Fannie Mae and Freddie Mac Are Shaken Up by Their Regulator – The New York Times
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06 Market
Baidu Ernie X1: China’s Relentless AI Push Continues – PhoneWorld Magazine
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Climate protesters interrupt Kemi Badenoch’s speech at Thatcher conference – Peeblesshire News
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A new anti-LGBTQ+ bill in Hungary would ban Pride event and allow use of facial recognition software – The Santa Rosa Press Democrat
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Congress should ‘drop the hammer’ on Meta over whistleblower claims about China: tech watchdogs – New York Post
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China’s Baidu releases new AI model to compete with DeepSeek – themoorecountynews.com
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LA Times hit with $24M lawsuit for allegedly failing to pay rent, leaving printing plant covered in ‘toxic ink stains’ – New York Post
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Schumer postpones book tour due to ‘security concerns’ amid anger from Democrats over government funding fight – WENY-TV
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Meta’s Assault on DEI Plays Right Into the Project 2025 Handbook – Truthout
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‘Deeply uncomfortable’: UK Starlink users switch off over Musk’s political machinations – The Guardian
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‘Deeply disturbing’: Musk’s ‘Hitler didn’t murder millions’ repost draws outrage – USA TODAY
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Chevron CEO weighs in on oil legislation after Trump pulled its license to operate in Venezuela: ‘Swinging from one extreme to the other is not the right policy approach’ – MSN
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Texas Legislature to consider bill clarifying medical exceptions in state’s abortion ban – MSN
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DOGE Staff Marches Into U.S. Institute of Peace and Evicts Its Officials – The New York Times
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Trump’s Tariff Policies Jolt Auto Industry Executives – The New York Times
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Regulator Approves Rate Rise For State Farm in California – – Insurance Edge
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Why Millions Of Americans Are Tapping Their 401(k) Savings Early– finance.yahoo.com
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Excerpt:
A growing share of Americans are dipping into their retirement nest eggs to handle immediate financial challenges, underlining the economic strain many households are experiencing despite strong employment figures.
Last year, 4.8% of 401(k) account holders took early withdrawals for hardship reasons like paying medical bills or paying their home mortgage, according to data from Vanguard Group. It marks an all-time high, jumping from 3.6% the previous year and more than doubling the typical pre-COVID rate of about 2%.
Traditional 401(k) hardship withdrawals still come with costs. Account holders must pay income tax on the withdrawn amount and typically face a 10% penalty if they’re younger than 59 and-a-half.
Despite the increase in early withdrawals, overall 401(k) balances rose by an average of 10% in 2024, reaching a record high of $148,153. The share of participants with outstanding 401(k) loans remained steady at 13%, unchanged from 2023 levels.
As more employers not only automatically enroll workers but also automatically increase their contribution rates—typically by 1% annually until reaching about 10% of pay—retirement accounts are increasingly serving as de facto emergency funds for Americans facing financial difficulties.
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Trump Undoes Biden’s Abortion Legacy: Navy Will No Longer Pay for Sailors’ Abortions – MSN
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Justice Thomas urges Supreme Court to reconsider free speech rules near abortion clinics – MSN
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Trump doubles down on tariffs as stocks sink: ‘not going to bend’– www.cnbc.com
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Excerpt:
President Donald Trump on Thursday doubled down on his escalating tariff plans, even as his economic agenda continued to rattle investors and contribute to a weekslong stock market sell-off.
“I’m not going to bend at all,” Trump said when asked about his tariff plans during an Oval Office meeting with NATO Secretary General Mark Rutte.
Trump specifically said he would not change his mind about enacting sweeping “reciprocal tariffs” on other countries that put up trade barriers to U.S. goods. The White House has said those tariffs are set to take effect April 2.
Trump’s comments came as major stock indexes continued to tumble Thursday, with the S&P 500 falling 10% from its recent highs and entering correction territory.
Canada Launches WTO Complaint On US Steel, Aluminium Tariffs– www.ndtv.com
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Excerpt:Canada launched a complaint with the World Trade Organization on Thursday over US President Donald Trump’s across-the-board imposition of 25-percent tariffs on steel and aluminium imports.
