Slowing inflation and a cooling property sector are fueling expectations that the US central bank can adopt a smaller interest rate hike this week, as policymakers assess current efforts to rein in prices.. Since then, the interest-sensitive property sector has slumped, retail sales have weakened and wage growth has started to ease, prompting some Fed policymakers to suggest it may be time to slow the pace of rate hikes further.
Italian Sabato De Sarno has been appointed creative director at Gucci, the luxury label and parent group Kering announced on Saturday.. The designer from Naples succeeds Alessandro Michele, who left the Italian luxury brand in November after seven years as creative director.
British airline Flybe said Saturday it had ceased trading and all flights had been cancelled.. "Flybe has now ceased trading.
Tesla head Elon Musk met with senior White House officials Friday to discuss the Biden administration's push to grow the electric vehicle market, Press Secretary Karine Jean-Pierre said.. Jean-Pierre said Biden did not meet with Musk, but "it’s important that senior members of his team had a meeting."
Chevron defended its new $75 billion share repurchase program from White House criticism Friday, as it reported record profits of $35.5 billion in 2022.. In all, Chevron returned $11.25 billion to shareholders, repurchasing nearly 70 million shares, it said in an earnings release.
A French appeals court on Friday cut the sentence of a former Ikea France chief convicted in 2021 of setting up an illegal system to spy on staff and job applicants.. Ikea France, sentenced to a one-million-euro fine in 2021, did not appeal.
A top French university on Friday forbade students from using artificial intelligence chatbot ChatGPT to complete assignments, in the first such ban at a college in the country.. ChatGPT still makes factual mistakes, but education facilities in other countries have rushed to ban the AI tool.
Greece's government on Friday easily survived a no-confidence vote called by the opposition over a long-running wiretap scandal in which top officials were targeted by state intelligence for months.. But leftist former premier Alexis Tsipras called for the no-confidence vote on Wednesday, calling Mitsotakis the "mastermind and leader" behind a "criminal network" that had wiretapped officials' phones.
A key indicator of US inflation eased again in December, according to government data released Friday, opening the door to smaller interest rate hikes as efforts to cool the economy ripple through sectors.. The Federal Reserve has hiked the benchmark lending rate seven times last year, with an aim to ease demand as inflation surged, while trying to avoid tipping the world's biggest economy into a recession.
Spain's economy grew faster than expected in 2022 as strong domestic consumption and a surge in investement offset worries over high inflation, officials figures showed Friday.. The INE said the growth figures reflected a strong performance in spring when gross domestic product rose by 2.2 percent between April and June thanks to steady household consumption.
