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An effort to ramp up U.S. weapons production and build more ships, planes and drones will require a massive upfront investment, President Donald Trump's budget director told a House committee Wednesday. The testimony from Russell Vought jump-starts the White House's push to increase defense spending to nearly $1.5 trillion in the next budget year, up from nearly $1 trillion this year, while cutting health research, heating assistance and scores of other domestic programs by about 10% overall. Such cuts do not cover mandatory spending, which includes such programs as Social Secur

Trump's budget director defends White House plan for massive boost in military spending

Las Vegas business owners, drivers lament ongoing impact of high gas prices

Two Sigma, D.E. Shaw join Wall Street push against US SEC's bid to relax quarterly reporting

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Kremlin says US has rejected its proposal that Russia take Iranian uranium stocks

The Kremlin's spokesman was quoted as saying on Wednesday that the United States had rejected its proposal that Russia take all of Iran's enriched uranium out of the country as a way to help resolve the Middle East conflict.Russia first proposed last June that it take control of Iran's uranium stock, but no action was taken. According to news reports, Russia issued the proposal again this week."Russia was prepared to accept Iran's enriched uranium on its territory," state news agency RIA said Kremlin spokesman Dmitry Peskov told the Indian television channel India Today."This would be a good

Iran offers proposal allowing ships to exit Oman side of Hormuz free of attack, source says

Bessent says he is optimistic Warsh will be Fed chair 'on time'

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White House has no opinion on potential United Airlines deal for American Airlines

The Trump administration does not have an opinion on reports that United Airlines was considering merging with rival American Airlines, White House press secretary Karoline Leavitt told reporters on Wednesday."I know it's an idea that has been proposed by private industry, but it's not something the president or the White House have an opinion on or are weighing in on," Leavitt said.United Airlines CEO Scott Kirby pitched the potential for merging with American Airlines in a meeting with U.S. President Donald Trump in late February, two sources said, raising the prospect of an industry-reshap

Colombia court orders Petro government to return emergency funds

Netherlands to spend nearly $300 million euros on drones for Ukraine

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‘Textbook blasphemy’: Notre Dame students surprised and dismayed by Trump’s feud with Pope Leo

At one of the United States’ best-known Catholic institutions, students were siding with Pope Leo XIV over President Donald Trump in the wake of Trump’s clash with the pontiff over the Iran war and raising concerns about his recent social media post seemingly depicting himself as Jesus.“I found it incredibly disrespectful — especially the AI image of him portraying himself as Jesus,” said Sarah Jones, an undergraduate student from North Carolina who considers herself a moderate independent.Jones said it was “weird” that Trump deleted the post and claimed he thought the image port

Wall Street sank on Iran war fears. Now it’s surging. Here’s why

US stocks have been on a two-week rally that has helped the S&P 500 and Nasdaq erase all losses tied to the outbreak of the war with Iran.The S&P 500 has risen nine out of the past 10 trading sessions, gaining 10% across that period and putting the index up more than 1% since the US-Israeli war with Iran began at the end of February.The S&P on Wednesday rose 0.5% and hit a fresh intraday record high of 7,003.82 points, surpassing its last record set in January. It’s a stark shift from just a few weeks ago, when the index was down roughly 9% since its January peak.What’s changed? Investors

James Talarico says he’s raised $27 million in first three months of 2026, part of Democratic fundraising surge

Trump says he’ll fire Powell next month if he stays in his role at the Fed

Election|Finance|Political|US|World

Trump recalls how Ruth Bader Ginsburg’s death affected the Supreme Court as he discusses Samuel Alito’s future

President Donald Trump has considered the possibility that conservative Justice Samuel Alito might step down later this year, giving him the ability to nominate a fourth justice to the Supreme Court.Trump said he has a list of potential candidates in mind if a seat opens on the nine-justice bench this year. And when asked about the importance of the possibility of Alito stepping down while Republicans are in control of the Senate, Trump pointed to how Justice Ruth Bader Ginsburg’s death in 2020 shifted the court.“Ginsburg could not do it, and she really hurt herself within the Democrat Par

Crime|Entertainment|Political|US

New accuser says Eric Swalwell sexually assaulted her

A woman on Tuesday accused Rep. Eric Swalwell of sexually assaulting her, saying at a news conference that the congressman raped her in 2018 at a Los Angeles-area hotel.Lonna Drewes and her lawyer, Lisa Bloom, said they planned to report the assault to the Los Angeles County Sheriff’s Department.Bloom declined to share detailed corroboration of Drewes’ claims, which CNN could not independently verify, saying that evidence would be shared with law enforcement authorities first.In a statement late on Tuesday, the sheriff’s department said its Special Victims Bureau is now investigating the

Why Justice Alito was taken to a hospital last month

Pileup of about 70 vehicles on Interstate 70 in Colorado sends 8 to the hospital

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Business|Economy|Environment|World

Japan offers $10 billion support to help Asian neighbours secure oil

Japan said on Wednesday it would establish a financial framework worth about $10 billion to help Asian countries procure energy resources and bolster their stockpiles as Middle East tensions drive prices higher and disrupt supply chains.The support, aimed at preventing knock-on effects on Japan's own supply chains, would be channelled mainly through state-backed financial institutions such as Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI).Announcing the plan, Prime Minister Sanae Takaichi said the support would be equivalent to as much as 1.2

Economy|Europe|MidEast|Political|World

After criticizing the pope, Trump slams Italy's Meloni over lack of support for Iran war

Italian Premier Giorgia Meloni was supposed to be Europe’s bridge to U.S. President Donald Trump. It may be burning. After chastising Pope Leo XIV, Trump turned his ire on Meloni, long one of his closest European allies, for calling his papal broadside “unacceptable” and not backing the U.S.-Israel war on Iran. “I thought she had courage,’’ Trump said in an interview with leading Italian daily Corriere della Sera. “I was wrong.” Meloni has not directly responded to Trump’s attacks. But they may be to her advantage as she recovers f

Snapchat owner cuts 16% of global staff in latest round of job cuts

Seoul court sentences US YouTuber to 6 months in jail over offensive stunts

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Why are some ships going through the Strait of Hormuz during a blockade?

The United States’ blockade of Iranian ports has been “fully implemented” and put a halt to most of Tehran’s economic activity in just a day and a half, the head of US Central Command said Wednesday.“An estimated 90% of Iran’s economy is fueled by international trade by sea. In less than 36 hours since the blockade was implemented, US forces have completely halted all economic trade going into and out of Iran by sea,” Adm. Brad Cooper said in a statement on social media.US Central Command (CENTCOM) said earlier no vessels have breached the blockade since its implementation.At the

Ye postpones Marseille concert after French authorities say they will seek a ban

The rapper formerly known as Kanye West postponed his upcoming show in the city of Marseille after French authorities said they would seek to ban the concert. The decision by Ye came a week after he was banned from entering the U.K., where he was scheduled to headline the Wireless Festival in July, following a backlash over the artist’s history of antisemitic remarks. “After much thought and consideration, it is my sole decision to postpone my show in Marseille, France until further notice,” Ye wrote Wednesday on the social network X. “I know it takes time