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NEW YORK — A top official at the Federal Reserve said Saturday that this month’s stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower.

Michelle Bowman was one of two Fed officials who voted a week and a half ago in favor of cutting interest rates. Such a move could help boost the economy by making it cheaper for people to borrow money to buy a house or a car, but it could also threaten to push inflation higher.

Bowman and a fellow dissenter lost out after nine other Fed officials voted to keep interest rates steady, as the Fed has been doing all year. The Fed’s chair, Jerome Powell, has been adamant that he wants to wait for more data about how President Donald Trump’s tariffs are affecting inflation before the Fed makes its next move.

At a speech during a bankers’ conference in Colorado on Saturday, Bowman said that “the latest labor market data reinforce my view” that the Fed should cut interest rates three times this year. The Fed has only three meetings left on the schedule in 2025.

The jobs report that arrived last week, only a couple of days after the Fed voted on interest rates, showed that employers hired far fewer workers last month than economists expected. It also said that hiring in prior months was much lower than initially thought.

On inflation, meanwhile, Bowman said she is getting more confident that Trump’s tariffs “will not present a persistent shock to inflation” and sees it moving closer to the Fed’s 2% target. Inflation has come down substantially since hitting a peak above 9% after the pandemic, but it has been stubbornly remaining above 2%.

The Fed’s job is to keep the job market strong, while keeping a lid on inflation. Its challenge is that it has one main tool to affect both those areas, and helping one by moving interest rates up or down often means hurting the other.

A fear is that Trump’s tariffs could box in the Federal Reserve by sticking the economy in a worst-case scenario called “stagflation,” where the economy stagnates but inflation is high. The Fed has no good tool to fix that, and it would likely have to prioritize either the job market or inflation before helping the other.

On Wall Street, expectations are that the Fed will have to cut interest rates at its next meeting in September after the U.S. jobs report came in so much below economists’ expectations.

Trump has been calling angrily for lower interest rates, often personally insulting Powell while doing so. He has the opportunity to add another person to the Fed’s board of governors after an appointee of former President Joe Biden stepped down recently.

This post appeared first on NBC NEWS

Nvidia and AMD have agreed to share 15% of their revenue from sales to China with the U.S. government, the White House confirmed Monday, sparking debate about whether the move could affect the chip giants’ business and whether Washington might seek similar deals.

In exchange for the revenue cut, the two semiconductor companies will receive export licenses to sell Nvidia’s H20 and AMD’s MI308 chips in China, according to the Financial Times.

“We follow rules the U.S. government sets for our participation in worldwide markets. While we haven’t shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide,” Nvidia said in a statement to NBC News. “America cannot repeat 5G and lose telecommunication leadership. America’s AI tech stack can be the world’s standard if we race.”

AMD said in a statement that its initial license applications to export MI308 chips to China have been approved.

The arrangement crafted by President Donald Trump’s administration is “unusual,” analysts told CNBC, but underscores his transactional nature. Meanwhile, investors see the move as broadly positive for both Nvidia and AMD, which once more secure access to the Chinese market.

Nvidia’s H20 is a chip that has been specifically created to meet export requirements to China. It was previously banned under export curbs, but the company last month said it expected to receive licenses to send the product to China.

Also in July, AMD said it would resume exports of its MI308 chips.

At the time, there was no suggestion that the resumption of sales to China would come with conditions or any kind of revenue forfeiture, and the step was celebrated by markets because of the billions of dollars worth of potential sales to China that were back on the table.

On Monday, Nvidia shares rose modestly, while AMD’s stock was up more than 2%, highlighting how investors believe the latest development is not a major negative for the companies.

“From an investor perspective, it’s still a net positive, 85% of the revenue is better than zero,” Ben Barringer, global technology analyst at Quilter Cheviot, told CNBC.

“The question will be whether Nvidia and AMD adjust their prices by 15% to account for the levy, but ultimately it’s better that they can sell into the market rather than hand the market over entirely to Huawei.”

Huawei is Nvidia and AMD’s closest Chinese rival.

Uncertainty, nevertheless, still looms for both U.S. companies over the longer term.

“In the short term, the deal gives both companies some certainties for their exports to China,’ George Chen, partner and co-chair of the digital practice at The Asia Group, told CNBC. ‘For the long term, we don’t know if the U.S. government may want to take a bigger cut from their China business especially if their sales to China keep growing.’

