Page 126 - United States

US economy grew at 3% rate last quarter, govt says in final estimate

The American economy expanded at a healthy 3% annual pace from April through June, boosted by strong consumer spending and business investment, the government said Thursday, leaving its previous estimate unchanged. The Commerce Department reported that the nation's gross domestic product the nation's total output of goods and services growth picked up sharply in the second quarter from the tepid 1.6% annual rate in the first three months of the year. Consumer spending, the primary driver of the economy, grew last quarter at a 2.8% pace, down slightly from the 2.9% rate that the government had previously estimated. Business investment was also solid: It increased at a vigorous 8.3% annual pace last quarter, led by a 9.8% rise in investment in equipment. The U.S. economy, the world's biggest, displayed remarkable resilience in the face of the 11 interest rate hikes the Federal Reserve carried out in 2022 and 2023 to fight the worst bout of inflation in four decades. Since peaking at

Judges to hear arguments in Donald Trump's appeal of civil fraud verdict

As Donald Trump hits the homestretch of his White House run, the former president's lawyers are heading to a New York appeals court in a bid to overturn a civil fraud judgment that could cost him nearly USD 500 million. The Republican presidential nominee has given no indication that he plans to attend Thursday's arguments before a five-judge panel in the state's mid-level appellate court in Manhattan. The hearing is scheduled to start at noon and is expected to be streamed online. Trump is asking the court to reverse Judge Arthur Engoron's ruling in February that he lied about his wealth on paperwork given to banks, insurers and others to make deals and secure loans. The verdict cut to the core of Trump's wealthy, businessman persona. Trump has decried the outcome in New York Attorney General Letitia James' lawsuit against him as election interference and accused Engoron of punishing him for having built a perfect company. His lawyers contend the verdict was grossly unjust and shou

US, allies call for 'immediate' 21-day ceasefire between Israel, Hezbollah

France's foreign minister has said that his country and the United States are working on a proposal for a 21-day ceasefire proposal to allow for negotiations in the conflict between Israel and Hezbollah in Lebanon. Jean-Nol Barrot told the UN Security Council on Wednesday that the proposal would be released shortly. We are counting on both parties to accept it without delay, he said. Earlier, President Joe Biden said that fighting between Israel and Hezbollah threatens to become an all-out war as his top diplomat and other advisers worked behind the scenes pressing for a temporary cease-fire to calm an escalating conflict that has killed more than 600 people in Lebanon in recent days. Secretary of State Antony Blinken said the US administration was "intensely engaged with a number of partners to de-escalate tensions in Lebanon and to work to get a ceasefire agreement that would have so many benefits for all concerned". Blinken and other Biden advisers have spent the past three day

Unit X explores US military's shift to Silicon Valley tech for defence

Unit X offers a fascinating account of America's efforts to stay ahead in a rapidly shifting geopolitical landscape

After Donald Trump, Kamala Harris' campaign office targeted, police say

Kamala Harris' campaign office in Arizona, was shot on Monday, the police said. A probe was launched into the incident, which occurred days after Donald Trump was targeted while golfing in Florida

Nippon Steel's Mori asks United Steelworkers leadership to come to table

The companies plan to close the deal by the end of December, pending regulatory approvals

West Africa becomes global terrorism hotspot as Western forces leave

The Sept. 17 attack was the most brazen since 2016 in a capital city in the Sahel, a vast arid region stretching across sub-Saharan Africa south of the Sahara Desert

Vietnamese, US firms sign MoUs on energy, AI, data centre: Vietnam govt

Vietnam has long sought an upgrade, which would reduce punitive anti-dumping duties levied on non-market economies identified as having a heavy state influence

US urges Israel to extend banking relations with Palestinian banks for year

The banking correspondence authorisation is due to expire on Oct. 31, posing risks to export and import transactions valued at nearly $10 billion, Treasury officials have said

Boeing crisis sparks US FAA to revamp safety programmes to avoid risks

FAA audits revealed a series of manufacturing and safety lapses at Boeing after a fuselage panel blew off a 737 Max jet shortly after takeoff in January

