New York CNN  —  The Federal Reserve raised interest rates by a quarter point on Wednesday as it attempts to fight stubbornly high inflation while addressing risks to financial stability. Investors and economists had widely anticipated the quarter-point increase despite the meltdown in the banking sector. Still, Federal Reserve ChairmanContinue Reading

Even with turmoil in the banking industry and uncertainty ahead, the Federal Reserve likely will approve a quarter-percentage-point interest rate increase next week, according to market pricing and many Wall Street experts. Rate expectations have been on a rapidly swinging pendulum over the past two weeks, varying from a half-pointContinue Reading

ISLAMABAD, Pakistan — Less than four months after Prime Minister Imran Khan was ousted from power in Pakistan, his party has won a sweeping victory in elections in the most populous province, proving that Mr. Khan remains a powerful force and adding to the political uncertainty that has embroiled theContinue Reading

Good morning. We’re covering the resignation of Sri Lanka’s president, election results in Japan and Russia’s bombardment of Donetsk, Ukraine. The mandate will give the lawmakers a new chance to pursue Abe’s long-held ambition of revising a clause that renounces war in the country’s pacifist Constitution. Better Understand the Russia-UkraineContinue Reading

On Wednesday morning, as London’s financial markets reopened after the resignations of senior ministers put Prime Minister Boris Johnson’s tenure in doubt, Britain’s benchmark stock market index rose more than 2 percent, alongside increases in other European markets. The British pound rose slightly against the U.S. dollar on Wednesday morning,Continue Reading

Earlier this month, a Russian court extended WNBA star and two-time Olympic gold medalist Griner’s pretrial detention until at least June following her arrest. According to Russian authorities, Griner had cannabis oil in her luggage and has been accused of smuggling significant amounts of a narcotic substance — an offenseContinue Reading