Despite concerns surrounding the collapse of U.S. banks and turmoil at Credit Suisse, the European Central Bank (ECB) proceeded with a substantial interest rate hike on Thursday. The ECB raised rates by 0.5%, emphasizing its commitment to combating the soaring 8.5% inflation…
On Thursday, the Senate initiated efforts to repeal two open-ended authorizations for military action in Iraq as the United States observes the 20th anniversary of the Iraq War. Senators voted 68-27 to advance legislation that would rescind the 2002 authorization for the…
According to several GOP senators on Wednesday, U.S. support for Ukraine in its fight against Russia does not serve a vital national interest. Florida Gov. Ron DeSantis disagreed. Senator Lindsey Graham from South Carolina told Capitol Hill reporters Tuesday that it’s a…
Treasury Secretary Janet Yellen provided a confident outlook for the U.S. banking system on Thursday, addressing worried bank depositors and investors as new rescue measures were launched following the second-largest bank collapse in American history. Yellen assured senators during a Capitol hearing…
As Silicon Valley Bank’s rapid expansion and high-risk investments in the bond market led to its collapse, federal and state regulators failed to intervene. Most of the bank’s deposits were uninsured by the federal government, leaving customers vulnerable in the face of…
The Mexican Defense Department reported that soldiers discovered more than 1.83 million fentanyl pills in a Tijuana stash house on Tuesday. This revelation came a day before Mexico’s president denied the production of a synthetic opioid within the country. According to a…
After the U.S. attributed a drone crash in the Black Sea to a collision with a Russian fighter jet, Moscow announced its intention to recover the wreckage. On television, Nikolai Patrushev, Russian Security Council secretary, stated that Russia would try to retrieve…
With the government on the brink of default due to political deadlock, President Joe Biden unveiled a budget proposal on Thursday to reduce deficits by $2.9 trillion over the next ten years. However, Republicans are already planning to reject it. This move…
Tyson Foods Inc (TSN.N) announced on Tuesday that it would close two US chicken plants, impacting nearly 1,700 workers, on May 12. This decision highlights the ongoing struggles the largest US meat company faces in sales as it tries to enhance its…
Bank runs, reminiscent of the scene from “It’s a Wonderful Life,” used to involve frantic customers crowding together, demanding their money from an overwhelmed George Bailey. However, the recent collapse of Silicon Valley Bank bears little resemblance to that image, as it…