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Earlier this year, Elon Musk’s Department of Government Efficiency (DOGE) uncovered $4.7 trillion in untraceable Treasury Department payments. 

Prior to the discovery, Treasury Account Symbol (TAS) identification codes were optional for $4.7 trillion in Treasury Department payments, so they were often left blank and were untraceable. The field is now required to increase ‘insight into where the money is actually going,’ the Treasury Department and DOGE announced in February. 

‘Of the 1.5 billion payments that we send out every year, they are required to have a TAS, a Treasury Account Symbol. We discovered that more than one third of those payments did not have a TAS number,’ Treasury Secretary Scott Bessent said before the House Appropriations Subcommittee on Financial Services and General Government earlier this month. 

Fox News Digital asked Republican senators on Capitol Hill to respond to the approximately 500,000 in untraceable payments made by the Treasury Department each year. 

‘I’m not surprised at all, unfortunately,’ Sen. Roger Marshall, R-Kansas, said before adding, ‘They were leaving complete fields undone when they were filling out their financials, so this is a common theme. I’m not surprised.’

Sen. Eric Schmitt, R-Missouri, called for an investigation into where those payments actually went. 

‘There’s so much waste. There’s so much fraud, There’s so much abuse in our government,’ Schmitt told Fox News Digital. ‘I’m glad there was a laser-like focus on it. We ought to make many of those reforms permanent, but there probably ought to be some investigations here about where this money actually went. I mean this is taxpayer money. People work hard.’

After DOGE and the Treasury Department uncovered $4.7 trillion in untraceable funds, Marshall and Sen. Rick Scott of Florida introduced a bill in March requiring the Treasury Department to track all payments. 

The Locating Every Disbursement in Government Expenditure Records (LEDGER) Act seeks to increase transparency in how the Treasury Department spends taxpayer money. 

‘When you hear about this story that they didn’t know where the money was going, it makes you mad because this is somebody’s money, this is taxpayers’ money when we have almost $37 trillion in debt, so this makes no sense at all,’ Scott said. 

The Congressional Budget projects that interest payments on America’s national debt will total $952 billion in fiscal year 2025. That’s $102 billion more than the United States’ defense budget at $850 billion. 

‘We paid out more last year on our debt, $36 trillion in debt, with $950 billion in interest going to bondholders all over the world, including in China. That $950 billion didn’t go to build a bridge or an F-35. We paid more on the interest on debt than we did to fund our military,’ said Sen. Dan Sullivan, R-Alaska. 

‘That is an inflection point that when most countries hit, you look at history, that’s when great powers start to decline. So we have to get those savings.’

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President Donald Trump spoke with Russian President Vladimir Putin about ending the war in Ukraine, hosted the president of South Africa at the White House and threatened more stringent tariffs against the European Union this week. 

During South African President Cyril Ramaphosa’s Oval Office visit on Wednesday, Trump got into a testy exchange with the South African leader about the treatment of White farmers there. Specifically, Trump aired a video that showed white crosses that Trump said were approximately 1,000 burial sites of White Afrikaner South African farmers. 

Trump has repeatedly asserted these farmers are being killed and pushed off of their land.

Trump told Ramaphosa at the White House that the burial sites by the side of the road are visited by those who want to ‘pay respects to their family member who was killed.’ 

‘Now this is very bad. These are burial sites right here. Burial sites — over a thousand — of White farmers. And those cars are lined up to pay love on a Sunday morning. Each one of those white things you see is a cross. And there is approximately a thousand of them,’ Trump said. ‘They’re all White farmers. The family of White farmers. And those cars aren’t driving, they are stopped there to pay respects to their family member who was killed. And it’s a terrible sight. I’ve never seen anything like it. On both sides of the road, you have crosses. Those people are all killed.’

‘Have they told you where that is, Mr. President?’ Ramaphosa said. ‘I’d like to know where that is. Because this I’ve never seen.’ 

‘I mean, it’s in South Africa, that’s where,’ Trump said. 

‘We need to find out,’ Ramaphosa said.

The White House defended showing the clip and said that the video was ‘substantiated,’ following reports that emerged after the encounter that said the crosses were from a memorial demonstration following the murder of a White farming couple, not actual burial sites.

