Author: potus
It was the summer of 2007. Deep inside Canada’s finance ministry, high-ranking officials were staring down the barrel of a global financial meltdown.They weren’t sure exactly when, or how, the market would crash, but as Mark Carney tells it, “We knew that the thing was going to fall apart.”It was a turning point for Mr. Carney, then a senior public servant, and began the next chapter of his career managing economic crises as the governor of national banks in Canada and Britain.It was also a transformative moment in Mr. Carney’s political evolution: He saw the financial crisis as the catalyst…
President Donald Trump listens during a Cabinet meeting at the White House on Feb. 26, 2025.Andrew Harnik | Getty Images News | Getty ImagesThe Trump administration’s purge of federal staff may flood an unemployment benefits system ill-equipped to handle the deluge, triggering delays in aid for jobless workers, according to a new report.The terminations of federal workers by the Trump administration’s so-called Department of Government Efficiency — headed up by billionaire entrepreneur Elon Musk — may ultimately stretch into the hundreds of thousands. That would amount to the largest mass layoff in U.S. history.The scale of cuts would likely “overwhelm”…
Nvidia CEO Jensen Huang gives a keynote address at CES 2025, an annual consumer electronics trade show, in Las Vegas, Nevada, U.S. Jan. 6, 2025. Steve Marcus | ReutersMore than two years into the generative artificial intelligence boom, Wall Street is setting an increasingly high bar for chipmakers.When it comes to earnings reports — most recently from Marvell Technology — good isn’t good enough. That’s because investors previously poured into the companies making the infrastructure and devices at the heart of the AI economy, bidding the stocks up to historically high levels.They’re demanding results.Marvell shares plummeted 20% on Thursday, their steepest slump…
United States President Donald Trump, on Thursday, paused tariffs on several imports from Mexico and Canada for a month. Earlier, he had imposed 25 percent tariffs on almost all imports from both countries. He first announced a halt on the tariffs for Mexico after a phone call with that country’s president, Claudia Sheinbaum. Later, he extended that reprieve to Canada. Here is what happened, which products the pause applies to and what comes next: What happened? On Thursday, Trump signed orders temporarily exempting goods from Mexico and Canada that are covered by the US-Mexico-Canada trade agreement (USMCA) from the 25…
Brian Armstrong, CEO of Coinbase, slammed the U.S. Securities and Exchange Commission. He also said the cryptocurrency exchange is looking to invest more outside of the U.S.Carlos Jasso | Bloomberg | Getty ImagesNow that President Trump has announced plans for a Strategic Bitcoin Reserve, crypto industry leaders can focus on what else they want to hear from the new administration on Friday.Just over six weeks into his second White House term, Trump is hosting his first Crypto Summit, a nod to an industry that played a major role in his election victory in November. No executive was more central to…
China’s top diplomat, Wang Yi, cast his country as a bulwark for peace and stability in a world thrown into chaos by the Trump administration. He warned of a return to the law of the jungle if more countries act like the United States in pursuing its own interests above all else.As the Trump administration upends global trade relations and threatens to abandon alliances, China is trying to burnish its image at home and abroad and take swipes at Western dominance. “We will provide certainty to this uncertain world,” Mr. Wang told reporters in Beijing on Friday.Yet Mr. Wang’s depiction…
US President Trump says Kyiv and Moscow have no choice but to secure a peace deal to end the war.United States and Ukrainian officials have indicated they will meet in Saudi Arabia next week to discuss a peace framework for ending the Russia-Ukraine war. This follows Washington suspending military aid and intelligence sharing with Kyiv this week, days after US President Donald Trump and his Ukrainian counterpart Volodymyr Zelenskyy clashed at the White House. Trump’s special envoy Steve Witkoff confirmed he will meet Ukrainian officials in Saudi Arabia next week to carve out a framework for a peace agreement. “We…
The destruction of U.S.A.I.D. Threats to make Canada the 51st state. The humiliation of Ukraine. What is going on with U.S. foreign policy? Some see it as driven by President Trump’s personal greed or fondness for dictators. Both might ring true, but neither tells the whole story. What matters most to Mr. Trump is not the wealth or ideology of a country but how powerful it is. He believes in dominating the weak and giving deference to the strong. It’s a strategy as old as time. It’s called realism.Don’t get me wrong. So much of what Mr. Trump does abroad,…
Cryptocurrency falls as much as 6 percent as lack of plans for government purchases disappoints investors.United States President Donald Trump’s executive order to establish a Bitcoin strategic reserve and a stockpile of other digital assets has failed to impress crypto markets, with Bitcoin’s value plummeting following the announcement. Bitcoin fell as much as 6 percent following Trump’s order on Thursday, which did not include plans for the government to actively buy Bitcoin. After dropping as low as $84,900, the cryptocurrency was trading at about $87,700 as of 05:00 GMT. In a statement announcing the order, Trump’s crypto tsar David Sacks…
President Donald Trump said he told his Cabinet secretaries during a meeting Thursday that staffing decisions will be left up to them, not Elon Musk and his Department of Government Efficiency.Trump said he instructed Cabinet members to work alongside DOGE on spending and workforce reductions while clarifying that final job cuts will be at the discretion of the department leaders.”We just had a meeting with most of the Secretaries, Elon, and others, and it was a very positive one,” Trump said on Truth Social. “It’s very important that we cut levels down to where they should be, but it’s also…