Author: Press Room

President Biden attempted to shift blame away from his administration for the state of consumer prices on Monday after admitting they were “still too high.”His comments came during a speech on the supply chain issues facing the U.S. after days of his administration taking a victory lap for lower Thanksgiving meal prices, as a percentage, stemming largely from higher household earnings rather than an actual large scale reduction in the cost of groceries.”Wages for working families have gone up while inflation has come down 65%, giving families a little more money in their pockets, a little more breathing room this…

In this photo illustration a Best Buy logo seen displayed on a smartphone with the stock market … [+] information of Best Buy in the background. (Photo Illustration by Thiago Prudêncio/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images Taylor Swift is killing it. The pop music sensation is extending her brand beyond music to movies and fun experiences. Retailers call this funflation, and they worry consumers will curtail spending on the stuff they sell. Investors should avoid electronics retailers like Best Buy BBY (BBY). Taylor Swift transcends boundaries in ways few artists have been capable. Her concerts routinely sell…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Around the world, travellers check in at airport kiosks, drop off their bags and get through boarding gates, all without the help of staff, said Do Dieu Huyen. Why is this self-service routine not in Vietnam?Huyen is helping to change that as an operation specialist at the state-owned Airports Corporation of Vietnam. Technological facelifts are just one part of the national plan to construct or upgrade airports across the country. The strategy: if we build, tourists will come and so will trade.A…

© Reuters. A general view of Two International Finance Centre (IFC), HSBC headquarters and Bank of China in Hong Kong, China July 13, 2021. REUTERS/Tyrone Siu/File Photo HONG KONG (Reuters) – Hong Kong private home prices extended a fall in October, dipping to their lowest since March 2017, official data showed on Tuesday, weighed down by higher interest rates and weak buying sentiment. Home prices in the financial hub, one of the most expensive markets in the world, dropped 2.2% in October from the previous month. It followed a revised 2.4% fall in September, according to the data. Prices have…

© Reuters. GHANA – Access Bank Ghana Plc has demonstrated a robust financial performance for the third quarter, with profits after tax soaring by nearly 50% to GHS 455,633. The bank’s earnings per share have also seen a significant increase, more than doubling from the previous year’s figures. This growth has been attributed to a rise in fees and commissions, which has offset a minor decline in net interest income. In a detailed financial report released Monday, the bank highlighted its operating income which surged by over a third to GHS 1 million. This upswing is underpinned by a notable expansion…

© Reuters. Investing.com– Oil prices rose in Asian trade on Tuesday as media reports suggested that the OPEC+ planned to extend or even deepen its ongoing production cuts at a meeting later this week.  Anticipation of a swathe of economic readings due this week also kept traders largely to the sidelines, limiting any major gains. Reuters reported that the Organization of Petroleum Exporting Countries and allies (OPEC+) intended to collectively reduce output at a meeting this Thursday, as concerns over sluggish demand saw oil prices once again struggling to hold above $80 a barrel.  A delay in the upcoming OPEC+…

designer491 Acelyrin (NASDAQ:SLRN) said it is conducting a review of its Phase2/3 clinical trial for its drug izokibep in the treatment of psoriatic arthritis due to dose sequencing errors linked to a vendor working on the study. In particular, Acelyrin said that a vendor engaged by the clinical research organization, or CRO, conducting the study incorrectly programmed the trial’s protocol, which resulted in some patients receiving placebo and active treatment dosing in random order rather than an alternating pattern. The dosing errors occurred in two arms of the four-arm study. Acelyrin said was no risk to patient safety due to…

The Supreme Court ruled on Monday that two Arizona lawmakers must testify about their reasons for supporting state laws requiring proof of citizenship for voting in federal elections.The court’s brief order gave no reasons, which is typical when the justices act on emergency applications. No dissents were noted.The Justice Department, the Democratic National Committee, civil rights groups and others had challenged the state laws, saying they violated federal laws and had been enacted with a discriminatory purpose.After Arizona’s attorney general, Kris Mayes, a Democrat, declined to defend aspects of the laws, Ben Toma, the speaker of the Arizona House of…

Australian researchers believe a shipwreck off the coast of Rhode Island is that of the HMS Endeavor.The Australian National Maritime Museum said Thursday new discoveries allowed them to identify the wreck.Previously, their claim was contested by their research partner, The Rhode Island Maritime Archeology Project. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app An Australian museum is doubling down on its previously contested claim that a shipwreck off the coast of Rhode Island is the long-lost ship once sailed by British explorer and cartographer…

Stay informed with free updatesSimply sign up to the UK inflation myFT Digest — delivered directly to your inbox.UK shop inflation eased to the lowest rate in more than a year in November as competition increased in the run-up to Christmas and food cost growth continued to fall, according to industry data.The British Retail Consortium said on Tuesday that annual shop price inflation slowed to 4.3 per cent from 5.2 per cent in October, the sixth consecutive monthly decline and the lowest rate since June last year.The BRC shop price index, which provides an early indication of pricing pressures ahead…