Russia Says It Will Keep Selling Oil to India Despite US Tariffs
India's imports of Russian crude are likely to stay at current levels, Evgeny Griva, the deputy trade representative of Russia in India, told reporters in New Delhi on Wednesday.
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Yahoo
26 minutes ago
- Yahoo
Trump administration not eyeing equity in companies that are increasing US investment, WSJ reports
(Reuters) -The Trump administration is considering taking equity stakes in companies receiving funds from the 2022 CHIPS Act but has no plans to seek shares in bigger semiconductor firms that are increasing their U.S. investments, the Wall Street Journal reported on Thursday, citing a government official. The development follows comments made by U.S. Commerce Secretary Howard Lutnick, who on Tuesday said the government is continuing to work on the possibility of taking a 10% stake in troubled chipmaker Intel. However, the administration does not intend to take equity stakes in companies like TSMC, which are ramping up investment, the official told the Journal. Businesses not increasing their commitments may need to offer equity to the government in exchange for subsidies. "The Commerce Department is not looking to take equity from TSMC and Micron," the official told WSJ. TSMC executives have already had discussions about giving back their subsidies if the administration asks to become a shareholder, according to the report. The White House and TSMC did not immediately respond to Reuters' requests for comment. TSMC, which counts Nvidia and Apple as key clients, announced plans for a $100 billion investment in the United States during an event with President Donald Trump at the White House in March. This investment is in addition to $65 billion committed for three manufacturing facilities in the state of Arizona. The U.S. Commerce Department, which oversees the $52.7 billion CHIPS Act, formally known as the CHIPS and Science Act, late last year finalized subsidies of $6.6 billion for TSMC to produce semiconductors in the United States. Besides Intel, Micron, TSMC and Samsung were among the biggest recipients of CHIPS Act funding. In the past, the U.S. government has taken stakes in companies during periods of economic uncertainty to provide financial support and restore confidence. Sign in to access your portfolio
Yahoo
26 minutes ago
- Yahoo
'It's alarming': Education Department revokes guidance on English learning services
The U.S. Education Department has rescinded critical guidance to schools regarding how they provide English language learning services for roughly 5 million students in U.S. schools. The Education Department on Tuesday rescinded a 2015 Dear Colleague letter on its website, which served as a guide for school districts that are serving English learners to ensure they're providing adequate resources to their students under Title VI of the 1964 Civil Rights Act. In a statement to ABC News, the Education Department said the document was "overly prescriptive" and that it micro-managed states. MORE: Immigrant families fear Trump's deportations as children return to school "States have vastly different needs for this important population of students and are best equipped to determine how best to educate these students while following all applicable federal laws," the department said in the statement. The document is still available online for "historical purposes only," according to a notice. The Washington Post was the first to report the guidance had been rescinded. Advocates worry the decision removes federal oversight and accountability, which could lead to school districts opting to discriminate against English learners. Despite those concerns, removing the guidance does not strip resources from schools nor does it alter state curriculums, which are handled by state and local agencies. Roxanne Garza, director of higher education policy at the Education Trust, suggested the move could further the fears of immigrant students wary of returning to school amid the Trump administration's measures to curb illegal migration. "I think it could add to the overall feeling of fear -- like making these people, these families, feel like they don't belong in their communities." MORE: Education leaders split on how Department of Education cuts will affect families Montserrat Garibay, former assistant deputy secretary and director of the Office of English Language Acquisition (OELA) during the Biden administration, equated the now-rescinded English-learners document to the Bible for English language instructors. During her tenure, she said the letter was instrumental to her office in providing resources to the students who needed it most. Garibay, who said nearly three quarters of students in English Language Acquisition programming are U.S. citizens, argued the move could have a lasting impact if it results in scaled-back resources. "These are children who eventually are going to be paying our Medicare and Medicaid, right? Our Social Security, because they are U.S. citizens. And it's outrageous that we are not providing them with the resources that they need to be successful in the 21st century." Garibay also said lifting the long-standing guidance appears to fly in the face of an executive order Trump signed earlier this year designating English as the official language of the United States. Education advocates decried the agency's decision. MORE: Trump admin live updates: US, European Union announce 'Framework Agreement' on trade ImmSchools Co-Founder Viridiana Carrizales told ABC News "It's alarming because, you know, it feels like this administration is stripping away every right, every protection, funding, access to resources etc. that are so critical for those 5 million students in the country who are learning English." Carrizales, whose organization partners with school districts to create more welcoming and safe schools for K-12 immigrant students, said the recent move is a significant shift for classroom educators because immigrant protections, overall, are "diminishing." "We're hearing a lot more concerns from educators themselves, who're trying to figure out how they can meet and support this population when their resources and protections are being taken away," she said. Anne Kelsey, senior policy analyst for disability rights at the Young Center for Immigrant Children's Rights, argued the decision will harm immigrant children and families. "Language access is a fundamental right that builds safer, smarter, and more connected communities, and ensures children can receive a full and fair education while keeping their parents actively involved," Kelsey wrote in a statement to ABC News, adding "These programs welcome parents and families fully into the school community and we know it leads to stronger educational outcomes for students." The effort to return education responsibilities and decisions to the states is arguably President Donald Trump's top K-12 education priority. Secretary of Education Linda McMahon kicked off her 50-state "Returning Education to the States" tour last week.
Bloomberg
26 minutes ago
- Bloomberg
Trump Visits Police, Military Patrolling DC
"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Former Vice President Mike Pence shares his thoughts on President Trump calling for Federal Reserve Governor Lisa Cook to resign hoping these allegations are not part of a pressure campaign. Don Vultaggio, AriZona Beverage Company Co-Founder & Chairman, discusses how. President Trump's tariffs are threatening to increase the price tag of the company's iced teas. Federal Reserve Bank of Chicago President Austan Goolsbee discusses the "mixed messages" being sent by recent US economic data. (Source: Bloomberg)
