‘Big beautiful bill' or ‘tax cuts for billionaires'? House dives into Trump's budget plan
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CNBC
38 minutes ago
- CNBC
India to maintain Russian oil imports despite Trump threats, government sources say
India will keep purchasing oil from Russia despite U.S. President Donald Trump's threats of penalties, two Indian government sources told Reuters on Saturday, not wishing to be identified due to the sensitivity of the matter. On top of a new 25% tariff on India's exports to the U.S., Trump indicated in a Truth Social post last month that India would face additional penalties for purchases of Russian arms and oil. On Friday, Trump told reporters he had heard that India would no longer be buying oil from Russia. But the sources said there would be no immediate changes. "These are long-term oil contracts," one of the sources said. "It is not so simple to just stop buying overnight." Justifying India's oil purchases from Russia, a second source said India's imports of Russian grades had helped avoid a global surge in oil prices, which have remained subdued despite Western curbs on the Russian oil sector. Unlike Iranian and Venezuelan oil, Russian crude is not subject to direct sanctions, and India is buying it below the current price cap fixed by the European Union, the source said. The New York Times also quoted two unnamed senior Indian officials on Saturday as saying there had been no change in Indian government policy. Indian government authorities did not respond to Reuters' request for official comment on its oil purchasing intentions. However, during a regular press briefing on Friday, foreign ministry spokesperson Randhir Jaiswal said India has a "steady and time-tested partnership" with Russia. "On our energy sourcing requirements ... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances," he said. The White House did not immediately respond to requests for comment. Trump, who has made ending Russia's war in Ukraine a priority of his administration since returning to office this year, has expressed growing impatience with Russian President Vladimir Putin in recent weeks. He has threatened 100% tariffs on U.S. imports from countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the leading supplier to India, the world's third-largest oil importer and consumer, accounting for about 35% of its overall supplies. India imported about 1.75 million barrels per day of Russian oil from January to June this year, up 1% from a year ago, according to data provided to Reuters by sources. But while the Indian government may not be deterred by Trump's threats, sources told Reuters this week that Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 - when sanctions were first imposed on Moscow - due to lower Russian exports and steady demand. Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd have not sought Russian crude in the past week or so, four sources told Reuters. Nayara Energy - a refinery majority-owned by Russian entities, including oil major Rosneft, and major buyer of Russian oil - was recently sanctioned by the EU. Nayara's chief executive resigned following the sanctions, and three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions, Reuters reported last week.
an hour ago
Senate confirms former Fox News host Pirro as top federal prosecutor for the nation's capital
WASHINGTON -- The Senate has confirmed former Fox News host Jeanine Pirro as the top federal prosecutor for the nation's capital, filling the post after President Donald Trump withdrew his controversial first pick, conservative activist Ed Martin Jr. Pirro, a former county prosecutor and elected judge, was confirmed 50-45. Before becoming the acting U.S. Attorney for the District of Columbia in May, she co-hosted the Fox News show 'The Five' on weekday evenings, where she frequently interviewed Trump. Trump yanked Martin's nomination after a key Republican senator said he could not support him due to Martin's outspoken support for rioters who stormed the U.S. Capitol on Jan. 6, 2021. Martin now serves as the Justice Department's pardon attorney. In 2021, voting technology company Smartmatic USA sued Fox News, Pirro and others for spreading false claims that the company helped 'steal' the 2020 presidential election from Trump. The company's libel suit, filed in a New York state court, sought $2.7 billion from the defendants. Last month, Republican members of the Senate Judiciary Committee voted unanimously to send Pirro's nomination to the Senate floor after Democrats walked out to protest Emil Bove's nomination to become a federal appeals court judge. Pirro, a 1975 graduate of Albany Law School, has significantly more courtroom experience than Martin, who had never served as a prosecutor or tried a case before taking office in January. She was elected as a judge in New York's Westchester County Court in 1990 before serving three terms as the county's elected district attorney. In the final minutes of his first term as president, Trump issued a pardon to Pirro's ex-husband, Albert Pirro, who was convicted in 2000 on conspiracy and tax evasion charges.
