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The United States has faced a significant downgrade in its credit rating, losing its 'AAA' status due to persistent governance issues and rising debt levels. The first strike came in August 2011 when S&P Global downgraded the US to 'AA+' after citing weakened policymaking. Fitch followed suit in August 2023, lowering the rating to 'AA' amid concerns over fiscal governance. The final blow occurred in May 2025 when Moody's, which had maintained the 'AAA' rating since 1917, downgraded the US to 'AA1' due to an escalating federal deficit projected to reach 9% of GDP by 2035. The US debt now stands at a staggering $36 trillion, with annual borrowings exacerbated by a budget deficit. While the White House criticized the downgrades as politically motivated, experts warn that without significant revenue increases or spending cuts, the risk of default remains a looming threat for the world's largest economy. 
Published: May 23 2025, 2 pmeznews.inIn a significant development amidst ongoing hostilities, Russia and Ukraine executed a major prisoner swap on Friday, each releasing 390 individuals, with plans for further exchanges in the coming days. This agreement, part of the first direct talks in over three years, marks a rare step towards peace, despite the failure to establish a ceasefire. Both nations confirmed the release of 270 soldiers and 120 civilians, with the freed Russians currently receiving care in Belarus. Ukrainian President Volodymyr Zelensky shared images of jubilant captives celebrating their return, while emotional scenes unfolded in Kyiv as families reunited. Meanwhile, Ukraine expressed readiness for an immediate 30-day ceasefire, though Russia has set preconditions that Ukraine deems unacceptable. As the conflict continues, Russia reported capturing a settlement in Kharkiv and launched missile strikes in Odesa, resulting in casualties.
Published: May 23 2025, 9 pmeznews.inA US judge has temporarily blocked the Trump administration's attempt to revoke Harvard University's ability to enroll foreign students, which the university described as a "blatant violation" of the Constitution affecting over 7,000 visa holders. Harvard's complaint, filed in Boston federal court, argued that the revocation would severely disrupt its academic programs and undermine its mission, as international students comprise 27% of its enrollment. US District Judge Allison Burroughs issued the restraining order amid broader efforts by the Trump administration to pressure academic institutions to align with its policies, including targeting universities for alleged antisemitism and threatening legal action against dissenting law firms. The White House dismissed Harvard's lawsuit, claiming the university should focus on creating a safer campus environment. Harvard maintains that the government's actions are an unlawful infringement on its academic freedom and independence.
Published: May 23 2025, 9 pmeznews.inStarbucks in South Korea has blocked six presidential candidates' names from drink orders to uphold political neutrality during the election season, which ends on June 3. This decision comes amid a climate of political polarization, as customers had begun using politicians' names as nicknames, often accompanied by supportive or critical messages, leading to potential discomfort for others in the café. The candidates affected include Lee Jae-myung of the Democratic Party, Kim Moon-soo from the People Power Party, and others. With Lee leading in polls and Kim gaining traction, the political landscape is tense following the removal of President Yoon Suk Yeol. Starbucks aims to ensure a pleasant experience for all customers, echoing similar neutrality efforts by other companies like Naver, which has disabled autocomplete for political searches. "Our goal is to make sure every customer has a great experience," a Starbucks spokesperson stated.
Published: May 23 2025, 9 pmeznews.inGerman sportswear giant Adidas has confirmed a data breach involving consumer information, although it reassured customers that passwords and credit card details remain secure. The breach occurred via a third-party customer service provider, with the compromised data primarily consisting of contact details from consumers who had previously interacted with Adidas' customer service. In response to the incident, Adidas has initiated immediate containment measures and is conducting a thorough investigation in collaboration with cybersecurity experts. The company is also in the process of notifying potentially affected customers about the breach. This incident highlights ongoing vulnerabilities in data security, particularly related to third-party services.
Published: May 23 2025, 9 pmeznews.inA couple in Kentucky lost an arm each while sheltering from a powerful EF-4 tornado that struck on May 16, claiming 19 lives and causing widespread destruction. Paul and Gail Cline, both in their 60s, were found holding each other amidst the wreckage of their home. Their niece, Brandy Bowman, explained that their injuries occurred as they clung together during the storm's impact. Neighbors rescued the couple, with one applying a tourniquet to Gail's arm, preventing severe blood loss. Both were taken to London Hospital, where Paul is recovering, but Gail faces serious injuries, including broken ribs and damage to her liver and lungs. The tornado, with peak winds of 170 mph, left a path of devastation across multiple counties, spanning nearly a mile wide and traveling 56 miles. A GoFundMe campaign has raised over $61,000 for the Cline's recovery after they lost their home and vehicles.
