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Asian Development Bank cuts regional growth forecasts on impact of war in Middle East

The Asian Development Bank on Wednesday cut its economic growth forecast for the region to 4.7% this year and 4.8% next year, down from earlier projections of 5.1% for both years, due to the war in the Middle East.It also raised its inflation forecast for Asia and the Pacific to 5.2% in 2026 from an earlier projection of 3.6%.ADB President Masato Kanda called it a "significant downward revision" that reflected how the war had raised energy prices, tightened financial conditions and weighed on economic activity across the region.“We are confronting systemic, long-lasting disruptions to glob

Spot crude premiums ease from record highs despite Hormuz closure

Trump meets with oil executives as Iran stalemate drags on, Axios reports

The Latest: Talks to end the war in Iran stall as economies feel the impact of rising energy costs

Talks between Iran and the United States on ending the war seemed stalled Wednesday, despite U.S. President Donald Trump earlier claiming Iran had informed his administration that it was in a “State of Collapse.” “They want us to ‘Open the Hormuz Strait,’ as soon as possible, as they try to figure out their leadership situation,” Trump posted on social media. The White House did not immediately respond to questions about how the message was communicated. Meanwhile, Pakistan said its weekly oil import bill has surged by about 167% due to s

Taiwan's UMC sees headwinds, but predicts resilient demand and will raise prices

Wall Street futures mixed ahead of Big Tech earnings, Fed meeting

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Another Russian oil facility burns after Zelenskyy touts Ukraine’s drone reach

Another oil facility deep inside Russia was reportedly on fire Wednesday following what Ukraine’s president claimed was his country’s latest long-range drone attack. The facility is in the Perm region of Russia, located in the Ural mountains more than 1,500 kilometers (900 miles) from Ukraine, Russian media said, with some unconfirmed reports saying it was a pumping station and storage complex. Perm Gov. Dmitry Makhonin said only that a drone hit an unspecified industrial facility, sparking a fire. Russian officials have not been forthcoming about

Elon Musk to return to witness stand in trial over OpenAI's future

What the Fed has seen about the war's impact on the economy so far

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Supreme Court to weigh Trump administration push to end protections for Haitian, Syrian migrants

The Supreme Court will hear arguments Wednesday over the Trump administration’s push to end legal protections for migrants fleeing war and natural disaster, one in a series of immigration cases the high court is considering against the backdrop of the president’s far-reaching immigration crackdown. The government is appealing lower court orders that blocked the Department of Homeland Security from quickly ending temporary protected status for people from Haiti and Syria. If the justices agree with the Trump administration, authorities could potentially strip protections from

US pump prices near 4-year high on Iran war disruption, refinery outages

The average U.S. gasoline price rose to its highest level in nearly four years after the U.S. and Israel attacked Iran at the end of February, according to data from the American Automobile Association.Average prices at the pump rose 7 cents to $4.18 a gallon on Tuesday, representing the biggest single-day increase in more than a month, AAA data showed. Gasoline prices have climbed $1.19 a gallon, or more than 40%, since late February.Motorists around the country have been feeling pain at the pump as energy costs soar amid conflict in the Middle East that has choked shipping traffic through t

Senate rejects attempt to end Trump's blockade of Cuba

LIV Golf moves to postpone New Orleans event amid clouded future

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Jalen Brunson scores 39 points and the Knicks rout the Hawks 126-97 for a 3-2 series lead

Jalen Brunson scored 39 points, nearly extending his own franchise record for 40-point playoff games, and the New York Knicks routed the Atlanta Hawks 126-97 on Tuesday night for a 3-2 lead in the first-round playoff series. With their second straight lopsided victory, the Knicks positioned themselves to win the series Thursday night in Atlanta. They would have another chance at home in Game 7 if they need it — and it's getting harder to picture why they should. The Hawks took a 2-1 lead in the series with one-point victories in Games 2 and 3, but a pretty sizabl

GM lifts profit outlook, flags expected tariff refund

General Motors posted on Tuesday a 22% rise in first-quarter core profit and lifted its full-year earnings forecast, buoyed by a resilient U.S. car market and an expected tariff refund. The largest U.S. automaker by sales comfortably beat analysts' profit estimates while navigating a fast-changing geopolitical and regulatory backdrop that is reshaping the industry. U.S. tariffs and higher energy costs linked to the Iran war are weighing on results, even as looser U.S. pollution and fuel-economy rules introduced last year under President Trump are lifting margins.Pickup-truck sales, a key prof

JPMorgan CEO says not worried about inflation, risks remain of higher prices

James Comey responds to new indictment over alleged ‘threat’ against Trump

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How traffic through the Strait of Hormuz shrank to a trickle – a visual deep dive

As the war in Iran enters its ninth week with no clear end in sight, shipping traffic in the Persian Gulf and the Strait of Hormuz has been completely reshaped, heavily disrupting global markets and supply chains for oil, natural gas, fertilizer and other essential products.Before the United States and Israel launched their attacks on Iran in late February about 3,000 vessels typically passed through the Strait of Hormuz each month, according to Lloyd’s List Intelligence. Oil tankers passing through accounted for an estimated 15 million barrels per day of crude and other oil product exports,

Americas|Crime|Political|World

El Jardinero: What to know about ‘The Gardener,’ the Mexican cartel figure arrested in a ditch

Mexican federal forces have arrested one of the alleged commanders of the Jalisco New Generation Cartel (CJNG), Audias Flores Silva, who was considered a possible successor to Nemesio “El Mencho” Oseguera Cervantes, the CJNG leader who died after a military operation to capture him in February.At the time of his capture, Flores Silva – aka El Jardinero (“The Gardener”) – had an arrest warrant against him in Mexico and was wanted by the United States for drug-related crimes.CNN has contacted the Attorney General’s Office of Mexico to find out the details of the current charge agai

A lifeline for Haiti could soon be severed by the US Supreme Court

King Charles III and Queen Camilla visiting 9/11 Memorial and other NYC landmarks as part of US trip

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EU says Meta is failing to keep underage users off Facebook and Instagram

The European Union accused Meta on Wednesday of failing to stop underage users from accessing Facebook and Instagram, in violation of the bloc's tough digital rules that require social media sites to protect minors. The EU's executive branch said Meta Platforms lacked effective measures to prevent children younger than 13 from signing up, and that it was not doing enough to identify and remove children after they had opened accounts. Meta's own minimum age to open an account on Facebook or Instagram is 13. The problem is not just that children are

Melania Trump and Queen Camilla play supporting roles during state visit

As the United States and United Kingdom sought to bolster their “special relationship” on Tuesday in Washington, Queen Camilla and first lady Melania Trump were seen but not heard.Dressed in white ensembles, the women joined their husbands for an official welcome ceremony at the White House, where they walked a red carpet and observed all the pomp and circumstance: a 21-gun cannon salute, the playing of both national anthems, the US Army Old Guard Fife and Drum Corps in tricorn hats, and warm remarks from President Donald Trump.Then, as King Charles III and the president met privately, the