
President Trump Reaffirms Tariff Plan
"Balance of Power" focuses on the intersection of politics and global business. On today's show, Mark Zandi, Moody's Analytics Chief Economist shares his thoughts on how President Trump's anticipated tariffs could impact US data and effect inflation, interest rates, and weaken economic growth. Retired General Ben Hodges, Fmr. Commanding General at the US Army Europe, discusses whether or not Russian President Vladimir Putin will accept the Ukraine truce talks and states Putin will likely drag the talks to see what Russia can get out of it. (Source: Bloomberg)
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29 minutes ago
Judge tosses lawsuit over Trump's firing of US African Development Foundation board members
A federal judge has tossed out a lawsuit over President Donald Trump's dismantling of a U.S. federal agency that invests in African small businesses. U.S. District Judge Richard Leon in Washington, D.C., dismissed the case on Tuesday, finding that Trump was acting within his legal authority when he fired the U.S. African Development Foundation's board members in February. In March, the same judge ruled that the administration's removal of most grant money and staff from the congressionally created agency was also legal, as long as the agency was maintained at the minimum level required by law. USADF was created as an independent agency in 1980, and its board members must be confirmed by the U.S. Senate. In 2023, Congress allocated $46 million to the agency to invest in small agricultural and energy infrastructure projects and other economic development initiatives in 22 African countries. On Feb. 19, Trump issued an executive order that said USADF, the U.S. Institute of Peace, the Inter-American Foundation and the Presidio Trust should be scaled back to the minimum presence required by law. At the time, USADF had five of its seven board seats filled. A few days later, an administration official told Ward Brehm that he was fired, and emails were sent to the other board members notifying them that they had also been terminated. Those emails were never received, however, because they were sent to the wrong email addresses. The four board members, believing they still held their posts because they had not been given notice, met in March and passed a resolution appointing Brehm as the president of the board. But Trump had already appointed Pete Marocco as the new chairman of what the administration believed to now be a board of one. Since then, both men have claimed to be the president of the agency, and Brehm filed the lawsuit March 6. Leon said that even though they didn't receive the emails, the four board members were effectively terminated in February, and so they didn't have the authority to appoint Brehm to lead the board. Brehm's attorney, Bradley Girard with Democracy Forward, expressed disappointment with the judge's decision. 'But in our parallel case, Rural Development Innovations v. Marocco, a grantee and two USADF employees have also challenged Marocco's unlawful appointment," Girard wrote in an email. "We are hopeful that the Court will reject the defendants' attempt to ignore the constitutional and statutory requirements for appointing board members to federal agencies.' That lawsuit is still pending before the same judge. In that case, two USADF staffers and a consulting firm based in Zambia that works closely with USADF contend that the Trump administration's efforts to deeply scale back the agency wrongly usurps Congress' powers. They also say Marocco was unlawfully appointed to the board, in part because he was never confirmed by the Senate as required.


Bloomberg
29 minutes ago
- Bloomberg
Unleashing the power of data and technology in an age of digital transformation
Digital transformation projects are nothing new in capital markets, with buy-side and sell-side firms aiming to optimize their technology and data stacks to transform downstream business processes. This article shares how Bloomberg sees digital transformation and the strategies it employs to solve data and technology pain points for its clients.

Yahoo
29 minutes ago
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Washington AG exploring potential challenge to new federal travel restrictions
Jun. 10—Washington is "taking a careful look" at where it has standing to challenge President Donald Trump's recent proclamation restricting travel from 12 countries, Attorney General Nick Brown said during a news conference Tuesday. "The president says his travel ban is about national security, but this racist order will not make anyone safer," Brown said. The restrictions, Brown said, have stalled medical care, "struck fear" into Afghan refugees who previously aided the United States military and could hinder international students looking to study at American universities. "We are actively looking at ways to challenge this ban, but it will be difficult," Brown said, adding that the Supreme Court has upheld other travel bans in recent years. Trump last Wednesday announced that citizens from 12 countries — Afghanistan, Chad, the Democratic Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Myanmar, Somalia, Sudan and Yemen — would be barred from entering the United States. The president also partially banned citizens from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela. In a video posted on social media, Trump said the "strength of the restrictions we're applying depends on the threat posed" and said countries could be added or removed from the list. "But we will not allow people who enter our country who wish to do us harm," Trump said. "And nothing will stop us from keeping America safe." The restrictions continue a trend by Trump, who issued several bans on international travel during his first administration. The first, which barred travel from seven majority-Muslim countries, faced swift backlash and was challenged within days by then-Attorney General Bob Ferguson. "I'll always be proud that Washington state was indeed the first state to take on that first travel ban, the first state to take on Donald Trump, and the first state to defeat Donald Trump in court," Ferguson said. "It is a little difficult to wrap my mind around the fact that we are back here again on another travel ban." Ferguson said that Washington will lead other states on standing up against Trump's orders. "And I want all Washingtonians to know that," Ferguson said. "We have a new attorney general, but guess what? The good news is he is as deeply connected to this issue, and as resolved to stand up against it, as we were eight years ago." Among those feeling the impact of the travel ban is Katia Jasmin, founder and executive director of Creole Resources in Spokane. During an interview Tuesday, Jasmin said the inclusion of Haiti caught her by surprise. Jasmin said the ban could have wide-ranging effects on Spokane's Haitian community, including deepening the existing trauma that many have experienced. Jasmin said the ban could also result in family separation, as many permanent residents or citizens still have family abroad — something she knows firsthand. "I have my brother that lives in Haiti, and he comes to see us, and now he won't be able to come and see us," Jasmin said. Katia's brother, Jay, was set to serve as the best man in an upcoming wedding — plans that seem to be in doubt. "My brother won't be able to see us, so I don't know how long we'll have to wait to be able to see him," Jasmin said. The restrictions, Jasmin said, will ultimately have minimal impact on safety. "If you people are scared of gang members coming to the States, I don't know how we are scared of the gang members; they don't have visas, they don't have anything. I don't think a gang member from Haiti will come here to the United States to do anything," Jasmin said. "So whatever they try to say that it's for, the security or stuff, it's not true."