U.S. Federal Reserve raised interest rates on Wednesday for the second time in three months, a move spurred by steady economic growth, strong job gains and confidence that inflation is rising to the central bank's target. The decision to lift the target overnight interest rate by 25 basis points to a range of 0.75% to 1.0% marked a convincing step in the Fed's effort to return monetary policy to a more normal footing.
On Monday, two US airlines announced that they have plans to cancel their flights to Cuba, one of which is Fort Lauderdale-based Silver Airways, whose representatives said they had made the “difficult but necessary” decision to cancel its services to Cuba from April 22.
US President Donald Trump paid US$38m in tax on more than US$150m income in 2005, a leaked tax return shows. Two pages of the tax return were revealed by US TV network MSNBC, triggering an angry response from the White House, arguing that publishing the tax return was illegal.
Mexico's top diplomat was in Washington last week for meetings with the U.S. government, sidestepping the normal channels and heading straight for the White House. Mexican Foreign Secretary Luis Videgaray met at the White House with President Trump's son-in-law and senior advisor Jared Kushner, along with National Security Advisor H.R. McMaster and Gary Cohn, a top financial aid, the Mexican government announced.
Attorneys general in four states from the United States announced that they will try to block the Trump administration's revised executive order on travel in court, pushing for the temporary restraining order that halted the first order to remain intact.
Spanish oil firm Repsol SA has announced the largest onshore oil discovery in the U.S. in three decades, a 1.2 billion barrel find on Alaska’s North Slope. Repsol has been actively exploring in Alaska since 2008 and finally hit a big one. The find came after drilling two wells with its partner, Armstrong Oil & Gas.
Robust hiring by United States employers in President Donald Trump's first full month in power, along with rising wages, have economists tipping a faster-than-anticipated cycle of interest rate increases by the US Federal Reserve, beginning this week.
Legal challenges against President Donald Trump's revised travel ban mounted Thursday as Washington State said it would renew its request to block the executive order and a judge granted Oregon's request to join the case.
United States companies added jobs at a great pace in February, with a notable shift away from the service-sector positions that have dominated hiring for years, according to a report released this week. Employment in the private sector surged by 298,000 for the month, with goods producers adding 106,000, ADP and Moody's Analytics said. Construction jobs swelled by 66,000 and manufacturing added 32,000.
Winds and strong currents brought a cruise ship unusually close to homes on the water near Port Everglades, in Florida said a spokeswoman for the union of harbor pilots, who guide ships in and out of the port. As the 16-deck, 122,000-ton Celebrity Equinox cruise ship loomed over Bill and Yasmine Todhunter’s back patio on March 3, the alarmed couple recorded video of the scene, which they posted online.