Page 3 - Yl En News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Two executives at Hong Kong-based Snow Lake Capital have quit amid bad bets including Chinese stocks, the Financial Times reported, forcing it to liquidate one fund and retrench. The turmoil spotlights the hedge fund’s disastrous position in MGM China .

The Federal Reserve threw its weight back behind the drive for a full U.S. jobs recovery on Wednesday, restating its belief that current high inflation is "expected to be transitory" and, despite risks to that view, arguing that price pressures will ease and pave the way for stronger employment and economic growth in the months to come.

The Bank of England will be the first major central bank to raise interest rates in the post-pandemic cycle but economists polled by Reuters think the first hike will not come until early next year, later than markets are pricing in.

Economies in the six-member Gulf Cooperation Council will grow faster next year than previously thought, according to a Reuters poll of economists who warned a decline in oil and gas prices was the biggest risk to their outlook.

The Boston Federal Reserve will not release documents that could show whether its former president vetted a series of personal investments last year with its ethics officer, a spokesman for the regional Fed bank said, a key point in an ongoing ethics controversy at the U.S. central bank.