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The nations economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households.

Thursdaysreport from the Commerce Departmentsaid the gross domestic product the economys total output of goods and services decelerated from its sizzling 4.9% growth rate the previous quarter.

But the latest figures still reflected the surprising durability of the worlds largest economy, marking the sixth straight quarter in which GDP has grown at an annual pace of 2% or more.

Consumers, who account for about 70% of the total economy, drove the fourth-quarter growth.

Their spending expanded at a 2.8% annual rate, for items ranging from clothing, furniture, recreational vehicles and other goods to services like hotels and restaurant meals.

The GDP report also showed that despite the robust pace of growth in the October-December quarter, inflationary measures continued to ease.

Consumer prices rose at a 1.7% annual rate, down from 2.6% in the third quarter.

And excluding volatile food and energy prices, so-called core inflation came in at a 2% annual rate.

Those inflation numbers could reassure the Federal Reserves policymakers, who have already signaled that they expect to cut their benchmark interest rate three times in 2024, reversing their 2022-2023 policy of aggressively raising rates to fight inflation.

Although GDP growth came in hotter than expected in the fourth quarter, underlying inflation continued to slow,’ said Paul Ashworth, chief North America economist at Capital Economics. The upshot is that an early spring rate cut by the Fed is still the most likely outcome.

The state of the economy is sure to weigh on peoples minds ahead of the November elections. Afteran extended period of gloom, Americans are starting to feel somewhat better about inflation and the economy a trend that could sustainconsumer spending, fuel economic growth and potentially affect voters decisions.

Ameasure of consumer sentimentby the University of Michigan, for example, has jumped in the past two months by the most since 1991.

There is growing optimism that the Fed is on track to delivera rare soft landing keeping borrowing rates high enough to cool growth, hiring and inflation yet not so much as to send the economy into a tailspin.

Inflation touched a four-decade high in 2022 buthas since edged steadily lowerwithout the painful layoffs that most economists had thought would be necessary to slow the acceleration of prices.

The economy has repeatedly defied predictions that the Feds aggressive rate hikes would trigger a recession.

Far from collapsing last year, the economy accelerated expanding 2.5%, up from 1.9% in 2022.

Our expectation is for a soft landing, and it looks like things are moving that way, said Beth Ann Bovino, chief economist at US Bank. Still, Bovino expects the economy to slow somewhat this year as higher rates weaken borrowing and spending.

People are going to get squeezed, she said.

The economys outlook had looked far bleaker a year ago.

As recently as April 2023, an economic model published by the Conference Board, a business group, had pegged the likelihood of a US recession over the next 12 months at close to 99%.

Even as inflation in the United States has slowed significantly, overall prices remain nearly 17% above where they were before the pandemic erupted three years ago, which has exasperated many Americans.

That fact will likely raise a pivotal question for the nations voters, many of whom are still feelingthe lingering financial and psychological effects of the worst bout of inflation in four decades.

Which will carrymore weight in the presidential election: The sharp drop in inflation or the fact that most prices are well above where they were three years ago?

The Fed began raising its benchmark rate in March 2022 in response to the resurgence in inflation that accompanied the economys recovery from the pandemic recession.

By the time its hikes ended in July last year, the central bank had raised its influential rate from near zero to roughly 5.4%, the highest level since 2001.

As the Feds rate hikes worked their way through the economy, year-over-year inflation slowed from 9.1% in June 2022, the fastest rate in four decades, to 3.4% as of last month.

That marked a striking improvement but still leaves that inflation measure above the Feds 2% target.

The progress so far has come at surprisingly little economic cost.

Employers have added a healthy 225,000 jobs a month over the past year.

And unemployment hasremained below 4% for 23 straight months, the longest such streak since the 1960s.

The once red-hot job market has cooled somewhat, easing pressure on companies to raise pay to keep or attract employees and then pass on their higher labor costs to their customers through price hikes.

Its happened in perhaps the least painful way: Employers are generally posting fewer job openings rather than laying off workers.

That is partly because many companies are reluctant to risk losing workers after having been caught flat-footed when the economy roared back from the brief but brutal 2020 pandemic recession.

Businesses are getting rid of job openings, but theyre holding onto workers, Bovino said.

Another reason for the economys sturdiness is that consumers emerged from the pandemic in surprisingly good financial shape, partly because tens of millions of households had received government stimulus checks.

As a result, many consumers have managed to keep spending even in the face of rising prices and high interest rates.

Some economists have suggested that the economy will weaken in the coming months as pandemic savings are exhausted, credit card use nears its limits and higher borrowing rates curtail spending.

Still, the government reported last week thatconsumers stepped up their spending at retailersin December, an upbeat end to the holiday shopping season.

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Environment

Next Generation Kenworth electric semi truck now available with Bendix ADAS

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June 15, 2025

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Next Generation Kenworth electric semi truck now available with Bendix ADAS

Bendix ADAS now available on Kenworth T680

Kenworth has announced the addition of Bendix’ Fusion advanced driver assist system (ADAS) to its line of options on the T680 line of Class 8 commercial semi trucks – a lineup that includes the Next Generation T680E battery electric semi truck.