Multiple analysts told CNBC that the deal is “unusual,” but almost par for the course for Trump.

“It’s a good development, albeit a strange one, and feels like the sort of arrangement you might expect from President Trump, who is a deal-maker at heart. He’s willing to yield, but only if he gets something in return, and this certainly sets an unusual precedent,” Barringer said.

Neil Shah, partner at Counterpoint Research, said the revenue cut is equivalent to an “indirect tariff at source.”

Daniel Newman, CEO of The Futurum Group, also posted Sunday on X that the move is a “sort of ‘tax’ for doing business in China.”

But such deals are unlikely to be cut for other companies.

“I don’t anticipate it extending to other sectors that are just as important to the U.S. economy like software and services,” Nick Patience, practice lead for AI at The Futurum Group, told CNBC.

The U.S. sees semiconductors as a strategic technology, given they underpin so many other tools like artificial intelligence, consumer electronics and even military applications. Washington has therefore put chips under an export control regime unlike that of any other product.

“Semiconductor is a very unique business and the pay-to-play tactic may work for Nvidia and AMD because it’s very much about getting export approval from the U.S. gov,” the Asia Group’s Chen said.

“Other business like Apple and Meta can be more complicated when it comes to their business models and services for China.”

Semiconductors have become a highly sensitive geopolitical topic. Over the last two weeks, China has raised concerns about the security of Nvidia’s chips.

Late last month, Chinese regulators asked Nvidia to “clarify” reports about potential security vulnerabilities and “backdoors.” Nvidia rejected the possibility that its chips have any “backdoors” that would allow anyone to access or control them. On Sunday, Nvidia again denied that its H20 semiconductors have backdoors after accusations from a social media account affiliated with Chinese state media.

China’s state-run newspaper Global Times slammed Washington’s tactics, citing an expert.

“This approach means that the US government has repudiated its original security justification to pressure US chip makers to secure export licenses to China through economic leverage,” the Global Times article said.

The Chinese government is yet to comment on the reported revenue agreement.

Trump’s deal with Nvidia and AMD will likely stir mixed feelings in China. On the one hand, China will be unhappy with the arrangement. On the other hand, Chinese firms will likely want to get their hands on these chips to continue to advance their own AI capabilities.

“For China, it is a conundrum as they need those chips to advance their AI ambitions but also the fee to the US government could make it costlier and there is a doubt of US ‘backdoors’ considering US has agreed for chipmakers to supply,” Counterpoint Research’s Shah said.

— CNBC’s Erin Doherty contributed to this report.

This post appeared first on NBC NEWS

Disney’s ESPN and Fox Corp. are teaming up to offer their upcoming direct-to-consumer streaming services as a bundle, the companies said Monday.

The move comes as media companies look to nab more consumers for their streaming alternatives, and draw them in with sports, in particular.

Last week, both companies announced additional details about the new streaming options. ESPN’s streaming service — which has the same name as the TV network — and Fox’s Fox One will each launch on Aug. 21, ahead of the college football and NFL seasons.

The bundled apps, however, will be available beginning Oct. 2 for $39.99 per month. Separately, ESPN and Fox One will cost $29.99 and $19.99 a month, respectively.

While the bundle will offer sports fans a bigger offering at a discounted rate, the streaming services are not exactly the same.

ESPN’s flagship service will be an all-in-one app that includes all of its live sports and programming from its TV networks, including ESPN2 and the SEC Network, as well as ESPN on Disney-owned ABC. The app will also have fantasy products, new betting tie-ins, studio programming and documentaries.

ESPN will also offer its app as a bundle with Disney’s other streaming services, Disney+ and Hulu, for $35.99 a month. That Disney bundle will cost a discounted $29.99 a month for the first 12 months — the same price as the stand-alone app.

Last week, ESPN further beefed up the content on its streaming app when it inked a deal with the WWE for the U.S. rights to the wrestling league’s biggest live events, including WrestleMania, the Royal Rumble and SummerSlam, beginning in 2026. The sports media giant also reached an agreement with the NFL that will see ESPN acquire the NFL Network and other media assets from the league.

