Summary: Federal Reserve Chair Janet Yellen hints at earlier than expected rate hike slam markets; Oracle, Fedex results disappoint; Toyot's $1.2b settlement. Bobbi Rebell reports.
The World Trade Organization's chief said on Tuesday that U.S. presidential candidate Donald Trump's proposal to impose a 10% import tariff would prompt retaliation from partners, resulting in a "lose-lose" situation that could upend the trading system. Okonjo-Iweala was responding to a question about the impact of the proposal by Trump, a Republican, to slap a 10% tariff on all imports were he to defeat Democratic President Joe Biden in the Nov. 5 U.S. election. Okonjo-Iweala, whose campaign to be WTO chief was opposed by the U.S. in 2020 under Trump, was speaking at an event at the Peterson Institute for International Economics in Washington to mark the global trade watchdog's 30th anniversary.
Chunky bootmaker Dr. Martens is warning of a tough year ahead. Dr. Martens shares plunged more than 30% Tuesday after the iconic British brand forecast wholesale revenue in the U.S., its largest market, would decline by double-digits compared with last year. Trading in Dr. Martens stock was temporarily halted on the London Stock Exchange early Tuesday as it sank to a record-low 0.64 pounds, according to FactSet.
Brussels authorities on Tuesday ordered the shutdown of a controversial gathering of hard-right European politicians, after it was targeted by online protesters and bumped from its first two choices of venue.Emir Kir, mayor of the Brussels district of Saint-Josse where the venue is located, said on Facebook he issued a ban in order to "ensure public security" -- with protesters vowing to target the venue.
Jury selection continued Tuesday morning in the case of the People of the State of New York v. Donald Trump — the first criminal trial of a former president ever.
Microsoft is investing $1.5 billion in a technology firm based in the United Arab Emirates and overseen by the country’s powerful national security adviser. Microsoft and the technology holding company G42 announced the deal Tuesday. As part of the agreement, Microsoft's president, Brad Smith, will join G42's board of directors.
Colombia has halted electricity exports to neighboring Ecuador as its hydropower plants reach near-critical levels due to a biting drought, the government said late Monday.A level of 27 percent is considered critical.
The Biden administration aims to tackle "runaway interest" as part of a new student debt relief measure. If successful, it could bring relief to 23 million borrowers.
An international summit on saving the oceans netted $10 billion in pledges, the prime minister of host country Greece said on Tuesday."We're heartened by the commitments that have been made during this gathering -- over 400 pledges exceeding $10 billion in value," Greek Prime Minister Kyriakos Mitsotakis said on Tuesday.
German Chancellor Olaf Scholz said Tuesday he had urged Xi Jinping to press ally Russia to end its "senseless" war in Ukraine and that the Chinese president had agreed to back a peace conference in Switzerland."I have therefore asked President Xi to influence Russia so that Putin finally calls off his senseless campaign, withdraws his troops and ends this terrible war," he said on social media platform X. He said Xi had agreed to back the peace conference in Switzerland, which is due to take pla
California might step in to regulate groundwater use in part of the crop-rich San Joaquin Valley, which would be a first-of-its-kind move that comes a decade after lawmakers tasked local communities with carefully managing the precious but often overused resource. At issue is control over a farming-dependent area where state officials say local water agencies haven’t come up with a strong enough plan to keep the water flowing sustainably into the future. “It’s a huge deal,” said Dusty Ference, executive director of the Kings County Farm Bureau, which represents regional farmers.
The UN appealed Tuesday for pledges to address the "critical" humanitarian situation in Ethiopia, where more than 21 million people need aid and a dire food crisis is deepening.- 'Very fragile' - "The humanitarian situation in Ethiopia is critical -- but there is a window to act right now to break the downward spiral," UN humanitarian agency, OCHA, said.
House Speaker Mike Johnson is drawing closer to peril after another conservative hardliner came out in support of ousting him.
When Israel responds to the unprecedented weekend Iranian drone and missile salvoes, its aim will be to send a message of deterrence to Tehran while drawing a line under this round of hostilities, a senior Israeli lawmaker said on Tuesday. Among Israeli considerations in planning a counter-strike are the war-wariness of Westerns powers, the risk to air crews from any sorties against Iran and the need to keep focus on the more than half-year-long Gaza offensive, Yuli Edelstein said. Israeli officials say the response to the Iranian attacks will be agreed by Prime Minister Benjamin Netanyahu and his war cabinet.
The same storm system responsible for several dozen incidents of severe weather, including a few tornadoes, over the Great Plains into Monday night will pivot eastward across the Midwest into Wednesday evening. The storms will threaten major population centers and blast across some heavily traveled highways, AccuWeather meteorologists warn. All modes of severe weather are possible both days through Wednesday, ranging from powerful wind gusts and large hail to tornadoes, including the chance for
Treasury Secretary Janet Yellen warned Tuesday of potential global economic damage from rising tensions in the Middle East and pledged that the U.S. and its allies won't hesitate to use their sanctions powers to address Iran's "malign and destabilizing activity” in the region. Iran's missile attack on Israel early Sunday came in response to what it says was an Israeli strike on Iran's consulate in Syria earlier this month.
The company that provided Donald Trump with a $175 million bond in his New York civil fraud case said it had "substantial financial credibility," and rejected a suggestion by the state's attorney general that it wasn't qualified to provide help. Trump obtained the bond from Knight Specialty Insurance Co as a guarantee so he could appeal a $454.2 million verdict that state Attorney General Letitia James won in February. James objected to the bond on April 4 because Knight lacked a "certificate of qualification," and demanded that the insurer or Trump's lawyers "justify" the bond within 10 days.
Henry Olonga was at the peak of his career as a professional cricketer when he took a stance that would ultimately force him to leave Zimbabwe.
With his book “The Anxious Generation,” social psychologist Jonathan Haidt calls for a revolution in how parents administer smartphones and social media to children.
"Getting young people into farming may not be the problem. Keeping them on the farm may be the hardest part," writes Eliza Milio.
Joe Biden loves nothing more than peppering speeches with references to his blue-collar roots in Scranton, Pennsylvania.In speeches, Biden often refers to his hardscrabble Scranton roots -- stories about the father who taught him that a job is about respect, not just a paycheck, the mother who taught him about values.
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