AFP Asia Business
Yen drops as Bank of Japan maintains key interest rate
The yen weakened against the dollar Thursday after the Bank of Japan kept borrowing costs unchanged, extending a retreat for the currency that came after the Federal Reserve forecast fewer rate cuts.The BoJ said after a two-day policy meeting that it would hold rates at around 0.25 percent, pushing the yen cheaper than 155 per …
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Asian markets track Wall St rout as Fed pares rate-cut forecast
Asian markets sank Thursday and the dollar held gains following a severe sell-off on Wall Street that came after the Federal Reserve halved its rates outlook and boss Jerome Powell warned officials’ focus was back on fighting inflation.Attention now turns to the Bank of Japan as it holds its own policy meeting with debate swirling …
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TikTok’s rise from fun app to US security concern
As the US Supreme Court considers whether to uphold a law that could get TikTok banned in the United States, here is a look at the rise of the video-snippet social app.- Genesis -In 2016, Beijing-based ByteDance launched Douyin, a short video sharing app, making it available only in China.ByteDance released TikTok for the international …
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US stocks tumble, dollar rallies as Fed signals fewer 2025 rate cuts
Wall Street stocks tumbled and the dollar rallied Wednesday after the Federal Reserve lowered borrowing rates again but projected fewer 2025 interest rate cuts in light of lingering inflation concerns.US indices lurched lower following the 1900 GMT Fed announcement of the actions but fell further during and after Federal Reserve Chair Jerome Powell’s news conference.All …
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US Supreme Court agrees to hear TikTok ban case
The US Supreme Court agreed on Wednesday to hear TikTok’s appeal of a law that would force its Chinese owner to sell the online video-sharing platform or shut it down.The top court scheduled oral arguments in the case for January 10, nine days before TikTok faces a ban unless ByteDance divests from the popular app.The …