By Sruthi Shankar and Stella Qiu (Reuters) – World stocks hovered near record highs on Friday, underpinned by a big interest rate cut from the Federal Reserve earlier this week, while the yen eased after Bank of Japan Governor Kazuo Ueda tempered market expectations around imminent rate hikes. The dollar climbed 1.2% on the Japanese […]
Nike veteran Hill to replace Donahoe as CEO; shares jump
By Juveria Tabassum, Nicholas P. Brown (Reuters) -Nike said on Thursday that former senior executive Elliott Hill will rejoin the company to succeed John Donahoe as president and CEO, as the sportswear giant shakes up its leadership amid efforts to revive sales and battle rising competition. The company’s shares rose 8% in after-hours trading. Hill […]
Central banks may face volatile inflation for years to come, ECB’s Lagarde says
FRANKFURT (Reuters) – Profound shifts in the world economy could make inflation volatile for years to come, complicating efforts to control prices, but sticking with inflation-targeting regimes is still the best option, European Central Bank President Christine Lagarde said on Friday. Economic shifts from deglobalisation and protectionism to vast advances in technology have puzzled economists […]
US FDA approves Zevra’s treatment for rare genetic disease
(Reuters) -The U.S. Food and Drug Administration has approved Zevra Therapeutics’ drug for a rare and fatal genetic disorder, making it the first treatment to get a nod for the condition, the health regulator said on Friday. The company has been trying for years to bring the drug to market after the FDA previously declined […]