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U.S President Donald Trump says he's ordered Treasury Secretary Scott Bessent, to stop production of the one-cent coin, also known as the 'penny'. Trump made his comment on his Truth Social media account.
The U.S. cent or penny has been around since 1793 when the government first issued them. But now it's set to become a thing of the past.
U.S. President Donald Trump has announced that he's asked the Treasury Secretary Scott Bessent to stop producing them.
Trump made the announcement on his Truth Social media account, claiming them as 'wasteful.'
He says they cost more than 2 cents to make.
Since 1909, it has featured President Abraham Lincoln on its copper surface. However, the penny’s relevance has been debated for years, with critics arguing it has outlived its usefulness and often ends up forgotten.
Supporters say the penny helps stabilize prices and benefits charities. If eliminated, prices may be rounded off, simplifying transactions. This change could be a major shift in U.S. currency history.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
Billionaire Elon Musk has vowed to form a new political party if Donald Trump’s massive spending bill is passed by Congress, slamming it as evidence of a “one-party country.”
Russia launched a record 5,337 drones at Ukraine in June alone, marking the most intense month of drone warfare since the start of the full-scale invasion, according to Ukraine’s Air Force.
The U.S. Senate is locked in a marathon voting session over President Donald Trump’s wide-reaching budget proposal, dubbed the 'One Big Beautiful Bill Act,' as it hangs in the balance amid internal Republican divisions and fierce Democratic opposition.
One person was killed and two seriously injured in a stabbing incident by a man with a sharp object at an electric utility company in south-central Germany, police said.
The European Union has extended the restrictive measures on Russia for an additional six months, until 31 January 2026, due to the Moscow's ongoing actions destabilizing the situation in Ukraine.
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