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A view of the Consumer Financial Protection Bureau headquarters in Washington. Saul Loeb | Afp | Getty ImagesA massive tax and spending law that President Donald Trump signed last week slashes the Consumer Financial Protection Bureau’s annual budget — and critics of the move say they fear it may lead to less oversight of financial firms and bring more harm to consumers.”There’s no way to paint a positive picture about it,” said Adam Rust, director of financial services at the Consumer Federation of America, a consumer advocacy group.The CFPB was created in the wake of the 2008 financial crisis to…

LONDON: India expect England to roll out a challenging track for the third Test at Lord’s but are confident their in-form batters can master it, batting coach Sitanshu Kotak said on Tuesday. India levelled the five-Test series 1-1 with a thumping 336-run victory at Edgbaston where they racked up 587 in the first innings and declared their second on 427-6. England are pondering overhauling their tired bowling attack and a fit-again Jofra Archer is in line to play his first Test in more than four years at Lord’s. “It will be a challenge if Jofra comes in,” Kotak told reporters…

Apple is in talks to acquire the US broadcast rights to screen Formula 1 when the contract becomes available next year, the Financial Times reported on Wednesday, following the success of Brad Pitt-starrer F1: The Movie. The report follows the strong box office performance of Apple’s high-octane racing film F1: The Movie, which has grossed $293 million in its first 10 days, according to Variety and other outlets. The iPhone maker is challenging current US broadcaster ESPN, owned by Disney, for the Formula 1 rights next year, the FT report said, citing sources familiar with the matter. Reuters could not…

MADRID: Liverpool and Portugal star Diogo Jota was likely speeding when his car veered off a motorway in Spain last week killing him and his brother, Spanish police said on Tuesday. The shock deaths of Jota, 28, and Andre Silva, 25, on July 3 plunged the football world into mourning, less than two weeks after the striker had got married. An ongoing investigation is examining “the marks left by one of the vehicle’s wheels… everything points to a possible excessive speed beyond the road’s speed limit”, the Civil Guard said. “All the tests conducted so far indicate that the driver…

LONDON: Wimbledon’s controversial line technology system malfunctioned again as Taylor Fritz beat Karen Khachanov to reach his first Wimbledon semi-final, while world number one Aryna Sabalenka survived a scare to make the last four on Tuesday. Swedish umpire Louise Azemar Engzell had to stop a point in the opening game of the fourth set on Court One when “fault” was incorrectly called after a Fritz forehand landed well inside the baseline. The call of “fault”, rather than “out”, and positioning of the ball suggested the system was still tracking Fritz’s serve as opposed to a rally and the point had…

LAHORE: The Pakistan selectors on Tuesday anno­unced a 15-member squad for the upcoming three-match T20 International series against Bangladesh, with five frontline players including former captains Babar Azam, Mohammad Rizwan and Shaheen Shah Afr­idi omitted for a second series in a row, while two uncapped pacers were called up. Vice-captain Shadab Khan and fast bowler Haris Rauf were also ruled out due to fitness issues. Shadab is recovering from shoulder surgery in England, while Haris sustained a hamstring injury during a T20 league match in the United States last week. Babar, Rizwan, and Shaheen were left out again as the…

London CNN  —  Today was supposed to be the day that President Donald Trump’s so-called “reciprocal” tariffs on dozens of countries kicked in after a three-month delay, absent trade deals. But their introduction has been postponed, again. The new, August 1 deadline prolongs uncertainty for businesses but also gives America’s trading partners more time to strike trade deals with the United States, avoiding the hefty levies. Mainstream economists would probably cheer that outcome. Most have long disliked tariffs and can point to research showing they harm the countries that impose them, including the workers and consumers in those economies. And…

The “one big beautiful” tax-and-spending package President Donald Trump signed on Friday included several significant changes for higher education — among them, an increased tax on the endowment income of the nation’s top colleges.Instead of the existing flat 1.4% tax rate, there is now a new multi-tiered rate of up to 8%, with larger endowments subject to the highest rate. (Schools with fewer than 3,000 tuition-paying students are exempt, regardless of their endowment size.)The Joint Committee on Taxation estimates this endowment tax will bring in $761 million over 10 years. Higher education experts say the new, higher tax rates could lead to…

New York CNN  —  President Donald Trump is threatening to revive his trade war. Wall Street isn’t too concerned. Global markets were relatively calm Tuesday after Trump on Monday ratcheted up his tariff campaign — but extended the deadline to August 1 and said he was open to negotiations. That provided a sense of optimism for investors. Stocks across Asia — including in Tokyo, Seoul, Hong Kong and Bombay — opened higher on Tuesday. US stocks opened mostly higher: The Dow fell 57 points, or 0.13%. The S&P 500 rose 0.05% and the tech-heavy Nasdaq gained 0.3%. Market movements were…

Americans are saving more money — and for some, the change in habit comes down to how they feel about the economy.More than 4 out of 10 Americans, or 44%, say they’ve engaged in so-called vibe-based budgeting, according to a new survey by Intuit Credit Karma. In other words, they have adjusted their financial habits based on their feelings about the economy, regardless of whether their financial situation has changed.Younger generations are more likely to say they’ve tried vibe-based budgeting, with 56% of Gen Z and 57% of millennials surveyed.Intuit Credit Karma polled 1,058 adults online from June 13 to…