Author: News Room

(Reuters) – The Federal Reserve is more likely to deliver a long-awaited rate cut in September after a U.S. Commerce Department report showed inflation made a bit of progress toward the Fed’s 2% goal last month and spending softened, traders expect. After the data, traders priced in about a 53% chance of a rate cut in September, versus about 49% before the report. The report showed the core personal consumption expenditures price index, which the Fed uses to gauge underlying price pressures, rose 0.2% in April from March, following a 0.3% increase the prior month. Consumer spending, which accounts for…

By Katie Paul NEW YORK (Reuters) -Meta said on Friday its flagship app Facebook (NASDAQ:) is attracting its highest number of young adults in three years, as it tries to shake the platform’s reputation as the bastion of an older generation. More than 40 million U.S. and Canadian adults aged 18 to 29 now check Facebook daily, the social media company said, in its first-ever release of such demographic information. Facebook, whose founder Mark Zuckerberg turned 40 last month, marked its 20th anniversary this year. The growth reflects the company’s efforts in the last few years to recapture the attention…

A bipartisan coalition of lawmakers has urged the Biden Administration to abandon its plan to veto the Congressional proposal to repeal the SEC’s controversial Staff Accounting Bulletin No. 121 (SAB 121). The letter, dated May 30, called on the administration to urge the SEC to rescind the standard or sign the Congressional proposal to repeal the accounting standards into law. Bypassing traditional process The letter highlighted the potential risks posed to consumers and the financial sector by the current accounting treatment mandated for digital assets. SAB 121, published on March 31, 2022, requires entities that safeguard digital assets for customers…

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Special counsel Jack Smith has once again asked the federal judge overseeing the classified documents case against Donald Trump to impose a gag order against the former president, barring him from making statements about the law enforcement officers who searched his Mar-a-Lago resort. The gag order request is focused on false or misleading statements Trump has made about the 2022 search of Mar-a-Lago, including that his life was in danger because of a policy in place around the use of deadly force during the search. Prosecutors say Trump’s comments in recent weeks have “endangered law enforcement officers involved in the investigation…

Topline A jury in Idaho found Chad Daybell—an author who wrote about the end times and apocalypse—guilty Thursday of murdering his first wife and his second wife’s two children, after about a day of deliberation. Key Facts Daybell was found guilty of three counts of first-degree murder, insurance fraud and conspiracy to commit murder and grand theft in relation to the murders prosecutors say he committed in 2019, multiple outlets reported Thursday afternoon. Daybell had pleaded not guilty to killing his first wife, Tammy Daybell, and his second wife’s two children Tylee Ryan, 16, and JJ Vallow, 7. Jury deliberations…

I’m not one to casually toss around the H-word, but, sure, you can say it: I’m a hero.On Thursday, Google accounted in a blog post that it would be scaling back the AI search results it had rolled out the week prior to somewhat disastrous and hilarious ends. For example, its Google AI Overviews results suggested that it was good to eat one rock per day (which was presented seriously but was actually based on an article from The Onion), that Barack Obama was the first gay president, and that the way to keep the cheese from sliding off your…

When you buy through our links, Business Insider may earn an affiliate commission. Learn more Most new iPhone releases offer incremental upgrades, but after testing and using the iPhone 15 over the months since its release, its upgrades are clearly more substantial. It might not look like it from the outside, but the iPhone 15 represents one of Apple’s biggest updates to the base iPhone since the iPhone 12 from 2020. More so than any base iPhone in recent memory, the iPhone 15 doesn’t make you feel like you’re missing out by not buying the Pro version. It dips its toes…

(Reuters) – The start of a new month can mean only one thing for investors: time for the all-important monthly U.S. employment report, but also for a likely European Central Bank rate cut, as well as the outcome of India’s marathon general election. Here is a look at what’s happening in markets in the coming week, from Ira Iosebashvili in New York, Swati Bhat in Mumbai, Yoruk Bahceli in Amsterdam, Anousha Sakoui and Amanda Cooper in London. 1/COOL STORY Is the U.S. economy finally cooling? It will take several months of data to answer that question, but one key piece…

In a market report, Citi analysts said they do not believe that the premium on Iberdrola (OTC:) (BME) shares is justified by its stable profit growth and high-quality assets. What should we do with Iberdrola? Try InvestingPro and make better decisions! Subscribe HERE AND NOW and get almost 40% off on your 1-year plan for a limited time! According to Citi, these are the reasons why they claim that Iberdrola has an unjustified premium: Operational challenges consistently generating suboptimal returns in the U.S., just as capital expenditure is increasing. Operational RoRE (Return on Regulatory Equity) of the UK network below…