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White House Deputy Chief of Staff Stephen Miller speaks with members of the press outside the West Wing of the White House in Washington, Aug. 29, 2025.Andrew Caballero-Reynolds | AFP | Getty ImagesThe U.S. national debt grew past 100% of gross domestic product last month, putting the country on the path to beat the record of 106% of GDP set in 1946, coming out of World War II. That record is on pace to shatter around 2029, just as Donald Trump’s presidency is ending, the nonpartisan Congressional Budget Office estimates. Deputy White House Chief of Staff Stephen Miller has identified a…
Oil prices fell Wednesday after Secretary of State Marco Rubio said the U.S. will give talks with Iran “every chance to succeed.” West Texas Intermediate futures tumbled more than 5% to close at $88.68 per barrel. International benchmark Brent oil also lost more than 5% to settle at $94.29 per barrel. Speaking at a White House Cabinet meeting, Rubio said talks with Iran have made some progress. President Donald Trump prefers diplomacy but has other options available if that doesn’t work, Rubio said, likely a reference to renewed military strikes. “The bottom line is that we prefer the negotiated diplomatic…
Adyen stock falls 3% as CFO Tandowsky steps down in August Source link
The CNBC Investing Club on Wednesday held its May Monthly Meeting, featuring Jim Cramer and Jeff Marks, director of portfolio analysis, covering all 33 stocks in the portfolio. Jim offered his unvarnished takes on the stocks and spotlighted his four favorite names for new Club members to buy. Jeff also provided an in-depth look at the two newest positions and why we initiated positions. One theme Jim emphasized was the importance of diversification, even in moments where one dominant theme drives the market. Right now, artificial intelligence is winning the day. We have plenty of AI winners. But as long-term investors, our…
Labour mayor Burnham and former minister Streeting were responding to the former PM’s 5,600-word essay. Source link
The so-called K-shaped economy is now linked to “a remarkable increase in food insecurity,” according to a new blog post by the Federal Reserve Bank of New York.Large segments of the population are facing high levels of financial strain, according to a post published on Wednesday, based on data from the Survey of Consumer Expectations.Among this group, lower- and middle-income households have been hardest hit by prolonged inflation. A greater share of their spending is allocated to goods that have seen prices soar since the pandemic, such as housing, food and utilities, causing them to cut back on groceries, the researchers found. A higher cost of…
Meta shares rise over on premium subscription rollout Source link
SpaceX has won a lucrative contract to provide the US military with a means of distributing space-based sensing and targeting data, forming the “backbone” of a rearchitected network after separate Pentagon initiatives stalled, officials announced Tuesday. Space Systems Command, the Space Force’s primary procurement and acquisition center, announced the $2.29 billion firm-fixed-price agreement, confirming long-simmering reports that the Pentagon was likely to tap SpaceX for a new communications network in low-Earth orbit. SpaceX’s selection for the Space Data Network (SDN) Backbone contract “accelerates the delivery of a resilient, high-speed communications network in space,” Space Systems Command said in a statement.…
U.S. President Donald Trump speaks during a cabinet meeting in the Cabinet Room at the White House, in Washington, D.C., U.S., May 27, 2026. Evan Vucci | ReutersPresident Donald Trump on Wednesday poured cold water on the prospect of Iran transferring its store of highly enriched uranium to Russia or China as part of any deal to end the war with the U.S.”No, I wouldn’t be comfortable” with that arrangement, Trump said during a Cabinet meeting at the White House.The Kremlin, which has the world’s largest stockpile of nuclear weapons, has previously said it would accept Iran’s enriched uranium to…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The former leader of Northern Ireland’s Democratic Unionist Party asked a woman who accuses him of sexual assault “for forgiveness”, the prosecution has claimed, at the start of his trial on Wednesday.Sir Jeffrey Donaldson, who was in attendance in Newry Crown Court, is accused of 18 historic sex abuse charges involving two alleged child victims.Donaldson, 63, denies one charge of rape, four counts of gross indecency and 13 counts of indecent assault against two women between 1985 and 2008.The court heard that…