Mar 16 European Central Bank backs big interest rate hike despite global bank chaos By David McHugh, Associated Press The European Central Bank has carried through with a large interest rate increase, brushing aside predictions it might dial back as U.S. bank collapses and troubles at Credit Suisse feed fears about the impact of higher rates on the global… Continue reading
Mar 15 First major U.S. railroad merger in approved to go forward By Josh Funk, Michelle Chapman, Associated Press The first major railroad merger in more than two decades, one that would link the United States, Canada and Mexico, is being approved by federal regulators. Continue reading
Mar 15 Watch 6:26 Global markets tumble as Credit Suisse acknowledges signs of instability By William Brangham, Diane Lincoln Estes, Ryan Connelly Holmes Trouble at a major European bank injected fresh fear into global financial markets. Shares in Credit Suisse plunged after its largest lender ruled out a rescue. That touched off a broader sell-off a day after Wall Street appeared to weather… Continue watching
Mar 15 Watch 4:09 News Wrap: EPA issues rule to curb downwind pollution by power plants In our news wrap Wednesday, the EPA issued a rule to curb smokestack emissions that bring smog to downwind areas, the state of Texas announced it's taking over public schools in Houston, Russia and the U.S. had high-level discussions on… Continue watching
Mar 15 New EPA 'good neighbor' rule aims to cut downwind pollution by power plants By Matthew Daly, Associated Press A new "good neighbor" rule issued by the Environmental Protection Agency will restrict smokestack emissions from power plants and other industrial sources that burden downwind areas with smog-causing pollution they can't control. Continue reading
Mar 15 How the digital era helped speed up bank runs By Ken Sweet, Stan Choe, Associated Press What made the failure of Silicon Valley Bank unique compared to past failures of large banks was how quickly it collapsed. Last Wednesday afternoon, the $200 billion bank announced a plan to raise fresh capital; by Friday morning it was… Continue reading
Mar 15 Garbage piles up as French strike nationwide over pension change By Sylvie Corbet, Associated Press French people hoping to preserve their retirement benefits took to the streets in a nationwide protest on Wednesday as a committee of lawmakers meeting behind closed doors validated the wording of President Emmanuel Macron's unpopular pension plan. Continue reading
Mar 15 Honda recalling 500,000 vehicles to fix seat belt issue By Associated Press The recall covers some of the the automaker's top-selling models including the 2017 through 2020 CR-V, the 2018 and 2019 Accord, the 2018 through 2020 Odyssey and the 2019 Insight. Continue reading
Mar 15 Credit Suisse shares plunge, drag down European lenders By Jamey Keaten, David McHugh, Associated Press Shares in the globally connected Swiss bank Credit Suisse plunged and dragged down other major European lenders. Continue reading
Mar 15 As fears renews of bank weakness, stocks tumble on Wall Street By Stan Choe, Associated Press Stocks are falling sharply on Wall Street as worries worsen about the strength of banks on both sides of the Atlantic. Continue reading