Billions
Every summer, Cheryl travels to Iowa, from her home in St Kitts. She rents a three-bedroom house for her and her US-based adult children. She usually rents a car, too, and the family go out for dinners and explore local attractions. Cheryl typically spends $10,000 on the trip. Not this year. The Trump administration’s high-profile […]
(Bloomberg) — The US economy is set to lose billions of dollars in revenue in 2025 from a pullback in foreign tourism and boycotts of American products, adding to a growing list of headwinds keeping recession risk elevated. Arrivals of non-citizens to the US by plane dropped almost 10% in March from a year earlier, […]
The United States is cutting almost all its spending on aid. The biggest loser will be Africa. For years, sub-Saharan Africa has received more U.S. aid money than any other region — except for 2022 and 2023, when the United States came to Ukraine’s aid after the Russian invasion. In 2024, $12.7 billion of $41 […]
California Governor Gavin Newsom has asked the US federal government for $40 billion (£31.6b) in funds to help rebuild areas of Los Angeles devastated by January fires. Newsom sent the request to congressional leaders in a letter on Friday. He said the funds would help both immediate and long-term recovery work. “I’m asking Congress to […]
The US postmaster general, Louis DeJoy, said on Tuesday he had asked the US Postal Service (USPS) governing board to identify his successor. In November, DeJoy warned that the post office, which has lost more than $100bn since 2007, must continue to cut costs or will remain on the path to either a “government bailout […]
Trump vows to cut billions of dollars from US defence spending  Financial Times Source link
(Bloomberg) — The Biden administration is poised to finalize billions of dollars in financing for electric-vehicle maker Rivian Automotive Inc (RIVN). and hydrogen manufacturer Plug Power Inc (PLUG). before the Trump administration . . .
Since 2020, the number of Black people who own businesses has increased. An estimated 161,031 Black-owned businesses were in operation in 2022, an increase from 140,918Â in 2020, according to a survey. While the growth of Black business owners is inspiring, it is small in comparison to some of their counterparts. An estimated 12.4% of . […]
A hacker has been sentenced to five years in a US prison for laundering the proceeds of one of the biggest ever cryptocurrency thefts. Ilya Lichtenstein pleaded guilty last year in the case involving the Bitfinex cryptocurrency exchange being hacked in 2016 and the theft of almost 120,000 bitcoin. He laundered the stolen cryptocurrency with […]
The United States’s blossoming emergence as a clean energy superpower could be stopped in its tracks by Donald Trump, further empowering Chinese leadership and forfeiting tens of billions of dollars of investment to other countries, according to a new report. Trump’s promise to repeal major climate policies passed during Joe Biden’s presidency threatens to push […]