Markets are little changed after the fresh inflation numbers came in broadly in line with expectations....
Markets are little changed after the fresh inflation numbers came in broadly in line with expectations. The S&P 500 is set to open roughly flat, while expectations have solidified for the Federal Reserve to hold interest rates steady when it meets next week.
CPI report shows annual U.S. headline inflation rate of 3.7% — a 14-month high
The numbers: U.S. consumer prices leaped 0.6%...
The numbers: U.S. consumer prices leaped 0.6% in August — the biggest increase in 14 months — largely because of higher oil prices. Yet inflation more broadly did not appear to show worrying signs. If energy and food are set aside, so-called core inflation rose a smaller 0.3% in August, the consumer price index showed.
That was a tick above Wall Street expectations, however, and cast a negative tone over financial markets. The core rate has increased a slower 0.2% in the prior two months.
The yearly rate of inflation moved up to 3.7% last month from 3.2% in July and a 27-month low of 3% in June.
The annual rate of core inflation, for its part, decelerated to 4.3% from 4.7% and touched the lowest level in 22 months.
Apple unveiled its latest flagship device, the iPhone 15, at its annual product event yesterday in Cupertino, California. The most notable change is the adoption of USB-C, replacing the Lightning port, in compliance with the European Union's charger port standardization mandate for 2024.
Nvidia joined IBM, Salesforce, and other tech companies in taking the White House’s voluntary pledge to put safety guardrails on artificial intelligence.
Coca-Cola launched a limited-edition flavor called Y3000 that was created with the help of AI.
NASA said its James Webb Space Telescope identified carbon-based molecules on a distant exoplanet, suggesting it could have a water ocean and, thus, life.
British pubs are getting on the surge pricing train and charging more for beer at popular drinking times.
A Vincent Van Gogh painting stolen from a Dutch museum in 2020 was returned to an art crimes detective, safely tucked inside an Ikea bag.
More than 5,000 people feared dead in Libya floods
Thousands more are still missing after torrential rains from Cyclone Daniel caused two dams to burst,...
Thousands more are still missing after torrential rains from Cyclone Daniel caused two dams to burst, unleashing catastrophic floods on the coastal city of Derna and nearby areas. Libya’s split government is complicating the response to the storm: The area in eastern Libya affected by the floods is controlled by a militia leader supported by the Kremlin and is not recognized by the United Nations. Analysts are calling it Libya’s “Katrina moment.”
Oil, gas investors show appetite for green initiatives
Around three-quarters of major institutional oil and natural...
Around three-quarters of major institutional oil and natural gas investors surveyed for a new Deloitte study are willing to forego higher dividends and share buybacks in exchange for increased investment in energy transition projects.However, the study revealed contrasting spending priorities, with investors favoring transformational technologies such as battery storage and transport electrification, while 40% of surveyed company executives put their focus on hydrogen and carbon capture and storage technologies.
