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‎A recent decision by the Supreme Court of the United States may significantly reshape federal finances after striking down many tariffs introduced during the second administration of Donald Trump in 2025. ‎ ‎The ruling, delivered late last month, invalidated a large portion of those duties, leaving a notable shortfall in government revenue. The administration had expected tariffs to bring in roughly $300 billion annually, funds that were intended to support several initiatives, including tariff rebate payments and corporate tax deductions outlined in the One Big Beautiful Bill Act. ‎ ‎A Supreme Court decision overturning tariffs could push the U.S. Treasury to borrow $1.6 trillion and add $400 billion in interest costs by 2036, according to CBO estimates. ‎Andrew Caballero-Reynolds/AFP via Getty Images  ‎ ‎However, the court determined that the administration lacked authority to impose those tariffs under the International Emergency Economic Powers Act. As a result, ta...

History shows that major inventions often eliminate entire professions. The spread of electricity removed the need for lamplighters and elevator operators, while the rise of computers gradually replaced jobs such as switchboard operators, data entry clerks, and file clerks. ‎ ‎Anthropic analysis reveals AI could perform most tasks in finance, tech, and administration, raising warnings about hiring slowdowns and potential risks to white-collar workers. ‎‘Labor market impacts of AI: A new measure and early evidence’/Anthropic ‎Artificial intelligence may now be preparing to reshape another segment of the workforce. ‎ ‎A new report from Anthropic examines which types of work artificial intelligence is already performing and which tasks it could theoretically handle in the future. The findings suggest that the technology’s potential influence on professional jobs is far larger than its current use. ‎ ‎The company, created by former researchers from OpenAI and known for developi...

Financial markets reacted in what economists described as a rational manner after hostilities erupted between the United States and Iran over the weekend. While the humanitarian consequences remain paramount, attention quickly shifted to the economic implications. ‎ ‎Energy desks are now at the center of the storm. Disruptions to supply chains are broadly expected following the unrest in the Middle East, and parts of that risk have already been reflected in commodity prices. ‎ ‎UBS highlights four economic risks from Trump’s Iran action: higher oil, Red Sea trade threats, rising deficits, and tariff refunds hitting U.S. finances. ‎Daniel Torok/White House/Getty Images ‎ ‎According to Paul Donovan, global chief economist at UBS, four macroeconomic themes stand out. The first is the effect of rising crude prices on inflation. For U.S. analysts already sensitive to affordability pressures, any sustained increase could complicate the outlook. ‎ ‎Second is the vulnerability of s...

‎European financial markets reopened to turbulence after weekend military strikes by the United States and Israel on Iran and the killing of Supreme Leader Ali Khamenei. The reaction was immediate: equities retreated, energy prices advanced, and investors pivoted toward traditional havens. ‎ ‎European equities decline as Iran conflict boosts oil and defense stocks, hits travel shares, and intensifies inflation and growth concerns. ‎Morteza Nikoubazl/NurPhoto via Getty Images ‎ ‎The rebound in oil and gas prices underscored the emergence of what traders now describe as the “war trade,” adding to an already active AI “scare trade.” Gold strengthened, and the dollar attracted demand despite uncertainty linked to Donald Trump. Geopolitical tensions are reshaping market risk assessments in real time. ‎ ‎A sharp downturn swept across key indexes. The STOXX Europe 600 declined 1.6%, matching losses seen in Germany’s DAX. Britain’s FTSE 100 fell 0.75%. Financial institutions were a...

‎President Donald Trump appeared to show signs of a fresh physical issue alongside the hand bruise that has lingered in recent appearances — a prominent rash across his neck. ‎ ‎President Donald Trump was seen with a noticeable neck rash during a Medal of Honor ceremony in the East Room of the White House on Monday. ‎Getty Images ‎ ‎The skin irritation was clearly visible on Monday as he took part in a Medal of Honor presentation held in the East Room of the White House. Observers could see the affected area beginning just behind his right ear. ‎ ‎Getty Images ‎ ‎From there, the breakout traced a path downward along his neckline, extending past the collar of his shirt. The marks were noticeable throughout the ceremony.

