Brief'd

President Trump wrapped a two-day summit in Beijing with Chinese leader Xi Jinping that produced $17 billion in annual agricultural trade commitments but left Taiwan's status deliberately unresolved. Trump also scrapped a planned executive order requiring federal AI safety reviews after Elon Musk and other tech leaders lobbied against it, citing competition with China. Plus Fed chair Kevin Warsh c...

President Trump halted a planned military operation against Iran after Gulf leaders said they were close to a diplomatic deal. Meanwhile, the Senate voted 50-47 to advance a war powers resolution for the first time, with Republican Senator Bill Cassidy breaking ranks. Also: a banking executive order that lets lenders treat deportation risk as a lending factor, Russia's largest nuclear drills on re...

The House narrowly approved a sweeping tax and spending bill that would raise the child tax credit and increase the SALT deduction cap, adding $2.3 trillion to the national debt. Meta is laying off 14,000 workers while simultaneously raising AI spending to $145 billion, cutting headcount to pay for computing power. Plus the White House is expected to release an AI executive order requiring compani...

A federal jury rejected Elon Musk's $180 billion lawsuit against OpenAI and Sam Altman on a procedural grounds — the claim was filed outside a three-year statute of limitations — without ruling on whether OpenAI actually betrayed its nonprofit mission. A federal judge also found the Justice Department engaged in systematic deception while seeking patient records from a Rhode Island hospital. Plus...

OpenAI reached $25 billion in annualized revenue in just three years, but CEO Sam Altman and CFO Sarah Friar are at odds over an IPO as the company's cash burn widens. A New York Times investigation revealed Israel operated covert military bases in Iraq's western desert for over a year, leading to the killing of a Bedouin shepherd. Plus the EU agreed on AI regulation extensions, Samsung workers th...

Global oil stockpiles fell by a quarter-billion barrels in just two months as the Strait of Hormuz blockade tightens, pushing inventories toward record lows ahead of summer demand. Saudi Arabia's sovereign wealth fund is closing in on a $55 billion take-private of video game giant Electronic Arts in what would be the largest leveraged buyout ever. Plus Russia loses ground in Ukraine despite record...

Oil shipments through the Strait of Hormuz have plummeted to 30 percent of peacetime levels as the U.S.-Iran standoff deepens with no diplomatic off-ramp in sight. China rolled out economic incentives for Taiwan while warships patrolled nearby. The Department of Homeland Security is capping international student visas at four years, and Cerebras raised nearly $6 billion in the largest tech IPO sin...

The Trump-Xi summit wrapped with Xi issuing his sharpest warning yet on Taiwan while the joint statement avoided the issue entirely. The Strait of Hormuz remains effectively closed by Iran's blockade despite both leaders calling for it to reopen, leaving thousands of mariners stranded. A federal judge blocked DOJ subpoenas for medical records and accused attorneys of deception, part of a widening...

Trump and Xi Jinping met at the Great Hall of the People as Xi warned that Taiwan could create a dangerous situation if mishandled, while the leaders agreed the Strait of Hormuz must remain open and discussed U.S. energy sales to China. Kevin Warsh was confirmed as the next Federal Reserve chair in the most partisan vote in history, taking office tomorrow with plans to shrink the Fed's balance she...

President Trump arrived in China today for his first summit with Xi Jinping in nearly a decade, with three towering issues on the table: Iran leverage, trade truce extension, and Taiwan arms sales. Back home, the FDA lost its commissioner after clashing over e-cigarette approvals, inflation surged to nearly 4 percent as energy costs spike, and the White House is now considering its own AI safety r...

President Trump arrives in China for the most consequential U.S.-China summit in nearly a decade, with 16 CEOs in tow and a new trade framework on the table. But his rejection of Iran's peace proposal is already pushing energy costs higher, with April inflation expected to approach 4 percent. The Federal Reserve held rates steady in its most divided vote since 1992, signaling no relief for years t...

A Qatari liquefied natural gas tanker passed through the Strait of Hormuz for the first time since the Iran war began, but Trump rejected Tehran's ceasefire counter-proposal as unacceptable. In Hungary, voters delivered a landslide defeat to Viktor Orbán, with Péter Magyar's party winning 141 of 199 parliamentary seats. Plus Kevin Warsh heads toward Senate confirmation as Federal Reserve chair wit...

