Bank of England Makes Slow Progress on Management Diversity Aims

The Bank of England is making slow progress in its attempts to improve ethnic and gender diversity among its senior management, risking missing its own goal for female representation at the end of this year. The central bank has managed to increase the proportion of Black, Asian and Minority Ethnic staff occupying senior positions to 7% this year, according to […]

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Fed’s Jobs, Inflation Mandates Blur ‘70s Law Aimed at Inequality

Federal Reserve Chair Jerome Powell is testifying before Congress this week in hearings mandated by a 1978 law that was meant to prevent mass joblessness and dissolve racial inequality. Neither has happened. The Humphrey-Hawkins Act is instead mostly known for giving the U.S. central bank its “dual mandate” of maintaining full employment and price stability. But the legislation, championed by […]

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RBA Saw Australian House Prices Falling 7% Over the Next Year

Australia’s central bank expected house prices to fall 7% in the year ahead under its baseline scenario for the Covid-19 pandemic, documents from May released under a Freedom of Information request showed. In the upside scenario for the economy, prices were forecast to slide 2%. Yet prices could plunge 15% under the downside scenario, according to a research paper produced […]

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Trump administration wants changes to global tariffs

Fox Business Flash top headlines for June 16 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Global trade and tariffs will be a focus on Capitol Hill on Wednesday. Continue Reading Below U.S. trade representative Robert Lighthizer will present the Trump administration's plans to have the World Trade Organization's policies updated. GET FOX BUSINESS ON […]

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Reserve Bank of India May Look at Japan Playbook to Tame Yields

India’s central bank may adopt its own version of yield-curve control as it digs deeper into its toolbox to cushion the economy during the coronavirus pandemic, according to a unit of the country’s second-largest private lender. The Reserve Bank of India may buy debt at irregular intervals to tame spikes in yields as it seeks to accelerate transmission of cuts […]

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Walmart tests self-checkout only location with no cashiers

Walmart CEO wants company to hire more black associates Walmart CEO Doug McMillon released a statement saying the company must go further in hiring more black associates across all levels and positions. A Walmart in Fayetteville, Arkansas is reimagining the shopping experience during the coronavirus pandemic by using self-checkout counters only, in lieu of cashiers. Continue Reading Below A spokesperson for the company told […]

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Italy Urged by EU Leaders to Use Recovery Plan to Speed Reforms

In this article European Central Bank President Christine Lagarde and European Commission President Ursula von der Leyen are among leaders urging Italy to take advantage of the region’s proposed 750 billion-euro ($852 billion) recovery plan to speed up structural reforms. The so-called Next Generation EU plan is a “unique opportunity for Italy,” Von der Leyen said in a video message […]

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