‎What could have been handled behind closed doors instead ended in a devastating military strike. ‎ ‎For months, the United States and Israel closely followed Iranian Supreme Leader Ali Khamenei, ultimately identifying a rare opportunity: a major gathering of Islamic Republic security officials at his compound in Tehran. ‎ ‎US and Israeli forces launched a surprise daylight strike in Tehran, killing Ayatollah Ali Khamenei and dozens of senior Iranian officials. ‎Getty Images ‎ ‎On Saturday morning, Israeli fighter jets carried out broad daylight airstrikes, reducing parts of the compound to rubble. The operation resulted in the death of Khamenei, dozens of senior officials, and three members of his family. ‎ ‎According to a report by The New York Times, citing anonymous sources, the CIA had spent considerable time studying the 86-year-old leader’s movements and habits. Newly acquired intelligence revealed details of the high-level meeting in central Tehran. Officials descri...

‎President Donald Trump declared that U.S. military operations against Iran will proceed without pause for as long as required to secure peace across the Middle East and beyond, following confirmation that Supreme Leader Ali Khamenei has died. ‎ ‎The president had already outlined sweeping objectives for the campaign, including dismantling Iran’s nuclear infrastructure, ballistic missile systems, and broader military capabilities. Earlier Saturday, he urged Iranians to remove their government once aerial assaults subside, describing regime change as a potential outcome. ‎ ‎Trump confirms Khamenei’s death and vows uninterrupted U.S. bombing of Iran until peace is achieved, signaling broader goals beyond regime change. ‎Iranian Leader Press Office/Anadolu via Getty Images ‎Later that afternoon, Trump intensified his rhetoric in a social media statement, emphasizing that the bombardment would not be limited in duration. ‎ ‎“Bombing to continue throughout the week — The heavy a...

‎Iran’s leadership is confronting what analysts describe as an existential moment following U.S.-Israeli airstrikes, with President Donald Trump openly calling for regime change. Security experts say Tehran may respond in ways that significantly expand the conflict. ‎ ‎Iran faces an existential threat after U.S.-Israeli airstrikes. Former NATO commander warns Tehran could escalate by closing the Strait of Hormuz. ‎Jack Guez/AFP via Getty Images ‎While the Islamic Republic has retaliated with missiles and drones, the pace remains below the barrage seen in June 2025, when the United States joined Israel in a 12-day campaign targeting Iranian nuclear facilities. ‎ ‎Retired Admiral James Stavridis, the former NATO supreme allied commander, outlined two potential paths in remarks to CNN. Iran could maintain its current level of missile launches and consolidate internally. Alternatively, if its leaders conclude they are cornered, they could dramatically escalate. ‎ ‎According to ...

‎Multiple FBI agents and analysts who worked on the investigation into President Donald Trump’s retention of classified documents after leaving office were dismissed Wednesday, sources told CBS News. At least 10 employees were affected. ‎ Multiple FBI employees involved in the Trump Mar-a-Lago documents investigation were fired as disputes grow over subpoenas and oversight claims. ‎Tom Williams—CQ–Roll Call Inc./Getty Images ‎ ‎The individuals were connected to the classified records inquiry led by former Special Counsel Jack Smith. That probe examined Trump’s possession of sensitive materials following his departure from the White House in 2021, as well as alleged obstruction of Justice Department efforts to recover them. ‎ ‎The dismissals occurred after Reuters reported that the FBI had subpoenaed phone records belonging to FBI Director Kash Patel and White House Chief of Staff Susie Wiles during the investigation. At the time the records were sought, both were private ci...

‎Hours before President Donald Trump delivers his State of the Union address, the Committee for a Responsible Federal Budget (CRFB) delivered a sharp critique of his administration’s economic policies. The watchdog warned that the nation faces unprecedented debt levels, contradicting the fiscal achievements Trump is expected to highlight. ‎ ‎Budget watchdog warns U.S. debt at record highs before Trump’s State of the Union, citing tariffs, tax cuts, and unsustainable spending as key drivers. ‎Win McNamee/Getty Images ‎ ‎Maya MacGuineas, CRFB president, stressed that Americans are entering 2026 “more indebted than ever outside a war or emergency.” Her statement follows heightened tensions between the watchdog and Treasury Secretary Scott Bessent, which erupted after the Supreme Court struck down Trump’s emergency tariffs implemented under the International Emergency Economic Powers Act (IEEPA). ‎ ‎The CRFB projected that the loss of these tariffs could slash $2 trillion in fe...

