Iran war's cost to American taxpayers grows to an estimated $47.1 billion

The Korea Times - Oct 29, 2026

WASHINGTON — The cost of the Iran war to American taxpayers has grown to $47.1 billion, according to a new estimate the Pentagon has provided to Congress. The fallout from the conflict has become a key issue in the midterm elections and could increase as President Donald Trump leaves open the possibility of renewed hostilities. The figure from U.S. Central Command, which oversees operations in the Middle East, is as of Oct. 16 and offers the most up-to-date cost for the conflict since it was launched in late February by the United States and Israel. The latest price tag, obtained by The Associated Press this week, shows a $3.5 billion bump in U.S. spending since early September, when that figure stood at about $43.6 billion. The growing cost of the unpopular war and its economic ripple effects on energy prices could hurt Republicans in next week's midterm elections. Voters on Tuesday will decide which political party controls Congress during Trump's last two years in office. The Republican president has said new strikes on Iran are an option after the midterms and is sending more mili

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Ukraine, Russia, US peace negotiators to meet between Nov. 6 and 10, Zelenskyy says
Oct 29, 2026

Ukraine, Russia, US peace negotiators to meet between Nov. 6 and 10, Zelenskyy says

Ukrainian President Volodymyr Zelenskyy said on Wednesday that he hoped that a trilateral meeting between peace negotiators from Ukraine, Russia and the United States would take place in Abu Dhabi between November 6 and November 10. Zelenskyy said that Kyiv wanted Europe to be involved in the talks on how to end the war, adding that unity and stronger pressure on Russia were needed.

Netanyahu and top rival face postelection choices that could redefine Israeli politics
Oct 29, 2026

Netanyahu and top rival face postelection choices that could redefine Israeli politics

JERUSALEM — Israelis braced for perhaps weeks of political uncertainty Wednesday after an election that has challenged Prime Minister Benjamin Netanyahu ’s grip on power and raised the almost unthinkable possibility of some Jewish and Arab parties teaming up in an effort to unseat him. Final election results could come as early as Thursday evening, though no clear winner is expected to emerge. Arab-led parties made a historic showing, but it’s not clear if the other opponents of Netanyahu's far-right government would form a coalition with them to reach a majority of seats in parliament. Issues around the Palestinians and their descendants remain incredibly sensitive, and Israelis are already renewing a debate about the identity of the nation founded as a state for the Jewish people. On Wednesday, Netanyahu warned against a “dangerous government” that might include Arab parties, whose constituents make up 20% of Israel’s population. And even as it leads in the vote count, Netanyahu's Likud party claimed that Tuesday’s election was “stolen” by Arab parties and asked Israe

Trump expands hunt for noncitizen voters with broad subpoena campaign before midterms
Oct 29, 2026

Trump expands hunt for noncitizen voters with broad subpoena campaign before midterms

The Trump administration has issued more than 100 subpoenas demanding records on tens of thousands of voters in at least 13 states, part of an escalating effort ahead of next week’s midterm elections to uncover evidence of unlawful voting by people who aren’t US citizens. Most of the subpoenas documented by Reuters were issued to state and local election officials in the past three months, though some date to the start of the year. Many were previously unreported, revealing a federal effort to identify potential noncitizen voters that is broader than publicly known. It is illegal for noncitizens to vote in US federal elections. Legal experts say the records could be used to contest results in close midterm races, despite scant evidence that voting by noncitizens is widespread. Reuters identified the subpoenas through public-records requests and interviews with local and state officials. Many were issued in Democratic strongholds, including Minneapolis, Philadelphia, Los Angeles and other California cities. But they also reach into Republican-leaning states with competitive races, i

US visa troubles for Korean lawmakers 'very unusual': ex-US diplomat
Oct 29, 2026

