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Electricity discount to be paid to NI households

Sep 17, 2026

The one-off £63 reduction in electricity bills will be paid from next month.

Tech treating AI like humans is mistaken and misguided, Microsoft boss tells BBC

Sep 17, 2026

Interest rates hold expected but Bank of England facing tough choices

Sep 17, 2026

Low-cost food pantry awarded £272k lottery grant

Sep 17, 2026

King Charles Meets With A.I. Executives About Safety Risks

Sep 17, 2026

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Sep 17, 2026

OpenAI reveals six more safety issues and unveils plan to disclose incidents

The firm also announced a new system to track, investigate and disclose cases of models misbehaving, or "misalignment".

Sep 17, 2026

Fed Raises Rates in First Major Step by Warsh to Contain Inflation

Sep 17, 2026

US interest rates raised for first time in three years

Sep 17, 2026

Why Trump's hand-picked Fed chair defied him by raising interest rates

Sep 17, 2026

Trump’s Latest Threats Loom Over Fed’s Interest Rate Decision

Interesting Read

Hang Seng Index retreats in face of rate hike

Shares edged up in Asia on Thursday as investors bet the US Federal Reserve is finally getting the jump on inflation, delivering its first rate hike in more than three years and calming a global bond selloff that had sent long-term yields soaring. In Hong Kong, the benchmark Hang Seng Index opened down 233 points, or 0.94 percent, at 24,480. The tech index fell 44 points, or 1.03 percent, to 4,281 while the China Enterprises Index slipped 79 points, or 0.97 percent, down to 8,127. Up north, the Shanghai Composite Index opened down 14 points, or 0.38 percent, at 3,877. The Shenzhen Component Index was 44 points, or 0.33 percent, lower at 13,409 while the ChiNext Index edged down 14 points, or 0.43 percent, to 3,297. In Tokyo, the Nikkei jumped 720 points, or 1.13 percent, up to 64,643 before giving back most of its gains to be just 64 points higher at one stage before noon. In Seoul, the Kospi, like the Nikkei, was just two points up at one stage before lunch after having opened 61 points, or 0.91 percent, higher at 6,779. The regional market openings came as the US dollar hit a seven-week high against its major peers, underpinned by a jump in short-term Treasury yields as markets ramped up wagers that the Fed may have to lift rates again, with a move by December fully priced in. That proved a headwind for commodities, with oil prices giving back ground. The focus now shifts to the Bank of England, which is widely expected to leave interest rates steady later in the day, but all eyes will be on any hint about if high energy prices could force it to hike in November. The Bank of Japan, by contrast, is all but certain to lift interest rates on Friday. As widely expected, the Fed raised interest rates by a quarter point overnight, but the unanimous decision tilted to the hawkish side, with the board signalling one more rate hike this year. Goldman Sachs now expects the Fed to hike rates again in October. "We think October is the most likely time for the next move because it is most natural to deliver hikes that the Fed's open market committee presented today as supporting 'a timelier return' to the 2 percent target at consecutive meetings," said Goldman analysts in a note. "Additional hikes are possible but not our base case." Commodity markets took a hit. Brent crude futures slipped 0.7 percent to US$105.05 a barrel after falling 2.7 percent overnight as Saudi Arabia was reportedly offering crude cargoes through Oman, easing some concerns about Middle East supply disruption. (Reuters & Xinhua) Edited by Aaron Tam

Sep 17, 2026

US stocks fall after Fed hikes key interest rate

Wall Street stocks fell while the US dollar advanced on Wednesday after the Federal Reserve lifted interest rates for the first time since 2023. A rate increase had been widely anticipated, but markets judged the central bank's overall message as more hawkish than expected after a majority of Fed policymakers pencilled in at least one more rate hike before the end of 2026. All three major US stock indices finished lower, with the broad-based S&P 500 down 0.5 percent. The US dollar advanced against the euro and other major currencies, while increases in US Treasury yields indicated that the market believes from Fed Chair Kevin Warsh's commentary that "the inflation fight isn't a one-and-done rate-hike kind of thing," said Briefing.com. "The remarks have reinforced the view that today's rate hike may not be an isolated move, with investors focused on the possibility that persistent inflation pressures could require additional tightening in the months ahead." The US central bank's Federal Open Market Committee voted unanimously to raise rates to between 3.75 and 4.00 percent, citing "elevated" inflation and adding that the rate hike would support a "timelier return" to its two-percent target for the metric. Before the Fed's announcement, the three major US stock indexes had been gaining ground, ⁠with a chips rebound, giving the tech-heavy Nasdaq ⁠the edge. Earlier in the session, robust retail sales data suggested consumers were still spending, despite an affordability squeeze due to rising prices, particularly at the gasoline pump. The war in the Middle East expanded as Saudi warplanes pounded Yemen while Iran-backed Houthi fighters launched drones and missiles at Saudi cities in a signal of Iran's extended reach in the widening conflict. Even so, oil prices dipped after reports that Saudi Arabia was offering additional crude cargoes via Oman eased concerns about supply disruptions. Front-month WTI settled down 3.2 percent and Brent crude settled down 2.7 percent. The Dow Jones Industrial Average fell 631 points, or 1.2 percent, to 51,461, the S&P 500 lost 33 points, or 0.4 percent, to ⁠7,552 and the Nasdaq Composite lost 3 points, or 0.01 percent, to 25,978. Tech shares were the biggest gainer among the 11 major sectors of the S&P 500, while energy, weighed down by easing crude prices, suffered the largest percentage drop, falling 3.0 percent. Chevron and Exxon Mobil fell 2.9 percent and 3.5 percent, respectively, while Devon Energy and ConocoPhillips lost more than 5 percent each. Tech got a lift as semiconductor shares advanced 0.6 percent in their first decisive gain since a joint call from AI executives seeking a slower rate at which capabilities are advanced and industry-wide safety coordination. Intel jumped 4 percent after a report said South Korea's SK ⁠Hynix was in talks with the company about memory chip manufacturing in the United States. US-listed shares of SK Hynix rose 0.6 percent. IBM fell 4.4 percent after the company said Anderon, its chip unit, has signed a funding agreement with the US government. (Agencies) Edited by Cecil Wong

