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President Trump floated lowering tariffs on Chinese imports to 80%. Major indexes were down for the week despite Thursday’s rally. Plus: Expedia shares dropped after reporting weakening travel demand to and from the U.S. Danny Lewis hosts.
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Beijing, on the other hand, pledged to step up enforcement of export controls on strategic mineral resources. Plus: the U.K. announces its “largest ever sanction package” on key players in the Russian oil trade. AMC profits shrink despite streaming revenue growth. And Panasonic will cut 10,000 jobs globally. Charlotte Gartenberg hosts.
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Plus: Tech leaders tell lawmakers that the U.S. risks falling behind China if Washington does not streamline AI policy. And President Trump considers bringing the so-called “millionaire tax” back to life. Kate Bullivant hosts.
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President Trump nominates Dr. Casey Means, a holistic health influencer, to be the next U.S. surgeon general. LA’s Olympic Coliseum is set to make history again in 2028 as it co-hosts the opening and closing ceremonies. In Vernon, snack company Archer is taking over the old Farmer John plant to expand meat stick production and create hundreds of jobs. And in global news, Trump and U.K. Prime Minister Keir Starmer are moving toward a new trade deal that would lower tariffs on cars and steel in exchange for more U.S. exports.
The deal lays out a framework for some tariffs to be lowered or exempted. Plus: Carvana shares rise after CEO says used-car businesses won’t be as affected by import taxes. And Cardinal Robert Francis Prevost becomes the first American-born Pope. Danny Lewis hosts.
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Threat of levies on $107 billion of goods is in case negotiations fail. Plus: U.S. jobless claims fell last week, indicating labor market resilience. Molson Coors reported a drop in first-quarter net income. And Johnson & Johnson spinoff Kenvue saw Q1 earnings growth ahead of expectations. Charlotte Gartenberg hosts.
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House Republicans are pushing to sell thousands of acres of public lands in Nevada and Utah as part of a sweeping tax and spending plan. More than half of California voters think Governor Gavin Newsom is more focused on his political future than fixing problems at home. Hollywood *might* be getting a surprise push from an unlikely alliance between Donald Trump and Gavin Newsom. Disney is now setting its sight on the middle east.
L.A. County declares a hepatitis A outbreak with cases rising beyond the homeless population. Real ID requirements officially kick in at U.S. airports, with experts warning of potential delays. Mattel considers raising toy prices in response to steep Trump-era tariffs on Chinese imports. And inside the Writers Guild, a trial committee member speaks out over what she calls a flawed expulsion process tied to last year’s strike.
Top L.A. firefighters union leaders are suspended after an audit reveals $800,000 in undocumented spending. UPS and the U.S. Postal Service announce major job cuts and route changes, as mail volume drops and costs rise. Skechers heads into a $9.4 billion deal to go private with backing from 3G Capital. And OpenAI says its nonprofit board will remain in control of its for-profit business.
Security cameras are going up in Altadena after a surge in burglaries, but some locals say it’s not enough. President Trump’s 2026 budget proposes deep cuts to domestic programs while boosting military spending. Despite strong job growth in April, economists warn that trade wars and government cuts could cool the labor market. And a shipping loophole that kept online prices low is now closed raising costs for sites like Shein and Temu, and potentially for consumers across the U.S.