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Bessent: No Price Would Make Iran War Unaffordable
U.S. Treasury Secretary Scott Bessent said "absolutely not" when asked Thursday whether there was any price point at which he would tell President Donald Trump the war with Iran had become unaffordable.Bessent's comments came as oil prices surged above $100 a barrel amid...
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WH Weighs Waiving Shipping Law to Cut Fuel Costs
The White House said it was considering waiving the Jones Act, a century old statute that promotes American made vessels, as it grapples with increased fuel prices during the conflict with Iran.
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Iran's UN Envoy: Not Closing Strait, but Have Right to Secure It
Iran's U.N. ambassador said on Thursday Tehran was not going to close the Strait of Hormuz, but added that it was Iran's right to preserve the security of the key shipping route.Amir Saeid Iravani made his comments to reporters at the United Nations when asked about remarks...
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Trump Demands Immediate Rate Cuts, Scolds Fed Chair
President Donald Trump on Thursday renewed his pressure campaign on Federal Reserve Chair Jerome Powell, demanding the central bank reduce interest rates immediately rather than wait for its next scheduled policy meeting.
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Stocks Sink 1.5% as Crude Oil Hits $100 a Barrel
U.S. stocks fell Thursday, with the S&P 500 notching its biggest three-day percentage drop in a month as Iranian strikes on two oil tankers sent crude prices surging toward $100 per barrel, exacerbating already heightened inflation fears and sending investors fleeing equity...
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Navy Could Escort Vessels in Strait of Hormuz With Intl. Coalition, Bessent Says
The U.S. Navy, perhaps with an international coalition, will escort vessels through the Strait of Hormuz when it is militarily possible, U.S. Treasury Secretary Scott Bessent told Sky News in an interview on Thursday."My belief, that as soon as it is militarily possible,...
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Gold Giant Bundesbank: The Open Vote of No Confidence
The German Bundesbank hoards the second-largest gold reserves among central banks. The precious metal serves as an insurance policy for both states and private individuals.
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Court Revives Most of California Child Safety Law
A federal appeals court on Thursday threw out most of an injunction that had blocked California from enforcing a state law meant to shield children from social media and other online content that could harm them mentally or physically.
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Sen. Warren Presses Amazon on Algorithmic Pricing for Schools
Democrat Sen. Elizabeth Warren of Massachusetts is asking Amazon CEO Andy Jassy to provide details on its algorithmic pricing and contracting practices for the company's procurement platform after an advocacy group said some schools and local governments paid more for...
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Senate Passes Bipartisan Housing Affordability Bill
The Senate passed a broad bill on Thursday to make U.S. housing more accessible and affordable, a rare bipartisan effort in Congress to address a growing national problem. The bill, which passed 89-10, would reduce regulations...
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Mortgage Rates Jump Most in a Year on Iran War Inflation Fears
U.S. mortgage rates posted their biggest weekly jump in a year as inflation fears tied to the war with Iran cloud the spring housing outlook, Bloomberg reports.
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Trump Rescinds the EV Fuel Economy Math Rule That Was a Lie!
For years, Washington sold Americans a fantasy wrapped in a window sticker. We all saw huge MPGe numbers on window stickers, but they just seemed unreal. Because they are!
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US Sues California Over Zero Emission Vehicle, Greenhouse Gas Rules
The Trump administration on Thursday sued the state of California, claiming the state's zero-emission vehicle and tailpipe greenhouse gas emissions rules are illegal and preempted by federal law. The U.S. Transportation Department sued the California Air Resources Board in...
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Wall St Advisers Help Firms Navigate Iran War Risks
The day before U.S.-Israeli air strikes killed Iran's Supreme Leader on Saturday February 28, many Wall Street firms were expecting military action thanks to a growing industry of ex-military and national security advisors who were warning the signs were clear.
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'Peace Through Strength' Ends 45-Year Iran Stalemate
"Operation Epic Fury" is not Iraq 2.0. It's an attempt to lay closure to a 47-year stalemate . . . before it becomes something far worse. Sometimes the choice is between prolonged instability and decisive prevention.
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BlackRock CEO Fink: Iran War Will Not Derail Economy
BlackRock Chairman and CEO Larry Fink said the United States' war with Iran is unlikely to cause lasting economic damage, even as oil prices surge amid the conflict, the New York Post reports.
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US Applications for Unemployment Benefits Inch Down to 213K Amid Stable Layoffs
U.S. applications for unemployment benefits inched down modestly last week as layoffs remain at historically healthy levels despite a weakening job market.
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Ukrainian Drones Hit Oil Hub in Russia's Krasnodar Region
Ukraine struck an oil pumping station in Russia's Krasnodar region, an official from Ukraine's SBU security service said on Thursday, the latest target of a campaign by Kyiv to attack Russian strategic infrastructure. The Tikhoretsk hub is one of the largest oil points in...
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Trump Admin Targets China in New Trade Probe Ahead of Xi Summit
The Trump administration has launched sweeping new trade investigations aimed at China's manufacturing dominance and other countries' industrial overproduction, a move officials say is designed to protect American workers and rebuild the nation's manufacturing base.U.S....
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US Energy Chief: Oil Unlikely to Hit $200 a Barrel
U.S. Energy Secretary Chris Wright said Thursday global oil prices are unlikely to hit $200 a barrel even as crude tankers remained stalled in the Strait of Hormuz as a result of the U.S. and Israeli war with Iran.
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Ships Near Hormuz Signal China Links to Avoid Iran Attacks
Some commercial ships near or in the Strait of Hormuz and Persian Gulf have declared themselves as China-linked since the Iran war began, marine traffic data show, as their operators apparently try to reduce risks of being targeted in attacks.
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Energy Sec.: US Military 'Not Ready' to Escort Tankers in Hormuz Strait
The U.S. military is currently "not ready" to escort tankers through the critical Strait of Hormuz because all its assets are focused on striking Iran, Energy Secretary Chris Wright said Thursday.
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Stocks Sink With No Clear End to the Iran War
With no clear end in sight, the war with Iran is sending oil prices back to $100 per barrel and stocks sinking worldwide Thursday.
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Pentagon CTO: 'No Chance' of Renewed Anthropic Negotiations
Pentagon Chief Technology Officer Emil Michael on Thursday ruled out negotiations with Anthropic after the agency labeled the AI lab a supply-chain risk in a dispute over restrictions on how the U.S. military can use its technology.
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US Trade Deficit Narrows as Exports Jump to Record High
The U.S. trade deficit narrowed sharply in January as exports surged to a record high and imports fell, a trend that if sustained, could see trade contributing to economic growth in the first quarter.