Author: Ethan Larkson

The U.S. Department of Education has begun issuing stern warnings to millions of borrowers who have defaulted on federal student loans, signaling a rapid escalation in collection activities. The government’s efforts, paused since the pandemic, are now shifting back into high gear, with wage garnishment and federal benefit seizures set to resume as early as this summer. Over 5 million borrowers are currently in default, and officials warn that the number could surge to nearly 10 million by the end of the year. This would mean one in four federal student loan accounts falling into default — a potentially unprecedented…

U.S. President Donald Trump has directly voiced his disapproval of Apple’s increasing manufacturing presence in India. In a recent interaction with CEO Tim Cook, Trump insisted that the tech giant should focus on expanding production within the United States rather than diverting operations overseas. The comments came as Apple continues to scale up its manufacturing operations in India, driven by the company’s ongoing efforts to diversify its production away from China due to trade tensions and tariffs. Trump, however, expressed frustration, stating that he does not want Apple building its products in India and believes the company owes more commitment…

UnitedHealth Group witnessed a major leadership shake-up on Tuesday as Chief Executive Officer Andrew Witty resigned from his post with immediate effect. The company, simultaneously, announced the suspension of its annual forecast due to a sharp rise in medical costs, triggering a nearly 18% plunge in its stock — the lowest in four years. To fill the leadership vacuum, Chairman Stephen Hemsley, 72, will step back into the CEO role, a position he previously held until stepping down in 2017. This abrupt change at the top has come at a time when the company is navigating through multiple crises, shaking…

Oil prices saw a significant rise of over $2 in Asian trading on Monday after both the United States and China agreed to ease some of their tariff measures, offering a hopeful sign toward resolving their ongoing trade dispute. This development has boosted investor confidence, especially given that both countries are among the world’s largest consumers of crude oil. Brent crude futures jumped by $2.11, or 3.3%, reaching $64.14 a barrel by 0714 GMT. Similarly, U.S. West Texas Intermediate (WTI) crude rose to $63.14 a barrel, marking a $2.12 increase or a 3.47% surge compared to Friday’s closing prices. The…

Google has agreed to pay $1.375 billion to settle claims of data privacy violations filed by Texas Attorney General Ken Paxton. The settlement resolves two lawsuits alleging that the tech giant unlawfully tracked and collected users’ private data, including geolocation, incognito searches, and biometric data. This marks the largest settlement of its kind, with previous settlements involving Google never surpassing $93 million, according to an official press release. In 2022, Texas filed two lawsuits against Google, accusing the company of violating state consumer protection laws by secretly collecting users’ private data without consent. Paxton’s office argued that Google tracked users’…

David Steiner has been appointed as the next Postmaster General of the United States Postal Service (USPS), a decision announced by the USPS Board of Governors on Friday. Steiner, who currently serves on the FedEx board and is a former CEO of Waste Management Inc., is set to assume his new role in July, pending the completion of background and ethics checks. His appointment comes at a time when the USPS is grappling with significant financial challenges and discussions about potential privatization. Steiner’s selection has sparked concern among postal unions and Democratic lawmakers due to his ties to FedEx, a…

Panasonic Holdings has announced a significant restructuring plan that includes cutting 10,000 jobs as part of its efforts to overhaul the company’s operations and improve profitability. The move comes as the electronics giant looks to streamline its business after facing financial challenges in recent years. According to the company’s statement released on Friday, the staff reductions will primarily take place during the current business year. Half of the planned layoffs will occur in Japan, while the remaining half will affect overseas operations. This restructuring is expected to cost the company approximately 130 billion yen ($896.06 million). The job cuts will…

Bill Gates has publicly held Elon Musk responsible for what he describes as “millions of preventable deaths” among the world’s poorest children, following sweeping U.S. foreign aid cuts executed under Musk’s leadership at the Department of Government Efficiency (DOGE). The intense criticism comes in the wake of drastic measures that dismantled the U.S. Agency for International Development (USAID), which Gates says will have deadly consequences for global health and development. In February, the Trump administration — with Musk heading DOGE — initiated severe budget reductions, resulting in over 90% of USAID’s overseas contracts being terminated. Gates, 69, warned that reversing…

The United States and the United Kingdom have reached a significant trade agreement, marking what officials are calling a “full and comprehensive” deal between the two long-time allies. This development arrives in the wake of a series of sweeping tariff changes introduced by the U.S. administration that have impacted global trade dynamics. The deal is expected to bolster economic cooperation between the two countries, especially as both sides look to reset their trade priorities amidst shifting geopolitical and economic landscapes. While formal details of the agreement have yet to be made public, it is widely viewed as a strategic signal…

The European Union is preparing to strike back in the escalating trade tensions with the United States, this time targeting Boeing jets. This move comes in response to Washington’s 10% tariffs on European goods, including Airbus aircraft, reigniting a long-standing dispute between the world’s two largest aerospace markets. If implemented, this would be the first time since 2021 that both sides have introduced import taxes specifically affecting the civil aviation sector, which is valued at around $150 billion globally. The European Commission is expected to reveal the details of its planned counter-measures shortly, in case talks with the U.S. do…