Federal Reserve says U.S. banks can withstand $708 billion in losses amid overhaul of capital rules
The Fed’s annual exercise comes at a pivotal moment for bank regulation because, unlike previous years, the results will not affect capital requirements.
Trump meets defense CEOs as Iran operations strain U.S. missile stockpiles
The White House is pressing major defense firms to expand missile and munitions output as Iran talks and weapons stockpile concerns put new pressure on the Pentagon’s industrial base.
JPMorgan Chase unveils $50 billion buyback, Goldman Sachs raises dividend after Fed stress test
The announcements followed the release of the Federal Reserve’s annual stress test, which found that all 32 large banks weathered a hypothetical recession.
White House requests $87.6 billion supplemental spending for Iran war, farm aid
White House Office of Management and Budget Director Russell Vought asked House Speaker Mike Johnson for billions in extra spending for the Iran war.
Trump cancels signing of bipartisan housing bill, demanding voter-ID provision
President Donald Trump on Wednesday canceled via TruthSocial a scheduled Capitol Hill signing of a landmark bipartisan housing bill that leaders in both parties had heralded as a win. Read more Chief of staff to former NYC Mayor Eric Adams arrested in federal bribery probe, AP source says “Today’s Housing News Conference and Signing is […]
Trump claims Iran has assured U.S. there won’t be tolls on the Strait of Hormuz
There will be no tolls, insurance costs, or charges of any kind for ships looking to pass through the Strait of Hormuz, Trump said.
Chief of staff to former NYC Mayor Eric Adams arrested in federal bribery probe, AP source says
A chief of staff to former New York City Mayor Eric Adams and several other people have been arrested as part of an investigation into an alleged bribery scheme.
U.S. Treasury will oversee frozen Iranian funds when they’re released, Bessent says
Treasury Secretary Scott Bessent said once Iranian frozen assets are released, they will be overseen by Treasury and routed largely to U.S. agriculture, medicines.
Slate Auto says each $24,950 electric pickup truck will be profitable as it aims to be cash-flow positive next year
EV startup Slate Auto CEO Peter Faricy told CNBC that every vehicle the company produces will be gross margin positive.
Democrats see midterm hope in reliably red Iowa as Trump approval ratings sag
The path back to a House majority could run through states such as Iowa, where Democrats in recent elections have struggled to win over rural voters.