US shares slip as Fed warns on economy

US shares slip as Fed warns on economy

The S&P 500 and Dow has slipped as Federal Reserve Chairman Jerome Powell warned of an extended period of weak growth and stagnant incomes, while he also dismissed speculation over negative interest rates. “There is a sense, growing sense I think, that the...
US shares slip as Fed warns on economy

Chanel says it will raise prices of goods

French luxury house Chanel says it is increasing prices on its handbags and some small leather goods worldwide to take into account a rise in the cost of raw materials amid the coronavirus pandemic. In an emailed statement responding to a Reuters query, Chanel said...
US shares slip as Fed warns on economy

Norway fund blacklists Glencore, eyes BHP

Norway’s $US1 trillion ($A1.5 trillion) wealth fund is excluding some of the world’s biggest commodities firms from its portfolio, including Glencore and Anglo American, because of their use and production of coal. Underlining the growing role of climate...
US shares slip as Fed warns on economy

US Fed warns sustained recession possible

US Federal Reserve Chair Jerome Powell is warning of the threat of a prolonged recession resulting from the viral outbreak and is urging Congress and the White House to act further to prevent long-lasting economic damage. The Fed and Congress have taken far-reaching...
US shares slip as Fed warns on economy

Stocks fall on renewed virus fears

Stocks and oil prices have fallen as fears about a second wave of coronavirus infections gripped financial markets. Investors, many facing steep losses due to the pandemic-driven shakeout in assets over the past few months, have also had to contend with renewed...