MINNEAPOLIS
Minneapolis police officer dies in ambush shooting that killed 2 others including suspected gunman
Two police officers were injured in the shooting in the south Minneapolis neighborhood of Whittier.
Yield curve inversion narrows, 10-year yields hit four-week high
Yields jumped on Tuesday after consumer confidence unexpectedly improved in May and the Treasury Department saw soft demand for auctions of two-year and five-year notes.
Gold prices inch lower as US rate cut bets cool
Gold prices eased as traders reduced rate cut expectations by the U.S. Federal Reserve, awaiting U.S. inflation data this week.
Biden tells Morehouse graduates that scenes in Gaza from the Israel-Hamas war break his heart, too
President Joe Biden directly acknowledged U.S. students' distress over the Israel-Hamas conflict in a speech at historically Black Morehouse College. He expressed support for peaceful protests and called for an immediate cease-fire in Gaza. Biden also addressed domestic issues, reflecting on democracy and reaching out to Black constituents in Detroit.
Are US interest rates high enough to beat inflation? The Fed will take its time to find out
The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this year.
Gold prices hold ground as traders eye Fed cues
China's central bank added 60,000 troy ounces of bullion to its reserves in April, official data showed on Tuesday, extending the period of consecutive purchases to 18 months.
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Dollar regains momentum as yen struggles
The yen was last little changed at 154.75 per dollar, edging away from its peak of 151.86 hit last week on the back of suspected intervention from Japanese authorities to prop up the sliding currency.
Fed rate-cut debate shifts from 'when' to 'if' on inflation data
Policymakers are widely expected to hold rates steady at a more than two-decade high at the conclusion of their meeting Wednesday, so much of the focus will be on any pivot in the tone of the post-meeting statement and Chair Jerome Powell's press conference.
'I can't breathe': Black man in Ohio tells police before he died, video shows
Frank Tyson's death at the hands of Canton Police echoes George Floyd's case. Officers Schoenegge and Burch are on leave. The incident, captured on video, led to CPR attempts. The Ohio Bureau of Criminal Investigation is now involved in the case.
Black man's death in Ohio echoes George Floyd tragedy; Police bodycam shows 'I can't breathe' pleas
Frank Tyson, a 53-year-old man, died after an altercation with police at a bar in Canton, Ohio. Body camera footage shows officers restraining Tyson, who repeatedly said, "I can't breathe." The incident is reminiscent of George Floyd's death in 2020, sparking outrage and raising concerns about police brutality.
3 Fed rate cuts this year is best guess & base case: James Bullard
US Federal Reserve: Former President of the Federal Reserve Bank of St. Louis, James Bullard, predicts three rate cuts in the US this year, citing inflation nearing the central bank's target and economic strength. Market sentiments differ, with futures traders scaling back expectations amid evolving economic data and Federal Reserve Chair Jerome Powell's cautious approach.
Baltimore bridge collapse: Six workers presumed dead; shocking sight to see
Six workers are missing and presumed dead after a cargo ship collision caused a Baltimore bridge collapse, leading to a major port closure. Search-and-rescue efforts have ceased due to dangerous conditions. The incident impacts car and coal supply chains, with over 2.5 million tons of coal at risk. Authorities plan to recover the workers' remains.
Smuggling suspect knew of frigid cold before Indian family's death on Canada border, prosecutors say
Prosecutors allege Harshkumar Ramanlal Patel, known as "Dirty Harry," arranged for an Indian family to cross the US-Canadian border despite blizzard conditions warnings, resulting in the deaths of the parents and two children. Patel and alleged driver Steve Shand face human smuggling charges. The victims sought a better life in the US.
A surge of illegal homemade machine guns has helped fuel gun violence in the US
Eleven-year-old Domonic Davis was tragically killed in a shooting near his home in Cincinnati. The incident, which injured four other children and a woman, remains under investigation. Federal authorities suspect the weapon used was illegally converted to fire like a machine gun, a trend fueled by the availability of conversion devices made with 3D printers or ordered online. This case underscores the urgent need for measures to address gun violence and the proliferation of such dangerous weapons.
