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The Federal Reserve's latest financial stability report was good news for anyone worried that a record run of interest rate hikes might overstress the banking system or trigger a recession with companies and households pushed into default through a broad credit crackdown. Instead, the Fed is wrestling with an economy that has sloughed off tight monetary policy to such a degree that U.S. central bank officials are without a clear view of what to expect and divided over issues like productivity, the economy's underlying potential, and even whether the current policy interest rate is as restrictive as imagined when they called off further hikes. A recently updated Fed index of overall financial conditions showed there was virtually no impact on economic growth right now from the central bank's monetary policy or the broader credit conditions it is intended to influence.
UPS and FedEx are facing uncertainty in U.S. supplies of big, boxy electric step vans they need to replace their gas guzzlers and make a dent in the country's climate-warming tailpipe emissions. The path to electrification by the package delivery giants is critical to U.S. President Joe Biden's transportation climate goals. Achieving that aim, however, is hampered by battery shortages that are limiting EV supplies and keeping prices high, and by startup electric van makers that are running out of money and shutting down.
Hose in hand, 40-year-old Zhu Huangyi cleans a small concrete room once home to his silkworms, two thirds of which were lost in deadly floods hitting southern China this week. - 'I lost all my cocoons' - Adding to the pain is the loss in the floods of the village's mulberry trees, the silkworms' only source of food.
The U.S. Supreme Court hears arguments on Thursday on Donald Trump’s claim that he enjoys sweeping immunity from criminal prosecution for actions he took as president, a claim that has delayed by months a case accusing him of trying to overturn his 2020 defeat. The federal case brought by Special Counsel Jack Smith charging Trump with trying to overturn his election defeat -- one of four criminal cases the Republican presidential candidate faces -- has been paused since December while the immunity argument plays out. Criminal defendants are not usually able to appeal court rulings until after a trial if they are convicted, but Trump was able to file an immediate appeal because the immunity argument bears on whether he must even face a trial.
Two-thirds of Americans reported that they feel confident they have enough money for a comfortable retirement, up a notch from last year.
Investors face mixed signals from Wall Street — as well as a historical calendar that suggests some chop might be around the corner.
Meta reported its Q1 earnings after the bell, beating analysts' expectations on the top and bottom, but a disappointing Q2 forecast sent shares falling.
Ever since college, Brad Jobling struggled with his weight, fluctuating between a low of 155 pounds when he was in his 30s to as high as 220. A little over a year ago, the 58-year-old Manhattan resident went on a new weight loss drug called Wegovy.
French police broke up a pro-Palestinian protest by dozens of university students in Paris, officials said Thursday, as Israel's bombardment of Gaza sparks a wave of anger across college campuses in the United States.The protesters were demanding that Sciences Po "cut its ties with universities and companies that are complicit in the genocide in Gaza" and "end the repression of pro-Palestinian voices on campus", according to witnesses.
Italy’s canal city has begun charging a 5 euro entry fee for people visiting for the day, the world’s first such measure to tackle chronic overtourism at peak times.
Thursday is Take Our Daughters and Sons To Work Day 2024. See why kids have been shadowing their parents for over 30 years and how the tradition started.
A dramatic operation to save the lives of more than 100 pilot whales ended in partial success on Thursday after wildlife officials managed to return most of the stranded animals to sea.
US Secretary of State Antony Blinken called Thursday on the United States and China to manage their differences "responsibly" as he landed in Beijing for tough talks with the rival power's leaders.China has accused the United States of unfair economic coercion.
White House and EPA to release new rules to reduce pollution at power plants, curb fossil fuel emissions scientists say are driving climate change
Taiwan's president-elect has appointed new foreign and defense ministers to join his incoming administration as the island faces continuing military threats and diplomatic isolation from China. Lai Ching-te, who assumes the presidency on May 20, announced Thursday that current Presidential Secretary General Lin Chia-lung will take over as foreign minister.
While the rest of the world may associate Macao with gambling, its citizens don’t necessarily feel the same way.
More than 3 million air fryers from Insignia, Cosori and more have been recalled due to fire and burn hazards, a USA TODAY review found.
Venice’s long awaited entry fee for day trippers kicks off on April 25. Here’s how to pay, and how to claim an exemption if you’re staying in the city.
Progressive lawmakers are warning their support isn't a magic bullet for the president's shaky ground with young voters over Gaza.
Italy on Thursday marked its liberation from Nazi occupation and fascist rule amid a fresh media controversy over suspected censorship and the legacy of Italian fascist complicity in the Holocaust and World War II-era crimes. Premier Giorgia Meloni, whose Brothers of Italy party traces its roots to the neo-fascist movement that emerged after the fall of dictator Benito Mussolini, joined the Italian president at the tomb of the unknown soldier in Rome for the solemn Liberation Day commemoration. This year’s anniversary was marked by a media storm over the decision by state-run RAI television to spike a planned Liberation Day monologue by an Italian author denouncing fascism and what he said was Meloni’s refusal to repudiate it.
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