US Social Security agency delays, rolls back some service cuts after complaints
The U.S. Social Security Administration said on Wednesday it would delay planned phone service cuts to retirees by two weeks and abandon a rule that would have required some disabled and elderly people to travel to an office to claim…
Trump selects Georgia state lawmaker Brandon Beach to be next US Treasurer
President Donald Trump on Wednesday said he had picked Georgia’s Republican state Senator Brandon Beach to be the next Treasurer of the United States, a role that has oversight of the U.S. Mint and involves liaison with the Federal Reserve….
US judiciary launches task force on security, independence after Trump criticism
The U.S. federal judiciary on Wednesday launched a task force focused on ensuring the continued security and independence of the courts as Republican President Donald Trump and his allies ramp up their criticism of judges who block his agenda. The…
US appeals court pauses order forcing Musk’s DOGE to turn over documents
By Jack Queen (Reuters) – A federal appeals court on Wednesday paused an order that would have forced Elon Musk’s government cost-cutting initiative to turn over records and answer questions under oath about its efforts to slash bureaucracy under President…
Trump names conservative media critic as US ambassador to South Africa
WASHINGTON – President Donald Trump has named conservative media critic Leo Brent Bozell III as U.S. ambassador to South Africa, the president said on social media late on Wednesday. Bozell’s nomination must still be confirmed by the U.S. Senate.
US appeals court upholds block on Trump deportation of some Venezuelans
WASHINGTON -A U.S. appeals court on Wednesday upheld a lower court’s temporary block on the Trump administration’s deportation of some Venezuelan immigrants under a little-used 18th century law. The decision by the U.S. Circuit Court of Appeals for the D.C….
Trump administration spending freeze will remain blocked, US appeals court says
BOSTON -A court order blocking President Donald Trump’s freeze on trillions of dollars in government financial assistance will remain in place for now, a federal appeals court said on Wednesday. The ruling by the Boston-based 1st U.S. Circuit Court of…
Trump administration detains Turkish student at Tufts, revokes visa
BOSTON – U.S. immigration authorities have detained and revoked the visa of a Turkish doctoral student at Tufts University near Boston who had voiced support for Palestinians in Israel’s war in Gaza. Rumeysa Ozturk’s supporters say her detention, late on…
Cuban domestic freight traffic plummets in sign of deepening crisis
HAVANA – Cuban freight traffic plunged 19% in 2024, the government’s statistics agency said this week, the latest sign that a grueling economic crisis which began five years ago is growing worse. The statistic measures transportation by ground, sea and…
UK finance minister Reeves trims her spending plans in face of slowing economy
LONDON – British finance minister Rachel Reeves, facing a weak economy, trimmed her spending plans in a budget update on Wednesday that gave some reassurance to investors, but the risks of a global trade war could put tax hikes back…
US risks default as soon as August without debt-ceiling action, CBO estimates
WASHINGTON – The U.S. government will probably risk defaulting on some of its $36.6 trillion in debt as soon as August – or possibly even by late May – unless Congress acts to raise the nation’s debt ceiling, the non-partisan…
Analysis-Wall Street job cuts loom as market turmoil stalls deals
NEW YORK – U.S. investment banks are poised to cut more jobs if economic uncertainty continues to weigh on dealmaking in the months ahead, according to analysts and recruiters. U.S. President Donald Trump’s threats to impose tariffs on trading partners…
Trump tariffs loom over Britain’s debt-laden economy
LONDON – U.S. President Donald Trump emerged as one of the biggest threats hanging over the British economy on Wednesday, when the country’s fiscal watchdog said slow growth and a heavy debt burden made it especially vulnerable to his proposed…
Oil settles up 1% on US crude and fuel stock draw, Venezuela supply worries
HOUSTON -Oil prices rose on Wednesday, buoyed by government data showing U.S. crude oil and fuel inventories fell last week and by mounting concerns about tighter global supply following the U.S. threat of tariffs on nations buying Venezuelan crude. Brent…
NY Fed details likely looming rise in troubled student loan borrowing
NEW YORK -The end of various pandemic-era student loan support programs likely portends a rise in credit issues for borrowers, although it will take time to understand the full extent of the problem, New York Federal Reserve researchers said on…
Euro drops to three-week low before auto tariff announcement
NEW YORK -The dollar hit a three-week high against the euro and gained on the yen on Wednesday as traders awaited an announcement from U.S. President Donald Trump on auto tariffs. Traders worry that the trade levies will dent U.S….
Trading Day: ‘Tariff Man’ flexes muscles, markets cower
ORLANDO, Florida – TRADING DAY Making sense of the forces driving global markets Nasdaq slumps 2%, tariff fears intensify It was really only a matter when, not if, tariff fears cast a pall over Wall Street and global markets again,…
Energy leads UK shares higher after finance minister trims spending plans
British equities closed higher on Wednesday, buoyed by rising energy stocks, after finance minister Rachel Reeves pushed back government spending plans in a long-anticipated budget update. Both the blue-chip FTSE 100 and the FTSE 250 index gained 0.3%. Facing a…
Wall Street ends down sharply on tariff worries; Nvidia and Tesla drop
Wall Street stocks ended sharply lower on Wednesday, dragged down by losses in Nvidia and Tesla as investors awaited information about long-promised U.S. tariffs on automotive imports. U.S. President Donald Trump was set to announce plans for car-industry tariffs at…
Stocks tumble, dollar climbs as new tariff announcement eyed
NEW YORK -Global stocks dropped for the first time in three sessions on Wednesday and the U.S. dollar resumed its ascent as investors awaited the next tariff announcement from U.S. President Donald Trump. Trump was scheduled to hold a press…