Moody’s strips US of last top credit rating over debt concerns
The US has lost its final AAA credit rating after Moody’s downgraded the country to Aa1, citing growing deficits and mounting debt as risks to long-term fiscal health.
As Mother’s Day approaches, new tariffs are driving up the cost of imported flowers, putting pressure on an industry already dealing with economic strain.
According to CNN, the Society of American Florists said florists and wholesalers nationwide are adapting to the financial pressure much like they did during the pandemic and other past disruptions.
“While tariffs and cost increases are not welcome developments, the floral industry is remarkably resilient,” the group said in a statement.
The society noted that businesses are coping by ordering products earlier, strengthening relationships with growers and wholesalers, and planning ahead to manage rising costs.
In 2024, the U.S. imported roughly $2.26 billion worth of fresh-cut flowers, with Colombia supplying 60% and Ecuador 25%, according to U.S. Census Bureau data. Meanwhile, a LendingTree survey shows Mother’s Day spending is down 14% this year, as shoppers pull back amid inflation and higher prices.
Ukrainian President Volodymyr Zelenskyy met Turkish President Recep Tayyip Erdogan in Ankara on May 15, with discussions reportedly focusing on upcoming peace talks between Ukrainian and Russian delegates in Istanbul.
Israeli Prime Minister Benjamin Netanyahu said the war in Gaza will not stop until Hamas is destroyed, following the release of US-Israeli soldier Edan Alexander.
Qatar signed a landmark agreement with U.S. aerospace giant Boeing on Wednesday to acquire 160 aircraft for Qatar Airways, a deal valued at $200 billion. The signing took place in Doha during the visit of U.S. President Donald Trump.
Delegations from Russia and Ukraine met in Türkiye for their first direct peace talks since 2022, with discussions lasting under two hours.
Vietnam and Thailand have officially upgraded their ties to a strategic partnership, marking a significant step forward in regional diplomacy.
Indian Minister of Petroleum and Natural Gas, Hardeep Singh Puri, announced that India is opening up 200,000 square kilometers of its sedimentary basin for oil and gas exploration, inviting Russian companies to participate.
Colombian President Gustavo Petro announced on May 16 that his country has started the process of joining the New Development Bank of BRICS.
Ministers in Libya’s Government of National Unity (GNU) are resigning one by one amid mounting protests in Tripoli, Libya Press agency reports
The US Supreme Court on Friday paused President Donald Trump’s attempt to carry out deportations using the 1798 Alien Enemies Act, siding with a group of Venezuelan immigrants in Texas who argued they were at risk of sudden removal under the rarely used wartime law.
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