Federal Reserve cuts interest rates, trims workforce
The Federal Reserve on Wednesday reduced its benchmark interest rate by a quarter point to a range of 4–4.25%, responding to slowing economic growth...
In a newly issued executive order, the Trump administration has directed the Department of Government Efficiency (DOGE) to expand its review of federal spending by establishing centralized technological systems across all agencies.
The order requires agencies to record contract and grant awards centrally, and mandates that employees who approve individual payments provide written justifications for their decisions.
Under the new directive, agency heads will have the authority to “pause and rapidly review” any payment where a written justification has not been submitted. The EO also extends to federally funded travel, instructing agency leaders, with support from DOGE, to create systems that centrally record approvals for non-essential travel, such as conferences. Once these systems are in place, employees will be required to submit written justifications for such travel expenses.
This move marks the latest expansion of DOGE’s authority to scrutinize federal spending. Earlier this month, DOGE circulated an email to federal employees, urging them to detail their weekly work accomplishments under the threat of termination. According to reports, the information will be analyzed using an AI algorithm to determine whether an employee’s work is deemed mission-critical.
DOGE was established under an executive order signed by President Trump on January 20, 2025, which rebranded the U.S. Digital Service as DOGE and appointed teams of “special government employees” across federal agencies. Comprised largely of young professionals from Elon Musk’s businesses and other private-sector backgrounds, the unit has largely operated without extensive oversight, raising ongoing questions about its cybersecurity and privacy practices.
The latest executive order reflects the administration’s commitment to further tighten federal spending controls and enhance accountability across government agencies.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
China has entered the United Nations’ annual list of the world’s ten most innovative nations for the first time, displacing Germany, Europe’s largest economy, as companies in Beijing ramp up investment in research and development.
Microsoft and OpenAI announced Thursday a non-binding deal outlining terms that would allow OpenAI to restructure into a for-profit company, marking a key step in the high-profile partnership fueling ChatGPT’s growth.
The U.S. Federal Trade Commission has launched an inquiry into seven technology companies over how their AI chatbots interact with children, amid rising concerns about safety and mental health risks.
Nvidia (NVDA.O) announced on Tuesday that it plans to release a new artificial intelligence chip by the end of next year, designed to manage complex tasks like video creation and software development.
Apple (AAPL.O) on Tuesday opened its annual showcase, where it is expected to reveal a new range of iPhones, including a slimmer “Air” model that could foreshadow the launch of a folding phone next year.
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