Author: Leslie Stewart

MathisWorks | DigitalVision Vectors | Getty ImagesElon Musk has ended the government’s cost-cutting initiative, which has led to thousands of federal job cuts, but the massive layoffs are still shaking America.The pressure for businesses to cut costs is increasing against the global economic uncertainty brought about by President Donald Trump’s tariff policies. Several companies have announced prices rise. Layoffs show how to pull back another way.Trade tensions also raise concerns about the general health and job markets of the US economy. Work reading in April was better than expected, but another reading from ADP this week showed that private sector…

The US deficit with global trading partners fell at the largest amount on record in April as businesses and consumers stopped rushing to get imports ahead of President Donald Trump’s tariffs.A Commerce Department report on Thursday said the deficit slipped to $61.6 billion following a record surge in trade imbalances, with a $76.7 billion decline from the previous month and a Dow Jones consensus below $66.3 billion.The move reverses the massive surge in imports that preceded Trump’s April 2nd release of “liberation day.”In a move that was even more aggressive than expected, Trump slapped 10% of the US import obligations…

Opinion: Elias Vilochkin, Chief Product Officer, ChangenowBitcoin’s optimism is naturally rising. US President Donald Trump’s trade agreement with the UK provides a shock of trust in the global market, with Bitcoin (BTC) benefiting as the ultimate borderless asset.But what unfolds behind the offensive push for the Trump administration to deregulate the crypto industry is a unifying power that ignores many and supports the minority.Cryptocurrency was designed for everyday people. This is someone who had enough of an opaque financial system that prioritized profits over people’s interests. Bitcoin emerged from the ashes of the 2008 financial crisis as a fundamental experiment…

The use of low-cost e-commerce giants Temu and Shein has been significantly slower in major US markets amid the tariffs of President Donald Trump on Chinese imports and closing the De Minimis loophole, new data shows.Temu’s US Daily Active users (DAUS) fell 52% in May and March before Trump’s tariffs were announced, but tariffs on rival scene fell 25%, according to data shared by CNBC.Daus is a measure of the number of people visiting or interacting with the platform every 24 hours. Monthly Active Users (MAUS) is a measure of 30-day user engagement, with a decline in Temu (30%) and…

Disclosure: The opinions and opinions expressed here belong to the authors solely and do not represent the views or opinions of the crypto.news editorial. The recent Movement Foundation (Move) Token Meltdown appears to have dumped millions of tokens shortly after the list, but it’s yet another case study of the dysfunction of the Web3 market. Crypto is rooted in innovation and technical rigor, but too often, it lacks more basic things. Management and financial maturity. Most Web3 tokens are released by teams with strong technical capabilities but with little financial experience or discipline. These are engineers and visionary teams. Although…

Fast forward to 2025. He was probably educated by a campaign check in the American Crypto-lobby and the sweat fairness given to his family, Trump. The pen strokes have dismantled many of the regulatory guardrails once deemed essential. Soon the Trump family entered the crypto business. One of their earliest strategic partners was Pakistan, a province linked to cross-border terrorism, shady finances and intense diversion of funds. Also Read: Crypto Brothers Win: Shrug and Don’t Go To Go What should India do with the superpower where political leaders launch private currency? Or a country where former prisoners are rehabilitated as…

President Donald Trump signed a declaration Wednesday that bans citizens from 12 countries, including Afghanistan, Haiti and the Democratic Republic of the Congo, from entering the United States, framing travel bans as needed to strengthen one of his first term’s most controversial policies.”I have directed the Secretary of State to coordinate with the Attorney General, the Secretary of Homeland Security and the Director of National Intelligence to identify countries that are incredibly scarce to ensure a full or partial suspension of hospitalizations of citizens from those countries because of the very lack of review and screening information.”Trump has banned 12…

Following the company’s bankruptcy in Torrance, California on May 27, 2025, closure signs for the store where customers shop are on display on the last day of the store at Joanne’s fabric and craft location in the shopping mall.Patrick T. Fallon | AFP | Getty ImagesAccording to a Federal Reserve report on Wednesday, the US economy has been contracting for the past six weeks as it is slowing employment and consumers and businesses worry about tariff-related price increases.In a periodic summary of the terms of “beige book,” the central bank said that “economic activity has declined slightly” since the “previous…

Johnson & Johnson Manufacturing Facility in Wilson, North Carolina.Courtesy: Johnson & JohnsonData from the New York Federal Reserve System shows that the majority of companies are communicating at least a portion of President Donald Trump’s tariff president to clients.In May, about 77% of service companies whose costs increased as tariffs were passed on at least some customers due to increased U.S. tariffs, according to a New York Fed survey released Wednesday. Approximately 75% of the manufacturers surveyed said the same thing.In fact, more than 30% of manufacturers and about 45% of service companies have passed all the high costs for…

Private sector job creation slowed to near-stop in May, reaching its lowest level in more than two years as signs of weakening the labour market were revealed, pay processing company ADP reported Wednesday.Payroll increased just 37,000 that month, below the downward revision of 60,000 in April, with the Dow Jones projected at 110,000. This was the lowest monthly total job offer since March 2023.The report will be made two days before the number of non-farm salaries that are more closely monitored by the Bureau of Labor Statistics is counted. This is expected to indicate a stable profit of 125,000 and…