Passengers on one of the UK’s busiest inter-city rail routes face a prolonged period of disruption after the operator of the west coast mainline sharply reduced services, blaming “severe” staff shortages. Avanti West Coast, which runs services from London to cities in the north of England and Scotland, said on Monday it would implement an
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U.S. Virgin Islands voters mainly supported incumbents in Saturday’s primary election. Those who went to the polls voted in the Democratic primary for governor, legislature, and a host of less prominent positions. The Republican party has no significant presence in the islands. The winners will face independent candidates in the Nov. 8 general election. Five
It turns out the planet might have a future after all. Following a period of acute and rising pessimism, the US Congress — and President Joe Biden — have pulled off the most significant climate change bill in American history. The fact that almost every observer, including many Democrats, had written off any chance of
Boris Johnson has rejected calls to draw up an emergency response to the cost of living crisis during his final weeks as prime minister, with Downing Street insisting big fiscal decisions must be taken by his successor. The CBI employers federation on Monday joined calls by Gordon Brown, former Labour prime minister, for Johnson to
A surge in the use of alternative trading systems in the municipal bond market through the first half of 2022 punctuated the growing prevalence of such platforms among dealers and other market participants in recent years, according to data published in a recent MSRB report. The number of customer transactions completed through ATSs jumped from
Globalisation means that an accountant in New York can get a minute-by-minute update of the worst few weeks in the life of a British family. The case of Archie Battersbee, a 12-year-old boy who has now died, has gripped media outlets the world over: his death was marked by a push notification from The New
Consumer expectations for U.S. inflation over the coming years declined sharply in the latest survey by the Federal Reserve Bank of New York, a finding that may ease the Fed’s concern about ever-rising prices getting baked-in to household behavior. Expectations for U.S. inflation three years ahead fell to 3.2% in July, from 3.6% the previous
The looming end of a lucrative economic incentive program in Texas has led to a stampede by companies seeking to lock in billions of dollars in local tax breaks that, in the case of semiconductor manufacturers, may be needed to snare new federal funding. So far this year, more than 400 applications from energy and
The Senate Sunday passed the $740 billion Inflation Reduction Act, which provides billions in climate and energy funding for states and local governments. The House plans to return Friday to vote on the legislation. The long-negotiated bill features $430 billion in spending and $740 billion in revenue generated largely by corporate taxes. Roughly $300 billion
A sign stands outside an upscale home for sale in the Lake Pointe Subdivision of Austin, Texas. Ed Lallo | Bloomberg | Getty Images Consumer confidence in the housing market dropped to the lowest level since 2011, as both prospective buyers and sellers have become more pessimistic, according to a monthly survey released Monday by
National Pickleball Day, celebrated each August 8th, is a grand day to recount a legend about the sport’s origins. The inventors of the game were seeking just the right kind of ball. It had to be bouncy enough to keep a volley going, dead enough to usually stay within a badminton-sized court. No ball tried
In this article BBBY A view of a Bed Bath and Beyond store in Daly City, California. Justin Sullivan | Getty Images Shares of Bed Bath & Beyond jumped more than 40% on Monday as meme traders seemed to be betting on the stock despite any apparent catalyst for the move. The heavily shorted stock,
Minority communities have been the hardest hit financially by the current spike in consumer prices and housing costs, with high percentages of Black, Latino and Native American families reporting serious financial problems and even threats of eviction, according to a survey published Monday by the Harvard T. H. Chan School of Public Health, NPR and
Investment groups that register unrealised gains as profits should do so gingerly. If they make big mark-ups when markets are roaring, it may amplify write-offs when the asset cycle turns. SoftBank epitomises the problem. The Japanese tech investment group has booked an investment loss of ¥2.3tn ($17bn) at its Vision Funds for the first quarter.
The writer is a contributing columnist, based in Chicago Tammy, 49, her mother Mary and daughter Nikki, 11, sat polishing off a corn dog on a bench at the Ottawa County fair. They were sheltering from the late-July sun, mercifully upwind of the malodorous goat show, and around the corner from the Redneck Fries stall,
Huge losses at SoftBank’s flagship Vision Funds will force the company to begin “dramatic” cost-cutting after plunging technology valuations and a weak yen drove Masayoshi Son’s embattled conglomerate into a record ¥3.1tn ($23bn) quarterly net loss. In a press conference that Son himself described as “depressing”, he admitted that his famously aggressive global investment strategy
When an international dispute has been rumbling on for decades, it can seem like a chronic condition that will never become terminal. The US and China were squaring off about Taiwan in the 1950s. I wrote a cover story for The Economist on the Taiwan Strait crisis of 1995. So it is tempting to see
China has extended military drills around Taiwan, stoking fears of a drawn-out period of heightened tension that is piling pressure on the US to respond. Beijing’s largest-ever military exercises around Taiwan had been expected to wind down after navigation warnings for seven areas around the country expired early on Monday. But the People’s Liberation Army
Private equity giant Carlyle Group is replacing its chief executive Kewsong Lee, who will leave the New York and Washington-based group just two years after he was appointed in July 2020. The exit throws the $376bn group’s leadership into renewed upheaval as it navigates a more challenging investment environment, with volatile markets and a pullback
Much has been written about whether Big Tech has peaked. Meta recently announced its first sales drop, amid a fall in online advertising. Amazon, Netflix and others have cut back on hiring. Plenty of platforms have seen their stock prices crushed this year, which is typical as rates go up, and their growth slow. But
Russell Anderson is a man who has learned to live within his humble means. After a chronic illness forced him to retire as a coach driver three years ago, he managed to stretch his benefits to cover his bills, including rent and fuel. Increasingly, he has found that balancing act harder to juggle. Anderson, who