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Wall Street climbed sharply after fresh inflation data came in below expectations, easing fears that the Federal Reserve may need to raise rates again in October. The softer reading on the Personal Consumption Expenditures price index helped lift growth-sensitive technology shares, with Apple and Alphabet among the notable gainers.
The U.S. economy expanded at a 2.2% annual pace in the second quarter, the government said Thursday, revising up its earlier estimate and signaling that consumer demand remained more resilient than first reported. The upgrade adds to evidence that growth and inflation are cooling only gradually, a combination that could keep the Federal Reserve cautious on interest-rate cuts.
The US dollar weakened against major currencies after fresh inflation data came in below economists’ expectations, reinforcing bets that the Federal Reserve may have less urgency to keep policy tight. The Commerce Department said the Personal Consumption Expenditures Price Index rose 0.3% last month, short of the 0.4% forecast, prompting a drop in US Treasury yields and a reassessment of the rate outlook.
The India Meteorological Department has warned of extremely severe rainfall over Coastal Andhra Pradesh as a cyclonic system in the Bay of Bengal continues to draw close attention from forecasters and disaster managers. While the eventual landfall time and exact point remain uncertain, the risk profile has widened across the east coast, with very heavy rain also likely in parts of Tamil Nadu, Kerala, South Interior Karnataka and Lakshadweep.
The Karnataka Chamber of Commerce and Industry has called on the State government to accelerate the development of the Dharwad Industrial Node, a key project under the Bengaluru-Mumbai Industrial Corridor. The chamber said a time-bound execution plan is essential to attract investment, strengthen manufacturing capacity and create employment in north Karnataka.
The India Meteorological Department has indicated that a low-pressure area over the Bay of Bengal is likely to strengthen into a deep depression by Sunday and may intensify into a cyclonic storm over the west-central Bay by Monday morning. Coastal Andhra Pradesh and Odisha are on heightened alert as authorities monitor the system’s track, intensity, and potential rainfall impact.
The India Meteorological Department said the heavy rain belt linked to a vigorous northeast monsoon may shift from Tamil Nadu toward Kerala and parts of Karnataka this week, after Saturday brought extremely heavy rainfall to Tamil Nadu and heavy showers across several adjoining southern states. The evolving pattern raises fresh concerns for urban flooding, transport disruption and crop damage across the southern peninsula.
Two Twin Cities businesses, a sports bar and a credit union, have been found liable for discrimination after allegedly refusing to accept valid tribal identification cards from Native American customers, according to Minnesota officials and local reporting. The case underscores a broader compliance risk for businesses that rely on narrow ID policies and may face legal exposure when those rules conflict with state anti-discrimination protections.
Pune Police have booked Roppen Transportation Services Pvt Ltd, the parent company of ride-hailing platform Rapido, over allegations that it operated bike-taxi services without the required licence. The case adds fresh regulatory pressure on one of India’s most visible mobility startups, at a time when the bike-taxi model remains under scrutiny across several states.
The U.S. Department of Justice has sued a San Diego-area ticket broker firm, alleging it used thousands of accounts and technical workarounds to buy and resell millions of tickets for major tours, including Beyoncé and Post Malone, in violation of federal rules. Prosecutors say the operation generated roughly $120 million in illicit profits and exposed how industrial-scale ticket resale can distort access, pricing, and market integrity.
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