For Turks who own assets like homes, wealth has grown as inflation pushes the costs of those assets up.
UK inflation holds steady at Bank of England’s 2% target, above expectations
The Office for National Statistics released inflation figures for June on Wednesday.
HSBC appoints Georges Elhedery as group CEO starting Sept. 2
Elhedery, who is the current chief financial officer, will replace outgoing head Noel Quinn in September.
Trump says he would let Fed Chair Powell finish his term if he wins in November, Bloomberg reports
Former President Donald Trump told Bloomberg Businessweek that he would let Fed chief Jerome Powell complete his term if he wins in November.
Stocks making the biggest moves after hours: Five Below, Interactive Brokers, J.B. Hunt and more
These are the stocks posting the largest moves in extended trading.
IMF sees ‘bumps’ in path to lower inflation
Stubborn services and wage inflation will slow the pace of disinflation in the U.S. and globally, according to the IMF.
Stocks making the biggest moves midday: Charles Schwab, Match Group, Bank of America and more
These are the stocks posting the largest moves in midday trading.
Ray Dalio makes the case for gold as the precious metal hits new record high
Ray Dalio believes gold deserves a significant portion of one’s portfolio, saying the precious metal is still appealing even at record highs.
IMF upgrades UK growth forecast in another boost to new Labour government
The upgrades come after two years of stagnation, with the U.K. falling into a shallow recession in the second half of 2023.
Gold heads for record high close on view that Fed is poised to cut rates
Rising expectations for a September rate cut following the latest inflation data bolstered demand for bullion.