Global News for You – Top News – Current News
Sri Lanka is undergoing one of the most complex economic recoveries in its history. The country’s financial collapse in 2022 was precipitated by a toxic mix of unsustainable borrowing, poor fiscal management, and external shocks. Mass protests erupted under the banner of Aragalaya, a broad-based citizens’ movement demanding accountability, economic justice, and an end to…
On July 3, the United States House of Representatives passed President Donald Trump’s signature tax cut and spending package, which he has called the “One Big Beautiful Bill“. The bill combines tax reductions, spending hikes on defence and border security, and cuts to social safety nets. Democratic Minority Leader Hakeem Jeffries warned that the bill “hurts…
The United States Federal Reserve has left its benchmark rate unchanged despite mounting pressure from President Donald Trump to cut rates. On Wednesday, the Fed said it will leave its short-term rate steady at 4.25 percent to 4.5 percent. The central bank’s decision was largely in line with expectations, and it has not cut interest…
Elon Musk, CEO of Tesla and self-proclaimed “first buddy” of President Donald Trump, has stepped up criticism of the president’s massive tax legislation in recent days. Investors are starting to notice. Tesla shares dropped nearly 9 percent on Thursday on a day otherwise devoid of news for the electric vehicle maker, leading traders to speculate…
On Sunday, a key congressional committee in the United States approved President Donald Trump’s new tax cut bill, which could pass in the House of Representatives later this week. The bill extends Trump’s 2017 tax cuts and may add up to $5 trillion to the national debt, deepening worries after a recent US credit ratings…
Moody’s cited rising debt, saying US had repeatedly failed to end the trend of large annual fiscal deficits and interest. Moody’s Ratings has stripped the United States government of its top credit rating, citing successive governments’ failure to stop a rising tide of debt, a surprise move that could complicate President Donald Trump’s efforts to…
Officials, including California’s attorney general, question what will happen to the data collected by the firm. Genetic testing firm 23andMe has filed for Chapter 11 bankruptcy protection in the United States amid weak demand and losses from a 2023 data breach. Its co-founder and CEO has resigned. San Francisco-based 23andMe announced on Sunday that it…
Consumer watchdog said new rule would lead to rising credit scores and an additional 22,000 low-cost mortgages annually. Two groups representing the credit reporting and credit union industries have filed a lawsuit challenging a new rule adopted by US President Joe Biden’s outgoing administration banning the inclusion of medical debt in American consumers’ credit reports….
