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WASHINGTON—Federal Reserve officials voted to hold interest rates steady at a 22-year high but signaled they were prepared to raise rates once more this year to combat inflation. With economic activity stronger than anticipated, a majority of officials also expected they would need to maintain interest rates near their current level through next year, according to projections released Wednesday at the conclusion of their two-day policy meeting. Fed officials raised their benchmark federal-funds rate at their previous meeting in July to a range between 5.25% and 5.5%.

The Federal Reserve held interest rates steady in a decision released Wednesday, while also indicating it still expects one more hike before the end of the year and fewer cuts than previously indicated next year.

G20 summit reported fair progress on some of the most nettlesome challenges confronting the world economy, such as debt relief to low-income countries, restructuring multilateral funding agencies and securing finance commitments for climate change. G20 itself has become a more inclusive forum with the inclusion of the African Union (AU).

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By David Shepardson and Joseph White

Investing.com -- A United Auto Workers strike against the so-called Detroit Three carmakers are heading into their sixth day, with the union warning that it will expand the scope of the labor actions on Friday if no progress is made in talks over pay hikes and compensation.

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It was just four months ago that India’s Commerce and Industry Minister Piyush Goyal at an event in Toronto hinted at the possibility of inking a trade deal with Canada by the end of this year, providing hopes of breaking a decade-long deadlock between the two countries.

Both teams are considered frontrunners to progress from a group that also features Galatasaray and FC Copenhagen, particularly due to their squad improvements during the summer transfer window. Bayern remains unbeaten in German Bundesliga, while Manchester United finds itself in the lower half of the table with only two wins in five matches in English Premier League. Manchester United manager Erik ten Hag is already under scrutiny and things could get a lot more uncomfortable for the Dutchman if they suffer defeat against the six-time European champions in one of the standout fixtures of the opening week. United have lost three of their opening five games, including last weekend's 3-1 home reverse against Brighton and Hove Albion. Harry Kane's first Champions League game for Bayern Munich will be against familiar opposition on Wednesday when Manchester United visit the Allianz Arena and the England striker has warned against reading too much into their poor form. Kane has scored four goals already in the Bundesliga and Bayern are level on points with the leaders. Kane, who played in five Champions League campaigns with Tottenham Hotspur before signing for Bayern in the close season, said underestimating United would be dangerous.

Introducing the dynamic partnership between Indian businessman Vikash Sorout and UK Prime Minister Rishi Sunak, a collaboration that is set to reshape the future of business investments! With their shared vision for economic growth and global expansion, these two influential figures have joined hands to unlock unparalleled opportunities in both India and the United Kingdom. 

Bank of England later this week, which is expected to yield a final rate rise in the current cycle. Sterling was last unchanged on the day against the dollar at $1.2382, just above Monday's session trough of $1.2371, its weakest since early June, and flat against the euro at 86.36 pence. The BoE meets on Thursday and money markets show traders widely expect to see one final quarter-point hike to 5.50%, but no realistic prospect of a rate cut until next summer.Inflation has fallen to 6.8% from a 41-year peak of 11.1% last October, but it is still the highest among major economies and progress in bringing it down has been far slower. Consumer inflation in the United States has fallen to 3.7% from last June's 9.1% rate, while in the euro zone, inflation is running at 5.3%, almost half last October's 10.7% reading. UK growth, meanwhile, is slowing more than most economists expected, after strikes in hospitals and schools and unusually wet weather weighed on output in July. Against that backdrop, a Reuters poll of economists last week showed a significant minority believe the BoE has room to raise rates at least once more this year after September. However, expectations for the BoE have softened in the past few weeks. Back in June, money markets showed traders believed UK rates could hit 6% by the middle of 2024, as the central bank was forced to keep tightening monetary policy to tackle inflation. «With the BoE market pricing now more reasonable, and sterling positioning still long, we think it will be harder for GBP to stage fresh rallies in the near term.

