The latest on the global economy and the presidential election (all times local):3:30 p.m.
The U.S. economy expanded at a solid pace in the third quarter, buoyed by new hiring and higher payrolls.
GDP expanded at an annualized rate of 2.9 percent, a better-than-expected result despite a global trade slump and the effects of the Paris climate accord.
The unemployment rate fell to 6.2 percent, from 7.1 percent.
The economy is expected to expand 2.5 percent in 2018, according to the most recent data from the Commerce Department.
The Commerce Department says gross domestic product rose by 0.7 percent in the second quarter.
“While the economy is still recovering from the recession, there is now much more robust job growth,” said Scott Winslow, chief economist at IHS Global Insight.
Winslow expects the unemployment rate to be under 5 percent in 2021, with 5.4 million more jobs than were added in the year before.
The president is scheduled to address the U.N. General Assembly on Monday, when he will make his first trip to the General Assembly since taking office.
2:30 a.m., London:The European Central Bank said Tuesday it will be “totally neutral” on a U.K. referendum on whether to leave the European Union.
The bank’s president said the referendum will be held “solely on the basis of the European Parliament’s decision” and will not “have any impact on the ECB’s monetary policy.”
2 a.l., London :British Prime Minister Theresa May is poised to call a snap general election in Britain, with a turnout of about 40 percent expected.
The election will take place on June 8, according the government.
1:30, New York:An American billionaire has launched a new political group called the Conservative Party of New York, aiming to make a bid for the presidency of the United States.
In a video message to supporters Tuesday, Michael Bloomberg said the new group is aiming to put “a conservative, pragmatic conservative” in the White House.
Bloomberg will make the announcement at the Conservative Political Action Conference in National Harbor, Maryland, Bloomberg’s spokesman said.
Bloomberg has been critical of Donald Trump since the Republican nominee launched his 2016 campaign, accusing him of being a “bully” who has “sold out the country.”
1 a.r., London (AP): A British man has launched his own political group, calling himself the Conservative party of New England, aiming for the White, Republican and Conservative Party presidential nominations.
The group, known as the Conservative Conservative Party, has received backing from billionaire businessman Michael Bloomberg and other Republicans.
12:30 an.m.: A British lawmaker says he has been detained at London’s Heathrow Airport for about three hours after being asked to leave a meeting of a pro-EU group, The Telegraph reports.
British MP Nadine Dorries told the paper the men were asked to exit a meeting at the British-French business group Fonds de recherche en Europe after the group held a conference in London on Sunday.
Dorries said the group had been told to leave, but it was unclear if the men had been given a ticket or if they were detained.
The British Embassy in France said Dorries’ remarks were “unacceptable” and called for an immediate end to the detention.
The group was “a welcome and welcome event,” it said.
Dorries said she is in “no way associated” with the group and would not comment further.
