June’s reading of the Fed’s preferred inflation gauge showed a slightly higher-than-expected price increase. The core Personal Consumption Expenditures (PCE) index, which excludes food and energy costs and is closely monitored by the Federal Reserve, rose 2.6% year-over-year in June, surpassing economists’ 2.5% estimate and remaining unchanged from May. Despite this, the June figure represents […] More
Max Verstappen set the fastest time in the first practice session at Spa-Francorchamps, despite taking his fifth internal combustion engine (ICE) of the season, exceeding his allocated number of power units. Verstappen’s quickest lap on soft tyres was 1:44.372. Oscar Piastri, the recent Hungarian Grand Prix winner, finished 0.531 seconds behind in his McLaren, also […] More
A transition to a greener economy could create millions of jobs in some of Africa’s largest countries, according to a recent report. Research conducted by the development agency FSD Africa and impact advisory firm Shortlist suggests that 3.3 million jobs could be generated across the continent by 2030. The report, titled “Forecasting Green Jobs in […] More
The latest unemployment figures from the Hungarian Central Statistical Office (HCSO) reveal that the labor market has continued its trend of gradual improvement since the beginning of the year. The model estimate indicates a drop in the monthly unemployment rate to 4.2% in June 2024. Additionally, the official three-month moving average, based on survey data, […] More
Barack and Michelle Obama have endorsed Kamala Harris for the Democratic presidential nomination, significantly bolstering her campaign to unify the party behind her bid for the White House against Donald Trump. The former president and first lady announced their support in a video released on Friday, where they shared a phone call with Harris to […] More
Labour’s assertion of being caught off guard by a substantial deficit in the public finances has been deemed “not credible” by the head of a prominent think tank. Rachel Reeves is set to reveal a £19 billion gap in public finances as she gears up for an autumn tax overhaul. An initial review by Treasury […] More
France’s high-speed rail network has suffered major disruption due to coordinated “malicious acts,” including arson attacks, just hours before the Paris Olympics opening ceremony. The state-owned railway operator, SNCF, reported that arsonists targeted installations along the lines connecting Paris with the west, north, and east of the country, causing severe disruptions across the network over […] More
NatWest announced the acquisition of a portion of Metro Bank’s residential mortgage portfolio, coinciding with its stronger-than-expected first-half performance. The FTSE 100 bank reported a pretax operating profit of £3 billion for the first six months of the year, down from £3.6 billion last year but surpassing analysts’ expectations of £2.6 billion. The decline was […] More
On Friday, the yen steadied near a 12-week high against the dollar while Asia-Pacific equity markets stabilized, recovering from their worst session since mid-April the previous day. MSCI’s broadest index of Asia-Pacific shares was only 0.06% lower, after a 1.88% drop on Thursday. Much of the market weakness stemmed from Taiwan, which had reopened after […] More
In a recent update on its fuel market oversight, the Competition and Markets Authority (CMA) reported that the inflated retail fuel margins since 2019 have cost motorists more than £1.6 billion in 2023. Last year, the CMA discovered that drivers had been overcharged by £900 million at supermarket fuel stations alone in 2022. The CMA […] More