Gunfire erupted in the Strait of Hormuz as three U.S. Navy destroyers came under attack, testing a fragile ceasefire while diplomats negotiate over how long Iran's uranium enrichment must pause. The April jobs report came in nearly double expectations with warehousing surging ahead of tariff deadlines. Meanwhile, Russia and Ukraine's three-day ceasefire is underway with a prisoner exchange, and Ga...

Iran attacked three American destroyers in the Strait of Hormuz with missiles and drones; the U.S. struck back as nuclear talks stall over enrichment timelines. President Trump brokered a three-day Ukraine ceasefire that's already seeing violations on both sides. A landmark decade-long study found a common knee surgery may actually harm patients, and the UAE's surprise exit from OPEC signals a maj...

Iran dismissed a U.S. peace proposal as an American wish-list while President Trump threatened military strikes, sending oil markets whipsawing. Jerome Powell held rates steady in the Fed's most divided vote in over 30 years and announced he'll stay on the board after stepping down as chair—a deliberate block on Trump's appointees. Plus court rulings against Trump's tariff authority, AI safety reg...

The U.S. and Iran are negotiating a memorandum to formally end hostilities and begin nuclear talks, with stock markets surging and oil prices falling on the news. Russia threatened massive missile strikes on Kyiv ahead of Victory Day while Ukraine struck deep into Moscow. Plus the fallout from a Supreme Court voting rights ruling is reshaping congressional maps across the South, and a large study...

The U.S. military operation escorting ships through the Strait of Hormuz lasted barely a day before President Trump announced a pause, though over 1,500 commercial vessels remain stranded and shots continue to be exchanged with Iranian forces. A legal battle in Colorado over AI regulation has drawn the first-ever federal intervention to challenge a state AI law, signaling how Washington may preemp...

Iran launched ballistic missiles and drones at UAE targets including a major oil facility, marking the first strike since the ceasefire began and pushing the region closer to open conflict. Oil prices surged and Treasury yields hit their highest level since July, with major banks now betting the Fed could raise rates instead of cutting them. Plus: Trump pushes sweeping election changes as courts b...

The U.S. military is launching "Project Freedom" to open shipping lanes through the Strait of Hormuz, but Iran's military says it will fire on any American forces that enter those waters. The Federal Reserve reported four dissents—the most in decades—with officials warning of stagflation as energy costs surge from the escalating Middle East crisis. Plus GameStop's audacious $56 billion unsolicited...

Iran's 14-point peace proposal was rejected by Trump, with no agreement on whether to address nuclear issues or sanctions first—and oil prices and food costs keep rising across Asia. The Pentagon announced 5,000 troops leaving Germany, but Trump signaled cuts will go much deeper, scrapping a missile deployment agreement and alarming Congress. Plus: the Supreme Court's voting rights ruling triggers...

The Trump administration authorized secondary sanctions targeting foreign banks and companies doing business with Cuba, marking the most aggressive economic isolation in decades as the island faces rolling blackouts. The Federal Reserve held rates steady but split 8-4, its widest dissent in 30 years, and shifted language on inflation. The EU approved a 90 billion euro loan for Ukraine after Hungar...

Gasoline prices jumped to nearly $4.40 a gallon as the Strait of Hormuz remains blockaded, marking the largest oil supply disruption in history. The economy grew 2 percent in Q1 but the gains mask a split picture: AI investment surged while consumers faced rising inflation. Meanwhile, China's DeepSeek released a massive AI model optimized for homegrown chips, signaling a push toward independence f...

President Trump doubled down on a naval blockade of Iran, rejecting a proposal to reopen the Strait of Hormuz and demanding permanent nuclear restrictions first. Oil prices surged to four-year highs as ship traffic collapsed, pushing California gas above $5.90 a gallon. The Senate Banking Committee voted along strict party lines to advance Kevin Warsh as Federal Reserve chair—the first fully parti...

Alphabet, Amazon, Meta, and Microsoft report earnings this evening with investors focused on whether their $600 billion AI spending bet is paying off. Inflation hit 3.3 percent in March driven by surging oil costs, freezing the Fed in place as the Iran conflict ripples through markets. The UAE is leaving OPEC after nearly 60 years, reshaping the oil cartel's power just as global energy disruption...

Diplomatic efforts to end the Strait of Hormuz blockade have broken down after Trump pulled envoys from talks, leaving about 2,000 ships stranded and oil prices soaring. The Federal Reserve held rates steady for a third straight meeting, boxed in by inflation driven partly by the energy crisis. Plus: former FBI Director James Comey faces federal charges over an Instagram post showing seashells arr...