President Trump on Wednesdaysettled a lawsuit that will require Meta to pay about $25 million, most of which will fund a presidential library,multipleoutletsreported and a source familiar confirmed to Axios.
Why it matters: Meta shut down Trump's Facebook and Instagram accounts for about two yearsafter the Jan. 6 Capitol riot. However, since Trump's reelection, CEO Mark Zuckerberg has cozied up to the new administration.
Commerce secretary nominee Howard Lutnick said Wednesday he supports continuing the department's Minority Business Development Agency (MBDA).
Why it matters: His stance potentially contrasts with the White House's moves to drive diversity, equity and inclusion programs out of the federal government.
Crime on blockchains will be no match for artificial intelligence, Commerce secretary nominee Howard Lutnick said Wednesday.
Why it matters: Billions of dollars of crime and terrorist financing is estimated to be transmitted using digital assets each year, though that represents a tiny portion of the overall digital asset volume.
Why it matters: The Fed is halting rate cuts as inflation looks more persistent, with some officials worried Trump's economic agenda might further ignite price pressures.
Trump Media and Technology Group, the parent company of Truth Social, announced a plan to expand into financial services — including customized investment vehicles geared toward conservatives.
Why it matters: Shares in TMTG, which is majority owned by President Trump, jumped more than 11% Wednesday on the news.
Government employees who accept the president's offer to resign and get paid through the end of September are not expected to keep working, a senior White House official confirmed to Axios Wednesday morning.
Why it matters: Federal workers have been confused since the offer went out Tuesday afternoon.
Frontier Group has revived its efforts to merge with rival Spirit Airlines, which rejected the offer and said it's prepared to exit bankruptcy later this quarter.
Why it matters: This highlights the fragile economics of budget air travel, and also a broader belief that the Trump administration will be easier on antitrust than was its predecessor.
Investors in energy stocks panicked this week over the release of a new, cheaper AI model, ignoring an argument that reducing the energy needs of such models could actually increase demand for energy overall.
Why it matters: The news could end up being bullish for those stocks, which lost more than $40 billion in value on Monday.
President Trump ordered a temporary pause on federal grant, loan and financial assistance programs this week — but lawmakers and legal experts say the move is illegal, as he needs Congress' approval to suspend funding.
The big picture: The freeze that a federal judge on Tuesday temporarily halted could face trouble in Congress, where Democrats have indicated a lawsuit is forthcoming.
As President Trump pushes for Greenland to join the U.S., a new poll finds 85% of the semi-autonomous Danish territory's residents oppose the move.
Why it matters: Trump has stepped up his push for Greenland since he won November's election despite the territory's leader and Denmark's prime minister saying it's not for sale and told reporters Saturday he thinks the U.S. is "going to have" the Arctic island, claiming its 57,000 residents "want to be with us."
The White House issued a memo Tuesday offering to pay federal workers who don't want to return to the office through Sept. 30, as long as they resign by Feb. 6.
Why it matters: The action, first reported by Axios, marks an acceleration in President Trump's already unprecedented purge of the federal workforce.
