Jan 19 Treasury Secretary Yellen kickstarts Biden administration visit to Africa By Fatima Hussein, Associated Press The Biden administration's big push to engage more with Africa is underway as Treasury Secretary Janet Yellen begins a 10-day visit aimed at promoting all the economic possibilities that lie between the U.S. and the world's second-largest continent. Continue reading
Jan 18 Watch 4:43 News Wrap: Report shows new signs of easing inflation In our news wrap Wednesday, there are fresh signs that inflation is easing as U.S. wholesale prices slowed again, some major California roadways remained closed after weeks of storms and flooding and Israeli Prime Minister Benjamin Netanyahu's right-wing coalition suffered… Continue watching
Jan 18 Watch 4:41 Massive tech layoffs, slowing growth boost fears of possible recession By Geoff Bennett The job cuts in big tech are piling up. Microsoft said it's laying off 10,000 employees and Amazon started a fresh round of job cuts in what’s expected to become the largest workforce reduction in its 28-year history. It all… Continue watching
Jan 18 Analysis: What is the debt ceiling? By Steven Pressman, The Conversation Treasury Secretary Yellen announced the U.S. will hit its $31 trillion debt ceiling on Jan. 19. Economists and markets are worried Congress won’t act in time, which could trigger a financial crisis. Continue reading
Jan 18 WATCH: White House press secretary Karine Jean-Pierre holds news briefing as the nation's debt ceiling deadline approaches By Associated Press As the clock ticks down to the nation's debt ceiling deadline, the White House on Wednesday urged Republicans in Congress to work with President Joe Biden to avoid a potentially dangerous default. Continue reading
Jan 18 WATCH: Justice Department announces arrest of Russian cryptocurrency founder By Eric Tucker, Josh Boak, Associated Press A Russian national who founded a cryptocurrency exchange that the Justice Department says became a haven for the proceeds of criminal activity has been arrested, federal officials said Wednesday. Continue reading
Jan 18 Microsoft cuts 10,000 jobs globally, about 5 percent of workforce By Matt O'Brien, Associated Press Microsoft is cutting 10,000 workers, almost 5% of its workforce, as it joins other tech companies in a scaling back of their pandemic-era expansions. Continue reading
Jan 17 Watch 4:55 How China's population decline could alter the global economy By Geoff Bennett, Teresa Cebrian Aranda The world’s most populous country hit a historic turning point. China announced its first population decline in six decades with 850,000 fewer people at the end of last year than in 2021. Pulitzer Prize-winning author and journalist Mei Fong joined… Continue watching
Jan 17 Watch 8:49 Economists and business leaders raise alarm about looming debt ceiling deadline By Laura Barrón-López, Kyle Midura The U.S. is expected to bump into its borrowing limit in just a few days. The Treasury Department said it is taking "extraordinary measures" to allow the country to keep paying its debts for now, but Congress must vote to… Continue watching
Jan 17 Stocks edge lower on Wall Street amid uncertain trading By Damian J. Troise, Alex Veiga, Associated Press Stocks edged mostly lower in uncertain trading on Wall Street to kick off a holiday-shortened, but earnings-heavy week. Continue reading