Global financial media focused on the following major headlines overnight and this morning:

1. US consumer price growth exceeds expectations, but rate cuts remain on schedule 2. US Commerce Secretary: Trump wants Harvard University to invest $500 million in vocational schools 3. Oracle shares retreat 6% after posting largest gain in over 30 years 4. US Department of Justice sues Uber, alleging discrimination against disabled passengers 5. European Central Bank maintains rates unchanged amid lingering tariff concerns 6. JPMorgan global research head: European spending plans will drive Euro strength

**US Consumer Price Growth Exceeds Expectations, But Rate Cuts Remain On Schedule**

US consumer price growth in August exceeded expectations, with year-over-year inflation reaching a seven-month high. However, against the backdrop of a weakening labor market, this data will not prevent the Federal Reserve from implementing rate cuts next week.

Data released Thursday by the US Bureau of Labor Statistics showed that the Consumer Price Index (CPI) rose 0.4% month-over-month in August, following a 0.2% increase in July. Year-over-year, August CPI increased 2.9%, marking the largest gain since January this year, up from 2.7% in July.

**US Commerce Secretary: Trump Wants Harvard University to Invest $500 Million in Vocational Schools**

US Commerce Secretary Lutnick said in an interview Thursday that a potential settlement agreement between Harvard University and the Trump administration could require the institution to invest approximately $500 million in building vocational schools.

"If Harvard and Trump reach a settlement, do you know what he would do with that $500 million? He would have Harvard build vocational schools. Harvard vocational schools - that's what America really needs," Lutnick said.

Harvard and the government have made little progress in settlement negotiations. The White House accuses Harvard of failing to adequately curb anti-Semitic sentiment on campus and fostering political bias, while Harvard believes the government is overreaching in its actions.

**Oracle Shares Retreat 6% After Posting Largest Gain in Over 30 Years**

Oracle shares closed down 6% Thursday, following the previous trading session when the stock closed at a record high. The decline was triggered by an analyst report expressing concerns that much of the company's future growth will come from a single client - OpenAI.

This week, the software provider's stock experienced dramatic volatility. Company CEO Safra Catz said Tuesday that Oracle "signed four multi-billion dollar contracts with three different customers" in the most recent quarter. The company's remaining performance obligations (a measure of unrecognized contract revenue) soared to $455 billion, up 359% year-over-year.

Oracle stated in its forecast that cloud infrastructure revenue will grow 14-fold by 2030.

**US Department of Justice Sues Uber, Alleging Discrimination Against Disabled Passengers**

According to documents, the US Department of Justice filed a lawsuit against Uber Thursday, accusing the ride-hailing giant of discriminating against disabled passengers.

The complaint filed in San Francisco federal court states: "Although Uber's services are vital to people with disabilities, the company has denied people with disabilities the full and equal enjoyment of its services in several key respects."

The Justice Department alleges that Uber and its drivers "routinely refuse to provide services to people with disabilities, including those with service dogs or using collapsible wheelchairs," and that the company "imposes unreasonable surcharges by charging cleaning fees related to service dogs and cancellation fees to passengers who were illegally denied service."

**ECB Maintains Rates Unchanged Amid Lingering Tariff Concerns**

The European Central Bank kept interest rates unchanged Thursday as economic uncertainty from Trump's aggressive tariff agenda persists.

The decision came as markets had priced in approximately 99% probability that the ECB would keep its key deposit facility rate unchanged at 2% for the second consecutive time. The central bank last cut rates in June, further reducing them from last year's record 4%.

The ECB stated: "Inflation is currently near the 2% medium-term target, and the Governing Council's assessment of the inflation outlook remains largely unchanged."

**JPMorgan Global Research Head: European Spending Plans Will Drive Euro Strength**

JPMorgan global research head Joyce Chang said the Euro will continue strengthening this year, boosted by European spending plans.

The Wall Street bank expects the EUR/USD exchange rate to rise to 1.20 by December and reach 1.22 by June next year, as European economic growth outpaces the US. Chang added that a potential ceasefire in Ukraine could also support the Euro.

The Euro has experienced volatility in recent weeks following Barnier's defeat in a French confidence vote, though it remains near four-year highs. The Euro has surged 13% against the dollar this year, potentially posting its largest annual gain since 2017.