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U.S. Fed raises rates by 50 basis points

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The U.S. Federal Reserve has raised interest rates by half a percentage point, and projected more rises to come in 2023, to rein in inflation.

 
The U.S. Federal Reserve has raised interest rates by half a percentage point, and projected more rises to come in 2023, to rein in inflation.

Policymakers are starting to move more cautiously, following signs that the most severe inflation in decades may be starting to ease.

The Federal Reserve has raised interest rates at an historically rapid pace this year, responding to inflation that is running at a 40-year high.

“It is likely that restoring price stability will require holding [interest rates] at a restrictive level for some time,” Powell said at a press conference. “History cautions strongly against prematurely loosening policy.”

“Despite some promising developments, we have a long way to go in restoring price stability.”

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TikTok implements stricter guidelines on weight-loss drug promotion

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TikTok is tightening its regulations on influencers who promote weight-loss drugs like Ozempic.

With over 170 million users in the US, the app aims to prevent the spread of potentially harmful content related to rapid weight loss.

Starting in May, TikTok will prohibit influencers from posting “before-and-after” photos and restrict minors from accessing weight-loss content deemed risky. The crackdown extends to any content promoting drastic weight loss methods, aiming to combat the promotion of unrealistic body standards.

However, some influencers, like Dave Knapp and Kim Carlos, criticise the move, arguing it discriminates against those with health conditions. Others fear losing their income as TikTok takes down their content, prompting concerns about the platform’s future amid potential US bans.

As TikTok enforces stricter guidelines, influencers may seek alternative platforms to share weight-loss content. Despite the popularity of drugs like Ozempic and Wegovy, the crackdown reflects growing concerns about the impact of such promotions on user health.

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Game on with indie devs celebrated by Nintendo

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Nintendo Switch fans rejoice! The recent Indie World Showcase unveiled 17 new titles coming in 2024.

Including in the rundown is the adorable “Little Kitty, Big City” and explosive platformer “Anton Blast.” In other news, “Stellar Blade” confirms an uncensored release on PlayStation 5, Fallout’s TV adaptation gears up for Season 2, and Keanu Reeves joins the cast of Sonic 3 as Shadow. New releases this week include “Tales of Kenzera: Zau” and “Teenage Mutant Ninja Turtles Arcade: Wrath of the Mutants,” while “Fallout 4” gets a next-gen update. With “Stellar Blade” topping the list, gamers have plenty to look forward to in the coming weeks.

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What are the major takeaways from day one of Trump’s trial?

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The first day of Donald Trump’s criminal hush money trial that the former president broke the law and corrupted the 2016 election, while his defence lawyer said he committed no crime.

On this episode of Ticker Today – Former President Donald Trump’s hush money trial is officially underway, President Joe Biden makes cannibal claims, TikTok US ban enters the next phase and Gen Z’s are dropping degrees and picking up tools to become blue-collar workers.

Ticker’s Ahron Young and Veronica Dudo discuss.

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