Here’s what also happened this week:

Call with Putin 

Trump and Putin spoke over the phone on Monday to advance peace negotiations ending the war between Moscow and Kyiv. The call occurred just days after Russia and Ukraine met in Turkey to conduct their first peace talks since 2022. 

After the call, Trump said both countries would move toward a ceasefire and push discussions to end the war. But, Trump indicated that the U.S. would let Moscow and Kyiv take the lead on negotiations after his call with Putin. 

‘The conditions for that will be negotiated between the two parties, as it can only be, because they know the details of a negotiation that nobody else would be aware of,’ Trump said in a Monday post on Truth Social. 

Additionally, Trump has continued to distance the U.S. from the conflict this week, describing the conflict as a ‘European situation.’ 

‘Big egos involved, but I think something’s going to happen,’ Trump told reporters on Monday. ‘And if it doesn’t, I’ll just back away and they’ll have to keep going. This was a European situation. It should have remained a European situation.’

Trump expressed similar sentiments on Wednesday when Ramaphosa visited and stated: ‘It’s not our people, it’s not our soldiers… it’s Ukraine and it’s Russia.’ 

‘Evils of antisemitism’

The White House condemned the fatal attack against two Israeli Embassy employees in Washington, D.C., on Wednesday, labeling that incident an act of antisemitism. 

A gunman opened fire and killed Yaron Lischinsky and Sarah Lynn Milgrim as they were leaving an event at the Capital Jewish Museum. The two were planning to get engaged next week in Jerusalem, White House press secretary Karoline Leavitt said at a press briefing.

Authorities arrested a pro-Palestinian man identified as 31-year-old Elias Rodriguez of Chicago in connection with the attack, according to officials.

In response, Trump and other leaders of his administration said attacks like these must stop and said that those responsible will face justice. 

‘These horrible D.C. killings, based obviously on antisemitism, must end, NOW!’ Trump wrote in a Truth Social post. ‘Hatred and Radicalism have no place in the USA. Condolences to the families of the victims. So sad that such things as this can happen! God Bless You ALL!’

Leavitt later told reporters she’d spoken with Attorney General Pam Bondi and that those who conducted the attack would face prosecution. 

‘The evil of antisemitism must be eradicated from our society,’ Leavitt told reporters on Thursday. ‘I spoke to the attorney general this morning. The Department of Justice will be prosecuting the perpetrator responsible for this to the fullest extent of the law. Hatred has no place in the United States of America under President Donald Trump.’

EU tariff threats

Trump threatened to slap a 50% tariff on imports from the European Union on Friday amid ongoing trade negotiations and after locking down a trade deal with the U.K. 

The deal with the U.K. is the first historic trade negotiation signed following Liberation Day, when Trump announced widespread tariffs for multiple countries on April 2 at a range of rates. 

The administration later adjusted its initial proposal and announced on April 9 it would immediately impose a 145% tariff on Chinese goods, while reducing reciprocal tariffs on other countries and the EU to a baseline of 10% for 90 days. 

 

‘Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable,’ Trump wrote in a Truth Social post on Friday about the EU. 

‘Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025,’ he said. 

Treasury Secretary Scott Bessent later said in an interview with Fox News he hoped the warning would ‘light a fire under the EU’ and signaled Trump’s threats stemmed from frustration negotiating with European countries on trade deals. 

‘EU proposals have not been of the same quality that we’ve seen from our other important trading partners,’ Bessent said. 

Fox News Digital’s Greg Norman contributed to this report. 

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President Donald Trump on Friday cleared the merger of U.S. Steel and Nippon Steel, after the Japanese steelmaker’s previous bid to acquire its U.S. rival had been blocked on national security grounds.

“This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy,” Trump said in a post on his social media platform Truth Social.

U.S. Steel’s headquarters will remain in Pittsburgh and the bulk of the investment will take place over the next 14 months, the president said. U.S. Steel shares surged more than 20% to close at $52.01 per share after Trump’s announcement.

Pennsylvania Gov. Josh Shapiro applauded the agreement, saying he worked with local, state and federal leaders ‘to press for the best deal to keep U.S. Steel headquartered in Pittsburgh, protect union jobs, and secure the future of steelmaking in Western Pennsylvania.’

In his own statement, Lieutenant Gov. Austin Davis called the announcement ‘promising,’ but added: ‘I want to make sure everyone involved in the deal holds up their end of the bargain. I look forward to seeing the promised investments become a reality and the workers receive everything they’ve fought for.’

