The next few months will be key for California’s embattled and costly high-speed train project as the agency overseeing the project works to assemble state and federal financing needed to complete the first leg. The California High-Speed Rail Authority may hit the market as soon as November with a fresh tranche of state-backed bonds. At
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The number of people applying for unemployment aid in the US reached the highest level in more than six months last week, amid growing signs the historically tight labour market could be cooling. In the week to July 30, there were 260,000 initial jobless claims on a seasonally adjusted basis, according to labour department data
Liz Truss’s supporters have stepped up their attack on the Bank of England’s handling of inflation, as the foreign secretary blamed the BoE and the Treasury for failing to avert the economic crisis facing Britain. Truss says she will change the mandate of the BoE to toughen its focus on inflation, while she claims that
Senior advisor to the President Ivanka Trump (R) and brother Donald Trump Jr. listens during a rally in support of Republican incumbent senators Kelly Loeffler and David Perdue ahead of Senate runoff in Dalton, Georgia on January 4, 2021. Mandel Ngan | AFP | Getty Images Donald Trump Jr. and his sister Ivanka Trump have
The writer is a senior fellow at Yale University and author of the upcoming book, ‘Accidental Conflict: America, China, and the Clash of False Narratives’ Geostrategic accidents rarely happen out of thin air: look no further than the first world war. Nancy Pelosi’s unfortunate stopover in Taiwan, which follows years of mounting Sino-US tensions, should
Former Federal Reserve Vice Chair Richard Clarida will return to the bond giant Pacific Investment Management Co. as global economic advisor following his exit from the central bank in January and the conclusion of an internal Fed probe into his personal trading, which found that he hadn’t broken any rules. At the Fed, Clarida —
In this article ZG Lacheev / Getty As today’s prospective home buyers confront high home prices and rising interest rates, there’s one thing they can do to save money — raise their credit scores. “This is one actionable thing buyers can do to save a little bit of money in this market,” said Amanda Pendleton,
New York State is facing lower revenues and bigger budget gaps as the national economy takes a turn for the worse, according to the latest update released by the state Division of the Budget. Gov. Kathy Hochul announced the first quarterly update to the fiscal 2023 enacted budget shows the national economic downturn has started to
European equities rose cautiously on Thursday as investors balanced positive US corporate earnings with a wave of monetary tightening by central banks. The regional Stoxx 600 share index added 0.3 per cent in morning trading, lifted by technology stocks after Wall Street’s tech-heavy Nasdaq Composite equity gauge rose to its highest level in three months
UK construction activity fell for the first time since the start of last year as high inflation and rising interest rates took their toll on the sector, according to a closely watched survey. The headline seasonally adjusted S&P Global/Cips UK construction purchasing managers’ index, or PMI, fell to 48.9 for July, down from 52.6 the
In this article YUM National Guard troops pose for photographers on the East Front of the U.S. Capitol the day after the House of Representatives voted to impeach President Donald Trump for the second time January 14, 2021 in Washington, DC. Chip Somodevilla | Getty Images In an earnings call Wednesday morning, Yum Brands CEO
Burned by a hot housing market, some frustrated home buyers may have hoped that sky-high listing prices are finally coming down to earth. Well, they are – sort of. It just depends on where you live. To better understand the housing affordability situation, Fortune magazine reached out to Moody’s Analytics to get access to its
Britain faces a protracted recession and the worst squeeze on living standards in more than 60 years, the Bank of England warned on Thursday, as it raised interest rates to their highest level since the onset of the global financial crisis. Eight of the Monetary Policy Committee’s nine members voted to raise interest rates by
Looking back over some old reviews recently, I found one where I absolutely leathered a place because, despite the fantastic food, I objected strongly to their completely “natural” wine list. What’s embarrassingly clear, reading it four years later, is how the experience made me feel impotent, disempowered and slighted. If I’d previously been in denial
Growth in the UK is projected to be lower than its peers in the coming years, and inflation is expected to be higher and more persistent. But I think it is worth looking at an underpriced risk: that a muddled government response might accidentally set the already-ruined British state ablaze because ministers lack a clear
China said its armed forces had launched joint air and naval military exercises on Thursday on an unprecedented scale in six areas ringing Taiwan as Beijing sought to punish the country for hosting US House Speaker Nancy Pelosi. No immediate signs of the People’s Liberation Army drills could be detected in Taiwan, but Taipei issued
The Italian resort town of Porto Cervo sits at the center of Costa Smeralda, a moneyed tourist destination in Sardinia known for its beaches, golf courses and upscale hotels. Adele stopped in recently with her beau Rich Paul for a hotel stay while on a cruise vacation. Superyachts line the pier. Lamborghini is once again
Many real estate analysts are forecasting U.S. house prices to fall because mortgage interest rates have risen so much. Some are expecting small declines, others, large, but most mention that house prices are “sticky” on the downside and because of that they don’t expect prices to start falling until many months after house sales have
Dozens of men and boys, covered head to toe in coal dust, stream in and out of the mine shafts bored deep into a mountain in northern Afghanistan. In the mines below Nahrain in Baghlan province, children as young as eight work as labourers, loading the fossil fuel on to donkeys which carry it to
Chinese rhetoric was running so hot ahead of Nancy Pelosi’s arrival in Taiwan this week that many people watching livestreams of the historic moment on state-controlled websites were surprised when her plane touched down at Taipei’s Songshan Airport. Why, some wondered, had the People’s Liberation Army Air Force not forced the US House of Representatives
Is Beyoncé still a pop star? It’s a question I’ve been asking myself over the past week as I walked around Brooklyn, where her latest album has been blasting steadily from cars and portable speakers, providing a soundtrack to late summer barbecues and block parties. I even witnessed one man playing Renaissance loudly through his