Dollar dominance faces China test

IANS | May 8, 2026 7:37 AM

Washington, May 8 (IANS) A bipartisan group of US senators has reintroduced a resolution backing the US dollar’s status as the world’s reserve currency, warning that China is accelerating efforts to build an alternative global financial system centred around the yuan.

US Senate resolution names China top threat

IANS | May 8, 2026 7:19 AM

Washington, May 8 (IANS) A bipartisan group of US senators has introduced a resolution describing China as the “foremost rival and strategic competitor” of the United States and calling for deeper engagement with India and stronger Indo-Pacific alliances to counter Beijing.

US Congress moves to ban prediction bets

IANS | May 8, 2026 6:48 AM

Washington, May 8 (IANS) Lawmakers in the US House of Representatives have move a legislation to ban members of Congress and their staff from trading on prediction markets. It comes days after the Senate unanimously adopted similar restrictions amid growing scrutiny over potential insider trading and ethics concerns.

US court strikes down Trump's tariff move

IANS | May 8, 2026 6:36 AM

Washington, May 8 (IANS) A US federal trade court struck down President Donald Trump’s latest global tariff move, ruling that the administration exceeded its authority under a 1974 trade law while trying to impose a 10 per cent import surcharge on goods entering the United States.

US Congress urges Trump to press Xi on release of jailed Hong Kong activist Jimmy Lai

IANS | May 8, 2026 6:33 AM

Washington, May 8 (IANS) More than 100 bipartisan members of the US Congress have urged President Donald Trump to press Chinese President Xi Jinping for the release of jailed Hong Kong media tycoon and pro-democracy activist Jimmy Lai during their upcoming meeting, warning that the 78-year-old’s health is rapidly deteriorating.

US bipartisan bill targets Chinese farmland purchases near sensitive sites

IANS | May 8, 2026 6:26 AM

Washington, May 8 (IANS) A bipartisan group of US lawmakers moved to tighten restrictions on Chinese and other foreign adversary purchases of American farmland and property near sensitive military and infrastructure sites, reflecting growing concerns in Washington over national security and food security.

Brazilian President Lula urges Trump to revive Iran dialogue

IANS | May 8, 2026 6:21 AM

Washington, May 8 (IANS) Brazilian President Luiz Inacio Lula da Silva said that he urged US President Donald Trump to pursue dialogue with Iran and handed him a copy of a 2010 nuclear agreement brokered by Brazil and Turkey, as the two leaders concluded a closed-door White House meeting focused on trade, tariffs and global conflicts.

Russia declares a ceasefire from May 8 to May 10

IANS | May 7, 2026 11:31 PM

Moscow, May 7 (IANS) The Russian Ministry of Defence announced on Thursday that Russia declares a ceasefire from midnight on May 8 until May 10 in the ongoing conflict with Ukraine, reported local media.