Inflation soars to 31-year high in US as concerns grow globally
19 November 2021 | 10:50 am
The US consumer price index rose at an annual rate of 6.2 percent in October, its biggest jump since 1990. Also, amid the country's tight labour market, Starbucks workers hope to form the first-ever unions at the company's US branches. Finally, Tesla CEO Elon Musk sells $5 billion in company shares.
The vote by lawmakers in the Democratic-majority House follows mass shootings in Uvalde, Texas, and Buffalo, New York. The measure is unlikely to pass in the Senate.
Almost 10 months ago, Afghanistan fell into the hands of the Taliban. The hardline Islamists' return to power led to a mass exodus of the Afghan population, with the US taking in some 78,000 refugees. California received the largest number, followed by Texas, where some 10,500 Afghans are already calling the Lone Star State home. Texans are proud to welcome them, as our correspondents report.
The 8.6% yearly increase is the biggest since 1981. President Biden's efforts to stem the tide are having little effect as the impact of Russia's invasion of Ukraine continues to hit global economies.
At rallies held across the US, protesters had one message for lawmakers: They have had enough. Protesters called for stricter gun laws following another spate of mass shootings.
In a bid to reassert US influence in Latin America and counter Chinese influence, Biden signed a new pact to take more laborers and offer greater humanitarian assistance to migrants.
The US Defense Secretary said Chinese military activity around the self-governing island threatened to change the status quo. Lloyd Austin said Washington would continue to stand by Taiwan at an event in Singapore.
Starting on Sunday, international passengers flying to the United States will no longer have to present a negative COVID-19 test before boarding the plane.
The Japanese and Indian currencies plunged to their lowest records in decades against the US dollar as Washington looked set to hike interest rates in a bid to tackle inflation.
The Yellowstone National Park was closed down for the first time since 1988 due to torrential rains, flooding and melting snow. The park was just opening for the summer tourist season.
Former US President Donald Trump's closest advisors and family described the effort to push election lies. His former Attorney General William Barr at one point said he was "detached from reality" in Monday's hearing.
Wall Street had one of its worst days in recent weeks on Monday as a worse-than-expected US inflation figure last Friday fuelled concern about more aggressive rate hikes to come from the Federal Reserve. Cryptocurrencies also continued to tank after a lender froze withdrawals. Plus, as Europe looks to bolster the continent's energy security, France's TotalEnergies signs a deal with Qatar on a major gas field project.
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