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Trump meets Democrats without breakthrough on imminent shutdown
WASHINGTON (AFP) -- A White House meeting Monday with top Republican and Democratic congressional leaders yielded no budget breakthrough, with both sides trading blame less than 36 hours before government funding runs out. "Large differences" remained between the two sides, top Sen. Democrat Chuck Schumer told reporters after the last-gasp meeting hosted by President Donald Trump. Schumer, whose party is in the minority, said "it's up to the Republicans whether they want a shutdown or not," addi
Sept. 30, 2025 -
G7 weighs price floors for rare earths to counter China's dominance
BRUSSELS/TORONTO (Reuters) -- Group of Seven members and the European Union are considering price floors to promote rare earth production, as well as taxes on some Chinese exports to incentivize investment, four sources with knowledge of the discussions told Reuters. Rare earths are difficult-to-extract metallic elements critical to the manufacture of products including cell phones, cars and high-tech weapons. China, the world's leading producer of rare earths, surprised buyers in April when it
Sept. 25, 2025 -
Powell signals Fed to move slowly on interest rate cuts
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials this week who have called for a more urgent approach. In remarks in Providence, Rhode Island, Powell noted that there are risks to both of the Fed’s goals of seeking maximum employment and stable prices. But with the unemployment rate rising, he noted, the Fed agreed to cut its key rate last week. Yet he did not signal any further
Sept. 24, 2025 -
OpenAI, Oracle, Softbank show off Stargate AI data center
ABILENE, Texas (AP) — The afternoon sun was so hot that OpenAI CEO Sam Altman traded his usual crewneck sweater for a T-shirt on the last legs of a Tuesday visit to the massive Stargate artificial intelligence data center complex that will power the future of ChatGPT. OpenAI announced Tuesday that its flagship AI data center in Texas will be joined by five others around the US as the ChatGPT maker aims to make good on the $500 billion infrastructure investment promoted by President Donald Trump
Sept. 24, 2025 -
Trump proposes new H-1B visa process favoring higher-skilled, better-paid workers
WASHINGTON (Reuters) -- The Trump administration released a proposal on Tuesday that would rework the H-1B visa selection process to favor higher-skilled and better-paid workers, according to a related Federal Register notice, a move that follows a White House proclamation on Friday introducing a $100,000 fee for the visas. The new process, if finalized, would give heavier weight to applications by employers who pay high wages if annual requests for the visas exceed the statutory limit of 85,000
Sept. 24, 2025 -
'TikTok deal nears, with Oracle, Silver Lake among investors'
WASHINGTON (Reuters) -- President Donald Trump this week will declare that a deal to divest TikTok's US operations from its Chinese owner ByteDance will meet requirements set out in a 2024 law, a White House official said Monday, adding that investors will include Oracle and private equity firm Silver Lake. ByteDance will own less than 20 percent while TikTok US will be controlled by a mix of its existing US and global firms as well as a significant number of new investors who have no affiliatio
Sept. 23, 2025 -
Trump's new visa policy inspires sour response from tech firms
NEW YORK/BENGALURU (Reuters) -- US President Donald Trump's new visa fees for foreign workers drew widespread condemnation from technology executives, entrepreneurs and investors across social media, with just a few outliers, as many saw it as a major blow to a sector that contributed millions to his re-election campaign. Technology executives and investors said the new fees could add millions of dollars in costs for companies and disproportionately hurt startups, which may not be able to afford
Sept. 23, 2025 -
Nvidia to invest up to $100b in OpenAI, linking two AI titans
Nvidia will invest up to $100 billion in OpenAI and supply it with data center chips, the companies said Monday, marking a tie-up between two of the highest-profile players in the global artificial intelligence race. The move underscores the increasingly overlapping interests of the various tech giants developing advanced AI systems. The deal gives chipmaker Nvidia a financial stake in the world's most prominent AI company, which is already an important customer. At the same time, the investment
Sept. 23, 2025 -
Independence of central banks tested by Trump attacks on US Fed
FRANKFURT, Germany (AFP) -- For months, US President Donald Trump has been piling pressure on the Federal Reserve over delayed cuts to interest rates, casting the institution's independence into doubt. Trump's recent attacks have caused quite a stir as central bank independence is considered a key factor in protecting price stability and investor confidence in a country's economy. Trump has repeatedly called out Fed chair Jerome Powell for not lowering interest rates quickly enough to support th
Sept. 21, 2025 -
TikTok deal gives Americans 6 of 7 board seats: White House
WASHINGTON (AP) — An emerging TikTok deal with China will ensure that US companies control the algorithm that powers the app's video feed and Americans will hold a majority of seats on a board overseeing US operations, the White House said Saturday. A central question to the tug of war between Washington and Beijing has been whether the popular social video platform would keep its algorithm after the potential divestment of Chinese parent company ByteDance. Congress passed legislation calling fo
Sept. 21, 2025 -
Trump's 'inconsistent, regressive' tariff policy will hurt US most: Anne Krueger
US President Donald Trump's inconsistent and regressive tariff policy could hurt the United States the most and undermine its status as a global hegemon, a former senior International Monetary Fund official has said. Anne Krueger, former IMF deputy managing director and former World Bank chief economist, made the remarks during a meeting with reporters in Seoul on Thursday, emphasizing the need for South Korea and other countries to maintain open economies to ensure future growth. "In the short
Sept. 19, 2025 -
Meta unveils AI-powered smart glasses
MENLO PARK, California (Reuters) -- Meta on Wednesday launched $499 Oakley-branded smart glasses for athletes that come with a centered action camera, louder speakers and better water resistance, expanding its wearables beyond the Ray-Ban line that has been an early AI-era hit. Dubbed Oakley Meta Vanguard, the glasses integrate with Meta's AI app and fitness platforms such as Garmin and Strava to deliver real-time training stats and post-workout summaries. They will come with nine hours of batte
Sept. 18, 2025 -
US Fed announces rate cut for 1st time this year, signals 2 more ahead
The US Federal Reserve on Wednesday lowered its benchmark interest rate by a quarter percentage point in the first reduction since December, and signaled two more cuts this year, amid mounting pressure from President Donald Trump to bring it down to help boost the economy. Following the two-day Federal Open Market Committee meeting, the central bank decided to lower the key rate to the 4-4.25 percent range. The cut put the gap between the key rates of South Korea and the United States at up to 1
Sept. 18, 2025 -
US nearly doubles application fee for visa waiver program
The United States will raise the application fee for its electronic travel authorization required for short-term travelers under its visa waiver program starting later this month, the US Embassy in Seoul said Wednesday. The fee for the Electronic System for Travel Authorization will increase from $21 to $40, effective Sept. 30, the embassy said in a posting on X. The measure comes as US authorities tighten visa policies for foreigners, including international students, amid the Trump administrat
Sept. 17, 2025 -
Trump sues The New York Times for defamation, seeks $15b
US President Donald Trump sued the New York Times, four of its reporters, and publisher Penguin Random House for at least $15 billion Monday, claiming defamation and libel, and citing reputational damage, a Florida court filing showed. Trump's suit cites a series of New York Times articles, one an editorial prior to the 2024 presidential election, which said he was unfit for office, and a 2024 book published by Penguin titled "Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Cre
Sept. 16, 2025