WASHINGTON—The World Bank slashed its 2023 growth forecasts on Tuesday to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies, Russia’s war in Ukraine continues, and the world’s major economic engines sputter. The development lender said it expected global GDP growth of 1.7 percent in […]
SALTA, Argentina—Argentina’s cash has lost so much value in recent years that local artist Sergio Guillermo Diaz finds painting on even the most valuable banknotes has become affordable. With annual inflation that likely neared 100 percent last year, the largest denomination of Argentine currency, the 1,000-peso bill, is worth around $5.60 officially or just $3 […]
Oklahoma’s Old Glory Bank, as part of their ethos not to cancel law-abiding customers based on their beliefs, has announced a new proprietary closed-loop payment system called “Old Glory Pay.” The bank, which is headquartered in Elmore City, Oklahoma, said in a press statement that it will be FDIC-insured, as well as the “first chartered […]
A bank robbery in London prevents—again—the marriage of Bulldog Drummond and his girlfriend. But this time, when the delinquents are caught, it will be celebrated at last. Credit: Public Domain Movies – Feature Films: Cinema collection: http://epochcinema.com Epoch Original content: http://epochoriginal.com Feature Films: https://api.theepochtimes.com/featured-films * Click the “Save” button below the video to access it […]
After robbing a Mexican bank, Dad Longworth takes the loot and leaves his partner Rio to be captured, but Rio escapes and searches for Dad in California. Credit: Public Domain Movies – Feature Films: Cinema collection: http://epochcinema.com Epoch Original content: http://epochoriginal.com Feature Films: https://api.theepochtimes.com/featured-films * Click the “Save” button below the video to access it […]
Bank of America on Friday warned that the Federal Reserve’s policies aimed at tackling inflation could see the U.S. economy start losing tens of thousands of jobs a month beginning early next year. While American employers slowed down hiring in September, the United States still added 263,000 jobs, down from an upwardly revised 537,000 in August, according to data from […]
STOCKHOLM—Former U.S. Federal Reserve Chair Ben Bernanke won the Nobel Prize in economic sciences along with two other U.S.-based economists for their research into bank failures. The Nobel panel at the Royal Swedish Academy of Sciences recognized Bernanke, Douglas W. Diamond, and Philip Dybvig on Monday for research that shows “why avoiding bank collapses is […]
The Bank of England, Britain’s central bank, has sought to restore financial stability with an emergency bond-buying programme, after the government’s new fiscal policy caused the pound to dive and borrowing costs to soar. The British pound on Monday plunged by more than 4 percent to just $1.03, an all-time low. It recovered to about […]
LONDON—The Bank of England raised its key interest rate to 2.25 percent from 1.75 percent on Thursday and said it would continue to “respond forcefully, as necessary” to inflation, despite the economy entering recession. The BoE estimates Britain’s economy will shrink 0.1 percent in the third quarter, partly due to the extra public holiday for […]
TBILISI, Georgia—Police in the country of Georgia said 12 people who were held hostage in a bank by a gunman for hours Tuesday have been freed and hostage-taker has been arrested. Georgian media reported that the gunman at the bank in the city of Kutaisi had demanded $2 million, a helicopter to leave the country […]
