US Inflation Hits Two-Year Low, Giving Hope for End to Fed Hikes
US inflation sharply cooled last month, offering fresh hope that the Federal Reserve can soon wrap up the most aggressive interest-rate hikes in decades.
Bloomberg Business
Lucid Falls on Second-Quarter Electric Car Delivery Miss
Lucid Group Inc. fell after the electric luxury sedan manufacturer undershot expectations for deliveries in the latest quarter, even as it announced the start of shipments to Saudi Arabia, its biggest financial backer.
Zara’s Billionaire Owner Becomes California Landlord to Walmart
Amancio Ortega, the billionaire founder of the Zara clothing chain, is expanding his network of warehouses in the US with the acquisition of a new logistics center in California.
Traders Look Past Bank of Canada Decision to See More Pain Ahead for Loonie
Traders betting the Bank of Canada will raise its benchmark interest rate on Wednesday are already scanning the horizon for signs the economy will slump and drag down the nation’s currency with it.
Portugal to Approve Decree on Privatization of Airline TAP in the Coming Weeks
Portugal’s plan to sell off a chunk of state-owned airline TAP SA will move closer to fruition when the government sets out rules for the process in coming weeks, Finance Minister Fernando Medina said.
Wall Street Is Fighting New York’s Ban on Non-Compete Agreements
Last month, New York lawmakers approved one of the nation’s toughest bans on non-compete agreements. While the measure awaits Governor Kathy Hochul’s signature, lobbying groups from the finance industry and other business associations have gone to work pushing for exceptions.
South African Police, Army Secure Main Roads After Truck Attacks
South Africa’s army has been deployed to support the police in securing key arterial routes following a spate of attacks on trucks that the government has described as economic sabotage.
Powell’s Favored Services Inflation Gauge Hits Lowest Since 2021
US services prices excluding housing and energy, a category closely monitored by Federal Reserve Chair Jerome Powell, increased at the slowest annual pace for 18 months in June.
World’s Top Fertilizer Maker to Sell New Carbon-Hungry Soy in US
The world’s largest fertilizer company has agreed to distribute a new soybean variety that promises to soak up more carbon while yielding more of the vegetable oil and protein needed to meet demand for green diesel, chicken feed and veggie burgers.
Mapping Where Inflation Is Falling in the US
The headline rate of annual inflation dipped below 2% in New England last month, the lowest for any US region in more than two years, according to Bureau of Labor Statistics data published Wednesday. All regions saw sharp decreases in inflation last month. In the West South Central area, which includes Texas, the headline annual rate fell to 2.2% — and in Houston, the state’s biggest city, it dropped to 1.7% from a peak above 10% last year. In the West North Central region, which includes Kansas
