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The Federal Reserve announced Wednesday it will leave interest rates unchanged.The Fed decision comes amid demands from President Donald Trump to lower the key borrowing rate benchmark, and escalating attacks on Fed Chair Jerome Powell even hours before the announcement.Trump has been pressuring Powell for a rate cut, arguing that maintaining a fed funds rate that is too high makes it harder for businesses and consumers to access cash, adding more strain to the U.S. economy. But Powell has said that the federal funds rate is likely to stay higher as the economy changes and policy is in flux. That’s enough to keep the central bank on the…

Topline Google AI Overview and AI Mode could further slash online media revenue. Will Reddit capitalize on its user-generated content to defy this trend? The Google AI logo appears on a smartphone screen in this illustration photo in Reno, United States, … More on December 18, 2024. (Photo Illustration by Jaque Silva/NurPhoto via Getty Images)NurPhoto via Getty Images Key Facts AI chatbots are replacing Google search, which is devastating some online publishers’ traffic. Online publishers are cutting staff as they struggle to find new sources of revenue. Reddit’s licensing of its content to train Google’s language models and selling ads…

The Senate has begun deliberations over President Donald Trump’s massive “Big Beautiful Bill” that narrowly passed the House on May 22.Bloomberg | Bloomberg | Getty ImagesThe Senate version of the One Big Beautiful Bill Act includes a temporary enhanced deduction for seniors ages 65 and up. The House of Representatives also proposed such a tax break in its text, calling it a “bonus.”Notably, the Senate is calling for a deduction of up to $6,000 per qualifying individual. The House included a $4,000 deduction.The senior “bonus” is in lieu of the elimination of taxes on Social Security benefits that President Donald…

KARACHI: The Pakistan Billiards and Snooker Association (PBSA) has sounded the alarm on Tuesday as it revealed a severe financial crisis jeopardizing the upcoming 2025-2026 snooker season and Pakistan’s participation in crucial international tournaments. In a press release directed at the Federal Minister for Inter-Provincial Coordination (IPC), the Association appealed for urgent intervention. The PBSA stated it is on the brink of launching its new season but faces critical financial constraints impacting its ability to fund international participation, maintain the domestic circuit and cover essential secretariat expenditures. The core issue, according to the PBSA, is the non-receipt of any financial…

Actor turned politician Kangana Ranaut has been named the Brand Ambassador of the New Delhi 2025 World Para Athletics Championships, which will be held from September 27 to October 5 this year. This is the 12th edition of the sporting event and touted as the largest para sport event ever held in India. The news of her appointment was announced by the Paralympic Committee of India as well as on Ranaut’s X page where she said, “It is a true honour to stand with our para-athletes and celebrate their indomitable spirit.” Ranaut took oath as a BJP member of parliament…

Oscar Wong | Moment | Getty ImagesAs Senate Republicans race to pass President Donald Trump’s “big beautiful” spending bill, key provisions, including the child tax credit, could change amid Senate-House negotiations.The Tax Cuts and Jobs Act, or TCJA, of 2017, temporarily boosted the maximum child tax credit to $2,000 from $1,000, which will expire after 2025 without action from Congress.  If enacted, the Senate bill would permanently increase the biggest credit to $2,200 starting in 2025, according to a draft of the text released on Monday. The measure would also index this figure for inflation after 2025.By comparison, the House-approved bill…

Washington CNN  —  Rising unemployment will likely be what pulls the trigger for the Federal Reserve to finally begin lowering interest rates again, economists say. Since January, the Fed has stood on the sidelines, keeping its benchmark lending rate unchanged at about 4.4%. Officials have said in recent speeches that they want to see how President Donald Trump’s significant policy changes, including on tariffs, affect the US economy first before considering further rate cuts. Renewed tensions in the Middle East add even more to the uncertainty that has paralyzed the central bank. Officials are expected to continue with their strategy…

LAHORE: The International Cricket Council (ICC) on Tuesday unveiled the schedule for the ICC Women’s World Cup, to be jointly hosted by India and Sri Lanka from September 30 to November 2. Pakistan will commence their campaign on October 2 against Bangladesh at the R. Premadasa Stadium in Colombo, where all their group-stage matches are set to be played. This arrangement is in line with the hybrid model announced by the ICC last year. Led by all-rounder Fatima Sana, Pakistan qualified for the eight-team event after an unbeaten run in the ICC Women’s World Cup Qualifier, held in here earlier…

GLASGOW: The Netherlands beat Nepal but needed a record-breaking three Super Overs to clinch victory in their Twenty20 International tri-series match in Glasgow on Monday, the first time a triple Super Over has been seen in T20 or limited-overs cricket. The Dutch posted 152 for seven and appeared set for the win as Nepal required 16 runs from the final over, but Nandan Yadav scored a boundary on the last ball to force a Super Over. Nepal made 19 runs which the Dutch matched thanks to Max O’Dowd hitting a six on the final ball, and a second Super Over…

How Trump accounts workNot unlike a 529 college savings plan, Trump accounts come with a tax incentive. Earnings grow tax-deferred, and qualified withdrawals are taxed as long-term capital gains.Under both the House and Senate versions of the bill, withdrawals could begin at age 18, at which point account holders can tap up to half of the funds for education expenses or credentials, the down payment on a first home or as capital to start a small business.At 25, account holders can use the full balance for expenses that fall under those same guidelines and at 30, they can use the money…