From a political perspective, the majority leader of the US Senate called for Israel to hold new elections.
In economic terms, concerns persist about inflation and expectations of the Federal Reserve in the United States.
On the business front, the former US Treasury Secretary is forming a group of investors to acquire TikTok. On the other hand, JP Morgan was fined almost $350 million for failures in trade supervision.
Index hide
Policy
- Senator Chuck Schumer, leader of the US Senate and one of Joe Biden's top allies, gave a powerful speech on Thursday, criticizing Prime Minister Benjamin Netanyahu of Israel as a major obstacle to peace in the Middle East and calling a new leadership in Israel. Schumer's call for a new election comes amid growing frustration in the Biden administration over the number of civilian deaths in Gaza and its resistance to US post-war plans, including a new approach to creating of an independent Palestinian state.
You might be interested: The peso records its best performance for an electoral process in 5 decades
Economy
- Wall Street's main stock indexes fell on Friday on concerns that persistent inflation could affect the timing of the Federal Reserve's first interest rate cuts, causing turmoil in rate-sensitive stocks ahead of the meeting. from the central bank next week. In addition to the unexpected rise in inflation in February to 3.2%, separate data this week showed a 0.6% month-over-month increase in producer prices. Fed Chair Jay Powell said this month that the central bank was waiting until it had more confidence that inflation was moving sustainably toward 2% before cutting borrowing costs.
Business
- Former Treasury Secretary Steven Mnuchin said he is putting together a consortium to try to buy TikTok, which could be worth more than $100 billion, after the U.S. House of Representatives approved a bill on Wednesday. law that would force ByteDance, owner of TikTok, to sell the app to a non-Chinese company within six months or be banned from US app stores. However, it still needs Senate approval and President Joe Biden's signature. Several other investors have expressed interest in purchasing TikTok, although it's unclear how far along those efforts are.
- The Treasury Department's Office of the Comptroller of the Currency issued a $250 million fine against JPMorgan Chase on Thursday, while the Federal Reserve announced a fine of nearly $98.2 million on March 8, both related to the bank's alleged failure. in overseeing billions of transactions on 30 trading platforms. The Fed said it identified problems with the surveillance program that occurred over nearly a decade, from 2014 to 2023. The bank recently informed investors in a public document that a third regulator is preparing a separate action that will likely come accompanied by its own. monetary penalty.
The last:
High level Team of young journalists whose objective is to explain the most relevant business, economic and financial news. We are passionate about telling stories and believe in citizen and service journalism.