Donald Trump's return to the White House could put the independence of the US Federal Reserve under strain, potentially weakening its ability to fight against inflation and unemployment free from political interference.The Fed has a dual mandate from Congress to act independently to tackle both inflation and unemployment -- primarily by raising and lowering interest rates.
Donald Trump's first White House term saw a bruising trade war with China that left a lingering impact on farmers -- and many are bracing for further fallout as the President-elect threatens higher levies on Beijing.But this comes even as Trump's Republican party saw wide support in rural areas during this year's election, with many farmers supporting him despite the financial hit in the trade war.
Trump secured his return to the White House on Wednesday morning, achieving a remarkable comeback following his 2020 reelection defeat.
On Indonesia's beach-fringed resort island of Bali, fed-up locals want to slow the mass tourism that is their biggest money earner -- hoping a plan to freeze hotel-building can restore some calm.Jakarta says the building freeze plan aims to balance economic gain from tourism with preserving Bali's natural beauty.
Farmer Liu Bingyong used to make a tidy profit selling milk but is now leaking cash -- the victim of a dairy sector crisis that embodies several of China's economic woes."The current state of China's dairy industry has been long in the making," said Liu, a veteran farmer in the eastern province of Shandong.
China and Indonesia have agreed to strengthen cooperation in key sectors, including lithium, new energy vehicles, green energy and tourism, according to a joint statement released on Saturday. The statement followed a meeting between Chinese President Xi Jinping and Indonesian President Prabowo Subianto, who is visiting China through November 10, the first country he has visited since taking office last month.
Donald Trump can claim a lot out of his 2024 election win. What Trump cannot claim is a landslide victory, although that’s how he will describe it.
Democrat April McClain Delaney narrowly won a U.S. House seat in Maryland’s most competitive congressional races that came to focus on reproductive rights and the economy. The state’s sprawling 6th Congressional District covers a wide swath of rural Maryland as well as more affluent liberal suburbs of Washington, D.C. The close race wasn’t called until Saturday, four days after Election Day. McClain Delaney, who declared victory Friday, said in a statement that she is “deeply honored and humbled” by the trust the voters have placed in her.
A soldier for Yemen’s exiled government opened fire on Saudi troops as they exercised in eastern Yemen, killing two of them and wounding another in a rare insider attack during the kingdom's nearly decadelong war there, officials said Saturday. The assault in eastern Hadramawt province comes as a yearslong cease-fire between Saudi Arabia and Yemen's Houthi rebels largely has held despite the militants' ongoing attacks against shipping in the Red Sea corridor. While the Houthis did not claim the attack, at least one Houthi official praised it as being “the beginning and an indication of a harsh future awaiting the invaders.”
Republican Eli Crane has won reelection in a Republican-leaning congressional district covering vast swaths of rural Arizona. Crane faced a spirited challenge from Democrat Jonathan Nez, the former Navajo Nation president, in the 2nd District race. Nez was vying to become the first Native American to represent Arizona in Congress.
Qatar announced Saturday that it has paused its role as a mediator for a ceasefire in Gaza between Israel and Hamas due to a lack of willingness by the sides to reach an agreement.
Mauritius votes on Sunday in a tight election race that has been clouded by a wire-tapping scandal in a nation usually touted as one of Africa's most stable and prosperous democracies.Just over one million people are registered to vote in the 12th election since independence from Britain in 1968.
A 37-year-old man who police say stabbed five people in Seattle in broad daylight Friday and possibly four others the day before made his first court appearance Saturday where a judge ordered him held on $2 million bail. “People who live in and travel to the Chinatown-International District deserve to feel safe and be safe,” said King County Prosecuting Attorney Leesa Manion after the judge found probable cause to hold him on five counts of first-degree assault.
The US government plans to appeal a military judge’s ruling that plea deals with the alleged 9/11 conspirators at Guantanamo Bay — which were revoked by Defense Secretary Lloyd Austin — are valid, a defense official said Saturday.
Joe Biden will meet with President-elect Donald Trump at the White House on Wednesday after the US leader pledged an orderly transfer of power back to the Republican he beat in elections just four years ago. The 81-year-old president, who dropped out of the White House race in July over concerns about his age, health and mental acuity, called Trump on Wednesday to congratulate him on the election win.
Twenty years after burying him, Egyptian architect Ahmed el-Meligui was forced to exhume his grandfather's remains from a historic Cairo cemetery that is being partially razed to accommodate the growing mega-city.Speaking from his luxury home in west Cairo, Meligui said he had the remains transported in a hearse to be reinterred at a new cemetery in Fayoum province, around 100 kilometres (60 miles) away.
Staff at Australia's parliament made 30 complaints of serious workplace offences such as sexual assault over nine months, the Sydney Morning Herald reported on Sunday, as the legislature struggles to address a wave of scandals. It received 30 reports of serious wrongdoing out of 339 total cases in its initial nine months of operation, October 2023 to June 2024, the newspaper said.
The U.S. ordered Taiwan Semiconductor Manufacturing Co to halt shipments of advanced chips to Chinese customers that are often used in artificial intelligence applications starting Monday, according to a person familiar with the matter. The Department of Commerce sent a letter to TSMC imposing export restrictions on certain sophisticated chips, of 7 nanometer or more advanced designs, destined for China that power AI accelerator and graphics processing units (GPU), the person said. The U.S. order, which is being reported for the first time, comes just weeks after TSMC notified the Commerce Department that one of its chips had been found in a Huawei AI processor, as Reuters reported last month.
A Federal Emergency Management Agency employee was fired after recently advising a disaster relief team to not visit homes with yard signs that support President-elect Donald Trump.
Protesters and police clashed in the streets of Valencia in eastern Spain on Saturday, as tens of thousands of people marched to demand the regional president resign over his response to floods that killed more than 220 people.
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