US visa troubles for Korean lawmakers 'very unusual': ex-US diplomat

SEATTLE — A former U.S. diplomat said it is "very unusual" for Korean lawmakers to have their official visits disrupted by visa complications, suggesting that stricter interpretations of U.S. immigration rules may be behind the recent difficulties. Henry Haggard, a former minister counselor for political affairs at the U.S. Embassy in Seoul who now heads a Washington D.C.-based geopolitical advisory firm, said additional screening for applicants with criminal records is normal, but such procedures have historically rarely prevented senior officials from traveling to the United States on official business. "It is normal for any official or citizen with a criminal record — Korean or otherwise — to have to go through a more complex application process, but it is very unusual for such additional processing to lead to lawmakers or those traveling for official business to have to cancel their trip or to get refused," Haggard told The Korea Times on Wednesday. His comments came after Rep. Jin Sung-joon, chair of the National Assembly's defense committee, disclosed that his U.S. visa appl

US Fed keeps rates unchanged despite elevated inflation, gives little signal of next move
Oct 29, 2026

US Fed keeps rates unchanged despite elevated inflation, gives little signal of next move

WASHINGTON — The Federal Reserve kept its key rate unchanged Wednesday at about 3.9 percent despite stubbornly high inflation, while providing little hint about the central bank’s next moves. “Inflation remains elevated,” the Fed said in a statement released after its two-day policy meeting. Holding off on an increase will allow “the accumulation of more information” that will help determine what policy the Fed should pursue “to ensure a timely return of inflation” to the central bank’s 2 percent inflation target, the statement said. The Fed, led by Chairman Kevin Warsh, raised its benchmark rate last month for the first time in three years, defying President Donald Trump’s demands for rate cuts, in an effort to get inflation back to its 2 percent target in a “timelier” manner. The Fed is tasked by Congress to combat inflation, and it does so by lifting rates to slow borrowing and spending and cool price increases. The statement leaves the Fed’s next moves unclear, even though officials last month penciled in another rate hike for this year. Wall Street invest

Apple shows first touchscreen laptops amid product blitz
Oct 29, 2026

Apple shows first touchscreen laptops amid product blitz

LOS ANGELES — Apple CEO John Ternus unveiled the company's first touchscreen MacBooks on Wednesday, abandoning a long-held aversion to the technology as it caps a burst of product launches ahead of the holiday shopping season. Ternus, a former Apple hardware veteran and the company's new CEO, took the stage at an Apple event in Los Angeles, part of a media blitz filled with new product launches. He launched a folding iPhone, Duo, at Apple's Silicon Valley headquarters in September and a smart home hub in New York earlier this month. While those products will test new markets for Apple, the Los Angeles event could rekindle an old question: should Apple put the touchscreens that it made mainstream in iPhones and iPads in its oldest product line? Apple executives long resisted the idea, with Steve Jobs saying in 2010 that touchscreens on laptops were "ergonomically terrible" and then-CEO Tim Cook saying in 2012 that such devices would be as pleasing to users as converging a toaster and a refrigerator. Before becoming Apple's latest CEO, Ternus argued that Apple already made a touchscreen c

US stocks hold steady ahead of Fed rate decision
Oct 29, 2026

US stocks hold steady ahead of Fed rate decision

NEW YORK — U.S. stocks are drifting Wednesday as the countdown ticks toward this afternoon’s announcement from the Federal Reserve on what it will do with interest rates. The S&P 500 rose 0.2 percent and pulled within 1 percent of its all-time high, which was set earlier this month. The Dow Jones Industrial Average was up 149 points, or 0.3 percent, as of 12:46 p.m. Eastern time, and the Nasdaq composite was mostly unchanged. The day’s highlight will likely be what the Federal Reserve says, if anything, about where interest rates are heading. The Fed raised its main interest rate last month for the first time in three years in hopes of slowing the high inflation that’s squeezing the economy and discouraging Americans. The widespread expectation on Wall Street is that the Fed will leave the federal funds rate alone at this meeting, and the question is whether it will give hints about what may happen at later meetings. Fed Chairman Kevin Warsh, though, has been adamant since taking over the Fed about wanting it to give fewer indications about its future moves. Wall Street cares so

