The US Federal Reserve cut interest rates for the first time in four years, stepping back from its aggressive bid to cool the world's largest economy and reduce inflation. America's central bank, which lifted rates to a two-decade high after price growth surged to its highest level in a generation, announced a cut of 50 basis points. Policymakers at the Fed also expect to cut rates by an additional 50 basis points this year, according to projections released alongside the news.

Inflation has fallen dramatically since peaking in summer 2022, although many consumers are still grappling with higher costs - from groceries and fuel to rent and travel fares - after years of price increases. Jerome Powell, the Fed's chair, told reporters: "This decision reflects our growing confidence that, within appropriate recalibration of our policy stance, strength in the labour market can be maintained in a context of moderate growth and inflation moving sustainably down to" the Fed's 2% target.

The global vaccine alliance, Gavi, said it will buy 500,000 doses of mpox vaccine to battle outbreaks of the disease in African countries. The vaccine doses - manufactured by the Danish company Bavarian Nordic - will be available this year, Gavi said, without giving any specific dates. Gavi said the full costs, including the transportation, delivery and administration of the doses, amounting to $50 million, would be covered by the group's First Response Fund, a new financial mechanism created in June 2024.

Since the beginning of the year, there have been over 25,000 confirmed mpox cases and 723 related deaths, the vast majority in Congo, and the World Health Organization declared it a global health emergency. So far Congo, the epicentre of the global health emergency, has received only 250,000 vaccine doses, donated by the European Union and the United States. The 250,000 doses are just a fraction of the 3 million doses authorities have said are needed to end the mpox outbreak in the country.

The Indian state of West Bengal agreed to remove the police chief of its capital, Kolkata, following a meeting with doctors protesting the rape and murder of their colleague while on duty at a government hospital. Two other senior officials - the director of medical education and the director of health services - will also be removed, Chief Minister Mamata Banerjee said. Thousands of junior doctors in the state have been on a strike since August 9, when the body of the 31-year-old woman was found at the state-run hospital where she worked.

The crime sparked nationwide outrage and concerns about the safety of health workers in India. A hospital volunteer was arrested in connection with the case, which is now being investigated by a federal agency. The protesting doctors have voiced five key changes: justice for the victim, the removal of senior police officials, and enhanced security for health workers, among them.

Google won a court challenge against a 1.49 billion Euro ($1.66 billion) European Union antitrust fine imposed five years ago that targeted its online advertising business. The EU's General Court said it was throwing out the 2019 penalty imposed by the European Commission, which is the 27-nation bloc's top antitrust enforcer. "The General Court annuls the Commission's decision in its entirety," the court said in a press release this week.

The commission's ruling applied to a narrow portion of Google's ad business: ads that the US tech giant sold next to Google search results on third-party websites. Regulators had accused Google of inserting exclusivity clauses in its contracts that barred these websites from running similarly placed ads sold by Google's rivals. The commission said when it issued the penalty that Google's behaviour resulted in advertisers and website owners having less choice and likely facing higher prices that would be passed on to consumers.