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Bessent told CNBC on Tuesday the US would “do whatever it takes to support them in a way that helps the American economy, the American taxpayer,” and both governments said they would not hesitate to act again.   US President Donald Trump, speaking to reporters aboard Air Force One on Sunday, framed the move as a gesture of…

New Jersey-based Indian restaurant Samudhra is establishing a presence across the Hudson River in Hell’s Kitchen. The eatery signed a 10,000-square-foot lease on the ground level of the Ellery at 312 West 43rd Street, owned by Taconic Partners and National Real Estate Advisors, for its second location in the U.S. following its first restaurant in…

The widening gap between income and spending The lowest 20% of earners saw spending rise 27% between 2021 and 2025, against disposable income growth of just 3%. The middle 60% of households — the traditional engine of the Canadian consumer economy — found that income covered just 57 cents of every new dollar they spent….

Last week ended with a major event, the Fed’s annual Jackson Hole conference. The conference arrived amid a confluence of factors, from new Fed Chair Warsh’s new approach to Fed signaling to the war in Iran and, most importantly, the specter of inflation. With the Fed looking more closely at the Fed rate situation amid…

Andrew Grantham, senior economist at CIBC in Toronto, attributed the modest acceleration in core inflation excluding food and energy, which reached 1.8% annually, partly to World Cup demand. “We continue to see the Bank of Canada holding its overnight rate steady for the remainder of this year,” Grantham wrote, “even if headline inflation reaccelerates slightly in the…