The largest US banks would withstand a severe recession and still be able to lend to American households and businesses, the Federal Reserve announced Thursday. The results of the first part of the central bank’s so-called stress tests showed 34 major lenders were on solid capital footing, the Fed said. The tests are conducted under … Read more
Chinese overproduction is sending the US aluminum industry into near collapse, endangering supplies of materials critical to American defense and national security, manufacturers told a public hearing on Thursday. However, several industry representatives cautioned against imposing tariffs on Canadian exports, saying production in that country was closely intertwined with the US industry. As part of … Read more
Friends and family members are gathering in Ohio to say goodbye to an American student who just six died days after being returned to the United States in a coma following 17 months in captivity in North Korea. Otto Warmbier, 22, was arrested in the reclusive communist country while visiting as a tourist. He was … Read more
Closer ties between Saudi Arabia and US President Donald Trump’s administration helped pave the way for a succession shake-up making a 31-year-old prince the kingdom’s de facto ruler, analysts say. On Wednesday King Salman, 81, named his son Mohammed bin Salman crown prince and heir to the throne after firing Mohammed bin Nayef, whose counter-terrorism … Read more
“There is little doubt that the US financial system is stronger today than it was a decade ago,” Jerome Powell said in testimony to be delivered before the Senate Banking Committee, but “we must also be vigilant against new risks that may develop” The US Federal Reserve is open to easing some banking regulations put … Read more
United Nations Secretary-General Antonio Guterres warned the Trump administration on Tuesday that if the United States disengages from the international community it will be replaced – saying that won’t be good for America or for the world. At his first press conference since taking the reins of the United Nations on January 1, Guterres also … Read more
In the past five days, nearly 100 Ghanaians have been deported from the U. S. The number is expected to grow, according to reports that the Trump administration will remove 7,000 Ghanaians from the U.S. before the end of the year. Though Ghana is a stable nation, with no recorded wars since the middle of … Read more
The U. S. Global AIDS Coordinator, Ambassador-at-Large, Deborah L. Birx, M.D., Thursday signed the Nigeria HIV/AIDS Country Operational Plan (COP 2017). “Right here, right now, in this effort, Nigerians working with the United States can change the course of Nigeria’s history for ever when it comes to health,” Ambassador Symington said. The Country Operational Plan … Read more
The chairman of a Chinese insurance group that sought a business deal with the family of US President Donald Trump’s son-in-law has stepped aside following a report that he was taken away by authorities. Officials from the China Insurance Regulatory Commission notified Anbang that Wu was “taken away” on Friday, but they did not explain … Read more
US Attorney General Jeff Sessions has denied during a Congress hearing having undisclosed meetings with Russian officials at a Washington DC hotel. America’s top law official also told the Senate Intelligence Committee any suggestion he colluded with the Kremlin was “an appalling and detestable lie”. Mr Sessions also repeatedly refused to answer questions about his … Read more
The Trump administration has said it wants to ease oversight of smaller banks and curb the Consumer Financial Protection Bureau’s powers. The report from the Treasury Department outlined administration priorities for rolling back rules imposed on the financial sector after the 2008 crisis. It comes just days after the House of Representatives approved a sweeping … Read more
President Donald Trump will host South Korea’s new leader Moon Jae-In for talks on containing North Korea’s nuclear program, officials said Tuesday, amid fresh Pentagon warnings that the Pyongyang regime is a ‘clear and present danger to all.’ A White House statement said the two leaders will meet June 29-30 to discuss ways of building … Read more
North Korea has released American student Otto Warmbier from a 15-year sentence of hard labour, US officials said Tuesday, as the 22-year-old’s parents told media he has been medically evacuated in a coma from the reclusive country. Secretary of State Rex Tillerson confirmed the release of the student, who was arrested in 2016 for stealing … Read more
US President Donald Trump on Tuesday took a swipe at a federal court that upheld a block on his controversial travel ban targeting citizens from six Muslim majority nations. “Well, as predicted, the 9th Circuit did it again – Ruled against the TRAVEL BAN at such a dangerous time in the history of our country. … Read more
Flamboyant former NBA star Dennis Rodman arrived in North Korea Tuesday after saying he wants to “open the door” to the regime and claiming that US President Donald Trump would be pleased with his mission. Sporting a baseball cap, sunglasses, multiple facial piercings and a black t-shirt emblazoned with the logo of sponsor PotCoin — … Read more
Pentagon chief Jim Mattis claimed he was ‘shocked’ by the state of the US military’s readiness, blaming legal budget caps and the grind of 16 years of constant war. The defense secretary also warned the House Armed Services Committee that North Korea has become the most urgent threat to peace and security, and said – … Read more
Flamboyant former NBA star Dennis Rodman is expected to arrive in Pyongyang Tuesday, US media reported, with the heavily-tattooed former player apparently set for another round of his controversial “basketball diplomacy”. The eccentric ex-Chicago Bulls power forward made at least four visits to Pyongyang, most recently in 2014 when he attracted a deluge of criticism … Read more
Donald Trump is considering firing former FBI chief Robert Mueller, the special counsel investigating if Russia colluded in last year’s bitter election campaign, a friend of the US president said Monday. Newsmax Media CEO Christopher Ruddy made the comments on the eve of testimony at the Senate Intelligence Committee by US Attorney General Jeff Sessions … Read more
Iraqi Christians in the US are expressing alarm over the arrests of Chaldean immigrants in the Detroit area for deportation back to the war-torn nation, where they could face persecution. A number of Chaldeans, part of an ancient Christian minority in Iraq, were detained Sunday in an enforcement sweep, US Immigration and Customs Enforcement (ICE) … Read more
A first full meeting of Donald Trump’s cabinet featured effusive praise of the embattled president Monday, a bid to project success that prompted ridicule and criticism from some quarters. Trump kicked off the meeting by claiming that his White House had achieved “amazing results” and had “been about as active as you can possibly be … Read more