The steep levies, which came into force on Wednesday, contained no exemptions despite countries’ efforts to avert them.
“Canada has requested WTO dispute consultations with the United States regarding the imposition by the United States of import duties on certain steel and aluminium products from Canada,” the WTO said.
“Canada claims that the measures, which terminate Canada’s exemption from additional duties on certain steel and aluminium products and increase duties on aluminium articles, and which took effect on March 12, are inconsistent with US obligations,” the global trade body said.
Trump threatens to put 200% tariff on French Champagne and other EU spirits– www.cnbc.com
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Excerpt:
U.S. President Donald Trump said Thursday he plans to put a 200% tariff on alcohol from France and other European nations in the latest escalation of global trade tensions.
The U.S. tariff comes after the European Union moved to reinstate an import tax on American whiskey.
“The European Union, one of the most hostile and abusive taxing and tariffing authorities in the World, which was formed for the sole purpose of taking advantage of the United States, has just put a nasty 50% Tariff on Whisky. If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES. This will be great for the Wine and Champagne businesses in the U.S.,” Trump said on Truth Social.
USDA Rolls Out $1 Billion Plan To Combat Bird Flu After Egg Prices Rise – Aberdeen Insider
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Excerpt:
The U.S. Department of Agriculture announced Wednesday it plans to spend up to $1 billion in Commodity Credit Corporation funds to try to reduce the spread of highly pathogenic avian influenza in poultry.
The virus, also known as bird flu or H5N1, has disrupted the work of poultry farmers for years and began infecting dairy herds last year. But a recent spike in egg prices has led to renewed public attention to the disease.
Agriculture Secretary Brooke Rollins said the new five-point plan would implement increased biosecurity measures for poultry farms to help reduce interactions between domestic flocks and wild birds, provide funding for farmers to quickly repopulate after having to cull infected flocks, remove some regulations, import eggs from other countries and research a vaccine.
Rollins said she was “confident” that the firing of probationary federal employees and efforts to reduce the size of the federal workforce wouldn’t negatively affect USDA.
“As we look to streamline and make more efficient the U.S. Department of Agriculture, will we have the resources needed to address the plan I just laid out?” she said. “We are convinced that we will, as we realign and evaluate where USDA has been spending money, where our employees are spending their time.”
Trump Org. sues Capital One after alleged debanking: ‘Clear attack on free speech’ – The Christian Post
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Excerpt:
The Trump Organization is suing Capital One after the ninth-largest bank in the United States allegedly “debanked” them in 2021.
The lawsuit, filed in Miami-Dade County on March 7, endeavors “to hold the bank accountable for their egregious conduct in unjustifiably terminating over 300 of the company’s bank accounts without cause,” Eric Trump wrote in an X post.
Eric Trump said the Trump Organization had banked with Capital One for more than a decade as “a clear attack on free speech and free enterprise that flies in the face of the bedrock principles and freedoms that define our country.”
Trump administration reverses policy, allows full Social Security overpayment clawbacks – MSN
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Musk and Rubio spar with Polish minister over Ukraine’s use of Starlink – BBC.com
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Excerpt:
US Secretary of State Marco Rubio and Elon Musk have clashed with Poland’s foreign minister over the use of the tech billionaire’s Starlink satellite internet system in Ukraine.
Musk said on X that Ukraine’s “entire front line” would collapse if he turned the system off. Radoslaw Sikorski responded, saying his country paid for its use in Ukraine and a threat to shut it down would result in a search for another network.
Rubio dismissed Sikorski’s claims and told him to be grateful, while Musk called him a “small man”.
The exchange appeared to lead to Polish PM Donald Tusk calling on his country’s allies to show respect for their weaker partners, rather than arrogance.
Starlink’s system is part of SpaceX’s venture to provide high-speed internet to remote and underserved areas. It has been used extensively by the Ukrainian military.
