The losses were driven in part by interest rate hikes to curb inflation and the war in Ukraine.
The losses were driven in part by interest rate hikes to curb inflation and the war in Ukraine.
U.S. Navy vessels on Monday swarmed a widespread debris field with divers and cranes to retrieve pieces of the suspected Chinese surveillance balloon shot down by a U.S. fighter aircraft off the coast of South Carolina on Saturday afternoon. A senior government said the FBI is expected to take custody of any recovered components of the balloon’s payload and to ship it to its laboratory in Quantico, Virginia. The balloon had been traveling across the continental U.S. since at least Tuesday with the White House facing mounting questions and political blowback as to why the balloon was allowed to cross the country in the first place, especially as the U.S. faces tensions with China.
Previous Chinese surveillance balloon incidents that occurred during the Trump administration and early under the Biden administration were not spotted by NORAD at the time, Air Force Gen. Glen VanHerck, commander of the North American Aerospace Defense Command and U.S. Northern Command, told reporters Monday. VanHerck said that U.S. intelligence made NORAD aware of the threat posed by the surveillance balloons after the fact through "additional means of collection and made us aware of those balloons that were previously approaching North America or transit in North America."
As U.S. intelligence agencies continue to investigate the situation around what the Department of Defense is calling a spy balloon from China, there are still several questions about how this aircraft was able to move across the globe and what its purpose was, according to government officials and intelligence experts. "What's really concerning here is just the arrogance of the Chinese [government] to be able to say, we're going to fly through your sovereign territory and you know that they'd be screaming bloody murder if we'd done that to them," Col. Stephen Ganyard, an ABC News contributor and former State Department official, told "Start Here" Monday. Authorities are working to recover what's left of the balloon from the waters off South Carolina after fighter jets shot it down on Saturday and Chinese government officials have criticized the U.S. for striking down the aircraft that they claim was a private weather balloon.
Tim McGraw showed his love for fellow country superstar Shania Twain recently by covering one of her biggest hits. McGraw, 55, took to Instagram on Friday to share a video of himself performing an acoustic rendition of Twain's '90s classic "You're Still the One" off the Canadian singer's 1997 mega-hit album "Come on Over." Twain, 57, saw the cover and approved.
Nearly 150 New York City police officers violated department rules during 2020 protests over the death of George Floyd, according to a new report issued Monday by the Civilian Complaint Review Board. Most of the violations involved excessive force, including improper use of batons and pepper spray. The report said there were hundreds more allegations the CCRB could not investigate because officers wore bands over their badge numbers or refused to be interviewed remotely.
New York City workers will no longer need to be fully vaccinated against COVID-19 to be employed by the city, Mayor Eric Adams announced Monday. The mayor said the vaccine mandate for city employees will end Friday, nearly 15 months after his predecessor, Bill de Blasio, implemented the policy, during a vote by the city's Department of Health. Adams said 96% of the city workforce has received both shots so the mandate for current and prospective employees served its purpose.
A Florida man and a Maryland woman have been arrested on federal charges of plotting to attack multiple energy substation with the goal of destroying Baltimore, the U.S. Department of Justice announced Monday. The suspects, Sarah Clendaniel of Catonsville, Maryland, and Brandon Russell of Orlando, Florida, were allegedly fueled by a racist extremist ideology as they "conspired to inflict maximum harm" on the power grid with the aim to "completely destroy" Baltimore, U.S. Attorney Erek Barron and a top FBI official said at a Monday morning press conference. Russell is quoted in court documents saying that attacking power transformers is "the greatest thing somebody can do."
Officials are making an urgent call for evacuations as they plan to burn off the chemicals from a derailed Norfolk Southern train in East Palestine, Ohio, in order to avoid a major explosion. Residents in a 1-mile by 2-mile area surrounding East Palestine -- which includes parts of Ohio and Pennsylvania -- must evacuate immediately, Ohio Gov. Mike DeWine said. "The vinyl chloride contents of five rail cars are currently unstable and could potentially explode, causing deadly disbursement of shrapnel and toxic fumes," the governor's office said in a statement.
AMC Theatres announced a new ticket pricing initiative Monday that has customers paying based on where their seat is located. The initiative, called Sightline at AMC, is described by the company in a press release as a way for moviegoers to "now have the option to pay less, or more, for a movie ticket based on their seat selection." There are three tiers of seats for customers to choose from: Standard Sightline, the most common in auditoriums and the traditional cost of a ticket; Value Sightline, seats in the front row of the auditorium as well as select ADA seats which cost less than Standard Sightline seats; and Preferred Sightline, seats typically in the middle of the auditorium and priced more than Standard Sightline seats.
