Cloned giant pig

- A + A BENGALURU (May 19): The Philippine peso firmed on Thursday after its central bank raised rates for the first time in more than three years, while Asian shares tumbled on concerns around surging inflation, its impact on retail demand, and the threat of a recession. Stocks in Manila fell 1%, while the Philippine peso edged up 0.2%. The Philippine central bank raised its benchmark interest rate by 25 basis points, as expected, to address rising inflationary pressures. "With the recovery in hand and price pressures surging, Bangko Sentral ng Pilipinas (BSP) finally decided to join the rate-hike club... The bigger development was the quick walk-back of pandemic support with BSP closing the provisional advance and tweaking the bond purchase window," said Nicholas Antonio Mapa, senior economist at ING. Equities in the region also tracked weakness on Wall Street overnight as retail giant Target Corp warning of a bigger margin hit due to rising fuel and freight … [Read more...] about Philippine peso firms after rate hike, Asian stocks fall on growth fears

- A + A LONDON (May 19): Heavy falls in European and Asian stock markets followed Wall Street's worst day since mid-2020 on Thursday, as stark warnings from some of the world's biggest retailers underscored just how hard inflation is biting. Bond markets rallied in the dive for safety and on bets that interest rate rises may get recalibrated, but it was the gloom striking down equities after Wednesday's US$25 billion wipeout in US retailer Target's shares that dominated the action. Europe opened down 1.8%, led by a 2.2% fall in its retail sector, while scarlet red US futures and some sharp overnight drops in China tech firms put 1½-year lows back in focus for MSCI all-country world. "Target and Walmart coming out with disappointing numbers has really, really spooked people," said Close Brothers Asset Management's Chief Investment Officer Robert Alster. "We are going to see a raft of downgrades to US GDP (forecasts) now... it really looks like we are running into … [Read more...] about Shares slump as retailer warnings fuel stagflation fears

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,592.34 points on Thursday, down 33.64 points, or 1.28 percent, from the previous trading day. [YONHAP] Shares dropped by more than 1 percent to snap a two-day winning streak, as investor appetite for risky assets fell amid fears about high-flying inflation that sparked a massive sell-off on Wall Street. The won fell against the dollar. The Kospi retreated 33.64 points, or 1.28 percent, to close at 2,592.34 points. Trading volume was moderate at about 663 million shares worth some 9.7 trillion won ($7.6 billion), with losers outnumbering gainers 767 to 124. Institutions sold a net 483.4 billion won, and foreigners offloaded 97.9 billion won, while retail investors bought 520.2 billion won. The key stock index faltered below the 2,600-point mark at the opening bell, tracking an overnight plunge on Wall Street. The S&P 500 sank 4.04 percent Thursday, the sharpest drop since June 2020, as … [Read more...] about Stocks drop more than 1 percent after Wall Street plunge

Two explosions set off in the Ugandan capital, Kampala, on Tuesday have killed at least three people and injured dozens of others, the Associated Press reported. “The bomb threats are still active, especially from suicide attackers,” police spokesman Fred Enanga said, the AP reported . He blamed the bombings on the Allied Democratic Forces, extremists affiliated with the Islamic State (IS). Thus far, 33 citizens have been treated at the city’s main hospitals, with five critically injured, Enanga said, the AP reported. Three suicide bombers also died in the blasts, according to police . SITE, a group that tracks the activities of extremist organizations, reported the IS affiliate had taken credit for the explosions. (RELATED: Ohio Man Pleads Guilty To Trying To Help ISIS) “The bomb threats are still active, especially from suicide attackers,” Enanga said. A potential third target was allegedly stopped by the police after a suspected suicide bomber was caught … [Read more...] about Twin Explosions Kill Civilians In Ugandan Capital, Police Blame Islamic State Affiliate

Share to Twitter Share to Linkedin (Photo by Jessica Rinaldi/The Boston Globe via Getty Images) Billionaire casino magnate Steve Wynn resigned from his eponymous company, Wynn Resorts, on Tuesday evening amid a swirl of sexual misconduct allegations. The decision to distance himself from the company comes after dozens of people who have worked for him in the last several decades have come forward with claims of inappropriate behavior. "In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity," said Wynn, 76, in a statement. "As I have reflected upon the environment this has created — one in which a rush to judgment takes precedence over everything else, including the facts — I have reached the conclusion I cannot continue to be effective in my current roles." Wynn, who is behind many of Las Vegas' most iconic properties such as The Mirage, Treasure Island and Bellagio, has denied the allegations and … [Read more...] about Billionaire Steve Wynn Resigns As CEO Amid Sexual Misconduct Allegations