UNITED KINGDOM

Jerome Powell says inflationary impact of the president’s trade policies needs to be assessed before borrowing costs can be reducedThe chair of the Federal Reserve, Jerome Powell, has blamed Donald Trump’s tariffs for preventing the immediate interest rate cuts the president has demanded.Trump has repeatedly urged Powell to reduce borrowing costs in the US economy. He posted a hand-scrawled note on his Truth Social platform on Monday, saying: “You have cost the USA a fortune – and continue to do so – you should lower the rate by a lot!” Continue reading... Source link : https://www.theguardian.com/us-news/2025/jul/01/federal-reserve-chair-blames-trump-tariffs-for-preventing-interest-rates-cut Author : Heather Stewart

MPs begin debate on universal credit and Pip bill as Lindsay Hoyle says he has selected amendment tabled by Rachael MaskellCompass, the leftwing group urging Labour to be more pluralistic, has put out a statement condemning the UC and Pip bill. Its director, Neal Lawson, said:If your own friends are telling you to put the brakes on, then something has clearly gone wrong. Despite the government’s line, this legislation does not advance Labour values. It is fundamentally at odds with them, and with the views of the mainstream of the party and civil society.”MPs from across the House, and especially

Public health warnings as heatwave raises concerns about impact of climate changeWhat you need to know about heatwavesThe French prime minister François Bayrou, who attended a government crisis meeting over the heatwave, was asked about the great difficulty of French schools to handle the heatwave.More than 1,350 schools across France were fully or partially closed on Tuesday as classrooms proved dangerously hot for children and teachers, amid anger from teaching unions. Continue reading... Source link : https://www.theguardian.com/world/live/2025/jul/01/europe-heatwave-weather-hot-temperature-climate-change-latest-live-news-updates Author : Jakub Krupa Publish date : 2025-07-01 10:23:00 Copyright for syndicated content belongs to the linked Source.

Massive tax-and-spending bill is critical to US president’s agenda but faces division and splitsThe Senate bill includes $4.5tn in tax cuts, according to the latest analysis from the congressional budget office, making permanent Trump’s 2017 rates, which would expire at the end of the year if Congress fails to act.The Senate package would roll back billions of dollars in green energy tax credits, which Democrats warn will wipe out wind and solar investments nationwide.It would impose $1.2tn in cuts, largely to Medicaid and food stamps, by imposing stricter work requirements, making sign-up eligibility more stringent and changing federal reimbursements to