One of the many new trucks revealed at the 2025 ACT Expo in Anaheim, California earlier this year, the Next Generation Kenworth T680E featured the latest advancements in battery-electric technology, an enhanced exterior design, and a suite of new, in-cab technology that extends to the addition of three Bendix Fusion version: ADAS, ADAS PRO, and ADAS PREMIER.

All three of the announced ADAS packages offer updated Adaptive Cruise Control (ACC) with ACC Stop and Auto Go™, a new Pedestrian Autonomous Emergency Braking (PAEB) feature, and a new High Beam Assist feature to reduce the likelihood of blinding oncoming drivers supported by the addition of a new forward-looking camera.

Those updates are in addition to the ADAS units Autonomous Emergency Braking (AEB), Multi-Lane Autonomous Emergency Braking, Highway Departure Braking (HDB), and Stationary Vehicle Braking (SVB), Lane Departure Warning, and Bendix® Blindspotter® Side Object Detection already available on previous versions of the ADAS-equipped Kenworth.

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Kenworth migital mirrors

Kenworth DigitalVision Mirrors; via Bendix.

Now that we’ve got that acronym-loaded word-salad out of the way, we can get to the point: the newest generation of electric trucks is easier and safer to drive – and not just safer for the truck’s operators, but for the people who share the roads with them, too.

Kenworth T680E electric semi

Next Generation T680E; via PACCAR Kenworth.

The Next-Generation T680E is available with up to 605 peak hp and 1,850 lb-ft of torque from a PACCAR Integrated ePowertrain fed from a 500 kWh li-ion battery pack good for more than 200 miles of loaded range. The updated Class 8 BEV is rated up to 82,000 lb. gross vehicle weight ratings (GVWR), and can get that load back up to speed quickly with a 350 kW peak charge rate that means the T680E can charge up to 90% in just two hours.

That system isn’t just more efficient than the first generation truck, it’s also more serviceable than it was before.

“This move to a fully integrated and ground-up PACCAR design means we were able to design for enhanced serviceability,” explains Joe Adams, Kenworth’s chief engineer. “Providing easier access to the Master Service Disconnects for improved safety and increased uptime and allowing the use of the DAVIE service tool for troubleshooting and diagnostics.”

The Next Generation Kenworth T680E electric semi truck is designed for short and regional-haul, LTL, and drayage operations. It’s available as a day cab as either a tractor or straight truck in a 6×4 axle configuration.

SOURCE | IMAGES: Kenworth; via Kenworth.

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World

Iran’s response to Israeli strikes a ‘matter of principle’, ambassador to UK says

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June 15, 2025

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Iran's response to Israeli strikes a 'matter of principle', ambassador to UK says

Iran’s response to Israeli attacks on its nuclear facilities is “self-defence” and a “matter of principle”, the Iranian ambassador to the UK has told Sky News.

Speaking exclusively to The World With Yalda Hakim, Seyed Ali Mousavi said the “barbaric Israeli regime” is “violating international law” – describing Israel’s actions in recent days as “an act of aggression against the Iranian people”.

The conflict between Israel and Iran – once played out in a series of proxy wars – has escalated in the past three days.

Follow Israel-Iran conflict live

Sky's Yalda Hakim spoke to Iran's ambassador to the UK, Seyed Ali Mousavi.
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Sky’s Yalda Hakim spoke to Iran’s ambassador to the UK, Seyed Ali Mousavi

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Israel-Iran: How the conflict escalated

On Friday morning, explosions hit Tehran as Israel carried out a major attack on its top army leaders, nuclear sites, and nuclear scientists.

Iran threatened “severe punishment” and quickly retaliated with a wave of missiles.

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Missile aftermath in Israel

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Israeli missile hits warehouse in Iranian city

When questioned about whether Iran could continue fighting Israel, the Iranian ambassador told Yalda Hakim that “it is a matter of principle”.

He said: “This is about self-defence, there is no doubt about it.

“We are a responsible member state of the UN and we do all activities according to our international obligations.

“Any activities are only in the framework of self-defence.”

Damage from an Iranian missile attack to a building in Bat Yam, Israel. Pic: Reuters
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Damage from an Iranian missile attack to a building in Bat Yam, Israel. Pic: Reuters

Explosions over Jerusalem
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Explosions over Jerusalem on Sunday

He added that his country would “do our best to preserve our territorial integrity”, and that “with the help of God”, Iran will “materialise endeavours concretely against our enemy – the Israeli regime”.

Mr Mousavi also told Hakim that Iran’s nuclear activities are “monitored”, and that recent comments by the International Atomic Energy Agency (IAEA) were “politically motivated”.

