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Thousands in St. Peter’s Square cheered the election of Robert Prevost from the US as the new pope. He will be known as Pope Leo XIV. Al Jazeera’s Virginia Pietromarchi was in the square with witnesses who expressed joy at his message of peace and unity.

Israel bombed Yemen’s Sanaa airport and the Hodeidah port within 24 hours, as tensions have been escalating in response to Israel’s war on Gaza. On Sunday, the Houthis launched missiles that landed near Ben Gurion airport in Tel Aviv. What does it mean for Yemenis facing this escalation?

WASHINGTON, May 8 (UPI) — Department of Homeland Security Secretary Kristi Noem defended the Trump administration’s deportations Thursday as Democratic senators accused the president of illegally sending U.S. citizens and legal residents to other countries.

The confrontation over deportations took center stage as Noem testified before the Senate Homeland Security Subcommittee about the Department of Homeland Security’s proposed $175 billion budget.

In a tense back-and-forth with Sen. Chris Murphy, D-Conn., Noem said that Kilmar Abrego Garcia, a Maryland man mistakenly deported to El Salvador in mid-March would “never return.”

Abrego Garcia, an El Salvadoran native, “should have never been in the U.S,” Noem said, calling him a “wife beater.”

Murphy accused Noem and the Trump administration of breaking the law and disregarding the Supreme Court‘s unanimous ruling ordering his return.

Sen. Chris Van Hollen, D-Md., also pressed Noem on whether the administration was facilitating Abrego Garcia’s return.

Though admitting the administration was “complying with all orders,” Noem would not answer yes or no on whether the government was working with El Salvador to bring Abrego Garcia back to the United States.

Van Hollen called her response political rhetoric.

Noem insisted officials have targeted “the worst of the worst” criminals. Democrats said the administration has broken the law with its deportation of a 4-year-old with cancer; students on visas; and the 32 Venezuelans accused of being Tren de Aragua gang members.

Trump has invoked the wartime Alien Enemies Act, a law permitting the removal of people from countries that are “enemies” of the United States. He argued that members of the Tren de Aragua gang constituted an enemy state.

The American Civil Liberties Union has battled in federal court using the Alien Enemies Act in this way.

Some Democratic lawmakers also expressed concern over the method and speed of reducing illegal border crossings and ramping up removals.

“You are routinely violating the rights of immigrants, who may not be citizens, but whether you like it or not, they have constitutional and statutory rights when they reside in the United States,” Murphy said to Noem.

“Your agency acts as if laws don’t matter, as if the election gave you some mandate to violate the Constitution and the laws passed by this Congress.”

Meanwhile, Noem credited the president’s focus on increased enforcement for the drop in illegal border crossings.

Customs and Border Protection agents encountered around 11,000 people attempting to illegally cross the southwest border in March, according to most recent data. That’s down from 189,000 in March 2024.

Republican lawmakers acknowledged their approval of DHS border enforcement.

DHS requested $175 billion to construct more miles of border wall, add Immigration and Customs Enforcement officials and CBP agents, enhance cybersecurity, train local law enforcement and upgrade border technology such as mail package scanners.

Noem told UPI and Medill News Service after the hearing that she expected Congress to approve the requested budget.

“It’s one of the larger agencies with one of the smallest budgets,” Noem said. “We recognize that we’ve now let people into this country that are dangerous, and we not only need to return them back to their homes, but we also have to have the technology to compete in this day and age when so many other countries and bad actors have invested in taking us down.”

Noem is expected to face more questioning during another hearing next Wednesday.

Africa is a continent rich in natural resources with a young population. African nations in theory have the potential to transform their economies. But many of them are facing mountains of debt.

Africa’s external debt climbed to more than $650bn last year.

More than half of African countries are either in debt distress or teetering on the edge. But credit restructuring is painstakingly slow, and many governments end up spending more on servicing their debt than on healthcare or education.

The debt problem has plunged many nations into economic crisis with rising unemployment and poverty.

May 8 (UPI) — A Virginia man has been sentenced spend more than 30 years in prison for a crypto scheme that poured thousands of dollars into the hands of ISIS.

The U.S. Department of Justice announced Thursday that Mohammed Azharuddin Chhipa of Springfield, Va., was convicted of one count of conspiracy to provide material support or resources to a designated foreign terrorist organization, and four counts of providing and attempting to provide material support or resources to a designated foreign terrorist organization.

He received a sentence Wednesday of 364 months behind bars for “his efforts to provide material support to the Islamic State of Iraq and [ISIS].”

Chhipa was found guilty of having sent money to female ISIS members located in Syria, which was partially used to support ISIS fighters and to help female ISIS members escape from prison camps.

