Federal Reserve cuts key rate but signals higher bar for future reductions

WASHINGTON (AP) — The Federal Reserve reduced its key interest rate for the third time in a row Wednesday but signaled that it may leave rates unchanged in the coming months, a move that could attract ire from President Donald Trump, who has demanded steep reductions to borrowing costs. In a set of quarterly economic projections, Fed officials signaled they expect to lower rates just once next year. Wednesday’s cut reduced the rate to about 3.6%, the lowest it has been in nearly three years. Lower rates from the Fed can bring down borrowing costs for mortgages, auto loans, and credit cards over time, though market forces can also affect those rates.

Philanthropist MacKenzie Scott gave $7.1 billion to nonprofits in 2025, a major increase

NEW YORK (AP) — The author and philanthropist MacKenzie Scott revealed $7.1 billion in donations to nonprofits in 2025 Tuesday, marking a significant increase in her annual giving from recent years. Scott acknowledged donating $2.6 billion in 2024 and $2.1 billion in 2023. The gifts this year bring her total giving since 2019 to $26.3 billion. Scott acknowledged the donations in an essay on her website. Scott’s donations have captured the attention of nonprofits and other charitable funders because they come with no strings attached and are often very large compared to the annual budgets of the recipient organizations

A guide to good manners at the retail counter this holiday season

Retail workers are bracing for the holiday shopping season and its stressed-out customers. Most interactions are pleasant, retail industry leaders say. But then there are the shoppers who become demanding and rude. Nick Leighton hosts the etiquette podcast “Were You Raised by Wolves?” He urges shoppers to hold on to their manners. Remember that many retail clerks in November and December are seasonal workers hired to handle the holiday rush. They're not CEOs who can make policy changes. Experts recommend that customers reduce their own stress by planning shopping trips ahead and leaving themselves time. Establishing eye contact with the clerk and smiling can go a long way.

CBS appoints Tony Dokoupil as anchor of its flagship 'CBS Evening News' broadcast

CBS says Tony Dokoupil will take over at the beginning of next year as anchor of its flagship “CBS Evening News” broadcast. He moves from the mornings, where he has been part of the anchor team for “CBS Mornings” since 2019. He represents the first major hire for Bari Weiss, the Free Press editor installed this fall as CBS News editor-in-chief following the network's corporate takeover by Paramount. Dokoupil faces a major challenge competing against the dominant David Muir of ABC's “World News Tonight,” which has nearly double the CBS audience. Dokoupil replaces the pairing of John Dickerson and Maurice DuBois, who both left the network recently.

Canada's top envoy to the US will resign before review of free trade agreement

TORONTO (AP) — Canada’s ambassador to the U.S. for the last six years says she’s resigning next year as the two major trading partners review the free trade agreement. Ambassador Kirsten Hillman said Tuesday it is the right time to put in place someone who will see a review of the free trade agreement through to conclusion. Canada’s free trade deal with the U.S. is up for review in 2026. Canadian Prime Minister Mark Carney says Hillman “prepared the foundations for Canada in the upcoming review" of the agreement.

Companies offer $279 million for Gulf of Mexico drilling rights in first of 30 planned oil sales

WASHINGTON (AP) — Oil companies have offered $279 million for drilling rights in the Gulf of Mexico in the first offshore lease sale in the region since 2023. Wednesday's Department of Interior auction was the first of 30 sales planned for the Gulf under Republican efforts to ramp up U.S. fossil fuel production. The sale came after President Donald Trump’s administration announced plans to allow new drilling off Florida and California for the first time in decades, drawing pushback including from Republicans worried about impacts on tourism. Wednesday’s sale was mandated by the sweeping tax-and-spending bill approved by Republicans over the summer. Thirty companies submitted bids, including industry giants Chevron, Shell and BP.

Wall Street is quiet as it waits for the Federal Reserve's announcement in the afternoon

NEW YORK (AP) — The U.S. stock market remains largely quiet as Wall Street waits to hear from the Federal Reserve in the afternoon. The S&P 500 was mostly unchanged Wednesday and remains near its all-time high. The Dow Jones Industrial Average added 198 points, and the Nasdaq composite fell 0.3%. Treasury yields eased a bit as the countdown ticks toward the Fed’s announcement. The widespread expectation is that the Fed will cut its main interest rate for a third time this year to bolster the job market. But traders are bracing for Fed officials to imply fewer cuts to rates in 2026 than this year.

Foreigners allowed to travel to the US without a visa could soon face new social media screening

WASHINGTON (AP) — Travelers who are now able to come to the United States without a visa might soon need to provide social media, email, and family history details to the Department of Homeland Security. The Trump administration has increased monitoring of international travelers. And now, Customs and Border Protection is proposing collecting five years of social media data from travelers from about roughly 40 mostly European and Asian countries who can now come to the U.S. for tourism or business for three months without visas. The public has 60 days to comment on these proposed changes.

Southeast Asia embraces offshore wind power, as Trump bashes renewable energy

HANOI, Vietnam (AP) — Southeast Asia is embracing the embattled offshore wind industry as it reels from U.S. President Donald Trump’s rejection of renewable energy. That dramatic shift in U.S. policy has thrown billions of dollars-worth of American offshore wind projects into turmoil. Industry experts say interest and investment is pivoting to the untapped potential for wind power in Southeast Asia. Momentum is building in the Philippines and Vietnam with first-time project auctions and new power development plans. Analysts say both countries may offer strategies for other developing nations wanting to build their energy independence and meet goals for countering climate change.

USA Today editor in chief out after a year in job

USA Today's editor in chief, Caren Bohan, is out of the job she's held for a little more than a year. No reason was given for the exit, confirmed by Monica Richardson, senior vice president of USA Today. The newspaper is the flagship of the Gannett chain, the nation's largest. Like most news organizations, it has suffered financially over the past two decades and announced $100 million in cuts this past summer. In a social media statement, Bohan made reference to financial challenges in praising her USA Today colleagues for their work. Bohan has had a long career covering and editing political stories for USA Today and the Reuters news service.