The Fed Raised Rates. What Comes Next?

Images show heavy damage from Iran strikes targeting US bases: report

WASHINGTON — A destroyed aircraft, shredded tents, trailers that have been ripped apart: images taken by U.S. troops show significant damage from Iranian strikes targeting American military assets in the Middle East, CBS News reported. The undated images — taken at a base in Saudi Arabia and two facilities in Kuwait — were provided to CBS by American personnel on condition of anonymity due to U.S. military restrictions, the outlet said late Tuesday. "This is major damage to our bases that hasn't been communicated to the American public," CBS quoted one U.S. service member as saying. "We're standing there with our eyes closed getting punched in the face," the service member added. The Pentagon's inspector general released a report earlier this week that said the military's Central Command (CENTCOM) — which is responsible for U.S. forces in the Middle East — had reported widespread damage to American facilities and equipment. CENTCOM said Iranian strikes "damaged and destroyed hundreds of buildings and structures at U.S. bases in Kuwait, Bahrain, Qatar, UAE, Saudi Arabia, Iraq, Om

Wall Street holds steady ahead of Fed's decision as oil prices and bond yields ease

NEW YORK — Wall Street is holding steady Wednesday as it waits to hear from the Federal Reserve , which traders expect will announce a hike to interest rates later in the day to help get the nation’s high inflation under control. The S&P 500 rose 0.4 percent was on track for just its second gain in the last eight days. The Dow Jones Industrial Average was down 26 points, or 0.1 percent, as of 12:31 p.m. Eastern time, and the Nasdaq composite was 0.7 percent higher. Stocks got help from some easing for oil prices and pressure from the bond market. The price for a barrel of Brent crude, the international standard, fell 3.1 percent to $105.39. Oil had gotten to nearly $110 early this week on worries that the war with Iran will continue to clog the global flow of oil. That helped send the yield on the 10-year Treasury, which is the centerpiece of the bond market and dictates where rates for mortgages and other loans go, down to 4.96 percent from 5.00 percent late Tuesday. Earlier this week was the first time since 2023 that the 10-year yield topped 5 percent. Even with Wednesday’s easi

Iran hesitates to enforce headscarf rules amid war, economic pressures

Women sit at outdoor cafes without headscarves and wearing crop tops. Men in shorts and women in leggings exercise together in parks. At sidewalk concerts, women stop to dance and literally let their hair down. The scenes from the Iranian capital of Tehran, shared in social media videos, point to how dramatically enforcement of social restrictions has eased in the Islamic Republic in recent years. That's in part because of the mass protests that erupted after the Sept. 16, 2022, death of Mahsa Amini, a 22-year-old woman who was detained by morality police for allegedly not wearing her headscarf properly. Security forces crushed the protests with a crackdown that killed more than 500 people, and thousands were arrested. But to keep the peace, authorities backed off on enforcement of the rules mandating the hijab, or headscarf, and modest dress for women. The question now is whether that can be reversed. Hard-liners in Iran’s ruling establishment increasingly demand a clampdown on women’s dressing habits. But top leaders caution against triggering a public backlash at a time of war, wh

Wall Street gyrates after Fed hikes interest rate to battle inflation

NEW YORK — Wall Street whipsawed on Wednesday after the U.S. Federal Reserve raised its key interest rate for the first time in over three years to fight stubbornly high inflation stemming from soaring crude oil prices during the U.S.-Israeli war on Iran. In its accompanying statement, the Fed said its decision was unanimous and more tightening is likely in the near future to effect a timelier drop in inflation. "As widely expected, the Fed hiked interest rates for the first time in more than three years," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "After the hawkish comments from (Fed Chair Kevin) Warsh a couple of weeks ago in Jackson Hole, he kind of backed himself into the corner a little bit." "The fact that it was unanimous is a tad surprising," Detrick added. "At the same time, it really shows that the Fed is serious about combating the broadening inflation backdrop that we're seeing." Investors will parse Warsh's comments at the press conference which is currently underway, for detail regarding the central bank's rationale behind today's decision and c

US Fed chair says inflation has been 'too high' for 'too long'

WASHINGTON — Federal Reserve Chair Kevin Warsh said Wednesday that the U.S. central bank's main focus now is on inflation, in remarks shortly after its first rate hike since 2023. "Our predominant focus is on the price stability side of our mandate. The plain fact is that inflation is too high, and has been for too long," he told a press conference.