Chhipa used social media to raise funds online, then both receive the money electronically or by hand, and then convert the cash into cryptocurrency and send it to Turkey, where it would be further smuggled to ISIS in Syria.

From approximately October of 2019 through October of 2022, Chhipa sent more than $185,000 to ISIS.

“This defendant directly financed ISIS in its efforts to commit vile terrorist atrocities against innocent citizens in America and abroad,” said Attorney General Pam Bondi in a press release Thursday. “This severe sentence illustrates that if you fund terrorism, we will prosecute you and put you behind bars for decades.”

U.S. Attorney Erik S. Siebert for the Eastern District of Virginia said that “Chhipa knowingly and persistently collected and provided a considerable amount of money to fund the violence of an organization bent on forcing their extremist ideology on others.”

May 8 (UPI) — Thousands in Vatican Square cheered as white smoke billowed from the chimney atop the Sistine Chapel, signaling that a new pope has been chosen.

Bells rang out, as well, according to sources. All of this took place after black smoke had come out earlier, indicating that a papel conclave sequestered inside had been unable to elect a new pope.

But in the afternoon sunshine, crowds grew in St. Peter’s Square as people eagerly awaited the traditional proclamation of “Habemus papam” — Latin for “We have a pope” — as bands began to play before the official announcement.

This is a breaking news story; check back for updates.

From earlier coverage:

The Vatican said in a news release that the second ballot of 133 members of the College of Cardinals on the first full day of the conclave, and the third since it got underway late Wednesday afternoon, was “inconclusive.”

Nominees must gain the backing of two-thirds of cardinals with a vote, 89, to be elected as the pontiff, but the first round of voting on Wednesday and a second first thing Thursday all failed to deliver a result.

Around 15,000 people were gathered outside in St. Peter’s Square with their eyes glued to giant screens showing a camera feed of the chimney in anticipation of the emission of white smoke, indicating the world’s 1.4 billion Catholics have a new pope.

The next round of voting is expected to begin at about 4 p.m. local time, after breaking for lunch. If that round also proves inconclusive, a fourth vote will take place this evening.

Three of the past five conclaves reached a decision by the end of day 2, but a record number of cardinals voting could slow the process down.

In past centuries, the process could be very lengthy. Choosing Pope Gregory X took more than a thousand days, beginning in December 1268 and not reaching a decision until Sept. 1, 1271.

Cardinals in the conclave are not permitted to communicate with anyone except fellow conclave members, use their phones or access TV, radio or newspapers, but before they were locked away in the Sistine Chapel four names were circulating as the front-runners to become the 267th pontiff.

They are Vatican Secretary of State Pietro Parolin, Hungary’s Peter Erdo, Jean-Marc Aveline of France and the Latin Patriarch of Jerusalem, Pierbattista Pizzaballa.

Also in the running are Archbishop of Bologna, Matteo Zuppi, Luis Antonio Tagle of the Philippines and Peter Turkson of Ghana and around nine other candidates.

The names of U.S. Cardinals Robert Prevost and Joseph Tobin, Titular Bishop of Rome’s Albano Diocese and the Archbishop of Newark, N.J., respectively, and have been touted as possible candidates to become the first American-born pope.

May 8 (UPI) — Turkey Thursday ordered X to restrict access to the account of jailed political opposition leader and Mayor of Istanbul Ekrem Imamoglu.

X’s Global Government Affairs team said in a statement that it is complying with Turkey’s order to block Imamoglu’s account but will challenge it.

“We strongly disagree with the order and are challenging the order in court. The order was received from the Turkish Information and Communication Technologies Authority. These orders require X to block content in Turkey that is available in the rest of the world,” it said.

A post on Imamoglu’s X account Thursday said it was blocked by a legal demand.

According to the BBC, a lawyer representing X has filed a court challenge to the block order.

Imamoglu’s Republican People’s Party told the BBC that the government of President Recep Tayyip Erdogan‘s is taking another step in a coup attempt.

“Now they won’t even allow him to speak to the public,” said CHP Secretary General Selin Sayek Boke. “It clearly shows the fear of those in power that they will be losing power. It’s a coup attempt against the next ballot box.”

Opinion polls show Imamoglu would win an election if allowed to run in 2028.

X said defying the order to block Imamoglu’s account could lead to Turkey banning X entirely from the country.

“X complied with the court order while we challenge the order in court because we believe keeping the platform accessible in Turkey is vital to supporting freedom of expression and access to information, particularly following natural disasters and other emergencies,” the statement said.

