Dec 14 WATCH: Senate hearing indicates regulation may be on the way for cryptocurrency By Glenn Gamboa, Associated Press Whether increased regulation would have prevented the spectacular collapse of cryptocurrency exchange FTX was fiercely debated at a hearing of the Senate’s banking committee Wednesday. However, new legislation is potentially on the way. Continue reading
Dec 14 WATCH: Federal Reserve Chair Powell announces small rate hike as inflation cools By Christopher S. Rugaber, Associated Press The Federal Reserve reinforced its inflation fight by raising its key interest rate for the seventh time this year and signaling more hikes to come. Continue reading
Dec 13 Watch 4:47 News Wrap: Labor Department report shows inflation is slowing In our news wrap Tuesday, the U.S. economy is giving fresh hope that the worst of inflation may have passed, stocks surged on the inflation news then eased back to wait for Wednesday's interest rate decision, a French court convicted… Continue watching
Dec 13 Watch 8:38 FTX founder Sam Bankman-Fried indicted on battery of fraud charges By John Yang, Alexis Cox Federal prosecutors unveiled a battery of charges against Sam Bankman-Fried, founder of the bankrupt cryptocurrency exchange FTX. They include wire fraud, money laundering and lying to investors. Bankman-Fried was arrested Monday in the Bahamas just hours before he was scheduled… Continue watching
Dec 13 U.S.-Africa Leaders Summit opens with focus on youth, security By Matthew Lee, Aamer Madhani, Associated Press Harris has opened the U.S.-Africa Leaders Summit in Washington by spotlighting Africa's youthful population. She's making the case that the continent's demographics will inevitably lead it to become a key global player in the decades to come. Continue reading
Dec 13 WATCH: Current FTX CEO says lax oversight, bad decisions caused failure By Glenn Gamboa, Associated Press The new CEO of the failed cryptocurrency exchange FTX is appearing before a House committee Tuesday, detailing for lawmakers the lack of oversight and financial controls that he discovered since taking over the company a month ago. Continue reading
Dec 13 WATCH: U.S. Attorney’s office gives update on the arrest of FTX founder Sam Bankman-Fried By Ken Sweet, Associated Press U.S. prosecutors gave more details about the criminal charges filed against FTX founder Sam Bankman-Fried Tuesday, including an allegation that he made illegal campaign contributions totaling in the "tens of millions of dollars."… Continue reading
Dec 13 New Zealand passes lifetime ban on youth buying cigarettes By Nick Perry, Associated Press New Zealand has passed into law a unique plan to phase out tobacco smoking by imposing a lifetime ban on young people buying cigarettes. Continue reading
Dec 13 Slowdown in inflation eases some pressure on American households By Christopher Rugaber, Associated Press Inflation in the United States slowed again last month in the latest sign that price increases are cooling despite the pressures they continue to inflict on American households. Continue reading
Dec 13 WATCH: ‘Economic plan is working’ to slow inflation, Biden says By Christopher Rugaber, Associated Press Consumer prices rose 7.1 percent in November from a year ago, the government said Tuesday. That was down from 7.7 percent in October and a recent peak of 9.1 percent in June. Continue reading