New York Rep. George Santos, who continues to claim his mother was in downtown Manhattan on 9/11 despite immigration documents indicating she wasn't even in the United States, has invited a former ground zero volunteer firefighter to President Joe Biden's State of the Union address on Tuesday. According to a Monday news release from Santos' office, his guest, Michael Weinstock, joined first responders in New York City on the morning of Sept. 11, 2001, and was later diagnosed with neuropathy, a nerve disorder. Santos took to the House floor on Monday to advocate for expanded health coverage for people who suffer from 9/11-related illnesses.
FTX's new chief executive told a bankruptcy court Monday there is "a danger" to authorizing an independent investigation of the crypto exchange's collapse. John Ray said he had no use for prior court-supervised investigations into other companies he steered through bankruptcy. "Neither in Enron nor in Residential Capital did I make use of that report," Ray testified during a hearing before U.S. Bankruptcy Judge John Dorsey in Delaware.
It may feel like spring in Texas, but some of the state's most populated regions are still reeling from last week's freezing temperatures. More than 350,000 customers were without power in Texas on Friday due to the massive ice storm that brought freezing rain and sleet to much of the South, which weighed down power lines and trees. The destruction caused by the inclement weather prompted Texas.
Treasury Secretary Janet Yellen rejected recession fears in an interview with "Good Morning America" on Monday, saying the economy remains "strong and resilient." A blockbuster jobs report last week showed that the economy added 517,000 jobs in January, dropping the unemployment rate to a near-historic low. "You don't have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years," Yellen said.
Beauty products that are good for our skin and the planet? Sephora categorizes certain brands and products as “Clean + Planet Positive,” meaning that the brands focus on “climate commitments, sustainable sourcing, responsible packaging, and environmental giving,” Sephora explains on their website. Brands with the green and blue tag include Youth To The People, a “pro-grade vegan brand all about conscious sourcing, climate justice, and post-consumer and recyclable materials,” Sephora notes, and Tata Harper, a “high-tech, natural brand that supports Trees for the Future and uses eco-conscious materials, like 100% recyclable cartons.”
A landmark trial of 47 Hong Kong democracy advocates charged under a national security law began on Monday. The case -- at the core of China's crackdown in Hong Kong -- comes just as the city launches a massive campaign to lure tourists back after the pandemic. The defendants include activist Joshua Wong, as well as former lawmaker Claudia Mo and legal scholar Benny Tai.
Americans expressed scant confidence in President Joe Biden and his party heading into the 2023 State of the Union address. Few give him credit for a range of accomplishments he may try to claim in tomorrow's address, from infrastructure to prescription drug prices. The public takes Biden's side in the debt ceiling debate, with broad support for handling debt payments and federal spending as separate issues, along with extensive worry about the impacts of a default.
More than 3,700 people are dead after a 7.8 magnitude earthquake rocked southeastern Turkey and northwestern Syria early Monday, according to officials. The pre-dawn quake was centered in the town of Pazarcik in Turkey's southeastern Kahramanmaras province and was followed by several powerful aftershocks. Thousands of buildings were toppled on both sides of the border, and the death toll was expected to rise as rescue workers searched for survivors in the massive piles of rubble.
At least 24 people are dead as dozens of wildfires rage in Chile amid a scorching heat wave, Chilean authorities confirmed to ABC News. The fatalities included two firefighters, authorities said. Approximately 1,000 people have also been injured, with 26 in life-threatening condition, and 1,475 people were evacuated and staying in shelters, authorities said.
Two Missouri children were found inside a supermarket in Florida nearly a year after they were abducted, according to law enforcement officials. Brooke Gilley and Adrian Gilley were found on Wednesday at a Florida Winn-Dixie with their non-custodial mother, Kristi Nicole Gilley, the High Springs Police Department said on Thursday.
Viola Davis has officially joined the elite group of EGOT winners. The beloved actress achieved this impressive feat by taking home the Grammy for best audio book, narration & storytelling recording for her 2022 memoir, "Finding Me," at the 2023 Grammys. In her acceptance speech at the 65th Grammy Awards Premiere Ceremony, which was held at the Microsoft Theater in Los Angeles, Davis said she wrote her memoir "to honor the 6-year-old Viola."