When Imamoglu was taken into custody March 19, he said, “I’m sorry to say, a handful of minds trying to usurp the will of our nation have used my beloved police officers, the security forces of this country, as instruments of evil, and have gathered hundreds of police officers at the door of my home, the home of 16 million Istanbulites.”

Imamoglu was formally arrested on corruption charges and removed from office in March, sparking thousands of people who believe his arrest is politically motivated to protest.

He denies committing crimes and had been urging his supporters to protest.

For people using VPNs Imamoglu’s X account in Turkey is still accessible.

At least 40 pro-Palestinian student protesters were detained at a demonstration inside a library at Columbia University in New York, where activists continue to demand that the college divests from Israel over the war in Gaza.

May 8 (UPI) — Two men were arrested and five teachers had minor assault injuries Thursday at Daisan Elementary School in suburban Tokyo. No students were hurt.

A man in his 40s and another in his 20s described as intruders at the school were arrested.

Metropolitan Police said the two suspects were arrested on suspicion of assault.

According to police the mother of a student spoke with school staff in the morning but talks with the school did not go as she wished, so she called the suspects to the school.

The two men showed up at the school, assaulted staff and broke a window.

The disturbance happened around 11 a.m. local time Thursday.

Police were called when the two men began to act violently and broke a window.

The mother was being questioned by police but was not immediately arrested.

The school located in western metro Tokyo, has 520 students.

May 8 (UPI) — President Donald Trump announced Thursday morning that the United States is set to sign a trade deal with Britian.

“The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come,” Trump said Thursday in a post to his Truth Social account. “Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our first announcement.”

Trump closed the post with a notification that “Many other deals, which are in serious stages of negotiation, to follow.”

The White House is slated to hold a press conference at 10 a.m. EDT Thursday from the Oval Office to officially proclaim the deal, which would be the first trade deal the United States has made since Trump announced a slew of tariffs against most countries around the globe.

British Prime Minister Sir Keir Starmer will also declare the deal from an unannounced location at around the same time Thursday.

Britain was not hit with the higher levies some other countries received when Trump announced his “Liberation Day” tariffs in April but was struck with the minimum global 10% duty. Britain already runs a trade deficit with the United States.

Kyiv, Ukraine – The Kremlin duped the White House into accepting and promoting its view on how the Russia-Ukraine war should end, according to a Ukrainian military analyst.

Russian President Vladimir Putin “imposed his narratives on [his US counterpart Donald] Trump,” Lieutenant General Ihor Romanenko, former deputy head of the General Staff of the Ukrainian Armed Forces, told Al Jazeera.

“Trump repeats them, tries to implement them, frightens and pressures Ukraine that already is in a pretty precarious situation,” he said about the peace talks that seem to have reached an impasse.

But some Western observers disagree.

“In this case, Putin played himself,” Nikolay Mitrokhin, a researcher with Germany’s Bremen University, told Al Jazeera.

“The talks failed because of both sides, but Zelenskyy scored more moral points in this competition, because he proposed a more significant version of a truce, Trump is satisfied with him in general,” Mitrokhin said.

Putin suggested a three-day ceasefire between May 8 and 11 so that Russia could celebrate its victory over Nazi Germany with a military parade on Moscow’s Red Square.

Putin also plans to host Chinese leader Xi Jinping and other helmsmen from former Soviet republics, Eastern Europe and Latin America.

The May 9 festivities are a focal point of the Kremlin’s political calendar as Moscow claims to have “liberated” Europe from Nazism – and accuses some European leaders, as well as Zelenskyy, of “neo-Nazi” leanings.

Zelenskyy retorted to Putin’s proposal by offering a monthlong cessation of hostilities.

Meanwhile, Putin “showed his feathers as a totally non-constructive character capable only of tiny pittances in the negotiation process”, Mitrokhin said.

“The next step would be a rapprochement between the United States and Ukraine, additional arms supplies to Ukraine, and, probably, new, stronger and more shocking sanctions against Russia a la Trump.”

There is, however, room for Trump’s unpredictability if there is a “destiny-changing summit in May, when Trump and Putin will sort it all out,” he added.

Trump’s ‘final offer’

Before his re-election, Trump boasted he would end the Russia-Ukraine war “in 24 hours”.

But more than 100 days into his presidency, even a temporary ceasefire is not on the horizon as Russian missiles and drones keep pummelling Ukrainian cities.

Trump’s peace plan has never been made public, but his “final offer” leaked to the press in late April largely benefits Moscow and leaves Kyiv with no security guarantees from Washington.

The document reportedly included a ban on Ukraine’s membership in NATO, Washington’s “de jure” recognition of annexed Crimea as part of Russia and a “de facto” recognition of Moscow’s occupation of large chunks of four Ukrainian regions.

