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Lisa Cook, governor of the US Federal Reserve. Photographer: Al Drago/Bloomberg© 2024 Bloomberg Finance LP President Donald Trump announced late Monday that he was firing Federal Reserve Governor Lisa Cook, a Senate-confirmed appointee. This unprecedented action, citing unproven allegations of mortgage fraud, represents a direct undermining of the Federal Reserve’s long-cherished independence—a principle essential for managing the U.S. economy without political interference. Now, investors are left grappling with the implications of this escalation, which could erode trust in America’s financial bedrock and exacerbate economic stagnation amid soaring deficits and national debt. This firing isn’t just about one governor; it’s a…

Skipper Salman Agha hit an unbeaten half-century and fast bowler Haris Rauf grabbed four wickets as Pakistan upstaged Afghanistan by 39 runs in the tri-series opener in Sharjah on Friday. Agha hit a 36-ball 53 not out with three sixes and as many boundaries, which lifted Pakistan to 182-7 in their 20 overs. Pacers Rauf took 4-31 and Shaheen Afridi 2-21, while spinners Mohammad Nawaz (2-23) and Sufiyan Muqeem (2-25) dismissed Afghanistan for 143 in 19.5 overs before a noisy capacity 16,000 crowd at the Sharjah stadium. Afghanistan matched Pakistan with opener Rahmanullah Gurbaz, 27-ball 38 with a six and…

Michael Kirban, Co-founder and executive chairman of Vita Coco.vita coco When it comes to selling coconut water to the health obsessed, New York’s Vita Coco has served up a master class, schooling even giant rivals like Coke and Pepsi. Its next test will be withstanding Trump’s tariff shocks. What do you do when 96% of your revenue comes from coconut water and 100% of your supply comes from tropical countries targeted by Donald Trump with high tariffs? This is exactly the situation confronting one of the nation’s hottest small cap companies today, $516 million (revs) Vita-Coco of New York City,…

Higher inflation and accelerating unemployment are primary risks for investors as 2025 heads to a close.getty The S&P 500 is up more than 9% this year, but there are many reasons to believe that could change. The President Trump is attempting to influence the Fed, the job market has slowed, and business and consumers are adjusting to a new tariff reality with unknown economic consequences. Amid the uncertainty, Ayako Yoshioka, portfolio consulting director at Wealth Enhancement, cited two familiar concerns—higher inflation and accelerating unemployment—as primary risks for investors as 2025 heads to a close. She also shared key investing moves…

In 2000, internet darling Cisco was the world’s most valuable company. Today it’s worth half as much. AI juggernauts like Nvidia and Palantir are driving the tech-bloated S&P 500 today. Buyer beware. Atthe end of the 1990s, there was one narrative on every stock broker’s lips. The so-called world wide web would change everything about our way of life: the way we buy and sell goods, interact with friends, conduct research and advance our careers. It would be impossible to imagine life without it. That narrative has come true on a scale beyond what many imagined, but it might not…

The tickets for the Men’s Asia Cup 2025 — including the much-awaited Pakistan-India clash — are now available for sale, the Emirates Cricket Board (ECB) said on Friday. According to the board, the tickets are being sold starting from 40 dirhams (PKR 3,069.51) for the matches in Abu Dhabi and 50 (PKR 3,836.89) dirhams for the ones in Dubai. “Tickets for the most sought-after India v Pakistan match will initially be available in a seven-match tickets package starting at 1,400 [dirhams] (PKR 10,743.28),” the ECB announced. It said fans could buy separate (standalone) tickets for each of the remaining matches…

World Athletics President Sebastian Coe is confident that all female athletes at this year’s world championships in Tokyo will have undergone gene testing, after snags left some of them scrambling to meet the September 1 deadline. Athletes who arrive at the September 13-21 global event without having being tested can complete the process in the Japanese capital. “Although the vast majority of athletes will have been tested before they get to Tokyo … if there are outstanding athletes that still haven’t been tested, we have the ability to do that in Tokyo — but that is by no means an…

Retirement funding looks very different depending on where you live.While the United States leans heavily on voluntary 401(k)-style savings plans, other nations rely on mandatory contributions or more traditional pensions to ensure broad coverage and steady income.Mercer CFA Institute Global Pension Index takes these structural differences into consideration when ranking some of the world’s biggest retirement systems.”We do it because we want to give a picture of the retirement landscape,” said Christine Mahoney, global pensions leader at Mercer, a consulting firm. “We try to look at what the public systems are, what the private systems are, and look at how…

SYDNEY: Olympic champion Sifan Hassan has confirmed her decision to skip the athletics world championships in Tokyo next month after deciding to take part in this weekend’s Sydney marathon. Hassan, who won the Olympic marathon in Paris last year, has represented the Netherlands at every world championships since 2015, winning six medals including her 1,500-10,000 metres golden double in Doha in 2019. “It’s in two or three weeks and I don’t think I’m going to recover, I can barely walk the first couple of days after a marathon,” the 32-year-old told a news conference on Thursday. “It was so hard…

Mexican President Claudia Sheinbaum met with FIFA chief Gianni Infantino on Thursday to discuss preparations for the 2026 football World Cup, which Mexico will co-host with the United States and Canada. “I appreciate the visit of Gianni Infantino, FIFA President, to discuss the progress of the World Cup,” the president said in a post on social media, adding photos with the FIFA President and the tournament trophy. Sheinbaum said the opening ceremony of the tournament will take place at the Azteca Stadium in Mexico City on June 11, 2026. “Remember that in Mexico City, Guadalajara, and Monterrey, 13 matches of…