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Business News

Location American Business News for 11 April 2025
Amazon CEO Andy Jassy warns Americans cheap prices of everyday goods could be a thing of the past "I'm guessing that sellers will pass that cost on," Jassy said of the cost of tariffs.
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Despite President Donald Trump's 90-day pause on most tariffs, markets are not out of the woods.
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The Pentagon just killed $5.1 billion in IT and consulting contracts with firms like Accenture and Deloitte, calling it 'wasteful spending' Defense Secretary Pete Hegseth said the terminations "represent $5.1 billion in wasteful spending" at the DOD.
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Net interest income, a key measure of what a bank makes on loans, fell 6% year over year to $11.50 billion,
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US stocks fall after China slaps 125% tariff on US imports, escalating trade war After Trump added a 125% tariff on China, bringing the total rate to 145%, the nation responded on Friday morning with a total 125% tax on US imports.
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How Tariffs Could Cause Car Insurance Costs to Rise

The New York Times - 11 Apr 2025 15:00
New tariffs are expected to push up prices of vehicles and car parts, and that could raise premiums as much as 16 percent. Here are some tips on how to try to keep costs down.
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As Trump Upends Global Trade, Europe Sees an Opportunity

The New York Times - 11 Apr 2025 14:56
As Trump Upends Global Trade, Europe Sees an Opportunity Ursula von der Leyen is trying to ensure that if the international trading system is remade, the E.U. is at the center of what comes next.
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TikTok deal becomes casualty of Trump's trade war with China Trump's U-turn on reciprocal tariffs Wednesday that put the trade war on pause for the entire world except China is making a deal all but impossible, sources told On The Money.
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Wall Street bigwigs think it's too early to dive back into stock market -- despite tariffs pause Yeah, there are some stocks of great companies beaten down by the tariff tantrums that look cheap, but overall the market faces a huge problem of being overvalued.
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Block Fined $40M Over Cash App's Crypto Compliance Failures and 169K Ignored Alerts New York hits Block with a $40 million fine and mandates independent oversight after major compliance failures in Cash App’s bitcoin and fiat transaction monitoring. NY Regulator Unleashes Oversight Blitz on Block Afte...
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The legal organization behind a lawsuit challenging President Trump's tariffs is funded by groups linked to Charles Koch and Leonard A. Leo.
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Trump administration adds immigrants to Social Security dead list to encourage self-deportation Immigrant workers put on the list will not be able to legally hold jobs or use financial services
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Verizon has launched My Biz Plan, a customizable wireless plan for small businesses featuring an industry-first three-year price lock and flexible add-ons.
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CFPB looks to rescind nonbank registry, ignore compliance

American Banker - 11 Apr 2025 23:38
CFPB looks to rescind nonbank registry, ignore compliance The Consumer Financial Protection Bureau said it will not enforce or supervise nonbank financial firms that miss upcoming compliance deadlines for the nonbank registry of repeat offenders.
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US Senate bill threatens crypto, AI data centers with fees -- Report Draft legislation in the US Senate threatens to hit data centers serving blockchain networks and artificial intelligence models with fees if they exceed federal emissions targets, according to an April 11 Bloomberg repor...
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What we know about why a tourist helicopter crashed into the Hudson River A former military helicopter pilot says the fatal accident appears to be a result of a "catastrophic mechanical failure." The NTSB is investigating.
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Bridging TradFi and DeFi: Keyrock, Centrifuge Report Touts Tokenization's $50B Bull Case The tokenization of real-world assets (RWAs) is accelerating a fundamental shift in global finance, with blockchain-based U.S. Treasuries, equities, commodities, and private credit poised for exponential growth this year...
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Wells Fargo benefits from improved credit quality

American Banker - 11 Apr 2025 23:27
Wells Fargo benefits from improved credit quality Lower credit costs and better expense control helped the San Francisco-based titan offset the impact of lighter-than-expected revenue.
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We're willing to look through these results because of a key catalyst on the horizon.
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It achieved an 8.0% higher win rate over DeepSeek R1, suggesting that its strengths generalize beyond just logic or math-heavy challenges.
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Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
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Mortgage rates surged over 7% to end the week, after massive volatility in bond markets surrounding President Donald Trump's tariff agenda.
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