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Inflation beaten, Fed cuts rates, but prices remain high: Donald Trump

Inflation has risen in three of the last four months and is slightly higher than it was a year ago, when it helped sink then-Vice President Kamala Harris' presidential campaign. Yet you wouldn't know it from listening to President Donald Trump or even some of the inflation fighters at the Federal Reserve. Trump told the United Nations General Assembly late last month: Grocery prices are down, mortgage rates are down, and inflation has been defeated. And at a high-profile speech in August, just before the Fed cut its key interest rate for the first time this year, Federal Reserve Chair Jerome Powell said: Inflation, though still somewhat elevated, has come down a great deal from its post-pandemic highs. Upside risks to inflation have diminished. Yet dismissing or even downplaying inflation while it is still above the Fed's target of 2 per cent poses big risks for the White House and the Federal Reserve. For the Trump administration, it could find itself on the wrong side of a potent

Putin praises Trump's peace efforts even after failing to win Nobel Prize

Russian President Vladimir Putin on Friday praised US President Donald Trump's peace efforts, despite not winning a Nobel, and voiced hope for securing an agreement to extend a pivotal nuclear arms pact with Washington for another year. Asked by reporters whether he thinks Trump was unjustly passed over for the Nobel Peace Prize in favour of Venezuelan opposition leader Maria Corina Machado, Putin replied he wasn't the one to decide but extolled Trump's efforts toward a ceasefire in Gaza and in Ukraine. He's really doing a lot to resolve such complex crises that have lasted for years and even decades, Putin said of Trump while in Dushanbe, Tajikistan, for a summit of former Soviet nations. He added that if the Gaza ceasefire deal is carried out, it would mark a historic" achievement. The Russian leader didn't comment on Machado's win, but he said without mentioning any names that the Nobel Committee in the past has awarded the prize to those who have accomplished little to help glob

US online retailers delist millions of banned Chinese electronic items

Earlier this week, the FCC said it plans to vote this month to tighten restrictions on telecommunications equipment made by Chinese companies deemed national security risks

AstraZeneca to strike landmark drug price deal with Trump administration

The deal is expected to be announced at the White House on Friday, said the people, who spoke on condition of anonymity because the plans are not yet public

US sanctions Serbia's main oil supplier, which is controlled by Russia

The United States has introduced sanctions against Serbia's main oil supplier, which is controlled by Russia, the company said on Thursday. Serbia almost entirely depends on Russian gas and oil supplies, which it receives mainly through pipelines in Croatia and other neighbouring states. The gas is then distributed by Petroleum Industry of Serbia (NIS), which is majority-owned by Russia's state oil monopoly Gazprom Neft. NIS said Thursday it had failed to secure another postponement of the US sanctions, which could jeopardise its efforts to secure oil and gas deliveries in a longer term. The special license from the US Department of the Treasury, which enables unhindered operational business, has not yet been extended, NIS said in a statement. It added that it has stored enough supplies to keep the operation moving for customers for a longer while. It also said problems could occur at NIS gasoline stations with payment made by foreign bank credit cards but added that that cash ...

Trump's $100,000 H-1B visa fee may hurt US universities and schools

Higher education leaders and public-school superintendents say they depend on skilled foreign workers to fill critical roles

Lupin to invest $250 mn in new US facility for critical respiratory drugs

Drug firm Lupin on Wednesday said it will set up a new manufacturing facility in Coral Springs, Florida, entailing an investment of USD 250 million. With a projected cumulative investment of USD 250 million, including research & development, infrastructure and capital expenditures over a five-year period, the new site will have the capacity to accommodate the production of more than 25 critical respiratory medicines, the Mumbai-based drug maker said in a regulatory filing. The Florida-based plant would produce products like albuterol inhalers for children with asthma, it added. By strengthening domestic manufacturing and enhancing supply chain diversification, this critical project will enhance medicine security and strengthen the company's position as a global respiratory leader, it said. Locally, the infrastructure will generate over 200 new long-term, skilled jobs by 2030 in Broward County. "The expansion of Lupin's footprint in Coral Springs is a core part of our growth ...

Trump calls for jailing Chicago mayor, Illinois Guv before troop deployment

Trump has frequently called for jailing his opponents since he first entered politics in 2015, but Comey is the first to face prosecution

Nvidia to keep sponsoring H-1B visas despite Trump's new $100K fee: Report

Trump's order bars new H-1B recipients from entering the United States unless the employer sponsoring their visa has made an additional $100,000 payment

Trump says Putin's offer on nuclear arms control 'sounds like a good idea'

US Vice President JD Vance said last month that Washington was considering a Ukrainian request to obtain missiles that could strike deep into Russia, including Moscow

Mass layoffs will start if shutdown talks 'going nowhere': White House

Trump described the potential job cuts on Sunday as 'Democrat layoffs,' telling reporters, Anybody laid off that's because of the Democrats

Elon Musk's $1 trn pay plan faces pushback from investors, state officials

In response to Thursday's letter, Tesla said in a post on X that the performance incentive plan aligns Musk's compensation with shareholder value creation 'of trillions of dollars'

Sonam Wangchuk detention, Bihar elections, new US bill on H1-B visa & more top

administration. Bihar Chief Minister Nitish Kumar disbursed ₹10,000 each to 2.5 million women under the Mukhyamantri Mahila Rojgar Yojana, bringing the total aid disbursed so far to ₹10,000 crore

Trump targets deals in pharma, AI, energy, mining before midterm elections

The Trump administration is pursuing deals across up to 30 industries

Wholesale attack on democracy in India: Rahul Gandhi at Colombia university

Claiming that there is a "wholesale attack on the democratic system" in India currently, Congress leader Rahul Gandhi has said allowing different traditions to thrive is important for the country, as "we cannot do what China does, which is to suppress people and run an authoritarian system". Speaking at the EIA University in Medellin, Colombia, Gandhi said India has a much more complex system as compared with China and India's strengths are very different from that of the neighbouring country. India also has a very old spiritual tradition and a thought system with profound ideas that are useful in today's world, he said, adding that there is a lot that the country can offer in terms of tradition and the way of thinking. "I am very optimistic about India, but at the same time, there are fault lines within the Indian structure, there are risks that India has to overcome. The single-biggest risk is the attack on democracy that is taking place in India," the leader of opposition in the

US auto sales seen rising 6% in Oct quarter as EV demand surges

Market research firm Cox Automotive expects US new vehicle sales to be about 4.14 million units for July-September, compared with 3.9 million in the same period last year

US government shutdown looms as lawmankers' talks fail to reach deal

The Republican-controlled Senate is expected to vote on a temporary spending bill that has failed once already, with no sign that a second vote will bring success

Amazon to pay $2.5 billion to settle Prime deception allegations

Of that, $1.5 billion will go into a fund to repay eligible Prime subscribers and Amazon will not admit wrongdoing as part of the settlement, the FTC said

US mulls supplying long-range Tomahawk missiles to Ukraine, says JD Vance

Tomahawk missiles have a range of 2,500 km (1,550 miles), and would be a powerful asset in Ukraine's arsenal as it fights back against regular barrages of Russian missile and drone attacks

Echoes of 2007 grow louder as risky debt, buyouts raise concerns

There are some key differences between now and 2007. Banks are more heavily regulated and have larger equity cushions. Consumers haven't borrowed as much this time around