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D3sign | Moment | Getty ImagesThe U.S. economy is still in a “strong position” despite “heightened uncertainty,” according to the Federal Reserve’s latest assessment.Yet there’s a looming economic risk the U.S. hasn’t meaningfully faced for decades — stagflation.”The risks of higher unemployment and higher inflation appear to have risen,” Federal Reserve Chairman Jerome Powell said on May 7.Those two factors — along with slower economic growth — are the definition of stagflation.Stagflation is not here yet. The unemployment rate is low and inflation has come down, though it is still higher than the Fed’s 2% target, Powell noted last week.…

Pakistani all-rounder Shoaib Malik announced his resignation from the role of Domestic Cricket Mentor today through a social media post on X. He submitted his formal resignation to the Pakistan Cricket Board two weeks ago, saying he believed it was “time to move on” to ensure fairness and pay attention to multiple personal and professional responsibilities in his life. “This was not an easy choice, but after reflecting on my commitments, I realised that juggling multiple responsibilities would prevent me from giving my best — both to Pakistan cricket and to my other professional and personal priorities,” he wrote in…

D3sign | Moment | Getty ImagesSigns of strain: Grocery debt, food pantry visitsHigher food costs have influenced how many consumers pay for groceries, and how well they are able to keep up with other bills.”You can’t avoid needing to buy food, needing to buy groceries,” said Kimberly Palmer, a personal finance expert at NerdWallet.From February 2022 to August 2024, as food prices swelled, credit card delinquencies increased 39.8%, according to a recent report by the Urban Institute. In 2023, the research firm found that about a quarter of adults paid for groceries on a credit card and took on debt…

CNN  —  US inflation slowed to its lowest rate in more than four years, an unexpected and welcome development at a time when President Donald Trump’s dramatically escalated tariffs are expected to cause prices to rise. Consumer prices rose 0.2% last month, bringing the annual inflation rate to 2.3%, an unexpectedly cooler reading than the 2.4% increase seen in March, according to the latest Consumer Price Index data released Tuesday by the Bureau of Labor Statistics. It’s the lowest annual rate since February 2021. However, what’s been a yearslong unwinding of post-pandemic inflation isn’t expected to last. “The larger tariff-related…

LONDON: Tottenham Hotspur manager Ange Postecoglou believes beating Manchester United in next week’s Europa League final would break the cycle of under-achievement and mark a turning point in the history of the north London club. Postecoglou is in the strange position of leading the club to their worst ever Premier League campaign yet being one win away from ending the a 17-year trophy drought. The Australian’s future has been the source of constant speculation this season and Sunday’s 2-0 home defeat by Crystal Palace was their 20th league loss, leaving them in 17th place. Next Wednesday in Bilbao, however, victory…

ROME: Jannik Sinner cruised into the last 16 of the Italian Open on Monday after comfortably beating lucky loser Jesper de Jong 6-4, 6-2 in front of a delighted crowd in Rome. World number one Sinner continued his Foro Italico comeback from a three-month doping ban by dealing with De Jong and setting up a clash with Argentina’s Francisco Cerundolo — who defeated Sebastian Ofner 6-2, 6-4 — in the next round. Sinner was knocked out in the last 16 by Cerundolo the last time he played here, in 2023, and he is under no illusions that the 17th seed…

Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi on Tuesday announced that the remaining eight matches of the HBL Pakistan Super League (PSL) — postponed due to the conflict with India — would resume from May 17, with the final scheduled for May 25. The PSL was first moved to the UAE and subsequently postponed after an Indian drone crashed close to the Rawalpindi Cricket Stadium last week. In a post on X today, Naqvi stated that the league will pick up from where it left. “Let the aura take over as we unite and celebrate the spirit of cricket,” he…

• PCB to make a decision after franchises’ report• Organisers plan remaining eight matches from May 17 to 25 LAHORE: The Pakistan Cricket Board (PCB) is aiming to hold the remaining eight matches of the Pakistan Super League — postponed due to the conflict with India — from May 17 provided foreign players return to the country. The six franchises have reached out to players, who were flown from the country on a charter flight over the weekend as the cross-border skirmishes with India intensified last week, to return after a ceasefire agreement was reached. “The franchises are in negotiations…

A Fidelity Investments branch.Nicholas Pfosi | The Boston Globe | Getty ImagesSome Fidelity Investments customers experienced login issues Monday morning as the market rallied.More than 3,000 user complaints were reported around 10 a.m., according to Downdetector, a website that tracks outages. About 79% of the reports were login issues, 12% were website-related issues and 9% were online brokerage related, per the site.The Fidelity login issues occurred as major stock indices spiked on the news that China and the U.S. had agreed to temporary tariff cuts. The Dow Jones Industrial Average surged 1,136 points, or 2.7%, by mid-afternoon. The S&P 500 is up nearly 3%…

A cargo ship moors at the container terminal berth of Lianyungang Port for loading and unloading containers in Lianyungang City, Jiangsu Province, China, on May 9, 2025.Nurphoto | Nurphoto | Getty ImagesThe tariff rate the U.S. puts on imports remains higher than any point since the 1930s, despite trade deals struck with China and the United Kingdom in recent days, according to a Yale Budget Lab report issued Monday.The total U.S. average effective tariff rate is 17.8% — the highest since 1934 — even after accounting for these policy changes, according to the Yale Budget Lab.That is equivalent to an…