Euro Economies Doubling Growth Grabs Investor Attention
Eurozone economies led by Ireland and Germany expanded twice as much as previously reported to begin the year, with exports surging in anticipation of US tariffs. Eurostat's upward revision to 0.6% growth caught most economists by surprise and capture a currency union that's so far proving resilient.
For all the Sturm und Drang hurled by the Trump administration, Europe's macro-economic picture still shows light on the horizon. Private equity investors have a new-found love for Germany and are prowling for deals. Defense technology stocks are booming as investors pour into meeting EU security requirements. Berlin has awakened from its slumber and is newly focused on resolving a deadlock with France over how to deepen the bloc's capital markets.
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25 minutes ago
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Forget chocolate! The world now envies Switzerland's zero interest rates
The world envies Swiss chocolate, army knives, and now . . . interest rates? Housing market weakness triggers Lennar to offer biggest incentives since 2009 The Trump administration is trying to bring back asbestos 3 tiny behaviors that make you the calmest person in the room Swiss National Bank, Switzerland's central bank, moved interest rates to zero this week, a reduction of 25 basis points, and a notable detraction from other central banks around the world, such as the Federal Reserve in the U.S. and the Bank of England in the U.K. In a statement, the Swiss National Bank said that the move was made in relation to declining inflation worries—and that it's expecting the economies to buckle under the volatility created, in part, due to the Trump administration's trade policies. 'With today's easing of monetary policy, the SNB is countering the lower inflationary pressure. The SNB will continue to monitor the situation closely and adjust its monetary policy if necessary, to ensure that inflation remains within the range consistent with price stability over the medium term,' the statement read. 'The global economic outlook for the coming quarters has deteriorated due to the increase in trade tensions. In its baseline scenario, the SNB anticipates that growth in the global economy will weaken over the coming quarters. Inflation in the U.S. is likely to rise over the coming quarters. In Europe, by contrast, a further decrease in inflationary pressure is to be expected.' Meanwhile, in the U.S., the Federal Reserve's latest meeting wrapped up this week with no change in interest rates, despite pressure from the White House and others to lower them. Fed Chair Jerome Powell and other Fed governors have been reluctant to do so, as inflation data still has not gotten close enough to its 2% target, and employment data has remained positive. Across the Atlantic, however, another European country, Norway, also cut rates this week. And some experts think that the Swiss could go even further, instituting negative interest rates at some point this year. 'There are risks that the SNB will go further in the future if inflationary pressures don't start to increase, and the lowest the policy rate could go is -0.75%, the rate it reached in the 2010s,' Swiss National Bank's Chairman Martin Schlegel told CNBC on Thursday. 'But what I can say is that going negative, we would not take this decision lightly.' This post originally appeared at to get the Fast Company newsletter:
Yahoo
34 minutes ago
- Yahoo
How Trump has targeted Harvard's international students — and what the latest court ruling means
President Donald Trump and his administration have tried several tactics to block Harvard University's enrollment of international students, part of the White House's effort to secure policy changes at the private, Ivy League college. Targeting foreign students has become the administration's cornerstone effort to crack down on the nation's oldest and wealthiest college. The block on international enrollment, which accounts for a quarter of Harvard's students and much of its global allure, strikes at the core of Harvard's identity. Courts have stopped some of the government's actions, at least for now — but not all. In the latest court order, a federal judge on Friday put one of those efforts on hold until a lawsuit is resolved. But the fate of Harvard's international students — and its broader standoff with the Trump administration — remain in limbo. Here are all the ways the Trump administration has moved to block Harvard's foreign enrollment — and where each effort stands. Homeland Security tries to revoke Harvard's certification to host foreign students In May, the Trump administration tried to ban foreign students at Harvard, citing the Department of Homeland Security's authority to oversee which colleges are part of the Student Exchange and Visitor Program. The program allows colleges to issue documents that foreign students need to study in the United States. Harvard filed a lawsuit, arguing the administration violated the government's own regulations for withdrawing a school's