US GOVERNMENT
Trump admin begins mass layoffs at Voice of America
President Trump's administration has initiated mass layoffs at Voice of America and other US-funded media, targeting the US Agency for Global Media. Many contractors, primarily non-US citizens, have been terminated, affecting various language services.
Is Elon Musk planning to use AI to run the US government? What you need to know
Elon Musk's plan to use AI for federal employee layoffs sparks controversy. Experts question the lack of testing, transparency, and potential biases of these AI systems. The U.S. government is also exploring AI to monitor foreign nationals' social media. Critics warn of accountability issues, loss of expertise, and the risks of rapid AI implementation without proper oversight.
Trump signs order to gut voice of America, other agencies
President Donald Trump signed an executive order on Friday to significantly reduce operations of federal agencies, including the Voice of America. The order targets seven entities, aiming to shrink bureaucracy and reduce operations to the legal minimum, following Trump's criticism of the Voice of America during his first term.
388 Indian nationals deported from US under Trump’s mass deportation, but exact numbers remain unclear
Since the inception of President Donald Trump's deportation policy, India has repatriated 388 nationals living illegally in the US. The nationality verification of these individuals is ongoing, with further deportations expected. The Indian government tackles illegal migration by strictly verifying citizenship and targeting migration facilitators.
US government shutdown in balance after top Democrat avoids fight
The US Senate appeared closer Friday to avoiding an economically damaging government funding shutdown after the Democrats' leader shied away from a major confrontation with President Donald Trump. A Democratic blockade of the bill and the ensuing chaos of the entire US government temporarily being out of funds would be "a gift" to Trump, he said.
Euro gains after German fiscal deal; dollar buoyed with US government shutdown likely averted
The euro gained on Friday after German parties agreed on a fiscal deal that boosts defence spending and infrastructure. The dollar weakened against the euro but strengthened against the Swiss franc and the yen. U.S. inflation expectations rose, hinting at the Federal Reserve's cautious approach to rate cuts. The pound weakened as the British economy contracted.
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Voice of America is ending contracts with big houses like AP, Reuters, AFP
Kari Lake, the former broadcaster turned Republican politician who was selected by President Donald Trump to run Voice of America (VOA), estimated the move would save $53 million.
Peter Schiff warns Bitcoin bubble burst will hit Americans hardest, cites U.S as home to the most powerful crypto lobby; here's what all he said
Economist Peter Schiff has warned that Americans will suffer the most if the Bitcoin bubble bursts due to their large investments. He believes the US government’s adoption of Bitcoin as a reserve asset is driven by powerful lobbying efforts and it could damage the US dollar. Schiff has long criticized Bitcoin as a bubble.
Think twice before you vandalize a Tesla property; Donald Trump vows to prosecute vandals as domestic terrorists, promises full force of US government response
Trump vows domestic terrorism charges for Tesla vandals, backing Musk's DOGE federal cuts. Protests erupt over anti-trans policies and corporate-political conflicts.
US shutdown threat piles pressure on government hit by Donald Trump cuts
The US government faced potential shutdown as Democrats threatened to block Trump's spending cuts. Senate Democrats, led by Chuck Schumer, remained divided over supporting the bill, which includes significant cuts proposed by Trump's Department of Government Efficiency, controversially led by Elon Musk.
Hundreds of federal offices could begin closing this summer at DOGE's behest, internal records show
Federal agencies will vacate hundreds of offices this summer, driven by Elon Musk's budget-cutting advisors aiming to save $500 million. The rapid lease cancellations have alarmed agencies and lawmakers, with some offices crucial to public services facing disruptions. Errors and hasty decisions add to the confusion.
While Musk tries to save US govt $1 trillion, China is struggling to spend enough cash
China is grappling with underspending its budget due to local officials' concerns over investment returns amidst efforts to address a sluggish economy. Premier Li Qiang announced measures to empower cities to support the ailing property market, crucial for boosting public-sector income and meeting growth targets. Achieving the 5% growth goal remains uncertain without addressing these spending issues.
Asian stocks retrace early losses as trade war escalates on new tariff threats; S&P 500 in correction zone
Asian equities rebounded and US equity futures climbed as a US government shutdown was averted. The S&P 500 hit a six-month low, and Treasuries held steady. Avoiding the shutdown eased market uncertainties, which were heightened by ongoing trade-war tensions under President Trump.
Big worry for Trump: U.S. budget deficit explodes in February, surpassing $1 trillion in record-breaking year-to-date surge, raising concerns over unprecedented fiscal challenges
The US budget deficit surpassed $1 trillion in just five months, with February's deficit reaching $307 billion. Government spending continues to exceed revenue, with a $1.15 trillion deficit for the year. Under former President Biden, the deficit increased dramatically. The Trump administration, focused on reducing waste, faces challenges with proposed tax cuts potentially worsening the deficit.
US stock market today: Market in fall again - Dow Jones, Nasdaq, S&P 500 drop amid Trump’s tariff threats, inflation data, and U.S. government shutdown concerns
US stock market today: Dow, S&P 500, and Nasdaq dropped as Trump's tariff threats and a looming U.S. government shutdown unsettled investors. The Dow fell 0.31% to 41,223.97, while the Nasdaq and S&P 500 also declined. Meanwhile, inflation data showed a stable Producer Price Index, sparking hopes for Federal Reserve rate cuts. However, uncertainty over a 200% tariff on EU wines and spirits and Senate Democrats blocking a spending bill added to market jitters. With volatility rising, investors are watching the Fed’s next move and political developments closely.