Visa faces US DOJ antitrust case over illegally monopolising debit card mkt

The government's allegations include that Visa made exclusive agreements to hinder the expansion of competing networks and thwarted efforts by technology companies to enter the market

Search underway for suspects in Alabama shooting that killed 4, injured 17

Authorities have reported no immediate arrests after a weekend mass shooting killed four people and left 17 others injured in what police described as a targeted hit by multiple shooters who opened fire outside a popular Alabama nightspot. The shooting late Saturday night in the popular Five Points South entertainment district of Birmingham, rocking an area of restaurants and bars that is often bustling on weekend nights. The mass shooting, one of several this year in the major city, unnerved residents and left officials at home and beyond pleading for help to both solve the crime and address the broader problem of gun violence. The priority is to find these shooters and get them off our streets, Birmingham Mayor Randall Woodfin said a day after the shooting. The mayor planned a morning news conference Monday to provide updates on the case. The shooting occurred on the sidewalk and street outside Hush, a lounge in the entertainment district, where blood stains were still visible on

President Zelenskyy travels to US with 'victory plan' at perilous moment

The Ukrainian leader has said he wants to present the plan to President Joe Biden and his two potential successors

Another example of shared commitment to preserve heritage: Garcetti

Amid Prime Minister Narendra Modi's visit, US has formally handed over 297 antiquities that were stolen or trafficked from India

US Cong leaders agree on 3-month funding, avoiding shutdown before Oct 1

Congressional leaders announced an agreement Sunday on a short-term spending bill that will fund federal agencies for about three months, averting a possible partial government shutdown when the new budget year begins October 1 and pushing final decisions until after the November election. Lawmakers have struggled to get to this point as the current budget year winds to a close at month's end. At the urging of the most conservative members of his conference, House Speaker Mike Johnson, R-La., had linked temporary funding with a mandate that would have compelled states to require proof of citizenship when people register to vote. But Johnson could not get all Republicans on board even as the party's presidential nominee, Donald Trump, insisted on that package. Trump said Republican lawmakers should not support a stop-gap measure without the voting requirement, but the bill went down to defeat anyway, with 14 Republicans opposing it. Bipartisan negotiations began in earnest shortly .

We are voice of Global South, world listens when India speaks: PM Modi

PM Modi said that now India does not lag behind, it creates new systems and leads. India has given the new concept of digital public infrastructure (DPI) to the world

Enhanced checks blocked gun sales to youth, domestic abusers: White House

US surgeon general declared gun violence a public health crisis in June, calling for more research funding, better mental health access and other steps such as secure storage

Centre probing Netflix for visa violations, racial bias, shows email

The details of India's investigation were included in a July 20 email, reviewed by Reuters, which was written by a home ministry official to Netflix's former director of business and legal affairs

India signs IPEF's clean, fair economy agreement as PM Modi visits US

The pacts were signed during Prime Minister Narendra Modi's three-day visit to the US for the Quad Summit

India beating US, China's consumption rates of premium spirits: Researcher

India's rising affluent class is fuelling a surge in high-end spirits sales, with Scotch whisky and fine wines registering double-digit growth, outpacing consumption rates in the US and China, according to a Switzerland-based researcher. "One subcategory where India surpasses China and is growing at double the rate of the USA over a five-year CAGR is Scotch luxury whisky," Simon Joseph, a senior luxury brand builder and consumer experience expert based in Zurich, said. Joseph, a researcher with Glion Institute of Higher Education, said according to various data forecasts, the luxury Scotch whisky market is also growing at 16 per cent CAGR up to 2024-end. Scotch whisky exports to India grew at a compound annual growth rate of 66% up to 2022, outpacing the US, China, and other significant markets, Joseph said, citing data from the UK-based Scotch Whisky Association (SWA). According to the UK-based SWA data, the equivalent of 167 million bottles were exported to India in 2023, up 27%