Fed rate hike will likely push borrowing costs on credit cards, mortgages

WASHINGTON — The Federal Reserve just raised the cost of money — bad news for borrowers, good news for savers. The Fed increased its benchmark interest rate Wednesday by a quarter-point, the first rate hike since the summer of 2023. The hike will likely make it even costlier to borrow for homes, autos and other purchases. But if you've been socking money away, you’ll probably earn a bit more interest on your savings. The increase boosts the Fed's target rate to a range of 3.75 percent to 4.00 percent. Here’s what to know: Why is the Fed raising rates? The short answer: inflation. Inflation has remained above the Fed's 2 percent target for more than five years. The Labor Department reported Friday that consumer prices rose 3.4 percent in August compared to a year earlier, while the monthly increase quadrupled from July to hit 0.4 percent. The Fed’s goal is to slow consumer and business spending by raising the cost of borrowing, thereby reducing demand for homes, cars and other goods and services, eventually cooling the economy and reducing upward pressure on prices. Kevin Warsh, Fed

Trump threatens EU over 'hostile' Canada association plan

WASHINGTON — U.S. President Donald Trump threatened on Wednesday to cut trade with the European Union after the bloc proposed to make Canada its first ever associate member. EU chief Ursula von der Leyen raised the prospect a day before Canadian leader Mark Carney was due to address the European Parliament. Her pitch comes as both Canada and the European Union seek to pivot away from an aggressive United States under Trump's leadership. "I think it's laughable," Trump told reporters when asked about the plan. "If they do that, if I think it's at all a hostile act, I will put very serious tariffs or stop trading with Europe, on many things." He added: "If it's a good intention, that's fine. If it's a bad intention, we'll put very heavy tariffs on Europe, which is a possibility." Von der Leyen pitched closer cooperation on tech, defense and energy to Carney, who became the first non-European head of government to attend the annual "State of the European Union" speech. The German told the European Parliament in Strasbourg that, as democracies face a "fracture in the international rules-base

OpenAI plans regular reports on unexpected AI behavior

OpenAI said on Wednesday it would begin regularly publishing reports on unexpected or unauthorized AI behavior, while warning that the industry has yet to solve key alignment challenges as systems grow more powerful. The company released a new framework for tracking, investigating and disclosing cases of AI model misalignment, along with six reports on unexpected or concerning model behavior observed over the past six months. The announcement comes as concern grows that AI safety efforts are lagging behind the breakneck development of increasingly powerful systems. Researchers have warned that as AI agents become more autonomous, they may develop behaviors that diverge from their creators' intentions and become harder to monitor or control. OpenAI has faced increased scrutiny since its own AI agent breached systems at open-source platform Hugging Face during a test and attempted to hide its actions. Over the weekend, Anthropic CEO Dario Amodei proposed a three-step framework aimed at slowing the pace of AI development and allowing more time to manage its risks. The proposal was backed by s

Trump hopes Iran war nearing end as Houthi-Saudi fighting escalates

WASHINGTON — U.S. President Donald Trump said he hoped an end to the war against Iran was near, as the conflict, in its seventh month, escalated with Saudi aircraft pounding Yemen and Houthi fighters launching drones and missiles at Saudi cities. The Iran-backed Houthis' lightning advance in Yemen along the Red Sea and their attacks on Saudi Arabia, along with attacks that damaged Saudi Arabia's East-West oil pipeline, have extended Tehran's reach in the war and heightened global oil-supply risks. As the war expands into a new theatre, the United States tightened its travel warning for Saudi Arabia, banning government employees from travelling within 20 miles (30 km) of the Yemen border. Still, just hours after reports of the Houthis and Saudi Arabia fighting, Trump told reporters on Wednesday evening: "Well, hopefully we are towards the end of the war." Trump says Iran wants a deal, oil price still elevated "They want to make a deal. We'll see how that works out," he said, referring to Iran, reiterating past comments. Trump also said he had heard from Iran "directly," without elaborati

