Fed cuts by a quarter point, indicates fewer reductions ahead

About the AuthorTOI World DeskTOI World Desk consists of a dedicated team of experienced journalists and writers committed to delivering timely, accurate news and diverse perspectives on global events. They aim to provide readers with a nuanced understanding of international affairs, exploring the interconnected stories that shape our world.Read More Need More Context? 🔎

The US Supreme Court has allowed President Trump's administration to resume deportations of migrants to third countries, reversing a lower court's requirement for migrants to present risks they might face. The decision has been criticized by the court's liberal justices as a "gross abuse," particularly concerning eight migrants removed to South Sudan despite their serious criminal convictions. Need More Context? 🔎

Germany plans to increase its defense spending by over 66% by 2029, reaching €162 billion, as Chancellor Friedrich Merz responds to threats from Russia and the U.S. This includes annual military aid to Ukraine and aims to elevate defense spending to about 3.5% of GDP, surpassing France and the UK, while also implementing significant infrastructure investments and tax breaks to stimulate growth. Need More Context? 🔎

Iran Fires Missiles at US Base in QatarIran launched missiles at the Al Udeid Air Base in Qatar in retaliation for recent US strikes on its nuclear facilities, but Qatar successfully intercepted them and declared its right to respond under international law. No casualties were reported following the incident on June 23, 2025. Need More Context? 🔎

Kroger plans to close approximately 60 stores over the next 18 months following the failure of its merger with Albertsons due to antitrust concerns, resulting in a $100 million impairment charge. The company will offer affected employees positions at other locations and aims to reinvest savings into enhancing customer experience, despite maintaining its operating profit forecast of $4.7 billion to $4.9 billion. Need More Context? 🔎

A game-issued wooden hockey stick attributed to Bill Barilko, who famously scored the winning goal for the Toronto Maple Leafs in the 1951 Stanley Cup, fetched $60,000 at auction, significantly exceeding its estimated value of $3,000 to $5,000. The stick features several signatures, including Barilko's, highlighting its historical significance. Need More Context? 🔎