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IMF expects ECB to raise rates by half a percentage point in 2026

The European Central Bank should lift its key interest rate twice this year to combat an energy-driven inflation surge, but should then reverse these moves in 2027, the International Monetary Fund's European Department chief said on Friday."Under our reference scenario, we would expect the ECB to raise rates by about 50 basis points in 2026 in order to maintain a neutral monetary stance," Alfred Kammer, the head of the IMF's European Department, told Reuters."Then, in 2027, rates could come down again. If you want to keep the real policy interest rates constant, you would need to increase the

NATO will not collapse and US will defend its allies, Estonian minister says

Japan's core inflation likely ticked up in March fuelled by energy costs: Reuters poll

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Ericsson slightly lags profit expectations as AI demand drives up chip costs

Sweden's Ericsson reported a first-quarter core profit that slightly missed market expectations on Friday, citing increasing chip costs caused by artificial intelligence demand and a sales slowdown in North America.The company reported an adjusted operating profit of 5.2 billion Swedish crowns ($566 million), excluding restructuring charges, for the first quarter of 2026. Analysts polled by Infront were expecting 5.4 billion crowns on average.Ericsson, one of the main Western suppliers of network equipment alongside Finland's Nokia, is betting heavily on the U.S. market even as transatlantic

China expected to keep benchmark lending rates steady after strong GDP data

Prosus to sell 4.5% stake in Delivery Hero to Uber for $318 million

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Deutsche Bank expects Fed to hold rates in 2026

Deutsche Bank expects the U.S. Federal Reserve to keep interest rates unchanged in 2026, citing oil-driven inflation risks linked to the Middle East war, resilient growth and a tight labour market that leave little room to cut. The brokerage had earlier pencilled in a 25-basis-point cut in September.Rate cuts this year would require some weakening in labor market conditions along with softer inflation, strategists at Deutsche Bank said in a note on Thursday.While brokerages such as J.P. Morgan and HSBC have ruled out any Fed rate cuts this year, peers including Goldman Sachs, Morgan Stanley a

Netflix shares fall after downbeat revenue forecast, co-founder to leave

Romanian broad ruling coalition parties must continue despite tensions, president says

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Acting ICE Director Todd Lyons to step down from agency

Acting Immigration and Customs Enforcement Director Todd Lyons is stepping down from his role later this spring, Homeland Security Secretary Markwayne Mullin announced Thursday.Lyons, a veteran of the federal agency, was tasked with overseeing the Trump administration’s mass deportation plan as the acting ICE chief, placing him under immense scrutiny as the agency ramped up arrests last year and on the heels of the shootings of two US citizens by federal agents in January.In a statement, Mullin called Lyons a “great leader of ICE and key player in helping the Trump administration remove mu

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Progressive Democrat wins New Jersey special election to succeed Mikie Sherrill

Voters in northern New Jersey chose Analilia Mejia, a progressive Democrat who worked on Senator Bernie Sanders' 2020 presidential election campaign, as their next representative in a special election on Thursday, according to U.S. media.The race was called minutes after polls closed, with Mejia leading by nearly 40 percentage points in early returns.Mejia's election will narrow Republicans' grip on the U.S. House of Representatives heading into the November midterm elections. She was favored over Republican Randolph Township Councilman Joe Hathaway to fill the seat vacated by former U.S. R

Arrest warrant issued for ICE officer accused of pulling gun on Minnesota driver

Sniping by justices underscores tension over Supreme Court’s ‘shadow docket’

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Former Virginia Lt. Gov. Justin Fairfax kills his wife and then himself, police say

Former Virginia Lt. Gov. Justin Fairfax, a once-rising star in the Democratic Party whose tenure was marred by sexual assault allegations, shot and killed his wife, Cerina Fairfax, inside their home and then killed himself, police said.The couple’s two teenage children were inside the home when the shootings occurred, Fairfax County Police Chief Kevin Davis said, noting their son had placed the 911 call.Fairfax County police responded to the home in Annandale, Virginia, shortly after midnight Thursday, where they found a man and woman dead inside, police said earlier.The shooting stemmed fro

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Trump’s arch gets overwhelmingly negative public feedback but appears poised to move forward

President Donald Trump’s proposed triumphal arch project received overwhelmingly negative feedback from preservationist groups and members of the public as plans for the massive structure were presented on Thursday to a key committee for the first time.But the Commission of Fine Arts still appears poised to approve the project and took a preliminary vote to move ahead with the process. The independent federal agency, which has been stacked with Trump loyalists, advises the president and Congress on design plans for monuments, memorials, coins and federal buildings.Trump has been deeply invol

Army secretary praises general who was fired by Hegseth

Pilot had to ‘slam on the brakes’ to avoid hitting a truck at Charlotte airport

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Less than a year after being fired, former FEMA chief is set to be reinstalled by Trump

President Donald Trump plans to nominate Cameron Hamilton to lead FEMA less than a year after he was unceremoniously fired from the disaster relief agency, three people familiar with the decision told CNN.Hamilton was first tapped to lead the Federal Emergency Management Agency at the start of Trump’s second term – when the administration was aggressively pursuing plans to eliminate the agency and shift responsibility for disaster response to the states.But Hamilton soon clashed with then-Homeland Security Secretary Kristi Noem and Corey Lewandowski, the longtime Trump ally helping her run

Jet fuel supplies are lagging. What does that mean for airlines and travelers?

A looming jet fuel shortage in Europe and Asia sparked by the Iran war and the effective closure of the Strait of Hormuz could further upend world travel within weeks if oil doesn't start flowing again soon — meaning higher airfares and flight cancellations as the summer travel season approaches. In an exclusive Associated Press interview Thursday, International Energy Agency Director Fatih Birol said Europe has “maybe six weeks” of remaining jet fuel supplies and said the global economy faces its "largest energy crisis." In general, some European countries

Zohran Mamdani's wife Rama Duwaji apologizes for the 'harmful' social media posts she made as a teen

ICE acting director Todd Lyons will resign at end of May, DHS says

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Trump administration restores funding to Manhattan subway project after NY sues

The Trump administration has agreed to resume funding a key Manhattan subway project after New York officials sued. The U.S. Department of Transportation said in a federal court filing Thursday that it has completed its review of the Second Avenue subway line project, and will begin reimbursing state transit officials again for construction costs. Janno Lieber, MTA's CEO, said the reversal means “long-awaited transit justice” will soon come to neighborhoods in upper reaches of Manhattan. The Second Avenue subway project is building new stations northward along

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Cuban leader, marking Bay of Pigs anniversary, vows to defeat US forces if attacked again

Cuba’s president says his nation does not want war with the United States, but he vows that, if attacked, Cubans would defeat American forces.Dressed in military fatigues, Miguel Díaz-Canel addressed a crowd of government supporters commemorating the 65th anniversary Thursday of the start of the US-backed Bay of Pigs invasion. The failed attempt by a CIA-trained force of Cuban exiles to oust Fidel Castro prompted the Cuban revolutionary leader to openly declare his support for socialism for the first time, setting up a Cold War-era standoff with the US that endures to this day.The 1961 deba