Donald Trump’s tariffs hurting US business, Republican lawmakers warn – US politics live | Donald Trump– www.theguardian.com
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Excerpt:
US president Donald Trump has not treated Greenlanders with respect since expressing his renewed interest in acquiring the vast, mineral-rich Arctic island, Greenland’s prime minister was quoted on Monday as saying.
Trump reiterated his interest in acquiring the island during his address to Congress last Tuesday, painting a picture of prosperity and safety for the “incredible people” of Greenland, an autonomous territory of the kingdom of Denmark, Reuters reported.
Trump reaffirmed that message in a Truth Social post early on Monday, writing: “We will continue to keep you safe, as we have since World War II. We are ready to invest billions of dollars to create new jobs and make you rich.”
Greenland’s prime minister Mute Egede told Danish public broadcaster DR in an interview aired on Monday: “We deserve to be treated with respect, and I don’t think the US president has done that recently since he took office.”
“I think that the recent things the American president has been doing means that people don’t want to get as close to (the US) as they might have wanted in the past,” he added.
“We need to draw a line in the sand and put more effort into (cultivating relations with) the countries that show us respect for the future we want to build,” said Egede, in comments aired a day before Greenland holds a general election.
Trump dodges recession talk as global markets plunge– www.dailykos.com
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Excerpt:President Donald Trump has refused to rule out that his economic policies could trigger a recession and pushed for a “period of transition” that global markets have already responded to negatively.
In an interview that aired on Sunday, with Fox Business conspiracy theorist Maria Bartiromo, Trump was asked if he expected a recession.
“I hate to predict things like that. There is a period of transition because what we’re doing is very big, we’re bringing wealth back to America,” Trump said.
Trump’s statement is false. He has repeatedly throughout his political career predicted economic calamity, usually in the context of attacks against his Democratic rivals like former President Joe Biden and Sec. Hillary Clinton.
Mark Zuckerberg Offered China Full Censorship Control And User Data Access, Says Meta Whistleblower: ‘Working Hand In Glove With The Chinese Communist Party’ – Benzinga
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Excerpt:
A former Meta Platforms, Inc. executive has accused the company and CEO Mark Zuckerberg of going to extraordinary lengths—including enabling censorship and offering data access—to gain a foothold in China.
What Happened: In a whistleblower complaint filed with the SEC in April, Sarah Wynn-Williams, Meta’s former global policy director for China, made these allegations.
She stated that the company, formerly Facebook, developed a China-specific censorship system in 2015 and proposed installing a “chief editor” to manage and potentially shut down content during periods of social unrest.
The 78-page whistleblower complaint, reviewed by The Washington Post, claims Meta was prepared to give the Chinese Communist Party (CCP) oversight of all Facebook content in China and store user data locally—making it more accessible to government surveillance.
Taiwan’s president flexes independence in National Day speech – MSN
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Excerpt:
Taiwanese President William Lai on Thursday took a shot at mainland China’s claims of sovereignty over self-governing Taiwan, saying, “The People’s Republic of China has no right to represent Taiwan.” The remarks, delivered in a closely watched speech marking the 113th anniversary of the revolution that founded the Republic of China (Taiwan’s formal name), won’t sit well with Beijing.
The People’s Republic of China maintains the so-called “One China” policy and sees democratic Taiwan as a rebellious province that will eventually be reunified with the mainland. The only question, from Beijing’s perspective, is whether that happens militarily or politically, and rhetoric like Lai’s seems to make the window for a peaceful resolution even smaller.
Chinese President Xi Jinping has reportedly ordered his military to be prepared to retake Taiwan by 2027, although that doesn’t mean he will actually attack that year. Some members of Taiwan’s opposition Kuomintang Party, including former President Ma Ying-jeou, worry that Lai is endangering Taiwan by antagonizing China.
In response to Lai’s speech, Taiwanese officials expect China to conduct military drills around the island — a demonstration large enough to show Beijing’s displeasure with Lai’s statements. However, China’s economic malaise is occupying much of the leadership’s focus, and the odds of seeing more provocative military measures are low.