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Jay Powell, the chair of the Federal Reserve, said the US central bank was ready to intervene if inflation spiralled out of control, but stressed that he expected price increases to ease later in the year. “Inflation has increased notably and will likely remain elevated in coming months before moderating,” Powell said in prepared remarks
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As South Africa’s worst public violence in decades swept Johannesburg and its biggest township this week, Nhlanhla Lux was ready to defend the shopping centre he called Soweto’s “last elephant” with his life. Clad in camouflage and armed with a pistol, the 33-year-old community leader guarded the closed gates of Soweto’s Maponya mall with a
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Ohio University has announced a series of scholarship and prize giveaways for vaccinated students, while the state prepares to revive its multi-million-dollar lottery scheme to boost vaccination coverage. Fully vaccinated students who sign up for the college’s “vaccination pathway” programme, which exempts them from having to take a weekly asymptomatic Covid-19 test, will be eligible
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The private capital industry has grown to more than $7tn thanks to demand for higher-returning but pricey and opaque strategies, spurring the likes of Schroders and JPMorgan to launch new divisions and sending others on the prowl for acquisitions.  Although still dwarfed by the traditional asset management industry — which primarily invests in mainstream, public
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The Biden administration is considering an investigation into whether imports of rare earth magnets made largely in China pose a national security threat that could warrant the imposition of tariffs. The White House said the commerce department would examine whether to probe neodymium magnets, which are used to manufacture everything from smartphones to electric vehicle
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Narendra Modi, Indian prime minister, has announced that his government will offer Covid-19 vaccines to all citizens for free, reversing a much-derided policy requiring India’s states to buy their own jabs at higher prices. India, the world’s largest vaccine manufacturer, has for weeks been battling a severe shortage of jabs. Thousands of British tourists are
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Biogen’s decision to price its newly approved Alzheimer’s treatment at $56,000-a-year has reignited the debate over the high cost of drugs in the US, the world’s largest and most profitable healthcare market. Shortly after securing US approval on Monday for the first new Alzheimer’s medicine in almost two decades, the Massachusetts-based biotech group announced a
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