President Joe Biden blocked Nippon Steel from purchasing U.S. Steel for $14.9 billion in January, citing national security concerns. Biden said at the time that the acquisition would create a risk to supply chains that are critical for the U.S.

Trump, however, ordered a new review of the proposed acquisition in April, directing the Committee on Foreign Investment in the United States to determine “whether further action in this matter may be appropriate.”

Trump said he would hold a rally at U.S. Steel in Pittsburgh on May 30.

This post appeared first on NBC NEWS

United Airlines reached an “industry-leading” tentative labor deal for its 28,000 flight attendants, their union said Friday.

The deal includes “40% of total economic improvements” in the first year and retroactive pay, a signing bonus, and quality of life improvements, like better scheduling and on-call time, the Association of Flight Attendants-CWA said.

The union did not provide further details about the deal.

United flight attendants have not had a raise since 2020.

The cabin crew members voted last year to authorize the union to strike if a deal wasn’t reached. They had also sought federal mediation in negotiations.

U.S. flight attendants have pushed for wage increases for years after pilots and other work groups secured new labor deals in the wake of the pandemic. United is the last of the major U.S. carriers to get a deal done with its flight attendants.

The deal must still face a vote by flight attendants, and contract language will be finalized in the coming days, United said.

This post appeared first on NBC NEWS

The once-solid relationship between President Donald Trump and Apple CEO Tim Cook is breaking down over the idea of a U.S.-made iPhone.

Last week, Trump said he “had a little problem with Tim Cook,” and on Friday, he threatened to slap a 25% tariff on iPhones in a social media post.

Trump is upset with Apple’s plan to source the majority of iPhones sold in the U.S. from its factory partners in India, instead of China. Cook confirmed this plan earlier this month during earnings discussions.

Trump wants Apple to build iPhones for the U.S. market in the U.S. and has continued to pressure the company and Cook.

“I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump posted on Truth Social on Friday.

Analysts said it would probably make more sense for Apple to eat the cost rather than move production stateside.

“In terms of profitability, it’s way better for Apple to take the hit of a 25% tariff on iPhones sold in the US market than to move iPhone assembly lines back to US,” Apple supply chain analyst Ming-Chi Kuo wrote on X.

UBS analyst David Vogt said that the potential 25% tariffs were a “jarring headline” but that they would only be a “modest headwind” to Apple’s earnings, dropping annual earnings by 51 cents per share, versus a prior expectation of 34 cents per share under the current tariff landscape.

Experts have long held that a U.S.-made iPhone is impossible at worst and highly expensive at best.

Analysts have said that iPhones made in the U.S. would be much more expensive, CNBC previously reported, with some estimates ranging between $1,500 and $3,500 to buy one at retail. Labor costs would certainly rise.

But it would also be logistically complicated.

Supply chains and factories take years to build out, including installing equipment and staffing up. Parts that Apple imported to the United States for assembly might be subject to tariffs as well.

Apple started manufacturing iPhones in India in 2017 but it was only in recent years that the region was capable of building Apple’s latest devices.

“We believe the concept of Apple producing iPhones in the US is a fairy tale that is not feasible,” wrote Wedbush analyst Dan Ives in a note on Friday.

Other analysts were wary about predicting how Trump’s threat ultimately plays out. Apple might be able to strike a deal with the administration — despite the eroding relationship — or challenge the tariffs in court.

For now, most of Apple’s most important products are exempt from tariffs after Trump gave phones and computers a tariff waiver — even from China — in April, but Apple doesn’t know how the Trump administration’s tariffs will ultimately play out beyond June.

“We’re skeptical” that the 25% tariff will materialize, wrote Wells Fargo analyst Aaron Rakers.

He wrote that Apple could try to preserve its roughly 41% gross margin on iPhones by raising prices in the U.S. by between $100 and $300 per phone.

It’s unclear how Trump intends to target Apple’s India-made iPhones. Rakers wrote that the administration could put specific tariffs on phone imports from India.

Apple’s operations in India continue to expand.

Foxconn, which assembles iPhones for Apple, is building a new $1.5 billion factory in India that could do some iPhone production, the Financial Times reported Thursday.

Apple declined to comment on Trump’s post.

