The US Federal Reserve kept interest rates unchanged on Wednesday. Policymakers, however, anticipate a rate hike later this year due to persistent inflation concerns. New projections show nine officials expect a hike by the end of 2026.
Americans are bracing for record-high home cooling expenses this summer, with average household electricity costs projected to reach $792, a 10.5% increase from last year. Rising temperatures and electricity prices have driven summer cooling costs up nearly 40% since 2020, straining household budgets and leading one in six households to fall behind on utility payments.
DoubleLine Capital CEO Jeffrey Gundlach stated that new Fed Chair Kevin Warsh adopted a more hawkish tone than anticipated, emphasizing price stability and signaling a reduced inclination for easy monetary policy. Gundlach believes this strengthens the case for owning long-term U.S. Treasuries.
Nursing and medical students in Australia are facing significant financial strain due to mandatory placement costs, with some resorting to camping and renovating old caravans. The National Union of Students is calling for expanded government support.
Smart refrigerators, offering AI features and app connectivity, face issues of software obsolescence and security risks. Manufacturers often discontinue support, potentially turning expensive appliances into 'zombie' devices or security hazards.
CarMax shares fell 8% despite beating Wall Street's earnings and revenue expectations for its first fiscal quarter. New CEO Keith Barr detailed a high-level turnaround strategy focused on growth and cost-cutting, but margin pressure and declining gross profit per vehicle remain concerns.
Cape Verde goalkeeper Vozinha's mother, Ana Candida Evora, will receive a US visa to watch her son play at the World Cup after House Democratic leader Hakeem Jeffries intervened to waive fees, resolving earlier cost issues.
Crisil reports Indian airlines' operating profits may drop 10-15% this fiscal due to high ATF prices, airspace restrictions, and rupee depreciation amid the Middle East conflict, despite potential easing in fuel prices.
BBC Radio 4's "The World Tonight" is being cancelled after over 50 years as part of significant cost-saving measures. The cuts will also lead to job losses, program reductions, and a review of BBC channels and stations, with a focus on shifting content to digital platforms.
AO World is outsourcing up to 200 UK call centre roles to South Africa, citing rising labour costs, while reporting a 145% jump in pre-tax profits to £50.5m. The company expects to save £4m annually from the move, with about 150 roles already shifted.
Owning a home, a long-held Indian dream, is becoming increasingly difficult in 2026 due to rising property prices and rents. While buying involves significant upfront costs and long-term financial commitments, renting offers flexibility but requires smart investment of the rent-EMI difference to compete financially.
AO World is outsourcing up to 200 UK call centre roles to South Africa, citing rising labour costs and inflationary pressures. The online electrical goods seller reported a 145% jump in pre-tax profits to £50.5m and is giving £20m to shareholders.
BBC Director General Matt Brittin announced sweeping cuts, including programme scrapping and compulsory redundancies, to save £500m over three years. Around 2,000 jobs are expected to be lost as the corporation reviews its TV and radio network to adapt to digital audiences.
UK inflation held steady at 2.8% in May, defying expectations of a rise. This suggests the Middle East conflict's impact on living costs may be less severe than feared, despite high fuel prices. Economists are downgrading inflation forecasts and questioning future interest rate hikes.
New UK government policy requiring minimum GCSE grades for student loans could cost universities over £200m annually. This move disproportionately affects institutions reliant on students without formal qualifications, potentially narrowing access to higher education for disadvantaged learners.
UK inflation remained at 2.8% in the year to May, unchanged from April. Transport costs saw the steepest rise, while food prices slightly decreased. Inflation is expected to continue climbing due to the Iran war's effects, with predictions of a peak between 3.5% and 4% in late 2026.
UK inflation remained unexpectedly at 2.8% in May, with higher transport and fuel costs offset by slower food price rises, according to the ONS. Economists had forecast a rise to 3%, but the flatlining figure defied expectations.
UK inflation remained unexpectedly at 2.8% in May, with higher transport and fuel costs offset by slower food price rises. Economists had forecast a rise to 3%. The ONS reported the flatlining figure, which follows a decline in April, as various price movements balanced out.
UK inflation remained unexpectedly at 2.8% in May, with higher transport and fuel costs offset by slower food price rises. The ONS figure defied economists' forecasts of a rise to 3% and comes as the Bank of England prepares to set interest rates.
UK inflation remained unexpectedly at 2.8% in May, defying economists' forecasts of a rise to 3%. Higher transport and fuel costs were offset by slower food price rises, according to the ONS.
Townsville City Council has increased minimum general rates by 7.2% for households and businesses, citing inflation and fuel price hikes. The average residential ratepayer will see a 6.8% increase, amounting to an extra $5.48 weekly, with a cap of 20% for some properties. The council also found $16 million in savings.
Databricks sees soaring revenue driven by AI adoption, but higher costs from increased AI agent usage are impacting margins. The company's CEO, Ali Ghodsi, noted the shift from 'tokenmaxxing' to 'value-maxxing' as businesses optimize AI spending. Databricks continues to grow privately, outvaluing rival Snowflake.
Hopes for a US-Iran ceasefire could reopen the Strait of Hormuz, easing fertiliser supply issues for Australian farmers. While new shipments are arriving, concerns remain about shipping company reluctance and an uneven playing field for importers.
Anthropic has paused significant price increases for its Claude Agent SDK, which were set to take effect June 15. The changes would have billed SDK usage separately at API rates, impacting third-party apps and developers. The pause allows users to continue with existing subscription limits.
