In a significant diplomatic move, Russia released American teacher Marc Fogel from detention, negotiated by Donald Trump’s special envoy Steve Witkoff, as a goodwill gesture to aid talks to end the war in Ukraine. Fogel, detained since 2021 on drug charges, was returned to the US after a secret deal brokered by Witkoff, prompting praise from the White House and Fogel’s family for Trump’s leadership in securing his release. Ukrainian President Zelenskyy expressed readiness for meetings with US representatives, as Trump announced plans to send his Treasury secretary to Ukraine to discuss natural resources and ending the conflict, emphasizing the urgency of ending the war.
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Businesses Are Betting on a Tax Cut Extension
The second Trump presidency has started with mass firings, tariff threats, and budget negotiations, causing uncertainty among investors despite initial market confidence. Extension of tax cuts is expected, but the cost remains a concern, leading to discussions on potential spending cuts. The bond market remains calm amidst trade tensions, as Treasury Secretary Scott Bessent's policies and cost-cutting efforts by Elon Musk's DOGE initiative aim to shape the economic outlook and deficit reduction strategies. Full Article
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