World News
Inflation picks up again in June as tariffs slowly work their way through U.S. economy
Consumer prices rose in June as President Donald Trump’s tariffs began to slowly work their way through the U.S. economy. The consumer price index, a broad-based measure of goods and services costs, increased 0.3% on the month, putting the 12-month inflation rate at 2.7%, the Bureau of Labor Statistics reported…
Read More »Jerome Powell asks inspector general to review Fed’s $2.5B renovation project
The Federal Reserve has brought in its inspector general to review a building expansion that has drawn fire from the White House, according to a source familiar with the issue. Fed Chair Jerome Powell asked for the review, following blistering criticism of the project, initially pegged at $2.5 billion but…
Read More »Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat
LONDON/NEW YORK, July 11 (Reuters) – Suppliers to Walmart WMT.N have delayed or put on hold some orders from garment manufacturers in Bangladesh, according to three factory owners and correspondence from a supplier seen by Reuters, as U.S. President Donald Trump’s threat of a 35% tariff on the textile hub…
Read More »Trump’s tariffs on Brazil could make your coffee even more expensive
President Donald Trump’s proposed 50% tariff on Brazilian imports is bad news for coffee drinkers. Brazil, the largest U.S. supplier of green coffee beans, accounts for about a third of the country’s total supply, according to data from the U.S. Department of Agriculture. Coffee beans need to grow in a…
Read More »White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation
President Donald Trump’s budget chief on Thursday said that Federal Reserve Chairman Jerome Powell “has grossly mismanaged the Fed” and suggested he had misled Congress about a pricey and “ostentatious” renovation of the central bank’s headquarters. The broadside by Office of Management and Budget Director Russell Vought opened up a…
Read More »Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker
What’s “Froot Loops” in Italian? The European confectionary company Ferrero has agreed to buy WK Kellogg Co., the manufacturer of iconic American cereals, for $3.1 billion. The acquisition is set to bring the publicly traded maker of Froot Loops, Frosted Flakes and Rice Krispies under the privately owned Italian manufacturer…
Read More »Sports executive charged with bid-rigging in Texas arena project
Oak View Group CEO Tim Leiweke was indicted on a federal criminal conspiracy charge related to allegedly rigging a bid to develop, manage, and operate the University of Texas’ basketball and entertainment arena in Austin, the Department of Justice said Wednesday. Oak View Group, which will pay $15 million in…
Read More »OpenAI to release web browser in challenge to Google Chrome
SAN FRANCISCO — OpenAI is close to releasing an AI-powered web browser that will challenge Alphabet’s market-dominating Google Chrome, three people familiar with the matter told Reuters. The browser is slated to launch in the coming weeks, three of the people said, and aims to use artificial intelligence to fundamentally…
Read More »Amazon extends Prime Day discounts to 4 days as retailers weigh tariffs and price increases
Amazon is extending its annual Prime Day sales and offering new membership perks to Gen Z shoppers amid tariff-related price worries and possibly some consumer boredom with an event marking its 11th year. For the first time, Seattle-based Amazon is holding the now-misnamed Prime Day over four days. The e-commerce…
Read More »Boeing delivers most airplanes since late 2023 after ramping up 737 Max output
Boeing delivered 60 airplanes last month, the most since December 2023, as the plane maker seeks to raise production of its bestselling 737 Max jets after a series of manufacturing and safety problems. The tally was the highest since before a door plug from one of its new 737 Max…
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