Peter Wells

Weaker outlook follows profit warning from Delta Air Lines

Shares tumble more than 12% after-hours as carrier cuts quarterly revenue and earnings outlook by half

Sentiment among businesses and consumers cools sharply as tariffs and inflation take a toll

US electric vehicle pioneer led by Elon Musk has been hit by slowing demand

News updates from July 9: Powell hails progress in tackling US inflation; Moscow court orders arrest of Alexei Navalny’s widow

The Trump-Biden debate as it happened

News updates from June 17: Russian billionaire Usmanov sues UBS, Netanyahu dissolves Israel’s war cabinet

News updates from June 12: Fed officials signal one 2024 interest rate cut; US inflation falls to 3.3% in May

US consumer sentiment hits 6-month low on resurgent inflation outlook

Jim Simons, whose mathematical work led to the development of string theory and the establishment of famed quantitative fund Renaissance Technologies, has died, aged 86. A trained mathematician, Simons worked as a Cold War codebreaker for the US National Security Agency during the mid-1960s, before shifting to Stony Brook University later in the decade where he chaired the maths department at the New York-based school. Leaning on his mathematical expertise, Simons left academia and in 1978 fou…