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BofA beats Q3 profit estimates on gains from higher interest rates

The second-largest US bank's consumer business reported a 12% jump in revenue, helped by higher balances and a rise in interest rates and a 9% jump in combined credit and debit card spend

Suspected Chinese spy infiltrated US politics through Trump: Report

Chinese businessman Tao Liu, who has a criminal background in China and is termed a fugitive, has recently met former US president Donald Trump in September

GOP hopefuls approach Mike Pence to broaden appeal before midterm elections

In Donald Trump's assessment, Mike Pence committed political suicide" on Jan 6, 2021. By refusing to go along with the then-president's unconstitutional push to overturn the results of the 2020 election, Pence became a leading target of Trump's wrath and a pariah in many Republican circles. But the final weeks of this year's intensely competitive midterm elections suggest that the former vice president's fortunes have shifted as he lays the groundwork for his own potential 2024 White House campaign. The man who was booed last year at a conservative conference is now an in-demand draw for Republican candidates, including some who spent their primaries obsessively courting Trump's endorsement, in part by parroting his election lies. Pence has travelled the country, holding events and raising millions for candidates and Republican groups, including signing fundraising solicitations for party committees. For some campaigns in tight races, Pence is seen as something of a neutralizing ag

Joe Biden turning to Trump-era rule to expel Venezuelan migrants

Two years ago, candidate Joe Biden loudly denounced President Donald Trump for immigration policies that inflicted cruelty and exclusion at every turn, including toward those fleeing the "brutal" government of socialist Nicolas Maduro in Venezuela. Now, with increasing numbers of Venezuelans arriving at the US-Mexico border as the Nov 8 election nears, Biden has turned to an unlikely source for a solution: his predecessor's playbook. Biden last week invoked a Trump-era rule known as Title 42 -- which Biden's own Justice Department is fighting in court to deny Venezuelans fleeing their crisis-torn country the chance to request asylum at the border. The rule, first invoked by Trump in 2020, uses emergency public health authority to allow the United States to keep migrants from seeking asylum at the border, based on the need to help prevent the spread of COVID-19. Under the new Biden administration policy, Venezuelans who walk or swim across America's southern border will be expelled

Suspect in North Carolina's Raleigh mass shooting arrested in Georgia

The suspect in the shooting incident in Raleigh city, in the US state of North Carolina, that resulted in the killing of five people has been arrested in Georgia by police officials

Asian govts spent $50 bn in Sept to defend currencies from strong US dollar

Dollar sales in the region over the first nine months of the year have reached approximately $89 billion including Japan, marking the most active period for foreign-exchange expenditures

Worsening inflation in US will pressure Fed to keep raising interest rates

Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains and ensuring that the Federal Reserve will keep raising interest rates aggressively. Consumer prices, excluding volatile food and energy costs, jumped 6.6 per cent in September from a year ago the fastest such pace in four decades. And on a month-to-month basis, such core prices soared 0.6 per cent for a second straight time, defying expectations for a slowdown and signalling that the Fed's multiple rate hikes have yet to ease inflation pressures. Core prices typically provide a clearer picture of underlying price trends. Overall prices rose 8.2 per cent in September compared with a year earlier, down slightly from August, the government said on Thursday in its monthly inflation report. But from August to September, prices increased 0.4 per cent, faster than the July-to-August increase. Though cheaper gas helped slow the

'Soft landing' is unlikely for US economy, says JP Morgan's Jamie Dimon

Jamie Dimon said the Federal Reserve probably can't cool the red-hot economy without bringing on a recession.

Biden administration extends Covid public health emergency till Jan 11

The Biden administration said on Thursday that the COVID-19 public health emergency will continue through January 11 as officials brace for a spike in cases this winter. The decision comes as the pandemic has faded from the forefront of many people's minds. Daily deaths and infections are dropping and people many of them maskless are returning to schools, work and grocery stores as normal. The public health emergency, first declared in January 2020 and renewed every 90 days since, has dramatically changed how health services are delivered. The declaration enabled the emergency authorisation of COVID vaccines, testing and treatments for free. It expanded Medicaid coverage to millions of people, many of whom who will risk losing that coverage once the emergency ends. It temporarily opened up telehealth access for Medicare recipients, enabling doctors to collect the same rates for those visits and encouraging health networks to adopt telehealth technology. Since the beginning of thi

US Supreme Court rejects Trump's plea for legal fight into Mar-a-Lago case

The Supreme Court on Thursday rejected former President Donald Trump's plea to step into the legal fight over the FBI search of his Florida estate. The justices did not otherwise comment in turning away Trump's emergency appeal. Trump had pressed the court on an issue relating to classified documents seized in the search authorized by a federal judge of Mar-a-Lago. The Trump team was asking the justices to overturn a lower court ruling and permit an independent arbiter, or special master, to review the roughly 100 documents with classified markings that were taken in the Aug. 8 search of Mar-a-Lago. A three-judge panel from the Atlanta-based U.S. Court of Appeals for the 11th Circuit last month limited the special master's review to the much larger tranche of non-classified documents. The judges, including two Trump appointees, sided with the Justice Department, which had argued there was no legal basis for the special master to conduct his own review of the classified records. Bu

New York Attorney General moves court to block Trump from moving assets

New York Attorney General Letitia James has asked a state court to block the Trump Organization from moving its assets from Manhattan to an entity in Delaware and continuing "it's decade long fraud"

Active shooting underway at residential area of Raleigh in North Carolina

An active shooter is on the loose in a residential area of Raleigh in the US state of North Carolina, police said on Thursday

