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The World in Brief from The Economist

America’s falling inflation; Paris Olympics begin, and more

The World in Brief from The Economist

The Economist

Daily News, Global News, News, News & Politics

4.11.2K Ratings

🗓️ 27 July 2024

⏱️ 7 minutes

🧾️ Download transcript

Summary

Barack Obama endorsed Kamala Harris as the Democratic presidential nominee

Transcript

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0:00.0

The Economist.

0:04.3

Hello, you're listening to the free edition of the world in brief from The

0:09.9

Economist. As a reminder, if you subscribe to the economist, you'll get access to a deeper look at the day ahead, updated three times a day.

0:20.0

If you're already an economist subscriber, visit Economist.com slash Espresso,

0:25.5

or visit our Espresso app to start listening.

0:28.6

Here's today's free edition. This is the World in Brief from The Economist.

0:37.0

Our top stories. The start of the Paris Olympics was celebrated on Friday with a

0:48.7

star-studied eclectic and rainy opening ceremony along the Seine.

0:54.0

Hours earlier, France's high-speed rail network was hit by a series of apparent arson attacks.

1:01.0

Trains were suspended across most of the country after fires were lit on lines to the west, north and east of the capital.

1:09.0

The attacks also hit several lines in and out of Paris.

1:13.2

It remains unclear who is behind it.

1:16.0

SNCF, France's rail company, said that delays would affect 800,000 travellers.

1:23.0

Gabriel Atal, the Prime Minister, said the government had launched an investigation.

1:30.0

America's price index for core personal consumption expenditures rose by 2.5% year on year in June,

1:37.7

down from 2.6% in May.

1:40.4

The data shows that the Federal Reserve's preferred gauge is inching closer to its 2% target.

1:47.0

Consumer spending remained strong. However, the savings rate fell to its lowest level since 2022, suggesting that Americans are dipping

1:56.3

into their savings to maintain spending levels.

2:00.6

Barack Obama endorsed Carmeler Harris as the Democratic presidential nominee.

2:06.0

In a joint statement with his wife Michelle Obama, the former president lauded the vice president's, quote quote vision, character and strength.

2:15.9

The endorsement follows days of speculation about whether Mr Obama might withhold support

...

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