The US Federal Reserve cut interest rates on Wednesday amid questions over its fight to bring down inflation across the world’s largest economy. Policymakers at the central bank lowered the benchmark federal funds rate by a quarter of a percentage point to a range of between 4.25% and 4.5% in its last rate decision before…

Tim Kitchen | The Image Bank | Getty Images There may not be a lot of homes for sale these days, but there is a lot of housing space sitting empty. In fact, the most in recorded history. The number of extra bedrooms, which is defined as a bedroom in excess of the number of…

The US supreme court said on Wednesday that it would hear TikTok’s challenge to a law that could make the company’s popular video app disappear from the US. In its order on Wednesday, the supreme court said it would set aside two hours for oral arguments on 10 January to consider TikTok’s lawsuit against the…

Until recently, the plan at crisis-hit Nissan was to muddle through somehow. About 9,000 job losses were announced last month out of a global workforce of 130,000. Production capacity was cut by 20%. There was some muttering about seeking a new anchor investor because the troubled 25-year alliance with Renault of France was heading up…

2025 Ram 1500 Ramcharger Tungsten Ram DETROIT — Stellantis said Wednesday it will further delay an all-electric Ram pickup from 2025 until 2026, as the automaker confronts slower-than-expected adoption of EVs and competitors struggle to make profits on electric trucks. The decision to delay the full battery-electric model, which had already been postponed from this…

The Biden administration granted two requests from California to enforce strict standards for vehicle emissions, including a rule aimed at banning sales of new gas-powered cars by 2035 in a move that Donald Trump is expected to roll back immediately. The Environmental Protection Agency said it would grant California’s request for the waivers to allow…

Keir Starmer says that 90% of women knew of pension changes in response to a question from Diane Abbott about the decision not to compensate Waspi women. The government accepted the parliamentary and health service ombudsman’s findings earlier this year that pension changes had not been communicated adequately, but rejected its recommendation for a flat-rate…

Exterior view of the entrance to Merck headquarters on February 05, 2024 in Rahway, New Jersey. Spencer Platt | Getty Images Merck on Wednesday said it has snagged the rights to an experimental weight loss pill from Chinese drugmaker Hansoh Pharma, in a deal worth up to $2 billion. The oral drug has not yet…

A new gallery looks back at some of the strike action covered by Jane Bown over the last 60 years. The series has been selected from the Jane Bown archive and the book Jane Bown: A Lifetime of Looking, edited by Luke Dodd. The book celebrates the late Observer photographer’s powerful reportage work, revealing the…

The low-cost footwear retailer Shoe Zone has blamed extra costs resulting from changes to wages and national insurance contributions (NICs) in October’s budget and weakening consumer confidence for its decision to close stores. Shoe Zone said it had experienced “very challenging trading conditions” between the start of October and the middle of December because of…