Author: Press Room

The Memphis Grizzlies were kneeling and praying for their teammate Jaylen Wells, who needed to be stretchered off the court on Tuesday after a hard foul during a dunk had him fall face first onto the hardwood. Wells was going for a transition dunk when Charlotte Hornets guard KJ Simpson ran underneath his legs on an attempt to stop the easy bucket. With Wells already in the air, Simpson’s actions proved costly as he swept Wells’ legs, causing him to flip in mid-air before falling down hard on his head. Simpson’s actions were clearly not intentional, as he quickly went to check…

MANILA: The full implementation of US tariffs could cut developing Asia’s growth by about a third of a percentage point this year and nearly a full percentage point in 2026, the Asian Development Bank said on Wednesday (Apr 9). In its Asian Development Outlook report, the ADB projected that growth in developing Asia will ease slightly to 4.9 per cent in 2025 – the slowest pace since 2022 – and slow further to 4.7 per cent in 2026, from 5.0 per cent in 2024.  The forecasts were finalised before the US unveiled sweeping new import tariffs last week,  the ADB…

In a coordinated effort to shore up investor confidence, top Chinese brokerages have pledged to help stabilize domestic share prices, the Shanghai bourse announced. This pledge comes as scores of listed companies unveiled plans to buy back their own stock, a response to the escalating trade war that has sent shockwaves through the local market.The Shanghai Stock Exchange (SSE) revealed late on Tuesday that it convened a meeting with 10 leading brokerages to emphasize the critical importance of stabilizing markets in the face of external shocks.The SSE stated that participating firms, including Citic Securities, Orient Securities, and Industrial Securities, expressed…

Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldDonald Trump has pushed the world into a full-blown trade war, defying market turmoil as sweeping tariffs against dozens of US trading partners came into effect.With no last-minute reprieve from the White House, the president’s so-called reciprocal tariffs came into force at midnight in Washington on Wednesday. They include a 104 per cent levy on China that will slash trade between the world’s two largest economies.The US tariffs mark a profound reversal to decades of liberalisation in the world economy…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The top investor at Australia’s largest superannuation fund says the US will continue to dominate its new investments despite market chaos caused by tariffs, in a vote of confidence from one of the most active foreign investors in the world’s largest economy. Mark Delaney, chief investment officer at AustralianSuper, which manages A$367bn ($223bn) of assets, said that while tariff announcements were a “significant volatility event”, the US continued to look like the most attractive investment region on a long-term basis. More than half…

Here is where things stand on Wednesday, 9 April: Fighting The Ministry of Defence in Moscow said its units intercepted and destroyed 23 Ukrainian drones overnight on the border in Russia’s Kursk and Belgorod regions. The ministry also said Russian forces mounted a shock attack and recaptured the village of Guyevo in Kursk, which had been held by Ukrainian troops since August 2024. Moscow said it carried out air and artillery strikes on Ukrainian troops inside Russian territory, pushing Kyiv’s soldiers back towards the border. Ukrainian forces attacked two Russian energy facilities in the past 24 hours despite a mutually…

Several top Internal Revenue Service officials, including the acting commissioner, are preparing to quit after the Trump administration pushed the agency to use its protected tax records to help homeland security officials deport immigrants, according to people familiar with the matter.The agreement between the I.R.S. and Immigration and Customs Enforcement, disclosed in a court filing on Monday, is a fundamental departure from decades of practice at the tax collector, which has sought to keep information submitted by undocumented immigrants confidential. Under the terms of the deal, a partially redacted version of which was submitted in the case, ICE officials can…

The Trump administration has frozen more than $1 billion in funding for Cornell and $790 million for Northwestern amid civil rights investigations into both schools, two U.S. officials said.The funding pause involves mostly grants from and contracts with the Departments of Agriculture, Defense, Education and Health and Human Services, according to the officials, who spoke on the condition of anonymity to discuss the unannounced decision.The moves are the latest and largest in a rapidly escalating campaign against elite American universities that has resulted in billions in federal funds being suspended or put under review in just over a month. Other…

Many Canadians have likely noticed that the cost to fill up their vehicles has come down over recent weeks. At the same time, Reuters reported that CEOs of Canadian oil and gas producers said on Tuesday they are seeking to avoid making abrupt decisions as global oil prices hover around four-year lows and recession fears grow.There are a few possible reasons for these price declines, some specifically for Canadians, along with factors affecting drivers and consumers globally.The federal Liberals did away with the consumer carbon price shortly before calling the federal election while keeping the industrial carbon price for large emitters in place.April 1 was the…

William Finn, a witty, cerebral and psychologically perceptive musical theater writer who won two Tony Awards for “Falsettos” and had an enduringly popular hit with “The 25th Annual Putnam County Spelling Bee,” died on Monday in Bennington, Vt. He was 73.His longtime partner, Arthur Salvadore, said the cause of death, in a hospital, was pulmonary fibrosis, following years in which Mr. Finn had contended with neurological issues. He had homes in Williamstown, Mass., and on the Upper West Side of Manhattan.Mr. Finn was widely admired for his clever, complex lyrics and for the poignant honesty with which he explored character.…