The Fox One service, however, will be a bit different. Fox had been on the sidelines of direct-to-consumer streaming for years after its competitors launched their platforms. Just this year, it said it would offer all of its content — including news and entertainment — from its broadcast and pay TV networks in a streaming offering. Fox One won’t have any exclusive or original content.

Fox’s move into the direct-to-consumer streaming game — outside of its Fox Nation app and the free, ad-supported streamer Tubi — came after it abandoned its efforts to launch Venu, a joint sports streaming venture with Disney and Warner Bros. Discovery.

Both Fox CEO Lachlan Murdoch and Disney CEO Bob Iger said during separate earnings calls last week that they were exploring bundling options with other services. Since Fox announced the Fox One app, Murdoch has said the company would lean into bundles with other streaming services.

“Announcing ESPN as our first bundle partner is evidence of our desire to deliver the best possible value and viewing experience to our shared customers,” said Tony Billetter, SVP of strategy and business development for FOX’s direct to consumer segment, in a release on Monday.

This post appeared first on NBC NEWS

Here’s a quick recap of the crypto landscape for Friday (August 8) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$116,454, down by 0.8 percent over the last 24 hours. Its lowest valuation on Friday was US$115,979, while its highest valuation was US$117,038.

Bitcoin price performance, August 8, 2025.

Chart via TradingView.

An executive order from the Trump administration about the addition of cryptocurrency investment options to federally regulated 401(k) retirement plans could trigger an influx of new capital and drive up Bitcoin’s price.

Separately, over US$1 billion in Bitcoin call options are set to activate if Bitcoin hits US$200,000 on December 26, when US$8.8 billion in options are set to expire; however, experts believe the presence of these call options reflects strategic positioning rather than a widespread belief in a year-end surge to that level. Cointelegraph analyst Marcel Pechman notes that pro traders are using far-out-of-the-money calls in structured strategies like diagonal spreads and inverse butterflies to manage risk and seek asymmetric upside, not as direct bets on extreme price targets.

Ethereum (ETH) was priced at US$4,053, up by 4.9 percent over the past 24 hours and its highest valuation of the day. Its lowest valuation on Friday was US$3,910 at the start of trading.

Altcoin price update

  • Solana (SOL) was priced at US$178.05, up by 3.8 percent over 24 hours. Its lowest valuation on Friday was US$174.86, and its highest was US$179.36.
  • XRP was trading for US$3.30, up by 6.6 percent in the past 24 hours. Its lowest valuation of the day was US$3.22, and its highest price was US$3.35.
  • Sui (SUI) was trading at US$3.85, up 3.1 percent over the past 24 hours. Its lowest valuation of the day was US$3.73, and its highest was US$3.86.
  • Cardano (ADA) was trading at US$0.7964, up by 4.2 percent over 24 hours. Its lowest valuation on Friday was US$0.7787, and its highest was US$0.8022.

Today’s crypto news to know

Trump order opens door for crypto and private equity in 401(k)s

US President Donald Trump has signed an executive order directing the Department of Labor to review its fiduciary rules for retirement plans, potentially clearing the way for assets like cryptocurrencies, private equity and real estate to be included in 401(k)s. While no laws have changed, the move signals a potential shift from the Biden era.

The Employee Retirement Income Security Act still requires fiduciaries to choose “prudent” investments, meaning employers will need to justify the inclusion of volatile or opaque assets. Legal experts say the order could influence how federal agencies interpret the rules, but it won’t override decades of court precedents on fiduciary duty.

For now, employers remain cautious due to the risk of lawsuits over imprudent or overly expensive options. Crypto in 401(k)s remains rare, though large firms like BlackRock are already exploring target-date funds with alternative assets.

SEC and Ripple dismiss appeals, ending lawsuit

Ripple and the US Securities and Exchange Commission (SEC) have dismissed their respective appeals, effectively ending a five-year lawsuit, as per a brief filing on Thursday (August 7) with the Court of Appeals for the Second Circuit.

“Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” Ripple’s chief legal officer, Stuart Alderoty, wrote on X.

The SEC sued Ripple in 2020 for selling XRP as an unregistered security. A July 2023 ruling by Judge Analisa Torres found XRP was not a security when sold on public exchanges, but was when sold to institutional investors.

The SEC appealed, and Ripple cross appealed. However, this past April, both parties filed a joint motion to pause their appeals, hinting at a settlement. They settled in May, asking Torres to dissolve the injunction and lower the US$125 million fine. She denied that in June, stating that Ripple must still follow federal securities laws.

