. banks have a streak of increasing deposits as a group every year since at least World War II. This...
Visa Expects to Make Up Lost Russia Revenue Within a Year
Visa Inc. has lost about 4% of the revenue booked during its most recent fiscal year by pulling out of...
Russia Cuts Interest Rate as Financial System Stabilizes
Russia’s central bank cut its key interest rate following an unscheduled meeting of policy makers Friday, a sign that efforts to...
Snoring Colleagues, Brushing Teeth With the Boss: Inside Shanghai’s Big Office Sleepover
HONG KONG—The Covid-19 pandemic forced many people to learn to work from home. In China’s financial center, it is now...
Fed’s Patrick Harker Expects Steady, Deliberate Path of Rate Rises
Federal Reserve Bank of Philadelphia President Patrick Harker said a series of rate increases is needed to tame inflation. “I...
Masks Come Off, Mandates Loosen as Companies Relax Covid-19 Protocols
U.S. companies are relaxing many of the vaccine and other Covid-related requirements that had become a staple of corporate life...
U.S. Jobless Claims Edge Higher Amid Tight Labor Market
New applications for U.S. unemployment benefits rose slightly last week, indicating a strong labor market in which employers are holding...
Former World Bank Chief Didn’t Act on Warnings of Sexual Harassment
Former World Bank chief Kristalina Georgieva knew about a top official’s sexual misconduct but failed to take any action despite...
Student-Loan Freeze Saves Borrowers Nearly $200 Billion as Biden Considers Extension
Around 37 million federal student-loan borrowers were spared $195 billion in loan payments since the government froze their payments at...
The Month Companies United Against Russia’s War
About 10 minutes into Sunday church services, Visa Inc. Chief Executive Alfred Kelly looked down at his phone and saw...
Home Sales Fell in February Amid Tight Supply, Rising Mortgage Rates
Sales of previously owned homes declined in February as rising mortgage-interest rates and a shortage of homes for sale made...
Fed Raises Interest Rates for First Time Since 2018
The Federal Reserve said it would lift interest rates and penciled in a series of further increases this year aimed...
Sen. Joe Manchin Signals Opposition to Sarah Bloom Raskin for Fed Post
WASHINGTON—A key Democrat came out against Sarah Bloom Raskin’s nomination to become the Federal Reserve’s top banking regulator, likely dashing...
Expats Quietly Leave Russia Over Financial and Safety Worries
It was just an internet rumor: Russia might seize bank accounts of foreigners in the country. But since Russia invaded...
White House to Order Broad Review of Cryptocurrencies
WASHINGTON—The White House is set to release an executive order this week tasking several federal agencies with conducting a broad...
The West’s Sanctions Barrage Severs Russia’s Economy From Much of the World
Western nations dropped economic sanctions of historic scale on Russia that are hobbling its financial system and effectively reversing 30...
