IBT Staff Reporter

The Swiss National Bank raised its policy interest rate for the first time in 15 years in a surprise move on Thursday and said it was ready to hike further, joining other central banks in tightening monetary policy to fight resurgent inflation.

The Swiss National Bank raised its policy interest rate for the first time in 15 years in a surprise move on Thursday and said it was ready to hike further, joining other central banks in tightening monetary policy to fight resurgent inflation.

European stocks tumbled to their lowest levels in 16 months on Thursday after policy tightening in Britain and Switzerland fuelled fresh worries about the impact of inflation on the global economy.

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New Australian Foreign Minister Penny Wong said on Thursday that her visit to the Solomon Islands this week as well as trips to other countries in the region were due to her belief that Australia had ground to make up on the issue of climate change.

Boeing Co has, for the moment, sidestepped one particular supply chain snag that curbed 737 MAX output and deliveries last month, and is working to stabilize production at its targeted monthly rate, an executive said on Wednesday.

Spanish homeowners, fearing a return to the turmoil that nearly bankrupted their country a decade ago, are rushing to shield themselves from rising prices and runaway borrowing costs by striking new mortgage deals that lock in repayment rates.

A markets sell-off has brought back memories of the euro zone debt crisis more than a decade ago, highlighting divisions that have plagued the currency bloc's efforts to forge a closer bond.

Former VTB banker Riccardo Orcel has taken a new role as chairman of London-based agricultural trader Quanton Commodities as he seeks to revamp his career after more than a decade at Russia's second-largest lender.

Major members of the World Trade Organization reached an initial deal on Thursday, winning over India which said it was confident more global accords could be achieved as negotiations on fishing, vaccines and food security entered their final hours.

Negotiations at the World Trade Organization aimed at clinching deals on food security, fishing and vaccines entered their final hours on Thursday after all-night talks, with some trade sources hopeful that efforts to circumvent Indian opposition would succeed.

All-night negotiations at the World Trade Organization aimed at clinching deals on food security, fishing and vaccines paused around dawn on Thursday with no immediate sign that efforts to overcome Indian opposition had succeeded.

South Korea's economy will grow at its slowest pace in three years in 2022 as the world faces supply bottlenecks, surging inflation and rapidly rising interest rates, the finance ministry said on Thursday.

South Korea's economy will grow at its slowest pace in three years in 2022, as the world faces supply bottlenecks, surging inflation and rapidly rising interest rates, the finance ministry said on Thursday.

Cosmetics maker Revlon Inc has filed for bankruptcy, falling victim to global supply chain disruptions that pushed up raw material costs and prompted vendors to demand upfront payments.

Revlon Inc has filed for bankruptcy after the U.S cosmetics firm buckled under debts it built up in a bid to compete with online-focused upstarts.

Revlon Inc has filed for bankruptcy after the U.S cosmetics firm buckled under debts it built up in efforts to compete with online-focused upstarts.

Revlon Inc has filed for bankruptcy after the U.S cosmetics firm buckled under debts it built up in efforts to compete with online-focused upstarts.

Investors' faith in a soft landing for the U.S. economy is being heavily tested, as a jumbo-sized interest rate hike from the Federal Reserve stirs worries over recession and more volatile trading ahead.

Russia, supported by Belarus, Central African Republic, Kyrgyzstan and Mali, has torpedoed a Western-backed proposal to discuss whether its diamonds are funding war ahead of an international conflict diamond meeting in Botswana, letters seen by Reuters show.

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Bearish bets on several Asian currencies hit a record high in the face of rising U.S.

Sydney residents were urged on Thursday to conserve power in the evening as much as possible to avert blackouts, one day after Australia suspended its spot electricity market due to unscheduled outages at ageing coal-fired utilities.

Australia's energy minister on Thursday urged households in Sydney to switch off lights in the evening to avert blackouts, as the country's power market remained suspended with more than a quarter of its coal-fired capacity knocked out.

Australia, under a new Labor government, on Thursday raised its 2030 target for cutting carbon emissions, bringing the country more in line with other developed economies' Paris climate accord commitments.

Global port congestion is set to continue until at least early 2023 and keep spot freight rates elevated, logistics executives said on Wednesday, urging charterers to switch to long-term contracts to manage shipping costs.

China's state planner said on Thursday it had approved 10 fixed-asset investments worth 121 billion yuan ($18.1 billion) in May, a more than six-fold jump from April, as policymakers seek to get economic growth back on track after a COVID-induced slump.

Australia submits more ambitious 2030 emissions target to UN

USGA boss can see LIV players having harder path to US Open