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• The Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, rose at an annual rate of 4.1% in May. • This figure represents the fastest pace of price increases seen in three years and aligned with economists' forecasts provided by FactSet. • The data underscores the significant challenges the central bank faces in its ongoing efforts to rein in inflation and stabilize prices.

China’s LineShine debuts at number one in Top500 – a list sometimes viewed as a national measure of global tech prowessA supercomputer in China now outranks its US counterparts as the world’s most powerful. It is the first time since 2017 that a Chinese computer has topped a list sometimes viewed as a measure of a nation’s technological prowess.The LineShine computer in Shenzhen displaced top-ranked US computer El Capitan in the Top500 rankings released on Tuesday. It was LineShine’s debut on the list. Continue reading...

Ruling lets DHS apply expedited removal to non-citizens who are living far from border A federal appeals court cleared the way on ⁠Tuesday for the Trump ⁠administration to expand ​a fast-track deportation process that would allow for the expedited removal of immigrants who are living far from the border.A panel of the US court of ⁠appeals for the District of Columbia circuit ruled 2-1 to overturn a decision by a judge who in August 2025 blocked the US Department of Homeland Security’s move to expand who ⁠qualifies for expedited removal. That expedited removal process has for nearly three decades been used to quickly return migrants apprehended ​at the border. Continue reading...

• U.S. companies and Silicon Valley firms are increasingly adopting affordable, open-source artificial intelligence models developed in China. • This trend suggests that China may be closing the technological gap with the U.S. more rapidly than previously anticipated by industry experts. • The shift matters as it challenges the perceived dominance of American AI firms and highlights the global competitiveness of Chinese open-source innovation.

• Stanford's 2026 AI Index suggests that the opportunity window for AI enterprise startups is closing more rapidly than founders anticipate. • The report identifies a critical gap in the market for practical tools focused on policy, auditing, model inventory, incident response, and workflow control. • A related study by the Stanford Digital Economy Lab using ADP payroll data reveals that employment for software developers aged 22 to 25 dropped nearly 20% through mid-2025 in AI-exposed roles.

Guardian investigation also finds same areas experienced relative decline over same periodLeave-voting areas have seen faster relative growth in foreign workers since the Brexit referendum, a Guardian investigation has found.Data analysis suggests that the decade since the Brexit vote may not have matched the expectations of many Leave supporters, showing their local areas have also become relatively more deprived over the same period. Continue reading...

• UK borrowing costs experienced the fastest decline in Europe on Wednesday following news that inflation unexpectedly remained steady at 2%. • Market indicators suggest the Bank of England is unlikely to raise interest rates until November, pushing back previous expectations of a September increase. • Suren Thiru of ICAEW notes that softer May data makes an interest rate hold during Thursday's meeting highly probable.