The fire that badly damaged Limoges’ 19th-century city hall was set on purpose, the local prefect said. By Sunday it was under control, and France was counting the damage: more than 2,400 arrests on Saturday alone, according to authorities, nearly 1,000 police and gendarmes injured, and hundreds of businesses looted in Paris, Marseille, Lyon, and
The latest spike in fuel prices is harder to stomach than the one earlier this year as businesses and consumers have less capacity to absorb the shock, while fresh price data show inflation is spilling over beyond energy. While crude oil prices have somewhat moderated despite the Iran war re-escalating recently, refining constraints have kept
WASHINGTON — The Social Security Administration projected Wednesday that the annual cost-of-living adjustment for older adults and people with disabilities will go up by 3.6% beginning in 2027, with some recipients complaining that is not enough to offset soaring prices. The adjustment translates to $75 extra per month for the 73 million people who receive
NEW YORK — Shoppers showed their willingness to spend in September even after a better-than-expected splurge in August. Retail sales increased 0.8% last month, after delivering a revised 1.3% gain in August, according to the Commerce Department’s report Thursday. Economists were anticipating a 0.3% increase for the month, according to FactSet. Still, excluding business at
Inflation has risen to 3.7% in the year to September, which is a higher-than-expected increase fuelled by gasoline prices. Car fuel prices jumped by 34.2% over 12 months. In September alone, they jumped by 9.1%, accounting for more than half of the increase in inflation, according to the Bureau or Labor Statistics. Overall, energy inflation
Bill Ackman thinks tighter monetary policy could prove to be a mistake in the era of AI. The billionaire investor said late Thursday that the Federal Reserve’s decision to hike interest rates last week was the wrong move, because AI may be rewriting the rules that guide the central bank’s response to inflation. Ackman wrote
