Powell bolsters case for Fed rate pause as inflation stays muted

San Francisco Federal Reserve Chairman Jerome Powell made clear he and his colleagues are in no hurry to adjust interest rates as growth slows and inflation stays muted, but said the US central bank would announce new details of plans for its balance sheet “reasonably soon.” In a speech late Friday in Stanford, California, Powell […]

Saudi court approves detained tycoon Sanea’s bankruptcy filing

DUBAI/RIYADH: A Saudi court has approved an application by detained and indebted billionaire Maan Al Sanea and his company, Saad, to have their case resolved through the kingdom’s new bankruptcy law, the company’s financial adviser and two sources familiar with the matter told Reuters. The ruling in February could provide a resolution to one of […]