Russia currently occupies some 20 percent of Ukraine’s territory; Kyiv has liberated seven more percent since 2022.

The “de facto” recognition of the four regions follows Putin’s largest “concession” so far – he agreed not to claim the Kyiv-controlled parts of them.

Trump’s “final offer” also included a ceasefire and a freeze along the current front lines in return for the immediate lifting of all US sanctions slapped on Russia since Crimea’s 2014 annexation.

Kyiv also gets back the Zaporizhzhia nuclear power plant, Europe’s largest, a giant nearby dam that was bled dry by a powerful explosion in 2023, and small Russian-occupied areas in Ukraine’s northeast and south.

A Kyiv-based analyst called the Trump-proposed compromises “disgusting”.

“A compromise between what and what? Between Russia’s desire to kill, rape, loot, seize territories, and our demands that our territories are not taken away and we are not killed? There’s no room for compromise,” Maria Kucherenko, an expert with the Come Back Alive think tank, told Al Jazeera.

“We have already eaten these ceasefires and concessions to Russia with a big spoon,” she said, referring the US-mediated discussions of a ceasefire between Kyiv and Russia-backed separatists in southeastern Ukraine during Trump’s first presidency.

“The thing is not what Zelenskyy says or doesn’t say. The thing is that Russia will only do exactly what it is allowed to do. And turning a blind eye to its further acts of aggression will not do,” she said.

The White House threatened to walk away if Kyiv and Moscow didn’t agree to the “final offer.”

Russia ‘getting ready for an active summer offence’

To a Ukrainian serviceman recovering from surgery, the aim of Moscow’s delay tactic is crystal clear.

“Moscow postponed talks until the fall and is getting ready for an active summer offence, trying to probe weak spots in our defence,” Kirill Sazonov, a political analyst-turned serviceman fighting in the Donetsk region, wrote on Telegram on Monday.

“Currently, Putin doesn’t want peace and that’s why the talks make no sense. The White House can get out of them – and nothing will change at all,” he wrote.

After signing the long-awaited minerals deal last week, Washington distanced itself from the talks.

“It’s going to be up to them to come to an agreement and stop this brutal, brutal conflict,” Vice President J D Vance told Fox News on Thursday.

The change of rhetoric means that Trump considers the minerals deal a diplomatic victory ahead of his summit with Chinese President Xi Jinping, according to a Kyiv-based analyst.

Moscow expects only a “full or partial capitulation” of Ukraine, but as Kyiv keeps fighting, for Trump, “it’s irrational to play a middleman,” Igar Tyshkevych told Al Jazeera.

Meanwhile, the Kremlin’s backers remain puzzled about Trump’s chameleonic mood swings.

“Is the Trump temptation over? Are we recovering?” Vladimir Solovyov, a popular television host who once threatened to turn the West into “radioactive ashes”, asked rhetorically during his Sunday show.

Clad in a quasi-military overcoat and speaking in an ominous voice, he uttered yet another warning to the West: “We don’t need your love, we need your fear.”

“We lived to witness a merry time, when only our part of the world boasts psychological health,” he concluded.

May 8 (UPI) — In a rare public appearance at a time when the courts have come under attack, Supreme Court Chief Justice John Roberts reiterated his support for judicial independence and his rejection of calls to impeach judges.

Roberts, a conservative appointee of President George W. Bush, made the comments Wednesday in Buffalo, N.Y., during a talk held in celebration of the 125th anniversary of the U.S. District Court for the Western District of New York.

With District Judge Lawrence Vilardo of the court being honored, Roberts discussed his career and spoke of his ascent to the highest court in the country. Though President Donald Trump was not mentioned by name, his presence loomed over the conversation, which was held against the backdrop of judges who have ruled against the Trump administration being attacked and calls for their resignation coming from the president, members of his party and his supporters.

oOn Wednesday, Roberts championed the independence of the judicial branch from the legislative and executive branches of the U.S. government as “the only real political science innovation of our Constitution.”

“In our Constitution, the judiciary is a co-equal branch of government separate from the others, with the authority to interpret the Constitution as law and strike down, obviously, acts of Congress or acts of the president. That innovation doesn’t work if the judiciary is not independent,” he said.

“Its job is to decide cases, but in the course of that, check the excesses of Congress or the executive, and that does require a degree of independence.”

In response to a question from Vilardo concerning the calls for impeachment of judges, Roberts highlighted the statement he issued in mid-March that decried such calls as an inappropriate response to decisions one disagrees with.

“Impeachment is not how you register disagreement with decisions,” the chief justice reiterated Wednesday. “That’s what we’re there for.”

