Intel's Frankfurt-listed shares rise 3.6% after report US could take stake in chipmaker
Intel's U.S. shares (INTC.O), opens new tab surged more than 7% in regular trading Thursday and then another 2.6% after the bell.
Intel on Thursday declined to comment on the report.
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The Independent
24 minutes ago
- The Independent
Some workers would be excluded from student loan forgiveness program for 'illegal' activity
Teachers, social workers, nurses and other public workers would be cut off from a popular student loan cancellation program if the Trump administration finds their employer engaged in activities with a 'substantial illegal purpose,' under a new federal proposal released on Friday. The Education Department took aim at nonprofits or government bodies that work with immigrants and transgender youth, releasing plans to overhaul the Public Service Loan Forgiveness program. Opponents fear the new policy would turn the loan forgiveness benefit into a tool of political retribution. The proposal would give the education secretary the final say in deciding whether a group or government entity should be excluded from the program, which was created by Congress in 2007 to encourage more college graduates to enter lower-paying public service fields. The proposal says illegal activity includes the trafficking or 'chemical castration' of children, illegal immigration and supporting foreign terrorist organizations. 'Chemical castration' is defined as using hormone therapy or drugs that delay puberty — gender-affirming care common for transgender children or teens. President Donald Trump ordered the changes in March, saying the loan forgiveness program was steering taxpayer money to 'activist organizations' that pose a threat to national security and do not serve the public. The public will be given 30 days to weigh in on the proposal before it can be finalized. Any changes would take effect in July 2026. Under current rules, government employees and many nonprofit workers can get their federal student loans canceled after they've made 10 years of payments. The program is open to government workers, including teachers, firefighters and employees of public hospitals, along with nonprofits that focus on certain areas. The new proposal would exclude employees of any organization tied to an activity deemed illegal. The Education Department predicts that fewer than 10 organizations would be deemed ineligible per year. It doesn't expect a 'significant reduction' in the percentage of borrowers who would be granted forgiveness under the program, according to the proposal. Yet the agency acknowledges that not all industries would be affected evenly. Schools, universities, health care providers, social workers and legal services organizations are among those most likely to have their eligibility jeopardized, the department wrote. It did not give more specifics about what 'illegal' actions those groups were taking that could bar them from the program. But the proposal suggests that performing gender-affirming care in the 27 states that outlaw it would be enough. If a state or federal court rules against an employer, that could lead to its expulsion from the program, or if the employer is involved in a legal settlement that includes an admission of wrongdoing. Even without a legal finding, however, the education secretary could determine independently that an organization should be ejected. The secretary could judge whether an organization participated in illegal activity by using a legal standard known as the 'preponderance of the evidence' — meaning it's more likely than not that an accusation is true. Once an organization is barred from the program, its workers' future loan payments would no longer count toward cancellation. They would have to find work at another eligible employer to keep making progress toward forgiveness. A ban from the Education Department would last 10 years or until the employer completed a 'corrective action plan' approved by the secretary. Critics blasted the proposal as an illegal attempt to weaponize student loan cancellation. Kristin McGuire, CEO of the nonprofit Young Invincibles, which advocates for loan forgiveness, called it a political stunt designed to confuse borrowers. 'By using a distorted and overly broad definition of 'illegal activities,' the Trump administration is exploiting the student loan system to attack political opponents,' McGuire said in a statement. The Education Department sketched out its plans for the overhaul during a federal rulemaking process that began in June. The agency gathered a panel of experts to help hash out the details — a process known as negotiated rulemaking. But the panel failed to reach a consensus, which freed the department to move forward with a proposal of its own design. The proposal released on Friday included some changes meant to ease concerns raised by the expert panel. Some had worried the department would ban organizations merely for supporting transgender rights, even if they have no direct involvement in gender-affirming care. The new proposal clarifies that the secretary would not expel organizations for exercising their First Amendment rights. ___ The Associated Press' education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
Reuters
25 minutes ago
- Reuters
Fitch maintains Romania's investment-grade credit rating despite budget strains
Aug 15 (Reuters) - Fitch maintained Romania's coveted investment-grade credit status on Friday, leaving its rating at "BBB-" with a "negative" outlook due to ongoing pressures on the country's finances. "Romania's 'BBB-' rating is supported by EU membership and related capital inflows that support income convergence and external finances," Fitch said. In May, centrist Nicusor Dan won the presidential election runoff, and the new coalition government has recently pushed through a series of tax hikes and spending measures to try and cut the European Union's largest budget deficit.
Daily Mail
25 minutes ago
- Daily Mail
Shocking Ikea flyer from 1985 shows VERY surprising prices... but not everything is what it seems
Swedish homewares giant Ikea is a household name and somehow, 40 years later after their first store opened in the U.S., some of their most popular furniture is even cheaper. A resurfaced flyer from 1985 has Allen-key enthusiasts agog at the price differences, with some of their most-loved furniture cheaper than what it was decades earlier. Shared to Reddit, the user showed four popular products and the price from the catalogue in comparison to what they are on the Ikea website in 2025. The first was the Billy bookcase - a staple in many houses all around the world. In 1985, the load-bearing piece piece retailed for $82, and now has decreased in price, selling for $69.99. The next piece was the simple Lack side table, selling for $25 in 1985. In 2025, the loved-item is retailing now for $9.99. A Klippan loveseat 40 years ago was a tad puffier, but a more streamlined model is now almost $100 cheaper, at $299. Lastly, the catalogue showed an armchair for $148, with the Poäng chair now only $69. The furniture giant pointed out their price cuts in an advertisement published in 2015, which celebrated 30 years of the store being in America and showed off their low prices. While the prices have risen in the last 10 years, they are still lower than the 1985 prices. Despite the cheaper prices, many users chimed in declaring the quality of the furniture is far worse in 2025. 'Surprised how everyone's complaining that IKEA furniture is made more cheaply now than it used to be,' commented one user. 'Like yeah, sure it is, but how many companies have made their product intentionally worse over the years while ALSO doubling or tripling the price? The fact that prices haven't changed much shows at least some integrity on their part.' 'I agree. And while IKEA doesn't make the most durable products on earth, they definitely still make better stuff than comparably-priced products you get at other stores (Amazon, Walmart, etc),' chimed in another. 'You can still get a decent, weighty dresser for $100 at IKEA, best alternative you'll find on Amazon is some super thin particle board with those dreadful fabric pseudo-drawers.' Others declared the Swedish furniture had stood the test of time. 'In general I think IKEA suffers from the reputation flat-pack furniture has that is caused by experiences with flat-pack made by literally any company other than IKEA,' one happy customer wrote. They continued: 'I've bought cheap non-IKEA flat-pack desks and cabinets and it's barely cheaper and so much worse. The parts don't fit together as well, the joints aren't as sturdy, and the instructions are inevitably so much harder to follow assembling it.' The showed four popular products and the price from the catalogue in comparison to what they are on the Ikea website in 2025 (pictured) In June, Ikea announced it was closing more of its smaller-format stores in both the UK and California, as the global retail shakeup continues to claim big names. Launched in 2023, the concept aimed to give customers a more tailored experience — with smaller showrooms where shoppers could meet with design specialists, place custom orders, and collect items. However, the company says the format no longer fits customer demand. The Swedish furniture giant confirmed it is shutting down three of its Plan & Order Points locations this month — two in the UK and one in the US. The Liverpool and Stockport stores closed last week, and the final US location in Long Beach is closing its doors forever in June. The first Ikea store opened in 1958 in Sweden, and expanded to the US in 1985. It has grown into a furniture empire and operates approximately 485 locations, 74 being in the US.
