President-elect Donald Trump is filling key posts in his second administration, putting an emphasis so far on aides and allies who were his strongest backers during the 2024 campaign. Among his picks are Robert F. Kennedy Jr. to lead the Department of Health and Human Services, Florida Sen. Marco Rubio for secretary of state, former Democratic House member Tulsi Gabbard for director of national intelligence and Florida Rep. Matt Gaetz for attorney general.… Continue Reading
WASHINGTON (AP) — President-elect Donald Trump says he will nominate former White House aide Brooke Rollins to be his agriculture secretary. Rollins, who heads the Trump-allies America First Policy Institute, was the director of his office of American innovation in his first term. The nomination must be confirmed by the Senate, which will be controlled by Republicans when Trump takes office Jan. 20. Rollins would succeed Tom Vilsack, President Joe Biden’s agriculture secretary who oversees the sprawling agency that controls policies, regulations and aid programs related to farming, forestry, ranching, food quality and nutrition. Rollins is the last of Trump’s picks to lead executive agencies and another choice from within his established circle of advisers and allies.… Continue Reading
WASHINGTON (AP) — President-elect Donald Trump has chosen hedge fund manager Scott Bessent, an advocate for deficit reduction, to serve as his next treasury secretary. Bessent, 62, is founder of hedge fund Key Square Capital Management. He previously had worked on and off for Soros Fund Management since 1991. Trump also said he would nominate Russell Vought, 48, to lead the Office of Management and Budget, a position he held during Trump’s first term. And Trump chose Rep. Lori Chavez-DeRemer, an Oregon Republican, as his labor secretary, and Scott Turner, a former football player who worked in Trump’s first administration, as his housing secretary.… Continue Reading
NEW YORK (AP) — Stocks closed higher on Wall Street, giving the market its fifth gain in a row and notching another record high for the Dow Jones Industrial Average. The S&P 500 rose 0.3% Friday. The Dow added 1%, and the Nasdaq composite tacked on 0.2%. Retailers had some of the biggest gains. Gap soared after reporting quarterly results that easily beat analysts’ estimates. EchoStar fell after DirecTV called off its purchase of that company’s Dish Network unit. European markets closed mostly higher and Asian markets ended mixed. Treasury yields held relatively steady in the bond market. Crude oil prices gained ground.… Continue Reading
WASHINGTON (AP) — Matt Gaetz is not coming back to Congress. The Florida Republican said Friday he has no intention of serving another term in the House now that he is no longer President-elect Donald Trump’s nominee for attorney general. Gaetz withdrew as the nominee this week amid growing fallout from the allegations of sexual conduct against him. Gaetz denies the allegations. Gaetz didn’t lay out his plans now that he’s out of office, saying only, “I’m still going to be in the fight, but it’s going to be from a new perch.” After Gaetz’s withdrawal on Thursday, Trump named former Florida attorney general Pam Bondi to lead the Justice Department.… Continue Reading
WASHINGTON (AP) — Matt Gaetz has withdrawn as President-elect Donald Trump’s pick for attorney general following scrutiny over a federal sex trafficking investigation. The Florida Republican made the announcement Thursday. Gaetz’s withdrawal is a blow to Trump’s push to install steadfast loyalists in his incoming administration and the first sign that Trump could face resistance from members of his own party.… Continue Reading
NEW YORK (AP) — U.S. stocks climbed after market superstar Nvidia and another round of companies said they’re making even fatter profits than expected. The S&P 500 pulled 0.5% higher Thursday after flipping between modest gains and losses several times in the morning. The Dow Jones Industrial Average jumped 1.1%, and the Nasdaq composite edged up by less than 0.1%. Banks, smaller companies and other areas of the stock market that tend to do best when the economy is strong helped lead the way, while bitcoin briefly broke above $99,000. Crude oil, meanwhile, continued to rise. Treasury yields inched higher in the bond market.… Continue Reading
U.S. regulators want a federal judge to break up Google to prevent the company from continuing to squash competition through its dominant search engine after a court found it had maintained an abusive monopoly over the past decade. The proposed breakup floated in a 23-page document filed late Wednesday by the U.S. Justice Department calls for Google to sell its industry-leading Chrome web browser and impose restrictions designed to prevent Android from favoring its search engine. Regulators also want to ban Google from forging multibillion-dollar deals to lock in its dominant search engine as the default option on Apple’s iPhone and other devices.… Continue Reading
WASHINGTON (AP) — The head of the Federal Emergency Management Agency says money available to help communities hit by disasters has shrunk after back-to-back hurricanes Helene and Milton. Deanne Criswell warned during a Senate hearing Wednesday that the funding problems might jeopardize the ability to respond to new disasters in the future. The Biden administration has requested nearly $100 billion for disaster aid. The largest chunk of that money, about $40 billion, would go to FEMA’s disaster relief fund.… Continue Reading
NEW YORK (AP) — U.S. stocks drifted to a mixed finish, though the modest moves for indexes masked some thrashing underneath the surface. The S&P 500 ended barely changed Wednesday after trading lower for much of the day. The Nasdaq composite slipped 0.1%, and the Dow Jones Industrial Average eked out a gain of 0.3%. Target led the market lower and lost more than a fifth of its value after the retailer gave a dour forecast for the holiday shopping season. The day’s headliner is due after the close of trading, when Nvidia will release its latest earnings report.… Continue Reading