Ray Dalio issues dire warning, says America’s debt woes are spiralling, predicts shocking developments on the horizon
Ray Dalio, founder of Bridgewater Associates, predicts a looming US debt crisis with a dangerous supply-demand imbalance. He warns that the national debt, currently at $36.2 trillion, and a deficit projected at 7.2% of GDP, could force drastic measures such as debt restructuring and foreign pressure to purchase US debt, potentially leading to international economic disputes.
Why Elon Musk-led DOGE has cancelled more than 200,000 US government credit cards
Elon Musk-led Department of Government Efficiency (DOGE) has cancelled over 200,000 federal government credit cards in an effort to curb waste and fraud within the federal government. DOGE recommended mass layoffs in the federal government as a means to eliminate $2 trillion annually in funding from the US agencies. The cards were deactivated following an audit showing they were unused or unneeded.
U.S government heading for a shutdown beginning at 11:59 p.m. on Friday; here's what you need to know and how it will affect Americans
Senate Democrats are unlikely to support the House Republican-approved government funding bill, risking a potential shutdown at 11:59 p.m. on Friday. Senate Minority Leader Chuck Schumer accuses Republicans of partisanship, pushing for a clean continuing resolution through April 11. House Speaker Mike Johnson warns Democrats will be responsible if the shutdown occurs.
US weekly jobless claims fall amid labor market stability
Initial unemployment claims fell by 2,000 to 220,000 last week, though sharp government spending cuts and the trade war pose risks to labor market stability. Federal worker layoffs and contractor impacts have increased claims, while policy uncertainty undermines business confidence and hiring.
US macro data has not deteriorated, but market falling in anticipation of a decline: Anurag Singh
Anurag Singh from Ansid Capital notes that while US companies are exceeding Q4 expectations, their cautious guidance for upcoming quarters is causing market corrections. Although inflation worries are easing, recessionary fears persist due to deteriorating macro data like GDP growth and employment. The market awaits clarity on potential Fed actions amid economic uncertainty.
Trump says TikTok deal is in the works: Here's where things stand with the company
Questions about the fate of the popular video sharing app have continued to linger since a law requiring its China-based parent company to divest or face a ban took effect on Jan. 19.
US Education Department to cut half its staff as Trump eyes elimination
The U.S. Department of Education announced layoffs for nearly half of its staff as part of President Trump's wider effort to downsize the government. Secretary of Education Linda McMahon indicated this move aligns with Trump's mandate to dismantle the department, leaving it with 2,183 workers from a previous 4,133.
Will travel be affected by the US government shutdown? Here's what you need to know about flights, cruises, passports, and visa services
As a government shutdown could generate significant political and economic ripples, here’s what travelers heading for spring vacations can expect.
US judge says Musk's DOGE must release records on operations run in 'secrecy'
A federal judge ordered the Trump administration to disclose records from the Department of Government Efficiency, led by Elon Musk, citing its significant authority and secrecy. The judge determined the agency falls under the Freedom of Information Act, marking a win for transparency advocates seeking insights into its role in widespread federal workforce changes.
Is Elon Musk and Marco Rubio’s relationship beyond repair? Inside the bitter cabinet battle in front of Donald Trump that rocked Washington
Elon Musk, the billionaire leader of the DOGE cost-cutting initiative, and Secretary of State Marco Rubio appeared to move past their recent heated exchange during a White House meeting by showcasing unity over the weekend. Both attended a dinner with former President Donald Trump at Mar-a-Lago in Florida, where they reportedly smoothed over their differences.
Trump says working to end US government 'war on Crypto'
President Donald Trump announced the creation of a 'Strategic Bitcoin Reserve' to end the government's 'war on crypto' initiated under former President Joe Biden. He criticized Biden's actions against cryptocurrencies and emphasized his plan to make America a Bitcoin superpower. The executive order directs federal agencies to explore accumulating Bitcoin without burdening taxpayers and manage other digital assets.
US likely to ban Chinese app DeepSeek from government devices: Report
US officials are worried about DeepSeek's handling of user data, which the company says it stores in servers located in China, the report said.
What is a strategic bitcoin reserve and why did Trump establish it? Story in 10 points
White House Crypto Summit: US President Donald Trump established a Strategic Bitcoin Reserve and a stockpile of other digital assets through an executive order on Thursday, shortly before hosting a crypto summit at the White House. The event is expected to serve as a stage for Trump to formally announce his plans to build a strategic reserve containing bitcoin and four other cryptocurrencies.
US to levy fees on China-linked ships, push allies to do likewise, draft executive order says
The U.S. plans to impose fees on ships docking at its ports if they are part of fleets with Chinese-built or Chinese-flagged vessels. This initiative aims to boost domestic shipbuilding and reduce China's influence in the global shipping industry. The order will also push allies to adopt similar measures or face retaliation, targeting major carriers like MSC and CMA CGM.
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