The IRS has begun dismissing over 6,000 employees, raising concerns about the impact on tax season, collections, enforcement, and antiquated data systems.
Published on: February 21, 2025, 12:01 PM UTC
US stocks fell on Thursday as investors analyzed Walmart's (WMT) outlook and assessed the impact of President Trump's proposed tariffs and policy shifts. The Dow Jones Industrial Average (^DJI) plunged around 450 points, or roughly 1%. The S&P 500 (^GSPC) lost 0.5%, retreating after its second consecutive record close on Wednesday, while the tech-laden Nasdaq Composite (^IXIC) also shed about 0.5%.
Published on: February 21, 2025, 01:02 AM UTC
South Korea asks US to exempt it from Steel, aluminium tariffs.
Published on: February 21, 2025, 01:01 AM UTC
Delta Air Lines has reportedly offered $30,000 to passengers on a Minneapolis-to-Toronto flight that crash-landed. The payment is not tied to any strings and is in accordance with international treaties governing flights and incidents.
Published on: February 21, 2025, 12:03 AM UTC
New York Governor Kathy Hochul won't remove Mayor Eric Adams, but will impose restrictions on his power, including a deputy inspector general and empowering non-mayoral officials to sue the federal government.
Published on: February 20, 2025, 11:06 PM UTC
Billionaire Elon Musk says he is considering an audit of the Federal Reserve after calling for more scrutiny of the central bank in the past.
Published on: February 20, 2025, 11:00 PM UTC
French President Macron calls for increased European military autonomy and joint debt funding for defense, in response to US demands. He warns of a "new era" with higher military investment potentially impacting purchasing power. Macron highlights the need for innovative European spending on defense, praises Trump's strategy of "uncertainty" with Russia, and confirms an upcoming visit to America.
Published on: February 20, 2025, 08:01 PM UTC
Defense Secretary Pete Hegseth plans to reduce projected US military spending by 8% over the next five years, with some exceptions including border enforcement, nuclear weapons modernization, and air force drone programs.
Published on: February 20, 2025, 08:00 PM UTC
Signage for the Consumer Financial Protection Bureau, a target of the Trump administration, was removed overnight. The agency, established after the 2008 financial crisis, has been criticized by conservatives and financial firms.
Published on: February 20, 2025, 07:00 PM UTC
The Trump administration is reviewing whether to rescind $4 billion awarded to California's High-Speed Rail project, which has seen its costs rise sharply.
Published on: February 20, 2025, 06:00 PM UTC