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U.S. stocks rose Wednesday and global oil prices fell in yet another volatile trading session as traders and investors were buffeted by constant headlines about the war in Iran.

News of a 15-point U.S. peace plan proposal sparked hopes early in the day that the Trump administration was moving to end its monthlong war against Iran. Initially, the S&P 500 and the Nasdaq 100 futures rose more than 1%.

But reports that Iran had responded negatively to the proposal briefly knocked index futures off their pre-market highs and lifted oil prices off their morning lows.

Despite the early setback, stocks closed the trading day higher. At 4 p.m. ET, the S&P 500 index was up about 0.4%, the Nasdaq Composite closed 0.7% higher, and the Dow jumped 305 points. The Russell 2000 index of smaller companies rose 1.1%.

The price of U.S. crude oil also traded off its lowest levels of the day and was down only 1.4% to about $90 per barrel by late afternoon. West Texas Intermediate crude oil has soared more than 30% since the start of the war on Feb. 28. The cost per barrel is up 50% since the beginning of the year.

International Brent crude prices traded near breakeven, at around $102 per barrel. The price of heating oil, a proxy for jet fuel, dropped 6%.

The global price of oil directly affects what Americans pay at the gas pump and what it costs them to heat and cool their homes. The average nationwide price of unleaded gas Wednesday was $3.98 per gallon, according to AAA data.

“Markets desperately want to believe in the positive,” UBS Global Wealth Management chief economist Paul Donovan wrote. “Focus on the apparent 15-point US plan to end the war has received more attention than Iranian dismissals of this, or the fact that passage through the Strait of Hormuz is minimal.”

Iran’s response to the U.S. proposal included a list of five conditions for ending the war, according to Iranian state TV, which cited a senior political-security official with knowledge of the details of the proposal.

Pakistan has also offered to mediate talks to end the hostilities, four sources told NBC News. A Persian Gulf official said Pakistan had been passing messages between the two countries for the past two days.

An in-person meeting between the U.S. and Iran could be held in the coming days, two sources added.

But President Donald Trump has continued to give conflicting signals.

On March 16, Trump said he was delaying his scheduled visit to China “by a month or so” to monitor the war. On Monday, he said the Strait of Hormuz would be “open very soon.”

And on Tuesday, Trump told reporters in the Oval Office, “This war has been won.” At the same time, the U.S. is sending more than 1,000 additional troops to the Middle East, sources said.

A motorist drives past a sign displaying prices at a gas station in Oakland, Calif., on Tuesday.Godofredo A. Vásquez / AP

Since the war started, the market has experienced several days like this, when markets are whipsawed by constant back-and-forth comments.

“There’s really no way to know at this point what the facts are regarding the state of negotiations, as neither side has any real incentive to conduct talks via the press, so expect more whipsaw action as things continue to progress,” analysts at Bespoke Investment Group wrote in a client note.

They added that the “ongoing tensions continue to support higher prices [and] stoke inflation concerns” and are likely to cause central banks to remain on hold, rather than cut rates.

On the contrary, traders believe the European Central Bank and the Bank of England will both raise interest rates.

“Uncertainty remains high,” analysts at ING wrote in a note Wednesday morning. “Overall, volatility remains elevated and a geopolitical risk premium persists.”

In the 18 trading sessions since the war began, U.S. oil prices have closed down only five times. Likewise, over the same period, the S&P 500 has closed higher only seven times. Three of those higher closes were only fractional.

After Wednesday’s close, the Nasdaq was down nearly 6% for the year, while the S&P 500 was on track for a 3.5% loss so far. The majority of those losses were concentrated in the weeks since the war began.

Meanwhile, the Strait of Hormuz, through which 20% of the world’s oil supply typically passes, has remained at a near standstill since the war began.

On Monday, just five ships passed through the strait, according to data compiled by S&P Global Market Intelligence. On Tuesday, the total was six. On many days since the war started, not a single ship has passed through.

However, some of the ships passing through the strait have taken an unusual course that put them close to the Iranian coastline, potentially signaling that Tehran was keeping a tight grip on traffic flows. Two Indian ships were granted passage Tuesday after a deal with Iran, Bloomberg News reported. The Iranian navy also guided the ships.

Otherwise, hundreds of other ships loaded up with cargo, oil and liquefied natural gas remain stuck.

The U.S. Federal Communications Commission (FCC) is moving to block new foreign-made internet routers from entering the U.S. market, citing mounting concerns that overseas supply chains could expose American networks to cyber threats inside their own homes. 

The move expands the agency’s “covered list,” which bars equipment deemed to pose an unacceptable risk to national security and will effectively prevent new foreign-manufactured routers from being authorized for sale in the U.S. 

The order means new routers must be built in the United States or clear a national security review that scrutinizes ownership, supply chains and software control to be sold domestically.

“Effectively, the FCC would ban all new routers, because there are no domestic routers that meet that standard today,” Matt Wyckhouse, founder and CEO of cybersecurity firm Finite State, told Fox News Digital Wednesday. “There’s no one who can clear the bar right now.”

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The list includes communications equipment and services considered “to pose an unacceptable risk to the national security of the United States or the safety and security of United States persons,” the FCC said.

The agency warned that “malicious actors have exploited security gaps in foreign-made routers to attack American households, disrupt networks, enable espionage, and facilitate intellectual property theft,” citing multiple cases in which such devices were used in cyberattacks targeting U.S. infrastructure.

The rule applies broadly to devices produced outside the country but largely targets routers with Chinese origins. The world’s networking hardware supply is largely dependent on China for manufacturing and engineering.

