By Nicole Goodkind, CNN The Federal Reserve raised interest rates by a quarter point on Wednesday as it attempts to fight stubbornly high inflation while addressing risks to financial stability. Investors and economists had widely anticipated the quarter-point increase despite the meltdown in the banking sector. Still, Federal Reserve Chairman Jerome Powell and policymakers entered
Continue Reading By Nicole Goodkind, CNN The Federal Reserve raised interest rates by a quarter point on Wednesday as it attempts to fight stubbornly high inflation while addressing risks to financial stability. Investors and economists had widely anticipated the quarter-point increase despite the meltdown in the banking sector. Still, Federal Reserve Chairman Jerome Powell and policymakers entered
Continue Reading By Ramishah Maruf, CNN Right now, $250,000 seems to be the number on everyone’s minds. That’s the Federal Deposit Insurance Corporation’s standard limit, meaning any bank deposits up to that amount are protected by the independent government agency. Before the recent collapse of Silicon Valley Bank and Signature Bank, most Americans were not worried about
Continue Reading By Oliver Darcy, CNN Business DirecTV said Wednesday that it has reached a multi-year distribution agreement with Newsmax, putting to end a bitter carriage dispute that waded into political waters and saw the right-wing channel and satellite carrier savage one another in public. “This resolution with Newsmax, resolving an all-too-common carriage dispute, underscores our dedication
Continue Reading By Samantha Murphy Kelly, CNN Business One mother in Bucks County, Pennsylvania, said her 18-year-old daughter is so obsessed with TikTok, she’ll spend hours making elaborate videos for the Likes, and will post retouched photos of herself online to look skinnier. Another mother in the same county told CNN her 16-year-old daughter’s ex-boyfriend shared partially
Continue Reading By Brian Fung, CNN TikTok CEO Shou Chew plans to tell US lawmakers that the app’s parent company, ByteDance, does not work for the Chinese government as he seeks to avert a US ban and reassure policymakers TikTok poses no national security threat. The remarks, which include broad promises to protect US user data, to
Continue Reading By Chris Isidore, CNN Norfolk Southern CEO Alan Shaw returned to Capitol Hill Wednesday facing pressure to support rail safety legislation proposed in the wake of his railroad’s massive toxic spill from a February 3 derailment in East Palestine, Ohio. Although Shaw’s prepared testimony released in advance of the hearing promised to take steps to
Continue Reading By Lucy Kafanov, CNN Situated in the Sonoran Desert near the Arizona-California border is the tiny rural town of Cibola — home to roughly 300 people, depending on the season. Life here depends almost entirely on the Colorado River, which nourishes thirsty crops like cotton and alfalfa, sustains a nearby wildlife refuge and allows visitors
Continue Reading By Lucy Kafanov, CNN Situated in the Sonoran Desert near the Arizona-California border is the tiny rural town of Cibola — home to roughly 300 people, depending on the season. Life here depends almost entirely on the Colorado River, which nourishes thirsty crops like cotton and alfalfa, sustains a nearby wildlife refuge and allows visitors
Continue Reading By Jordan Valinsky, CNN Business Grindr, the popular LGBTQ+ dating app, is partnering with a program distributing free at-home HIV tests as part of a new public health initiative. Now, within the app’s main menu, US-based users will see a new “Free HIV Home Test” button. People who order will receive an OraQuick kit: an
Continue Reading By Marshall Cohen, CNN The judge in the Dominion Voting Systems’ defamation case against Fox News signaled his interest Wednesday in the duty that executives like Rupert Murdoch might have to stop known liars from going on-air, and suggested he might force Murdoch to testify. Delaware Superior Court Judge Eric Davis repeatedly pressed a Fox
Continue Reading By Matt Egan, CNN Senator Elizabeth Warren is cranking up the pressure on the Federal Reserve following the collapse of Silicon Valley Bank. In a new letter shared exclusively with CNN, Warren, Sen. Bernie Sanders and ten other senators are calling for the Fed to crack down on large regional banks with assets between $100
Continue Reading By Matt Egan, CNN Senator Elizabeth Warren is cranking up the pressure on the Federal Reserve following the collapse of Silicon Valley Bank. In a new letter shared exclusively with CNN, Warren, Sen. Bernie Sanders and ten other senators are calling for the Fed to crack down on large regional banks with assets between $100
Continue Reading By Nicole Goodkind, CNN Federal Reserve officials have a difficult path ahead of them. They still have work to do to bring inflation down, but their efforts have been complicated by the events of the past few weeks. The failures of Silicon Valley Bank and Signature Bank and the ongoing stress in the regional banking
Continue Reading By Nicole Goodkind, CNN Federal Reserve officials have a difficult path ahead of them. They still have work to do to bring inflation down, but their efforts have been complicated by the events of the past few weeks. The failures of Silicon Valley Bank and Signature Bank and the ongoing stress in the regional banking
Continue Reading By Rhea Mogul, CNN A colossal police hunt for a Sikh separatist who has revived calls for an independent homeland in India’s Punjab state has stoked fears of violence and revived painful memories of a bloody insurgency that killed thousands. Amritpal Singh, 30, has been on the run since March 18 after he was accused
Continue Reading By Olesya Dmitracova and Hanna Ziady, CNN UK consumer prices jumped by 10.4% in February compared with a year ago, as food inflation hit its highest level in more than 45 years, and as the cost of visiting restaurants and hotels increased, official data showed Wednesday. Food prices soared 18.2% through the year to February,
Continue Reading By Juliana Liu, CNN Asia Pacific shares opened higher on Wednesday, tracking US gains, as investors awaited the US Federal Reserve’s next monetary policy decision later in the day. Hong Kong’s benchmark Hang Seng index was trading 2.3% higher, leading gains in the region. Japan’s Nikkei 225 rose by 1.8%, while the broader Topix index
Continue Reading By Michelle Toh, CNN Dozens of American companies are in Vietnam this week in hopes of pushing further into the fast-growing Southeast Asian economy, which has emerged as an attractive potential alternative to China as companies seek to diversify their markets and supply chains. Senior executives from 52 US firms are taking part in the
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