Following the announcement, open interest in XRP grew by over 15 percent in 24 hours and futures volumes rose by over 233 percent, according to Coinglass data.

Parataxis to go public via SPAC merger

Bitcoin asset manager Parataxis announced its plan to go public by merging with a special purpose acquisition company (SPAC) called SilverBox Corp. IV on Wednesday (August 6).

The deal aims to raise up to US$640 million to “support acceleration of digital asset purchases and support long-term strategy.’ It implies a total pro forma equity value of up to US$800 million for the combined company, assuming the US$10 share price and no redemptions. The new public company will be named Parataxis Holdings and will trade on the New York Stock Exchange under the ticker symbol “PRTX.”

The company’s goal is to launch a yield-enhanced Bitcoin treasury strategy in the US and South Korea. The deal also includes an equity line of credit to raise additional funds. This will allow it to continue accumulating Bitcoin.

The company has already allocated US$31 million for an initial Bitcoin purchase.

Fundamental Global files to raise funds for ETH accumulation

Fundamental Global (NASDAQ:FGF), a new Ethereum treasury vehicle, has filed to raise US$5 billion, signaling the potential emergence of a new mega whale in the Ethereum market.

According to a Friday press release, the company aims to use the majority of the proceeds from a potential US$4 billion common stock offering to acquire a 10 percent stake in the Ethereum network.

“This US$5 billion shelf filing represents a significant step in our capital raising capabilities and positions us to move with speed and scale when capital deployment opportunities arise,” said CEO and Chairman Kyle Cerminara.

“We believe this framework will enable us to capitalize on ETH accumulation opportunities and support our target of a 10 percent stake in the Ethereum Network,’ he added.

Binance partners with Spain’s BBVA to bolster asset security

Binance is teaming up with Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second largest bank, to give customers the option of storing their assets with a regulated custodian rather than directly on the exchange.

The arrangement is designed to reassure investors after Binance’s US$4.3 billion fine from US regulators in 2023 over anti-money laundering failures. With BBVA acting as an independent custodian, customer funds would remain secure even if Binance faced hacking, insolvency or further regulatory action.

The partnership leverages BBVA’s strong reputation for compliance and innovation, aiming to encourage more cautious investors to engage with crypto. The move also follows leadership changes at Binance, including founder Changpeng Zhao’s resignation and brief prison sentence, as the company works to repair its image.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

This week saw tech stocks push the Nasdaq Composite (INDEXNASDAQ:.IXIC) to its best week since June.

However, on Monday (August 4), multiple news outlets reported that various Wall Street firms were warning of a near-term drop in the S&P 500 (INDEXSP:.INX) after its strong rally. In a note to clients, Mike Wilson of Morgan Stanley (NYSE:MS) forecasts that tariffs, which went into effect this week, will lead to a 10 percent correction.

“Over the last couple of weeks, we have noted that investors should expect a modest pullback in the third quarter,” Wilson wrote. Julian Emanuel of Evercore (NYSE:EVR) anticipates a 15 percent drop. Additionally, Parag Thatte’s team at Deutsche Bank (NYSE:DB) points to an overdue drawdown following three months of equity expansion.

Markets appear to have disregarded the warnings, as economic data released this week has revived expectations for interest rate cuts. Stephen Miran, US President Donald Trump’s interim selection for Adriana Kugler’s position as chair of the Council of Economic Advisers, has further fueled these expectations. According to CME Group’s (NASDAQ:CME) Fedwatch tool, traders now anticipate a nearly 90 percent probability of a rate cut next month.

Furthermore, exemptions to the Trump administration’s tariffs for companies investing in US manufacturing capacity led to a midweek rally in tech stocks that persisted through to Friday (August 8).

1. OpenAI’s busy week

On Wednesday (August 6), OpenAI unveiled the long-awaited GPT-5 version of ChatGPT, which CEO Sam Altman described as a “significant step” along the path to artificial general intelligence (AGI).

Altman declared that GPT-5 gives users PhD-level expert assistance on any subject, with fewer hallucinations, as well as superior coding abilities that could lead to an era of “software on demand.’

