Francesca McGhie bags hat-trick as Scotland demolish Wales at Women’s Rugby World Cup
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
Julia Schell scores six tries as Canada thrash Fiji in Women’s Rugby World Cup
Canada are quietly going about their business as the dark horses of this Rugby World Cup with eyes firmly on the hosts, England, and the defending champions, New Zealand. The team may benefit from flying under the radar with less pressure on their shoulders but it does not make them any less a contender for the trophy. The clinical nature of their opener against Fiji announced their arrival in England in style, particularly through the full-back Julia Schell who was spectacular in the second half as she scored six tries in 21 minutes.Schell’s performance may have inspired girls to pick up a rugby ball but she is used to trying to make change. She grew up playing ice hockey and petitioned at elementary school for women to be able to do open-ice hitting as it was banned
South Africa 30-22 Australia: 2025 Rugby Championship Test – live
The report is in so I’ll get out of here.Thanks all. Well done to the Boks and Handre Pollard for edging that one.Overall I’d give the series to Australia who were magnificent last week and perhaps unlucky here in Cape Town.They’ll fancy themselves for the rest of the Rugby Championship
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