TO A CASUAL visitor, the basement of the William Eckhardt Research Centre, at the University of Chicago, might appear nothing special. Whereas the upper floors of the building are a postmodern tower of angled glass, underground the walls are bare-white MDF.
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TopThe Federal Reserve decided to leave its key interest rate unchanged
The Federal Reserve decided to leave its key interest rate unchanged at a range of 5% to 5.25%. It was the first time that America’s central bank left the rate on hold following ten consecutive increases, which started in March 2022. However, it indicated that it would probably lift the rate twice again this year.
The world this week:Business
A surge in Nvidia’s share price pushed it briefly past $1trn in stockmarket value. The American co...
TopThe world this week:Business
Elon Musk appointed Linda Yaccarino as chief executive of Twitter, five months after he said he would relinquish the role. Mr Musk took over the company last October. Ms Yaccarino comes from NBCUniversal, where she was in charge of advertising.
TopThe world this week:Business
In an attempt to stave off more banking turmoil, regulators in California took control of First Republic Bank, a regional lender based in San Francisco, and placed it into federal receivership. Much of the bank was then sold to JPMorgan Chase following a bidding auction.
TopThe world this week:Business
Oil prices rose sharply after OPEC+ announced a surprise cut to production. The cartel said it wanted to support stability in the market, which is another way of saying it didn’t like the dip in oil prices in mid-March. It also wanted to deter speculators who have been betting on softer oil prices.