The eyes of the global financial markets are on the US Federal Reserve. It's expected to be cut later on Wednesday, around a quarter-point. But US President Donald Trump has called repeatedly for much steeper rate cuts.

Washington

US President Donald Trump has taken several steps to influence the Federal Reserve, including attempting to remove board member Lisa Cook and appointing Stephen Myron, his Council of Economic Advisors chairman, to a vacant seat. Myron has stated he will act independently, but concerns have been raised due to his ongoing ties to the White House.

Experts warn that undermining the Federal Reserve's independence could lead to lower interest rates due to political pressure, potentially resulting in higher inflation and reduced consumer spending. Such changes in the US, the world's largest economy, could have significant global economic impacts.

Global markets watch as Trump challenges Fed independence

Layoffs of federal workers begin as the government shutdown enters Day 10, OMB Director Russ Vought says. Some federal employees received notices Friday telling them they will be laid off in 60 days, CBS News has confirmed. Nancy Cordes has more.

Federal workers start receiving layoff notices amid shutdown

French President Emmanuel Macron on Friday named Sebastien Lecornu as prime minister, reappointing him after he quit the job earlier this week.

Paris

Macron reappoints Lecornu as French PM days after he quit the job

Officials say a deadly explosion at a military explosives facility in Tennessee killed multiple people, and others remain missing. CBS News' Shanelle Kaul reports.

McEwen

Deadly explosion at military explosives facility in Tennessee

A federal judge has temporarily blocked the deployment of National Guard troops anywhere in the state of Illinois. CBS News' Ian Lee reports.

Chicago

Judge temporarily blocks National Guard deployment to Illinois

The Israeli military has begun withdrawing troops following a ceasefire agreement with Hamas. The deal, brokered by the U.S. and Egypt, includes releasing hostages and a plan for Gaza's future governance.

Jerusalem

Middle East Conflict

Gaza ceasefire agreement has come into effect, Israeli military says

Venezuelan political opposition leader Maria Corina Machado has been awarded the 2025 Nobel Peace Prize. CBS News' Ramy Inocencio reports.

Stockholm

María Corina Machado wins Nobel Peace Prize

U.S. President Donald Trump will travel to Egypt and Israel this weekend to attend the signing of the Gaza peace agreement, address Israel's parliament and witness the release of hostages.

Trump to visit Middle East for Gaza peace deal signing

New York Attorney General Letitia James was indicted on one count of bank fraud and one count of giving false statements. She called the charges baseless and politically motivated, accusing President Donald Trump of using the Justice Department for revenge.

New York

NY Attorney General Letitia James indicted on federal fraud charges

China dramatically expanded its rare earths export controls on Thursday (October 9), adding five new elements and extra scrutiny for semiconductor users as Beijing tightens control over the sector ahead of talks between Presidents Donald Trump and Xi Jinping.

Beijing

China tightens rare earth export controls ahead of U.S. talks

A French court on Thursday (October 9) rejected the appeal of a former construction worker found guilty last year of the aggravated rape of Gisele Pelicot, and increased his prison sentence by a year to 10 years, his lawyer said

Sentence increased for man convicted of raping Gisele Pelicot

At least two people have died in a powerful 7.4 earthquake that struck the south east coast of the Philippines on Friday (October 10). Authorities had initially issued evacuation warnings following tsunami threats; however, these have now been lifted.

Davao Oriental

Philippines hit by 7.4 magnitude earthquake, at least two dead

Peru’s Congress has voted to impeach President Dina Boluarte on grounds of moral incapacity, plunging the country into fresh political turmoil after months of unrest.

Quito

Peru's President Dina Boluarte impeached

Israeli Prime Minister Benjamin Netanyahu announced that his government has approved a plan to release all remaining hostages in Gaza. The move is part of President Trump’s peace plan and could bring an end to the two-year conflict in the region.

Tel Aviv-Yafo

Israeli government approves framework to release hostages

New York Attorney General Letitia James has been indicted by a grand jury in Alexandria, Virginia. She faces two separate charges, one count of bank fraud and one count of false statements to a financial institution.

