Economic Shifts and Legal Battles Shape US Headlines
The U.S. faces potential debt defaults, while Starbucks battles NLRB rulings. Chinese cyber threats target telecoms, and TikTok laws stir free-speech concerns. Trump navigates visa debates and potential TikTok bans, as U.S. homelessness rises sharply. Mega Millions jackpot winner emerges in California.
The United States could be approaching another debt ceiling crisis, with Treasury Secretary Janet Yellen signaling that extraordinary measures may be needed by mid-January to prevent a default. Yellen urged Congress to take decisive action to maintain the country's financial credibility.
In legal news, Starbucks has faced a setback as a federal appeals court denied its challenge to a National Labor Relations Board ruling. The court found the company unlawfully dismissed baristas seeking union organization, affecting major corporations like Amazon and SpaceX.
Cybersecurity alarms are ringing as another telecom company has been compromised by China's Salt Typhoon cyberespionage. Meanwhile, free-speech groups challenge the legality of a U.S. law targeting TikTok, presenting arguments to the Supreme Court. U.S. homelessness records an 18% rise amid economic challenges, highlighting urgent social issues.
(With inputs from agencies.)
ALSO READ
Murkowski Backs Tillis to Safeguard Fed Independence Against Trump's Nominees
Dollar Dips Amid Fed Tensions and Trump's Search for New Chair
Fed Leaders Unite Against Trump Administration's Investigative Actions
Trump's Credit Card Interest Rate Cap: Financial Stocks Tumble
Tensions Rise Over Trump's Greenland Ambitions