‎In advance of his February 2026 State of the Union address, President Trump appears poised to amplify his trade agenda once again. Known for calling himself “Tariff Man,” he continues to champion duties on imports as a defining feature of his presidency—despite overwhelming skepticism from economists across the political spectrum. ‎ Ahead of the 2026 State of the Union, Trump escalates tariffs after a court defeat. Economists say U.S. trade deficits are domestically driven, not foreign abuse. ‎Jabin Botsford/The Washington Post via Getty Images ‎His latest escalation follows a Supreme Court ruling that struck down a central element of his trade policy by a 6–3 vote. Reacting swiftly, Trump criticized the justices as “disloyal,” introduced a 10% tariff applied globally, and raised it to 15% within days via social media posts. He has also promised to impose what he termed “absolutely ‘terrible’ things” on foreign governments. ‎ ‎Trump insists that while one approach was reje...

‎For years, landing a role in Big Tech as a software engineer meant long-term security and lucrative starting pay. That certainty is now being questioned. According to Boris Cherny, the developer behind the AI system Claude Code, the traditional software engineer title may vanish before the end of this year. ‎ ‎Cherny shared his outlook during an episode of Lenny’s Podcast, hosted by Lenny Rachitsky. He predicted a shift in how work is structured in tech teams. In his view, “software engineer” will gradually be replaced by “builder,” with coding becoming a universal skill rather than a specialized title. He cautioned that the transition will be difficult for many professionals. ‎ ‎Boris Cherny says AI tool Claude Code may eliminate the software engineer title by year-end, reshaping tech jobs and expanding AI across industries. ‎Samyukta Lakshmi/Bloomberg via Getty Images ‎ ‎How Claude Code Is Changing Engineering ‎ ‎Released a year ago, Claude Code quickly gained traction a...

‎The Supreme Court of the United States has ruled that President Donald Trump could not rely on the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs on trading partners, casting uncertainty over roughly $175 billion collected under the policy. ‎ ‎While few families were counting on a rebate check tied to tariff collections, the prospect now appears even more remote. With economists estimating that up to $175 billion is tied up in litigation over potential refunds, Treasury Secretary Scott Bessent indicated the funds may never make their way back to consumers. ‎ ‎Supreme Court halts IEEPA tariffs as Scott Bessent signals $175B in disputed revenue may never reach Americans amid ongoing legal battles. ‎Richard Rodriguez/Getty Images ‎ ‎Legal Dispute Over Tariff Revenue ‎ ‎The ruling determined that the White House’s use of IEEPA authority to introduce global tariffs was unlawful. Tariffs were first applied to China in February 2025, followed by Ca...

‎The late 19th century’s Gilded Age became a symbol of immense corporate dominance. Industrial titans such as Cornelius Vanderbilt wielded extraordinary authority—so much so that on November 18, 1883, railroad companies in the United States and Canada introduced four standardized time zones across North America. The shift, remembered as “the Day of Two Noons,” caused clocks in many towns to strike midday twice. ‎ ‎Anthropic CEO Dario Amodei voices unease over the rapid, accidental concentration of AI power, warning of economic upheaval and trillion-dollar fortunes. ‎Prakash Singh/Bloomberg/Getty Images ‎ ‎A similar concentration of influence is now unfolding in artificial intelligence. Even insiders shaping this transformation are expressing unease. Dario Amodei, chief executive of Anthropic, says the speed and manner in which authority has gathered in the AI sector troubles him deeply. ‎ ‎Speaking on the WTF Is with host Nikhil Kamath, Amodei suggested that luck played a s...

