U.S. & World News

US announces tariffs on $50B in China imports

WASHINGTON (AP) – The Trump administration is announcing a 25 percent tariff on $50 billion worth of Chinese imports, escalating a trade dispute between the world’s two largest economies. President Donald Trump has vowed to clamp down on what he calls China’s unfair trade practices. China has said that it will retaliate with $50 billion in tariffs in response, rattling…

IMF: Tax cuts boosting US now but will hurt growth later

WASHINGTON (AP) – The International Monetary Fund believes the U.S. economy will post solid growth this year and next, helped by a sizable boost from tax cuts. But then it says growth will slide as huge budget deficits drag growth far below the Trump administration’s goals. In its annual assessment of the U.S. economy, the IMF says growth will hit…

New York sues President Trump’s charitable foundation

NEW YORK (AP) – A lawsuit filed by New York’s attorney general Thursday said President Donald Trump used his charitable foundation to settle personal business disputes and bolster his political image with donations directed by his staff. The Donald J. Trump Foundation “was little more than a checkbook for payments from Mr. Trump or his businesses to nonprofits, regardless of…

Comcast challenges Disney with $65B bid for Fox

NEW YORK (AP) – Comcast is making a $65 billion bid for Fox’s entertainment businesses, setting up a battle with Disney to become the next mega-media company. The bid comes just a day after a federal judge cleared AT&T’s takeover of Time Warner and rejected the government’s argument that it would hurt competition in cable and satellite TV and jack…

Fed hikes key interest rate for 2nd time in 2018

WASHINGTON (AP) – Federal Reserve policymakers expect to raise their benchmark interest rate four times this year, up from a March projection of three, reflecting their forecast that the unemployment rate will fall to a 50-year low later this year and inflation will rise more quickly. The Fed also decided Wednesday to lift short-term rates for the second time this year,…

Senate panel OKs farm bill, but House wants work provisions

WASHINGTON (AP) – A Senate panel has approved a modest, bipartisan rewrite of federal farm and nutrition programs. That sidesteps a fight for now but sets up a clash with House Republicans intent on beefing up work requirements for food stamps. The legislation, approved by a bipartisan 20-1 vote, would renew farm safety-net programs such as subsidies for crop insurance,…

Pompeo says NKorea talks to resume next week

WASHINGTON (AP) – Secretary of State Mike Pompeo says he’s confident that U.S. talks with North Korea will resume “sometime in the next week.” Pompeo says he doesn’t know the exact timing. Speaking in Seoul, he says he expects it to happen fairly quickly after he and the North Koreans return to their nations. Pompeo returns late Thursday to the…

Trump declares oil prices too high, blames OPEC

WASHINGTON (AP) – President Donald Trump is declaring that oil prices are too high and blaming a coalition of countries that control a significant portion of the world’s supply of crude petroleum. Trump tweeted on Wednesday: “Oil prices are too high, OPEC is at it again. Not good!” OPEC is the Organization of Petroleum Exporting Countries, a group of 14…

Judge OKs AT&T-Time Warner merger

WASHINGTON (AP) – A federal judge has approved AT&T’s merger with Time Warner. He rejected the government’s argument that it would hurt competition in pay TV and cost consumers hundreds of millions of dollars more to stream TV and movies. U.S. District Judge Richard Leon announced the decision Tuesday, bringing the biggest antitrust trial in years to an end. The…

GOP seeks immigration accord under pressure from moderates

WASHINGTON (AP) – House Republicans are laboring to strike an immigration accord, and a deadline has arrived. GOP leaders and warring moderates and conservatives planned to meet Tuesday to try to reach an agreement that has long been elusive. The two sides have differences over whether to give young “Dreamer” immigrants a way to become legal residents and citizens, and…

Charitable giving in US tops $400 billion for first time

NEW YORK (AP) – Fueled by a surging stock market and huge gifts from billionaires, charitable giving in the United States in 2017 topped the $400 billion mark for the first time, according to the latest comprehensive report on Americans’ giving patterns. The Giving USA report says giving from individuals, estates, foundations and corporations reached an estimated $410 billion in…

Science panel says the FAA is too tough on drones

Science advisers to the federal government say safety regulators should do more to speed the integration of commercial drones into the nation’s airspace. The National Academies of Science, Engineering and Medicine said in a report Monday that federal safety regulators are often “overly conservative” and need to balance the overall benefits of drones instead of focusing only on their risk…

Your internet use could change as ‘net neutrality’ ends

NEW YORK (AP) – Your ability to watch and use your favorite apps and services could start to change – though not right away – following Monday’s official repeal of Obama-era internet protections. The repeal of “net neutrality” takes effect six months after the Federal Communications Commission voted to undo the rules, which had barred broadband and cellphone companies from…

US hits Russian firms with sanctions, citing cyberattacks

WASHINGTON (AP) – The Trump administration has slapped sanctions on several Russian companies and businessmen for engaging in cyberattacks and assisting Russia’s military and intelligence services with other malicious activities. The Treasury Department said Monday it was imposing sanctions on five Russian firms and three of their executives under legislation passed last year and an executive order aimed at punishing…