This post appeared first on NBC NEWS

A major prisoner exchange between Russia and Ukraine is now under way, according to a Ukrainian source familiar with the matter.

The swap started on Friday, with Kyiv and Moscow swapping hundreds of prisoners.

As with previous exchanges, Ukrainian and Russian authorities were not expected to publicly state that it was taking place until after it had been completed. However, US President Donald Trump broke that convention on Friday, announcing the swap on social media as it was unfolding.

The agreement to release 1,000 prisoners on each side was the only significant outcome of the meeting between Kyiv and Moscow in Istanbul last week, which marked the first time the two sides have met directly since soon after Russia’s full-scale unprovoked invasion of Ukraine in February 2022.

The Istanbul meeting was initially proposed by Russian President Vladimir Putin in response to a ceasefire-or-sanctions ultimatum given to Moscow by Kyiv’s European allies – which many saw as a clear attempt by the Kremlin leader to distract and delay.

But while the return of hundreds of Ukrainian detainees will come as a huge relief to their families and loved ones, it remains somewhat underwhelming as the only tangible outcome of the highly touted meeting.

Prisoner swaps have been happening regularly, most recently earlier this month.

Ukraine’s Coordination Headquarters for the Treatment of Prisoners of War, a government department, said the exchange on May 7, which saw more than 200 Ukrainian service members return home, was the fifth swap this year and the 64th since the beginning of Russia’s full-scale invasion.

The department said at the time that at 4,757 Ukrainian citizens have been released since March 2022.

Ukraine and its allies demanded that Russia agree to an immediate and unconditional ceasefire in Istanbul, but that did not happen.

Kyiv also offered direct talks between President Volodymyr Zelensky and his Russian counterpart Vladimir Putin.

This post appeared first on cnn.com

Hours after the Al Haj bakery handed out its last piece of bread on Thursday, Jihad Al Shafie was still waiting, his hope of bringing some food to his family long gone.

Like many in the crowd standing outside the bakery in central Gaza, Al Shafie lined up early in the morning, anticipating freshly baked pita from the first deliveries of flour to enter the besieged territory since early March. He was forced to leave empty-handed, as many of the promised truckloads of food remained in southern Gaza, a dozen or so miles away.

For one hour on Thursday afternoon, the bakery “experienced unprecedented invasions,” according to the owner, as a mob descended on the facility in a scramble for food. Through the small window separating the workers inside from the crowd, desperate hands reached in, trying to get lucky enough to secure a bag of bread. The chaos vanished as quickly as the bread, leaving scores with nothing.

Ina’am Al Burdeini walked an hour from Al-Maghazi refugee camp to the bakery, only to find a crowd already there when she arrived. She, too, left empty-handed. “It’s exhausting, and we feel lost and abandoned,” said Al Burdeini, directing her anger both inside and outside of Gaza. “People are desperate. It’s time for action, not empty promises. Hamas get out!”

This week, Israel began allowing in the first trucks with food and humanitarian supplies since imposing a complete blockade of humanitarian goods on Gaza on March 2. More than 300 trucks of aid have entered Gaza since Monday, according to Israel’s Coordinator for Government Activities in the Territories (COGAT), which oversees deliveries.

It is a fraction of the aid that entered before the war, when 500 to 600 trucks per day came into Gaza, according to the United Nations. On Thursday, COGAT claimed “there is no food shortage in Gaza,” despite Israeli Prime Minister Benjamin Netanyahu’s office saying this week that Israel was allowing “a basic amount of food” into Gaza “in order to prevent a humanitarian crisis.”

‘Needle in a haystack’

“The aid going in now is a needle in a haystack,” said Philippe Lazzarini, head of the UN Relief and Works Agency for Palestine Refugees (UNRWA), on social media. “A meaningful & uninterrupted flow of aid is the only way to prevent the current disaster from spiraling further.”

And not all of the aid is reaching the Palestinian population, with some held up because of unsafe transit routes or looted on its way to distribution points. None of the trucks reached northern Gaza, where Israel has issued several evacuation warnings recently.

The World Food Programme (WFP) said 15 of its trucks were looted in southern Gaza while on their way to bakeries supported by the UN organization.

