Author: News Room

The Consumer Price Index (CPI), the main measure of inflation, increased 0.2% in September, a similar increase consumers saw in August and July, the Bureau of Labor Statistics reported. Over the last 12 months, the index increased 2.4%, the lowest yearly increase since February 2021. A rise in food and shelter costs made up 75% of the total increase in September. The shelter index rose by 0.2% in September while the food index increased by 0.4%.Rising auto insurance premiums, medical care costs and airline fares also all drove the increase in CPI. Balancing out these increases are the recreation and…

By Vanessa Infanzon, Next Avenue In 2001, a YMCA in Brooklyn hired a husband-and-wife team of television producers, Stephanie Walter and John Williams, to help 15 high school students pull together a film about retired seamen living at the YMCA’s residential facility. The class’s final project, a one-hour documentary called “Sea Story,” was so well done that WNET, the PBS Invesco Dynamic Media ETF station in New York, broadcast it. “The sailors were very interesting,” Williams says, “but Stephanie and I found the students to be more interesting.” Walter and Williams asked the YMCA if they could recruit students for…

Vice President Kamala Harris’ political team has raised $1 billion since entering the presidential race in late July, two sources familiar with the figure told CNN – marking a massive fundraising milestone in her campaign against former President Donald Trump. Other presidential candidates, alongside their political parties, have exceeded the $1 billion mark in past elections. But Harris has crossed that threshold at a breakneck pace, underscoring how much her ascension to the top of the Democratic ticket roughly two-and-a-half months ago has transformed the finances of this year’s White House contest. “It’s clear that Harris has done something absolutely…

Wall Street’s benchmark equities index closed at a record high, with investors turning their attention to the release of important inflation data on Thursday.The S&P 500 gained 0.7 per cent to finish at 5,792.04, surpassing its September 30 peak of 5,762.48.The technology-dominated Nasdaq Composite ticked up 0.6 per cent, but remained shy of its mid-July record high.The S&P 500 is now up 21.4 per cent so far in 2024, while the Nasdaq has gained 21.9 per cent.Wednesday’s stock moves came after the release of the minutes from the Federal Reserve’s September policy meeting and ahead of inflation data on Thursday…

Ratan Tata, the former Tata Group chairman, has died at the age of 86, according to a statement from the Indian conglomerate. “It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation,” the statement read. In a post on X, Indian Prime Minister Narendra Modi reacted to Tata’s passing. “Ratan Tata was a visionary business leader, a compassionate soul and an extraordinary human being,” he wrote. Tata retired as chairman in 2012 and was currently Chairman Emeritus…

WASHINGTON – Federal Reserve officials at their September meeting agreed to cut interest rates but were unsure how aggressive to get, ultimately deciding on a half percentage point move in an effort to balance confidence on inflation with worries over the labor market, according to minutes released Wednesday.The meeting summary detailed reasons that policymakers decided to approve a jumbo rate cut of 50 basis points for the first time in more than four years, and showed members divided over the economic outlook.Some officials hoped for a smaller, quarter percentage point reduction as they sought assurance that inflation was moving sustainably…

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: The S & P 500 rose to a new record high Wednesday. There was no specific catalyst for the move, but we are seeing a continuation of a theme that we’ve been pointing out. With oil prices sliding and China’s market giving back more of its recent gains, U.S. stocks have been free to rally. The market maintained its gains after minutes from the Federal Reserve’s September policy meeting showed…

Democratic presidential candidate Kamala Harris has backed an earth-shattering idea: For the first time, traditional Medicare would pay for personal assistance at home and related long-term care. Currently, only Medicaid and certain Medicare managed care programs provide long-term care benefits. Harris endorsed the idea in an appearance on the television show The View and her staff heavily promoted her initiative to news organizations. She’d break down the six-decade wall between traditional Medicare and long-term care and potentially vastly expand government support for frail older adults and their families. In her television appearance, Harris spoke passionately about being a caregiver for…

The Justice Department announced charges Tuesday against an Afghan national who was allegedly plotting a terrorist attack in support of ISIS on Election Day in the United States. The FBI arrested 27-year-old Nasir Ahmad Tawhedi in Oklahoma on Monday after he purchased rifles and ammunition from an undercover law enforcement officer. He is facing several charges, including conspiring and attempting to provide material support to ISIS. Partnering with an unnamed juvenile, Tawhedi planned to liquidate his assets, repatriate his family to Afghanistan, purchase assault rifles and “stage a violent attack” in the US, court documents say. The juvenile has also been arrested, according to court documents. The…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Brazil’s supreme court on Tuesday authorised the restoration of public access to Elon Musk’s X following a month-long ban, after the billionaire backed down in his feud with the top tribunal and agreed to remove extremist content from the social media platform.The climbdown represents an about-face for Musk, who for months had taunted the court, accusing Justice Alexandre de Moraes of being a “dictator” for demanding that X remove accounts linked to far-right groups in Brazil.“This quarrel with X demonstrated that no…