“Something like GPT-5 would be pretty much unimaginable in any other time in history,” he said during a pre-briefing with journalists on Wednesday. While GPT-5 exhibits signs of broad intelligence, Altman clarified that it lacks a key characteristic of AGI: the ability to learn and improve autonomously.

Concurrently, OpenAI for Government announced it is partnering with the US General Services Administration to offer ChatGPT Enterprise to the federal executive branch workforce for US$1 per agency for the next year.

In a statement to Wired, Altman said the agreement was part of Trump’s Artificial Intelligence (AI) Action Plan, which is geared at leveraging AI to better serve the American people.

Additionally, the company reportedly engaged in early discussions this week for a secondary stock sale that would increase its valuation to US$500 billion. During an interview with Schwab Network, Ben Emons, chief investment officer and founder of FedWatch Advisors, said OpenAI’s valuation could hit US$1 trillion.

A recent report by the Information found that OpenAI has hit an annualized run rate of US$12 billion, roughly double the US$6 billion recorded in revenue in the first half of 2025.

OpenAI also introduced a pair of freely available models this week, which Amazon (NASDAQ:AMZN) will offer to cloud-computing clients.

2. Stocks react to chip tariff exemptions

Trump announced plans to impose a nearly 100 percent tariff on semiconductor chips on Wednesday, but carved out an exemption for companies investing in US manufacturing capacity.

After a meeting at the White House, Apple (NASDAQ:AAPL) CEO Tim Cook pledged an additional US$100 billion investment in US manufacturing capacity, bringing its total commitment to US$600 billion over the next four years.

However, final assembly is expected to remain overseas “for a while,” according to Cook, and the announcement did not include any mention of future iPhone assembly in the US.

Apple performance, August 5 to 8, 2025.

Chart via Google Finance.

The pledge led to a significant market reaction, with Apple shares climbing over 4 percent, leading gains on Wall Street.

Taiwan Semiconductor Manufacturing Company (NYSE:TSM) also saw strong gains after it was reported that National Development Council Chief Liu Chin-ching told parliament that the company will be exempt since it has factories in the US, referring to fabrication plants currently under construction in Arizona.

However, he added that some of Taiwan’s chipmakers will be affected.

Likewise, South Korean trade officials stated that Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) will both avoid the tariffs due to their investments in US manufacturing facilities. Samsung has two chip fabrication plants in Texas, while SK Hynix is building a new advanced chip packaging and R&D facility in Indiana.

3. Firefly Aerospace makes explosive Nasdaq debut

Firefly Aerospace (NASDAQ:FLY) made a strong debut on the Nasdaq Global Market on Thursday (August 7).

The stock opened at US$70 per share, a significant jump from its initial public offering price of US$45.

After first targeting between US$35 and US$39 per share, the company raised the price from US$41 to US$43 on Tuesday (August 5). Firefly was valued at over US$2 billion after a Series D funding round in November 2024.

Its opening price represented a further increase. After briefly topping US$73.80, the company closed its first day on the market at US$60.35, raising US$868.3 million and achieving a valuation of approximately US$8.5 billion.

The company experienced a moderate pullback on Friday, opening at US$54.85 before briefly touching US$57.07; it then closed the week at US$50.17.

4. Tesla desbands Dojo team

Tesla (NASDAQ:TSLA) CEO Elon Musk confirmed reports that the company is disbanding its Dojo supercomputer team, posting to X on Thursday evening:

“It doesn’t make sense for Tesla to divide its resources and scale two quite different AI chip designs.

“The Tesla AI5, AI6 and subsequent chips will be excellent for inference and at least pretty good for training. All effort is focused on that.”

Tesla intended for Dojo to facilitate the training of its Autopilot and Full Self-Driving systems.

Sources for Bloomberg, which first reported the story, said Tesla will rely on partners like NVIDIA (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD) and Samsung for chip manufacturing.

This move contradicts Musk’s commitments to “double down on Dojo” during his company’s second quarter earnings call on July 23. The development follows a letter sent to shareholders by two Tesla directors on Monday explaining the board’s decision to grant Musk a US$23.7 billion stock award.

Robyn Denholm, chair of Tesla’s board of directors, and Kathleen Wilson-Thompson, a director, said the decision was driven by Tesla’s transition from electric vehicles to AI and robotics.

The letter emphasizes the critical need to motivate Musk, stating that his involvement is essential for attracting and retaining talent at Tesla, especially as competition for AI talent intensifies.