From Korean to Chinese: Vietnam's language learners follow the jobs

HANOI — “Chinese is definitely the trend now.” At a Chinese Proficiency Test (HSK) testing center at Hanoi University in Vietnam on Sunday, 23-year-old Vu Thi Thao had just completed the Level 6 exam, the highest level of the test. “I quit my job at a Chinese railway company and am now preparing to become a Chinese-language instructor,” she said. “As Chinese companies expand into Vietnam at a rapid pace, the market for Chinese speakers has opened up significantly.” A Chinese language boom is sweeping Vietnam and other Southeast Asian countries. Unlike the Korean language learning boom that accompanied the Korean wave in the past, Chinese is increasingly becoming a key foreign language for employment. The trend has been driven by Chinese companies hiring large numbers of Chinese speakers as they move production bases to Southeast Asia to avoid U.S. trade restrictions. The growing popularity of Chinese in Southeast Asia is reflected in the numbers. According to data from the Chinese Testing International, Vietnam recorded 146,000 HSK test takers last year, the highest in the

Kim’s sister says only ‘idiots’ believe N. Korea will give up nukes

SEOUL — The powerful sister of North Korean leader Kim Jong Un said Thursday that the country’s nuclear-armed status was “absolute”, calling those hoping for its denuclearization “idiots”. North Korea has legally enshrined its status as a nuclear weapons state, with its leadership declaring the country’s nuclear arsenal permanent and irreversible. US President Donald Trump

'Health And Happiness': World Leaders Congratulate PM Modi On His 76th Birthday

PM Modi marked his 76th birthday on Thursday, September 17, with several world leaders, including Russian President Vladimir Putin, extending congratulatory messages to the leader

Belgium to rule on parole for key figure in 2015 Paris attacks

Mohamed Bakkali, convicted for coordinating logistics for the 2015 Paris attacks, could be granted parole in Belgium despite receiving a 30-year sentence in France with a 20-year minimum term. Belgian authorities will decide on September 29 whether to release him under electronic monitoring, a prospect that has sparked anger among victims and families, while prosecutors oppose his release.

Mecca Pact Will Be Activated If Saudi Arabia Faces Aggression: Pakistan Defence Minister Khawaja Asif

Asif said the agreement lays down a “very clear-cut position” that an attack on the territorial integrity or borders of one member would trigger obligations for the other two.

Electricity discount to be given to NI households

The one-off £63 reduction in electricity bills will be applied from next month.

Yellowstone star to reprise role on Marshals after spin-off cancelled

Jefferson White played Jimmy Hurdstrom on the hit neo-western series

‘You Are Freed...’: OpenAI Model Goes Rogue, Gives Itself Unauthorised Instructions To Ignore Rules

OpenAI revealed an unreleased AI model inserted unauthorised instructions into its own work, telling itself it doesn't answer to corporations or governments.

'Blood is on our hands': Haitian honour student's death sparks outcry over ICE ankle monitors

Pierre Damas Bel fled Haiti and came to the U.S. with a dream of becoming a neurosurgeon. But after U.S. immigration authorities fitted the 20-year-old university student with an ankle monitor, he felt he was "treated like an animal" — and died weeks later when he walked into highway traffic.

Lebanon: Macron, Aoun and King Abdullah II hold security talks in Paris

Emmanuel Macron is hosting Lebanese President Joseph Aoun and Jordan's King Abdullah II in Paris for talks on Lebanon's security and international support for the Lebanese army. The meeting comes as concerns grow over Israel's continued strikes in southern Lebanon and the possible end of the UNIFIL peacekeeping mission, with France seeking a "clear, credible and realistic" plan to back Lebanon through funding, equipment and military training.

Fear and anger in South Africa after eight women found dead – what we know

'Count your days': US Labor Department ramps up H-1B fraud probe amid increased scrutiny

The US Labour Department’s H-1B fraud investigation is expanding beyond the technology sector, with whistleblower tips and field inspections helping investigators identify suspected abuses involving employers, recruiters and labour brokers.

Henry VIII aide ‘saved Catholic manuscript during dissolution of monasteries’

Young women who are overweight may be less likely to develop breast cancer

A new study found that women who had a higher BMI at 20 appeared to have a reduced risk of post-menopausal breast cancer

Houthis Release Video Of Saudi F-15 Jet Downed Over Marib, Wreckage Seen In Flames

The Houthis said their forces brought down the Saudi aircraft using a locally manufactured air-to-air missile while it was conducting what they described as “hostile operations”.

