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Pakistan aims to privatize flag carrier in November: Finance Minister
Pakistan is hoping to finalize both the delayed privatization of its flag carrier and the outsourcing of Islamabad's international airport in November, the country's finance minister said Wednesday. Speaking Wednesday, the finance minister said the five-month delay was down to two factors: ensuring macroeconomic stability, and doing the proper due diligence of the interested parties.
Tesla shares jump as profits rise on lower expenses
Tesla shares surged Wednesday after the electric car maker reported a jump in profits, as increased auto sales and lower expenses offset the drag from a drop in vehicle prices.
US fines Apple and Goldman Sachs over Apple Card
The United States fined Apple and Goldman Sachs a total of $89 million on Wednesday, accusing them of deceiving users of the iPhone maker's credit card. The CFPB ordered Goldman Sachs to pay at least $19.8 million in compensation and a $45 million fine, while iPhone-maker Apple was hit with a $25 million fine. elm-gc/dw
US businesses 'hesitant' before 2024 elections: Federal Reserve
Uncertainty about the upcoming US elections had cooled economic activity across the country, the Federal Reserve said Wednesday, noting that many businesses and consumers were pausing major decisions until after Election Day.
BHP denies responsibility for 2015 Brazil mine disaster at London trial
Australian mining giant BHP on Wednesday denied responsibility for a 2015 dam collapse in Brazil, one of the country's worst environmental disasters, as it opened its defence at the High Court in London. The Australian mining giant has also said that the quality of river water contaminated by the fallout has returned to pre-disaster levels.
Lagarde says ECB should be careful with rise in emerging currencies
The European Central Bank should keep a close eye on the rise in emerging currencies like the Chinese yuan, its President Christine Lagarde said Wednesday at an event in Washington.
US existing home sales slip in September to near 14-year low
Sales of previously owned US homes slowed to their lowest rate in nearly 14 years last month, according to industry data released Wednesday, despite cooler mortgage rates. Part of the reason home sales have been stalling is that existing homeowners are reluctant to enter the market after having locked in lower mortgage rates previously.
Bank of Canada cuts rates, says fight against inflation 'worked'
Canada's central bank cut its key interest rate by half a point Wednesday, reducing it to 3.75 percent and offering borrowers further relief as it claimed the battle against inflation had proven successful.
China should use fiscal policy to boost growth: IMF
The Chinese government should use its tax-and-spend policies to help boost flagging economic growth, a senior IMF official told AFP ahead of key meetings this week in Washington.
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