Nokia Shares Soar on Nvidia Deal
Nokia announced on Tuesday that chipmaker Nvidia will acquire a $1 billion stake in the company....
The Federal Reserve on Wednesday reduced its benchmark interest rate by a quarter point to a range of 4–4.25%, responding to slowing economic growth and persistently high inflation.
This marks the first rate cut by the central bank in 2025.
Chair Jerome H. Powell said the central bank remains focused on supporting maximum employment while bringing inflation back to its 2% target. He noted that economic conditions remain challenging, with inflationary pressures high and risks to employment rising.
Speaking at a press conference, Powell also revealed that the Fed is reducing its workforce by around 10%. He said that once the cuts are complete, staffing levels will return to roughly what they were a decade ago. While the central bank is open to constructive feedback on improving operations, Powell indicated there is no need for a formal review.
A majority of Fed officials now anticipate at least two further rate cuts this year, though some expressed caution over the timing and scale of additional reductions. Stephen Miran, the newest Fed governor and former economic adviser to President Donald Trump, dissented in the vote, advocating a larger cut.
The decision comes amid ongoing trade and tariff uncertainties, which continue to affect growth and consumer prices. Borrowers are unlikely to see immediate relief, but markets are closely watching for guidance on future monetary policy.
The meeting was marked by unusual circumstances, including legal disputes over Fed appointments and Miran’s Senate confirmation while on leave from The White House. Powell’s post-meeting remarks are expected to clarify the Fed’s outlook for the remainder of 2025.
The move reflects the Fed’s effort to balance economic growth with maintaining price stability in a complex financial environment.
A small, silent object from another star is cutting through the Solar System. It’s real, not a film, and one scientist thinks it might be sending a message.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
According to a YouGov poll, support for the Labour Party has fallen to a historic low of just 17%, matching that of the Conservatives.
The United States has expanded its crackdown on Chinese telecommunications companies, tightening restrictions on equipment deemed a threat to national security.
A light aircraft crash in Kenya on Wednesday (28 October) has claimed the lives of eight Hungarian and two German tourists, as well as a Kenyan pilot.
NASA’s experimental X-59 quiet supersonic jet successfully took off from U.S. Air Force Plant 42 in Palmdale, California, early on Tuesday (October 28), marking a major milestone in the future of high-speed air travel.
At least three people have reportedly died in Jamaica during preparations for Hurricane Melissa. The storm’s centre is forecast to pass near or over the island early Tuesday, bringing life-threatening winds and heavy rain.
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