U.S. Department of Transportation has announced that it will quickly release $29.4 million in Emergency Relief Funding to California, ravaged by deadly storms recently.
The Department of Transportation's Federal Highway Administration (FHWA) released the funds for use by the California Department of Transportation (Caltrans) and four U.S. Federal land management agencies as a down payment to repair roads, bridges and highways that were damaged in storms and flooding that lashed across the state in late December and January.
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Political News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.