Estimates in recent years indicate that devices with significant Chinese supply chain ties account for the majority of home routers used in the U.S.

TP-Link, a China-founded router manufacturer and one of the top-selling brands on Amazon, has faced growing scrutiny in Washington amid cyber incidents and broader concerns about foreign-linked networking equipment.

“Because nearly every manufacturer in this sector produces hardware abroad or relies on a global supply chain, this new requirement will set a bar for the entire industry,” a TP-Link spokesperson told Fox News Digital, calling the rule a “positive step” toward making the router industry more secure. “TP-Link has been committed to making further investments in America and has already been planning to establish U.S.-based manufacturing to complement our existing company-owned facilities in Vietnam.”

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A review of router manufacturing and supply chains by Fox News Digital indicates that nearly all major router brands sold in the United States depend extensively on Chinese manufacturing, engineering talent or components, even when marketed as American or allied products.

Companies that have shifted production to countries like Vietnam often still rely on Chinese-owned manufacturers and engineering teams, meaning the supply chain footprint remains largely unchanged.

Core elements of router development — including firmware and hardware design — are frequently supported by engineering teams based in China, raising concerns about vulnerabilities within widely used networking equipment.

“The country where a device is manufactured does not necessarily determine the security of that product,” said Wyckhouse. “There’s a pretty large global supply chain involved — from chipsets to software to final assembly.”

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Those risks have already surfaced in real-world cyber operations.

In 2023, the Justice Department disrupted a network of hundreds of compromised U.S. home and small-business routers that had been hijacked by Chinese state-backed hackers known as “Volt Typhoon.” The infected devices were used to conceal the origin of cyberattacks targeting critical infrastructure, allowing malicious traffic to appear as if it came from inside the U.S.

By routing activity through compromised devices, hackers can make attacks harder to trace and maintain access inside targeted networks.

A single router often connects dozens of devices inside a home or small business, including phones, laptops, security cameras, smart TVs and baby monitors. A compromised device can give attackers visibility into network traffic and provide a foothold to move across connected systems or launch additional attacks.

U.S. officials say the broader campaign targeted sectors including energy, water, telecommunications and transportation, part of an effort to establish access that could be used to disrupt systems during a future conflict.

The FCC’s move is the latest step in a broader push in Washington to reduce reliance on foreign — and particularly China-linked — technology across critical sectors, including telecommunications equipment, semiconductors and consumer applications.

Supporters of the policy say it addresses long-standing supply chain risks and reduces the chances of foreign adversaries gaining access to U.S. networks. But the rule could strain supply chains and push up prices, given that most routers sold in the U.S. are manufactured overseas.

Wyckhouse said there are no domestic suppliers for all products involved in router manufacturing.

 “This will definitely increase prices,” he said. “Companies will have to invest in U.S. manufacturing or retool existing operations, and that’s a major cost shift.”

The policy does not apply to routers already legally purchased or currently in use. Companies can continue selling routers that are already in the U.S. and previously approved, but once that inventory runs out, new foreign-made models would be effectively blocked unless they pass a national security review.

The rule does not mean routers already in American homes are known to be compromised. But cybersecurity officials have long warned that outdated or unpatched devices can be vulnerable, and in some cases have been used as part of larger botnet networks that support cyberattacks.

“The primary problem with routers is not where they’re made, it’s that consumers don’t update them,” said Wyckhouse. “It’s far more important to choose a router that updates automatically than one marketed as a U.S. product.”

The Chinese Embassy and relevant router companies could not immediately be reached for comment. 

Philadelphia County District Attorney Lawrence Krasner criticized the Trump administration for dispatching ICE agents to airports to assist TSA officers who have gone unpaid for weeks amid a Democrat-forced funding lapse at the Department of Homeland Security.

Krasner, a Democrat whose campaigns received funds tied to left-wing Hungarian-American billionaire George Soros, has criticized President Donald Trump and DHS for months over their immigration enforcement measures and previously threatened to “hunt down” ICE agents he believed violated city laws if there were to be a Minnesota-style situation in Pennsylvania.

On Tuesday, Krasner spoke from the airport, saying Trump administration officials have tried to confound the public and agents themselves as to what is legal behavior and what is not.

Krasner said he will not accept any phone calls from President Donald Trump asking for leniency:

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“The president cannot pardon you and yes I will put you in handcuffs, and I will put you into a courtroom, and if necessary, I will you put you a jail cell if you decide to make the terrazzo floor of this airport anything like what you did in the streets of Minneapolis,” Krasner said, addressing agents.

He claimed that situation involved “the criminal homicide of unarmed, innocent people” and that Philadelphia would not accept such actions.

“My job is to enforce the law: so this is how that works — because I know there have been efforts to confuse you, including by the Vice President of the United States. This is how it works. You commit crimes within the jurisdiction that is the city and county of Philadelphia, I prosecute you.”

Vice President JD Vance declined to comment. But, the White House lambasted separate comments from Krasner as he stood in front of a “Wooder Ice” mural for a video message.

Backed by ominous music, Krasner said Philadelphians enjoy Water Ice because it “doesn’t break the law [nor] bother us at an airport.” The “Rapid Response 47” team called Krasner’s video “sick and deranged,” adding, “If you don’t like it, Larry, tell your fellow Democrats to fund DHS.”

Krasner also noted during his airport remarks that there are law-abiding agents within DHS ranks.

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“I have a message for the good people, and there are a lot of good people [in] ICE… Keep your oath. Uphold the United States Constitution. Uphold the laws. It does not matter whether I personally approve of policies that you are following,” Krasner began, adding he believes DHS’ “mass deportations” are “immoral.”