5. Palantir reports solid growth in Q2

Major software company Palantir Technologies (NASDAQ:PLTR) reported its Q2 earnings on Monday, revealing revenue growth of 48 percent to US$1.003 billion. Shares of the company opened over 7 percent higher on Tuesday and continued to rise, finishing the week up nearly 18 percent.

Palantir Technologies performance, August 5 to 8, 2025.

Chart via Google Finance.

“This was a phenomenal quarter. We continue to see the astonishing impact of AI leverage,’ said Alex C. Karp, co-founder and CEO of Palantir, in a press release. “We are guiding to the highest sequential quarterly revenue growth in our company’s history, representing 50 percent year-over-year growth.”

Free cashflow rose by 282 percent to US$568.7 million. The company is projecting further revenue growth of around 49 percent in the third quarter. Its share price is up over 145 percent year-to-date after starting the year at US$76.20. As of Friday’s closing bell, shares of Palantir were trading for US$186.96.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Ukrainian President Volodymyr Zelenskyy on Sunday thanked European leaders for backing his push to join this week’s U.S.–Russia summit, as Kyiv fears Washington and Moscow could strike a deal to end the war but in a way that undermines Ukraine’s sovereignty.

‘The end of the war must be fair, and I am grateful to everyone who stands with Ukraine and our people today for the sake of peace in Ukraine, which is defending the vital security interests of our European nations,’ Zelenskyy said.

The leaders of Britain, France, Germany, Italy, Poland, Finland and the European Commission said in a joint statement that any diplomatic solution brokered between President Donald Trump and Russian President Vladimir Putin must protect the security interests of Ukraine and Europe.

‘The U.S. has the power to force Russia to negotiate seriously,’ EU foreign policy chief Kaja Kallas told Reuters on Sunday. ‘Any deal between the U.S. and Russia must have Ukraine and the EU included, for it is a matter of Ukraine’s and the whole of Europe’s security,’ she added.

NATO Secretary General Mark Rutte said the upcoming summit ‘will be about testing Putin’ and will serve as a measure of how serious the Russian leader is about ‘bringing this terrible war to an end.’

Both the White House and the Kremlin have acknowledged Zelenskyy’s request to join the talks, though no formal invitation has been issued. Trump and Putin are scheduled to meet in Alaska on Aug. 15. If Zelenskyy were to take part, the meeting would mark the first between Putin and Zelenskyy since the start of Moscow’s war.

The meeting, which Trump announced in a Truth Social post on Friday, comes on the heels of Washington’s threats to impose steep tariffs on the Kremlin and its allies.

Trump has previously singled out countries like India and China—top buyers of discounted Russian crude — for undermining G7 price caps and weakening the impact of Western sanctions.

In response, bipartisan lawmakers introduced the Sanctioning Russia Act, which would impose a 500% tariff targeting the core of Russia’s economy — its oil and gas exports — if Moscow continues to resist peace efforts or escalates the conflict.

Meanwhile, a senior member of Putin’s inner circle warned that multiple countries are mounting ‘titanic efforts’ to undermine the upcoming summit between the Russian leader and Trump.

‘Undoubtedly, a number of countries interested in continuing the conflict will make titanic efforts to disrupt the planned meeting between President Putin and President Trump,’ wrote Russia’s investment envoy, Kirill Dmitriev, in a Telegram post on Saturday, referencing the Kremlin’s ongoing war in Ukraine.

While Dmitriev did not name specific countries, he warned that critics of the upcoming talks could seek to sabotage the summit through diplomatic maneuvers or disinformation through the media.

This post appeared first on FOX NEWS

President Donald Trump will use the upcoming summit with Russian President Vladimir Putin to test how serious Putin is about ending the war with Ukraine, NATO Secretary General Mark Rutte said Sunday.

Rutte told ABC’s ‘This Week’ that the meeting comes as Trump continues to put pressure on Putin, noting the recent secondary sanctions on countries like India, which purchased Russian oil, and delivering lethal weapons to Ukraine.

‘Next Friday will be important because it will be about testing Putin, how serious he is on bringing this terrible war to an end,’ Rutte said.

Trump announced the first in-person meeting with Putin since Moscow launched its deadly invasion of Ukraine in 2022 in a Truth Social post on Saturday. The leaders are expected to meet in Alaska on Friday, Aug. 15.

