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Federal Workforce Latest: Supreme Court Lets Trump Continue Education Department Purge (Bloomberg)
A divided US Supreme Court let Donald Trump resume dismantling the Department of Education, lifting a lower court order that required the reinstatement of as many as 1,400 workers. The court’s majority gave no explanation, as is often the case with emergency requests.
Federal Reserve Latest: White House Seizes on Fed Renovations as Opening to Oust Chair Jerome Powell (Wall Street Journal)
White House advisers are ramping up a pressure campaign against the Federal Reserve Chair by alleging he either lied to Congress about the Fed’s headquarters renovation or grossly mismanaged it, potentially creating a new legal avenue to oust him.
Ukraine-Russia Latest: Trump Promises More Weapons for Ukraine, Paid for by Europe (Bloomberg)
Donald Trump said the US will send more weapons to Ukraine and threatened 100% “secondary tariffs” unless Russia agrees to a ceasefire in 50 days, signaling his growing impatience with Moscow’s stepped-up military campaign.
Interested Parties: Donald Trump asked Volodymyr Zelenskyy if Ukraine Could Hit Moscow (Financial Times)
Donald Trump has privately encouraged Ukraine to step up deep strikes on Russian territory, even asking President Volodymyr Zelenskyy whether he could strike Moscow if the US provided long-range weapons, according to people briefed on the discussions.
NYC Election Latest: Andrew Cuomo to Run as Independent, Take On Democratic Party Nominee Zohran Mamdani Again in NYC Mayoral Race (Bloomberg)
People familiar with Cuomo’s thinking said he reviewed post-election poll data and believes he is a more viable candidate to challenge Mamdani in November than incumbent Mayor Eric Adams.
Heavy Rainfall in Eastern US: Floods Snarl NYC Subway as Storms Hit New York, New Jersey (Bloomberg)
Numerous flash floods were reported across New York, New Jersey and Connecticut, closing roads and highways, submerging cars, and stranding motorists.
A large slug of moisture is blanketing the US East Coast from Florida to Maine and there was a slight dip in the low-level jet stream that has touched off widespread thunderstorms. Making matters worse, there isn’t a lot of wind to push the storms along so they are lingering through the afternoon and into the evening, raising the flood risk.
Pharmaceutical Innovation Signals Shift: China Biotech’s Stunning Advance Is Changing the World’s Drug Pipeline (Bloomberg)
The number of novel drugs in China — for cancer, weight-loss and more — entering into development ballooned to over 1,250 last year, far surpassing the European Union and nearly catching up to the US’s count of about 1,440, an exclusive Bloomberg News analysis showed.
And the drug candidates from the land once notorious for cheap knock-offs and quality issues are increasingly clearing high bars to win recognition from both drug regulators and Western pharmaceutical giants.
With Donald Trump already threatening tariffs on the pharmaceutical sector, China's biotech advances — the scale of which is slowly coming into view — risk becoming another realm of superpower rivalry like artificial intelligence and electric vehicles.
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