Who are the two police officers and paramedic killed in shooting incident in Minnesota
Two police officers and a paramedic were killed in a shooting incident in Burnsville, Minnesota. The officers, Elmstrand and Ruge, responded to a shooting call about a family in danger. The gunman, who remains unnamed, allegedly barricaded himself with family members. The situation escalated into gunfire upon the officers' arrival, resulting in the deaths of the armed suspect and the paramedic. Governor Tim Walz expressed condolences, highlighting the bravery and sacrifices of first responders.
Rupee ticks higher, aided by slip in US bond yields
The dollar index was steady near 104.1 after falling nearly 0.3% on Tuesday. The 10-year U.S. Treasury yield also slipped 8 basis points (bps) to 4.08% on Tuesday as investors awaited cues on when the Federal Reserve may begin easing policy rates.
Trump appeals Maine ruling barring him from ballot under the Constitution's insurrection clause
Trump, the early front-runner for the 2024 Republican presidential nomination, appealed the Maine decision by Democrat Shenna Bellows, who became the first secretary of state in history to bar someone from running for the presidency under the rarely used Section 3 of the 14th Amendment. That provision prohibits those who "engaged in insurrection" from holding office.
Trump is barred from the GOP primary ballot in two states. Can he still run for president?
Both decisions are historic. The Colorado court was the first court to apply to a presidential candidate a rarely used constitutional ban against those who "engaged in insurrection." Maine's secretary of state was the first top election official to unilaterally strike a presidential candidate from the ballot under that provision. But both decisions are on hold while the legal process plays out. That means that Trump remains on the ballot in Colorado and Maine and that his political fate is now in the hands of the U.S. Supreme Court.
Derek Chauvin: Ex-police officer, convicted for George Floyd's murder, stabbed in prison. Know in detail
Ex-police officer Derek Chauvin suffered life-threatening injuries after being attacked by a fellow inmate at a maximum security prison in Tucson, Arizona, on Friday. In a viral video, he could be seen kneeling on George Floyd's neck for more than nine minutes outside a corner store in a row over a fake $20 bill. It sparked nationwide protests against alleged police brutality and racism. Know in detail the full story.
Fed's Kashkari sees one more rate hike this year
Minneapolis Federal Reserve Bank President Neel Kashkari on Monday said that given the surprising resilience in the U.S. economy, the Fed probably needs to raise rates another quarter of a percentage point and keep rates high for some time.
Minneapolis advances measure for minimum wage to Uber and Lyft drivers
Under the measure, drivers would be paid at least $1.40 per mile and $0.51 per minute, or $5, whichever is greater. The rule would only apply for the portion of the ride within the city.
Gold inches higher on US debt ceiling talks, banking sector uncertainty
Gold prices increased slightly on Monday, following a surge of over 1% last week. The rise came after the U.S. Federal Reserve Chair Jerome Powell gave less hawkish comments. The uncertainty over the U.S. debt ceiling outcome and the stability of the banking sector also added to the safe-haven bullion's boost. At the moment, spot gold is up 0.2% at $1,979.79 per ounce, while U.S. gold futures were steady at $1,981.00.
Oil steady after surprise build in U.S. crude stocks
Oil prices were little changed in early trading on Wednesday after industry data showed an unexpected build in U.S. crude and gasoline inventories, offsetting concerns about tightening supply ahead of output cuts by OPEC producers.
US stock market: S&P, Nasdaq weak as manufacturing stokes Fed concerns
Energy and materials sectors were among the few winners in the session as commodity prices gained after data showed China's manufacturing activity expanded at the fastest pace in more than a decade as the country continues to leave its COVID-19 restrictions behind.
Video shows police beating Tyre Nichols
The video is filled with violent moments showing the officers, who are also Black, chasing and pummeling Nichols and leaving him on the pavement propped against a squad car as they fist-bumped and celebrated their actions.
Hawkish Fed rhetoric fails to lift dollar; Aussie jumps
Economic data also released on Wednesday revealed that U.S. job openings fell less than expected in November, though a survey from the Institute for Supply Management (ISM) showed that U.S. manufacturing activity contracted again in December.
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