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US consumer inflation unchanged but price shocks from Iran war loom

US consumer inflation unchanged but price shocks from Iran war loom

Consumer inflation in the United States remained stable at 2.4 percent in February, official data showed Wednesday, with price shocks from the US-Israel war on Iran yet to be reflected in the data. US President Donald Trump has made lowering prices a key part of his agenda, with

IEA to launch largest-ever release of oil reserves

IEA to launch largest-ever release of oil reserves

The International Energy Agency said on Wednesday its member countries would unlock 400 million barrels of oil from their reserves to ease the impact of the Middle East war, the biggest such release ever. The coordinated release was the sixth in the history of the organisation, which was created to

British fintech Revolut gets full UK banking licence

British fintech Revolut gets full UK banking licence

British fintech company Revolut on Wednesday said it had obtained a full UK banking licence from regulators, lifting restrictions on it competing with established retail lenders. "This milestone means that Revolut Bank UK... will be able to start offering accounts as a fully licensed bank for both retail and

Largest rail union backs $85 billion Union Pacific–Norfolk Southern merger

(The Center Square) – The nation’s largest rail labor union urged members of Congress to support a proposed $85 billion merger between Union Pacific and Norfolk Southern that would create the first coast-to-coast freight railroad in the United States. The International Association of Sheet Metal, Air, Rail and

Inflation remains at 2.4%, Iran war could complicate gas prices

(The Center Square) - Inflation rose 0.3% in February for an overall average of 2.4% over the last 12 months, the same rate as in January. The price of shelter rose by 0.2% in February alongside a 0.4% increase in the price of food. The index for

Cathay says surcharge to rise as fuel prices jump during Mideast war

Cathay says surcharge to rise as fuel prices jump during Mideast war

Hong Kong aviation giant Cathay Pacific said on Wednesday that fuel surcharges would rise after prices soared in March with the outbreak of war in the Middle East. The price of fuel so far this month is double the average of the previous two months, CEO Ronald Lam said at

Airlines in Asia hike fares as Mideast war raises fuel costs

Airlines in Asia hike fares as Mideast war raises fuel costs

Airlines in the Asia-Pacific region, including Qantas, Air India and Cathay Pacific, have hiked fares -- or will soon -- to factor in surging jet fuel prices spurred by war in the Mideast. The average world price of aviation fuel reached $173.91 a barrel on Monday, according to the benchmark