Federal Reserve cuts interest rates by a quarter point, for first time in nearly a year – live updates

The Fed just announced an interest rate cut by a quarter point, which was largely anticipated amid a weakening labor market.This is the first time the Fed has cut rates since December 2024. Rates now stand at a range of 4% to 4.25%, the lowest since November 2022.Stay tuned for a press conference Fed chair Jerome Powell is expected to give at 2

Federal Reserve cuts US interest rates for first time since December

The US Federal Reserve cut interest rates on Wednesday, its first rate cut since December, as the central bank moved to stabilize a wobbling labor market even as Donald Trump’s tariffs continue to push up prices.Rates are now at a range of 4% to 4.25% – the lowest since November 2022. But the decision is unlikely to satisfy Trump, who has lambasted the Fed for acting “too late” and called for a far bigger cut.“Job gains have slowed and the downside risks to unemployment have risen,” Fed chair Jerome Powell said during a closely watched press conference

Google DeepMind claims ‘historic’ AI breakthrough in problem solving

Google DeepMind claims it has made a “historic” artificial intelligence breakthrough akin to the Deep Blue computer defeating Garry Kasparov at chess in 1997 and an AI beating a human Go champion in 2016.A version of the company’s Gemini 2.5 AI model solved a complex real-world problem that stumped human computer programmers to become the first AI model to win a gold medal at an international programming competition held earlier this month in Azerbaijan.In a performance that the tech company called a “profound leap in abstract problem-solving”, it took less than half an hour to work out how to weigh up an infinite number of possibilities in order to send a liquid through a network of ducts to a set of interconnected reservoirs. The goal was to distribute it as quickly as possible

What is new in UK-US tech deal and what will it mean for the British economy?

Donald Trump’s arrival in the UK on Tuesday night was accompanied by a multibillion-dollar transatlantic tech agreement.The announcement features some of the biggest names from Silicon Valley: the chipmaker Nvidia; the ChatGPT developer, OpenAI; and Microsoft. Big numbers were involved, with Microsoft hailing its $30bn (£22bn) investment as a major commitment to the UK – and adding, in an apparent swipe at its rivals, that it was not making “empty tech promises”.Here is a breakdown of the announcements in the UK-US “tech prosperity deal”, spelling out what is explicitly new in them.Microsoft’s president, Brad Smith, hailed the “single biggest announcement” in the pact and insisted it was not an empty promise

Surrey require 249 to beat Notts in title battle: county cricket, day three – as it happened

Rain and bad light stalked The Oval as Nottinghamshire and Surrey inched towards a denouement. There was time for Notts to add another 37 runs for the last two wickets, including a corking straight drive for four from Josh Tongue. On the next ball, though, he edged behind to Matt Fisher, who finished with 11 wickets in the match. Brett Hutton was left unbeaten on an invaluable 42 for the visitors.Set 315 to win, Rory Burns and Dom Sibley clinked down the pavilion steps, applauded by Surrey supporters sitting through the gloom

England beat Ireland by four wickets first men’s T20 international – as it happened

That’s your lot. I’ll leave you with Taha Hashim’s report. Bye!The player of the match is Phil SaltI enjoyed that. It was a pretty good wicket and it’s a good ground to bat on when you get going. Yeah