“To any agent who might think of doing in an illegal way, I’ll be seeing you in court and you’re not going to like it because a Philly jury is not going like what you did if it is illegal.”

When a reporter appeared to mention that the city cannot instruct ICE agents, Krasner said he is not suggesting Immigration and Naturalization Services (INS) agents or ICE should not be present in Philadelphia, but that there appears to be “sort of an escalation” in the novel concept of using ICE to do the work of TSA.

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Krasner claimed ICE’s presence at airports and elsewhere has given foreigners cold feet.

He said the city saw 2,000 hotel rooms canceled for FIFA’s World Cup in June, and that he heard from Scottish fans that they would stay home because of high gas prices, airline ticket prices and the idea that their brogue could make them a target for ICE.

“There are Scottish soccer fans who do not want to come here for fear their accent will be overheard and they’re going to get a bunch of grief from ICE agents in the airports, which they’ve never experienced before. This is a direct economic hit to FIFA and all the cities where it applies. This is a direct economic hit to the city of Philadelphia.”

“It is just one more thing that this president is doing to basically wreck our economy. I wish he wouldn’t do it. Having said that, I cannot blame an ICE agent who is following orders, has come here and is standing in the corner, basically doing nothing,” he said, calling ICE’s work as TSA agents “stupid but lawful.”

Krasner’s comments come as other top Democrats have lambasted ICE’s presence in airports, including remarks from one senator who claimed people will die because of them.

“ICE agents at airports will only aggravate delays & lines — disrupting checks, interrogating travelers, dragging parents from children, detaining citizens, brutalizing families, shooting & even killing,” Connecticut Sen. Richard Blumenthal wrote on X.

“Brutal, lawless tactics common in communities across the country by masked, unidentified agents, violating basic rights — no way to help TSA or travelers,” he continued.

House Minority Leader Hakeem Jeffries of New York added separately that the last thing “the American people need is for untrained ICE agents to be deployed at airports all across the country, potentially to brutalize or in some instances kill them.”

“We have already seen how ICE conducts itself,” Jeffries continued. “These are untrained individuals when it comes to doing the current job they have, for the most part, let alone deploying them in close proximity in highly sensitive situations at airports across the country,” the East New York lawmaker added.

Fox News Digital reached out to DHS for comment.

Fox News Digital’s Elaine Mallon contributed to this report.

Congressional Democrats are pressing the Republican-controlled House to subpoena Corey Lewandowski — former Department of Homeland Security Secretary Kristi Noem’s top advisor — over his alleged role in a controversial border security ad campaign that prompted bipartisan criticism.

House Judiciary Committee ranking member Jamie Raskin, D-Md., and Rep. Joe Neguse, D-Co., sent a letter to House Judiciary Committee Chairman Jim Jordan, R-Ohio, on Wednesday demanding the committee launch an investigation and require Lewandowski to sit for a deposition.

The lawmakers argue the matter is an urgent taxpayer oversight issue and want Jordan to compel witness testimony and documents related to Lewandowski’s influence over the ad campaign.

“We urge you to use the Committee’s subpoena power to compel production of documents and communications regarding Mr. Lewandowski’s role in awarding these contracts and require Mr. Lewandowski to appear before the Committee for a deposition,” the Democratic lawmakers wrote. “Mr. Lewandowski was at the center of the Department’s advertising spending and is the person best positioned to explain how a quarter of a billion dollars in taxpayer money was spent.”

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The DHS ad campaign that prominently featured Noem — including a scene of the former secretary on horseback at Mount Rushmore — upset some GOP lawmakers, who voiced concerns about whether there was a competitive bidding process and whether the infomercials were a smart use of taxpayer dollars.

Lawmakers in both chambers grilled Noem on the topic during back-to-back hearings earlier in March, during which she testified under oath that the ad campaign had been approved through the standard competitive bid process and disputed that its purpose was to boost her public profile. 

Noem also told members of Congress that Lewandowski had “no” role in signing off on DHS contracts, but Raskin and Neguse point to reporting that appears to show the top advisor approving numerous contracts at the department.

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In the letter, the Democratic lawmakers singled out three businesses that received the $220 million ad contract, which multiple reports have found bypassed the traditional competitive bidding process.

Noem also claimed under oath that the ad campaign had President Donald Trump’s approval only for him to contradict her testimony in an interview with Reuters.

Raskin has accused Noem of perjury and has recommended that criminal charges be brought against the secretary for lying to Congress.

The Democrat-authored letter comes as Jordan has expressed concern about the ad campaign’s $220 million price tag. The lawmakers reference Jordan telling the New York Post earlier in March that “we’ll take a look at it.”

The House Homeland Security Committee has also said it is probing the controversial ad blitz.

Noem has since started a new role as special envoy to the Shield of the Americas, where she is expected to focus on immigration and border security issues.

Fox News Digital reached out to Jordan for comment.

Venezuelan political leader María Corina Machado is pitching her country as a top U.S. oil partner and “beacon of hope and wealth creation for this hemisphere” after she said the Trump administration’s arrest of former dictator Nicolás Maduro has opened up a “new era” of free markets.

Addressing several thousand oil and energy executives at the CERAWeek conference in Houston, Machado, who until recently lived in the U.S. as a political exile, predicted that Venezuela will soon be a critical contributor to U.S. prosperity.

She thanked President Donald Trump and Energy Secretary Chris Wright for laying the groundwork for a “new chapter” in Venezuela, which she said will greatly benefit the U.S. She touted Venezuela’s energy potential, calling its reserves the “largest proven oil reserve in the world” and its natural gas supply the seventh-largest globally.