Federal Reserve likely to skip rate hike despite elevated inflation
Oct 29, 2026

Federal Reserve likely to skip rate hike despite elevated inflation

WASHINGTON — The Federal Reserve is expected to stand pat on interest rates Wednesday even though inflation has accelerated in the past couple of months as the Iran war has caused spikes in oil and gas prices. The Fed's latest policy meeting concludes less than a week before the midterm elections, which have focused heavily on concerns about the cost of living and affordability. Consumers have generally soured on an economy weighed down by more expensive gas, groceries, and clothing, among other items. The Fed, led by Chairman Kevin Warsh, wants to return inflation to its 2 percent target, which it typically does by raising its short-term interest rate. Higher borrowing costs, over time, can cool spending and slow inflation. The Fed raised its key rate last month for the first time in three years, from about 3.6 percent to 3.9 percent, in what many investors and economists perceived was a first step toward a renewed effort to bring down inflation. Yet Warsh faces a host of challenges in achieving that goal. President Donald Trump slammed the Fed for raising its key rate last month, th

For Israel's Arabs, record turnout may bring political clout
Oct 29, 2026

For Israel's Arabs, record turnout may bring political clout

NAZARETH, Israel — Israel's Palestinian citizens appear set to secure a record number of seats in parliament and could emerge as kingmakers after strong turnout in Tuesday's election, galvanized by what they describe as the racist policies of Prime Minister Benjamin Netanyahu's government. But while they may have helped block an outright win by Netanyahu and his far-right allies, parties representing Israel's 21% Arab minority have so far been shunned by the prime minister's main opponent, Gadi Eisenkot, who has no clear path to power without them. Vote tallies show the two main Arab parties on course to win around 19 of parliament's 120 seats, nearly double their current representation in the Knesset. Netanyahu's coalition bloc is on track for 53 seats, short of the 61 needed for a majority, with Eisenkot's grouping expected to win 48 seats. 'Getting rid of Netanyahu's government' Yousef Jabareen, the leader of the Arab-dominated Joint List, told Reuters his party would seek to use its projected 12 seats "to facilitate getting rid of Netanyahu's government and hopefully helping to cha

Netanyahu set to remain caretaker after inconclusive Israeli election
Oct 29, 2026

Netanyahu set to remain caretaker after inconclusive Israeli election

JERUSALEM — Benjamin Netanyahu looked set to remain Israel's caretaker prime minister after unexpectedly strong backing among Jewish voters left his opponents little apparent prospect of unseating him, despite his right-wing bloc losing its parliamentary majority. With nearly 86 percent of votes tallied on Wednesday, Israel's three main broadcasters projected Netanyahu's bloc of right-wing, far-right and ultra-Orthodox parties would win 53 seats in the 120-seat Knesset, well ahead of the 48 for rival Gadi Eisenkot's opposition bloc. Parties representing Arab Israelis were projected to win an unprecedented 19 seats, leaving Eisenkot little realistic path to power without their broad backing, which many Jewish political leaders reject. The results could still change as counting continued, but Eisenkot's bloc of anti-Netanyahu parties, ranging from the centre-left to the hard right, had fallen short of pre-election polls that forecast a tight race. Netanyahu would remain caretaker prime minister during any coalition negotiations and potentially until another election next year. While a ca

High-speed train collision kills at least 68 in Spain's 2nd deadly rail crash this year
Oct 29, 2026

High-speed train collision kills at least 68 in Spain's 2nd deadly rail crash this year

URDA, Spain — A high-speed train slammed into another that had stopped on the tracks Wednesday in Spain, killing at least 68 people and injuring dozens in the second deadly rail collision this year. The regional government of Castilla La Mancha confirmed the death toll and said another 58 people were receiving medical treatment at hospitals. Rescue workers searched the wreckage through the day for survivors and bodies. The collision came just nine months after another deadly crash involving high-speed trains operated by the same two companies in southern Spain in January. “Today all of Spain is grieving,” Spanish Prime Minister Pedro Sánchez said from the crash site, where he announced that his government would declare three days of mourning. Sánchez called for increased safety measures to restore confidence in a high-speed rail system that was once a source of national pride. “It is unacceptable for a country like Spain to suffer two high-speed rail accidents in the same year,” said Sánchez, who faces an election on Nov. 29. Spain’s rail system operator ADIF said the crash

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