In recent weeks, Trump has refused to mince words when asked about Putin. Trump said during a Cabinet meeting July 8 he was fed up with Putin and said he was eyeing potentially imposing new sanctions on Russia. 

The NATO chief called the upcoming meeting ‘an important step’ in the process of reaching full-scale peace negotiations between Russia and Ukraine.

Ukrainian President Volodymyr Zelenskyy, however, wasn’t expected to be at the summit with Trump and Putin as of Sunday. Despite Zelenskyy’s absence, Rutte said ‘we need Ukraine at the table.’

‘It will be about territory,’ Rutte said of the upcoming meeting. ‘It will, of course, be about security guarantees, but also about the absolute need to acknowledge that Ukraine decides on its own future, that Ukraine has to be a sovereign nation deciding on its geopolitical future, of course having no limitations to its own military troop levels, and for NATO to have no limitations on our presence on the eastern flank in countries like Latvia, Estonia and Finland.’

U.S. Ambassador to NATO Matthew Whitaker told CNN on Sunday that no decision had been made at this point about whether Zelenskyy would be invited to the meeting.

‘If [Trump] thinks that that is the best scenario to invite Zelenskyy, then he’ll do that,’ Whitaker said, adding that ‘there’s time to make that decision.’

When asked about whether Putin can be trusted, Whitaker said that in any situation of competing national interests it will be actions, not words, that decide whether peace is achieved and preserved.

‘Words are cheap, but in this case, whether it’s the Russians or the Ukrainians, both sides are going to have to take the actions to have peace and to continue to honor that peace,’ he said.

Fox News Digital’s Diana Stancy contributed to this report.

This post appeared first on FOX NEWS

President Donald Trump recently spoke to the South Carolina Republican Party’s Silver Elephant Gala through a phone that Sen. Lindsey Graham held up to a microphone.

Trump, who endorsed Graham for re-election earlier this year, continued expressing his support for the senator while speaking on the phone.

Trump said the senator has his ‘full endorsement,’ calling him a ‘great guy,’ saying that Graham has always been there for him when he needed him and he ‘won’t forget it.’

‘Thank you for your surprise call, Mr. President!’ Graham said in a post on X that also featured footage of Trump’s remarks about him. 

‘With your support, I’ll keep delivering the America First agenda to the great people of South Carolina. I’m glad to have been part of the most awesome six months in modern history led by President @realDonaldTrump.’

Graham, who has served in the Senate since 2003, is facing Republican primary challengers.

Paul Dans, the former director of the 2025 Presidential Transition Project at the Heritage Foundation and who is one of Graham’s challengers, attended the event where Trump spoke by phone.

‘Lindsey Graham’s terrified—his Senate seat’s at risk against me, his toughest challenger yet. After 32 years of broken term-limit promises, he’s done. Clinging to President Trump won’t save him from SC’s America First Patriots who see his grift. #LindseyPanic #PrezTrumpPlsHelpMe,’ Dans wrote in a post on X.

Graham will be up for re-election in 2026.

This post appeared first on FOX NEWS

House GOP fiscal hawks have requested tens of millions of federal dollars for projects in their home districts for fiscal year 2026, an analysis by Fox News Digital has found.

It’s common practice for congressional lawmakers to request funding for specific community initiatives for the people they represent – measures called ‘earmarks.’ Critics of such funding have often referred to it as ‘pork,’ however.

This coming fiscal year, beginning on Oct. 1, is no different – both Republicans and Democrats have requests totaling over a billion dollars in earmarks so far. 

That includes conservatives in the House of Representatives who have been known to criticize what they describe as excessive or bloated government spending.

House Freedom Caucus Chair Andy Harris, R-Md., for instance, has been approved for more than $55 million in federal funding for projects in his district. 

The figure includes $9 million for the Middle River Fire Company to make improvements and upgrades to its facilities, and $1 million for the development of a Doctor of Veterinary Medicine program at the University of Maryland Eastern Shore. 

The majority of Harris’ requests are aimed at rural development in his district and the Army Corps of Engineers. Three earmarks were requested for clean water initiatives.

Harris told Fox News Digital when reached for comment on the funds, ‘These awards are certified to directly benefit taxpayers in the district—drawing from existing grant programs that are funded annually. It’s far better for elected members of Congress to designate where that money goes than to leave those decisions to unelected federal bureaucrats. There are no additional funds appropriated for Community Project Funding – they all fall within the agency’s appropriation.’

