The Federal Reserve's Kashkari said inflation remained excessively high despite a PCE report that came in below expectations.
Kashkari is scheduled for an exclusive interview with CNBC's Steve Liesman on Wednesday evening. Further details are expected as the story develops.
Investors are already questioning the debt-fueled expansion of neoclouds and whether the large AI infrastructure build-out will generate long-term returns.
Rolling coverage of the latest economic and financial news French government bonds are rallying this morning after Paris avoided being downgrade by rating agency Moody’s last Friday night. The yield, or interest rate, on French 10-year bonds has dropped by 3.5 basis points to 4.98%, away from the 24-year high set last week. Since our previous periodic review of the sovereign rating, slower growth and a higher deficit have pushed France’s debt burden somewhat higher than previously expected. In addition, government bond yields have risen more rapidly than we expected, while widespread social protests have erupted which could constrain fiscal consolidation efforts. The Aa3 rating assumes that a deficit-reducing budget for 2027 will be adopted, while financing costs and social tensions will abate somewhat in the next few months. Sourcing revenue continued to grow strongly, primarily driven
Leftist president Luiz Inácio Lula da Silva defeated the far-right senator and was elected president of Brazil for a fourth non-consecutive term Full report: Lula wins fourth term as Brazil’s president over Flávio Bolsonaro Live second round results The local electoral court ordered the immediate restoration of 100% of the bus fleet and ordered the arrest of the municipal transport secretary, Pablo Souza, on suspicion of an electoral offence and disobeying court orders. The arrest warrant could not be carried out, however, because he is in Paris on what the city government described as an “official mission”, and is not expected to return to Brazil until Monday. Late in the afternoon, Flávio Bolsonaro also filed requests for voting to be extended by two hours in cities in the states of São Paulo, Paraná and Santa Catarina, but because of heavy rain that he said had prevented voters from t
A stretch of London’s Oxford Street is to be vehicle-free as part of £150m government-backed scheme Much of Britain’s most famous shopping street will be closed to traffic from Monday as the long-awaited pedestrianisation of London’s Oxford Street begins. About half of the 1.2 mile street will initially be vehicle-free, after decades of planning and dispute over how to best use the street, an important transport thoroughfare and the home for flagship stores for big shopping chains. Continue reading...
Marcus Perkins, who owns a hair and beauty salon in Brierley Hill, says he is scared for the future.
Pilots report pressure to extend working hours and fears of penalties for declaring themselves unfit to fly Three in four European airline pilots have taken microsleeps in the cockpit, while almost a quarter routinely fly despite being too fatigued to work, according to a report. The findings, based on a survey of almost 7,200 captains and first officers by the European Cockpit Association (ECA), include pilots reporting insufficient rest, pressure to extend working hours and fears of being penalised for declaring themselves unfit to fly. Continue reading...