Author: Admin
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Washington — The White House is expected to send Congress a rescissions package in the coming days, looking to claw back congressionally approved funding amid a broader effort to dramatically slash spending.As the administration faces legal challenges to its efforts to slash the U.S. Agency for International Development, public broadcasting and other programs, the White House is looking to Congress to formalize the process and put it on a stronger legal footing. Here’s what to know about rescission:What is the rescission process? The rescission process is a way for Congress to cancel funds it previously appropriated but that the federal government has not…
A few weeks shy of the first anniversary of the terrible October 7 attack on southern Israel by Hamas, and with the ensuing war still raging, Israel’s high-tech sector is still showing its resilience and its appeal. A new official report on the state of the sector published by the Israel Innovation Authority – the government agency dedicated to promoting the national high-tech sector – finds that the ecosystem is largely holding its own after almost 12 months of fighting in Gaza and rapidly escalating tensions with Hezbollah in Lebanon. The resilience of the sector came as a pleasant surprise…
Will Hill FOX Sports Betting Analyst The NBA playoffs are in full swing. There have been huge upsets and stunning comebacks, highlighting what has been a scintillating start to the postseason. Usually, the NBA playoffs — though competitive — are somewhat predictable. This is ironic because this year, the men’s NCAA Tournament, which is typically known for wild finishes and unpredictable results, was pretty straightforward with favorites dominating. It’s as if the NCAA Tournament and NBA playoffs have switched bodies this year.This weekend’s NBA slate, in particular, will provide a ton of drama. The two presumed Eastern Conference finalists face 0-2 deficits. And…
Sunil Mittal, the billionaire-founder of Indian telecom operator Bharti Airtel, is in advanced talks to buy a 49 per cent stake worth $2 billion in the Indian unit of Chinese consumer electronics maker Haier, Bloomberg News reported on Friday.Mittal has partnered with private equity firm Warburg Pincus to buy the stake, and a deal could be signed in a few weeks, Bloomberg reported, citing people familiar with the matter.The talks are ongoing and Haier may decide not to sell, while other buyers could also still emerge, the report said.Haier, Warburg Pincus and Sunil Mittal’s representatives did not immediately respond to…
The State Department’s upcoming staff cuts are more severe than they initially appeared and are expected to impact around 3,400 employees beginning in early June, according to the agency’s briefings with lawmakers and employees with knowledge of the matter.The previously announced 132 office closures as part of Secretary Marco Rubio’s reorganization of State will lead to 700 jobs being eliminated. Only then will Rubio’s goal of 15% cuts go into effect, meaning an additional 2,700 employees will be subject to reductions in force or otherwise leave government. The details, which could be altered before final notices go out, were spelled out in…
In the fast-paced world of finance, staying one step ahead in compliance and risk management isn’t just a goal—it’s a necessity. Transaction monitoring plays a pivotal role in this arena, acting as a powerful tool to detect and prevent fraud, ensure adherence to sanctions, and uphold Anti-Money Laundering (AML) standards. But what makes transaction monitoring so critical, and how can financial institutions ensure they’re doing it effectively? Transaction monitoring isn’t just about tracking the flow of money; it’s about safeguarding the integrity of financial systems and protecting businesses from potential risks and penalties associated with non-compliance. With the right strategies…
David Steiner, a former CEO of the nation’s largest waste management company who currently serves on the FedEx board of directors, is poised to take over control of the U.S. Postal Service, becoming the nation’s 76th postmaster general.The announcement of Steiner’s appointment, which drew immediate concerns from postal unions over possible efforts to privatize the USPS, was made Friday by Amber McReynolds, chairperson of the USPS’ Board of Governors, during a meeting of the independent group that oversees the service.”We anticipate that Mr. Steiner will join the organization in July, assuming his successful completion of the ethics and security clearance…
[HONG KONG] Hong Kong’s efforts to overhaul an image dented by years of turbulence and reestablish itself as an Asian events hub are starting to lure more international visitors beyond mainland China, the city’s tourism chief said.Measures adopted by the Asian financial hub include revamping its dated taxi fleet and improving digital payment systems, Rosanna Law, Hong Kong’s Secretary for Culture, Sports and Tourism, said. The city is also doubling down on hosting major events to lure back the jet set, with a recent concert by British band Coldplay and a move by its annual Rugby Sevens tournament to a flashy…
An artist’s impression of a standard autonomous underwater vehicle. Credit: JesperG via Shutterstock. The Republic of Singapore Navy (RSN) have expanded its fleet of maritime vehicles in the last few days. On 7 May 2025, the Ministry of Defence announced the acquisition of a suite of uncrewed systems for its mine counter measure (MCM) operations, contracting the domestic supplier ST Engineering. The specific systems include uncrewed surface vessels (USVs) and autonomous underwater vehicles (AUVs). However, it is not clear how many of each type the Navy have agreed to purchase. Yesterday (8 May), the government followed this with another announcement:…