Sep 16, 2026

US Fed raises rates by 0.25pc to battle inflation

The US Federal Reserve on Wednesday raised interest rates for the first time since 2023, defying US President Donald Trump's demand for cuts, as central bank chief Kevin Warsh stressed the need to combat inflation that has been "too high" for "too long." The Fed's Federal Open Market Committee voted unanimously to raise rates by 25 basis points to between 3.75 and 4.00 percent. Warsh, appointed by Trump, said the decision was a "serious" one, but needed to be taken. "The plain fact is that inflation is too high, and has been for too long," he told a press conference. Wednesday's rate hike may not be the last – the vast majority of Fed policymakers indicated that at least one more rate hike was likely necessary before the end of the year, according to their Summary of Economic Projections. US households and businesses have been battered by years of higher-than-target inflation, and prices have surged in the wake of Trump's war on Iran, his signature tariff policies and the ongoing AI boom. Trump reacted angrily to the decision, renewing his call for the Fed to lower interest rates "AND FAST" in a social media post. The US president has launched an unprecedented assault on the Fed's independence since taking office, attempting to fire a Fed Governor and launching a criminal probe against Warsh's predecessor in his quest for lower rates to spur economic activity. But asked by reporters on Wednesday whether he had still confidence in Warsh, Trump answered, “Yeah I do.” "I ... talked to Kevin," Trump added. "And I said you might as well vote with the board because it's not going to matter. The board is very hostile. They're very political. They're doing the wrong thing." Trump's Republican Party faces a stern test in upcoming midterm elections, with rival Democrats seeking to wrest control of both houses of Congress and economic issues front-and-centre for voters. The Fed has held rates steady since January, choosing to wait to gauge the effects of the Iran war's energy price shocks and to let the impact of tariffs on prices ripple through the economy. Since July, however, a growing faction of policymakers had indicated a rate hike may be required to tame inflation, as the war grinds on and prices remained elevated. On Friday, August's consumer price index came in at 3.4 percent – unchanged from the month before, but still well above the Fed's long-term two-percent target. Diane Swonk, chief economist at KPMG, said inflation had "forced the Fed's hand." "Price pressures remain too elevated and too persistent for policymakers to look through, while the economy and labour market have held up well enough to absorb tighter policy," she said. In its SEP, the Fed raised its forecast for its preferred gauge of inflation – the Personal Consumption Expenditures (PCE) price index – by 0.1 percentage points to 3.7 percent by year-end. The Fed also raised its projection for GDP growth by year-end to 2.3 percent, up 0.1 percentage points. Warsh reiterated his belief in the "resilience" of the US economy, citing its strength as being a marker of its ability to absorb tighter fiscal conditions. US stock markets largely priced in Wednesday's rate hike, but they were still down on the news – expected with any rate hike as equities become less attractive. Yields on 10-year US Treasury bonds – which have surged in recent days as uncertainty on long-term inflation has spiked – were also up past the five-percent threshold, a sign that uncertainty remains a factor. The Fed has a dual mandate to deliver maximum employment while keeping inflation to its long-term two-percent target. It mainly achieves these goals by setting the key US interest rate – lower rates tend to spur economic activity but fuel inflation, and hiking them cools both activity and prices. (Agencies) Edited by Cecil Wong

Sep 16, 2026

Here are five key takeaways from Wednesday's Fed rate hike

The Fed on Wednesday delivered a much-expected interest rate hike.

Sep 16, 2026

What to know about the Fed’s decision.

Sep 16, 2026

Fed approves interest rate hike, signals one more to come this year

The Federal Reserve on Wednesday approved its first interest rate hike since 2023 and indicated another to come.

Sep 16, 2026

Fed Signals Another Rate Increase Could Be Coming

Here’s how to read the Federal Reserve’s economic projections like a pro.

Sep 16, 2026

How the Fed’s Interest Rate Increase Affects Your Finances

The Federal Reserve increased its key rate by a quarter of a percentage point, but mortgages and other consumer loans have already trended higher.

Sep 16, 2026

Here is what changed in the new Fed statement under Warsh

This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policymaking meeting in July.

Sep 16, 2026