Hot inflation data pushes back expectations for US rate cuts
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Inflation Rises, but Key CPI Index Climbs Less Than Expected
The Consumer Price Index, which measures changes in the costs of household goods, rose 0.3 percent in April, a slight drop from the month before, potentially helping the case for the Fed to cut interest rates this year.Inc. - Business - Inflation -
EUR/USD Little Changed; Dollar Weakness May Be Limited Near Term
The EUR/USD traded little changed, and Danske Bank Research generally expects the pair to continue being range-bound in the near term.The Wall Street Journal - World -
Gold Edges Higher, Supported by Fed Rate-Cut Bets
Gold edged higher in the early Asian session, supported by bets for Fed rate cuts which would enhance the appeal of the non-interest-bearing precious metal.The Wall Street Journal - World - Federal Reserve -
US government data shows the number of fatal overdoses fell last year
US government data shows the number of fatal overdoses fell last yearABC News - Health -
Traders examine interest rate bets after inflation updates
Also in this newsletter: Putin hits out at west, Slovak PM shot, measuring productivity in the officeFinancial Times - World -
Major U.S. stock indexes closed at records after the release of the inflation data, with the S&P 500, Nasdaq and Dow gaining 1.2%%, 1.4% and 0.9%, respectively.
Major U.S. stock indexes closed at records after the release of the inflation data, with the S&P 500, Nasdaq and Dow gaining 1.2%%, 1.4% and 0.9%, respectively.The Wall Street Journal - World -
U.S. inflation eased slightly in April, offering relief to investors and the Fed after a run of economic data at the start of the year revealed simmering price pressures.
U.S. inflation eased slightly in April, offering relief to investors and the Fed after a run of economic data at the start of the year revealed simmering price pressures.The Wall Street Journal - World -
US stocks close at record high on slower pace of inflation
Investors increase bets on Fed’s interest rate cuts this year as price growth moderatesFinancial Times - Business -
Ministers split over aid for Titanic shipbuilder Harland & Wolff
UK chancellor ‘dragging feet’ over £200mn package for Belfast groupFinancial Times - World -
Labour and Tories to raise pressure on City watchdog over growth
Concerns have risen over Financial Conduct Authority’s ability to spur competitivenessFinancial Times - World -
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Siemens Cuts Digital Industries Outlook on China Weakness
Siemens cut fiscal 2024 guidance for its closely watched digital industries unit, citing a slower-than-expected recovery in its China automation operations, but raised its forecast for the smart infrastructure division.The Wall Street Journal - World - China -
Meme Stocks Are Back, to Mixed Reactions
Online investors have embraced unlikely companies and ridden the dizzying highs and crashing lows of their share prices.Inc. - Business -
Data centres have turned Big Tech into big spenders
Companies need AI services revenues, not cost savings, to fuel data centre boomFinancial Times - Business -
Cisco reports better-than-expected results even as revenue suffers steepest drop in 15 years
Cisco reported a 13% drop in revenue for the fiscal third quarter, the steepest decline since 2009. But results still topped estimates.CNBC - Business -
Meme stocks like GameStop and AMC are hot again — what it means for meme coins
A weekly look at the most important moves and news in crypto, and what’s on the horizon in digital assets.MarketWatch - Business -
Fire threat eases near Canada's oil sands hub, but a long, hot summer looms
The threat of a wildfire near Canada’s oil sands hub of Fort McMurray, Alberta, appeared to be easing Wednesday, a day after thousands of residents were forced to evacuate their homes in the city of 68,000ABC News - World -
Aegon Backs Guidance, Launches Fresh Buyback
Aegon said it was on track to meet its guidance for a key earnings figure this year after a decline for the first quarter, and launched a new share buyback program of up to €200 million.The Wall Street Journal - World -
PGA Championship betting: Bettors love Scottie Scheffler's chances of back-to-back majors
Scheffler is the pre-tournament favorite and is getting the most bets and money to win at Valhalla.Yahoo Sports - Sports -