The Trump administration has repeatedly attacked the judicial system, attracting condemnation from legal and other organizations since early in its second term.

Those criticisms have only increased amid growing fears about the potential that the White House will defy court orders it disagrees with, ignore the due process rights afforded immigrants by the Constitution and threaten — and potentially arrest — judges who stand against its policies.

Roberts issued his rare public statement in mid-March in response to Trump calling for the impeachment of a judge who blocked his attempt to deport hundreds of Venezuelans.

“For more than two centuries, it has been established that impeachment is not an appropriate response to disagreement concerning a judicial decision. The normal appellate review process exists for that purpose,” Roberts said.

“We do not have Obama judges or Trump judges, Bush judges or Clinton judges. What. we have is an extraordinary group of dedicated judges doing their level best to do equal right to those appearing before them.”

Trump had lambasted Chief Judge James Boasberg of the U.S. District Court for the District of Columbia hours earlier, calling him a “Radical Left Lunatic,” “crooked,” “a troublemaker,” and an “agitator” who “should be impeached!!!”

On Monday, a group of more than 140 retired state and federal judges sent Attorney General Pam Bondi a letter condemning the Trump administration’s attack on the judiciary, including the April arrest of a Milwaukee County Circuit Court judge in her courthouse on allegations of aiding a migrant defendant in evading federal immigration arrest.

They called Hannah Dugan’s arrest the latest action by the Trump administration “to intimidate and threaten the judiciary” following rulings by judges appointed by both parties holding it “accountable for its countless violations of the Constitution.”

“The American people understand that the Constitution of the United States has made the nation’s judicial officers the guardians of the rule of law in our country, not the president. The nation’s judiciary does not operate at the President’s instruction or at his discretion,” they said.

“We unequivocally reject your and the Trump Administration’s assault on the judiciary, the Rule of Law and those who administer it, including Judge Dugan. This does not make us ‘deranged,'” the retired judges continued, quoting an often-uttered insult by Trump directed at members of the judiciary who rule against him.

“It’s what makes us Americans.”

May 8 (UPI) — One student is dead and two others were hospitalized following stabbing outside a southern California high school, according to authorities who are hunting for two suspects.

Police were notified of the stabbing in front of Santa Ana High School at about 3:25 p.m. PDT Wednesday, the Santa Ana Police Department said in a statement.

The victims have been identified has teenage boys. The deceased victim was 14 years old, authorities said.

All three were transported to local hospitals, two in stable condition. A third victim, who was transported to a hospital in critical condition, succumbed to his injuries not long afer, authorities said.

“The wounds on the victims were stab wounds, so we believe that the weapon used was a knife,” Santa Ana police officer Natalie Garcia told reporters during a press conference.

She said police are searching for two suspects who fled the scene on foot. She described them as Hispanic males who may also be students at the school or at another nearby institution.

School police told authorities that the stabbing could be gang related, she added.

The Santa Ana Unified School District said the stabbing occurred shortly after the dismissal of students.

“Our thoughts are with the family of the student who passed and with all those impacted by this senseless act of violence,” it said in a statement.

On Thursday, there will be an increased police presence at the school and crisis counselors will be made available for area students who may require such services.

“We are committed to providing a safe, caring and supportive environment for all students and staff,” Santa Ana USD said.

The crushing loss drops Cristiano Ronaldo’s Al-Nassr down to fourth in the Saudi league ladder, 11 points behind Al-Ittihad in the title race.

Houssem Aouar scored a last-minute goal to help Al-Ittihad complete a comeback and secure a 3-2 win over Al-Nassr, taking them a step closer to clinching the Saudi Pro League title.

Sadio Mane opened the scoring on Wednesday for the home side after three minutes with a low strike.

The Senegal international then assisted Ayman Yahya to make it 2-0 for Al-Nassr in the 37th minute. The goal stood following a VAR review, even though the ball had touched Mane’s hand in the build-up.

Al-Ittihad were the better side after the interval and Karim Benzema reduced the deficit with a header in the 49th minute.

Laurent Blanc’s side equalised after a counterattack, finished off by N’Golo Kante, who slotted the ball into Al-Nassr’s net.

Algeria international Aouar scored the game-winner for Al-Ittihad in added time from close range following a cross by Moussa Diaby.

Al-Ittihad, who can clinch the domestic double after reaching the King Cup final, extended their lead to 71 points, six ahead of Al-Hilal, with four games remaining.

For Cristiano Ronaldo’s Al-Nassr, now fourth with 60 points, the loss was a setback to their hopes of reaching the AFC Champions League elite next season, with only two teams qualifying from the league after Al-Ahli of Saudi Arabia won the continental title last Saturday.

