Bloomberg Daybreak: Senate Republicans Race to Finish Tax Cut Bill; Stocks at All-Time Highs
On today's podcast: 1) Senate Majority Leader John Thune is rushing to meet President Donald Trump's July 4 deadline for pushing through his massive tax and spending bill, but first he has to work through a list of approximately eight Republican senators who have expressed opposition to portions of it. 2) US equity futures climbed as progress in trade negotiations between the Trump administration and key partners added to the upbeat sentiment that had pushed the S&P 500 to a fresh record high. 3) Canada has withdrawn its digital services tax on technology companies such as Meta Platforms Inc. and Alphabet Inc. in a move to restart trade talks with the US.
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CBS News
32 minutes ago
- CBS News
Detroit to return as WBNA franchise city in 2029
Detroit, Cleveland and Philadelphia have been named the next three cities to get expansion teams in the WNBA. Detroit's first year of play is expected to be in 2029, according to the announcement. The women's team will play in Little Ceasars Arena, home of the NBA's Detroit Pistons. A new practice facility will be built. The majority ownership is Tom Gores, who owns the Pistons. Minority owners will be Grant Hill, Chris Webber and Jared Goff. He formally submitted a bid on behalf of an expansion ownership group in January. "I think this will be bigger than just the basketball team coming back. It's recognition of all the things that are happening in the city. And finally, I think it's going to have a real economic impact," Pistons vice chairman Arn Tellem said. Detroit was first awarded a WNBA franchise in 1996. The Detroit Shock played in Auburn Hills from 1998 to 2009, with the team moving to Tulsa and then Dallas. "Detroit is a sports town that loves its teams deeply and consistently shows up with unwavering passion," Gores said when the plans were announced. "At a critical moment in the growth and development of the WNBA, it supported the hometown team more than any other franchise in the league. We're here to rekindle that legacy." Cleveland will start playing in the league in 2028 at Rocket Arena, home of the Cavaliers. The majority ownership is with Dan Gilbert, who owns the Cavaliers. Cleveland also is a former home city for the WNBA. Philadelphia will start playing in the league in 2030 in a new arena in downtown Philadelphia. The majority ownership is with Josh Harris, who owns the Philadelphia 76ers. That city has not previously hosted a WNBA team. contributed to this report.
Politico
32 minutes ago
- Politico
Trump administration says Harvard risks ‘loss of all federal resources' due to alleged campus antisemitism
The Trump administration formally accused Harvard University of violating federal civil rights laws and failing to mount an appropriate response to alleged campus antisemitism. Monday's notice marked a stark and renewed threat to Harvard's federal funding amid quiet negotiations between the elite school and government authorities that have otherwise been replete with court fights, threats to Harvard's research funding and foreign student enrollment — and the recent possibility of a detente raised by President Donald Trump. 'Failure to institute adequate changes immediately will result in the loss of all federal financial resources and continue to affect Harvard's relationship with the federal government,' administration officials, including Justice Department civil rights chief Harmeet K. Dhillon, wrote in a letter to Harvard President Alan Garber. 'Harvard may of course continue to operate free of federal privileges, and perhaps such an opportunity will spur a commitment to excellence that will help Harvard thrive once again,' the officials said. Harvard did not immediately respond to a request for comment. The institution could also lose federal student aid — one of the most severe consequences a university can face — if it doesn't agree to a resolution. About a fifth of Harvard's undergraduate students rely on a federal grant reserved for low-income students. The notice from the Justice Department's antisemitism task force marked the completion of a civil rights investigation into the university pursued by the Department of Health and Human Services, which, according to the administration, has awarded Harvard more than $794 million in federal financial assistance since the 2023 fiscal year. The government concluded Harvard has been 'in some cases deliberately indifferent, and in others has been a willful participant in anti-Semitic harassment of Jewish students, faculty, and staff' since the Israel-Hamas war began Oct. 7, 2023. A 57-page HHS report that accompanied Monday's notice, obtained by POLITICO, detailed what the government said was a 'pattern of unlawful and unchecked discrimination' that included student-on-student harassment, exclusion from campus spaces and institutional-level acceptance of antisemitism. Authorities also acknowledged an effort 'to secure compliance by voluntary means' through extended discussions with Harvard. HHS' civil rights division 'will make additional efforts to persuade Harvard to take appropriate corrective action, including through submission of a voluntary resolution agreement,' the report said. Authorities told Harvard they would refer the matter to the Justice Department 'as soon as possible after the mailing of this Notice absent voluntary compliance.' The Wall Street Journal first reported news of the government findings. The government's latest Harvard threat signals a shift in the administration's tone from just 10 days ago, when Trump declared a 'historic' deal between his administration and Harvard could soon be on the table. 'We have been working closely with Harvard, and it is very possible that a Deal will be announced over the next week or so,' Trump said in a post on Truth Social, the social media site he owns. One administration official expressed cautious optimism about talks last week, saying there was 'a level of trust that Harvard wants to resolve the conflict and we can see a resolution by the end of the month.' Now, that administration official said, Harvard 'hasn't lived up to its end of the bargain.' 'Talk is cheap, and the president isn't in the business of agreeing to deals in name only or falling for empty promises,' the administration official told POLITICO. 'He and his administration remain committed to working with Harvard, but it's a two-way street.' Bianca Quilantan contributed to this report.
CNN
33 minutes ago
- CNN
Charlize Theron speaks out on immigration policies that have ‘destroyed the lives of families, not criminals'
Charlize Theron, a naturalized US citizen, spoke out about changing policies in the country she has made her home. At her annual Africa Outreach Project Block Party over the weekend, Theron thanked attendees for 'taking the time to be a part of this, especially when the world feels like it's burning because it is.' 'Here in Los Angeles, in the US and across the globe, we're moving backwards fast. Immigration policy has destroyed the lives of families, not criminals; women's rights are becoming less and less every day; queer and trans lives are increasingly being erased; and gender-based violence is on the rise,' Theron said, according to The Hollywood Reporter. The issue of immigration is very personal to the star, who immigrated from South Africa to the United States and became a US citizen in 2007. Her block party is held to raise funds to help youth in Africa. Theron spoke out against US aid 'cuts [that] have brought HIV and AIDS programs in my home country of South Africa to an absolute standstill.' 'All of this is not just detrimental, it's dangerous; people will lose their lives — many have already, unfortunately, and at a frightening rate,' she said. 'It's absolutely heartbreaking to see this kind of unnecessary suffering.' 'But what we also see, what we cannot miss, is the resistance. There is hope,' Theron added. 'There is power in all of us standing up, organizing, protesting, voting, and caring for each other, and refusing to accept that this is the new normal.' The event is part of the star's nonprofit the Charlize Theron Africa Outreach Project.
