US Politics & Business News
Acting IRS commissioner Scott Bessent has announced a “gigantic” tax refund for millions of Americans due to President Donald Trump’s One Big Beautiful Bill Act. Millions of Americans filing their 2025 federal tax returns this spring are receiving significantly larger refunds than in previous years, with Treasury Secretary Scott Bessent predicting what he called a…
The Federal Reserve’s decision to hold its benchmark interest rate in the 3.5% to 3.75% range on Wednesday was the most anticipated non-event of the year — until Jerome Powell started talking. What followed his opening remarks sent traders scrambling for the exits in a session that turned a routine hold into a full-blown risk-off…
Three weeks after Iranian missile and drone strikes forced the closure of Qatari airspace and grounded virtually the entire Qatar Airways fleet, the airline is attempting a partial return to operations this week, beginning with a limited scheduled service to dozens of destinations that started on March 18 and runs through to March 28. It…
The Trump administration has invoked the Defense Production Act of 1950, a Cold War-era emergency statute, to direct Sable Offshore Corp. to restart a pipeline and offshore oil operation along the Santa Barbara coast that has been shut since a rupture in 2015. Energy Secretary Chris Wright issued the order on Friday, framing it as…
Palantir continues to rely on Anthropic’s Claude artificial intelligence models despite the Pentagon designating the startup a supply-chain risk during an escalating dispute involving defense technology providers. Chief executive Alex Karp confirmed that Palantir’s software systems remain integrated with Anthropic’s tools while government agencies determine how to respond to the recent classification by the Department…
Prediction market operator Polymarket has entered a partnership with analytics technology provider Palantir Technologies to develop monitoring systems designed to track trading activity across sports-related prediction markets. The collaboration aims to deploy advanced analytical tools capable of identifying irregular market movements and suspicious trading patterns as the prediction platform expands its presence in event-based markets….
Blackstone faced renewed scrutiny this week after investors withdrew nearly eight percent from its flagship private credit vehicle, triggering a sharp market reaction and raising broader questions about stability within the fast-growing private lending sector. The asset management giant disclosed in a regulatory filing that investors were allowed to redeem 7.9% of the Blackstone Private…
Mortgage rates reversed their recent downward trend at the start of the week, climbing to their highest level in two weeks after briefly dipping below the psychologically significant six percent threshold. The average rate on the 30-year fixed mortgage increased by 13 basis points to 6.12 percent, according to Mortgage News Daily, following several days…
Oil markets were jolted after OPEC+ agreed to raise output by 206,000 barrels per day from April, even as shipping disruptions intensified across the Gulf region. The decision coincided with conflict involving the United States and Israel against Iran, alongside Tehran’s retaliation, which disrupted flows from key Middle Eastern producers. The Strait of Hormuz, responsible…
Jamie Dimon, CEO of JPMorgan Chase, spoke at an investor meeting on Monday about the bank’s plans to redeploy staff as artificial intelligence reshapes roles, while urging society to prepare for broader economic consequences. Dimon explained that the bank is implementing significant internal measures to shift employees into new positions, ensuring displaced staff from automation…