“For decades, all this was locked away by ideology and corruption; that time is ending,” she said, adding, “A new era has already begun with an upside of a completely different order of magnitude.”

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Machado said that since the Trump administration’s covert operation to topple the socialist Venezuelan dictator, “important steps have been taken to re-engage Venezuela’s oil and gas sector and begin addressing years of institutional decline and corruption.” She predicted that Venezuela would soon “turn from the criminal hub of the Americas” and instead become a “driving force in the global energy sector.”

“After Jan. 3, we finally feel that freedom is at the threshold; we are there,” she said.

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Though current Venezuelan President Delcy Rodríguez is a lieutenant of Maduro, Machado predicted that the next election, which she said will likely be at least nine months away, will show “overwhelming” support for democratic free-market capitalism. She vowed that the government would “get out of the way,” saying, “We have learned the cost of socialism… We want open markets.”

“It takes at least nine months, or 40 weeks, from a technical perspective to have perfect, free and fair elections. But they will take place. And when they do, you will see the awakening of a country that will turn into the beacon of hope and wealth creation for this hemisphere.”

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After her address, Machado received a standing ovation from the auditorium full of oil and energy leaders. On a panel discussing her speech, S&P Global Vice Chairman Daniel Yergin said Machado “answered a lot of the questions” that energy executives had.

However, another panelist, Luisa Palacios, a senior research scholar at the Center on Global Energy Policy, said Venezuela still has a “long way” to go before enough confidence builds in the country to attract significant oil investment.

Part 3 of a five-part Fox News Digital series investigating the House of Singham documents the “Propaganda Work” that Mao Zedong taught as critical to winning the People’s War. This reporting includes analysis using cutting-edge technology, including large-language modeling.

Early Tuesday, CodePink professional activist Olivia DiNucci raised her fist as she stood on the deck of a boat renamed “Granma 2.0,” in a tribute to the yacht Fidel Castro’s guerrillas used to launch the Cuban Revolution in 1956.

Standing behind a banner reading “LET CUBA LIVE” as the boat arrived at the port of Havana, DiNucci, who normally organizes protests in Washington, D.C., mugged for the cameras with her fellow revolutionaries, chanting and pumping their fists in the air, as camera crews rolled.

Luis De Jesús, who writes for a site called BreakThrough News, recorded the arrival, part of days of coverage promoting the cause of pro-communism activists, including the Irish hip-hop trio Kneecap, and packaging the week’s activities not just as activism, but as revolutionary political “resistance” against the U.S. “empire.”

By afternoon, BreakThrough News posted a video of De Jesús’ report on the boat’s arrival, with a beaming DiNucci on board. Other pro-communist media platforms turned the staged event into a media moment, from the Cuban News Agency to Brazil de Fato.

The scene offered a real-time glimpse of how a network built by an American-born, China-based tech tycoon, Neville Roy Singham, turns activism into propaganda and then propaganda into political and psychological weapons. In this case, the story of the Granma 2.0 framed Cuba as a victim of the imperialist U.S., and Cuba’s communist benefactor and trading partner – China – as a liberator, providing rice to a hungry citizenry.

As he fought the People’s War in the late 1930s in China, infamous communist leader Mao Zedong emphasized the importance of “Propaganda Work” and “the practice of changing reality.”

Decades later, Chinese Premier Xi Jinping announced a strategy of “telling China’s story well.”

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Last fall, pro-China academics, like Vijay Prashad, a trusted communist in Singham’s inner circle, spoke at a conference of the Global South Academic Forum about creating a “New World Information and Communication Order,” an idea popularized in the 1980s by Third World countries now called the “Global South.” 

The conference was co-sponsored by Singham, Prashad’s Tricontinental Ltd. think tank and the Shanghai-based East China Normal University, and administered by the Chinese Communist Party. The university features a School of Marxism and teaches “Marxist journalism.” Singham, Prashad and conference attendees closed the conference, standing at attention as “The Internationale,” a communist anthem played, attendees pumping their fists in the air in solidarity.

A Fox News Digital investigation found that the “new information” strategy operates through a network of organizations that produce, fund and amplify messaging across borders. 

Fox News Digital has identified at least 200 organizations in Singham’s network of about 2,000 organizations that directly work on propaganda that parrots the anti-American messaging of the Chinese Communist Party but is dramatically homegrown in digital shops from New York City to Los Angeles.

The investigation found that three Singham-linked U.S. nonprofits sent a total of $9.1 million in seven payments to a pro-China propaganda firm, Shanghai Maku Cultural Communications Co. Ltd. The payments haven’t been reported before.

Using large-language models, Fox News Digital analyzed 223 transactions that moved $591 million in total across five continents from 2017 through 2025, the latest year for which figures are available, in the Singham network and found the money flows through five concentric rings of an ideological pipeline that spreads pro-China propaganda.

Eleven U.S. nonprofit organizations form a core hub of the work that pumps pro-China, anti-America propaganda into the world, with a total of about $401 million flowing from Singham and his network into these organizations. The organizations didn’t respond to requests for comment.

Fox News Digital previously documented $278 million that flowed directly from Singham into organizations that “sow discord” in the U.S., as House Ways and Means Chair Jason Smith put it recently at a hearing on foreign malign influence in the nonprofit industry. The rest went through layers of funding.

