Latest Government policy News

Wall Street roars after inflation cools more than expected

Aug. 10, 2022 11:23 AM EDT

NEW YORK (AP) — Wall Street roared Wednesday after inflation cooled more than expected last month, sparking speculation the Federal Reserve may not have to be as aggressive about hiking interest rates as feared. The S&P 500 was 1.9% higher amid a widespread rally that launched...

Veterans 'burn pits' bill marks a personal victory for Biden

Aug. 10, 2022 11:02 AM EDT

WASHINGTON (AP) — President Joe Biden, whose elder son died of cancer after serving in Iraq, signed legislation on Wednesday expanding federal health care services for veterans who served at military bases where toxic smoke billowed from huge “burn pits.” “So many of you here...

EU to stop Greek budget watch in formal end to major crisis

Aug. 10, 2022 10:46 AM EDT

BRUSSELS (AP) — The European Union’s budget watchdog announced Wednesday that it is winding up years of surveillance of Greek government spending. The move marks a formal end to a major crisis that threatened to see Greece ejected from the euro single currency group, imposed severe hardship on...

Seoul dismisses Beijing's concerns over anti-missile system

Aug. 10, 2022 10:09 AM EDT

SEOUL, South Korea (AP) — South Korea's government stressed Wednesday it will make its own decisions in strengthening its defenses against North Korean threats, rejecting Chinese calls that it continue the polices of Seoul’s previous government that refrained from adding more U.S. anti-missile...

German FinMin pitches $10B tax cuts to ease inflation pain

Aug. 10, 2022 09:27 AM EDT

BERLIN (AP) — Germany's finance minister said Wednesday that the government plans to make tax cuts worth more than 10 billion euros ($10.2 billion) to benefit broad sections of the population squeezed by high energy costs and inflation. Finance Minister Christian Lindner said about...

Japan PM purges Cabinet after support falls over church ties

Aug. 10, 2022 08:21 AM EDT

TOKYO (AP) — Japanese Prime Minister Fumio Kishida reshuffled his Cabinet on Wednesday in an apparent bid to distance his administration from the conservative Unification Church over its ties to the assassinated leader Shinzo Abe and senior ruling party members. The reshuffle,...

'We're back, baby': New bill boosts US climate credibility

Aug. 10, 2022 00:28 AM EDT

WASHINGTON (AP) — After a moment when hopes dimmed that the United States could become an international leader on climate change, legislation that Congress is poised to approve could rejuvenate the country’s reputation and bolster its efforts to push other nations to reduce greenhouse gas...

In race to win, UK Conservatives accused of ignoring crises

Aug. 10, 2022 03:51 AM EDT

LONDON (AP) — As Britain swelters through a roasting summer, and braces for a cold financial reckoning in the fall, calls for the Conservative government to act are getting louder. But the Conservatives are busy choosing a new leader, through a prolonged party election whose...

At 75, India’s Kashmir challenge shifts foreign policy focus

Aug. 10, 2022 01:09 AM EDT

SRINAGAR, India (AP) — For decades, India has tried to thwart Pakistan in a protracted dispute over Kashmir, the achingly beautiful Himalayan territory claimed by both countries but divided between them. That relentless competition made Pakistan always the focus of New Delhi’s...

Asian stocks fall ahead of US inflation

Aug. 10, 2022 00:25 AM EDT

BEIJING (AP) — Asian stocks followed Wall Street lower Wednesday ahead of U.S. inflation data that traders worry will show upward pressure on prices still is too strong for the Federal Reserve to ease off interest rate hikes. Shanghai, Tokyo, Hong Kong and Seoul declined. Oil...