Read more here:
How conflict between Israel and Iran unfolded
UK advises against all travel to Israel
Explosions over Jerusalem as missiles ‘detected’ by IDF

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Missiles have also been seen over Tel Aviv

The UN nuclear watchdog’s board of governors found Iran was not complying with its nuclear obligations for the first time in 20 years.

Iran said it has “always adhered” to the safeguarding obligations laid down by the watchdog.

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Iranian ambassador reacts to strikes – full interview

Announcing Operation Rising Lion on Friday, Israeli Prime Minister Benjamin Netanyahu claimed Iran had recently taken steps to weaponise enriched uranium, which could be used to make nuclear weapons.

But Mr Mousavi stressed that Iran’s “peaceful activities” at its “nuclear fields” were only for the “generation of electricity, and other peaceful” things.

Iran was due to continue its round of negotiations with the US in Muscat – however, this was cancelled, given recent tensions.

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Entertainment

Liam Gallagher hits out at Edinburgh council after Oasis fans branded ‘rowdy’

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June 15, 2025

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Liam Gallagher hits out at Edinburgh council after Oasis fans branded 'rowdy'

Liam Gallagher has criticised a Scottish council for suggesting Oasis fans were “drunk, middle-aged and fat”.

The remarks were revealed following a freedom of information request that was sent to Edinburgh council – ahead of the band’s three sold-out shows in Scotland this August.

The documents expressed concerns that the Oasis Live ’25 tour would clash with the Edinburgh Festival Fringe – the world’s largest performance arts festival.

Liam Gallagher (left) and Noel Gallagher (right). Pic: PA.
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Liam Gallagher (left) and Noel Gallagher. Pic: PA

One note warned that there would be a “substantial amount of older fans”, and that because “middle-aged men take up more room”, age and size should be considered in crowd control planning.

Another note suggested “medium to high intoxication” should be expected at the concert.

An additional remark said there was some “concern about crowds of Oasis on weekends as they are already rowdy, and the tone of the band”.

The Fringe is considered one of the world's largest performance arts festivals, with millions of attendees expected in August. Pic: PA.
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The Fringe is one of the world’s largest performance arts festivals. File pic: PA

It also expressed concern for the “safety” at the Edinburgh Fringe – including for its performers.

“Many performers are considering not attending for that weekend,” one note read.

Liam Gallagher was not impressed – and left the following message for the council on his social media.

“To the Edinburgh council I’ve heard what you said about Oasis fans and quite frankly your attitude f****** stinks I’d leave town that day if I was any of you lot.”

In a second post, he said: “I’d love to see a picture of all the people on the Edinburgh council bet there’s some real stunning individuals.”

Liam Gallagher. Pic: AP.
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Liam Gallagher said the council’s attitude towards fans ‘stinks’. Pic: AP

David Walker, from the Oasis Collectors Group, has described the comments as “a nasty, sneering stereotype”.

“It’s a jaundiced view,” he added.

Local councillor Margaret Graham said that it is usual practice for the council to “prepare extensively” for major city events.

The culture and communities convener also said: “We’re very proud to host the biggest and best events in Edinburgh throughout the year, which bring in hundreds of millions of pounds to the local economy and provide unparalleled entertainment for our residents and visitors.

“As with any major event which takes place in the city, we prepare extensively alongside our partners to ensure the safety and best possible experience of everyone involved – and Oasis are no different.”

Noel Gallagher (L) and Liam Gallagher (R) at Wembley Stadium in 2008. The brothers will be back in Wembley for their upcoming concerts.
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Noel Gallagher (left) and Liam Gallagher at Wembley Stadium in 2008. Pic: PA

Around 210,000 fans are expected to attend the three Edinburgh gigs.

Oasis made their comeback announcement in August last year – ahead of the 30th anniversary of their debut album Definitely Maybe, released on 29 August 1994.

Read more on Sky News:
Explosions reported in central Tehran
How the conflict between Israel and Iran unfolded
Helicopter crashes in India, killing seven Hindu pilgrims

Liam and Noel Gallagher’s return also marks 15 years since the last time the brothers performed together before their infamous fallout – which was prompted by a backstage brawl before a Paris festival in August 2009.

Liam damaged one of his elder brother’s guitars, causing Noel to dramatically quit – ending the partnership that had propelled them to fame and fortune.

“It is with some sadness and great relief… I quit Oasis tonight,” Noel later said in a statement. “People will write and say what they like, but I simply could not go on working with Liam a day longer.”

The feud continued over the years, with the pair exchanging insults publicly – Liam on social media, Noel more when asked about his brother in interviews – but reportedly never speaking in person.

When his documentary As It Was was released in 2019, Liam told Sky News he had wanted to “break [Noel’s] jaw” after he apparently refused permission for Oasis music to be featured in the film.

But after 15 years, they have now made amends – giving thousands of Oasis fans the chance to see them play live once again.

Their top hits include Wonderwall, Don’t Look Back In Anger, Stand By Me, Lyla and The Importance of Being Idle.

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