KPMG CEO explains record-tying KPMG Women's purse
PGA of America CEO Derek Sprague and KPMG CEO Paul Knopp join Golf Central to explain why it 'was the right time' to increase the KPMG Women's PGA Championship purse to a record-tying $12 million.
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Yahoo
3 hours ago
- Yahoo
US Fed set to hold rates steady as it guards against inflation
The US central bank is expected to hold interest rates steady Wednesday after its key policy meeting, as officials gauge the impact of tariffs on inflation -- and despite President Donald Trump's calls for rate cuts. The Federal Reserve has kept the benchmark lending rate unchanged this year at a range between 4.25 percent and 4.50 percent, and analysts expect policymakers will remain on the sidelines until price increases cool sustainably. While Trump has imposed a 10 percent tariff on most US trading partners and steeper levies on imports of steel, aluminum and autos in recent months, these have not triggered a price surge so far. This is partly because Trump has backed off or postponed some of his most punishing salvos, while businesses in turn have relied on existing inventory to avoid hiking consumer costs immediately. In May, the consumer price index edged up to 2.4 percent on-year from 2.3 percent in April, underscoring the limited effect of levies for now. But economists expect it will take several months for tariffs to flow into consumer prices, and the Fed is proceeding cautiously with interest rate adjustments. "The Fed would no doubt be cutting again by now if not for the uncertainty regarding tariffs and a recent escalation of tensions in the Middle East," said KPMG senior economist Benjamin Shoesmith. The prospect of higher inflation will probably keep the central bank in "wait-and-see mode for much of this year," he added in a note. Officials will want to see "if those factors trigger more than a transitory increase in prices," he said. Beyond inflation data, policymakers are also trying to keep expectations "anchored," a state in which consumers expect price increases to remain low and steady. If there are widespread expectations of price hikes, inflation could rise as businesses increase customer costs and workers seek higher wages. On Wednesday, the Fed is also due to release its latest economic projections on growth, unemployment and inflation. Analysts will monitor if the Fed still expects to make two more rate cuts this year as well. - 'Saber-rattling' - For his part, Trump has repeatedly urged the independent central bank to slash rates, calling Fed Chair Jerome Powell "too late" in doing so and "a fool" for holding off further cuts at the bank's May meeting. Trump has pointed to benign US inflation in arguing for interest rate cuts. More recently, he also cast such a move as a way for the country to "pay much less interest on debt coming due," overlooking the fact that lower interest rates usually raise consumer prices. Powell however has maintained that the Fed's rate-setting committee would make its decisions based solely on objective and non-political analysis, the Fed previously said. The Fed chair has also defended US central bank independence over rates in his recent meeting with Trump. Despite Trump's pressure, Allianz Trade North America senior economist Dan North expects Powell will not be too shaken by "saber-rattling." "Consumers are still spending, labor markets still creating jobs, although it is in fact slowing a little bit," North told AFP. "Certainly, the health of the economy doesn't beg for the Fed to cut rates," he added. "So we think they're on hold till the end of the year." myl-bys/dw Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
6 hours ago
- USA Today
Lydia Ko can make history, join elite club with win at KPMG Women's PGA
Lydia Ko can make history, join elite club with win at KPMG Women's PGA FRISCO, Texas – Lydia Ko won earlier this year in Singapore, and she owns a home in Orlando, Florida. Texas heat won't bring her down this week, and she welcomes the wind. Though locals say the forecasted temperatures in the mid-90s is actually a break for these parts. While the LPGA Hall of Famer hasn't had much success playing golf in Texas, she declared the PGA's Fields Ranch East Course to be her favorite course so far in the Lone Star State. 'I feel like the KPMG Women's PGA Championship is one that I feel like I could/should win with the type of golf courses we play,' said Ko. 'I saw Meg Mallon and Beth Daniel yesterday and said, hopefully, I can join you at the Champions Dinner someday and have a dinner menu curated by me.' Ko, of course, needs the KPMG Women's PGA title to achieve the career grand slam. She has three different LPGA major titles (Amundi Evian, ANA Inspiration and AIG Women's British Open). The tour recognizes holding four of the five as having met the criteria. She'd be the eighth player in tour history to accomplish the feat. 'I was talking to my caddie about this, and I was like, I shouldn't have won the British Open,' said Ko. 'That's where I probably had not the best record going into St. Andrews last year, especially coming off the week at the Olympics a couple weeks prior. 'So if I made the impossible possible, I feel like as long as I'm playing good golf and I'm smart and I'm committed out there, hopefully I can give myself opportunities. Whether this is the one or maybe future sites, I'm not really sure, but I do really like it out here.' Ko, 28, has three top 10s at the Women's PGA, including a playoff loss to Brooke Henderson in 2016 at Sahalee. She's one of 15 winners on tour this year in a season that has seen no repeats. Early in her career, Ko made a habit of breaking records. This week, with the KPMG Women's PGA purse moving up to $12 million, matching the U.S. Women's Open prize fund, the winner's check would give Ko a new piece of history: career money record holder. The winner of the 2025 KPMG Women's PGA will earn $1.8 million, which would bring Ko's career earnings to $22,631,239. That would clip Annika Sorenstam by $47,546. 'In ways, it's unfair because she's won 70-something times and I've only won – I'm proud of my 23, and I'm hoping to have a few more by the time I'm done,' said Ko. 'We are just playing in a very different era.' The ever-thoughtful Ko went on to say that's why she feels it's her duty as a player to help grow the organization for future generations, as Sorenstam did for her. To that end, Ko spent the day with incoming LPGA commissioner Craig Kessler in the Tuesday pro-am, meeting the PGA of America COO for the first time. Ko, a former LPGA board member, was impressed by Kessler's passion for the new job and his golf game, especially on the back nine. 'We don't want him to be too good, right?' she said with a laugh. 'He can't be playing too much golf. No, he's great. He just seems like he has a lot of good energy, and I think that's really important in any person.'
Yahoo
6 hours ago
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WESTSHORE TERMINALS REPORT OF AGM VOTING RESULTS
VANCOUVER, BC, June 17, 2025 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE) (the "Corporation") announced today that the following nominees were elected as directors of the Corporation until the next Annual General Meeting: Name of Nominee Votes For % Votes Withheld % Dallas H. Ross 40,233,103 92.65 3,193,253 7.35 Clark H. Hollands 38,813,952 89.38 4,612,404 10.62 Nick Desmarais 42,604,517 98.11 821,839 1.89 Steve Akazawa 43,365,091 99.86 61,265 0.14 Dianne Watts 43,351,706 99.83 74,650 0.17 Glenn Dudar 43,316,345 99.75 110,011 0.25 Dirk Lever 43,411,941 99.97 14,415 0.03 David Schellenberg 43,389,333 99.91 37,023 0.09 The following were the results to appoint KPMG LLP as Auditors of the Corporation: Auditors Votes For % Votes Withheld % KPMG LLP 42,924,217 98.43 684,370 1.57 SOURCE Westshore Terminals Investment Corporation View original content:
