Nearly 90% of Consumer Financial Protection Bureau cut as Trump’s government downsizing continues
Roughly 1,500 employees are slated to be cut, leaving around 200 people, according to an administration official who spoke on condition of anonymity.
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Google’s digital ad network ruled an illegal monopoly, joining its search engine in penalty box
Google has been branded an abusive monopolist by a federal judge for the second time in less than a year, this time for illegally exploiting some of its online marketing technology.
Trump administration to end IRS Direct File program for free tax filing, sources say
The program developed during Joe Biden’s presidency was credited by some with making tax filing easy, fast and economical, while others said it was frequently difficult to use.
E-commerce sites Temu, Shein say they’re raising prices due to tariffs
Temu, which is owned by the Chinese e-commerce company PDD Holdings, and Shein, which is now based in Singapore, said in separate but nearly identical notices that their operating expenses have gone up “due to recent changes in global trade rules and tariffs.”
Meta CEO Zuckerberg defends acquisitions as he wraps up his testimony in antitrust case
Meta CEO Mark Zuckerberg testified in federal court on Wednesday that he bought Instagram and WhatsApp because he saw value in the companies—not to take out competitors, as the FCC alleges.
Rob Gronkowski taking on entertainment role in ‘Snake Pit’ during Indy 500
The former NFL tight end will serve as the grand marshal for the “Snake Pit,” the infield party that takes place during “The Greatest Spectacle in Racing.”
Powell says Fed can wait on any interest rate moves
Federal Reserve Chair Jerome Powell quoted Ferris Bueller during a speech about policy changes to the Economic Club of Chicago on Wednesday.
California to sue in effort to stop Trump from imposing sweeping tariffs
The lawsuit will argue that enacting such tariffs requires approval from Congress.
Thousands of users report problems with music streaming app Spotify
The popular audio streamer appeared to be experiencing widespread technical issues Wednesday morning, with users having difficulty loading both the app and website, playing or hearing songs and using its search function.
Meta CEO Zuckerberg considered spinning off Instagram in 2018 over antitrust worries, email says
The email was shown Tuesday on the second day of an antitrust trial alleging Meta illegally monopolized the social media market.
Agencies ordered to release billions of frozen dollars aimed at climate, infrastructure projects
U.S. District Judge Mary McElroy, who was appointed by President Donald Trump, sided with conservation and nonprofit groups.
As Trump considers auto tariffs pause, parts exemptions could be key for industry
Though Trump says his tariffs are intended to bolster U.S. auto manufacturing, automakers aren’t able to reconfigure their sourcing in short periods of time, experts say.
Roster limit changes not offered in latest filing on $2.8B NCAA lawsuit settlement
Attorneys offered only a few tweaks to the sprawling deal announced last year that will clear the way for schools to begin sharing millions in revenue with their athletes.
Nvidia plans to manufacture AI chips in United States for first time
The tech giant said it has commissioned more than one million square feet of manufacturing space to build and test its specialized Blackwell chips.
Meta faces historic antitrust trial that could force it to break off Instagram, WhatsApp
Meta isn’t the only technology company in the sights of federal antitrust regulators, Google and Amazon face their own cases.
Pfizer ends development of potential pill obesity treatment
Pfizer had been hoping the once-daily pill treatment would give it an edge over leading weight-loss treatments like Zepbound from Eli Lilly and Co. and Novo Nordisk’s Wegovy, which are injectable.
Commerce chief: New electronics tariff exemptions are temporary, chip tariffs coming
Sparing electronics was expected to benefit big tech companies like Apple and Samsung and chip makers like Nvidia, though the uncertainty of future tariffs may rein in an anticipated tech stock rally on Monday.
Trump wants Congress to end changing of clocks, keep the country on daylight saving time
The president’s post came a day after a Senate panel heard testimony examining whether to set one time all year instead of shifting.
China hits back, will raise tariffs on American goods from 84% to 125%
The United States’ top imports from China, meanwhile, include electronics such as computers and cell phones, industrial equipment and toys.
Potential impact of trade war on jobs, inflation sends consumer sentiment plunging
The share of respondents expecting unemployment to rise in the coming months increased for the fifth straight month and is now the highest since 2009 during the Great Recession.