Published: May 23 2025, 8 pmeznews.inExternal Affairs Minister S. Jaishankar emphasized India's firm stance against terrorism and nuclear threats during a press conference in Berlin on Friday. Speaking alongside German counterpart Johann Wadephul, Jaishankar asserted that India maintains a "zero-tolerance" policy towards terrorism and will not succumb to "nuclear blackmail." He reiterated that India will engage with Pakistan solely through bilateral channels, urging clarity on the matter. His comments follow India's response to the recent Pahalgam terror attack, which claimed 26 lives. Jaishankar highlighted India's diplomatic efforts post-attack, aligning with Prime Minister Narendra Modi's declaration of a "new normal," where cross-border terrorism will be regarded as an act of war. He also acknowledged Germany's recognition of every nation's right to self-defense against terrorism, reinforcing the importance of international solidarity in combating this global threat.
Published: May 23 2025, 8 pmeznews.inRyanair has instructed its Spanish flight attendants to repay salary increases of up to Rs 2.8 lakh ($3,400) following a court ruling that deemed the pay hike agreement with the CCOO union invalid. The ruling came after the rival USO union contested the agreement, leading Ryanair to notify USO-represented cabin crew that the funds would be deducted from their payslips until repaid. The airline has further threatened to revert salaries to pre-hike levels unless attendants switch to the CCOO union. USO criticized the original agreement, claiming the negotiators lacked authority, and accused Ryanair of pressuring workers to join CCOO to avoid penalties. A Ryanair spokesperson stated the company is complying with the court ruling while an appeal is pending. Ryanair, known for its low-cost model, has faced multiple strikes from workers across Europe over pay and working conditions in recent years.
Published: May 23 2025, 8 pmeznews.inNegotiators from Iran and the United States resumed discussions in Rome on Friday, aiming to address the contentious issue of Iran's nuclear ambitions. Despite warnings from Tehran that reaching a new agreement may be challenging due to conflicting demands, both sides recognize the stakes involved. President Trump seeks to limit Iran's nuclear capabilities, which could threaten regional stability and Israel, while Iran aims to alleviate crippling sanctions on its economy. Iranian Foreign Minister Abbas Araqchi and Trump's envoy Steve Witkoff are leading the talks, mediated by Oman. Tensions remain high, with Iran intensifying uranium enrichment beyond previous limits, while the U.S. insists on a deal that permits civil nuclear energy without enrichment. Supreme Leader Ayatollah Khamenei dismissed U.S. demands as excessive, complicating negotiations further. The outcome of these talks is critical, as failure could escalate tensions, particularly with Israel's concerns over Iran's nuclear potential.
Published: May 23 2025, 6 pmeznews.inHarvard University has filed a lawsuit against the US government following the revocation of its eligibility to enroll international students, a decision described as "unlawful and unwarranted" by Harvard President Dr Alan M Garber. In a statement, Garber emphasized that the move jeopardizes the futures of thousands of students and serves as a warning to others pursuing education in the US. The revocation, enacted under the Student and Exchange Visitor Program, affects over 7,000 visa holders and follows President Donald Trump's threats to impose such actions unless Harvard complied with government demands for oversight of its governance and curriculum. Harvard, which has enrolled international students for over 70 years, argues that the government's actions violate the First Amendment and due process rights. The university is seeking a temporary restraining order while it pursues legal remedies, asserting that the decision is retaliatory in nature.
Published: May 23 2025, 6 pmeznews.inIndia has emerged as the third-highest country in terms of financial losses from Schengen visa rejections, with ₹136 crore lost in 2024 due to 1.65 lakh denied applications, according to data from the European Commission. The rejection rate stands at 15%, primarily driven by France, which accounted for the most rejections at 31,314. Overall, over 11.08 lakh applications were lodged from India, with only 5.91 lakh approved. The total number of rejected applications across all countries exceeded 17 lakhs, generating €145 million (₹1,410 crore) in fees, of which Indian applicants contributed €14 million (₹136.6 crore). Additionally, the visa application fee has risen from €80 to €90 for applicants aged 12 and above, exacerbating concerns among travel agencies and potential travellers. The high rejection rates pose significant implications for tourism, business, and academic exchanges between India and European nations, underscoring the need for improved guidelines and application processes.
Published: May 23 2025, 7 pm
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