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Republican Senator Thom Tillis has announced his intent to block Kevin Warsh's nomination to become the next chairman of the Federal Reserve. Tillis cited an ongoing criminal investigation into renovations at the Federal Federal Reserve Building in Washington D.C. as the reason for his decision.
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German officials are advocating for the EU to abandon its gas storage targets upon their expiration in 2027. Instead, they want to adopt a new strategic reserve system. This new system would be managed by individual EU member states.
The Dow Jones Industrial Average dropped 215 points, or 0.8%, to 24,424. The S&P 500 declined 23 points,or 0.9%, to 2,661. The tech-heavy Nasdaq Composite lost 76 points,. or 1%, to 7,119.
Republican Senator Thom Tillis of North Carolina has stated that the nomination of Kevin Warsh to lead the Federal Reserve does not alter his position on the criminal investigation into current Chair Jerome Powell. The investigation, which Tillis considers "frivolous," must come to an end before he approves any nominee for the Fed's top position.
The US producer price index (PPI) climbed 0.5% in December, up from 0.2% in November. The advance was driven primarily by a surge in the costs of services, which experienced a 0.6% monthly increase. Economists had anticipated a more moderate gain of 0.3%.
The opening weeks of 2026 brought an unexpected twist to the oil market, with prices soaring above expectations. This new trend was set in motion by a series of geopolitical tensions and supply disruptions. Some analysts remain skeptical about the sustainability of the current price trend.
Kevin Warsh, a former Federal Reserve governor, is the nominee to be the next chair of the Federal Reserve. The news sent shockwaves through financial markets, with gold prices experiencing a significant sell-off as a result. The US dollar, meanwhile, climbed in value, with the Bloomberg dollar index rising against all major peers.
President Donald Trump announced his intention to nominate Kevin Warsh as the next chair of the Federal Reserve. The announcement drew criticism from an economist who believed Trump had better choices. Meanwhile, Colgate-Palmolive reported stronger-than-expected sales growth in the fourth quarter, thanks to a rebound in Latin America.
President Donald Trump nominated former Federal Reserve governor Kevin Warsh as his pick for the central bank's chair. Warsh is known for his hawkish stance on monetary policy. Meanwhile, travel booking platform GetYourGuide reported €1B in revenue and profitability.
Kevin Warsh is a former governor of the Federal Reserve. He has been nominated by President Donald Trump to be the next chair of the central bank. Warsh's career in finance spans over two decades, including his tenure at the Federal Fed. He was known for his skepticism towards the use of quantitative easing and low-interest rates.
Investors are diversifying their portfolios away from the United States due to growing uncertainty. European markets offer a more stable environment for investors. The shift in investor behavior could have significant implications for the European markets.
The Africa Club is a group of multilateral financial institutions in Africa. The alliance has set up an early-warning network for debt distress. The network uses a range of data and analysis tools to identify potential distress.
MSCI's warning to downgrade Indonesia to a frontier market caused a stock market rout. Investors seeking high yields on debt are driving gains in the naira against the dollar. The Central Bank of Nigeria is expected to cut interest rates, making Nigerian debt less attractive.
President Donald Trump is preparing to announce his pick for the next chair of the Federal Reserve on Friday morning. Sources familiar with the matter indicate that Kevin Warsh is the frontrunner for the position. Warsh, a former member of the Fed Board of Governors, has been a vocal critic of low-interest rate policy.
Pakistan is in talks with the International Monetary Fund over a plan to boost economic growth. Chinese energy drink maker Eastroc Beverage Group has raised HK$10.1 billion ($1.3 billion) through its Hong Kong share sale. Cocoa prices fell below $4,000 per metric ton for the first time since 2023.
The aerospace and defense industry is experiencing an unprecedented surge in IPO activity. Investors are seeking to diversify away from the US, which they now view as an increasingly uncertain environment. Silver prices experienced a sharp decline, with the precious metal falling below the $100 per ounce mark. This came in the wake of a report suggesting that the Trump administration is planning to nominate Kevin Warsh for the position of Federal Reserve chair.
China's largest oil buyer, Unipec, is reportedly looking to buy Canadian crude. The move comes after US sanctions against Venezuela have cut off the flow of crude.
Rumors that Kevin Warsh could be President Trump's pick for the next chair of the Federal Reserve. Commerzbank's commodity and FX research head, Thu Lan Nguyen, shared her insights on the matter during an interview with Bloomberg Television. Nguyen acknowledged the possibility that Warsh's appointment could influence the gold market.
India's long-awaited plan to enable lending and borrowing of sovereign bonds has been put on hold due to unclear tax implications. The infrastructure for this plan has been in place for over 18 months. The lack of clarity on taxation issues has prevented financial institutions from participating in the scheme.
Former UK Business Secretary Vince Cable discusses the rationale behind Prime Minister Keir Starmer's recent trip to China. Cable emphasized the need for countries like the UK to "hedge" and build a stronger relationship with China due to erratic behavior of US President Donald Trump.
Warsh's appointment could have a major impact on the Federal Reserve's monetary policy. He is expected to push the Fed to raise interest rates.
Shriram Finance Executive Vice Chairman Umesh Revankar discusses budget expectations, logistics and road capex, U.S. tariff impact, and MUFG's stake in the underbanked market.
France's economy grew by 0.2% in the final quarter of 2022. Consumer spending and investment helped offset the slowdown from the previous three quarters. India's investigation into the Air India crash suggests deliberate pilot action as a possible cause.
The Chinese government is planning to inject $297 billion into the country's insurance sector. The move is expected to bolster the financial stability of major insurers. China Life Insurance is likely to be one of the biggest beneficiaries.