ECB’s Schnabel says higher prices from tariffs could limit rate cuts

The Israeli military targeted Syrian army headquarters in Damascus and near Suwayda in response to escalating violence involving Druze and Bedouins, injuring nine individuals, according to Syrian health officials. Israeli Prime Minister Netanyahu emphasized the need to protect the Druze community, while the Syrian government condemned the violence and pledged accountability for those responsible. Explain It To Me Like I'm 5: The Israeli military bombed Syrian army headquarters in Damascus to protect the Druze community...

A convicted British criminal, Jack Dylan Hennessy, scammed over 20 New Zealanders, mainly elderly, out of $337,700 by posing as a police courier. During a parole board hearing in 2024, he expressed deep regret for his actions, stating he is "disgusted and embarrassed" and aspires to be remembered for positive contributions instead. Explain It To Me Like I'm 5: A man named Jack did a bad thing by tricking people into giving him their money,...

A Stellenbosch University researcher has developed a blockchain-based voucher system prototype that enables transparent donations of essential goods through digital tokens, promoting community-level support in a cashless society. This innovative approach aims to enhance the efficiency and traceability of charitable giving while addressing the challenges posed by declining cash usage. Explain It To Me Like I'm 5: A smart person at a school made a special digital gift card system that helps people give important...

Microsoft's King division, known for Candy Crush, has laid off around 200 employees, who will be replaced by AI tools they helped develop, amidst broader restructuring in the gaming division. The layoffs have caused significant frustration and low morale among remaining staff, with further cuts expected, affecting multiple offices across Europe. Explain It To Me Like I'm 5: Microsoft's King division has laid off around 200 employees, replacing them with AI tools they developed, leading...

Republicans in the US Senate have decided to preserve the US-backed HIV/Aids programme Pepfar from proposed $400 million cuts, maintaining total cuts at $9 billion in a rescissions package that also targets international aid and public broadcasting. Bipartisan concern for Pepfar's impact, which has saved millions of lives globally, has influenced this decision, with the amendment set for another House vote before a Friday deadline. Explain It To Me Like I'm 5: Senators in the...

Roula Khalaf, Editor of the FT, shares her favorite stories in a weekly newsletter. Recent research from the Dallas Fed suggests that potential mass deportations under Trump could significantly impact economic growth, with estimated GDP reductions of up to 1.5 percentage points by 2027, highlighting the importance of immigration flows to the labor market. Explain It To Me Like I'm 5: The Dallas Fed's research suggests that Trump's proposed mass deportations could significantly harm the...