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WASHINGTON, DC – JULY 9: Chair of the Federal Reserve of the United States Jerome Powell speaks … More during a Senate Banking, Housing, and Urban Affairs Committee hearing on the Semiannual Monetary Policy Report to Congress at the U.S. Capitol on July 9, 2024 in Washington, DC. Powell in earlier remarks was quoted, “we want to be more confident that inflation is moving sustainably down toward 2% before we start the process of reducing or loosening policy.” (Photo by Bonnie Cash/Getty Images)Getty Images June’s Consumer Price Index report will be released on July 15. Nowcasts project relatively low month-on-month…

Getty Li Weizhu, the chairman of Zhou Liu Fu Jewellery, joined the billionaire ranks after shares of his Shenzhen-based gold jewelry retailer soared 67% over their first two trading days on the Hong Kong stock exchange on Friday. Li, 47, is Zhou Liu Fu’s largest shareholder with a 57% stake through wholly-owned investment vehicles. Based on his stake, Forbes estimates his net worth to be $1.2 billion. Li’s older brother Weipeng, who is Zhou Liu Fu’s cofounder and vice chairman, has a fortune of $522 million based on his 24% ownership, Forbes estimates. Li entered the three-comma club a day…

IFBH, the Thai company behind the IF-branded bottled coconut water, started trading in Hong Kong on June 30, 2025.Shanshan Kao/Forbes Asia IFBH, the Thai company behind China’s largest coconut water brand IF, saw its shares jump 42% in its Hong Kong stock market debut Monday, boasting a market cap of $1.3 billion. IFBH ended its first day trading at HK$39.5, up from the HK$27.8 per share set for the initial public offering. The company, a subsidiary of Bangkok-based General Beverage, raised HK$1.16 billion ($145 million) from the sale of 41.7 million shares at the top end of a marketed range…

Pakistan remained unbeaten in the Asian Youth Netball Championship after defeating the Maldives 49-39 on Tuesday to cruise into the semi-final. Today’s play marked the Green Shirts’ fifth and final group match at the Jeonju Hwasan Gymnasium in South Korea, and puts them at the top of Pool B with 10 points. The first quarter saw tough competition with Pakistan scoring 14-12 against the Maldives, who dominated in the second quarter to end at 24-26 at halftime. Pakistan marginally took the lead in the third quarter at 35-32 before ending the match at 49-39. According to the new format introduced…

LONDON: Holder Carlos Alcaraz blew hot and cold on a blazing Monday at Wimbledon but the Spaniard survived a massive scare to beat dangerous Italian Fabio Fognini 7-5, 6-7(5/7), 7-5, 2-6 6-1 and reach the second round. Alcaraz, bidding to become only the fifth man since tennis turned professional in 1968 to win three consecutive Wimbledon titles, arrived at the All England Club on an 18-match winning streak but the second seed looked out of sorts at times. He recovered his level when it mattered most and prevailed to avoid becoming only the third defending champion to lose in the…

MIAMI GARDENS: Harry Kane scored twice as Bayern Munich overcame determined resistance from Flamengo to book their place in the Club World Cup quarter-finals with an entertaining 4-2 victory on Sunday. Vincent Kompany’s side will now play European champions Paris St-Germain in Atlanta on Saturday for a place in the last four. Flamengo, backed by a huge and passionate following at Hard Rock Stadium, bow out of the tournament despite a performance of real determination from Filipe Luis’s team. It took just six minutes for Bayern to grab the lead when Joshua Kimmich whipped in a corner and Flamengo defender…

LAHORE: The inaugural SNGPL All Pakistan Ranking Badminton tournament culminated at the POF Wah Complex on Sunday night, with athletes from Wapda and Army securing top honours across all categories. Irfan Saeed of Wapda delivered a commanding performance to claim the men’s crown, overpowering department-mate Mohammad Ali Larosh 21-9, 21-12. The women’s title was secured by Army’s Ammarah Ishtiaq, who demonstrated her prowess with a solid 21-18, 21-12 victory against fellow Army player Alja Tariq. The doubles events featured successful cross-organisational partnerships. In the men’s doubles final, the pairing of singles runner-up Ali and Raja Zulqarnain Haider (Army) emerged victorious…

Senate Majority Leader John Thune (R-SD) speaks during a news conference following the weekly Senate Republican policy luncheon at the U.S. Capitol on June 17, 2025 in Washington.Anna Moneymaker | Getty Images News | Getty ImagesA massive legislative package Senate Republicans are trying to pass this week would hurt the lowest-earning Americans financially while boosting the incomes of wealthier households, according to a Yale Budget Lab analysis issued Monday.The “One Big Beautiful Bill Act” would reduce income by 2.9% (about $700) for the bottom 20% of households, according to the Yale analysis. These households have an income of less than…

Washington CNN  —  President Donald Trump on Monday continued his extended attack against Federal Reserve Chair Jerome Powell and the central bank’s Board of Governors, calling for ultra-low rates in an intensifying campaign demanding interest rate cuts. Trump on his social media platform wrote that the Fed’s board “should be ashamed of themselves for allowing this to happen to the United States.” However, officials who sit on the Fed’s board aren’t the only ones who vote on policy moves; that also includes five other regional Fed bank presidents. It’s unclear if Trump meant to attack just the board or all…

Spanish authorities on Monday detained former top socialist party official Santos Cerdan in a corruption case that is a new blow for left-wing Prime Minister Pedro Sanchez, judicial sources said. Former transport minister José Luis Ábalos has also been implicated in the investigation into kickbacks for public contracts, which has created the biggest political crisis Sanchez has faced since taking office in 2018. The sources said a Supreme Court judge ordered the detention of Cerdan, who has quit as the Spanish Socialist Workers’ Party organisation secretary — the ruling party’s number three post — as there was a “risk” he…