Breaking News

Local Business

World shares mixed, futures in US fall after tech-led rally

BANGKOK — World shares were mixed Friday and U.S. futures declined as optimism over the U.S.-Iran deal to end their war was dimmed by the postponement of high-stakes talks on reopening negotiations over Iran’s nuclear program and getting oil moving through the Strait of Hormuz. U.S. markets were closed Friday for Juneteenth. Planned talks in Switzerland between Iran and the United States over their efforts to reach a permanent end to war were delayed, while Israel’s military said its forces struck targets throughout southern Lebanon overnight as Hezbollah reported intense ...

Stranded ships have begun transiting Strait of Hormuz

Major shipowners have begun moving vessels through the Strait of Hormuz since the U.S. and Iran signed an interim agreement to end their war, maritime data company Lloyd’s List Intelligence said Thursday. In a media briefing, Richard Meade, editor in chief of Lloyd’s List, said for the ...

Grid operators ordered to speed electricity to AI data centers

WASHINGTON — Federal regulators on Thursday ordered regional grid operators to help large energy users connect more quickly to the nation’s inefficient and aging electric transmission system, a step they said is needed to accommodate surging demand from power-hungry artificial intelligence data centers. Energy Secretary Chris Wright had urged the Federal Energy Regulatory Commission to act in an effort to help the United States better compete with China for superiority in the fast-growing AI sector. Tech companies and data center developers welcomed the chance to connect faster to ...

Ticker: Trump administration to cut student loan interest

The Department of Education has announced a reduction in interest rates for federal student loans, describing it as part of a plan to make higher education more affordable. With growing numbers of borrowers in default, the Trump administration pitched the temporary, 1% reduction in student loan interest rates as a salve for those struggling with repayment. Education Undersecretary Nicholas Kent said Thursday that the change is a way of “making student loan repayment easier than ever” and of improving “the overall health of the federal student loan portfolio.” U.S. filings for ...

Fed policymakers show support for rate hikes

WASHINGTON — The Federal Reserve kept its key rate unchanged Wednesday yet almost half the central bank’s policymakers said they could support a rate hike later this year. The unexpectedly aggressive tilt toward higher rates would disappoint President Trump and suggests heightened concerns about persistent inflation among Fed officials. In an unusually short statement after their two-day meeting, the officials dropped language that had suggested their next move would be to cut the key rate. The brief statement reflects the influence of new chair Kevin Warsh, who was appointed by ...

Ticker: US stocks sink on worries about rate hike

U.S. stocks dropped on speculation the Federal Reserve may raise interest rates this year to keep a lid on inflation. The S&P 500 slumped 1.2% Wednesday after the Fed released projections showing nearly half its policymakers foresee at least one increase to its main interest rate in 2026. The Dow Jones Industrial Average went from a gain of 0.5% in the morning to a drop of 1%, while the Nasdaq composite sank 1.3%. Japanese trade officials raid 6 ice cream makers Six major Japanese ice cream makers have been raided by the government fair trade watchdog officials on suspicion of price ...