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US inflation exceeded forecasts in August after fuel prices rose, but underlying price pressures eased. The headline rate of consumer prices rose 3.7 per cent year on year, according to the Bureau of Labor Statistics, up from 3.2 per cent in July and higher than consensus forecasts of 3.6 per cent. On a monthly basis,
China has challenged the planned US presidency of the G20 in 2026, according to officials briefed on the discussions, in a move that underscores the deep sense of mistrust between Beijing and Washington. Chinese officials used diplomatic meetings at the G20 summit in New Delhi this week to voice opposition to the US assuming the
Apple and Microsoft, the most valuable companies in the US, have argued some of their flagship services are insufficiently popular to be designated “gatekeepers” under landmark new EU legislation designed to curb the power of Big Tech. Brussels’ battle with Apple over its iMessage chat app and Microsoft’s search engine Bing comes ahead of Wednesday’s
Chinese authorities stepped up measures to support the renminbi and boost the country’s housing market in an effort to restore confidence in the world’s second-largest economy. The People’s Bank of China said on Friday it would cut the amount of foreign currency that financial institutions are required to hold in reserve, signalling its resolve to
Receive free Healthcare updates We’ll send you a myFT Daily Digest email rounding up the latest Healthcare news every morning. Are the British work-shy? The UK is now the only developed country where more people have continued to drop out of the workforce since the pandemic. The work and pensions secretary has urged the over-50s
Receive free UK house prices updates We’ll send you a myFT Daily Digest email rounding up the latest UK house prices news every morning. UK house prices contracted at the fastest annual pace since 2009 in August as the impact of higher interest rates hit the property market, according to the mortgage provider Nationwide. The
European stocks eked out small gains and Bund yields rose on Wednesday as investors waited for economic data from the eurozone, which is expected to provide more signals on the outlook for inflation. The region-wide Stoxx Europe 600 index advanced 0.1 per cent, extending gains into the third consecutive trading session, while France’s Cac 40