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Shares of FedEx slumped 15% on Friday, on track for their worst day in two years, after dismal first-quarter results, in what analysts attributed to a combination of broader economic concerns and an unfavorable shift in the company's sales from higher-priced deliveries. FedEx, seen as a global trade barometer, is potentially losing nearly $11 billion in market value, and has also dragged down its rivals UPS and DHL shares, as the shipping industry deals with sluggish demand and bloated costs.

The United States Federal Reserve made a big splash with Wednesday’s 50-basis-point interest rate cut, prompting some Canadian economists to believe the Bank of Canada could match the move when policymakers meet at the end of October.

They say good news comes in threes. I don’t know if that’s true or if it’s from the same school of science as astrology, but it happened this week with mortgages.

Israel hit a Beirut suburb with an airstrike Friday, not long after Hezbollah pounded northern Israel with 140 rockets following a vow by the militant group's leader Hassan Nasrallah to retaliate against Israel for a mass bombing attack, the Israeli military and the militant group said. The Israeli military said it had carried out a «targeted strike» in Beirut. It offered no further immediate details, but explosions could be heard coming from the city's southern suburbs. Beirut-based Al-Mayadeen TV reported that a drone fired several missiles on the heavily-populated area known as Dahiyeh. A Hezbollah official, speaking on condition of anonymity because he wasn't authorized to speak to the media, confirmed to The Associated Press that an airstrike struck the area, without giving further details.

In a speech at the Central Bank Research Association in Lithuania today (20 September), the MPC member shared her case for the BoE to adopt an «activist policy strategy». This would entail maintaining a restrictive approach to monetary policy until «tail risks» to the inflation process have subsided, allowing the central bank to then «cut more aggressively» once it is certain the inflation target of 2% has been achieved «sustainably in the medium term». Mann explained the UK has a greater need for such an approach than the US and eurozone because, being a «small, open economy», it is ...

Hezbollah launched a significant barrage of 140 rockets into northern Israel on Friday, following a declaration from the group's leader, Hassan Nasrallah, who vowed to retaliate for recent Israeli bombing attacks. The Israeli Defense Forces confirmed that the rockets were fired in three waves during the afternoon, targeting various locations along the conflict-ridden border with Lebanon.

Subscribe to enjoy similar stories. Hezbollah was scrambling Friday to recover from a week of blows delivered by Israel, including an unusually heavy series of airstrikes across southern Lebanon and attacks that caused electronic devices carried by thousands of the militant group’s members to explode virtually simultaneously across the country. The group is trying to determine whether any of its communications networks are safe as it searches for security gaps and hunts down the possibility of moles in the organization, people familiar with the matter said.

Punjab and the Centre in the Supreme Court, which raises a broader issue: whether state legislation that raises fees for foodgrain procurement under central PDS schemes is binding on the Union government. Punjab raised the levy to 6% of the minimum support price (MSP) for all foodgrains procured from the state, while the Centre agreed to reimburse only 2% of this levy, a standard rate applied across all states, to cover procurement costs. This state levy, reimbursed by Centre to states, is over and above the cost of foodgrains it pays to states. These foodgrains are distributed free or at subsidised prices to weaker and vulnerable sections of society under the Pradhan Mantri Garib Kalyan Anna Yojana, Antyodaya and Targeted Public Distribution System.

Asian stocks have surged, with Japan’s Nikkei 225 index leading gains after Wall Street romped to records following the Federal Reserve’s big cut to interest rates

Subscribe to enjoy similar stories. TOKYO—The Bank of Japan left its short-term policy rate unchanged Friday as it examines how the economy and markets are digesting its most recent interest-rate increase. The Japanese central bank maintained its target for the overnight call rate at 0.25% after raising it to that level in July.

Bank of Japan kept interest rates steady on Friday and maintained its view the economy remained on track for a moderate recovery. In a widely expected move, the central bank left unchanged its overnight call rate target at 0.25% by a unanimous vote.

China unexpectedly left benchmark lending rates unchanged at the monthly fixing on Friday, confounding market expectations that were primed for a move after the Federal Reserve delivered an outsized interest rate cut earlier this week. However, market watchers widely believe further stimulus will be rolled out to prop up an ailing economy, as the Fed's easing offers Beijing leeway to loosen monetary policy without unduly hurting the yuan. The one-year loan prime rate (LPR) was kept at 3.35%, while the five-year LPR was unchanged at 3.85%.

«We feel that the opportunities are large. It is a beginning and we should look at growing from where we start. It is a modest beginning, but hopefully it will be an aggressive growth as we move along,» says Sanjiv Goenka, Chairman, RPSG Group. Well, the latest announcement coming in wherein Firstsource has deepened its presence when it comes to Australia. Could you talk to me about the strategic intent behind this? Sanjiv Goenka: Well, we have already got a very major presence in US and UK and this is the third big market that we are targeting. It has a presence of large corporates and so there is a business opportunity. The whole administration of the Victoria State and Melbourne City has been extremely supportive and enthusiastic. And we feel that the opportunities are large. It is a beginning and we should look at growing from where we start. It is a modest beginning, but hopefully it will be an aggressive growth as we move along.

Subscribe to enjoy similar stories. Basic communication devices like pagers and walkie-talkies, used by Hezbollah to avoid being tracked by Israel, were manipulated to detonate, killing many and injuring thousands. Are basic devices the only ones that can be targeted? What about mobiles? Mint explains: Hezbollah had advised its members to stop using mobile phones to prevent Israel from tracking them.

Subscribe to enjoy similar stories. Buy or sell stocks today: Indian stock market indices Sensex and Nifty 50 closed relatively subdued on Thursday, September 19, compared to global and Asian indices, in response to the United States Federal Reserve's (FED) rate cut on Wednesday. The Nifty 50 index closed 0.15 per cent higher at 25,415.80 points, compared to 25,377.55 points at its previous market close.

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

The number of Americans applying for unemployment benefits fell to their lowest level in four months last week

The U.S. Federal Reserve’s 50-basis-point interest rate cut on Wednesday is set to have ripple effects north of the border, with experts pointing to implications for both the Bank of Canada and Canadian mortgage holders.

The Bank of Canada is carefully weighing both upside and downside risks to the economy as it attempts to calibrate the pace of interest rate cuts, according to a summary of its deliberations released on Wednesday.

WASHINGTON — The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for American consumers.

Subscribe to enjoy similar stories. A wave of deadly explosions of pagers and other electronic devices carried by militants in Lebanon has sharply heightened Pentagon concern about a potential ground war erupting in southern Lebanon between Israel and Hezbollah. Even before the hundreds of widely dispersed detonations Tuesday and Wednesday, U.S.