Bank of England holds interest rates at 3.75% as inflation fears mount

• Pakistan has gained international recognition for its recent diplomatic efforts, specifically for facilitating pauses in the conflict between the United States and Iran. • Simultaneously, China has transitioned from a manufacturer of low-cost imitation goods to a global leader in high-tech innovation, particularly in AI and robotics.

• The United States has resumed exchanging military strikes with Iran, marking a sudden escalation in tensions. • This development follows a Tuesday interview with Fox News where President Trump appeared to hesitate over the humanitarian costs of targeting Iranian infrastructure, such as power plants and bridges.

• A joint study by UNESCO and the Economic Commission for Latin America and the Caribbean reveals that the region will have 38.3 million fewer school-age children by 2050. • The report highlights a significant demographic shift and recommends integrating data on births, migration, enrollment, and location to better manage educational resources.

European Forest Fire Information Service figures show conditions in EU 43% more severe than for same period in last 20 years Fire weather in the EU has broken records for severity for this time of year, new data shows, as firefighters race to extinguish blazes across the Mediterranean.Inflamed by carbon pollution, the hot, dry and windy weather across the EU since the start of the year has been 43% more severe than the end-of-July average over the last two decades, data from the European Forest Fire Information Service (Effis) shows. Continue reading...

Trump administration boasts of cutting $1.73bn already allocated for cycling improvements to city streetsSign up for the Breaking News US newsletter email The Trump administration’s plans to stymie and defund bike lane plans in the US, on the unusual basis that they are DEI tools, will hurt efforts to improve roadway safety, non-motorized transportation advocates say.The transportation secretary, Sean Duffy, posted on X this month that he had redirected $1.73bn allocated for “Biden-era DEI pet projects” to “America’s actual backbone: ROADS, BRIDGES, AND SHIPPING PORTS”. Continue reading...

With his popularity at historic lows, Friedrich Merz seeks spiritual guidance from Pope Leo’s encyclical on AIEurope live – latest updatesSummer is normally thought of as the time for pacy potboilers and brain-soothing pageturners – airport reads that wind up sandy and sunscreen-stained. Not so for Friedrich Merz’s holiday reading list.Germany’s embattled chancellor, who has faced one rough patch after another since taking office 14 months ago, seems to be seeking spiritual guidance this year while putting his feet up. Continue reading...

Roadside safety advocates say some automated license plate readers may not meet highway safety standardsFlock Safety cameras have been pilloried for facilitating the AI-powered surveillance of private citizens and for targeting immigrants for years. But now safety advocates are also claiming that their physical location can pose potential roadside hazards.At the bottom of a tree-lined hill on a narrow, two lane rural road in Greene county, Ohio, stands a black metal rod with a camera and solar panel attached at the top. Continue reading...

Shares in Rolls-Royce jump by 5.5% after it lifts earnings guidance, while BAE Systems also upgrades profit forecastsBusiness live – latest updatesRolls-Royce and BAE Systems are expecting higher profits as governments around the world boost their defence spending.Both companies lifted their earnings guidance on Thursday morning, citing commitments from governments to increase investment in defence systems. Continue reading...

The Federal Reserve voted to hold its key interest rate steady, sending stocks tumbling, as US claimed to hit ‘dozens’ of Iranian targets. Plus the origins of Coca-Cola may have been found … in ItalyGood morning. US government borrowing costs have hit their highest level since 2007 after the Federal Reserve voted to hold its key interest rate steady, feeding fears that the central bank may not move fast enough to tame a rise in inflation. Kevin Warsh, the Fed chair, said the bank would “not waver” in its commitment to tackling rising prices.The decision to leave rates on hold has spooked investors, who are worried about the US economy’s ability to absorb a rise inflation, triggered by Donald Trump’s war in Iran. US inflation cooled to an annual rate of 3.5% in June after Washington and Tehran agreed a brief ceasefire – but this has since ended. US stocks fell sharply on Wednesday, with the blue chip S&P 500 index closing down 1.5%. The Dow Jones industrial average fell 2.2% and the tech-heavy Nasdaq was down 1.7%. Continue reading...

The book, Antiquities of Athens, was handed back to Kiama library by a man who found it bricked into a wallAn Australian public library has had a book returned an estimated 150 years late after being found behind a wall during a home renovation.The book, Antiquities of Athens, published in 1858, was returned to the library in the seaside town of Kiama, south of Sydney, by a man who had found it inside a tea crate bricked into a sealed fireplace Continue reading...

Americans are facing a deepening affordability crisis but at least Trump and co have ... 250 new Cadillac EscaladesThis was originally published in This Week in Trumpland. Sign up to receive it in your inbox every WednesdayGas prices are up almost a dollar a gallon since the day Donald Trump took office; mortgage rates just hit their highest level in nearly a year, and over the weekend a prominent economist said the Iran war is costing the average US household more than $1,200.Americans are struggling through a deepening affordability crisis caused largely by Trump’s ill-fated war against Iran. They are in need of a boost, something to lift the spirits. Perhaps the president could give a speech, letting the people know that we are all in this together. Continue reading...