Microsoft confirmed it is laying off 3% of its global workforce, affecting an estimated 6,840 employees across all divisions. The cuts, which began Tuesday, will impact staff in the U.S. and abroad, including teams at LinkedIn and Xbox.
President Donald Trump is set to sign a new executive order rolling back federal restrictions on commercial fishing in the Atlantic, fulfilling a campaign promise to support America’s fishermen and promote economic growth in coastal communities. The move revokes protections originally enacted by former President Barack Obama and later reinstated by President Joe Biden.
The Federal Trade Commission (FTC) has lost its appeal to block Microsoft’s $68.7 billion acquisition of gaming powerhouse Activision Blizzard, dealing another blow to the Biden administration’s aggressive regulatory stance against Big Tech mergers.
The Federal Reserve maintained its benchmark interest rate at 4.25% to 4.5% on May 7, 2025, citing escalating risks of inflation and economic slowdown due to ongoing trade tensions and tariff policies.
President Donald Trump’s aggressive tariff strategy is delivering a major boost to American manufacturers, with new orders and job growth climbing as companies move away from Chinese suppliers. A 145% tariff on Chinese goods has made American-made products more competitive, forcing many firms to reshore operations and invest in U.S.-based production.
California Governor Gavin Newsom (D) announced that he is seeking to partner with President Donald Trump on the proposed plan to implement tariffs on films made outside the United States.
Kennedy Center President and Interim Executive Director Richard Grenell has publicly refuted an Associated Press (AP) report alleging that the venue canceled a week's worth of Pride-related events. Grenell asserted that no events were canceled by the Kennedy Center, emphasizing that organizers independently chose to relocate their programs.