May 7 (UPI) — The Federal Reserve on Wednesday announced the lending rate would hold steady due to economic uncertainty caused by the Trump administration’s tariffs.

The lending rate remains between 4.25% and 4.5% despite President Donald Trump wanting it lowered to offset potential inflation due to his tariffs policy and subsequent global trade wars, The Hill and CNBC reported.

The three major U.S. stock indexes finished the day up less than 1% after the Fed’s decision. Before the announcement, they fluctuated up and down.

Concerns about tariff-related inflation and slower economic growth are behind the Fed’s decision to hold rates steady, despite efforts by President Donald Trump to pressure the Fed for interest rate cuts.

“It’s not a situation where we can be preemptive, because we actually don’t know what the right responses to the data will be until we see more data,” Fed Chairman Jerome Powell told reporters after the announcement.

Despite uncertainly, Powell said “the economy itself is still in solid shape.”

The Federal Open Market Committee said in a statement: “The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid” but “inflation remains somewhat elevated.

“The committee seeks to achieve maximum employment and inflation at the rate of 2% over the longer run,” the statement said. “Uncertainty about the economic outlook has increased further.”

U.S. negotiations with key trade partners could impact the economic outlook, Powell said.

As tariffs exert higher inflationary pressure, the Fed is unlikely to cut interest rates again soon unless the job market takes a hit. They last lowered the funds rate in December by 25 basis points.

The Fed wants to cut inflation but also must balance that goal against the risks of tipping the economy into recession.

“The Fed’s got to wait for two things: It’s to see that the policy actually goes into place … But then, when it’s demonstrated, it’s got to see how inflation expectations react. So that’s why the Fed’s got to delay, then go slow,” BNY Investments chief economist and former Fed official Vincent Reinhart said in a statement.

BNY still expects two interest rate cuts in 2025.

“The level of the tariff increases announced so far is significantly larger than anticipated. The same is likely to be true of the economic effects, which will include higher inflation and slower growth,” Powell said in April.

Trump called for Powell’s firing after that statement.

On top of the tariffs, the economy contracted in the first quarter of 2025 as gross domestic product fell by 0.3% at an annual rate.

Consumer sentiment at the end of April plunged to the lowest level since May 2020 during the COVID-19 pandemic.

The Fed has been managing interest rates to curb inflation without sending the economy into recession with the goal of returning inflation to 2%.

The current economic climate is posing a challenge to Fed policymakers as they try to read the data to determine future interest rate decisions.

Goldman Sachs economist David Mericle said in a note it could take a couple of months for enough data to come in to “make the case for a cut.”

Most trading partners now have a baseline 10% tariff enacted on April 5. Trump paused retaliatory tariffs for the worst offenders for 90 days until July 9, including 26% against India, 25% against South Korea, 24% against Japan and 20% against the 27 members of the European Union. Trump’s 145% tariff against China remains in place though he later excluded electronics.

On Wednesday night, Trump posted on Truth Social: “Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!”

Stock markets

The Dow Jones Industrial Average rose 284.97 points, or 0.7%, to 41,113.97. The record was 45,014 on Dec.4 but had dropped to 37,645.59 on April 8.

The Standard and Poor’s 500 climbed 24.37 points, or 0.43%, to 5,631,28, which is off the record of 6,144.15 on Feb. 19 then dropped to 4,982.77 on April 8.

The tech-heavy Nasdaq Composite increased 48.5 points, or 0.27%. The index went into a bear market on April 4 for the first time since 2022 and further dropped to 15,267.913 on April 8. The record high was 20,173.89 on Dec. 16.

Of the 11 CNBC sectors, eight increased, led by consumer discretionary at 1.02% and health at 0.81%. The biggest decline was communications services at 1.84%.

The price of one ounce of gold was up $25.20 to 3,416.7, just off the record 3,425.30 on April 25.

A barrel of oil has been at the lowest level since 2021. On Wednesday, West Texas Intermediate Crude was $58.45, a 39-cent increase. On Monday, it was $57.13, the cheapest since January 2021.

The yield on the 10-year Treasury note ticked up 0.014 to 4.285%.

Study authors argue progressive taxes on wealth and carbon-intensive investments could provide a solution.

The wealthiest 10 percent of the world’s people are responsible for two-thirds of the global warming since 1990, according to researchers.

The way in which the rich consume and invest has substantially increased the risk of heatwaves and droughts, wrote the researchers of a study published on Wednesday in the monthly peer-reviewed scientific journal Nature Climate Change.

This is the first study to quantify the impact of concentrated private wealth on extreme climate events.

