Economy

Fed vs. inflation
Inflation rises in the US – approaching 4 percent

US inflation rose sharply in April to 3.8 percent at an annual rate, from 3.5 percent in March. This is evident from the latest PCE index, which is the measure that the Federal Reserve attaches the most importance to.

Core inflation, which excludes energy and food prices, rose to 3.3 percent from 3.2 percent in March.

The Fed's goal is for inflation to be 2 percent.

The President's team
Defends Trump bill: "There is nothing inappropriate in it"

The Trump administration has been pushing for a new $250 bill with the president's portrait since last year, but has run into trouble. The Washington Post reports this ahead of the country's 250th anniversary celebrations. Treasury Secretary Scott Bessent defended the efforts in a comment on Thursday, according to Bloomberg.

– I don’t think there’s anything inappropriate about the president of the United States, the person who is the president of the United States, being depicted on the 250th anniversary note, he said at a press conference at the White House.

Trump’s budget
Trump’s children’s accounts are getting closer – getting $1,000 each

On July 4, the so-called Trump accounts, a new government investment savings account for American children, will be launched. Starting today, you can download the app with which the accounts will be managed, writes CNBC.

According to Treasury Secretary Scott Bessent, almost six million children have been registered for the tax-free savings form, writes Bloomberg.

Children born in 2025, 2026, 2027 and 2028 will receive a start-up grant from the government of $1,000. Parents are then free to deposit money into the accounts – but no withdrawals can be made until the child turns 18.

If the purpose of the withdrawal is to finance certain selected purposes, such as education or housing, certain tax benefits are given.

Arla merges with German DMK – becomes the largest in Europe

The merger between dairy giants Arla and DMK Group has been given the green light by the EU Commission. This means that Europe's largest farmer-owned dairy cooperative can soon see the light of day.

The joint company will bear the name Arla and bring together 11,200 dairy farmers in seven countries and 28,800 employees.

The development of electric cars
Ferrari's defense: "You have to see and drive to understand"

Despite all the mockery and the cold reception on the stock exchange, Ferrari CEO Benedetto Vigna is behind the company's first electric car, the Luce, which will be sold for the equivalent of almost six million kronor. Vigna says it has already received orders from both old and new customers, writes Bloomberg.

“The Ferrari Luce has nothing in common with the electric cars you have seen from other manufacturers. You have to see it and drive it to understand,” he said during an event in Modena on Thursday.

Vigna also admits that the launch campaign may have garnered a little too much attention for the car.