Trump Signs Order Easing ‘Restrictive' Space Industry Rules
The order directs Transportation Secretary Sean Duffy to work on streamlining the license and permitting process for commercial launch and reentry vehicles to 'eliminate outdated, redundant, or overly restrictive rules,' according to a White House fact sheet.
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Los Angeles Times
a minute ago
- Los Angeles Times
Wall Street finishes its latest winning week with a fade
NEW YORK — U.S. stocks edged back from their record levels on Friday in a quiet finish to another winning week. The Standard & Poor's 500 slipped 0.3% from the all-time high it set the day before, as it closed its fourth winning week in the last five. The Dow Jones Industrial Average flirted with its own record, which was set in December, before ending just below the mark with a rise of 34 points, or 0.1%. The Nasdaq composite dipped 0.4%, though it's still near its record set on Wednesday. The U.S. stock market reached all-time highs this past week as expectations built that the Federal Reserve will deliver a cut to interest rates at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, but they also risk worsening inflation. A disappointing report about inflation at the U.S. wholesale level made traders pare back bets for coming cuts to interest rates on Thursday, but they're still overwhelmingly expecting them. Such anticipation has sent Treasury yields lower in the bond market, though they inched higher Friday following some mixed updates on the economy. One said shoppers boosted their spending at U.S. retailers last month, as economists expected, while another said that manufacturing in New York state unexpectedly grew. A third said industrial production across the country shrank last month, when economists were looking for modest growth. Another report suggested sentiment among U.S. consumers is worsening because of worries about inflation, when economists expected to see a slight improvement. 'Overall, consumers are no longer bracing for the worst-case scenario for the economy feared in April,' when President Donald Trump announced his stunning set of worldwide tariffs, according to Joanne Hsu, director of the University of Michigan's surveys of consumers. 'However, consumers continue to expect both inflation and unemployment to deteriorate in the future.' On Wall Street, UnitedHealth Group jumped 12% after famed investor Warren Buffett's Berkshire Hathaway said it bought nearly 5 million shares of the insurer during the spring, valued at $1.57 billion. Buffett is known for trying to buy good stocks at affordable prices, and UnitedHealth's halved for the year by the end of July because of a run of struggles. Berkshire Hathaway's own stock slipped 0.4%. Applied Materials helped lead Wall Street lower with a decline of 14.1% even though it reported better results for the latest quarter than analysts expected. The focus was on the company's forecast for a drop in revenue during the current quarter. Its products help manufacture semiconductors and advanced displays, and CEO Gary Dickerson pointed to a 'dynamic macroeconomic and policy environment, which is creating increased uncertainty and lower visibility in the near term, including for our China business.' Sandisk fell 4.6% despite reporting a profit for the latest quarter that blew past analysts' expectations. Investors focused instead on the data storage company's forecast for profit in the current quarter, which came up short of Wall Street's. All told, the S&P 500 fell 18.74 points to 6,449.80. The Dow Jones Industrial Average rose 34.86 to 44,946.12, and the Nasdaq composite sank 87.69 to 21,622.98. In stock markets abroad, indexes rose 0.8% in Shanghai but fell 1% in Hong Kong after data showed China's economy may have slowed in July under pressure from uncertainty surrounding Trump's tariffs. 'Chinese economic activity slowed across the board in July, with retail sales, fixed asset investment, and value added of industry growth all reaching the lowest levels of the year. After a strong start, several months of cooling momentum suggest that the economy may need further policy support,' ING Economics said in a market commentary. Japan's Nikkei 225 jumped 1.7% after the government said its economy grew at a better-than-expected pace in the latest quarter. European stock indexes finished mixed before Trump began his meeting with Russian President Vladimir Putin, which could dictate where the war in Ukraine is heading. In the bond market, the yield on the 10-year Treasury rose to 4.31% from 4.29% late Thursday. The two-year Treasury yield, which more closely tracks expectations for Fed action, rose to 3.75% from 3.74% late Thursday. Choe writes for the Associated Press.
New York Post
a minute ago
- New York Post
Russian reporters whine about conditions at Trump-Putin summit — but Moscow may be to blame
Russian reporters are whining about having to sleep on cots and being served old tuna for breakfast while covering the Trump-Putin summit in Alaska — but their own country may actually be to blame. The Kremlin journalists griped that they've had to rough it on portable beds with no sheets set up at the Alaska Airlines Center sports arena in Anchorage, where they were hardly able to make phone calls. They — gasp — even had to get by without bottled water. Advertisement 4 Russian journalists from the Kremlin press pool, arriving in Alaska, were housed in a stadium converted into a temporary accommodation center, with single bunks separated by curtains. x/DD_Geopolitics 'After being assigned for [Thursday] night to what appeared to be a disaster evacuation zone, Russian journalists were being treated to breakfast of tuna mayo left out overnight, some chips, and an unlimited supply of water (from a drinking fountain),'' wrote an irked Margarita Simonyan, editor in chief of the Russian state-run outlet RT. But critics said Russia is at least partly to blame for what its scribes consider practically Third World conditions. Advertisement 4 Workers set up a sign in front of Air Force One for the arrival of U.S. President Donald Trump at Joint Base Elmendorf Richardson on August 15, 2025 in Anchorage, Alaska. Getty Images The country flew roughly 50 of its own 'reporters' over to supposedly cover the event, and it's lucky so many of them got into the US at all, considering the nation's intelligence services regularly send spies to work as 'journalists,'' a security source told The Post. There wasn't much time to vet them or get enough accommodations for quickly planned summit, the source noted. Many US reporters didn't get hotel rooms in the small capital city of roughly 290,000, either. Advertisement 4 Russia's President Vladimir Putin attends a meeting with Magadan region's Governor Sergei Nosov as he visits the far eastern port city of Magadan on the Sea of Okhotsk, Russia. via REUTERS On Friday, footage showed members of the Russian media receiving stepped-up food including breakfast sandwiches, packaged snacks and beverages at the arena, which hosts basketball games on the University of Alaska Anchorage campus. 'Americans finally provide journalists with proper food,' declared the X account Alaska Summit News First. But in some corners, the Russian journos are in no position to complain about the US. Advertisement 4 Russia flew out 50 people to cover the Trump-Putin Alaska summit. Diana Nerozzi / NYPost 'Sanctions mean roaming doesn't really work, so they are stuck on WiFi, and Russia blocked most calls on WhatsApp and telegram the other day,'' wrote Financial Times' Moscow Bureau Chief Max Seddon on X. Start your day with all you need to know Morning Report delivers the latest news, videos, photos and more. Thanks for signing up! Enter your email address Please provide a valid email address. By clicking above you agree to the Terms of Use and Privacy Policy. Never miss a story. Check out more newsletters Another X user wrote, 'So, better treatment than Ukrainians in the occupied territories. 'You have access to running water, something people in occupied Donetsk don't have.
