Explore Business Standard
Donald Trump Administration
House lawmakers were digging into Jeffrey Epstein's sprawling financial portfolio Wednesday as a committee deposed his former accountant and tried to understand his connections to some of the world's wealthiest men. Richard Kahn, who worked closely with Epstein for years and now serves as an executor of his estate, appeared for the closed-door deposition on Capitol Hill. He told lawmakers that he had not personally seen evidence of Epstein's sexual abuse, but provided a fuller picture of how Epstein acquired his wealth. The wealthy financier made hundreds of millions of dollars over two decades during which he struck up friendships with some of the world's most powerful men. Kahn "was under the impression that Epstein made his money as a tax advisor and a financial planner," said Rep. James Comer, the Republican chair of the House Oversight Committee. Lawmakers argued that a fuller picture of Epstein's finances could help the public understand how for years he was able to get away
The State Department will permanently close the US consulate in Peshawar, Pakistan, which has been America's closest diplomatic mission to the Afghan border and was a primary operations and logistics point before, during and after the 2001 invasion of Afghanistan. The department notified Congress this week of its intent to close the consulate and said it would save USD 7.5 million per year, while not adversely affecting its ability to advance US national interests in Pakistan, according to a copy of the notification obtained by The Associated Press on Wednesday. The move has been under consideration for more than a year since the Trump administration began downsizing nearly all federal agencies and is not related to the Iran war, which has sparked protests in various Pakistani cities, including Karachi and Peshawar, where the US consulates temporarily suspended operations. The administration's cuts to the State Department last year included the dismissal of several thousand diplomat
The US imposed travel bans on three Chilean officials over the possible construction of a submarine fiber optic cable with China, while warning Peru against ceding control over a Chinese-built mega port. Under pressure from President Donald Trump, who had threatened to take the Panama Canal back under US control, the Panamanian government seized two ports at either end of the canal that had been run by a Hong Kong company. And when the US captured Venezuela's then-President Nicolas Maduro in January, China saw its extensive interests in the oil-rich country suddenly vulnerable. The Trump administration in recent weeks has taken forceful steps in one Latin American country after another aimed at curbing the influence and economic dominance of China. As part of his quest to restore US preeminence in the Western Hemisphere, the president is hosting Latin American leaders at his golf resort near Miami this weekend for a summit dubbed the "Shield of Americas." Supporters of the White Ho
The Trump administration is following through with its threat to designate artificial intelligence company Anthropic as a supply chain risk in an unprecedented move that could force other government contractors to stop using the AI chatbot, Claude. The Pentagon said in a statement Thursday that it has "officially informed Anthropic leadership that the company and its products are deemed a supply chain risk, effective immediately." The decision appeared to shut down the opportunity for further negotiation with Anthropic, nearly a week after President Donald Trump and Defence Secretary Pete Hegseth accused the company of endangering national security. Trump and Hegseth announced a series of threatened punishments last Friday, on the eve of the Iran war, after Anthropic CEO Dario Amodei refused to back down over concerns the company's products could be used for mass surveillance of Americans or autonomous weapons. The San Francisco-based company didn't immediately respond to a request
A federal panel reviewing President Donald Trump's plans to build a ballroom at the White House got an earful Thursday from members of the public. Most speakers said they opposed the project and criticised it as too big and unnecessary. Only one of the 28 people who addressed the National Capital Planning Commission during the first two hours of public comment at its March meeting spoke in favour of the project. "It's ugly. It's just ugly. It's too much," said Kye Rowan, who described herself as an "ordinary citizen" with no architectural background. Other speakers asked the commission to properly deliberate before making a decision. "I urge you to send this back to the drawing board," said Diane Marlin, who recently retired as mayor of Urbana, Illinois. "Take the time to get this right." Concerns were also raised about Trump's plan to pay the estimated USD 400 million construction cost with money donated by wealthy people and corporations, many of whom have business before the ..
A diplomatic tussle between the United States and Spain over the war in Iran intensified on Wednesday when the governments exchanged contradictory statements over the possible use of Spanish military bases by American armed forces for operations in the Middle East. Moments after a White House spokesperson said that the Spanish government in Madrid had agreed to help the US, Spanish Foreign Minister Jose Manuel Albares came out and flatly denied that the European government had changed its position. "I can refute (the White House spokesperson)," Albares told Spanish radio station Cadena Ser. "The position of the Spanish government regarding the war in the Middle East, the bombing of Iran and the use of our bases has not changed one iota." The disagreement broke out on Tuesday when US President Donald Trump had threatened to cut off trade with Madrid, hours after the Spanish prime minister said that his government wouldn't "be complicit in something that is bad for the world." Albare
In a defeat for the Trump administration, a federal judge in New York ruled Wednesday that companies that paid tariffs struck down last month by Supreme Court are due refunds. Judge Richard Eaton of the US Court of International Trade wrote that "all importers of record'' were "entitled to benefit'' from the Supreme Court ruling that struck down sweeping double-digit import taxes President Donald Trump imposed last year under the 1977 International Emergency Economic Powers Act (IEEPA). The Supreme Court found those tariffs to be unconstitutional under the emergency powers law, including the sweeping "reciprocal" tariffs he levied on nearly every other country. The majority ruled that the president could not unilaterally set and change tariffs because taxation power clearly belongs to Congress. In his ruling, Eaton wrote that he alone "will hear cases pertaining to the refund of IEEPA duties.'' The ruling offers some clarity about the tariff refund process, something the Supreme Cou
Senate Republicans voted down an effort Wednesday to halt President Donald Trump's war against Iran, demonstrating early support for a conflict that has rapidly spread across the Middle East with no clear US exit strategy. The legislation, known as a war powers resolution, failed on a 47-53 vote tally. The vote fell mostly along party lines, though Republican Sen Rand Paul of Kentucky voted in favour and Democratic Sen John Fetterman of Pennsylvania voted against. The war powers resolution gave lawmakers an opportunity to demand congressional approval before any further attacks are carried out. The vote forced them to take a stand on a war shaping the fate of US military members, countless other lives and the future of the region. Underscoring the gravity of the moment, Democratic senators filled the Senate chamber and sat at their desks as the voting got underway. Typically, senators step into the chamber to cast their vote, then leave. "Today every senator - every single one - wi