Rep. Tim Burchett, R-Tenn., a self-described deficit hawk, was approved for just over $10 million so far. That includes over $4 million for Flexible Neutron Source, a research tool at the University of Tennessee, and $2 million for veterans housing in Knox County.

House Freedom Caucus member Rep. Clay Higgins, R-La., was approved for more than $18 million in earmarks – with the largest request being $4,200,000 for the Silicon Bayou Semiconductor Technology Center at the University of Louisiana, Lafayette.

Higgins’ total sum also includes funding for Army Corps of Engineers projects, as well as rural hospital, law enforcement and clean water initiatives.

He also submitted a joint request with House Majority Leader Steve Scalise, R-La., for $131,500,000 toward a levee and floodgate system, called the Morganza to the Gulf of Mexico Project, aimed at storm damage prevention.

Rep. Lauren Boebert, R-Colo., another member of the House Freedom Caucus, got nearly $15 million in community funding projects approved, chiefly aimed at clean water programs and highway infrastructure.

Boebert was vehemently against earmarks when she first came to Congress. Her opinion has changed since then, however, due to Republican-led changes to the process – which she explained in a 2023 op-ed in the Aspen Times.

She made a similar argument to Fox News Digital when reached for this story: ‘I fought for real reforms to the appropriations process in 2023 to make sure my constituents’ tax dollars go to necessary infrastructure projects, not the wasteful and corrupt spending schemes that took place under Nancy Pelosi.’

‘My district’s roads are crumbling, and our water keeps getting sent to California, where it’s wasted, because Colorado’s politicians won’t invest in water storage or infrastructure investments. My constituents pay federal taxes just like everyone else, and they should see their dollars benefit their communities instead of being sent to sanctuary cities like Denver,’ Boebert said.

Conservative libertarian Rep. Thomas Massie, R-Ky., also got some community funding, though only totaling $5 million approved so far. Massie’s requests so far are all focused on construction and rehabilitation for Cincinnati/Northern Kentucky International Airport.

Massie told Fox News Digital of the funding, ‘I serve on the Transportation and Infrastructure Committee because I believe the federal government has a legitimate role in transportation infrastructure, and the legislature has the constitutional authority to direct the funding of those projects.’

‘In fact, I have voted in the GOP conference more than once to restore congressionally directed spending in the context of transportation infrastructure,’ Massie said.

And Rep. Marjorie Taylor Greene, R-Ga., chair of the subcommittee for Delivering on Government Efficiency (DOGE), got nearly $10 million in earmarks approved for her rural-suburban Georgia district. 

Those funding requests are largely comprised of infrastructure initiatives, clean water programs, and law enforcement-related projects for Floyd County and other areas.

While known as a fiscal hawk, it’s worth noting that the majority of Greene’s criticism of government spending is directed at foreign aid.

Greene said she was glad to be able to provide for her district when reached for comment by Fox News Digital.

‘I’m proud to bring federal tax dollars back home to Northwest Georgia – where they belong. My constituents work hard, and for far too long, Washington has sent their money to fund foreign wars, foreign governments and globalist pet projects. When I first got to Congress, I opposed the earmark process because I believed it was a tool of the Swamp. But after seeing how it works today, I’ve realized that if we don’t fight to bring money back to our districts, the money goes elsewhere,’ Greene said.

‘I’ll never support billions for Ukraine or other endless wars, but I will absolutely fight to secure critical investments in Northwest Georgia, from water systems and sewer expansions to public safety equipment, roads and broadband.’

The aforementioned lawmakers’ spending requests are far from an exhaustive total list across the entire House, but fiscal conservatives’ earmark proposals show just how widespread the practice is within Congress – on both sides of the aisle.

Republicans have made some changes to the process as of FY2025, however, to narrow what’s allowed.

In an effort to block out funding requests for ‘woke’ or socially progressive policies, GOP appropriators have barred earmarks for most nonprofit organizations.

That move likely saved hundreds of millions of dollars in annual spending, but Democrats decried it as a block on federal funding for LGBT initiatives.

Fox News Digital reached out to spokespeople for Burchett and Higgins for comment but did not receive a response.

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