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More news - Recent news It's not just Taylor Swift fans who are keeping an eye on her Eras Tour dates. One of Europe's leading economists is acutely aware that the singer will spend the summer tearing around Europe's stadiums. Philip Lane, the European Central Bank's chief economist, had the pop star in mind when he spoke at an event on Monday. He was asked about the risk that persistent inflation in the services sector could intensify, especially as Europe heads into a particularly busy summer with the Paris Olympics and the Euro 2024 soccer championship in Germany. “Well, that’s really interesting,” he said at the event. “You managed to say all that without saying Taylor Swift.” Ms. Swift will tour Europe this summer, bringing with her hundreds of thousands of Swifties who spend on...

Related media - Recent news The Federal Reserve's preferred measure of inflation continues to show signs of cooling, accompanied by moderate growth in consumer spending - positive news for central bankers aiming to control rising prices and curb demand. The personal consumption expenditures (PCE) index rose 2.6% year-over-year in May, in line with economists’ expectations and down slightly from a 2.7% gain in April. Excluding the more volatile prices of food and fuel, the “core” inflation measure also rose 2.6% year-over-year, down from 2.8% in April. On a monthly basis, inflation remained remarkably subdued, with overall prices not showing any significant increase. The Federal Reserve is likely to scrutinize this new inflation data as it considers its next policy moves. Since 2022,...

Related media - News 24 hours Employers added 272,000 jobs last month, the Labor Department reported Friday, well above what economists had expected as hiring had gradually slowed. That was up from an average of 232,000 jobs in the previous 12 months, muddying the picture of an economy easing into a more sustainable pace. Most worrying for the Federal Reserve, which meets next week and again in July, is that wages rose 4.1% from a year ago, a sign that inflation may not yet be defeated. “For those who thought they were going to see a rate cut in July, that door has largely been closed,” said Beth Ann Bovino, chief U.S. economist at U.S. Bank. While wage increases are good for workers, she noted, persistent price increases are sapping their spending power. Stocks fell shortl...

Related media - Latest news Boeing is facing renewed criticism after the revelation of a January crash involving a 737 Max plane. During a factory tour, a Boeing executive revealed details about the missing bolts that led to a panel coming loose in mid-flight. This sharing of information angered the National Transportation Safety Board (NTSB), which called it a “blatant violation” of investigative rules. The NTSB is investigating the crash and says Boeing is not permitted to discuss details or speculate on the causes. As punishment, they will limit Boeing's access to information about the investigation and prevent him from questioning others at an upcoming hearing. This comes after two fatal Max crashes in 2018 and 2019, which raised concerns about Boeing's previous assurances of i...

Related media - Breaking news Anthony JF O'Reilly, a charming, ambitious, Irish-born former president of the HJ Heinz Company who also owned newspapers, luxury brands and trophy houses in France and the Bahamas, only to lose nearly everything in his eighth, has died. decade. on May 18 in Dublin. He was 88 years old. The Irish Times and other Irish newspapers, citing a family spokesman, said he died in hospital. No cause was given. From his earliest days, Mr. O'Reilly, known as Tony, has shown awkwardness about gifts. He was a world-class rugby player as a teenager: the “red-haired pin-up of Irish rugby”, as the Guardian called him. His talent for business was equally precocious. At 26, as marketing director of the Irish Dairy Board, he created the Kerrygold brand to sel...

Related media - Breaking news The European Union (EU) accuses Microsoft of foul play after regulators accused the tech giant of unfairly bundling its popular Teams video conferencing software with its Office suite. This practice, the EU says, gives Teams an unfair advantage over competitors like Zoom and Slack. The issue centers on how Microsoft packages Teams within its Office 365 and Microsoft 365 subscriptions, which include programs like Word, Excel, and Outlook. Regulators believe this bundling essentially forces companies to adopt Teams if they want Microsoft's other widely used programs. This, they argue, harms competition by limiting customer choice. This is just the latest chapter in the EU's ongoing efforts to curb the dominance of big tech companies. Just a day earlier...