USA

Intellect Design Arena Ltd, a global leader in financial technology, has officially introduced its AI platform, Purple Fabric, to the U.S. market. Developed by its AI division, IntellectAI, Purple Fabric is positioned as the first open platform specifically built to deliver measurable business impact through AI within the financial services sector. Already in use by Tier 1 financial institutions across the UK and Indian Subcontinent, the U.S. launch marks a major expansion into one of the world’s most mature financial ecosystems. The platform has been adopted by over 45 clients globally and is designed to help American banks and insurers transition from fragmented AI pilots to fully integrated enterprise deployments. The announcement was made during Ai4 2025, North America’s pre...

A weak jobs report in recent days raised alarm among some analysts that the U.S. economy may be slipping toward a recession. Hiring slowed sharply over the summer, federal government data showed. The jobs report came days after fresh gross domestic product data indicated average annualized growth of 1.2% over the first half of 2025, well below 2.8% growth last year. Analysts who spoke to ABC News said the economy could dip into a downturn but the outlook remains uncertain. They differed sharply on the likelihood of a recession, ranging from dire warnings to skepticism about whether the recent data suggests significant cause for concern. "It's too early to see whether this is a trend," Harry Holzer, a professor of economics at Georgetown University and a fellow at the Brooking...

Trump’s firing of the head of the Bureau of Labor Statistics raises fears for the integrity of official statistics. The firing of a top United States statistics official by President Donald Trump last week has drawn concerns from economists and policymakers regarding the credibility of data in the world’s biggest economy. Trump’s dismissal of Bureau of Labor Statistics Commissioner Erika McEntarfer after the release of disappointing employment figures on Friday has raised fears over the integrity of Washington’s economic data, which are relied on by countless businesses and investors in the US and across the world. The National Association for Business Economics warned that McEntarfer’s “baseless” ouster risked doing “lasting harm to the institutions that support American economi...

With inflation rising and global backlash mounting, data suggests Trump's tariff blitz is straining the American economy, casting doubt on his promise to 'make it great again'. For all of US President Donald Trump’s promises of an economic “golden age,” a spate of weak economic indicators tells a more troubling story as the impacts of his policies come into sharper focus. The latest jobs report came in underwhelming. Consumer prices are creeping upward again. And growth is slowing compared with last year. The numbers don’t lie, and they’re not painting a picture of prosperity. More than six months into his term, Trump has aggressively reshaped America’s trading, manufacturing, and tax frameworks to reflect his economic nationalism. His blitz of tariff hikes, spending shifts, ...

Is the job market still growing? How happy are U.S. consumers? Did the economy grow again in the second quarter after stumbling in the first? (Spoiler alert: GDP beat expectations.) We'll get answers to those questions and more this week. But most analysts predict only minor changes from the previous months. The only exception: GDP. It tumbled in the first quarter as companies stocked up on imported goods ahead of President Donald Trump's new tariff policies. As the week closes, the tariffs and their impact may still be the biggest question weighing on the U.S. economy. It's a big enough unknown that few interest rate traders expected Fed chief Jerome Powell and the rest of the policymaking committee to cut interest rates on Wednesday; th...

While the outlook still remains positive, tariffs and inflation could trigger a U.S. recession The U.S. economy was on relatively solid footing heading into 2025, but an ongoing trade war and renewed stagflation fears have shaken up the economic outlook. The Federal Open Market Committee (FOMC)'s latest long-term economic projections from March still suggest a soft landing for the U.S. economy that includes slowing GDP growth but no recession. That being said, President Donald Trump has implemented bold and controversial policy measures, making the next several months a critical period for the economy. Labor market conditions have remained resilient up to this point, but U.S. GDP growth dropped into negative territory in the first quarter. The Federal Reserve has also paused its...

“I think there’s a chance real numbers will deteriorate soon,” Dimon said. JPMorgan Chase CEO Jamie Dimon has warned that US economy could soon “deteriorate”. While speaking at a Morgan Stanley conference on Tuesday, Dimon said that the effects of government spending and money policies used during the pandemic to support the US economy have worn off. And because of this, the country could face an economic slowdown in the coming months. The US economy has seen more jobs and steady consumer spending. However, surveys show that both consumers and business leaders are starting to feel less confident, likely due to the Trump administration’s tariff policies, a CNBC report said. Citing these survey results, Dimon said that these aren’t always good at predicting turning points in th...