certification. Within hours, U.S. District Judge Allison Burroughs in Boston put the administration's ban on hold temporarily — an order that had an expiration date. On Friday, she issued a preliminary injunction, blocking Homeland Security's move until the case is decided. That could take months or longer. The government can and does remove colleges from the Student Exchange and Visitor Program, making them ineligible to host foreign students on their campus. However, it's usually for administrative reasons outlined in law, such as failing to maintain accreditation, lacking proper facilities for classes, failing to employ qualified professional personnel — even failing to 'operate as a bona fide institution of learning.' Other colleges are removed when they close. Notably, Burroughs' order Friday said the federal government still has authority to review Harvard's ability to host international students through normal processes outlined in law. After Burroughs' emergency block in May, DHS issued a more typical 'Notice of Intent to Withdraw' Harvard's participation in the international student visa program. 'Today's order does not affect the DHS's ongoing administrative review,' Harvard said Friday in a message to its international students. 'Harvard is fully committed to compliance with the applicable F-1 (student visa) regulations and strongly opposes any effort to withdraw the University's certification.' Trump has sought to ban U.S. entry for incoming Harvard students Earlier this month, Trump himself moved to block entry to the United States for incoming Harvard students, issuing a proclamation that invoked a different legal authority. Harvard filed a court challenge attacking Trump's legal justification for the action — a federal law allowing him to block a 'class of aliens' deemed detrimental to the nation's interests. Targeting only those who are coming to the U.S. to study at Harvard doesn't qualify as a 'class of aliens,' Harvard said in its filing. Harvard's lawyers asked the court to block the action. Burroughs agreed to pause the entry ban temporarily, without giving an expiration date. She has not yet ruled on Harvard's request for another preliminary injunction, which would pause the ban until the court case is decided. 'We expect the judge to issue a more enduring decision in the coming days,' Harvard told international students Friday. At the center of Trump's pressure campaign against Harvard are his assertions that the school has tolerated anti-Jewish harassment, especially during pro-Palestinian protests. In seeking to keep Harvard students from coming to the U.S., he said Harvard is not a suitable destination. Harvard President Alan Garber has said the university has made changes to combat antisemitism and will not submit to the administration's demands for further changes. The administration has stepped up scrutiny of Harvard scholars' and students' visas In late May, Secretary of State Marco Rubio directed U.S. embassies and consulates to start reviewing social media accounts of visa applicants who plan to attend, work at or visit Harvard University for any signs of antisemitism. On Wednesday, the State Department said it was launching new vetting of social media accounts for foreigners applying for student visas, and not just those seeking to attend Harvard. Consular officers will be on the lookout for posts and messages that could be deemed hostile to the United States, its government, culture, institutions or founding principles, the department said, telling visa applicants to set their social media accounts to 'public.' In reopening the visa process, the State Department also told consulates to prioritize students hoping to enroll at colleges where foreigners make up less than 15% of the student body, a U.S. official familiar with the matter said. The official spoke on condition of anonymity to detail information that has not been made public. Foreign students make up more than 15% of the total student body at almost 200 U.S. universities — including Harvard and the other Ivy League schools, according to an Associated Press analysis of federal education data from 2023. Most are private universities, including all eight Ivy League schools. Some Harvard students are also caught up in the government's recent ban against travel to the U.S. by citizens of 12 nations, mostly in Africa and the Middle East. The Trump administration last weekend called for 36 additional countries to commit to improving vetting of travelers or face a ban on their citizens visiting the United States. International students make up half the students at some Harvard programs Harvard sponsors more than 7,000 people on a combination of F-1 and J-1 visas, which are issued to students and to foreigners visiting the U.S. on exchange programs such as fellowships. Across all the schools that make up the university, about 26% of the student body is from outside the U.S. But some schools and programs, by nature of their subject matter, have significantly more international students. At the Harvard Kennedy School, which covers public policy and public