‎A newly revised report from the Congressional Budget Office reveals that Medicare’s Hospital Insurance trust fund has lost 12 years of projected financial stability in under a year. The fund that supports Medicare Part A is now expected to be depleted by 2040. ‎ ‎Although balances are projected to rise through 2031, expenditures are forecast to exceed income beginning the following year. That imbalance sets the stage for complete exhaustion within less than two decades. ‎ ‎CBO report shows Medicare Part A trust fund will run out by 2040 after policy changes cut 12 years of solvency, raising risk of benefit reductions. ‎Anna Moneymaker/Getty Images ‎This marks a sharp reversal from the estimate issued in March 2025. The shortened timeline significantly advances the date when retirees could face cuts to essential health services. As required under the Deficit Control Act, CBO Director Phillip Swagel stated that projections assume benefits would continue as scheduled even aft...

‎On what he called Liberation Day, President Trump presented a reciprocal tariff chart that many economists viewed as misguided. Relying on that chart and invoking the International Emergency Economic Powers Act of 1977, he imposed reciprocal tariffs on most countries worldwide. ‎ ‎An in-depth look at Trump’s tariffs, the Supreme Court ruling, trade deficits, job losses, and why economists argue the policy failed to boost growth. ‎Saul Loeb/AFP via Getty Images ‎The IEEPA permits presidential action only when confronting an “unusual and extraordinary” foreign threat to national security. The central question, therefore, is whether the U.S. trade deficit constitutes such a danger. The United States has recorded a trade deficit every year for the past half century, and none of those deficits has threatened national security. They have become a standard feature of the economic landscape. ‎ ‎President Trump has repeatedly described trade deficits as harmful. Yet deficits are no...

‎More than five decades after the United States launched its War on Drugs, illicit substances remain widespread and cartel violence continues to destabilize Mexico. Despite investing over $1 trillion since 1971, narcotics trafficking networks remain resilient, and drug consumption has expanded both domestically and worldwide. ‎ ‎After $1 trillion spent on the War on Drugs, cartel violence and drug use persist. El Mencho’s death underscores ongoing U.S.-Mexico narcotics challenges. ‎Daniel Cardenas/Anadolu/Getty Images ‎ ‎The campaign began when Richard Nixon labeled drugs “public enemy No. 1.” At the time, annual federal counter-drug funding totaled about $100 million. By contrast, in the final year of Joe Biden’s presidency, the requested drug control budget for fiscal year 2025 reached $44.5 billion. Over time, spending has encompassed DEA operations, border monitoring, public awareness programs, and foreign assistance across Latin America. ‎ ‎Yet one major benchmark has ...

‎A wave of violence swept across western Mexico on Sunday after the head of the Jalisco New Generation Cartel was killed during a military operation, triggering chaos in one of the country’s most popular resort destinations. ‎ ‎Authorities confirmed that Nemesio “El Mencho” Oseguera Cervantes, leader of the powerful CJNG criminal organization, died during a raid in Tapalpa, Jalisco. In the aftermath, cartel members launched coordinated attacks, setting vehicles ablaze and blocking highways to obstruct federal forces. ‎ — ‎Puerto Vallarta erupts in violence after El Mencho is killed in a military raid. Tourists shelter indoors as cartels torch vehicles and airports heighten security. ‎AFP via Getty Images  ‎In Puerto Vallarta, the nation’s fourth-largest tourism hub, visitors were urged to remain inside. The US State Department advised Americans in the region to shelter in place, and some reported being unable to leave. ‎ ‎“It looked like the whole city was on fire,” sai...

‎Mexico’s military confirmed Sunday that it killed Nemesio Rubén Oseguera Cervantes, widely known as “El Mencho,” during an operation in Jalisco. His death dismantles the leadership of the Jalisco New Generation Cartel (CJNG), regarded as the country’s most dominant criminal organization, and marks the most significant result yet presented to the administration of Donald Trump in efforts against drug trafficking. ‎ ‎Mexican forces killed CJNG leader El Mencho in Jalisco, triggering violence, US alerts, and a major blow to Mexico’s most powerful cartel. ‎Anadolu via Getty Images ‎According to Mexico’s Defense Department, troops launched an operation to detain Oseguera Cervantes in Tapalpa, Jalisco, about two hours southwest of Guadalajara. He was wounded during the action and died while being transported by air to Mexico City. Jalisco has long served as the operational base of the cartel, which traffics large amounts of fentanyl and other narcotics into the United States. ‎ ...