Fed Won't Cut Rates Yet Amid Sticky Inflation
The Federal Reserve kept the policy rate near 5.3 percent, signaling no cut until inflation convincingly slows to 2 percent. Powell warned progress remains uneven, markets eyed potential cuts later this year but priced in fewer moves amid stubborn price pressures and robust spending.
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May Day rallies spark global protests over prices and rights
Worldwide May Day demonstrations featured protests against rising costs and calls for stronger labor rights. In Istanbul police used tear gas and rubber bullets to disperse crowds seeking Taksim square, with 210 detained. Paris and Athens saw pro Palestine displays amid strikes and transport disruption. Brazil’s Lula expanded income tax relief for workers, while Nigeria and Kenya officials faced wage and minimum wage debates.
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Nigeria
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DoorDash profits slow as costs rise and orders surge
DoorDash reports first quarter revenue of 2.51 billion, up 23 percent, with total orders rising 21 percent to 620 million driven by U S grocery delivery. Net loss narrows to 23 million, missing Wall Street revenue forecasts as higher marketing and research costs weigh. New wage rules in New York and Seattle cut merchant sales by 150 million and 40 million respectively.
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