Inflation and rate outlook dampen hopes for quick cuts
U.S. inflation stayed high driven by gas rents and autos with core prices up 0.4 percent month over month and 3.8 percent year over year. Wall Street slid as yields rose and traders weighed the possibility that rate cuts may be delayed into September or later.
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Ex-Trump executive Weisselberg jailed five months for perjury
Allen Weisselberg, 76, sentenced to five months in jail for lying under oath in the New York civil fraud case against Donald Trump. He was escorted out in handcuffs, having already served 100 days last year for tax dodging perks.
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Ford recalls 40,000 plus SUVs over fuel injector fire risk
Ford recalls nearly 43 000 Bronco Sport and Escape SUVs from 2022 2023 models due to cracked fuel injectors that can allow gasoline to contact hot engine parts. The fix redirects fuel away from ignition sources and updates software to detect pressure drops and reduce power. warranty extensions for cracked injectors are planned with details in June.
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