Big banks, business groups sue US Federal Reserve over annual ‘stress tests’

Major banks and business groups sued the Federal Reserve on Tuesday, alleging the U.S. central bank’s annual “stress tests” of Wall Street firms violate the law. The lawsuit filed in U.S. District Court in Columbus, Ohio, claims the Fed’s practice of determining how big banks perform against hypothetical economic turmoil, and assigning capital requirements accordingly,…

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American Airlines operations up and running again after technical issue grounded US flights

American Airlines flights were cleared to fly by regulators early Tuesday after a brief grounding due to a systemwide technical issue. Just before 7 a.m. Eastern time, the Federal Aviation Administration ordered all American Airlines flights grounded in the U.S. at the airline’s request. American had reported a technical issue affecting its entire system with…

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VOA Mandarin: Trump’s new AI policy seeks to loosen regulations, support innovation, defeat China

U.S. President-elect Donald Trump has vowed to repeal President Joe Biden’s executive order on artificial intelligence security, setting the stage for deregulation for AI companies by nominating pro-business, pro-startups Silicon Valley leaders. The nomination of Jacob Helberg, an outspoken China critic, for a key State Department post indicates Trump’s intention to lead over China in…

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Experts urge US to use Taiwan logistics pact to counter China’s military coercion

WASHINGTON — A recently released U.S. government report details China’s ongoing efforts to “erode long-standing norms in and around Taiwan” through various pressure tactics, including increased military flights crossing the Taiwan Strait median line.  While U.S. officials have expressed serious concerns, some military experts argue that Washington’s response has been ineffective in curbing Chinese aggression.  To…

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US House Ethics Committee expected to release long-anticipated Matt Gaetz report Monday

Washington — The U.S. House Ethics Committee is expected to release its long-awaited report Monday into former Representative Matt Gaetz, ending a yearslong investigation into allegations of sexual misconduct with minors and use of illicit drugs while the Florida Republican was in office. The anticipated release comes after at least one Republican joined all five Democrats…

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Albanian PM says TikTok ban was not ‘rushed reaction to a single incident’

Tirana, Albania — Albania’s prime minister said Sunday the ban on TikTok his government announced a day earlier was “not a rushed reaction to a single incident.” Edi Rama said Saturday the government will shut down TikTok for one year, accusing the popular video service of inciting violence and bullying, especially among children. Authorities have held…

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Media report: More than 3,100 Native American children died in US boarding schools

Washington — At least 3,104 Native American children died in boarding schools in the United States, taken from their families to be forcibly assimilated, The Washington Post reported on Sunday, with its estimate three times higher than that of the American government. In these establishments, some of which were religious and which existed from the beginning…

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What Assad’s fall has revealed about Syria’s trade in stimulant drug Captagon

BEIRUT — Since the fall of former Syrian President Bashar Assad, industrial-scale manufacturing facilities of the amphetamine-like stimulant Captagon have been uncovered around the country, which experts say fed a $10 billion annual global trade in the highly addictive drug. Among the locations used for manufacturing the drug were the Mazzeh air base in Damascus, a…

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