India calls for collective prevention of aggravating risks: FM Sitharaman

: Union Finance Minister Nirmala Sitharaman on Thursday called for collective responsibility to prevent the risks from aggravating. Sitharaman said that India's efforts will be to encourage conversations that recognise our inter-dependencies, our shared wisdom, and our collective aspiration for a safe, peaceful and prosperous world. Today's global economy faces a confluence of challenges and it is our collective responsibility to prevent the risks from aggravating, the finance minister said in her speech during the closing session of the G-20 finance ministers and central bank governors here being held on the sidelines of the annual meetings of the International Monetary Fund and the World Bank. India will head the annual rotating presidency of G-20 next year. In her remarks, the finance minister said that India views the hosting of the G20 Presidency as an opportunity as well as a responsibility. Rebuilding trust in multilateralism is at the core of India's thinking, she told her

US dollar surges to new 24-year high versus yen; sterling rallies

The dollar climbed to a fresh 24-year peak versus the yen on Wednesday, holding above levels that prompted intervention by Japanese officials last month

Govt permits exporters to ship raw sugar to US under TRQ till Dec 31

The government on Wednesday permitted the export of specified quantity of raw sugar to the US under the Tariff-Rate Quota (TRQ) till December-end this year. Earlier, it was permitted till September 30. "The validity for export of raw sugar to the US under TRQ has been extended from September 30, 2022 to December 31, 2022," the Directorate General of Foreign Trade (DGFT) said in a public notice. TRQ is a quota for a volume of exports that enters the US at relatively low tariffs. After the quota reaches its limit, a higher tariff is applicable to additional shipments. In May, the government permitted additional export of 2,051 metric tonne of raw sugar under the TRQ to the US for its fiscal year ending September 30, 2022. With this quantity, total sugar export to the US under TRQ during its fiscal year 2022 would be 10,475 MT. India, the world's second-biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as

Chiranjeevi, Salman Khan starrer 'GodFather' breaches $1.1 mn mark in US

Megastar Chiranjeevi and Superstar Salman Khan's latest movie 'GodFather' has breached the 1.1 million dollar mark in the US and still going strong

Biden to mark Diwali at White House on Oct 24, Trump at his Florida resort

US President Joe Biden plans to celebrate Diwali at the White House on October 24 while his predecessor Donald Trump is working on celebrating the festival of lights at his Mar-a-Lago resort in Florida on October 21. Biden plans to celebrate Diwali with eminent members of the Indian American community and members of his administration. First Lady Jill Biden will also join the festivities at the White House on October 24. Details of Diwali celebrations at the White House are still being worked out. Meanwhile, the Republican Hindu Coalition (RHC) on Tuesday announced that Trump would celebrate Diwali with its members and Indian American community leaders at his Mar-a-Lago resort on October 21. It is being planned for four hours, said Shalabh Kumar from RHC, adding that the Trump team was exploring the possibilities of fireworks as well.

Man charged for Sikh family's kidnapping, murder in California: Authorities

The man involved in the kidnapping and killing of an Indian-origin Sikh family, including an eight-month-old baby, has been charged with four counts of first-degree murder, one for each life lost, authorities in California said. The Sikh family of four, 8-month-old Aroohi Dheri, her 27-year-old mother Jasleen Kaur, her 36-year-old father Jasdeep Singh, and her 39-year-old uncle Amandeep Singh were kidnapped and killed by a former disgruntled employee of their trucking company last week. Jesus Salgado, the man involved in the kidnapping and killing was arrested on October 6. He was charged on Monday with four counts of first-degree murder, one for each life lost, prosecutors were quoted as saying by the Los AngelesTimes. The Merced County district attorney's office said in a news release that it would not make a determination this year on whether to pursue the death penalty in the case of Salgado, 48. District Attorney Kimberly Lewis declined to comment on the case beyond the charge

28 dead as Hurricane Julia drenches Central America with heavy rainfall

Now a tropical depression, former Hurricane Julia drenched Guatemala and El Salvador with torrential rains Monday after it reemerged in the Pacific following a pounding of Nicaragua. At least 19 people were reported dead as a direct or indirect result of the storm. Guatemala's disaster prevention agency said five people died after a hillside collapsed on their house in Alta Verapaz province, burying them. Authorities in El Salvador said five Salvadoran army soldiers died after a wall collapsed at a house where they sought refuge in the town of Comasagua, where hundreds of police and soldiers have been conducting anti-gang raids. Another soldier was injured. Two other people died in the eastern El Salvador town of Guatajiagua after heavy rains caused a wall of their home to collapse. Another man in El Salvador died when he was swept away by a current, and another died when a tree fell on him. Rivers overflowed their banks and El Salvador declared a state of emergency and opened 80

1 dead, 6 injured after shooting at downtown nightclub in Florida's Tampa

One person was killed and six people were injured in a shooting early Sunday morning at a downtown nightclub in the US state of Florida, police officials said.The police said that they are investigating a shooting that occurred at a downtown nightclub in Tampa."Just before 3 am on October 9, officers responded to the report of shots fired near the LIT Cigar & Martini Lounge at 908 N Franklin St. Officers arrived to find one adult male victim deceased on scene from an apparent gunshot wound," Tampa Police said in a statement posted on Twitter."Six additional gunshot victims, four adult males and two adult females, were transported to nearby hospitals with non-life-threatening injuries," the statement added.The police said a preliminary investigation suggests that a verbal altercation occurred between two large parties inside the lounge.The parties were escorted outside, where the altercation escalated when at least one suspect went to a vehicle to retrieve a gun and fired ...