US PCE inflation hits 4.1%, core inflation rate comes at 3.4%
US inflation accelerated further in May, with a key measure of price pressures climbing above 4% for the first time in more than three years as higher energy prices stemming…
Economy
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Copper rises, but outlook murky amid US policy risk and weak China demand
Copper prices rebounded slightly on Wednesday from the previous session, but the metal remained under pressure due to recent losses because of a stronger US dollar and hawkish Federal Reserve…
UK business activity falls again in June amid weak demand and job cuts
Britain’s private sector contracted for a second straight month in June.The latest flash purchasing managers’ index from S&P Global showed the UK composite PMI slipped to 49.4 in June from…
Bank of England unveils final stablecoin rules, eases key proposals
The Bank of England on Monday published its final policy statement and draft Code of Practice for systemic stablecoin issuers, easing some of the proposals it had put forward for…
ECB study flags limited impact of AI boom on US jobs and wages
A surge in artificial intelligence adoption may be displacing some workers, but its overall effect on aggregate employment and wages in the United States has remained limited so far, according…
Starmer to step down; markets eye Burnham’s fiscal plans and chancellor pick
UK Prime Minister Keir Starmer said on Monday that he would step down as Labour leader and prime minister, ending months of political turmoil and setting in motion a leadership…
Why a hawkish Fed isn’t scaring Wall Street
US stocks are showing surprising resilience as Wall Street increasingly abandons expectations for near-term Federal Reserve rate cuts.Several major financial institutions have recently pushed back their forecasts for monetary easing,…
UK retail sales beat forecasts with 1.2% rise in May
British retail sales rebounded more strongly than expected in May, supported by favourable weather conditions and promotional activity by retailers, according to official data released on Friday.The figures come despite…
Warsh begins Fed revamp with new task forces and policy review
Federal Reserve Chair Kevin Warsh used his first press conference as the central bank’s leader on Wednesday to announce a broad review of the institution’s policies and operations, unveiling five…
Citi revises Fed rate-cut expectations following hawkish policy signals
Citigroup has revised its expectations for US Federal Reserve interest rate cuts, pushing back its projected timeline by one month as policymakers adopt a more hawkish stance and inflation concerns…