“Hunger, desperation, and anxiety over whether more food aid is coming, is contributing to rising insecurity,” said the WFP in a statement Friday. “We need support from the Israeli authorities to get far greater volumes of food assistance into Gaza faster, more consistently, and transported along safer routes, as was done during the ceasefire.”

The Palestinian NGOs Network condemned the looting of the humanitarian aid trucks. “The trucks, loaded with flour and intended to supply bakeries in Gaza City and the northern governorates, were looted — depriving children and families already enduring severe hunger of their basic food needs,” said the umbrella organization.

A joint US-Israeli aid program, called the Gaza Humanitarian Foundation, is supposed to start operating four distribution sites before the end of the month. But the UN and other humanitarian organizations have refused to work with the new group.

The new plan has come under criticism from top humanitarian officials, who warn that it is insufficient, could endanger civilians and even encourage their forced displacement.

The UN’s aid chief, Tom Fletcher, said last week that time should not be wasted on an alternative Gaza aid plan, writing on X: “To those proposing an alternative modality for aid distribution, let’s not waste time: We already have a plan.”

On Friday, the Bakery Owners Association in Gaza announced that bakeries would refuse to operate “in light of the difficult circumstances facing the Gaza Strip,” calling on the WFP to distribute flour to families first.

The chairman of the association, Abdel Nasser Al-Ajrami, appealed to international organizations to “urgently intervene” with Israel to allow the entry of “flour, sugar, yeast, salt, and diesel fuel” so that bread is available for everyone.

This post appeared first on cnn.com

“It is with deep sorrow that we announce the passing of Sebastião Salgado, our founder, mentor, and eternal source of inspiration,” Instituto Terra said in a post on Instagram.

“Sebastião was much more than one of the greatest photographers of our time,” the post continued. “Alongside his life partner, Lélia Deluiz Wanick Salgado, he sowed hope where there was devastation and brought to life the belief that environmental restoration is also a profound act of love for humanity.”

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At least twelve people were injured in a hot air balloon crash near an archaeological site in Mexico on Friday, local authorities say.

The balloon undertook a “forced landing” in San Martin de las Pirámides after hitting an air pocket, according to a statement from the Civil Protection Coordinator for the State of Mexico.

The twelve crew members are being treated for injuries at a local clinic, the statement said.

This is a developing story and will be updated.

This post appeared first on cnn.com

The apparent sound made when the Titan submersible imploded in June 2023 has been revealed in new footage released Thursday by the Marine Board of Investigation, the US Coast Guard’s highest level of inquiry.

Cameras on the sub’s mother ship captured the moment when Wendy Rush – whose husband Stockton founded OceanGate, the company which built the ill-fated vessel, and was one of five people who died in its implosion – heard a faint cracking sound similar to a car door slamming.

“What was that bang?” she says, turning to the people next to her.

At that point, the sub had reached a depth of about 3,300 meters and was about 90 minutes into its descent to the ocean floor to give passengers on board an up-close view of the Titanic.

That “bang” is thought to be the moment the sub imploded. However, moments later, the crew on the support ship received a message from the sub saying it had dropped two weights – which may have created the false impression it was still operating normally.

Every system which transmits data through the water has “some inherent buffering or delay related to how they do the signal timing or processing,” he explained.

“If the ‘weights dropped’ message was sent a few seconds before the implosion … the computer may not show the message immediately when it is received. The timing is tight, but possible. It really depends on the system they were using.”

Six seconds after that message, the mother ship lost contact with the sub, according to the timeline established by authorities investigating the doomed expedition.

When the sub failed to resurface, a dramatic international search and rescue mission unfolded in the remote waters several hundred miles southeast of Newfoundland.

Authorities found the Titan’s wreckage on the floor of the North Atlantic Ocean days later, several hundred yards from the Titanic’s remains.

Rush, businessman Shahzada Dawood and his 19-year-old son, Suleman; businessman Hamish Harding; and French diver Paul-Henri Nargeolet were all killed.

Since the implosion, the sub’s fate has been held up by some as an example of the dangers of hubris and greed.

Testimony given during the hearings into the disaster painted a damning portrait of OceanGate and Rush, who charged passengers about $250,000 per dive despite several concerns being raised about the sub’s durability.

Two documentaries scheduled for release in the coming weeks – one produced by the BBC and the other by Netflix – will further investigate the causes behind the disaster.

This post appeared first on cnn.com