The Supreme Court has ruled that the Consumer Financial Protection Bureau’s (CFPB) funding structure is constitutional, rejecting claims it violated the Appropriations Clause. Established after the 2008 financial crisis, the CFPB ensures fairness in consumer financial markets. The case challenged the CFPB’s unique funding mechanism...
Washington, United States – AFP The United States is hiking tariffs on $18 billion worth of Chinese imports, targeting strategic sectors like electric vehicles, batteries, steel and critical minerals, the White House said Tuesday. The decision — which drew a fiery response from Beijing — comes as President Joe Biden gears up ...
A judge appointed by Donald Trump has halted a Biden administration rule aimed at capping credit card fees, granting a win for big banks. The rule, which was set to save consumers more than $10 billion annually, faced opposition from the US Chamber of Commerce. The chamber filed an injunction in court. Judge Mark Pittman’s […]
Kuala Lumpur, Malaysia — AFP Microsoft has pledged a $2.2 billion investment in artificial intelligence and cloud computing in Malaysia to help develop the country’s AI infrastructure. The tech giant’s chief executive Satya Nadella is on a three-nation tour of Southeast Asia — Indonesia, Thailand and Malaysia — to...
Thiès, Senegal – AFP After cutting away the loose woollen threads from his loom, 28-year-old Senegalese weaver Seydina Oumar Cisse turns the roll to watch the tapestry gradually take shape before his eyes. Everything from the colours to the design is identical to the original work created by Senegalese artist Cheikh Diouf. “It̵...
Washington, United States – AFP Pakistan has initiated discussions with the IMF over a new multi-billion dollar loan agreement to support its economic reform program, its new finance minister has said. The South Asian nation is nearing the end of a nine-month, $3 billion loan program with the International Monetary Fund designed to tackl...
The U.S. economy has performed well during Democratic presidential administrations compared to Republican ones since 1949. That’s according to a recent study by the Economic Policy Institute. It analyzed GDP growth, job creation, wage growth, and unemployment rates. The study found a consistent Democratic advantage across various economic ind...
A U.S. anti-hunger group on Monday criticized the notion that hungry Americans could subsist on positive economic reports amid rising food insecurity. CEO of Hunger Free America Joel Berg highlighted the disconnect between economic growth and widespread poverty. He called out the trend of relying on economic indicators when 44 million American...
More than a billion meals a day were wasted in 2022 around the world. This is while 783 million people were affected by hunger and a third of humanity faced food insecurity. A report released Wednesday by the UN Environment Program found that almost one-fifth of all food available to consumers was wasted. Approximately 60 […]
Soykechar, Uzbekistan – AFP Sifting through a greyish mixture of sand and pebble in the steppe of Uzbekistan, Khislat Ochilov was searching for gold. He is one of hundreds of new prospectors trying to strike it rich in a modern-day gold rush in the Central Asian country, chock-full of the precious metal. It was a […]