“We link the carbon footprints of the wealthiest individuals directly to real-world climate impacts,” lead author Sarah Schoengart, a scientist at the public university of ETH Zurich, told the AFP news agency. “It’s a shift from carbon accounting toward climate accountability.”

Compared with the global average, for example, the richest 1 percent contributed 26 times more to once-a-century heatwaves and 17 times more to droughts in the Amazon, according to the study.

Emissions from the wealthiest 10 percent in China and the United States – which together account for nearly half of global carbon pollution – each led to a two- to threefold rise in heat extremes.

“If everyone had emitted like the bottom 50 percent of the global population, the world would have seen minimal additional warming since 1990,” co-author Carl-Friedrich Schleussner said. “Addressing this imbalance is crucial for fair and effective climate action.”

Burning fossil fuels and deforestation have heated Earth’s average surface by 1.3 degrees Celsius (2.3 degrees Fahrenheit), mostly during the past 30 years.

‘Wealthy emitters play a major role in driving climate extremes’

Schoengart and her colleagues combined economic data and climate simulations to trace emissions from different global income groups and assess their impact on specific types of climate-enhanced extreme weather.

The researchers also emphasised the role of emissions embedded in financial investment rather than just lifestyle and personal consumption. The impact of this consumption and investment is particularly severe in tropical regions such as the Amazon, Southeast Asia and Southern Africa – all areas of the world that have historically contributed the least to global emissions but have been disproportionately impacted by extreme weather.

“Our study shows that extreme climate impacts are not just the result of abstract global emissions. Instead we can directly link them to our lifestyle and investment choices, which in turn are linked to wealth,” Schoengart said. “We found that wealthy emitters play a major role in driving climate extremes, which provides strong support for climate policies that target the reduction of their emissions.”

The authors argued that targeting the financial activities and investment portfolios of high-income individuals could lead to significant climate gains.

“Climate action that doesn’t address the outsized responsibilities of the wealthiest members of society risk missing one of the most powerful levers we have to reduce future harm,” Schleussner said.

Owners of capital, he noted, could be held accountable for climate impacts through progressive taxes on wealth and carbon-intensive investments, thus providing much needed support for adaptation and damage in vulnerable countries.

Earlier research has shown that taxing asset-related emissions is more equitable than broad carbon taxes, which tend to burden those with lower incomes.

Recent initiatives to increase taxes on the superrich and multinationals have mostly stalled, especially since US President Donald Trump’s return to power in January.

In 2021, nearly 140 countries agreed to work towards a global corporate tax for multinational companies with nearly half endorsing a minimum rate of 15 percent, but those talks have stalled as well.

According to the antipoverty NGO Oxfam, the richest 1 percent have accumulated $42 trillion in new wealth over the past decade.

It says the richest 1 percent have more wealth than the lowest 95 percent combined.

The central bank will hold steady amid economic uncertainty driven by tariffs.

The US Federal Reserve has kept interest rates unchanged, brushing off President Donald Trump’s demands to lower borrowing costs, and said that the risks of higher unemployment and higher inflation have risen.

The Central Bank kept its benchmark rate at 4.25 percent to 4.5 percent, where it has been since December, after cutting it three times in a row at the end of last year. Its vote to hold rates steady was unanimous.

In a statement, the Fed said that “uncertainty about the economic outlook has increased further”, as it justified keeping rates consistent despite pressure from the White House.

Many economists and Wall Street investors still expect the Fed will reduce rates two or three times this year, but the sweeping tariffs imposed by Trump have injected a tremendous amount of uncertainty into the US economy and the Fed’s policies.

It is unusual for the Fed to say that the risk of both prices and unemployment have increased. But economists say that is the threat created by Trump’s sweeping tariffs. The import taxes could both lift inflation by making imported parts and finished goods more expensive, while also raising unemployment by causing companies to cut jobs as their costs rise.

The economy overall has “continued to expand at a solid pace”, the Fed said in a policy statement, attributing a drop in first-quarter output to record imports as businesses and households rushed to front-run new import taxes.

The Fed said that it was also “strongly committed to supporting maximum employment and returning inflation to its 2 percent objective.”

The Fed said that one of the driving factors behind its decision is the state of the labour market, as well as “inflation pressures and inflation expectations, and financial and international developments.”

The US Labor Department in the jobs report published last week showed 177,000 jobs were added to the US economy consistent with growth levels over the last 12 months. The report, however, was on employment before “liberation day”, when Trump announced his sweeping tariff policy, which has since driven global economic uncertainty. The ADP jobs report, which is a more immediate metric, showed job growth at 62,000.