The 11 nonprofits and their total revenue from within the Singham network, including direct contributions from Singham himself, make most of these organizations well-funded: 

  • BreakThrough BT Media: $3.5 million, with $1.1 million directly from Singham
  • CodePink Women for Peace: $1.8 million, with $1.3 million from SIngham
  • Inter-Religious Foundation for Community Organization Inc.: $420,000
  • Justice and Education Fund Inc.: $74.2 million, with $68.7 million from Singham
  • People’s Dispatch: $1.9 million
  • People’s Forum Inc.: $28 million, with $22.4 million from Singham
  • People’s Support Foundation: $181.8 million, with $167.5 from Singham
  • People’s Welfare Association: $70 million
  • Progress Unity Fund: $442,524, with additional revenues from other sources
  • Tricontinental Ltd.: $16.8 million from Singham
  • United Community Fund: $21.8 million

Mao’s strategy relied on embedding revolutionary actors within social, cultural, labor and educational organizations to shape public consciousness, normalize radical narratives and gradually erode the legitimacy of the state from within. 

Similarly, experts say, Singham’s network cultivates activist ecosystems, using nonprofits and advocacy groups as force multipliers and framing local political and social conflicts as part of a broader systemic struggle. 

That same dynamic is visible in real time, as protests, trips and political events are filmed, packaged and circulated as part of a broader narrative. DiNucci is a key figure, for example, regularly getting filmed and then broadcast on Singham network social media channels, interrupting the dinners, hearings and events of Trump administration officials.

In this model, disruption and polarization aren’t incidental but strategic, designed to weaken societal cohesion and authority over time, precisely the conditions Mao argued are necessary for victory against a stronger adversary.

“There is a war waging for the brains of Americans. It’s critical that America shore up its defenses before the nation is hijacked by confusion, manipulation and malign narratives,” psychologist Orli Peter told Fox News Digital.

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‘Information Laundering Operation’

A Fox News Digital investigation, scouring scores of financial filings, writings and social media posts, shows not only money moving from Singham-funded entities into U.S. nonprofits, but these nonprofits in turn funding media production, political education and organizing campaigns that promote the narrative of the Chinese Communist Party. The U.S. nonprofits pushing the anti-America agenda benefit from tax-exempt status and tax-deductible donations.

What begins as content — videos, livestreams and commentary — often feeds directly into organizing and protest activity, creating a feedback loop between messaging and action.

“Neville Roy Singham and Jodie Evans are running an information laundering operation,” said Adam Sohn, co-founder of the Network Contagion Research Institute, a multidisciplinary lab in Princeton, N.J. “It’s a narrative laundering operation that is selling China’s story to the world and sowing discord in America.”

“Neville Roy Singham and Jodie Evans are running an information laundering operation. It’s a narrative laundering operation that is selling China’s story to the world and sowing discord in America.” – Adam Sohn, co-founder of the Network Contagion Research Institute, a multidisciplinary lab in Princeton, N.J.

A wedding in Jamaica in February 2017 between Singham and Jodie Evans, co-founder of CodePink Women for Peace, brought together ideologues who would later appear on the boards, funding streams and public messaging of this network. Tax filings document the transfers. The emergence of a network of “Liberation Centers” document the physical infrastructure.

That network has matured into a transnational protest and media machine. Nearly a decade later, its infrastructure is visible on American streets, coordinated, funded and amplified by groups built quietly, deliberately and in plain sight. Singham and Evans didn’t respond to requests for comment.

Last week, BreakThrough News broadcast DiNucci outside the White House protesting to support the regime that the U.S. and Israel are targeting with missile strikes in the Islamic Republic of Iran.

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Shanghai Maku Cultural Communications Co.

Part of that system operates overseas, where funding supports media production aligned with Chinese Communist Party narratives. Significantly, there are a series of two line items that reveal just how closely this supposed charitable network works with organizations tied to the Chinese Communist Party.

Buried inside the tax filings are the receipts on how three U.S. nonprofits from the Singham network sent seven payments totaling $9.1 million in money back to Shanghai to pay a pro-China propaganda firm, Shanghai Maku Cultural Communications Co. Ltd., housed in the same luxury building as Singham’s operation. It’s not far from the university where Singham’s sister holds an academic position.

Guo Xiao, a former executive at Thoughtworks, the tech company founded by Singham and sold in 2017 for nearly $800 million, sits on the board of Shanghai Maku Cultural Communications, according to company records. Xiao didn’t respond to a request for comment.

Shanghai Maku Cultural Communications Co. identifies itself as producing content aligned with Chinese Communist Party narratives. 

Beginning in 2021, according to Fox News Digital analysis, three organizations from Singham’s network sent over $9 million directly to Shanghai Maku Cultural Communications Co. in seven payments for “production of online news program,” according to its tax filing.

BreakThrough BT Media Inc. 

One of the key organizations inside the broader transnational media apparatus in the Singham network is BreakThrough News, whose reporter met the Granma 2.0 at the port in Havana.

In a letter he sent to BreakThrough News last month, Smith said the House Ways and Means Committee is concerned that BreakThrough News is “part of a larger multipronged effort from the CCP to sow discord in our country” and that it has been “funded and influenced by Mr. Singham’s CCP affiliations.”

In early December 2019, BreakThroughNews.org was registered online. Early the next year, in early March 2020, “Breakthrough / BT Media Inc.” was registered in Delaware as a new company. It got IRS 501(c)(3) nonprofit status in June 2020 as Breakthrough BT Media Inc. 

Singham gave a total of $1.1 million to BreakThrough BT Media Inc. over two years with the purpose of the tax-deductible donations written simply as “public service” and “medical / public services” in IRS Form 990 filings.

In its first IRS filing, documenting its 2020 work, Breakthrough BT Media Inc. listed familiar names among its three-person board of directors. Ben Becker, the son of another trusted Singham adviser, Brian Becker, was the chairman of the board. Today, Becker is on the Party for Socialism and Liberation’s “Central Committee.” Becker was also in Cuba this week to support the communist regime.

