Dollar reaches a one-month high as Fed officials discuss rate increases
In the lead-up to their important Jackson Hole symposium, Federal Reserve officials proceeded to stress the necessity for additional interest rate increases, pushing the U.S. dollar to a new one-month high versus major rivals on Friday. The dollar index increased 0.14% to 107.63 from its previous high of 107.72, reached on July 18. This week, […]
Fed minutes may hint justification for the upcoming jumbo rate hike
Officials from the Federal Reserve are adamant that they will keep increasing interest rates until soaring inflation is brought under control, and the minutes from their policy meeting on July 26–27, which will be released on Wednesday, may reveal just how aggressive they want to be. The minutes, which are scheduled for release at 2 […]
CEO of Philips retires amidst a huge recall which is underway
The Dutch health technology giant Philips (PHG.AS) announced on Tuesday that Frans van Houten, the Chief Executive will depart the company in October. This comes after a significant product recall reduced Philips’ market value by more than half during the previous year. Philips outed that Roy Jakobs, who is in charge of the group’s Connected […]
Amin Nasser, a Saudi Aramco native engineer who rose to the top
At a business gathering in Riyadh this year, the Saudi gas minister paused at around 9 o’clock and informed the crowd that Amin Nasser, the president of state-owned oil company Saudi Aramco, had to go to bed. He wasn’t saying that lightly. In his four decades of work, Nasser has developed a reputation for a […]