Senate GOP frets as Wall Street takes dip over tariffs, talk of recession
Senate Republicans expressed new concerns about the economy on Monday after Wall Street had one of the worst days in years of comments from President Trump that did not rule out the potential for a trade war and a recession. Nasdaq Composite had its worst day in three years, finishing with a loss of 4%, […]
Larry Summers: Odds of a recession 'close to 50/50'
Former Treasury Secretary Larry Summers said Monday that the potential for a recession was “nearly 50/50.” “I said [Kasie Hunt] @CNN I think there is a real possibility of a recession today,” Summers I said in a social platform thread x. “I would have said a few months ago that a recession is really unlikely […]
Democrats release their own stopgap funding bill as House GOP plows forward
Congressional Democrats have rolled out their own short-term funding patch to help the government continue to run beyond the closure deadline on Friday. Republicans in the home have moved forward with Trump's plans in the face of solid opposition from the other side of the aisle. The bill will continue to fund the government through […]
Cargo ship hits a tanker in fiery crash off England
The freighter struck tankers on Monday in a violent crash in the North Sea off the coast of eastern England, causing fuel to flow into local waters. The tanker, named MV Stena Immaculate, carries petroleum and chemicals, features a US flag, close to Grimsby's port and was at the anchor early Monday. The Associated Press […]
Ontario premier says he needs 'to sit down as quickly as possible' with Trump on tariffs
Ontario Premier Doug Ford said Monday that he “needs to sit as soon as possible” with President Trump on tariffs. “We're already seeing inflation happening, but it's not necessary. We don't need to do this. We can have two of the most prosperous countries in the world. Ford told Nichole Berlie of NewsNation. Stock markets […]
21 House Republicans ask leadership to limit changes to energy tax credits in reconciliation
A group of 21 House Republicans are asking the key committee to limit changes to the energy tax credit passed under Democrats as the GOP aims to overhaul US tax laws. It's new Sunday lettera group of almost moderate Republicans sought changes to the energy tax credit should be “target and practical.” “The proposed tax […]
Former USAID employees on cuts: 'We are going to put lives in jeopardy'
Two former US Agency for International Development (USAID), who was fired last month, said on Monday that Marco Rubio, whose spending cuts had been announced to “risk his life.” “When we say we're going to cut 83% of USAID's programs, I think we're trying to put our lives at risk when we're talking about life-saving […]
Trump economic adviser: 'First quarter is going to squeak into the positive category'
“The first quarter will be squealing in a positive category,” said Kevin Hassett, director of the National Economic Council. Stocks fell sharply on Monday in part in response to the growing trade war caused by the Trump administration, but Hassett said he was not worried about the recession. “[I’d] Joe should be very careful about […]
Musk blames 'massive cyberattack' for X outage
Elon Musk said his social media platform X was targeting “massive cyberattacks” on Monday, prompting the suspension of thousands of users. “There was a massive cyberattack on X,” Musk wrote on the platform Monday afternoon. “We get attacked every day, but this has been done with a lot of resources. There is a large, coordinated […]
Canada slaps electricity tariffs on New York, Minnesota, Michigan
The Ontario government has applied a 25% extra charge on electricity exports to three US provinces starting Monday in response to US tariffs in Canada. The additional charge will affect the electricity sales of 1.5 million homes and businesses in Michigan, Minnesota and New York, the Ontario government said. In total, it costs up to […]