Bank
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World
Skepticism of Digital Currency Needs to Be Taken Seriously
The world’s central banks are moving briskly, and it would seem inexorably, toward introducing digital forms of cash. But I think they are underestimating the backlash from people who worry that digital currencies issued by central banks will become ...
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World
Trump Will Not Testify as Scheduled in Civil Fraud Trial
Donald J. Trump has changed his mind about returning to the witness stand on Monday to testify in his own defense.
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World
Gold Bars and Tokyo Apartments: How Money Is Flowing Out of China.
Affluent Chinese have moved hundreds of billions of dollars out of the country this year, seizing on the end of Covid precautions that had almost completely sealed China’s borders for nearly three years. They are using their savings to buy overseas ...
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Business
Sex Workers Have Been Shunned by Banks, Even When Their Work Is Legal
Bella Cummins has run Bella’s Hacienda Ranch, her Nevada brothel, for nearly four decades — and for four decades, she’s been shunned by much of the banking industry. She’s been denied a mortgage and several other loans, while many of her employees ...
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Business
Russia’s Central Bank Raises Rates to 15 Percent to Curb Inflation
The jump, from 13 percent, would bring a long period of “tight monetary conditions” in order to ease price pressures, the bank said.
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Business
European Central Bank Keeps Rates on Hold for First Time in Over a Year
“Inflation is still expected to stay too high for too long,” the bank said, but noted that its campaign of interest rate increases was helping to curb price pressures.
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Business
Morgan Stanley’s Post-Gorman Era Begins
Wall Street’s most closely watched succession saga ended with the selection of Ted Pick as the bank’s next leader. But he now must keep the momentum going.
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Business
Morgan Stanley Names Ted Pick, a Bank Veteran, Its Next C.E.O.
Mr. Pick’s ascension caps an unusually public three-way race to replace James Gorman, who presided over steady growth after taking over in 2010.
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World
Prospect of Prolonged Israel-Gaza War Adds Economic Havoc to Human Toll
As the fighting between Israel and Hamas risks bursting into regionwide chaos, the prospect of a long and potentially widening war could pile economic havoc atop a devastating human toll. For Gaza, a broader conflict would almost certainly deepen the ...
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Business
U.K. Inflation, Unchanged at 6.7 Percent, Ends String of Declines
The News The inflation rate in Britain held steady in September, defying expectations of a small decline, after as rise in fuel prices offset a slowdown in food inflation. Consumer prices overall rose 6.7 percent last month from a year earlier, the ...