Yahoo
3 hours ago
- Yahoo
Not just Big Bird: What to know about the Center for Public Broadcasting and its funding cuts
The Corporation for Public Broadcasting, which has helped pay for PBS, NPR, 1,500 local radio and television stations, and programs such as Sesame Street and Finding Your Roots, announced Friday it would shut down after the U.S. government removed its funding. The organization told staff most positions will end with the fiscal year on September 30. A small transition team will remain until January. The private nonprofit corporation was founded in 1968 after Congress authorized its formation. It now comes to an end after almost six decades of fueling the production of celebrated educational programming, cultural content, and emergency alerts about natural disasters. Trump cancels funding President Donald Trump signed a bill on July 24, canceling about $1.1 billion that had been approved for public broadcasting. The White House claims the public media system is politically biased, and an unnecessary expense, and conservatives have particularly directed their anger at NPR and PBS. Lawmakers with large rural constituencies voiced concern about what the cuts could mean for some local public stations in their state. They warned that some stations will have to close. The Senate Appropriations Committee on Thursday reinforced the policy change by excluding funding for the corporation for the first time in more than 50 years as part of a broader spending bill. How it started Congress passed legislation creating the body in 1967. This came several years after Newton Minow, the then-Federal Communications Commission chair, described commercial television as a 'vast wasteland' and called for programming in the public interest. The corporation doesn't produce programming, and it doesn't own, operate, or control any public broadcasting stations. The corporation, PBS, and NPR are independent of each other, as are local public television and radio stations. Rural stations hit hard Roughly 70 percent of the corporation's money went directly to 330 PBS and 246 NPR stations across the country. The cuts are expected to weigh most heavily on smaller public media outlets away from big cities, and it's likely some won't survive. NPR's president estimated that as many as 80 NPR stations may close in the following year. Mississippi Public Broadcasting has already decided to eliminate a streaming channel that airs children's programming such as 'Caillou' and 'Daniel Tiger's Neighborhood' 24 hours a day. Maine's public media system is looking at a hit of $2.5 million, or about 12 percent of its budget, for the next fiscal year. The state's rural residents rely heavily on public media for weather updates and disaster alerts. In Kodiak, Alaska, KMXT estimated the cuts would slice 22 percent from its budget. Public radio stations in the sprawling, heavily rural state often provide not just news but alerts about natural disasters like tsunamis, landslides, and volcanic eruptions. From Big Bird to war documentaries 'Sesame Street' initially aired in 1969. Child viewers, adults, and guest stars alike were instantly hooked. Over the decades, characters from Big Bird to Cookie Monster and Elmo have become household favorites. Entertainer Carol Burnett appeared on that inaugural episode. "I would have done anything they wanted me to do,' she said. 'I loved being exposed to all that goodness and humor.' The New York Times reports 'Sesame Street' will survive without the Corporation for Public Broadcasting. NPR and PBS get a relatively small portion of their annual budget from the corporation, and children's TV programs are produced independently of those organizations. Still, the NYT reports the cutbacks could affect the availability of those shows, particularly in pockets of the country without widespread access to broadband internet and mobile data. Harvard professor Henry Louis Gates Jr. started the program 'Finding Your Roots' in 2006 under the title 'African American Lives'. He invited prominent Black celebrities and traced their family trees back to slavery. When the paper trail ran out, they would use DNA to see which ethnic group they were from in Africa. Challenged by a viewer to open the show to non-Black celebrities, Gates agreed, and the series was renamed 'Faces of America', which had to be changed again after the name was taken. The show is PBS's most-watched program on linear TV and the most-streamed non-drama program. Season 10 reached nearly 18 million people across linear and digital platforms and also received its first Emmy nomination. Grant money from the nonprofit has also funded lesser-known food, history, music, and other shows created by stations across the country. Documentarian Ken Burns, celebrated for creating the documentaries 'The Civil War', 'Baseball', and 'The Vietnam War', told PBS NewsHour that the corporation accounted for about 20 percent of his films' budgets. He said he would make it up, but projects receiving 50 percent to 75 percent of their funding from the organization won't. The influence of shows Children's programming in the 1960s was made up of shows including 'Captain Kangaroo', 'Romper Room', and the violent skirmishes between 'Tom & Jerry'. 'Mr. Rogers' Neighborhood' mostly taught social skills. PBS also aired programs by 'Monty Python' and broadcast shows such as 'Downton Abbey' and 'The French Chef' with Julia Child. Education professionals and child psychologists designed 'Sesame Street' to help low-income and minority students aged between two and five overcome some of the deficiencies they had when entering school. Social scientists had long noted that white and higher-income kids were often better prepared. One of the most widely cited studies about the impact of 'Sesame Street' compared households that got access to the show with those who didn't. It found that the children exposed to 'Sesame Street' were 14 percent more likely to be enrolled in the correct grade level for their age at middle and high school. Over the years, 'Finding Your Roots' showed Natalie Morales discovering she's related to one of the legendary pirates of the Caribbean, and former 'Saturday Night Live' star Andy Samberg finding his biological grandmother and grandfather. It revealed that drag queen RuPaul and Senator Cory Booker are cousins, as are actors Meryl Streep and Eva Longoria. 'The two subliminal messages of 'Finding Your Roots', which are needed more urgently today than ever, is that what has made America great is that we're a nation of immigrants,' said Gates. 'And secondly, at the level of the genome, despite our apparent physical differences, we're 99.99 percent the same.' Solve the daily Crossword
