Federal Reserve set to cut interest rates – but still Trump won’t be happy

Stocks soared on Friday following the strongest signal yet that US the Federal Reserve is gearing up to start cutting interest rates again this fall. But how long can this celebration last?While Wall Street cheered the biggest headline from the speech by the Fed chair, Jerome Powell, at the annual Jackson Hole symposium in Wyoming, Powell also delivered a reality check on where interest rates could settle in the longer term.“We cannot say for certain where rates will settle out over the longer run, but their neutral level may now be higher than during the 2010s,” said Powell.In other words: even if the Fed does start cutting interest rates again this year, they may not fall back to their pre-pandemic levels. It’s a signal, despite the short-term optimism on potential rate cuts, that the Fed’s long-term outlook is more unstable

Wall Street jumps after US Fed’s Powell signals possible rate cut – as it happened

US Federal Reserve chair Jerome Powell has nodded to a possible rate cut at the central bank’s September meeting.However, Powell stopped short of committing to cutting rates next months during a speech to policymakers and economists at the Fed’s annual Jackson Hole conference.He acknowledged the tight rope that policymakers have to walk at a time of potential risks for the US jobs market, while there is the possibility that inflation moves higher.Powell said:The stability of the unemployment rate and other labour market measures allows us to proceed carefully as we consider changes to our policy stance. Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance

Trump says Intel has agreed to give US government a 10% stake

The US government has taken an unprecedented 10% stake in Intel under a deal with the struggling chipmaker and is planning more such moves, according to Donald Trump and the commerce secretary, Howard Lutnick, the latest extraordinary intervention by the White House in corporate America.Lutnick wrote on X: “BIG NEWS: The United States of America now owns 10% of Intel, one of our great American technology companies. Thanks to Intel CEO @LipBuTan1 for striking a deal that’s fair to Intel and fair to the American People.”Trump met with Lip-Bu Tan on Friday and posed for a photo with Lutnick. The development follows a meeting between Tan and Trump earlier this month that was sparked by the US president’s demand for the Intel chief’s resignation over his ties to Chinese firms

Elon Musk and X reach tentative settlement with laid-off Twitter staff

Elon Musk and his social media platform, X, reached a tentative settlement on Wednesday with former Twitter employees after a years-long legal battle over severance pay. Former staff had sought $500m in a proposed class action suit against the billionaire.A court filing released on Wednesday stated that both parties had reached a settlement agreement in principle and requested that a scheduled 17 September hearing in the case be postponed while they worked to finalize a deal. The filing did not disclose any details of the tentative agreement and it is unclear what level of compensation that former employees may receive.Former Twitter employees, led by Courtney McMillian and Ronald Cooper, alleged that the company failed to appropriately pay thousands of workers severance after conducting mass layoffs

‘Pressure is a privilege’: Braxton Sorensen-McGee on being New Zealand’s youngest star

The 18-year-old is one of several prominent young Black Ferns fighting to retain the title and secure New Zealand’s seventh World CupBack in 2022, Braxton Sorensen-McGee was in the Eden Park crowd to watch the heart-stopping semi-final between France and New Zealand. The then 16-year-old, at the ground with her school team, remembers the moment of relief when a last-minute French penalty goal attempt drifted wide, allowing the Black Ferns to scrape through to the final of the Women’s World Cup. In another gripping contest against arch-rivals England, New Zealand went on to win the tournament.Now, Sorensen-McGee hopes to play a decisive role in retaining the title. After a breakout 2025, the 18-year-old is the youngest member of the Black Ferns squad, who take on Spain on Monday morning (NZT) in their opening act of the 2025 Women’s Rugby World Cup, hosted by England

England to ring changes and ‘get everyone started’, says John Mitchell

England should “get everyone started” across their 32-player Rugby World Cup squad in their opening two games, says the head coach, John Mitchell, who all but confirmed there will be a raft of changes to the Red Roses matchday XV to face Samoa next Saturday.The news came after the Red Roses’ thumping win against the USA with Emma Sing and Sarah Bern among the players not to start a match and former captain Marlie Packer among those not yet involved in a matchday squad.Those stars are now more than likely to start the game with Mitchell saying: “We have planned our teams for the early part of the tournament.“Obviously the unpredicted niggles, we have to account for that but we will get everyone started by the end of next week which has been our plan. Hopefully we are able to execute that