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US consumer inflation rises in August, bolstering Fed rate hike bets

"It wasn't as hot as yesterday's PPI, ‌but today's CPI left the Fed with less room to maneuver as it tries to maintain ​its inflation-fighting credentials," said Morgan Stanley Wealth Management exec

US senators call for AI rules after Anthropic researchers' safety warnings

OpenAI bats for safety rules OpenAI said it was pushing for mandatory national AI safety requirements in the US.

Trump administration mulls ending 60-day grace period for H-1B holders

The 60-day grace period, allows foreign workers time to find another U.S. ‌job or get their affairs in order - whether ​selling a home or pulling children out of ‌school - before leaving the country.

Trump urges Putin for swift end to Ukraine war, Russia ties reset: Kremlin

The call, which the Kremlin said lasted an hour, followed a weekend visit to Moscow and Kyiv ‌by U.S. envoys, who are trying ​to revive stalled talks designed to find a way ​to end the fighting.

US Labor Department suspends Cognizant's PERM filings amid investigation

Suspension prevents Cognizant from moving ahead with new PERM filings until an investigation into alleged fraud involving its visa programmes is completed

New York Mayor Mamdani bans AI tools till class VIII in NYC public schools

New York City Mayor Zohran Mamdani and the Schools Chancellor Kamar Samuels unveiled the new rule a week before classes begin on Sept. 10. It will apply to roughly 600,000 public school students

India backs US on global imbalances, but China blocks G20 consensus

G20 members failed to reach a joint statement after China opposed the proposal, contending with the Chair's statement.

US government backs OpenAI in New York Times', others' copyright case

US separately told G20 officials at a meeting in North Carolina on Wednesday that their countries should ‌embrace fair use and allow AI ​companies to train their models on creators' work

US private payroll growth slows in August; factory orders rebound in July

Education and health services payrolls increased by 45,000 positions. The leisure and hospitality sector added 16,000 jobs, while financial activities payrolls rose by 6,000.

Floods aftermath: Nepal seeks climate compensation from India, China, US

China, the US and India have made "extremely large" contributions to climate change and left smaller nations "enduring the price of it," Nepal's Foreign Minister Shisir Khanal told Kantipur TV.

US oil giant Chevron confirms it will expand operations in Venezuela

Oil giant Chevron is confirming that it will expand its operations in Venezuela, just days after President Donald Trump announced an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits. Chevron said Wednesday that it has been assigned additional acreage in the Orinoco Belt, where the company has an established position. Joint venture plans include investing more than USD 7 billion over the next five years, more than doubling production to approximately 6,00,000 barrels a day compared to 2026. "Chevron's history in Venezuela spans more than a century, and our expanded position reflects our confidence in the country's deep resource potential and its ability to compete for investment within our portfolio for decades," CEO Mike Wirth said in a prepared statement. "With improved terms and additional acreage, we are strengthening a portfolio that we believe can deliver attractive low-cost oil growth, support energy supply and create ...

Scott Bessent says US likely to announce Iran bank sanctions this week

Bessent said it could be entities, airline leasing companies. He added, "It could be anyone who does business with the IRGC. We are tracking down the IRGC's assets"

US Army Secy Dan Driscoll stepping down after 18 months on job: White House

No reason was given for the departure of Driscoll, who is a friend of Vice President J D Vance, but tensions with Defense Secretary Pete Hegseth have been widely reported

Punjabi Association seeks fair system after 94.1% asylum cases denied in US

The North American Punjabi Association (NAPA) on Tuesday expressed concern over US immigration court data showing that 94.1 per cent of asylum cases were denied in June 2026, while only 5.5 per cent were granted. NAPA Executive Director Satnam Singh Chahal said the high denial rate raised concerns about the fairness of the US asylum system. "We support the enforcement of US immigration laws and strongly oppose fraudulent asylum claims. However, genuine asylum seekers must get a fair chance to present their cases and evidence," Chahal said. The figures were reported by the Transactional Records Access Clearinghouse (TRAC). He said a denial rate of more than 94 per cent was very high and needed an independent examination. According to the TRAC, 279 immigration judges were either fired or resigned during fiscal years 2025 and 2026. Hundreds of new and temporary judges have also joined the immigration court system. Chahal said reducing the backlog of immigration cases is important, b

US huddles with G20 to try to rally allies on Iran as tariffs strain ties

US Treasury Secretary Scott Bessent is meeting with finance ministers of the world's largest economies this week at a time when the United States has disrupted the international order with aggressive tariffs on major allies and an unpopular war on Iran that is keeping gas prices high for consumers. As Bessent opened meetings of the Group of 20 finance ministers in Asheville on Monday, he said he wants to focus on ways to grow the global economy and rein in mounting debt. But the event comes after hostilities renewed between the US and Iran, and as trade friction with Canada spiked following a breakdown in negotiations that led to escalating tariffs. Bessent told The Associated Press in an interview on Sunday that he plans to turn up pressure on Iran by sanctioning another bank, part of what he is calling "Operation Economic Outcast." He said the administration is prepared to exact "financial violence if we have to." Asked by reporters Monday how long it would take for the Iranian ..

Donald Trump signs order to create US Space Academy amid space race push

Trump said the academy would help train the service members, engineers and civilian operators needed as ​the US Space Force and commercial space industry ​grow and Washington expands its ambitions

US judge won't immediately block Trump's new birthright citizenship order

US District Judge rejected immigrant rights advocates' request to temporarily halt Trump's latest order limiting eligibility for birthright citizenship.

Kevin Warsh says inflation isn't slowing, vows to hit Fed's 2% target

Warsh added that financial conditions are not currently restrictive and that interest rates are the Fed's "predominant tool" for achieving its mandate.

Scott Bessent and Kevin Warsh diverge on who should set the price of money

Warsh has advocated retreating from some of the central bank's longstanding communication policies in favor of letting markets do the heavy lifting, while Bessent has deployed a number of tools

US economy growth sluggish at 1.5% in Q2, consumer spending rises 3.4%

The US economy grew at a sluggish 1.5 per cent pace from April through June. But consumer spending stayed strong. The Commerce Department reported Wednesday that growth in gross domestic product - the nation's output of a goods and services - decelerated from a 2.1 per cent pace from January through March. The second-quarter growth number was unchanged from the department's first estimate. Still, consumer spending - which accounts for about 70 per cent of US economic activity - increased at a healthy 3.4 per cent annual clip, up from 0.5 per cent in the January-March period. The reason for the lackluster growth number was imports. They are subtracted from growth because GDP is only supposed to count domestic US production. Imports rose at a 12.5 per cent annual pace from April through June, partly due to a surge in shipments of computer chips and other products that support artificial intelligence investment, and sliced 1.64 percentage points off second-quarter growth. But business