May 25 Russia says it will pay foreign debt in rubles after ban from U.S. banks By Associated Press Russia says it will pay dollar-denominated foreign debt in rubles, a move that is likely to be seen by foreign investors as a default. Continue reading
May 25 Fed officials signal rates may head to 'restrictive' levels to stabilize economy By Christopher Rugaber, Associated Press Federal Reserve officials agreed when they met earlier this month that they might have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which has reached a four-decade high. Continue reading
May 24 Delaware governor vetoes marijuana legalization bill By Randall Chase, Associated Press Tuesday's veto came after Carney's repeated concerns in recent years about legalizing recreational pot. Those concerns did not dissuade fellow Democrats from pushing the legislation through the General Assembly. Continue reading
May 24 WATCH: FDA officials, baby formula company executives face scrutiny over national shortage By Matthew Perrone, Associated Press The head of the Food and Drug Administration faced bipartisan fury from House lawmakers Wednesday over months of delays investigating problems at the nation's largest baby formula plant that prompted an ongoing shortage. Continue reading
May 24 U.S. to end Russia's ability to pay off international debt By Ken Sweet, Fatima Hussein, Associated Press The U.S. will close the last avenue for Russia to pay back its billions in debt to international investors on Wednesday, making a Russian default on its debts for the first time since the Bolshevik Revolution all but inevitable. Continue reading
May 24 Safety rules keep competition out of infant formula market, set stage for shortages By Matthew Perrone, Associated Press A massive recall is getting most of the blame for the U.S. baby formula shortage, but experts say the products have long been vulnerable to this type of crisis. Continue reading
May 23 Californians could see mandatory water cuts amid continuing drought By Kathleen Ronayne, Associated Press The Democratic governor has called for a 15 percent voluntary reduction in water use but has so far avoided mandatory, sweeping cuts to water use. He may be changing his approach after water use went up dramatically in March. Continue reading
May 23 Zelenskyy calls for 'maximum' sanctions on Russia in virtual speech at Davos By Jamey Keaten, Associated Press Ukrainian President Volodymyr Zelenskyy is calling for "maximum" sanctions against Russia during a virtual speech at the World Economic Forum gathering in Davos, Switzerland. Continue reading
May 22 Taiwan left out of Biden's new Indo-Pacific pact By Aamer Madhani, Josh Boak, Associated Press The framework is meant to establish Biden’s economic strategy for the region. Inclusion of the self-ruled island of Taiwan, which China claims as its own, would have irked Beijing. Continue reading
May 22 World Economic Forum returns in Davos after pandemic pause By Jamey Keaten, Masha Macpherson, Associated Press Forum organizers have their work cut out for them with soaring food and fuel prices, Russia's war in Ukraine, climate change, drought and food shortages in Africa, yawning inequality between rich and poor, and autocratic regimes gaining ground in some… Continue reading