Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
PatientsLikeMe was bought by UnitedHealth following a review by Trump's Treasury Department, which scrutinized the start-up because it's backed by Chinese cash.Technologyread more
Some traders think the energy rally is about to wane, despite the sector being one of June's big winners.ETF Edgeread more
Stocks with this one feature are poised to crush the market after a rate cut, according to Goldman Sachs.Marketsread more
An Air Canada passenger traveling to Toronto from a weekend in Quebec City found herself stranded alone on the tarmac and in the dark, in what she described as a "nightmare."Airlinesread more
When Victoria's Secret exited the swimsuit business in 2016, it opened the floodgates for start-ups to conquer that market.Retailread more
U.K. online bank Monzo raised $144 million in a fresh round of funding led by the U.S. start-up accelerator Y Combinator.Technologyread more
Indonesia's central bank has made another attempt to curb further sell-off in the rupiah, but analysts said the currency would remain under pressure in the coming months against the backdrop of rising U.S. Treasury yields and an escalation in global trade tensions.
In a widely expected move, Bank Indonesia on Thursday raised its benchmark policy rate by 25 basis points to 5.75 percent. The latest move took the country's total interest rate hikes this year to 1.50 percentage points. The central bank in Southeast Asia's largest economy has been one of the most hawkish in the region.
The rupiah strengthened slightly against the greenback on Friday, with one U.S. dollar buying around 14,890 rupiah compared to 14,912 rupiah the previous day. So far this year, the currency has depreciated by more than 8 percent against the U.S. dollar — one of the worst hit currencies as investors flee emerging markets deemed vulnerable in the current climate.
"Our move, as we conveyed yesterday, basically is to strengthen our external resilience and to strengthen the stability of our economy, especially the rupiah," Perry Warjiyo, governor of Bank Indonesia, told CNBC's "Squawk Box" on Friday.
Warjiyo added that defending the rupiah is critical to contain the country's current account deficit — a measure of the flow of goods, services and investments in and out of the country. A further weakening in the rupiah makes it more expensive for Indonesia to finance that deficit — a reason widely cited by many investors for taking their money out of the country.
In addition to raising interest rates, Bank Indonesia has been tapping its foreign exchange reserves to buy up the rupiah. Those foreign cash reserves have slipped to $117.9 billion in August, the lowest level since January 2017.
But Warjiyo said the reserves remain "ample" to defend the currency again, if needed.
Some analysts said the downward pressure on the rupiah is not over and the central bank will have to raise interest rates again the coming months.
"We think a combination of rising US Treasury yields and an intensification of the trade war between the US and China will keep the rupiah under pressure. We are expecting two more rate hikes before the end of the year," Gareth Leather, senior Asia economist at Capital Economics, wrote in a Thursday note.
Higher Treasury yields make the U.S. a more attractive investment destination compared to Indonesia, and the Southeast Asian country's exports could be hurt if global trade slows down as a result of tariff tensions between the U.S. and China.