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WASHINGTON (Reuters) – The U.S. government posted an $87 billion budget deficit in December, reduced partly by a shift of benefit payments into November but capping a record $711 billion deficit for the first three months of the 2025 fiscal year, the U.S. Treasury Department said on Tuesday. The Treasury, releasing its final budget report…

By Kanishka Singh WASHINGTON (Reuters) -President Joe Biden said on Monday his administration would cancel student loans for more than 150,000 borrowers, targeting those who attended schools that defrauded students, those with permanent disabilities and public service workers. Biden said the total number of Americans who have had their student debt canceled by his administration…

(Reuters) -JPMorgan Chase and Bank of America are preparing to ease mortgage repayment conditions for customers affected by the Los Angeles wildfires, as residents grapple with one of the most destructive natural disasters in the city’s history. Chase Home Lending is providing disaster forbearance for mortgage customers affected by the wildfires, parent firm JPMorgan said…

(Reuters) – Entrepreneur and former Los Angeles Dodgers owner Frank McCourt’s Project Liberty and its consortium of partners in The People’s Bid said on Thursday they proposed to make a formal bid to ByteDance to buy TikTok’s U.S. assets. The move comes ahead of a Jan. 19 deadline by which ByteDance has to sell the…

WASHINGTON (Reuters) – Elon Musk, who U.S. President-elect Donald Trump has tapped to oversee a government cost-cutting effort, acknowledged that his declared goal of cutting $2 trillion in spending from the $6.8 trillion federal budget would be a long shot. “I think if we try for 2 trillion, we’ve got a good shot at getting…

PALM BEACH, Florida (Reuters) -President-elect Donald Trump said on Tuesday that he wants the U.S. Congress to extend the nation’s debt ceiling, adding that he did not want to see the federal government default on its debt, which currently tops $36 trillion. “I just don’t want to see a default. That’s all I want,” Trump…

(Reuters) – The U.S. Department of Health and Human Services said on Friday it would award $306 million in funds to help bird flu monitoring, as the virus spreads in dairy herds and farm workers across the country. The country in December reported its first severe human case of bird flu in a Louisiana resident,…

By Jaspreet Singh (Reuters) -Rivian surpassed analysts’ expectations for fourth-quarter deliveries on Friday and said its production was no longer constrained by a component shortage, a positive sign for the electric vehicle maker aiming to turn its first profit. Shares of the California-based company rose nearly 19%. The stock lost more than 40% of its…

By David Shepardson WASHINGTON (Reuters) – The U.S. Transportation Department has imposed a $2 million penalty on JetBlue Airways for operating four chronically delayed flights on domestic routes – the first time it has imposed such a fine on an airline for the prohibited scheduling practice. USDOT said on Friday that as part of a…