World

WASHINGTON: U.S. consumer prices rose more than expected in July, with a measure of underlying inflation increasing by the most in 29-1/2 years amid broad gains in the costs of goods and services. The report from the Labor Department on Wednesday, however, probably does not mark the start of worrisome inflation, and the Federal Reserve is likely to continue pumping money into the economy to aid the recovery from the COVID-19 recession. The jump in prices is likely an unwinding of sharp declines experienced when nonessential businesses were shuttered in mid-March to slow the spread of the coronavirus. The higher prices further dispel fears of deflation, a decline in the general price level that is harmful during a recession as consumers and businesses may delay purchases in anticipati...

ROME: Chinese businesses like Huawei Technologies pose a threat to the West, Hong Kong pro-democracy activist Nathan Law said on a visit to Italy on Tuesday (Aug 25), shortly before the Italian foreign minister was due to meet China's top diplomat. Law, a former legislator, left Hong Kong last month after China imposed a new national security law on the territory that has been heavily criticised by the West. Law spoke to reporters in Rome shortly before Foreign Minister Luigi Di Maio was due to meet Chinese State Councillor Wang Yi, with the pair expected to discuss the roll out of new generation 5G technology in Italy. Italy has not joined the United States in imposing restrictions on Huawei, but the company was excluded from a recent Telecom Italia tender to supply technology for ...

A cargo plane operated by Etihad Airways prepares to land at Israel's Ben Gurion Airport near Tel Aviv on June 9, 2020. The United Arab Emirates flew its first publicly announced flight to Israel on May 20, when Etihad sent medical supplies to help Palestinians cope with the coronavirus. The president of the United Arab Emirates has issued a decree canceling a law on boycotting Israel and allowing trade and financial agreements between the two countries, the UAE official news agency WAM reported on Saturday. The decree from UAE President Khalifa bin Zayed Al Nahyan aims at "supporting bilateral cooperation in order to arrive at (the establishment) of bilateral relations," the agency said. The announcement comes as El Al Airlines plans to operate Israel's first direct flight between Tel ...

This is part of CNBC Make It's series on what it's like to be Black in Silicon Valley. Silicon Valley has long been a culture dominated by white men, with a fraught record of following up on commitments to fix its race problem, from major tech companies that have barely moved their numbers on diversity to a lack of funding for Black founders. Here, CNBC Make It spoke with Black professionals to hear their experiences. Already in his young career, Kyle Woumn, 25, has had disappointing experiences that are too typical for a Black techie in white Silicon Valley. While a computer science student at Georgia Tech, Woumn remembers being one of only one or two Black interns at cloud platform Twilio in San Francisco for two summers running. When he took a job there in 2017 he was one of about six...