Consumer prices in the United States rose at a faster-than-expected pace in April, with inflation climbing to its highest annual level since May 2023 as rising energy costs added further pressure to households and complicated the outlook for Federal Reserve policy. According to data released by the Bureau of Labor Statistics (BLS) on Tuesday, the consumer price index (CPI) increased 0.6% on a s
Further sanctions against those linked to Iran have been implemented by the international community, this time from the United Kingdom. On Monday, 12 entities and individuals were placed under these sanctions, with the UK citing hostile and criminal activity. The government, led by Prime Minister Keir Starmer, said the targets were linked to a criminal network, Zindashti, as well as financia
Global e-commerce company eBay Inc. has described a US$56 billion (A$77.3 billion) takeover proposal from smaller retailer GameStop Corp as “neither credible nor attractive". “The Board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it,” eBay Chairman Paul Pressler said in a news release. eBay considered factors like its stan
United States existing home sales remain relatively steady in April, as affordability remains an issue. According to the National Association of Realtors Existing Homes Report, existing home sales rose 0.2% month-over-month in April to 4.02 million units. Analysts polled by Reuters had forecast home resales would rise to a rate of 4.05 million. There was also no change in home sales year-
Super Nation is a fortnightly column that examines, explains and analyses key issues in one of Australia's largest, fastest-growing and most important industries: superannuation. Would you prefer the investment professionals managing your superannuation savings to ‘hug their benchmarks’ or that you are left exposed to the risk of ‘flying blind’? These are some of the concerns raised by indus
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Sony announced that it will be acquiring the complete music catalogue of Recognition Music Group. It will acquire Recognition Music Group from funds managed by Blackstone, gaining more than 45,000 songs from artists like Beyonce, Fleetwood Mac and Rihanna. While the companies have not revealed the financial terms of the deal, a source familiar with the transaction told Reuters it was for aro
Saudi Arabia has reportedly carried out covert military strikes on Iran in retaliation for attacks on the kingdom, according to Reuters, citing Western and Iranian officials, signalling an escalation in the widening regional conflict. The previously unreported attacks mark the first known instance of Saudi Arabia directly conducting military operations on Iranian territory. According to two
United States President Donald Trump and Chinese President Xi Jinping are set to talk in person this week, during Trump's first trip to China since 2017. The two-day trip to Beijing will see the two leaders looking to discuss geopolitical tensions, such as Iran and Taiwan, artificial intelligence, a rare earth minerals deal, and more. These talks will be the first time the leaders have spoke
The United States is now imposing sanctions on individuals and companies who assist Iran with the ongoing war. The State Department made the announcement late last week, confirming that three individuals and 11 entities would be hit with the new sanctions. They are all located across the Middle East and China. “Included in today’s actions are several China-based entities providing satelli
United States consumer sentiment has fallen to a record low in May as gas prices continue to surge amid the Iran war. According to the University of Michigan’s Survey of Consumers, the consumer sentiment index dropped 3.2% month-over-month and 7.7% year-over-year to 48.2. Economists surveyed by Dow Jones had been looking for 49.7. Consumer expectations were up 0.8% month-over-month to 48.
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