Fed Chair Jerome Powell said in a news conference after the interest rate decision that leaving rates unchanged keeps the central bank in a good position to respond.

“For the time being, we are well-positioned to wait for greater clarity before considering any adjustments to our policy stance,” Powell told reporters. “It’s still a healthy economy, albeit one that is shrouded in some very downbeat sentiment on the part of people and businesses,” he added.

“The Fed statement was a statement of the obvious. They gave roughly equal airtime to the threats to growth and inflation, so that tells us we need to wait and see how the data shake out between now and the June meeting before deciding whether they’re going to prioritise keeping inflation expectations contained or to address any hit to growth,” said Brian Jacobsen, chief economist at Annex Wealth Management in Menomonee Falls, Wisconsin.

The unchanged rates come despite increased pressure from Trump to lower rates. Powell has long stressed the importance of an independent central bank. He said the pressure from the president has not changed their decision-making process. When asked why he has not sought a discussion with the president amid Trump’s public rebukes, Powell said, “I’ve never asked for a meeting with any president and I never will.”

May 7 (UPI) — Two Columbia University Public Safety officers were injured and dozens of people were in custody Wednesday after 100 pro-Palestinian protesters forced their way into the New York City campus’ library in “actions that are outrageous,” the university president said.

Acting University President Claire Shipman said the officers were hurt during a crowd surge.

“The individuals who disrupted activities in Butler Reading Room 301 still refuse to identify themselves and leave the building,” she said in a statement.

Protesters started peacefully outside, the Daily News reported, but then some entered Butler Library’s Reading Room 301 around 3:15 p.m.

Activists wearing masks pushed through security at the entrance of the library, as shown in videos on social media. One person pulled a fire alarm inside the library.

After protesters were physically removed from the library, clashes broke out between demonstrators and New York Police Department and campus security in other parts of the campus.

About 60 to 70 were in custody, Deputy Mayor Kaz Daughtry told WABC-TV.

NBC News shared video of several dozen people pushing up against NYPD barricades just outside the university’s campus at 114th Street and Amsterdam Avenue.

At least three protesters were taken out of the library by Columbia security in handcuffs. A fourth person was on a gurney and put into a Columbia ambulance.

“While this is isolated to one room in the library, it is completely unacceptable that some individuals are choosing to disrupt academic activities as our students are studying and preparing for final exams,” the university said in a statement. “These disruptions of our campus and academic activities will not be tolerated. Individuals found to be in violation of University Rules and policies will face disciplinary consequences.”

Shipman asked for assistance with NYPD to secure the building after the demonstrators refused to identify themselves and leave the building.

“Due to the number of individuals participating in the disruption inside and outside of the building, a large group of people attempting to force their way into Butler Library creating a safety hazard, and what we believe to be the significant presence of individuals not affiliated with the university, Columbia has taken the necessary step of requesting the presence of NYPD to assist in securing the building and the safety of our community,” she said.

New York Mayor Eric Adams said in a statement that the NYPD was entering the campus at the “written request” of the university to remove trespassing individuals.

NYPD officers had originally stayed off campus.

“As I’ve said repeatedly, New York City will always defend the right to peaceful protest, but we will never tolerate lawlessness,” Adams said. “To our Jewish New Yorkers, especially the students at Columbia who feel threatened or unsafe attending class because of these events: Know that your mayor stands with you and will always work to keep you safe.”

New York Gov. Kathy Hochul, who was briefed on the situation, said in a statement to WABC-TV: “Everyone has the right to peacefully protest. But violence, vandalism or destruction of property are completely unacceptable.”

Outside the library, activists played drums, and people posted signs and stickers seeking to free Mahmoud Khalil, a recent Columbia grad who has been detained by federal immigration authorities.

This has been the third takeover of a campus building this semester.

“Disruptions to our academic activities will not be tolerated and are violations of our rules and policies; this is especially unacceptable while our students study and prepare for final exams,” the university president said. “Columbia strongly condemns violence on our campus, antisemitism and all forms of hate and discrimination, some of which we witnessed today. We are resolute that calls for violence or harm have no place at our University. We will continue to keep our community apprised as the situation evolves.

In March, the Trump administration in March paused $400 million in federal funding, saying the Ivy League school did not do enough to protect Jewish students from harassment during the protests.

“Once again, protesters violated many University rules and infringed on the rights of Jewish students to study for exams without being screamed at and harassed,” Hillel executive director Brian Cohen posted on X. “We are grateful to the public safety officers who, at great risk to themselves, tried to stop the protesters from storming the library. The University must act quickly and decisively to discipline every student involved in today’s takeover, and the local authorities must do the same for non-students involved.”

Finals begin Friday.