Both of Canada’s major freight railroads have come to a full stop because of a contract dispute with their workers, an impasse that could bring significant economic harm to businesses and consumers in Canada and the U.S. if the trains don’t resume running soon. Canadian National and CPKC railroads both locked out their employees after the deadline of 12:01 a.m. Eastern Thursday passed without new agreements with the Teamsters Canada Rail Conference that represents some 10,000 engineers, conductors and dispatchers. All rail traffic in Canada and all shipments crossing the U.S. border have stopped, although CPKC and CN’s trains will continue to operate in the U.S. and Mexico.
Bangladesh to hike interest rates to 9% in coming days to tame inflation, cbank chief tells BBC
The move comes after weeks of political unrest in the country fuelled a sharp rise in inflation, touching 11.66% in July, amid an ongoing struggle with shrinking reserves and exports from the mainstay garments industry taking a hit. Bangladesh Bank's new governor, Ahsan H. Mansur, appointed just a week ago, also said that he would raise interest rates further to 10% or more in the coming months. Mansur could not be immediately reached for a comment.
Bitcoin's Uptrend Threatened by Looming 'Stochastics' Signal: Fairlead Strategies
The pending signal, if confirmed, would imply a challenging time ahead, according to analysis by Fairlead Strategies.
Value of Most Expensive NFTs Plummet as NFT Winter Continues
The once-booming market for non-fungible tokens (NFTs) has cooled significantly from its peak when digital artwork captivated global attention.
Bitcoin's Uptrend Threatened by Looming 'Stochastics' Signal: Fairlead Strategies
The pending signal, if confirmed, would imply a challenging time ahead, according to analysis by Fairlead Strategies.
Bitcoin Rises as Fed Hints at Possible Rate Cut in July Meeting Minutes
Bitcoin (BTC)'s price has increased following the release of the U.S. Federal Reserve's July meeting minutes, and is currently trading at $60,271.
Bank of Korea signals rate cuts as inflation, growth slow
SEOUL (Reuters) -South Korea's central bank kept interest rates unchanged on Thursday but signalled it was ready to start easing policy as price pressures and growth eased, raising expectations for a rate cut at its October meeting. The Bank of Korea held the benchmark interest rate at 3.50%, a decision expected by 38 out of 40 economists surveyed by Reuters. However, the BOK said in its policy statement it now needed to "examine the proper timing of rate cuts while maintaining a restrictive monetary policy stance."