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Our top stories.

The chair of America's Federal Reserve, Jerome Powell, sent a strong signal that the central bank could cut interest rates in September.

In a speech in Wyoming, Mr. Powell noted

that, with the labour market cooling and inflation contained, quote, the shifting balance of risk

may warrant adjusting our policy stunts. Markets reacted immediately. The SMP 500 rose by more than 1.5% while the Dow Jones Industrial Average rose by nearly 2%.

Famine has been confirmed in Gaza City for the first time, according to the IPC,

a group backed by the United Nations.

Israel says it, quote, firmly rejects the findings.

The report comes as Benjamin Netanyahu, Israel's prime minister,

approved a plan for Israeli forces to take over Gaza City.

He also said Israel would begin negotiating with Hamas to secure the release of hostages.

Donald Trump said that America's federal government would take a 10% stake in Intel, a struggling

domestic chip manufacturer. The arrangement could involve converting federal grants issued to Intel under the

CHIPS Act into an equity stake. Earlier this week, the Trump administration confirmed talks

were ongoing, adding that the government would not sit on the firm's board.

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