Another director was Claudia De La Cruz, a leader at the Party for Socialism and Liberation with Becker and a wedding guest.

Finally, a socialist leader named Karla Reyes was on the board. She is the daughter of immigrants from El Salvador and rose in the ranks from joining Occupy Wall Street protests to landing a spot on the Central Committee of the Party for Socialism and Liberation. She is today an active member of “ICE Out of New York,” started by the People’s Forum, its protests filmed regularly by BreakThrough News.

In his letter to Reyes, Smith demanded records related to the organization’s ties to Singham and the Chinese Communist Party. He requested that Treasury Secretary Scott Bessent remove the nonprofit status of organizations in the Singham network. 

While BreakThrough News doesn’t usually name the Chinese Communist Party directly, it regularly lauds Xi’s regime. In 2021, BreakThrough News’ host Rania Khalek promoted the “Chinese government” and its “eradication of extreme poverty within its border.” She co-hosted the session with Tings Chak, a researcher at Tricontinental, the arm of the House of Singham that pumps out pro-China academic work.

The Singham network functions like a coordinated unit. In 2022, People’s Forum gave BreakThrough a “non-cash” lease worth $318,596 for studio space at its W. 37th Street address. 

BreakThrough’s mission statement claims to be “unbiased towards any political candidates,” but the far-left outlet even created videos during the 2024 presidential election highly critical of Democratic candidate Kamala Harris as wanting to “out-Trump Trump.”

What began as a small, ideologically driven news platform became a broad multimedia machine producing documentaries, podcasts and social media content that amplified protest movements, international solidarity campaigns, especially around Palestinian issues and “anti-imperialist,” anti-America narratives. 

It’s a member of the International People’s Media Network, another part of the global House of Singham and a coalition of media platforms often publishing anti-America, pro-China content and sharing personnel with Tricontinental.

In 2023, BreakThrough News sent representatives to a conference hosted by the School of Communications at the East China Normal University, the public institution funded by the Chinese Communist Party’s Ministry of Education. Singham’s sister, Shanti Singham, and his friend, Prashad, work closely with those institutions. 

Following the arrest of Venezuelan leader Nicolás Maduro, groups in Singham’s network organized protests within hours. BreakThrough News posted videos from the demonstrations. It did the same with protests against Immigration and Customs Enforcement.

NewsClick

Fox News Digital has also tracked $10.5 million the Justice and Education Fund sent to New Delhi-based PPK NewsClick Studio Pvt. Ltd. in five payments from 2019 through 2023 when the government of India shut the operation down for allegedly using donations improperly to run an anti-India, pro-China propaganda media outlet.

The government of India has sent Singham a criminal summons for alleged election interference, money laundering and terrorism, alleging he engaged in schemes to sow discord in India. The NewsClick case is still awaiting a trial date.

National security experts say it is critical to understand the big picture to fully value the command control of this global propaganda war with a tech tycoon as the motherlode.

Back in Havana, as DiNucci stepped onto the dock and cameras rolled, the moment reflected more than a single act of activism.

It showed how the Singham network’s messaging system works in real time, capturing events, shaping narratives and distributing them to audiences far beyond the street or, in this case, the dock.

In Mao’s terms, it is “Propaganda Work,” not just reporting on the news, but helping define it.

From the dock in Havana, DiNucci played her role, shouting, “Viva la Cuba.”

Fox News Digital’s Brooke Caruto, Nikolas Lanum and Kyle Schmidbauer contributed to this report.

FIRST ON FOX: An unlikely bipartisan duo is teaming up to force defense contractors to prioritize military readiness over shareholder value.

Sens. Josh Hawley, R-Mo., and Elizabeth Warren, D-Mass., introduced legislation that would require major defense contractors to prioritize delivering weapons by fulfilling their contracts fueled by taxpayer dollars over rewarding shareholders, with stiffer guardrails and oversight on the companies.

Their bill, Prioritizing the Warfighter in Defense Contracting Act of 2026, would restrict stock buybacks, dividends and high executive pay unless companies meet Pentagon performance standards in their contracts.

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“America’s defense contractors should be focused on expanding production, not padding their bottom lines,” Hawley said in a statement to Fox News Digital. “But even as they make record profits, some firms have spent big on stock buybacks, dividend payouts and exorbitant executive salaries.”

The lawmakers argued that for several years, defense contractors have struggled to deliver weapons systems on time, on budget or in sufficient quantities for the military, and instead dumped the eye-popping sums of taxpayer money flowing to them into their own coffers, rather than invest in research and development that could speed up the process.

They pointed to a Government Accountability Office (GAO) report published last year that found that defense acquisition programs were plagued by delays and cost overruns, with delays for major programs increasing “by 18 months” in just the last year, with combined cost estimates creeping over $49 billion during the same period.

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Since 2021, the top four defense contractors — Lockheed Martin, Raytheon, General Dynamics and Boeing — have increased spending and spent $89 billion on stock buybacks and dividends. Two-thirds of that came from taxpayer dollars, according to Warren’s office.

“It makes no sense for the federal government to fork over billions in taxpayer dollars to giant military contractors while their executives buy back their own company’s stock instead of investing in our national defense,” Warren said in a statement to Fox News Digital. “This bipartisan bill will stop defense contractors from abusing the system at taxpayer expense and put our national security over Wall Street profits.”

The legislation also gives the Pentagon more oversight tools to identify underperforming defense contractors and require those contractors to submit a remediation plan.

