33 h. ago Core inflation jumps as consumers face higher prices as Trump’s tariffs start to take effect

The report is the first major economic indicator report since Trump fired the the chief statistician for the Bureau of Labor Statistics

Economics

34 h. ago US prices continued rise in July as Trump tariffs impact consumer costs

Prices were 2.7% higher last month compared with a year ago, and core inflation went up at a higher pace than what was seen in JuneUS prices continued to rise in July, according to key economic data released on Tuesday, as Donald Trump’s international tariffs shakeup started to impact consumer costs.Prices were 2.7% higher last month compared with a year ago, according to the consumer price index (CPI), which measures the prices of a basket of goods and services. Though inflation dipped down in the spring, the annualized inflation rate jumped up 0.4% since April. Continue reading...

Economics

7 d. ago Celtic price set for target, why Rangers deal was rejected, Lennon Miller latest

The latest Scottish transfer news from Rangers, Celtic, Aberdeen and the Scotland national team this Wednesday morning.

Economics

8 d. ago Trump says treasury chief Scott Bessent no longer being considered for Fed chair

Trump may soon name pick for open Fed board seat and Fed chair nominee, but Bessent wants to stay in current roleDonald Trump said he would “shortly” announce his pick for an open seat on the Federal Reserve’s board of governors and possibly his nominee for Fed chair as well, but that he had removed the treasury secretary, Scott Bessent, from consideration since Bessent wants to remain in his current job.In a CNBC interview, Trump called it a “pleasant surprise” that the Fed governor Adriana Kugler had decided to leave her seat now instead of when her term ends in January, a move that appears to have accelerated Trump’s decision on who to appoint to an open seat on the Fed board with possible plans to promote that person to the top policymaking role when the term of the Fed chair, Jerome Powell, ends in May. Continue reading...

Politics

9 d. ago Trump to appoint Fed governor and labour statistics chief this week

US president set to tighten grip on economic information and policymaking after controversial sacking of BLS official

Politics

3 w. ago Are US tariffs starting to bite? Trump, in denial over rising prices, targets Fed chief Powell

The White House is trying to drive out the Federal Reserve chair. Critics warn it would be a costly bid to pass the buckMemo from the White House: inflation is “right on track”, it declared this week, citing the latest official data. Price growth is now “very low”, according to Donald Trump. The actual statistics paint a markedly different picture.Just six months after he regained power, in part by promising to rapidly reduce prices, Trump has presided over the chaotic rollout of tariffs on an array of overseas products that many have argued risk having the exact opposite effect. Continue reading...

Politics

3 w. ago Jaguar Land Rover cutting up to 500 UK jobs as Trump’s trade tariffs bite

The car maker said around 1.5 per cent of its UK workforce would be affected by the job cuts, which are going as part of a voluntary redundancy programme

Politics

4 w. ago Trump says he's 'unlikely' to fire Fed chief Powell despite GOP urging

President Trump said he's 'unlikely' to fire Federal Reserve Chair Jerome Powell after months of threats.

Politics

4 w. ago Trump threatens to impose drug and chip tariffs as soon as 1 August

US president talks of low tariff to give pharmaceutical firms a year or so to build, and then making it ‘very high’Business live – latest updatesDonald Trump has threatened to impose tariffs on pharmaceutical products and semiconductors as soon as 1 August, the latest deadline for the introduction of his “reciprocal” levies on individual countries.The US president told reporters late on Tuesday the taxes on drug imports could be announced “probably at the end of the month, and we’re going to start off with a low tariff and give the pharmaceutical companies a year or so to build, and then we’re going to make it a very high tariff”. Continue reading...

Events

4 w. ago US inflation rose in June as Trump’s tariffs start to show in prices

Inflation remains far below the peaks seen three years ago, when price increases reached as high as 9%Inflation accelerated in June as the impacts of Donald Trump’s tariffs slowly started to show in US prices.Business leaders have said for months that the high, volatile rates of Trump’s tariffs will force companies to raise consumer prices. Prices remained stable in the spring, particularly as many of Trump’s highest tariffs were paused; however, they started increasing in May and have continued to rise in June. Continue reading...

Economics