All posts tagged "Bloomberg"

Despite the turmoil over poor job growth numbers on Friday, President Donald Trump scored a major victory with the resignation of a Federal Reserve Board member.

Adriana D. Kugler submitted her resignation letter to Trump, effective Aug. 8, so she can return to teaching at Georgetown University. She has served as a governor on the board since September 2023.

“It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System,” Kugler said in a statement. “I am especially honored to have served during a critical time in achieving our dual mandate of bringing down prices and keeping a strong and resilient labor market.”...

President Donald Trump wants to cut NASA's budget by 24%, but senators on both sides of the aisle claim that would have devastating consequences on the agency's ability to advance vital scientific research, Bloomberg reported.

In addition, the president is seeking to slash NASA's science portfolio funding "nearly in half" while canceling "dozens of science missions," the report stated.

But during an appropriations committee hearing this week, Republicans and Democrats alike dismissed Trump's cuts, and proposed their own $24.9 billion budget for 2026, which is "roughly" the same amount NASA received for 2025....

President Donald Trump's commerce secretary Howard Lutnick is emulating his boss by transferring away "his ownership interests in multiple affiliated companies" to trusts that will benefit his adult children, The Wall Street Journal reported Monday.

Lutnick, a billionaire, served as chairman and chief executive of financial-services firm Cantor Fitzgerald until he was appointed to Trump's cabinet in February.

In keeping with "a government ethics agreement," Lutnick created the trusts to benefit sons Brandon Lutnick and Kyle Lutnick, "as well as Lutnick’s other adult children."...

New reporting from Reuters laid out how DOGE's teenaged senior adviser in the State Department "once provided support to a cybercrime gang that bragged about trafficking in stolen data and cyberstalking an FBI agent."

Cybersecurity reporter Raphael Satter wrote that Edward Coristine's association with the EGodly cybercrime group came to light thanks to digital records reviewed by Reuters.

Coristine has become "the best-known member of DOGE," due to his unfortunate online moniker, "Big B----," and the fact that he holds such a lofty position, despite being just 19 years old. "Musk and others in MAGA have defended the youth of the DOGE team, claiming the whiz kids’ ages should not disqualify them from doing good work," according to The Daily Beast. ...

The Trump administration's emphasis on right-wing ideology has had a chilling effect on life-saving medical research — and the researchers themselves — at the National Institutes of Health, according to a new opinion piece in Bloomburg.

NIH "is the largest source of funding for medical research in the world, creating hundreds of thousands of high-quality jobs," according to the government website. "More than 80% of its $48 billion budget" goes to to fund scientific research at universities and hospitals around the country.

But the website language may be changing now that DOGE has put a halt to NIH funding programs that "didn’t align with the administration’s political ideology," like "LGBT+ health, gender identity, diversity, equity and inclusion; vaccine hesitancy; and mRNA vaccines," the article said. ...

(Reuters) - Senate Finance Committee Chairman Ron Wyden has asked the Obama administration why the United States failed to stop a tax-avoidance strategy used by hedge funds, including John Paulson's Paulson & Co, Bloomberg reported.