E-commerce giant Amazon reported Thursday its fourth-quarter net income nearly doubled to $20 billion, driven by strong holiday sales, but its outlook for the coming quarter came in less than hoped for by analysts.But looking ahead, Amazon expects first-quarter 2025 net sales between $151.0 billion and $155.5 billion, representing growth of five to nine percent, which was less than predicted by analysts.
A familiar pattern has emerged since President Donald Trump returned to the White House less than three weeks ago: He makes a brash proposal, his opponents file a lawsuit and a federal judge puts the plan on hold. It's happened with Trump's attempts to freeze certain federal funding, undermine birthright citizenship and push out government workers. Now the question is whether the court rulings are a mere speed bump or an insurmountable roadblock for the Republican president, who is determined to expand the limits of his power — sometimes by simply ignoring the laws.
U.S. Secretary of State Marco Rubio may have hoped to spend his first trip abroad focused exclusively on issues close to his heart: immigration, counternarcotics and curbing Chinese influence in the Western Hemisphere. Instead, the five-nation tour to Central America — a destination he deliberately chose for his maiden voyage as President Donald Trump’s top diplomat — was overshadowed by a massive Washington-centered upheaval in U.S. foreign policy. Just two weeks into his new job, the Miami-born former Florida senator did stay true to his original intent in meetings with the leaders of Panama, El Salvador, Costa Rica, Guatemala and the Dominican Republic.
The preliminary injunction is the second temporary hold against Trump’s executive order and puts efforts to end birthright citizenship on indefinite pause.
The U.S. Supreme Court declined on Thursday to place on hold a dispute over California's standards for vehicle emissions and electric cars even as President Donald Trump's administration considers policy shifts that touch upon pending litigation at the nation's highest judicial body. The justices denied the administration's request to pause further action in the case, as well as two cases concerning which courts may hear challenges to EPA rules.
U.S. Securities and Exchange Commission lawyers may be exempt from a demand from the Trump administration to send it a list of staff who are still on probation, according to a memo seen by Reuters, in a sign that they may see a reprieve from any mass firings. Republican President Donald Trump has used his early days in office to shrink, purge and remake the U.S. federal government and federal agency heads have been asked to identify employees on probationary periods, or who have served less than two years. The SEC is a key agency, responsible for policing the $110 trillion U.S. capital markets and promoting capital formation.
Amazon on Thursday reported better-than-expected revenue and profits for the holiday shopping period, but its stocks dipped in after-hours trading due to disappointing guidance for the current quarter. The Seattle-based e-commerce and technology company said its revenue for the October-December period totaled $187.8 billion, a 10% jump compared to the same period in 2023. Amazon is the biggest online shopping destination in the U.S. and has long been a beneficiary of consumer spending during the holidays.
Betsy DeVos, Trump’s first secretary of Education, called for it to be abolished entirely on Thursday.
Labor unions that serve teachers, firefighters, police and other public employees in Utah will no longer be able to negotiate on behalf of their workers under a bill that received final legislative approval Thursday. The Republican policy banning collective bargaining for all public sector professions passed the Senate in a 16-13 vote after its sponsors abandoned a proposed compromise that would have removed the outright ban. “If there’s not going to be consensus, then let’s just run it on its face," said Sen. Kirk Cullimore, the bill’s Senate sponsor.
Countries must aim as high as possible when setting new goals to reduce greenhouse gas emissions, Andre Correa do Lago, the president of the COP30 climate conference to be hosted by Brazil in November, told AFP in an interview.Brazil will host the COP30 meeting in the Amazonian city of Belem -- the first time the conference will be held in a region considered so crucial to the global climate.
The Senate was headed for a confirmation vote Thursday night on Russell Vought, President Donald Trump’s nominee for White House budget director, who is planning to use one of the most powerful positions in federal government to zealously expand the president's power. The Thursday night vote was planned after Democrats had exhausted their only remaining tool to stonewall a nomination — holding the Senate floor throughout the previous night and day with a series of speeches where they warned Vought was Trump's “most dangerous nominee.” “Confirming the most radical nominee, who has the most extreme agenda, to the most important agency in Washington,” said Senate Democratic leader Chuck Schumer in a floor speech.
Companies are racing against the clock this week to notify antitrust agencies about pending deals before a new, more stringent merger filing rule passed during President Joe Biden's administration comes into effect, lawyers said this week. The U.S. Federal Trade Commission rule taking effect after 5 p.m. on Friday is estimated to triple the average workload to gain regulatory clearance, which is required for transactions worth more than $126.4 million. The rule is meant to bring merger clearance requirements up to date, account for the increase in U.S. private equity deals, and give regulators more information so they can clear deals more quickly, according to the FTC.
Investors are braced for a busy day of earnings, with Amazon serving as the highlight.
US President Donald Trump's trade envoy nominee Jamieson Greer told his confirmation hearing Thursday that universal tariffs were worth studying, adding that he would work to restructure global trade ties.A universal tariff "is something that should be studied and considered" to see if it can reverse the direction of the US trade deficit and offshoring, said Greer, a trade lawyer and official in Trump's first administration.
Investigators trying to determine what caused last week’s deadly midair collision between a US military Black Hawk helicopter and an American Airlines plane near Washington, DC, briefed lawmakers Thursday on what they’ve learned after combing through data from both aircraft and air traffic control.
Shattered glass and a broken door covered with police tape mark the entrance to the apartment where the reported suspect in Sweden’s worst mass shooting is believed to have lived as a recluse.
California utility company Southern California Edison on Thursday said its equipment “may be associated with” the ignition of the Hurst Fire, which burned alongside the Eaton and Palisades fires during January’s Los Angeles firestorms.
The UN's climate chief, seeking to shore up solidarity on combating global warming as the United States retreats from its leadership role, appealed to nations' self-interest in a speech Thursday.On Thursday, Europe's climate monitor said last month was the hottest January on record.
The nominations process for President Donald Trump's appointees is picking up pace, with some confirmed by the Senate and hearings scheduled for more of his Cabinet picks. Others are appearing before the committees overseeing the agencies that Trump, a Republican, wants them to run. The former Republican congresswoman from Oregon narrowly lost reelection last year but had received strong backing from union members in her district.
U.S. Homeland Security Secretary Kristi Noem plans to visit a migrant detention site in Guantanamo Bay, Cuba, as the Trump administration ramps up enforcement efforts, a department spokesperson said on Thursday. The first group of about 10 migrants was sent to Guantanamo Bay on a military aircraft on Tuesday. The Trump administration said the initial flight carried alleged members of the Venezuelan gang Tren de Aragua but did not provide details about specific charges or convictions.
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