Business

The US central bank has cut interest rates for the second time in a row as the independent agency's future becomes uncertain under a second Donald Trump presidency.The Federal Reserve, known as the Fed, has brought rates down to 4.5% to 4.75%. Unlike the UK, the US interest rate is a range to guide lenders rather than a single percentage. But as is the case with the UK, it's only the second time in more than four years the US regulator has cut rates.Rates have been dropped as inflation fell to 2.4%, not far off the Fed's 2% target, and the weakest jobs report of the Biden administration was posted in September. The regulator is tasked with both maintaining price stability and maximum US employment.The cut also comes after US recession fears in August sparked a global stock market sell-off....

A woman who alleges she was raped by MMA star Conor McGregor has denied that CCTV footage from the day in question "flatly contradicts" her account.In an emotional morning of cross-examination, the woman's version of events were questioned by McGregor's counsel, Remy Farrell SC. In CCTV footage played to the court, dated after the time of the alleged rape, McGregor is seen getting into a lift with the woman, his co-defendant James Lawrence, and the woman's friend.It appears to show the woman getting close to McGregor, in an act his lawyers say was a hug, and also appearing to kiss him on the arm.The woman told the court that it was "very disturbing" for her to watch the footage. She said: "I'm very drunk, I'm stumbling. It's not my character. I'm very vulnerable and I don't want to have to...

Four bodies have been found in the English Channel and more than 50 migrants rescued.Fifty-one people were rescued after a boat got into difficulty off the coast of Audresselles in northern France overnight on Monday, French authorities said.On Tuesday, a ferry reported seeing a body floating in the water off the coast of Calais, prompting a search which led to the discovery of another body.The French coastguard said two more people were found dead in the water off the Calais coast on Wednesday.All four bodies were brought ashore and an investigation has been launched but it has yet to be confirmed whether the people who died were migrants.It comes as figures published by the government on Thursday show more than 3,000 migrants arrived on Channel crossings in the last fortnight.A total of ...

Prince William has been met by a handful of protesters, outweighed by excited crowds, as he finished his tour of Cape Town.William was visiting Kalk Bay Harbour to highlight the contributions of 2023 Earthshot finalist Abalobi, a social enterprise which aims to protect small-scale fishing communities while also promoting sustainable fishing methods. But as the prince walked along the harbour front shouts could be heard from local fishermen and women in the crowd.Speaking to Sky News Mymoena Poggenpoel, who has carried on her family's fishing business and owns two boats, said they weren't protesting against the prince but felt excluded from the event."It wasn't inclusive, that's our concern. If you look at these boats, they're all independently owned, from our forefathers, our fathers to th...

Israeli strikes in eastern Lebanon have killed 40 people, according to the country's health ministry. The strikes also wounded 53 more people around the eastern city of Baalbek in the Beqaa Valley on Wednesday, as Israel's operation against the Hezbollah militant group continues.The Israeli military has not commented.More than 3,000 people have been killed by Israeli strikes in Lebanon in the past year, but most deaths have happened over the past six weeks as violence between the Iran-backed militants and the Israel Defence Forces (IDF) escalated.Late on Wednesday and earlier on Thursday, further strikes hit Beirut's southern suburbs, after the Israeli military ordered residents to evacuate several locations.This morning, one large airstrike hit a site next to Lebanon's only international ...

Spanish authorities have shared dramatic footage of a raid on a property linked to the seizing of 13 tonnes of cocaine, in what they described as the biggest anti-narcotics operation in the country's history.Officials found bricks of drugs hidden in a shipment of bananas in a container from Ecuador at the port of Algeciras in southern Spain last month, police said yesterday. The haul, described as the second largest anti-narcotics operation in the EU, had an eyewatering street value of £659m, according to 2022 mean prices from the European Union Drugs Agency.The whole price is estimated to have been at £387.5m.The cargo container had sailed from Guayaquil, Ecuador. X This content is provided by X, which may be using cookies and other...

US President Joe Biden is expected to address the nation this afternoon after Donald Trump was elected as his successor in an extraordinary political comeback.Mr Biden, who was replaced by vice president Kamala Harris as the Democrats' presidential candidate over concerns about his mental fitness, will speak at 4pm (UK time), the White House said on Thursday. He has already issued a statement in which he said Ms Harris "stepped up and led a historic campaign" that "embodied what's possible when guided by a strong moral compass and a clear vision for a nation".US election latest: Trump to select team in daysBut later today will be the first time the country will hear from the president in person. Mr Biden called Mr Trump after his emphatic victory in the US presidential election on Wednesda...

The UK has sanctioned a Russian military officer accused of helping poison former double agent Sergei Skripal with novichok in Salisbury.The Foreign Office has imposed 56 new sanctions on people and entities linked to Russia, including those in the Wagner mercenary group that operates unofficially on Vladimir Putin's behalf, and companies based in China, Turkey and central Asia supplying parts to Russia. Denis Sergeev, who the Met Police charged over the attempted murder of double agent Mr Skripal, has been sanctioned under the chemical weapons sanctions regime.Politics latest: Trump victory dominates European leaders' summit"Sergeev provided support in the preparation and use of the chemical weapon novichok in Salisbury...and provided a coordinating role in London on the weekend of the at...

Israeli strikes in eastern Lebanon have killed 40 people, according to the country's health ministry. The strikes also wounded 53 more people around the eastern city of Baalbek in the Beqaa Valley on Wednesday, as Israel's operation against the Hezbollah militant group continues.The Israeli military has not commented.More than 3,000 people have been killed by Israeli strikes in Lebanon in the past year, but most deaths have happened over the past six weeks as violence between the Iran-backed militants and the Israel Defence Forces (IDF) escalated.Late on Wednesday and earlier on Thursday, further strikes hit Beirut's southern suburbs, after the Israeli military ordered residents to evacuate several locations.This morning, one large airstrike hit a site next to Lebanon's only international ...

A "dangerously fast" wildfire in California fuelled by strong winds has spread, destroying dozens of homes and forcing thousands of people to flee - as forecasters warned of the potential for "extreme and life-threatening" blazes.The fire in Ventura County grew from less than half of a square mile to 16 square miles in just over five hours. Image: Firefighters have been racing to homes to save lives. Pic: AP "This fire is moving dangerously fast," Ventura County fire chief Dustin Gardner said."Bushes are burning, grass is burning, hedgerows are burning, agricultural fields are burning, and structures are burning." Image: Santa Paula, California. Pic: AP Th...