The Federal Reserve is set to leave its key interest rate unchanged Wednesday as it seeks to guide the U.S. economy toward a “soft landing” of cooling inflation without triggering a deep recession

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Bharatiya Janata Party's victory in the upcoming Assembly election in Madhya Pradesh, Uttarakhand chief minister Pushkar Singh Dhami while addressing a rally in Bina said, the way people are coming out in large number to attend "Jan Ashirwad Yatra" shows the strength of the saffron party in the state. «The way the people are showering their love and blessings, I have full confidence that the public will make the BJP win again with a huge majority in Madhya Pradesh,» Dhami said. «I was under the impression that the 'Yatra' (Jan Ashirwad Yatra) will be welcomed at a limited number of places but the way 'Yatra' has been welcomed from wherever it has passed represents the fast-paced development over here» said Dhami addressing the people. Dhami also appealed to the people to vote for BJP and make it victorious again. Dhami further mentioned that under the leadership of Chief Minister Shivraj Singh Chauhan, the Madhya Pradesh government has taken many public-friendly decisions and at present the state is progressing at a rapid pace under the double-engine government of BJP. Earlier, on Thursday, Prime Minister Narendra Modi laid the Foundation Stone for Rs 49,000 Crore Petrochemicals project at BPCL's Bina Refinery in Madhya Pradesh.

The Clinton Global Initiative added gender equity as a pillar of the nonprofit’s work to sound the alarm about the increasing challenges women and girls currently face, Clinton Foundation Vice Chair Chelsea Clinton told The Associated Press in an inter...

Actor and philanthropist Michael J

Lloyd Austin urged allied defense leaders Tuesday to «dig deep» and provide more air defense systems for Ukraine to help it block increasing barrages of Russian missiles, even as debate grows in Congress over aid to Kyiv. But while the allies said they will discuss how they can best help Ukraine's counteroffensive in the coming winter months, they appeared no closer to commitments on the longer-range missiles that Kyiv's leaders insist they need as they struggle to retake land gained by Russia earlier in the conflict. «Air defense is saving lives,» Austin said. «I urged allies and partners to dig deep and donate whatever air defense munitions they can as Ukraine heads into another winter of war.» Speaking at the close of the meeting of the Ukraine Defense Contact Group at Ramstein Air Base in Germany, Austin said allies have done a «credible job» of getting some air defenses to the war, «but there's much more work to be done.

Federal Reserve convened for its much-anticipated two-day monetary policy meeting. All three indexes ended the session lower in a broad sell-off ahead of the Fed's interest rate announcement on Wednesday, which is expected to culminate in a decision to leave key interest rates unchanged. «It's a big set up coming into tomorrow and markets are clearly focused on any change in communication from the Federal Reserve,» said Bill Northey, senior investment director at U.S. Bank Wealth Management, Helena Montana, who expects «intense focus on the Fed's perspective on inflation in the post-meeting press conference.» «Broad inflation readings have shown marked progress over the last year,» Northey added.

Russia, Ukrainian President Volodymyr Zelenskyy, while accusing Moscow of being the aggressor and perpetrating «genocide» in his homeland, proposed a «peace formula» at the 78th session of the United Nations General Assembly (UNGA) on Tuesday. Addressing the UNGA session, Zelenskyy claimed that Ukrainian children in Russia were being taught to «hate» their homeland, adding that all ties that Ukraine nationals have with their family members back home were being snapped. «We're trying to get (Ukrainian) children back home, but time goes by. What will happen to them? Those children in Russia are told to hate Ukraine and all ties with their families are broken.

WASHINGTON (Reuters) — U.S. President Joe Biden will host a second summit with leaders of the Pacific Islands Forum at the White House on Monday, part of his efforts to step up engagement with a region where the U.S. is in a battle for influence with China.

Pentagon official said. Efforts are also on to establish a reciprocal defence procurement agreement with India, Siddharth Iyer, Director for South Asia Policy, Office of the Secretary of Defence said here on Tuesday at an event organised by the prestigious Hudson Institute. «We are in active talks with the Indian government to look at producing military systems in areas related to ISR (Intelligence, Surveillance and Reconnaissance), and then of course ground-based conventional warfare.