Bank of Israel Delivers Its Biggest Rate Hike Since Fischer Era

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Most Read from Bloomberg Israel’s central bank raised interest rates by the most in over a decade, acting with urgency as the government’s collapse last week leads to a greater reliance on monetary tools to control above-target … Read more

New York’s biggest mall buys more time to pay back mortgage debt

Pyramid CEO Stephen Congel, son of the company’s late founder Robert Congel, commented: “It’s like turning an aircraft carrier around at sea: it takes some time and space. They realized time was important, and they gave it to us.” Read next: Mall of America catches up on late $1.4 billion mortgage payment According to, … Read more

World’s biggest bacteria discovered in Caribbean mangrove swamp

Gigantic bacteria 50 times larger than any bacterial species previously known to science have been discovered in a Caribbean mangrove swamp, a find that will stimulate new scientific ideas about the size and structure of living cells. The filaments, which look like fine vermicelli and have individual cells growing up to 1cm long, have been … Read more

Boris Johnson hails India-UK free trade agreement as ‘biggest of them all’

British Prime Minister Boris Johnson on Monday reiterated the Diwali timeline for a draft India-UK free trade agreement (FTA), declaring that the proposed trade deal with New Delhi would be the biggest yet in the post-Brexit context. In a statement to mark the start of the Commonwealth Heads of … Read more

Live news updates: Macau reports biggest Covid-19 outbreak in months

A train stands at North Acton station in London. The Underground faces another staff walkout © John Sibley/Reuters What started with misery at the pumps due to rising fuel prices, then air travel disruption due to staff shortages will this week spread to trouble on the trains — in the country that gave you this … Read more

Rocket Mortgage, Ares Management among week’s biggest financial decliners

allanswart/iStock via Getty Images In the week that the Federal Reserve made its biggest rate hike in almost 30 years, two mortgage companies and two large private equity firms are among the financial stocks that declined the most. Shares in Rocket Companies (RKT), which runs Rocket Mortgage, fell the most in the week ended June … Read more

FedEx top industrial gainer, Herc biggest decliner amid rising rates, recession fears

Sundry Photography/iStock Editorial via Getty Images Amid looming fears of a recession and interest rate hikes by certain central banks globally, FedEx led the gainers, while Herc bore the brunt among industrial stocks. For the week ending June 17, the SPDR S&P 500 Trust ETF (SPY) was in the red (-6.14%) for the second week … Read more

Gold prices fall, set for biggest weekly drop in a month

Breadcrumb Trail Links PMN Business Author of the article: Publishing date: Jun 16, 2022  •  12 minutes ago  •  1 minute read  •  Join the conversation Article content Gold fell on Friday, as a higher dollar and rising U.S. Treasury yields weighed on demand for greenback-priced bullion, and put prices on track for their biggest weekly … Read more