• Reuters

    Trump, not yet in office, already a figure in global economic policy

    The world's economic reckoning with the incoming administration of U.S. President-elect Donald Trump began in earnest this week, with some Federal Reserve officials penciling in estimates for higher inflation and restrictive interest rates, a surprise resignation in Canada over budgeting for prospective tariffs and a hyper focus on a potential status upgrade for bitcoin. The Fed cut rates as expected on Wednesday amid a busy year-end run of central bank meetings from Ottawa and Frankfurt to Tokyo and London that showed officials starting to deal with heightened uncertainty ahead of the world's largest economy coming under Trump's leadership early in the new year. Indeed, Fed officials not only dialed back projections for how much further U.S. borrowing costs can fall in the face of stiffer-than-expected inflation, Fed Chair Jerome Powell said some among them were already taking a shot at judging how Trump's plans such as higher tariffs, lower taxes and a crackdown on immigration might affect their monetary policymaking in the months ahead.

  • The Canadian Press

    Invasive 'murder hornets' are wiped out in the US, officials say

    SEATTLE (AP) — The world's largest hornet, an invasive breed dubbed the “murder hornet” for its dangerous sting and ability to slaughter a honey bee hive in a matter of hours, has been declared eradicated in the U.S., five years after being spotted for the first time in Washington state near the Canadian border.

  • Reuters

    Britain seeks to beef up Ofgem energy regulator's powers

    Britain set out plans on Thursday to strengthen its energy regulator Ofgem to help facilitate the country's shift towards a decarbonised energy system by 2030 and better protect consumers against bad treatment by suppliers. The Labour government, elected in July, has set out plans to radically overhaul how electricity is generated in Britain, shifting almost entirely away from fossil fuels in favour of green energy sources. Meeting that goal is seen as a huge challenge that will require massive private and public investment as well as big changes to the energy grid, which Ofgem has a role in approving.