US rate hike expected despite crisis of confidence after third bank failure

The US central bank is widely expected on Wednesday to raise its main interest rate for the tenth consecutive month in the continuing battle against inflation, despite worries over the impact on bank balance sheets. While higher interest rates are generally good news for bank earnings, the Federal Reserve’s aggressive pace of rate rises in […]

The million dollar streets strewn with bodies contorted by the effects of fentanyl

Bodies are strewn on the doorstep of San Francisco’s main government building, contorted by the effects of fentanyl, a painkiller 100 times more potent than morphine. We’re two streets away from the headquarters of Twitter, in a city district with more billionaires than anywhere on Earth, but this has become an open-air drug market. Trevor […]

At least six killed and dozens wounded in car crashes during dust storm in Illinois

At least six people have been killed and dozens of other people have been injured following major car crashes caused by a dust storm in southern Illinois, state police said. The multi-vehicle pile-up took place on the I-55 road south of Springfield in central Illinois, police said. The coroner’s office confirmed that at least six […]

Manhunt for gunman who shot dead five neighbors in Texas enters its fourth day

The search for a suspected gunman has entered its fourth day after five neighbors were shot dead in Texas – as a grieving father has recalled the moment his wife and young son were killed. Francisco Oropesa, who is considered to be armed and dangerous, is believed to have fled the rural town of Cleveland […]

US Army grounds air units for training after deadly helicopter crashes

Army air units in the US have been grounded for training after deadly helicopter crashes in Alaska and Kentucky killed 12 soldiers in the past month. Operations have been suspended with immediate effect until personnel undergo instruction. For active-duty units, the training will take place in the coming week, while national guard and reserve troops […]

First Republic: JP Morgan to take over assets after lender becomes fourth to fail in two months

JP Morgan has agreed a deal with regulators to acquire the “substantial majority” of First Republic’s assets, including $173 billion (£138bn) of loans. The California Department of Financial Protection and Innovation announced early on Monday it had taken possession of First Republic and the Federal Deposit Insurance Corporation (FDIC) would act as its receiver. The […]

Three soldiers dead and one injured as two US army helicopters crash in Alaska

Two of the soldiers died at the scene, with the third dying while on the way to hospital. A fourth soldier is being treated in hospital for injuries following the crash on Thursday, which involved two AH-64 Apache helicopters returning from a training flight in the Healy region of the northwestern state. The soldiers’ identities […]

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