As part of its cost-cutting efforts, the Trump administration is planning...
As part of its cost-cutting efforts, the Trump administration is planning to eliminate 80,000 jobs from the Department of Veterans Affairs, the agency that provides healthcare to veterans. Meanwhile, the IRS is expected to chop its workforce down to half its size, according to the New York Times, though the timing of those cuts is unclear with Tax Day looming. On the flip side, the CDC invited about 180 recently laid-off employees to come back to work.
US pauses intelligence sharing with Ukraine. The US...
US pauses intelligence sharing with Ukraine. The US has suspended its intelligence sharing with Ukraine, cutting off the flow of information that Ukraine has used to pinpoint the location of Russian troops and targets since the early months of the war. The move comes after the administration recently froze military aid following US peace talks with Russia that excluded Ukraine and an Oval Office meeting with Ukrainian President Volodymyr Zelensky that devolved into a shouting match. But US officials hinted that the intelligence sharing could resume if Ukraine is willing to go along with the US’ efforts at a peace deal with Russia.
The US has been in direct talks with Hamas as the group’s ceasefire deal with Israel waivers, a departure from former US policy of not engaging directly with Hamas, which it designates as a terrorist organization. But it’s not necessarily a softening: Yesterday, President Trump posted what he called a “last warning” to Hamas to release the remaining hostages, saying he was giving Israel “everything it needs to finish the job.”
Disney is laying off ~6% of staff at its ABC News and Disney Entertainment Networks units and plans to shutter the polling site 538.
Germany’s incoming chancellor announced a deal to spend billions on defense and infrastructure in the EU’s largest economy.
The mayors of four major US cities were grilled by Republicans in Congress over designating their towns as “sanctuary cities” amid an immigration crackdown.
Rep. Sylvester Turner, a first-term Democrat from Texas, died at age 70 following a medical emergency after President Trump's address to Congress.
Digg is trying to reclaim its spot as the internet’s destination for aggregated content after its founder Kevin Rose teamed up with his former rival, Reddit co-founder Alexis Ohanian, to buy it back.
U.S. stocks snap 3-session skid after Trump's tariff relief for automakers
Major U.S. stock indexes ended sharply higher on Wednesday,...
Major U.S. stock indexes ended sharply higher on Wednesday, after a one-month exemption from tariffs for automakers raised hopes that trade tensions can ease.
Meanwhile, U.S. government debt sold off — sending the benchmark 10-year yield up by the most in two weeks, to 4.26%.
The Dow Jones Industrial Average closed up by 485.60 points, or 1.1%, at 43,006.59, based on preliminary data. It had jumped by as much as 614.93 points to a session high of 43,135.92.
The S&P 500 finished up by 64.48 points, or 1.1%, at 5,842.63.
The Nasdaq Composite rose 267.57 points, or 1.5%, to finish at 18,552.73.
Oil ends at lowest price since September on tariff worries, OPEC+ output plans
Oil declined for a fourth straight session Wednesday, settling at its...
Oil declined for a fourth straight session Wednesday, settling at its lowest price since September, on prospects for a global trade war that could dent demand and plans by major oil producers to begin unwinding output cuts next month.
Official U.S. data showing a bigger-than-expected weekly rise in domestic crude inventories contributed to oil’s decline Wednesday.
West Texas Intermediate crude for April delivery fell $1.95, or 2.9%, to settle at $66.31 a barrel on the New York Mercantile Exchange.
May Brent crude the global benchmark, declined by $1.74, or nearly 2.5%, to $69.30 a barrel on ICE Futures Europe. Brent and WTI both marked their lowest settlements since Sept. 10, according to Dow Jones Market Data.
April gasoline shed 2.6% to $2.14 a gallon, while April heating oil lost 2% to $2.24 a gallon.
Natural gas for April delivery settled at $4.45 per million British thermal units, up 2.3%.
US liquefied natural gas exports fell slightly compared...
US liquefied natural gas exports fell slightly compared with previous months to 9.2 million short tons in February, preliminary LSEG data show. Europe received 82% of shipments, while volumes sent to Latin America more than doubled month over month to 617,300 short tons.
