F.B.I. Moving Into Building That Housed U.S.A.I.D.
The decision to decamp to the Ronald Reagan Building potentially ends years of jockeying by legislators to relocate the country's premier law enforcement agency — and possibly thousands of federal employees — to a suburban location in either Maryland or Virginia.
The F.B.I. director, Kash Patel, hailed the cost savings of moving his agency's headquarters down the street after the White House proposed cutting the bureau's budget by about half a billion dollars, putting it on a spending level last seen in 2011. The announcement was short on details, including when the move would begin and the overall cost.
'We are ushering F.B.I. headquarters into a new era and providing our agents of justice a safer place to work,' Mr. Patel said in a statement. 'Moving to the Ronald Reagan Building is the most cost-effective and resource-efficient way to carry out our mission to protect the American people and uphold the Constitution.'
Michael Peters, the public buildings service commissioner at the General Services Administration, which oversees federal real estate, said the repurposing of the U.S.A.I.D. headquarters would save billions of dollars on new construction and more than $300 million in deferred maintenance costs at the old F.B.I. building.
As part of President Trump's efforts to overhaul the federal government, the global aid agency was gutted and its headquarters emptied earlier this year in a tumultuous series of events that dismantled an institution established more than a half century ago as a linchpin of U.S. foreign policy.
Want all of The Times? Subscribe.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
McDonald's is adding a Spicy McMuffin to its breakfast lineup
You can find original article here Nrn. Subscribe to our free daily Nrn newsletter. McDonald's 50th anniversary celebration of its signature Egg McMuffin continues with the introduction of a Spicy McMuffin, available starting July 8 at participating restaurants for a limited time. The offering includes melted cheese, an egg, Canadian bacon, and Spicy Pepper Sauce served on a toasted and buttered English Muffin. The summer lineup also includes the Spicy Sausage McMuffin and the Spicy Sausage McMuffin with Egg. According to the company, the popular Egg McMuffin was created by Herb Peterson, a franchisee in Santa Barbara, Calif., who presented the concept to founder Ray Croc in 1971. The idea was to create a portable Eggs Benedict. Breakfast is a priority for McDonald's value platform, as its McValue menu, introduced in January, includes items like the Sausage McMuffin, Sausage Biscuit, Sausage Burrito, and Hash Browns, available for a "Buy One, Add One for $1" deal. During the company's fourth quarter earnings call earlier this year, chief financial officer Ian Borden said breakfast has been a strong daypart for the domestic business. 'It's an area where we're taking share,' he said. During the first quarter earnings call in late April, however, chief executive officer Chris Kempczinski said there has been a decline in frequency during the 'bellwether' breakfast daypart. 'Morning now is a place that you're seeing people are choosing either to skip breakfast or they're choosing to eat at home for breakfast. And I think that's more to explain what's going on in the U.S. versus any kind of segment shift,' he said. The Spicy McMuffin comes on the heels of two other menu launches for McDonald's, a new Blueberry & Crème Pie and a new premium burger called the Daily Double. These launches come as the chain has experienced two rare and consecutive quarters of same-store sales declines and traffic softness. Contact Alicia Kelso at Sign in to access your portfolio
Yahoo
20 minutes ago
- Yahoo
Bitcoin Bulls Should Be Wary of the Dollar Index's Death Cross: Technical Analysis
Bitcoin (BTC) bulls are optimistic that the U.S. dollar's broader sell-off will continue in the second half of the year, fueling the crypto bull run. However, one chart warrants caution when relying on bearish dollar predictions. That's the dollar index's weekly chart, which shows the 50-week simple moving average (SMA) is on track to cross below the 200-week SMA in the near term, forming the notorious death cross. While the ominous-sounding pattern is widely regarded as a long-term bearish signal, historically, it has proven to be a bear trap, consistently marking bottoms and bullish trend reversals in the US dollar. The chart below shows that DXY has chalked out four weekly chart death crosses since 2009, and each of those marked the end of downtrends (marked by vertical lines), setting the stage for sharp rallies. The last one occurred in January 2021, marking the bottom at around 90. The dollar caught the bid in the subsequent months, with the index eventually hitting a high of over 114.00 in September 2022. Note that price patterns do not always unfold as expected, meaning the impending death cross may not necessarily trap bears; however, being aware of its past tendency can help traders manage their positions more effectively. The dollar index, which tracks the greenback's value against major fiat currencies, tanked by 10.78% in the first half of the year, its worst performance since 1991.
Yahoo
20 minutes ago
- Yahoo
Elevance Health Insiders Sold US$6.9m Of Shares Suggesting Hesitancy
Over the past year, many Elevance Health, Inc. (NYSE:ELV) insiders sold a significant stake in the company which may have piqued investors' interest. When evaluating insider transactions, knowing whether insiders are buying is usually more beneficial than knowing whether they are selling, as the latter can be open to many interpretations. However, if numerous insiders are selling, shareholders should investigate more. While insider transactions are not the most important thing when it comes to long-term investing, we would consider it foolish to ignore insider transactions altogether. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. In the last twelve months, the biggest single sale by an insider was when the Executive VP & President of Commercial Health Benefits, Charles Kendrick, sold US$3.2m worth of shares at a price of US$432 per share. That means that an insider was selling shares at around the current price of US$396. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern. Elevance Health insiders didn't buy any shares over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below! View our latest analysis for Elevance Health If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: Most of them are flying under the radar). Over the last three months, we've seen significant insider selling at Elevance Health. Specifically, Executive VP & CFO Mark Kaye ditched US$1.9m worth of shares in that time, and we didn't record any purchases whatsoever. In light of this it's hard to argue that all the insiders think that the shares are a bargain. For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Elevance Health insiders own 0.1% of the company, currently worth about US$103m based on the recent share price. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders. An insider hasn't bought Elevance Health stock in the last three months, but there was some selling. And there weren't any purchases to give us comfort, over the last year. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. To assist with this, we've discovered 1 warning sign that you should run your eye over to get a better picture of Elevance Health. But note: Elevance Health may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
