Fed raises rates for first time in 3 years

2 h agoThe Federal Reserve raised its benchmark overnight interest rate by 25 basis points to the 3.75%-4.00% range on Wednesday, the first increase in three years. The unanimous decision under new Fed chief Kevin Warsh came as the central bank sought to address persistent inflation, despite pressure from President Donald Trump for lower borrowing costs.

2 h agoThe Federal Reserve raised its benchmark interest rate by a quarter point to a new range of 3.75 to 4.00 percent, the first increase since 2023. Fed Chair Kevin Warsh cited persistent high inflation as the reason for the move.

4 h agoFrench finance minister Roland Lescure said Wednesday that calls to slow artificial intelligence development benefit leaders already at the top of the sector in the United States. Lescure said France and Europe must accelerate their own AI work to manage risks.

5 h agoThe Trump administration is preparing to supply Israel with 40,000 heavy 2,000-pound munitions as part of a $2.8 billion arms agreement. The weapons were previously held back by the Biden administration over concerns about civilian casualties in Gaza. Congressional committees have already been notified of the pending deal.

6 h agoA tribunal in The Hague has sentenced Hashim Thaci, 58, the former president of Kosovo, to 25 years in prison for war crimes committed during the country's independence war in the late 1990s. The European-backed Kosovo Specialist Chambers convicted Thaci and three other former senior commanders of the Kosovo Liberation Army of 96 murders, torture, cruel treatment and arbitrary detention.

7 h agoA bombed-out apartment building collapsed in Gaza City overnight, killing at least 20 people including children and trapping dozens beneath the rubble. Search and rescue operations continued on Wednesday, though Israeli restrictions on heavy machinery in the territory have hampered efforts to find survivors.

7 h agoUrsula von der Leyen, president of the European Commission, raised the prospect of Canada becoming the EU's first associate member as both sides look to navigate complicated geopolitical challenges. Von der Leyen pitched closer cooperation on technology, defence and energy to Canadian leader Mark Carney.

12 h agoLebanese President Joseph Aoun said his country is pursuing a security agreement with Israel to end hostility between the two nations. Aoun stated that direct negotiations represent the only alternative to war, which he described as costly for Lebanon.

12 h agoCarlos Espi scored in the 91st minute to give Real Madrid a 3-2 away victory over Elche on Tuesday, after the visitors squandered a two-goal lead. The striker came off the bench to level Real Madrid with Barcelona at the top of La Liga on 15 points.

13 h agoA seven-storey building in Gaza City collapsed, killing at least 11 Palestinians including five children, with at least 100 estimated trapped beneath the rubble. The structure had been damaged in previous Israeli airstrikes and housed Palestinian displaced families. Belgium's coalition government failed to agree on an evacuation plan for 13 students and researchers with scholarships to Belgian universities.