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It also grants the Department of War stronger enforcement powers for contractors that aren’t meeting the agency’s standards, including suspending contract payments, ending eligibility for progress payments or terminating contracts altogether.

Hawley and Warren’s bill would also require the Pentagon to provide public reports on the contractors subject to their law, which contractors were granted waivers from the change in requirements and which companies have violated the rules.

The legislation would also codify an executive order President Donald Trump signed earlier this year that required a similar crackdown on underperforming defense contractors.

“Earlier this year, President Trump led the way with an executive order barring underperforming defense companies from engaging in these practices,” Hawley said. “Now, it’s time for Congress to act by codifying the President’s executive order into law, ensuring that America’s warfighters are prioritized over corporate profit.”

House Minority Leader Hakeem Jeffries, D-N.Y., once said that failing to fully fund the Department of Homeland Security (DHS) was “legislative malpractice” — a position he is now rejecting in the current funding standoff with Republicans.

“We are here today to do a single job, and that should be to fund fully the Department of Homeland Security,” Jeffries said during a 2015 speech on the House floor. 

Jeffries, near the start of his congressional career, urged the Republican-controlled House to pass a “clean” DHS bill that year when the department was on the brink of a partial government shutdown.

“Anything else is an abdication of our responsibility. Anything else is an act of legislative malpractice,” Jeffries said at the time, referring to providing full-year appropriations to the department.

REPORTER’S NOTEBOOK: GOP EYES DHS DEAL FUNDING ICE PROBES, BUT NOT REMOVALS, AS SHUTDOWN DRAGS

A decade later, Jeffries has reversed that position, arguing that fully funding DHS would be a failure of Congress. He and Senate Minority Leader Chuck Schumer, D-N.Y., have withheld their votes on a full-year DHS funding bill as they demand various reforms to rein in immigration enforcement.

“Taxpayer dollars should be used to make life more affordable for the American people, not brutalize or kill them,” Jeffries said in February. “The American people know ICE [Immigration and Customs Enforcement] is out of control.”

The 39-day funding standoff has snarled air travel across the country as passengers face hours-long wait times at airport security checkpoints due to a shortage of TSA workers. Tens of thousands of DHS employees — including TSA agents — are reporting to work without pay during the shutdown, leading some to call off work or quit altogether.

Some TSA personnel are sleeping in cars and selling blood plasma to make ends meet, Acting Deputy TSA Administrator Adam Stahl said Tuesday.

Jeffries is expected to vote against a full-year DHS measure with a majority of House Democrats this week. The minority leader has repeatedly voted against a “clean” DHS spending measure since the funding lapse began on Feb. 14.

EXCLUSIVE: HOUSE REPUBLICANS TO HOLD HEARING ON DHS SHUTDOWN RISKS AMID TRAVEL SURGE

House Speaker Mike Johnson, R-La., has narrowly steered the legislation through his chamber with largely Republican votes, but the spending measure has stalled in the Senate with nearly all Democrats moving to filibuster it. 

Jeffries, by contrast, is seeking to force a vote on a DHS appropriations bill that would fund the department minus its immigration enforcement functions. 

“We can fund TSA, fund the Coast Guard, fund FEMA, fund our cybersecurity professionals or continue to allow ICE to brutalize and, in some cases, kill American citizens or to violently target law-abiding immigrant families,” Jeffries said during a news conference last week.

It’s a position that he warned could put Americans in danger during the 2015 speech.

“We’re playing political games at a time when the safety and the security of the American people is being threatened,” Jeffries said regarding the prospect of not passing a full-year DHS bill.

A spokesperson for Jeffries did not immediately respond to Fox News Digital’s request for comment.

A former accountant and lawyer for the disgraced financier Jeffrey Epstein both told the House Oversight Committee earlier this month that the Department of Justice had never interviewed them about Epstein’s crimes.

“I’ve never been questioned by any government authority,” Epstein’s ex-accountant Richard Kahn said.

He noted that he had received a grand jury subpoena from the Southern District of New York and from the U.S. Virgin Island’s Department of Justice for documents about Epstein’s property.

“Both of the requests were for the same thing. They were asking for Epstein’s estate documents. They wanted to see his will and his 1953 trust,” Kahn said.

HOUSE OVERSIGHT SUBPOENAS AG BONDI IN PROBE OF EPSTEIN CASE ‘MISMANAGEMENT’

Similarly, Darren Indyke said he had never been asked about Epstein’s dealings.

“Personally, no,” Indyke told the Oversight Committee. “I don’t believe I have.”

When asked if that surprised him, Indyke told investigators he believed it was consistent with the scope of his employment.

“Given my role as a transactional attorney for Mr. Epstein, no,” Indyke said.

Epstein, a former financier with a formidable social circle, died in 2019 while imprisoned on charges of sex trafficking minors. His death, which was ruled a suicide, left behind questions about whether Epstein had facilitated illegal sexual encounters for some of his contacts and prompted public demands for accountability for possible accomplices.

Like many public figures, Kahn and Indyke both appear in the Epstein Files — troves of documents released by the DOJ in compliance with the Epstein Files Transparency Act.

HOUSE OVERSIGHT COMMITTEE CALLS BILL GATES, LEON BLACK TO TESTIFY OVER JEFFREY EPSTEIN TIES

Their communications in the files do not, on their own, implicate any wrongdoing, and neither does their appearance before the House Oversight Committee.

Their depositions come among a series of other interviews from lawmakers on Capitol Hill. Interviewers have called figures like former President Bill Clinton, former Secretary of State Hillary Clinton, billionaire businessman Les Wexner and Epstein’s accomplice and romantic partner Ghislaine Maxwell to deliver testimony.

