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Inflation beaten, Fed cuts rates, but prices remain high: Trump
WASHINGTON (AP) — Inflation has risen in three of the last four months and is slightly higher than it was a year ago, when it helped sink then-Vice President Kamala Harris’ presidential campaign. Yet you wouldn’t know it from listening to President Donald Trump or even some of the inflation fighters at the Federal Reserve. Trump told the United Nations General Assembly late last month, “Grocery prices are down, mortgage rates are down, and inflation has been defeated.” And at a high-profile spee
Oct. 13, 2025 -
Truce fizzles as US-China trade tensions return to full boil
NEW YORK (AP) — For months, bubbling trade tensions between China and the US seemed to calm to a simmer, with words like “thaw” and “truce” swapped in for warnings of economic “war.” Now, hostilities appear to be returning to full boil. A series of tit-for-tat moves last week by the two superpowers has thrust trade hostilities back in the global spotlight, roiling markets and raising alarms of what might come next. “Let’s poke the bear again,” economist Aleksandar Tomic, an associate dean at Bos
Oct. 12, 2025 -
Trump announces new 100% China tariff, threatens to scrap Xi talks
WASHINGTON -- US President Donald Trump announced an additional 100 percent tariff on China Friday and threatened to cancel a summit with Xi Jinping, reigniting his trade war with Beijing in a row over export curbs on rare earth minerals. Trump said the extra levies, plus US export controls on "any and all critical software," would come into effect from Nov. 1 in retaliation for what he called Beijing's "extraordinarily aggressive" moves. "It is impossible to believe that China would have taken
Oct. 11, 2025 -
Staffing shortages cause more US flight delays
Staffing shortages led to more flight delays at airports across the US on Tuesday as the federal government shutdown stretched into a seventh day, while union leaders for air traffic controllers and airport security screeners warned the situation was likely to get worse. The Federal Aviation Administration reported staffing issues at airports in Nashville, Boston, Dallas, Chicago and Philadelphia, and at its air traffic control centers in Atlanta, Houston and the Dallas-Fort Worth area. The agen
Oct. 9, 2025 -
Supreme Court lets Lisa Cook remain as Fed governor for now
WASHINGTON (AP) — The Supreme Court on Wednesday allowed Lisa Cook to remain as a Federal Reserve governor for now, declining to act on the Trump administration’s effort to immediately remove her from the central bank. In a brief unsigned order, the high court said it would hear arguments in January over Republican President Donald Trump’s effort to force Cook off the Fed board. The court will consider whether to block a lower-court ruling in Cook’s favor while her challenge to her firing by Tru
Oct. 2, 2025 -
US government shutdown takes hold with mass layoffs looming
WASHINGTON (AP) — The federal government was thrown into a shutdown Wednesday with no easy endgame in sight, as Democrats held firm to their demands to salvage health care subsidies that US President Donald Trump and Republican in Congress have dismissed as something to possibly discuss later. The White House threatened mass layoffs of federal workers, rather than simply the normal furloughs, in a matter of days, seizing the chance to slash government. Blame was being cast on all sides. No new t
Oct. 2, 2025 -
US shutdown begins as partisan division rules Washington
WASHINGTON (Reuters) -- The US government shut down much of its operations Wednesday as deep partisan divisions prevented Congress and the White House from reaching a funding deal, setting off what could be a long, grueling standoff that could lead to the loss of thousands of federal jobs. There was no clear path out of the impasse, while agencies warned that the 15th government shutdown since 1981 would halt the release of a closely watched September employment report, slow air travel, suspend
Oct. 1, 2025 -
Amazon refreshes device lineup to integrate AI-powered Alexa+
SAN FRANCISCO (Reuters) -- Amazon on Tuesday unveiled a refreshed lineup of devices optimized for home security and its new artificial intelligence-infused Alexa+ voice assistant. At an event in New York, Amazon showed off Echo speakers, Fire TV streaming devices, a new Kindle reader and improved Ring and Blink cameras, which will be available later this year. Amazon is trying to drive interest in the new Alexa, after investing billions of dollars and years updating it with AI for better persona
Oct. 1, 2025 -
Trump meets Democrats without breakthrough on imminent shutdown
WASHINGTON (AFP) -- A White House meeting Monday with top Republican and Democratic congressional leaders yielded no budget breakthrough, with both sides trading blame less than 36 hours before government funding runs out. "Large differences" remained between the two sides, top Sen. Democrat Chuck Schumer told reporters after the last-gasp meeting hosted by President Donald Trump. Schumer, whose party is in the minority, said "it's up to the Republicans whether they want a shutdown or not," addi
Sept. 30, 2025 -
G7 weighs price floors for rare earths to counter China's dominance
BRUSSELS/TORONTO (Reuters) -- Group of Seven members and the European Union are considering price floors to promote rare earth production, as well as taxes on some Chinese exports to incentivize investment, four sources with knowledge of the discussions told Reuters. Rare earths are difficult-to-extract metallic elements critical to the manufacture of products including cell phones, cars and high-tech weapons. China, the world's leading producer of rare earths, surprised buyers in April when it
Sept. 25, 2025 -
Powell signals Fed to move slowly on interest rate cuts
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials this week who have called for a more urgent approach. In remarks in Providence, Rhode Island, Powell noted that there are risks to both of the Fed’s goals of seeking maximum employment and stable prices. But with the unemployment rate rising, he noted, the Fed agreed to cut its key rate last week. Yet he did not signal any further
Sept. 24, 2025 -
OpenAI, Oracle, Softbank show off Stargate AI data center
ABILENE, Texas (AP) — The afternoon sun was so hot that OpenAI CEO Sam Altman traded his usual crewneck sweater for a T-shirt on the last legs of a Tuesday visit to the massive Stargate artificial intelligence data center complex that will power the future of ChatGPT. OpenAI announced Tuesday that its flagship AI data center in Texas will be joined by five others around the US as the ChatGPT maker aims to make good on the $500 billion infrastructure investment promoted by President Donald Trump
Sept. 24, 2025 -
Trump proposes new H-1B visa process favoring higher-skilled, better-paid workers
WASHINGTON (Reuters) -- The Trump administration released a proposal on Tuesday that would rework the H-1B visa selection process to favor higher-skilled and better-paid workers, according to a related Federal Register notice, a move that follows a White House proclamation on Friday introducing a $100,000 fee for the visas. The new process, if finalized, would give heavier weight to applications by employers who pay high wages if annual requests for the visas exceed the statutory limit of 85,000
Sept. 24, 2025 -
'TikTok deal nears, with Oracle, Silver Lake among investors'
WASHINGTON (Reuters) -- President Donald Trump this week will declare that a deal to divest TikTok's US operations from its Chinese owner ByteDance will meet requirements set out in a 2024 law, a White House official said Monday, adding that investors will include Oracle and private equity firm Silver Lake. ByteDance will own less than 20 percent while TikTok US will be controlled by a mix of its existing US and global firms as well as a significant number of new investors who have no affiliatio
Sept. 23, 2025 -
Trump's new visa policy inspires sour response from tech firms
NEW YORK/BENGALURU (Reuters) -- US President Donald Trump's new visa fees for foreign workers drew widespread condemnation from technology executives, entrepreneurs and investors across social media, with just a few outliers, as many saw it as a major blow to a sector that contributed millions to his re-election campaign. Technology executives and investors said the new fees could add millions of dollars in costs for companies and disproportionately hurt startups, which may not be able to afford
Sept. 23, 2025