New York Post
a minute ago
- New York Post
Trump's DC crime crackdown is saving the city — and its lawless kids
President Donald Trump's Washington, DC, police takeover is proving once and for all that our cities must give up their soft-on-crime policies — and display more compassion for victims than for criminals. Even if the criminals are kids. In a backward effort to promote 'equity,' progressive lawmakers in Washington and elsewhere have relieved teens of consequences for almost any crime they may commit. Advertisement But all it's done is tell lawbreakers they won't be held accountable for their antisocial actions. By sending in the National Guard, Trump is bringing common sense back to crime fighting and consequences back for those who commit crimes, including minors. It their parents aren't going to make teens control their impulses, law enforcement must. President Donald Trump's Washington, DC, police takeover is proving once and for all that our cities must give up their soft-on-crime policies — and display more compassion for victims than for criminals. Gripas Yuri/ABACA/Shutterstock Advertisement The same progressives who insist every child in America should be free to have an abortion or change their sex have nothing to say to the kids who need them most: urban teens falling into lives of crime and mayhem. It's neither caring nor kind to let kids run wild with no guidance, no guardrails, and few consequences to deter damaging behavior. 'A family court rehabilitation program of yoga and ice cream socials for hardened repeat offenders just doesn't cut it,' US Attorney for DC Jeanine Pirro said Tuesday. She called for an end to local laws that threw out mandatory minimum sentences for young offenders and otherwise coddle them. Advertisement In DC, 56% of all carjackings since 2023 were committed by juveniles, some as young as 12. That's had deadly consequences: In 2021, two girls aged 13 and 15 murdered a DC Uber driver during a carjacking. They were offered plea deals. Teens run wild through DC's Navy Yard, which set a juvenile curfew after a boy shot a stolen gun at a group of other kids. The MPD claims that crime is decreasing in DC, as do leftist pundits who just want to see Trump's policies fail — but in Navy Yard, violent crime is up, along with homicide, robbery and car theft. Advertisement Meanwhile in New York City, juveniles are committing increasing numbers of robberies, assaults and shootings — and other minors are often the victims. NYC saw an increase in arrests of minors for those offenses in 2024, as well as record highs of minor victims: 6,600 assaults and 1,500 robberies — while the state's Raise the Age laws shielded the young perpetrators from criminal prosecution. Is it equitable to allow teens to commit violent crimes against each other without punishment? Pirro is right: Kids who commit serious crimes must be taken seriously. The only way to protect society from their dangerous actions is to hold them accountable. We used to know this. Children and teens need limits. They need to know adults are paying attention to them and setting boundaries on their recklessness. We do teens no favors by letting them believe feral behavior can be tolerated — and we imperil society by letting these ruffians run riot in our cities. Advertisement Trump is making it clear he won't stand for it, taking federal control of DC's Metro Police Department and adding 800 National Guard troops and 500 federal law enforcement agents to beef up patrols. Safety is addictive. America's most prominent cities have bought into terrible policies that go easy on young criminals, and the kids know it. Advertisement Why do our cities care more about protecting wrongdoers from consequences than about protecting the rest of us? Keyboard warriors are complaining that Trump's MPD takeover is nothing but 'political theater,' that DC's sky-high homicide rate — 27.3 per 100,000 residents in 2024, fourth highest in the nation — isn't as bad as it was the year before. They seem to think if DC isn't literally exploding like Fallujah everything's totally fine. Trump knows the nation's capital must be a showplace, a testament to our role in world affairs and our global dominance. Advertisement Democratic Party leaders don't seem to care at all about that, or about the sad state of our murderous youth. They have abandoned them by implementing policies that stop them from taking responsibility for their actions — or even realizing that they should. If the law won't hold them to account, if their parents won't guide them, if kids keep hearing that their circumstances and not their choices are to blame for their bad behavior, then a leader must step in and take charge. Advertisement Trump is acting to save America's youth from themselves — and in doing so, he'll save America's cities, too. Libby Emmons is the editor-in-chief at the Post Millennial.
