Author: Phillip Colon

The Defence Secretary has discussed the development of hypersonic weapons and undersea intelligence, surveillance and reconnaissance (ISR) capabilities with his US and Australian counterparts in the first meeting of Aukus Defence Ministers in Washington. Aukus is a trilateral security partnership, comprising the three countries, and discussions are also looking into progress on how the Australian Navy can acquire its first conventionally armed, nuclear-powered submarine. Ben Wallace met with US Secretary of Defense Lloyd Austin and Deputy Prime Minister and Defence Minister of Australia Richard Marles at the Pentagon in Washington to reiterate their shared commitment to the partnership. “More than…

NEW YORK (AP) — A survey of national economists found that more businesses now expect job reductions at their firms and to spend less on expansions for the first time since the pandemic, a sign that the Federal Reserve’s push to raise interest rates is doing its job to slow the economy. But the survey shows that business owners are still concerned that the Fed’s decision-making could push too hard on the economy and potentially put the U.S. into a recession this year. The January survey by the National Association for Business Economics found that its respondents put on average…

MEMPHIS, Tenn. (AP) — Singer and harmonica player John Nemeth, vocalist Shemekia Copeland, country blues artist Rory Block, and guitarist Eric Gales are among the top nominees for this year’s Blues Music Awards. The Blues Foundation on Tuesday released the list of nominees for the 44th installment of the awards, which will be handed out May 11 in Memphis, Tennessee. Nemeth leads the way with five nominations, including song of the year, band of the year and best traditional blues album. Block, Copeland and Gales are each nominated for three awards. Block is up for two awards in acoustic music…

Amid an ongoing court battle to lower or cancel student debt, the Biden administration is using its regulatory authority to reduce the debt burden for low- and middle-income students, according to administration officials. Under the proposed new rules, which would have to go through the regulatory process, individuals making $30,500 a year – meaning those making $15 an hour – would not have to make monthly payments on their federal student loans. The most generous programs now for borrowers in an income-driven repayment plan max out at $20,400 annual income for a single individual, officials said. Further, federal loan borrowers…

NEW YORK (AP) — Virtually everything was going right for President Joe Biden as he opened the year. His approval ratings were ticking up. Inflation was slowing. And as Democrats united behind his likely reelection campaign, Republicans were at war with themselves after a disappointing midterm season. But on Thursday, Biden’s political outlook veered into more uncertain territory after Attorney General Merrick Garland appointed a special counsel to investigate the Democratic president’s handling of classified documents. Democrats publicly and privately conceded that the stunning development was at best an unwelcome distraction at an inopportune time that muddies the case against…

NEW YORK (AP) — Stocks fell broadly on Wall Street Thursday and Treasury yields rose after another hot reading on the job market raised worries that the Federal Reserve will need to continue inflicting pain on the economy in order to fight inflation. The S&P 500 fell 0.8% as of 10:10 a.m. Eastern. The Dow Jones Industrial Average fell 301 points, or 0.9%, to 32,980 and the Nasdaq fell 0.9%. The pullback came after payroll company ADP reported a bigger-than-expected increase in jobs at private companies last month. The U.S. government also reported that the number of Americans applying for…

US News & World Report pledged to modify its law school rankings after a growing number of institutions, including Yale and Harvard, called the rankings “flawed.” In a letter to law school deans published on its website Monday, US News & World Report said it would make a series of changes to this year’s rankings. They’ll be based on “conversations with more than 100 deans and representatives of law schools,” along with “our own research and our iterative rankings review process,” the company said. “We realize that legal education is neither monolithic nor static and that the rankings, by becoming so widely accepted, may not…

On a day of high political drama, Republican leader Kevin McCarthy repeatedly failed in his bid to be elected Speaker of the US House of Representatives. The House adjourned without a speaker on Tuesday night – the first time since 1923 they had failed to choose a leader after a first-round vote. The start of a new Congress was supposed to be a victory lap for the Republican Party as it took control of the lower chamber following November’s elections. Instead, Mr. McCarthy faced a rebellion from within his own ranks and made history for all the wrong reasons. The…

Japan’s core consumer price inflation edged up to 3.7% in November, the highest it has been since 1981. That was when a Middle East crisis disrupted oil production and caused energy prices to soar. But after decades of the country trying to boost inflation, Japanese consumers are now experiencing the pain of higher prices despite stagnant wages. Until now, the Bank of Japan (BOJ) had kept its ultra-loose monetary policy to boost its economy. But earlier this week, it surprised the market by raising the cap on the interest rate on its 10-year government bonds from 0.25% to 0.5%. As…

HONG KONG – A photography exhibition titled “Changing Asia – New Normal” will open in Hong Kong on Dec. 9, co-organized by China Daily and Asia News Network. It was held in Bangkok on Nov. 16, coinciding with Bangkok’s successful hosting of a key meeting of Asia-Pacific Economic Cooperation economies. The exhibition has attracted 179 photographers from 18 countries, with 1,175 images submitted. Mr. Zhou Li — deputy editor-in-chief of China Daily Group and publisher and editor-in-chief of China Daily Asia — will deliver the welcoming remarks at the opening ceremony. The exhibition, which will run from Dec. 8-11, aims to…