Europe Should Deepen Ties With Non-U.S. Trade Partners, ECB's Lagarde Says
"While the U.S. is—and will remain—an important trading partner, Europe should also aim to deepen its trade ties with other jurisdictions, leveraging the strengths of its export-oriented economy," Lagarde told a panel at the World Economic Forum in Geneva on Wednesday.
Lagarde has previously spoken about how the European Union should bolster its institutions and economic resilience, after the U.S. began to raise tariffs on its trade partners.
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Associated Press
a minute ago
- Associated Press
German foreign minister backs Israel and Palestine two-state solution during Indonesia visit
JAKARTA, Indonesia (AP) — The foreign minister of Germany called for an immediate ceasefire in Gaza and the release of hostages held by Hamas after a meeting Wednesday with his counterpart in Indonesia. Johann Wadephul and Indonesian Foreign Minister Sugiono said the humanitarian catastrophe resulting from the Israel-Hamas war in Gaza is unbearable and a two-state solution is the sole means of ending the conflict. 'The goal for all of us is clear: a two-state solution, which must be negotiated,' Wadephul said. Sugiono, who like many Indonesians uses a single name, told a joint news conference with Wadephul in the capital Jakarta that they also discussed how to overcome geopolitical challenges and rising trade barriers during the productive and contructive meeting. Indonesia, the world's most populous Muslim-majority country, is a longtime supporter of Palestine and does not recognize Israel. 'Germany, as a special friend and partner of Israel, also has a responsibility, and I believe we will have responsible discussions about this in the future,' Wadephul said. Germany supports Israel's fight against Hamas while calling on Israel to take further measures to alleviate suffering in Gaza. 'There is now a very acute opportunity for a conflict resolution in which many neighboring countries have contributed to this,' Wadephul said. 'It would be in all of our interests if this political conflict could be resolved through a peaceful process.' The meeting took place on the second leg of Wadephul's five-day trip to Indonesia and Japan, which he called key partners for economic relations to build free trade, competition and fairness. 'It is crucial for us that, in a world of crises and conflicts, of trade restrictions and trade barriers, we build a network of strong, global partnerships with whom we connect politically and economically,' Wadephul said. The talks came as the Trump administration enacted new tariffs on dozens of countries, including a 19% rate on Indonesia and 10% on the European Union. Germany is Indonesia's main trading partner and investor in Europe, with trade volume last year reaching $6.15 billion, while Europe's largest economy invested more than $343 million in Indonesia in 2024, Sugiono said. Negotiations between Indonesia and Germany on a Comprehensive Economic Partnership Agreement likely can be concluded in 2026, he said. 'The CEPA will further expand opportunities for cooperation, particularly in the economic sector, between the two countries to increase trade and investment,' Sugiono said, adding that Germany has made a 1.6 billion euro ($1.8 billion) commitment to Indonesia's clean energy future through the Just Energy Transition Partnership. Wadephul also praised Indonesia's role during the mediation of the July conflict between Thailand and Cambodia and the Association of Southeast Asian Nations for serving as an anchor of stability in Southeast Asia.
Yahoo
29 minutes ago
- Yahoo
Best money market account rates today, August 20, 2025 (secure up to 4.41% APY)
Find out which banks are offering the best MMA rates right now. As interest rates continue to fall following the Fed's recent rate cuts, it's more important than ever to ensure you're earning a competitive rate on your savings. One option you may want to consider is a money market account (MMA). Wondering where the top money market account rates can be found today? Here's what you need to know. Where to find the best money market account rates today From a historical perspective, money market account interest rates have been quite high. The national average interest rate for money market accounts is just 0.58%, according to the FDIC, but the top money market account rates often pay above 4% APY or even more — similar to the rates offered on high-yield savings accounts. Here's a look at some of the highest MMA rates available today:Additionally, the table below features some of the best savings and money market account rates available today from our verified partners. Will money market account rates keep going down? Deposit account rates — including money market rates — are tied to the federal funds rate. This is an interest rate range set by the Federal Reserve and is what banks charge each other for overnight loans. When the Fed increases the federal funds rate, deposit account rates usually increase. And conversely, when the Fed lowers its rate, deposit rates fall. Between July 2023 and September 2024, the Fed maintained a target range of 5.25%–5.50%. However, as inflation cooled and the economy improved, the Fed slashed the federal funds rate by 50 basis points in September 2024. It then cut an additional 25 bps in November, and another 25 bps in December. As a result, money market rates have begun to decline. Further rate cuts are expected in September 2025, which means now might be the last chance for savers to take advantage of today's higher rates. Read more: Can you lose money in a money market account? Up Next Up Next Is now a good time to put your money in an MMA? Considering that money market account rates are still elevated, these accounts are an attractive option for savers. Even so, deciding whether it's the right time to put money in a money market account also depends on your financial goals and the broader economic conditions. Here are some key factors to consider: Liquidity needs: Money market accounts offer easy access to your money since they often come with check-writing capabilities or debit card access (though there may be a cap on monthly withdrawals). If you need to keep your money accessible while still earning a decent yield, a money market account could be ideal. Savings goals: If you have short-term savings goals or want to build an emergency fund, a money market account can provide a safer place for your cash, with returns that are better than most traditional savings accounts. Risk tolerance: For conservative savers who prefer to avoid the ups and downs of the stock market, money market accounts are appealing because they are backed by FDIC insurance and can't lose principal. However, if you're saving for a long-term goal like retirement, riskier investments are necessary to generate higher returns that will get you to your savings target. Given that interest rates are still elevated, now could be a good time to consider a money market account, especially if you're seeking a balance of safety, liquidity, and better returns than traditional savings accounts. Comparing rates from different institutions will help you find the best options available. Best money market account rates: Frequently asked questions Who has the best money market rate right now? Today, the highest money market account rate is offered by TotalBank. It's MMA pays 4.41%, which is more than seven times the national average. How can I get 5% interest on my money? In today's falling interest rate environment, it's quite difficult to find a deposit account that pays 5%. Some promotional checking accounts have rates above 5% APY, though checking accounts aren't a great place to store cash savings long-term. Instead, you may want to investigate market investments, which come with more risk than money market accounts and other types of deposit accounts, but also provide much higher returns, on average. Are money market accounts safe? Yes. As long as you open an account with a federally insured bank or credit union, your money market account is safe from market risk. The only way your account can lose money is if you incur fees.