So far, none of the subjects interviewed by the Oversight Committee has faced charges for their proximity to Epstein, except for Maxwell. She was convicted in 2022 on charges of exploiting underage girls.

Indyke, the attorney, said he was aware of Epstein’s original 2008 plea deal in Florida, where he admitted to soliciting a minor for prostitution.

“He was adamant that he had no idea that anyone involved was underage and personally assured me that he would never again let himself be in that position. I believed him, and I made the mistake of believing that Mr. Epstein would not again commit a crime,” Indyke said.

GHISLAINE MAXWELL PLEADS FIFTH AMENDMENT, DODGES QUESTIONS IN HOUSE OVERSIGHT EPSTEIN PROBE

Kahn, Epstein’s accountant, gave a similar statement.

“Epstein told me his 2006 arrest was a mistake, that he did not know the woman was underage, and that nothing like that would happen again,” Kahn said.

“I believed him at the time and never saw what appeared to be a minor in his presence. Had I learned of his horrific behavior, I would have quit work immediately,” Kahn added.

Fox News Digital reached out to Kahn and Indyke for comment.

An embattled lawmaker facing five decades in prison will face the congressional spotlight Thursday during an ethics trial that could result in her expulsion from the House of Representatives.

Rep. Sheila Cherfilus-McCormick, D-Fla., is expected to testify before the House Ethics Committee during a rare public hearing Thursday afternoon. The case is separate from a sprawling federal indictment accusing Cherfilus-McCormick of stealing more than $5 million in disaster relief funds to finance her inaugural congressional run in 2021 and purchase luxury items, including a large diamond ring. The Florida Democrat is also alleged to have participated in a straw donor scheme and conspired to file a false federal tax return.

Cherfilus-McCormick has repeatedly sought to delay the hearing, citing the ongoing federal criminal case and losing her legal representation earlier in March. It is not clear whether the Florida Democrat will be represented by an attorney at the hearing. 

Cherfilus McCormick said in a statement sent to Fox News that she is “deeply disappointed” the bipartisan committee chose to proceed with a trial, alleging a violation of her due process rights.

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“I urge the Committee to follow its own precedents and uphold fairness and not allow this process to be driven by politics or numbers,” Cherfilus-McCormick said. “I welcome the opportunity to set the record straight and challenge these inaccuracies, when I am legally able to do so.”

Cherfilus-McCormick has denied wrongdoing after being indicted in November 2025 and pleaded not guilty in federal court. She has repeatedly defied calls from Republicans to resign — a move that would have avoided the ethics hearing and possible expulsion.

According to the indictment, Trinity Health Care Services, a company owned by Cherfilus-McCormick and her brother, Edwin Cherfilus, received $5 million in Federal Emergency Management Agency (FEMA) overpayment from the state of Florida for a COVID-19 vaccine contract.

Rather than return the money, federal prosecutors allege the duo laundered the money through multiple bank accounts to hide its origin.

The House Ethics Committee unveiled a 27-count “statement of alleged violations” against Cherfilus-McCormick that is expected to be presented during the hearing Thursday. 

The hearing itself is extremely rare. It will be the first time the eight-member panel will hold a public hearing against a lawmaker since 2010.

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Rep. Greg Steube, R-Fla., has said he would move forward with a resolution seeking to expel Cherfilus-McCormick regardless of the trial’s outcome. Under House rules, two-thirds of lawmakers — meaning a swath of Democrats — would need to vote in the affirmative to expel the Florida Democrat. 

“You’re in a situation where you have a sitting member of Congress who’s allegedly stolen over $5 million in taxpayer funds,” Steube told reporters Tuesday. “She should immediately resign instead of going through this process. But she’s going to force us to do this.”

Steube also said a possible recommendation of expulsion from the committee could force Democrats to support his resolution.

“If the committee in a bipartisan manner, it recommends an expulsion that puts the Democratic caucus in a very tough position because you would be undermining your own members on the Ethics Committee.”

But House Democratic leadership, who have largely defended Cherfilus-McCormick, has yet to say whether they would support an expulsion resolution following the hearing’s conclusion. 

Cherfilus-McCormick was among a group of Democrats who stood behind House Minority Leader Hakeem Jeffries, D-N.Y., when he gave remarks on the Department of Homeland Security (DHS) shutdown outside the U.S. Capitol last week. He responded, “next question,” when asked by Fox News about the expulsion threat on Tuesday.

“I’m not going to prejudge the outcome that they arrive to,” House Democratic Conference Chairman Pete Aguilar, D-Calif., said Wednesday. “I respect the members of the ethics committee and the work that they have to do.”

Democrats’ refusal so far to condemn Cherfilus-McCormick has prompted sharp criticism from Republicans. 

“So-called ‘Leader’ Hakeem Jeffries talks a big game on corruption, but when it’s one of his own, he suddenly loses his voice,” NRCC spokesman Mike Marinella said in a statement. 

Some Republicans have also complained about a double standard with the chamber’s treatment of Cherfilus-McCormick by making comparisons to former Rep. George Santos, R-N.Y. The scandal-plagued lawmaker was expelled from Congress in 2023 before an ethics hearing or criminal conviction.

“It seems like what happened to George was just like a runaway freight train up here,” Rep. Byron Donalds, R-Fla., said Wednesday. “They didn’t even give George an opportunity to get fully through ethics. And so this one’s been a little bit more deliberate.”

“I think going forward, how this one’s been conducted is how it should go,” Donalds added, referring to the anticipated Cherfilus-McCormick hearing. “It should be deliberate before these kind of judgments just end up on the House floor.”