Alexandria

Federal grand jury indicts New York AG Letitia James

Israel and the Palestinian militant group Hamas signed an agreement on Thursday to cease fire and free Israeli hostages in exchange for Palestinian prisoners, in the first phase of U.S. President Donald Trump's initiative to end the two-year war in Gaza.

Trump says Israel hostages to be freed early next week

The U.S. Senate held its seventh round of votes Thursday on Democratic and Republican plans to fund and reopen the government, but once again the bills failed to pass.

Senate votes to reopen government fail again on 9th day of shutdown

The chemistry award is the third 2025 Nobel Prize to be announced this week. Three U.S. scientists won the award in chemistry for creating a new molecular structure.

U.S. scientist trio win Nobel Prize in chemistry

Ukrainian President Volodymyr Zelenskyy accused Russia of wanting to sow "chaos" in Ukraine by launching strikes on his country's energy grid and railway infrastructure, in comments published Thursday.

Kyiv

Ukraine Invasion

Zelenskyy says Russia aims to sow 'chaos' with energy strikes

U.S. President Donald Trump announced Wednesday (October 8) that Hamas has agreed to release hostages and Israel will pull back its troops in Gaza in the "first phase" of a peace deal. CBS News' Debora Patta reports.

Israel and Hamas agree to phase one of peace deal

Russia and China are sending high-level representatives to North Korea for celebrations honoring 80 years of the ruling party. CBS News' Ramy Inocencio reports.

Pyongyang

Russia, China send representatives to North Korea

The Toronto Blue Jays won Game 4 of their American League Division Series matchup against the New York Yankees to advance to the next round of the Major League Baseball playoffs.

Blue Jays defeat Yankees to advance to ALCS

The ongoing U.S. government shutdown has led to major delays and staffing shortages at airports, raising safety concerns. The flight attendants’ union says reduced oversight and overworked crews are putting additional strain on the aviation system.

Aviation less safe during any government shutdown, union warns

Earlier this week, Transportation Secretary Sean Duffy said one of the reasons for staffing shortages at airports is that a growing number of air traffic controllers have been calling in sick. Those controllers don't know when they'll get their next paycheck amid the government shutdown.

Los Angeles International Airport

Why the government shutdown is playing into travel delays

President Trump says he might travel to the Middle East as soon as this weekend as Israel and Hamas continue indirect negotiations to end the war in Gaza. CBS News senior White House and political correspondent Ed O'Keefe has the details.

Cairo

Trump 'may' go to Egypt or Gaza amid Israel-Hamas peace

A 29-year-old Florida man has been arrested on suspicion of arson in connection with the deadly Palisades Fire that scorched parts of Los Angeles earlier this year, officials said Wednesday.

Los Angeles

Man arrested for allegedly starting Palisades Fire in California

Former FBI Director James Comey pleaded not guilty to two counts in federal court on Wednesday (October 8) after being indicted by the U.S. Department of Justice in September.

James Comey pleads not guilty to charges brought by Trump's DOJ

Some air traffic control staffing issues and bad weather are affecting flight delays as the government shutdown enters its eighth day. CBS News senior transportation correspondent Kris Van Cleave has more details.

Government shutdown, staffing issues lead to flight delays

Hamas’ lead negotiator says the group needs guarantees of a lasting peace as indirect talks with Israel to reach an agreement over the implementation of the first phase of Trump’s peace plan for Gaza enter the third day.

Sharm El-Sheikh

Hamas says it is ready to reach Gaza deal but needs 'real' guarantees

Sebastien Lecornu to hold two days of talks to try to shore up cross-party support for his collapsed government.

Outgoing French PM launches last bid to quell political crisis

Israel is pressing forward with its attacks across the Gaza Strip. 
Its forces have targeted displaced families in Khan Younis, killing a mother and her children. Several Palestinians have also been killed in a strike on Al Shati refugee camp, in Gaza City.

Breakdown