The House’s historic vote to remove GOP Rep. Kevin McCarthy from the post of speaker is rattling Washington this week, with analysts seeing an impact on a range of funding fights.Until the 216-210 vote on Tuesday, no House speaker had ever been ousted by what’s called a “motion to vacate.”…

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Yet another surge in the dollar and U.S. bond yields on Monday suggests the momentum in these assets – which set the tone for markets around the world – is…

The Federal Reserve is close to ending a cycle of interest-rate hikes designed to stamp out high inflation. And now the political chaos in Washington could raise an already high bar for another rate hike. The Fed two weeks ago left its key short-term U.S. interest rate unchanged, but it…

By Jack Queen and Luc Cohen NEW YORK (Reuters) – A defiant Donald Trump attacked New York’s attorney general and the judge overseeing his civil fraud trial as it began on Monday, with a state lawyer accusing the former president of generating more than $100 million by lying about his…

President Joe Biden on Wednesday said he’ll be making a major speech on the issue of more U.S. aid for Ukraine, telling reporters he would announce some details “very shortly.” The address would come as analysts say American funding for Ukraine’s fight against Russia’s invasion faces a more uncertain future…

By Kate Abnett BRUSSELS (Reuters) -The European Parliament’s environment committee on Monday delayed a decision on whether to accept former Dutch foreign minister Wopke Hoekstra as the EU’s next climate change policy chief, after he sought their backing in a three-hour hearing. The decision on Hoekstra, a centre-right conservative, is…

LONDON (Reuters) – Prices in British store chains rose at the slowest pace in a year in September, according to industry data that adds to signs that the UK’s high inflation rate is set to extend its recent fall. The British Retail Consortium said annual shop price inflation cooled to…

The numbers: Home buying demand dropped as U.S. mortgage rates rose for the fourth week in a row to the highest level since 2000. Mortgage demand dropped to the lowest level since 1996 as rates surged across the board due to a recent jump in Treasury yields. An increase in…

By Philip Blenkinsop (Reuters) – Nothing illustrates the crisis at the World Trade Organization more than the piling up of unresolved disputes and the growing list of what it terms the “trade concerns” of its members. Since late 2019, after the U.S. blocked the appointment of new judges to the…

That’s one tough gavel. At least that’s the reaction some might have had after Rep. Patrick McHenry, a Republican from North Carolina, slammed said gavel to announce on Tuesday that Rep. Kevin McCarthy, his Republican colleague from California, had been removed his role as House speaker. The slam set off…