administration, 49% of students are on F-1 visas. In the business school, one-third of students come from abroad. And within the law school, 94% of the students in the master's program in comparative law are international students. The administration has imposed a range of sanctions on Harvard since it rejected the government's demands for policy reforms related to campus protests, admissions, hiring and more. Conservatives say the demands are merited, decrying Harvard as a hotbed of liberalism and antisemitism. Harvard says the administration is illegally retaliating against the university. ____ The Associated Press' education coverage receives financial support from multiple private foundations. The AP is solely responsible for all content. Find the AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
Yahoo
38 minutes ago
- Yahoo
US updates: Trump admin slashes jobs at Voice of America
US President Donald Trump's administration lays off 639 employees at Voice of America and its parent organization, the US Agency for Global Media Trump says US doesn't need to meet 5% defense spending target ahead of NATO summit Columbia University activist Mahmoud Khalil released after more than 3 months in custody Below is a roundup the latest developments in the US on Saturday June 21, 2025: Mahmoud Khalil, a Palestinian activist who played a role in the Columbia University protests against Israel's war in Gaza, has been released from federal immigration jail in Louisiana. He spent 104 days in US custody. "Justice prevailed, but it's very long overdue," he said outside the facility. "This shouldn't have taken three months." Khalil was born in Syria and holds Algerian citizenship. He is not a US national but is a permanent resident. US District Judge Michael Farbiarz ordered Khalil's release earlier on Friday. Farbiarz said the US government made no attempt to rebut evidence from Khalil's attorneys that he is not a flight risk nor a danger to the public. The Trump administration has targeted Khalil, saying he played a role in antisemitic protests. Khalil's legal team have argued that he is not antisemtitic or anti-US. The Trump administration had detained Khalil on foreign policy grounds, but Fabiarz had earlier ruled that the foreign policy reasons did not justify his detention. Khalil's green card will be returned to him, and he is permitted to limited travel within the US. At the same time, the Trump administration is still attempting to deport Khalil based on allegations that he lied to obtain his green card. This means that Khalil's legal battle to stay in the US is still not over. Khalil is married to US citizen Noor Abdalla, who gave birth to their son while he was in immigration detention. Abdalla celebrated Khalil's release in a statement: "We know this ruling does not begin to address the injustices the Trump administration has brought upon our family, and so many others." "But today we are celebrating Mahmoud coming back to New York to be reunited with our little family." The latest cuts to VOA were met with fierce criticism from employees of the outlet and congressional Democrats. VOA employees Jessica Jerreat, Kate Neeper and Patsy Widakuswara are involved in a legal battle against Trump's cuts to the news outlet and US-funded public media. Jerreat, Neeper and Widakuswara were among those laid off on Friday. "It spells the death of 83 years of independent journalism that upholds US ideals of democracy and freedom around the world," Jerreat, Neeper and Widakuswara said in a statement in response to the latest cuts. In a post on X, Democratic Senator Jeanne Shaheen of New Hampshire strongly condemned the cuts. Jeanne Shaheen is the ranking member on the Senate Foreign Relations Committee. Shaheen said the "decimation of US broadcasting leaves authoritarian propaganda unchecked by US backed independent media and is a perversion of hte law and congressional intent." "It is a dark day for the truth," Shaheen said. The Trump administration on Friday laid off 639 employees at US public broadcaster Voice of America (VoA) and its parent organization, the United States Agency for Global Media (USAGM). VoA was established in World War II and aims much of its programming at countries under authoritarian regimes such as North Korea and Iran. Kari Lake, a former television anchor and Trump ally who serves as the senior advisor to the USAGM, said the cuts are part of a "long overdue effort to dismantle a bloated, unaccountable bureaucracy." Some 1,400 people have been fired at VoA and USAGM since March, Lake said. Many VOA staff have been on administrative leave since March 15 amid legal proceedings. Trump has attacked publicly-funded news outlets such as VoA and National Public Radio (NPR), claiming without concrete evidence that their programming is biased toward conservatives. Welcome to DW's coverage of current affairs in the US and the second term of President Donald Trump. In addition to the latest news on the US, this blog will also bring you multimedia content, analysis and on-the-ground reporting from DW correspondents. Stay tuned for more!