It will be even more expensive to borrow money for college this year—3 tips to cut down costs
Students taking out federal loans to pay for undergraduate college degrees will see a fixed interest rate of 6.53%. Use these tips to minimize your costs.CNBC - Business -
Instagram co-founder Mike Krieger joins Amazon-backed Anthropic
Instagram co-founder Mike Krieger is joining Anthropic as the chief product officer. Anthropic is one of the hottest artificial intelligence startups.CNBC - Business -
Musk Headed Back to Testify Again as SEC Probes Twitter Takeover
A federal judge said the billionaire CEO of Tesla and SpaceX must take the stand again as regulators investigate the chaos of his purchase of the social media platform, which Musk renamed X.Inc. - Business - Elon Musk -
Glencore chief backs South Africa as Anglo takeover battle rages
Gary Nagle’s praise came hours after the country’s storied miner announced it would break itself upFinancial Times - Business -
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Deutsche Telekom Backs Guidance After Strong First Quarter
Deutsche Telekom maintained its full-year guidance after it reported profits and core earnings for the first quarter above consensus, boosted by growth in core markets.The Wall Street Journal - World -
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The U.S. saw a slight decline in the number of overdose deaths last year, marking a rare improvement in a persistent fentanyl crisis, preliminary federal data show.
The U.S. saw a slight decline in the number of overdose deaths last year, marking a rare improvement in a persistent fentanyl crisis, preliminary federal data show.The Wall Street Journal - World -
Here's the inflation breakdown for April 2024 — in one chart
The consumer price index rose 3.4% in April from a year earlier, marking a decrease from March, according to the Bureau of Labor Statistics.CNBC - Business -
How EU countries are pushing for further migration outsourcing
Also in this newsletter: a Chinese proposal to defuse the trade tensions between Brussels and BeijingFinancial Times - World - European Union -
‘Israelis go back to Europe?’ Some on the left need to rethink their slogans | Jo-Ann Mort
A majority of Israel’s Jews today are not descended from Europe, but rather from Arab nations. To expect them to leave Israel is unprecedented, unrealistic and wrong. Though not a prevalent catchphrase in the student demonstrations, the slogan ...The Guardian - World - Israel -
2024 NBA Draft Combine takeaways: Bronny James bounces back as LeBron watches, Adem Bona stars in scrimmages
What happened and notable performances at the NBA Draft Combine on WednesdayCBS Sports - Sports - NBA -
2024 PGA Championship odds, picks, field, predictions: Golf insider backing Brooks Koepka at Valhalla
Sia Nejad reveals his PGA Championship 2024 picks, props and sleepers for Valhalla Golf Club following Rory McIlroy's win at the Wells Fargo ChampionshipCBS Sports - Sports -
Review: There's no curiosity about Amy Winehouse at all in the reductive, shallow portrait 'Back to Black'
There's no curiosity about Amy Winehouse at all in Sam Taylor-Johnson's 'Back to Black,' just a condescending presentation of a girl with a great voice and a bad boyfriend.Los Angeles Times - Entertainment -
Soulful singer Michael McDonald looks back in his new memoir, 'What a Fool Believes'
Something stopped Michael McDonald from telling his story publicly — himABC News - Entertainment -
FirstFT: Shein prioritises London back-up plan as New York IPO stalls
Also in today’s newsletter, Putin meets Xi and CME plans Swiss bitcoin marketFinancial Times - World - New York -
Inflation Moderated Slightly in April, Offering Some Relief for Consumers
Prices rose 3.4 percent in April from a year earlier, a slight easing from the previous month and a positive sign for the Federal Reserve.The New York Times - Business -
Japan's Economy Shrinks Again as Inflation Hits Consumers' Pocketbooks
The weakness of the yen currency drives up the prices of imported food and gasoline.The Wall Street Journal - World - Japan -
Amazon's appearance at Upfronts highlights push beyond digital ads and into traditional media
Amazon made its debut Upfronts pitch to advertisers, putting it on stage with major media networks.CNBC - Business