Yahoo
29 minutes ago
- Yahoo
What's in a name? MSNBC, soon to be MS Now, adds to perilous history of the corporate rebrand
The Tropicana Crisis of 2009 underlined the importance of a company's branding. In January of that year, the orange juicemaker, owned by PepsiCo, changed the look of its cartons. The shiny orange punctured by a straw was replaced by an almost abstract blob of orange juice. Consumers responded accordingly, and sales dropped by as much as 20%. Less than two months after rolling out its new look, Tropicana announced it would switch back to the original packaging. Since then, the slate of companies with messy rebrands has only grown. Facebook became Meta. Twitter became X. The UK fund manager Standard Life Aberdeen became 'abrdn', before switching to 'aberdeen'. All attracted ridicule. This week MSNBC entered the chat: the cable news channel announced it would change its name to MS Now (My Source News World Opinion) after splitting from NBC later this year. Users online are once again taking part in the schadenfreude of a haphazard rebrand. 'It sounds like the newest addition to the Microsoft Office suite,' read one comment on Reddit. 'Sounds like you're demanding to be given multiple sclerosis immediately,' offered another. In a statement, MSNBC assured viewers its new name 'underscores our mission: to serve as your destination for breaking news and thoughtful analysis' as it splits with NBC News. The channel will now be a part of Versant, a spin-off from Comcast, and will join the business news channel CNBC, Golf Channel, GolfNow and SportsEngine. CNBC, which initially stood for Consumer News and Business Channel, will keep its current name. Marketing experts said this was just the latest example of a company navigating the difficult terrain of a rebrand. In 2019, when Mastercard announced it was simply removing its name from its logo, the company's chief marketing executive told the Wall Street Journal it spent almost two years surveying customers around the world to ensure people would still recognize the brand. 'Consumers would be shocked at the amount of effort that is often behind many of these changes,' Americus Reed, a marketing professor at the University of Pennsylvania's Wharton business school, said. 'You would not believe how willing people are to sit for hours and agonize over the curve of the font, should this be teal or not really blue.' Of MSNBC's new logo, Reed said: 'I promise you that a lot of time and energy went into coming up with that picture… They spent months and hundreds of thousands of dollars to do this kind of thing.' Significant work also goes into finding a new name that is legal, appropriate and matches the vision of a company. 'The search for a legally available and trademarkable name is not to be underestimated,' said Sadie Dyer, strategy director at branding agency Siegel+Gale. 'You generate hundreds and hundreds, for this, probably thousands of names, and go through a lot of internal reviews.' MSNBC faced a particularly challenging task since the 'NBC' brand and its peacock logo is among the most iconic in US media. 'You can't compete with the peacock logo. That's some of the best branding that there is,' said Dyer. 'It's distinctive, something that is historic and nostalgic. People have lots of connection with it.' Companies sometimes redefine themselves in ways that don't sit well with consumers. Many people still refer to Elon Musk's social media platform X as Twitter, though the company rebranded in 2023, and still refer to posts as 'tweets'. The streaming wars has also seen the creation of new services, such as Peacock, Paramount Plus and HBO Max, which changed its name to 'Max' before again changing its name, to HBO Max, this year. Casey Bloys, chair of HBO content, told the New York Times cable television has been having a hard time, branding-wise, with the transition to digital 'and a bunch of other companies are trying to navigate that'. No matter what a company's new name is, a change will likely draw its critics. People are drawn toward the familiar, and many will compare anything new to what had existed before. 'It's the nature of change. Even if it's something that people look back on and fully follow you to the new name, it's always going to result in people immediately resisting,' Dyer said. 'You're asking people to change their behavior and the name that they call you. That's really tough, and it's going to take a lot of work.' Solve the daily Crossword
