Breaking News
What's developing right now, newest confirmed reports first as each story unfolds.
Federal Reserve raises interest rates by a quarter point, first hike since 2023, as inflation stays stubborn; credit card and mortgage rates set to rise
Fed Chair Kevin Warsh defended the hike, saying it will benefit lower-income Americans hurt most by inflation, while the FOMC's dot plot projects one more 25-basis-point hike this year. Consumer prices rose 3.4% in August, and the 30-year fixed mortgage rate hit 6.76% last week.
EU president backs Canada as first 'associate member' as Carney seeks 'unique alliance' amid U.S. tensions; visa-free work for Canadians under discussion
Carney said Canada is 'not looking to become a member' but seeking an enhanced alliance, and the EU's 150-billion-euro loan program for joint weapons procurement already includes Canada as its first non-European participant. French lawmaker Valérie Hayer told Carney he has 'shown what to do in the face of Trump: Refuse to compromise ... speak the language of power.'
Saudi pipeline attack risks 'disastrous' loss of oil as fighting escalates; Brent crude hovers near $107, up 50% from prewar level
The East-West pipeline shutdown could keep 4% of the world's oil supply off the market, with Kpler estimating a loss of 120 million barrels if offline for a month. Satellite images show damage at two pumping stations, and analysts expect repairs to take five to six weeks, though partial fixes could come sooner.