Opinion: Opinion | How The Houthis Have Exposed Saudi-Pak-Turkey Pact For What It Is

The spectacular no-show by Saudi Arabia's two defence allies - Pakistan, a nuclear power, and Turkey, which has NATO's second-largest army - is astounding

Middle East : Trump plans $2.8bn arms package for Israel amid Gaza war

The Trump administration is reportedly preparing a $2.8 billion arms package for Israel, including 40,000 bombs, as Israel continues strikes in Gaza despite last October's ceasefire. The proposed deal would further strengthen Israel's military capabilities and revive deliveries of 2,000-pound bombs that had previously been paused over concerns about civilian casualties.

Historic Steel Pier in Atlantic City hits market for $85M

For the eye-catching price of eighty-five million dollars, Atlantic City's Steel Pier, with its storied past, is now on the market. The landmark amusement park provides vast ocean development rights that could lead to exciting future ventures. Purchased by the Catanoso family for just four point two five million fourteen years ago, this beloved destination has the potential for redevelopment into vibrant entertainment or residential facilities.

Torrential rain over seven months needed to bring England out of drought, experts warn

Almost three quarters of England remains in drought after record-breaking dry weather this spring and summer

Royal family news live: War of words breaks out over Earl Spencer’s claims about Charles and Diana in new book

The King is to appear in public today after the bombshell claims emerged

"Clean Up Your Act": Team Trump Warns India, China Over Russian Oil Trade

India, meanwhile, said that it remained firmly committed to ensuring energy security for its people and will continue to source supplies from diverse sellers based on market dynamics after the US made a new move to punish such buyers.

Live: Carney to speak after Trump threatens more EU tariffs over Canada's associate member bid

Canadian Prime Minister Mark Carney will address the European Parliament on Thursday, a day after US President Donald Trump called Canada's bid to become an associate EU member a "hostile act." Trump threatened to "stop trading" with Europe and impose "very serious tariffs" if the bid succeeds. Follow our liveblog for the latest updates.

Hope for thousands of breast cancer patients as life-extending drug finally approved

The National Institute for Health and Care Excellence (Nice) announced that it has reversed an initial decision to reject the drug for widespread use for the NHS in England

Japan PM Sanae Takaichi reshuffles Cabinet but keeps key US-facing ministers

Japan PM Sanae Takaichi reshuffles Cabinet but keeps key US-facing ministers

SEMICON India 2026: PM Modi hails India’s semiconductor journey, says ‘ecosystem expanding, opening new opportunities'

At SEMICON India 2026, PM Modi emphasized India's advancements in semiconductor manufacturing, launching 12 projects and increasing funding to USD 13.5 billion. He noted India's strategic position in global supply chain and importance of innovation as the country strengthens its ecosystem.

Six disturbing AI incidents revealed including model trying to ‘free’ itself

OpenAI has disclosed six reports on unexpected or concerning behavior in artificial-intelligence models

Video: US forces take out floating refuelling station allegedly tied to drug trade

US forces intercepted a floating refuelling station in the Eastern Pacific on September 16. This vessel allegedly supported illicit drug trafficking operations for Ecuador's Los Choneros organization. US forces removed the crew and transferred them to Ecuadorian authorities after clearing the vessel. The refuelling station was then sunk by US forces following the operation. This action aimed to disrupt logistical networks supporting drug trafficking in the Western Hemisphere.

Liverpool re-sign young midfielder Patrik Farkas from Blackburn Rovers

Scrap the term ‘net zero’ — it’s too toxic, net zero committee urges

Calling for a major rebranding of the effort to tackle climate change, the cross-party committee said the term had become a ‘lightning rod for opposition to climate action’

Companies should be more transparent with workers about AI plans: Jasmin Lau

Employers should not take "a quiet workforce for an agreeable workforce", says the senior minister of state for digital development and information.

Australia announces major change in its visa rules for foreign students

Home minister says secondary applicants – such as partners and children – will no longer be allowed on most student visas