Wall Street analysts expect another strong year in stocks in 2026, propelled by continued AI sector gains and additional Fed interest-rate cuts.
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By Michael S. Derby
NEW YORK, Dec 17 (Reuters) – Federal Reserve Governor Christopher Waller said Wednesday that the U.S. central bank still has room to cut interest rates amid concerns that the job market has softened.
“I still think we’re probably, you know, maybe we’re 50 to 100 basis points off of neutral,” which means the Fed still has room to cut interest rates, Waller said at the Yale School of Management CEO Summit in New York.
Given the outlook, “there’s no rush to get down” on interest rates, Waller said, and “we just can steadily, kind of bring the policy rate down towards neutral” amid what’s likely to be an economy with moderating inflation.
(Reporting by Michael S. Derby; Editing by Andrew Heavens)
The votes follow a monthslong military campaign against alleged drug smuggling boats in the Caribbean Sea and eastern Pacific Ocean.
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LONDON (AP) — Russian billionaire Roman Abramovich has been given a final chance to turn over the 2.5 billion pounds ($3.25 billion) that he promised to give victims of Russia’s war in Ukraine from the sale of Premier League club Chelsea, the British government said Wednesday.
Abramovich was forced to sell the club after being sanctioned by the U.K. for his connection to Russian President Vladimir Putin, following Moscow’s full-scale invasion of Ukraine. Before the sale in 2022, Abramovich said that he would set up a war victims’ charity, but hasn’t followed through.
“The clock is ticking on Roman Abramovich to honor the commitment he made when Chelsea FC was sold,” Prime Minister Keir Starmer said. “This government is prepared to enforce it through the courts, so that every penny reaches those whose lives have been torn apart by Putin’s illegal war.”
Abramovich couldn’t immediately be reached for comment.
The funds are frozen, but still belong to Abramovich, and negotiations have failed to reach an agreement on their release.
Abramovich, who bought Chelsea in 2003, sold the club to a consortium fronted by Americans Todd Boehly and Clearlake Capital. Chelsea won the Champions League twice and the Premier League five times — among other titles — during Abramovich’s time as owner.
Nick Reiner appeared in a Los Angeles court on Wednesday, but his arraignment has been postponed until Jan. 7, his lawyer Alan Jackson told reporters. CBS News’ Adam Yamaguchi has the latest.
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By David Shepardson
WASHINGTON, Dec 17 (Reuters) – The head of the Federal Communications Commission will face questions on Wednesday from the Senate Commerce Committee after facing bipartisan criticism for pressuring broadcasters to take ABC late-night talk show host Jimmy Kimmel off the air in September.
FCC Chair Brendan Carr will testify alongside commissioners Olivia Trusty and Anna Gomez.
The hearing comes as President Donald Trump has repeatedly pressured Carr to take action against U.S. broadcasters, criticized news coverage and said he will have a role in whether a proposed merger between Netflix and Warner Bros Discovery should go forward.
Last month, Trump criticized an ABC News correspondent for asking Saudi Arabia’s crown prince about the 2018 killing of a Washington Post columnist and suggested the commission should move to revoke the broadcast licenses of Disney-owned ABC stations.
Soon after those comments, Carr said the FCC was opening a review of agreements between national networks and local broadcast stations.
“The FCC is going to continue its efforts to empower local broadcasters to meet their public interest obligations,” Carr’s written testimony says, which does not reference the Kimmel episode.
Gomez said in her written testimony the FCC under Carr has moved “to intimidate government critics, pressure media companies, and challenge the boundaries of the First Amendment,” and has “undermined its reputation as a stable, independent, and expert-driven regulatory body.”
ABC briefly suspended Kimmel’s show over comments he made about the assassination of conservative activist Charlie Kirk. Hours before the suspension, Carr warned that local broadcasters who aired Kimmel could face fines or loss of licenses and said “it’s time for them to step up.”
In September, Senate Commerce Committee chair Ted Cruz sharply criticized Carr after the FCC chair threatened Disney and local broadcasters airing Kimmel’s show. Cruz said the comments were “dangerous as hell.”
Sinclair and Nexstar Media Group both quickly ended a boycott of the Kimmel show.
Carr will also face questions from Democrats about FCC pressure on other broadcasters.
In July, the FCC approved the $8.4 billion merger between CBS parent Paramount Global and Skydance Media after Skydance agreed to ensure CBS news and entertainment programming is free of bias, and hire an ombudsman to review complaints and end diversity programs.
In January, Carr reinstated complaints about a CBS interview with then Vice President Kamala Harris, how ABC News moderated a debate between then-President Joe Biden and Trump, and Comcast-owned NBC for allowing Harris to appear on “Saturday Night Live” shortly before the election.
(Reporting by David Shepardson in Washington; Editing by Stephen Coates)
Nick Reiner, son of Hollywood director and actor Rob Reiner and his wife, Michele, has been charged with two counts of first-degree murder in their deaths.
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Visit a Uyghur restaurant in Southern California, where culture is shared and the food is made with love. Plus, a man who wanted to save his friends life by donating a kidney ends up saving his own life.
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