City Richmond Financial News

Gold prices scaled a record peak on Friday as concerns over U.S. President Donald Trump's fresh tariff plans ignited fears of a global trade war, driving a rush towards the safe-haven allure of the precious metal.

Subscribe to enjoy similar stories. Chileans on Sunday elected their most right-wing president in a generation, with hard-line conservative José Antonio Kast winning easily after vowing to clamp down on crime and illegal immigration. Kast’s victory over Jeannette Jara, a Communist, adds to a wave of electoral wins by right-wing politicians across Latin America, giving President Trump new allies who are on board with his anti-migrant policies.

Subscribe to enjoy similar stories. Hindalco Industries Ltd’s investor day made one thing clear—the metals giant is going all in on scale and efficiency. With a $10 billion capex plan split between India and subsidiary Novelis Inc.

Gen Z manager from Virginia has sparked widespread discussion online after revealing her unconventional stance on paid time off (PTO). Rather than making employees use their vacation days for emergencies, she insists that PTO should be reserved for rest and relaxation. Her leadership approach has earned her praise on social media, with many calling it a refreshing change in workplace culture.

Blackstone, Hillhouse Investment, TPG Capital, and General Atlantic have submitted non-binding bids to acquire AGS Health, valuing the healthcare IT services firm at around $1 billion, said multiple people aware of the development. EQT Partners, the Swedish fund that owns AGS Health, has hired JP Morgan and Bank of America to manage the sale process which will be launched by early next year, ET first reported in September 2024. EQT acquired AGS Health in 2019 for $320 million. Spokespeople at EQT, Blackstone, and General Atlantic declined to comment. Hillhouse and TPG Capital did not respond to email queries.

Crypto companies in Canada have found an unlikely ally — a bank owned by the Alberta government.

Federal Reserve officials on Wednesday pointed to the large policy uncertainty around tariffs and other issues arising from the early days of President Donald Trump's administration as among the top challenges in figuring out where to take U.S. monetary policy in the months ahead. Chicago Fed President Austan Goolsbee warned that ignoring the potential inflationary impact of tariffs would be a mistake, whereas Richmond Fed President Thomas Barkin said it remains impossible at this early stage to know where cost increases from any tariffs might be absorbed or passed along to consumers. The views of the two U.S. central bankers were emblematic of the cautious approach Fed officials are angling to take in deciding whether to resume interest rate cuts later this year or continue to keep them on hold. The Fed left its benchmark interest rate unchanged last week in the 4.25%-4.50% range after cutting it at three straight meetings to close out 2024. The U.S. economy is strong, the labor market is «plausibly» at full employment, and inflation has come down and is approaching the Fed's 2% goal, Goolsbee said in remarks prepared for delivery to the Chicago Fed's annual auto symposium in Detroit.

Move over, Moo Deng! There’s a new baby hippo in town, and her name is Poppy. Born at the Metro Richmond Zoo in Virginia, this pint-sized pygmy hippo is quickly becoming the latest internet sensation. Fans of Moo Deng, the adorable pygmy hippo from Thailand who captured hearts worldwide last summer, no longer need to travel across the globe to meet their favorite tiny mammal.

Wall Street index S&P 500 and Nasdaq will look to keep up the momentum. There is an important event coming up in the month of January as Donald Trump is scheduled to take charge of the US Presidency.

Donald Trump's repeated support for TikTok has sparked speculation about potential solutions to prevent the app's impending ban in the United States, though the path forward remains unclear.

Virginia Gov. Glenn Youngkin proposed a state budget plan on Wednesday that would permanently give tax relief on tips and cars, measures that his Republican administration has said would give money back to middle- and lower-income workers

The Canada Post strike, now in its third week, is set to cost Canada’s small- and medium-sized businesses more than $1 billion by Wednesday, according to the Canadian Federation of Independent Business (CFIB). The prolonged labour dispute, which began on Nov. 15, has paralyzed operations at the Crown corporation, disrupting supply chains and dealing a significant blow to small businesses during the critical holiday season.

UnboxingBLR Foundation, a nonprofit, has started work on beautification and infrastructure improvement on Church Street, a bustling shopping area in Bengaluru. The initiative, part of the BBMP’s “Namma Bengaluru, Namma Koduge” (“Our Bengaluru, Our Contribution”) program, aligns with UnboxingBLR’s mission of making Bengaluru a more vibrant city, a statement said. Foundation chairman Prashanth Prakash said his organization’s goal is to make Church Street an inspiring and engaging location for both locals and visitors. “We will work collaboratively with all stakeholders on this project which reflects our vision of a thriving Bengaluru that blends modern innovation with its cultural roots.”

Federal Reserve Chair Jerome Powell said the bigger-than-expected reduction was a sign of confidence that inflation is headed back to the 2% target and should not be seen as any indication of the pace of cuts going forward. Here is a look at the latest comments from Fed policymakers, sorting them under the labels «dove» and «hawk» as a rough shorthand for their monetary policy leanings, as best as can be figured. A dove is more focused on risks to the labor market and may want to cut rates more quickly, while a hawk is more focused on the threat of inflation and may be more cautious about rate cuts.

inflation to its 2% target may take longer than expected to complete and limit how far interest rates can be cut, Richmond Federal Reserve President Thomas Barkin said on Wednesday. In an interview with Reuters, Barkin said he supported the half-percentage-point rate cut the Fed approved last month and agreed the benchmark rate could fall perhaps by another half a percentage point by the end of this year to take account of how far inflation has declined.

A Federal Reserve official says he supports reducing the central bank’s key interest rate somewhat from its current level

The world’s largest technology companies dragged down stocks after rally that put the market on the brink of its all-time highs, with Nvidia Corp.’s earnings due in just a few days.

Wellington-Altus Private Wealth chief market strategist Jim Thorne argues the Fed must quickly get inflation to its neutral rate on Making Money.

CW Advisors has unveiled the latest step in its national growth strategy with a landmark acquisition.