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Deadly Russian drone strike hits Ukrainian kindergarten

admin - Latest News - October 22, 2025
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Deadly Russian drone strike hits Ukrainian kindergarten



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September 24, 2025
Sept. 24, 2025, 3:40 PM EDTBy Julie Tsirkin, Monica Alba, Tara Prindiville and Alexandra MarquezPresident Donald Trump on Thursday is expected to sign a deal to facilitate the sale of TikTok from a Chinese-based company to a group of American investors, two senior White House officials told NBC News.Members of the Trump administration have for days signaled that a deal was being finalized between Chinese and U.S. officials.A senior White House official confirmed to NBC News on Wednesday that once the deal is implemented, TikTok’s U.S. operations would be run by a new joint-venture company. ByteDance, TikTok’s current China-based owner, will hold less than 20% of the stock of the new company, the official said.NBC News reached out to TikTok for comment.This structure will comply with a bipartisan law passed in 2024 that sought to ban TikTok if the platform wasn’t sold to U.S.-based owners this year. The app briefly shut down in the U.S. in January, just a day before Trump was inaugurated to his second term.The app came back online in the U.S. after Trump promised not to enforce the penalties against TikTok that were in the law and said he would seek to make a deal with China for the platform’s sale to the U.S.Trump has extended the deadline to avoid a TikTok ban several times this year. On Wednesday, a senior White House official said that he plans to extend the pause for another 120 days to allow time for the deal to go through.For years, technology experts and U.S. officials warned that TikTok, which has over 170 million U.S. users, was a national security risk and that ByteDance could give the Chinese government access to user data and to the app’s algorithm.During Trump’s first term, he signed an executive order in 2020 aimed at banning TikTok, but then-President Joe Biden reversed it the following year. Biden ultimately signed the bipartisan TikTok bill into law.On Wednesday, a senior White House official confirmed that as part of the deal, American users’ data will be stored in the U.S. and overseen by the software and cloud computing company Oracle. They added that the platform’s algorithm will be retrained and continuously monitored to ensure that U.S. content is free from any outside manipulation.On Saturday, White House press secretary Karoline Leavitt told Fox News that the deal was almost over the finish line and that the “deal just needs to be signed.”She added that the deal would create a board to oversee TikTok with six seats reserved for American investors, but did not say who those American investors would be.On Sunday, Trump told Fox News in a separate interview that Oracle’s co-founder, Larry Ellison, would play a role in the deal. He also said that Michael Dell, CEO of Dell Technologies, and the Murdoch family, which owns a media empire that includes News Corp and Fox Corp, would also play a role.The president added that the other business leaders involved in the deal are “really great people, very prominent people.”“And they’re also American patriots, you know, they love this country, so I think they’re going to do a really good job,” he added.Julie TsirkinJulie Tsirkin is a correspondent covering Capitol Hill.Monica AlbaMonica Alba is a White House correspondent for NBC News.Tara PrindivilleTara Prindiville is a White House producer for NBC News.Alexandra MarquezAlexandra Marquez is a politics reporter for NBC News.
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Nov. 5, 2025, 5:00 AM ESTBy Rob WileThe Supreme Court on Wednesday will start weighing the legality of tariffs that have raised costs on clothing and toys from China, cars and trucks from Canada and Mexico, liquor from Europe, and much more.Yet even if the justices rule against the duties, implemented by President Donald Trump on a country-by-country basis, analysts argue there’s no guarantee that things will return to normal for consumers and businesses. “The removal of [country-specific] tariffs would open the door for trade policy uncertainty to rise again,” analysts with Oxford Economics research group said in a note published Tuesday. That uncertainty, the note added, could end up delaying hiring and business investment — something that could further drag down an already-ailing labor market. The tariffs are being challenged by five small businesses that believe Trump illegally used emergency powers to bypass Congress and impose the duties. The businesses, which include a wine importer, a pipe and fittings company, and a bicycle importing firm, allege they are facing significant financial burdens as a result of the tariffs. “Genova Pipe is dependent on imports to continue its manufacturing operations,” attorneys for the businesses said in their suit, referring to the fittings firm. “The tariffs will directly increase the cost of raw materials, manufacturing equipment, and resale goods imported from abroad by Genova Pipe.”Other businesses have also said tariffs are hurting them. On Monday, the Institute for Supply Management’s manufacturing index held in contraction territory for the eighth-straight month — with many respondents to its survey saying tariffs are weighing on their outlooks.“Tariffs continue to be a large impact to our business,” an unidentified machinery firm said in the survey. “The products we import are not readily manufactured in the U.S., so attempts to reshore have been unsuccessful. Overall, prices on all products have gone up, some significantly.”Yet there remains debate about the direct impact of the tariffs so far, many of which were enacted in August. Analysts with Bank of America found that prices for 101 commonly purchased items on Walmart.com had increased an average of roughly 3.4% between April and October — with toys in particular, many of which are made in China, seeing the biggest hit. However, they said the effect on consumers has been less than what one would expect if the costs of tariffs were being fully passed through to consumers. Businesses, they said, seem to be absorbing significant levels of the costs. In a statement to NBC News, the Yale Budget Lab, a policy think tank, likewise said that the effects of the tariffs “have been somewhat muted so far.”Still, it added, tariffs are weighing on the economy in other ways.“There’s no clear evidence that increased tariffs are responsible for the slowdown in job growth seen in recent months, although broader policy uncertainty is undoubtedly playing a role,” the lab said. “In general, we would expect to see the effects of tariffs to phase in over time as businesses modify their decisions to hire and/or invest.”While large and small companies alike have been facing cost pressures from tariffs, smaller ones have likely taken an outsize hit. Bigger companies have more capital and resources to help them mitigate higher costs. Small businesses, though, were more likely to fall into a category of firms facing import tariff increases exceeding 25 percentage points, according to an August study by the Atlanta Federal Reserve.“Small importers may be relatively more constrained in their ability to weather higher trade costs or switch suppliers, and, as a result, might experience defaults and bankruptcies,” the analysis found.A ruling against the tariffs would likely lower the cost burden to businesses and consumers. But the economy could face turmoil if the court demands the administration refund tariff revenues. Country-specific duties totaled approximately $89 billion through August, according to government data. In addition to the logistical challenge of sending refund checks to whoever paid the duties to U.S. officials, some analysts believe refunds could heat up economic activity — albeit with risks. A ruling against Trump may end up boosting consumer inflation pressures, Bank of America analysts said in a note published last week. The Trump administration has already signaled it would attempt to use different legal authorities to reimpose the duties. Treasury Secretary Scott Bessent has suggested Trump would tap another statute, established in 1930, that would allow him to impose tariffs of up to 50% on countries that discriminate against U.S. commerce. “You should assume that they’re here to stay,” Bessent said in an interview in September. The Oxford Economics analysts, meanwhile, have said they would be “unlikely to change our broader outlook for tariffs” even if the court decides against Trump. Bessent said he plans to attend Wednesday’s arguments at the high court.Rob WileRob Wile is a Pulitzer Prize-winning journalist covering breaking business stories for NBCNews.com.
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