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Elon Musk is set to deliver his debut speech at the Conservative Political Action Conference (CPAC) on Thursday afternoon. 

CPAC organizers made a surprise announcement that the Department of Government Efficiency (DOGE) chief and close President Donald Trump confidant would give a surprise address to attendees on Thursday afternoon. 

Other CPAC speakers this year include President Trump, Vice President JD Vance, immigration czar Tom Homan and many of the nation’s leading conservative politicians and influencers. At the conference’s opening ceremony, Vance addressed a packed house and touted many of the Trump administration’s accomplishments in its first full month. 

Since Trump returned to the White House, Musk has been the center of much of Democratic and media vitriol because of his role with DOGE and work gutting wasteful government programs, many of which have been rooted in diversity, equity and inclusion (DEI) and other favorite liberal causes.

DOGE claims that it has already cut $44 billion in previously wasted taxpayer dollars. 

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The Trump administration is increasing pressure on Ukraine to broker a peace deal ending the conflict with Russia as President Donald Trump grows increasingly irritated by Ukrainian President Volodymyr Zelenskyy, according to the White House. 

National Security Advisor Mike Waltz on Thursday admitted that Trump’s patience with Zelenskyy is running thin, and said that discussions Wednesday between U.S. Special Envoy for Ukraine and Russia Keith Kellogg and Ukrainian officials focused on assisting Kyiv ‘understand’ the war must come to a halt. 

‘President Trump is obviously very frustrated right now with President Zelenskyy, the fact that he hasn’t come to the table, that he hasn’t been willing to take this opportunity that we have offered,’ Waltz told reporters Thursday in a White House press briefing. ‘I think he eventually will get to that point, and I hope so very quickly.’ 

‘It certainly isn’t in Russia’s interest or in the American people’s interest for this war to grind on forever and ever and ever,’ Waltz said. ‘So a key part of his conversation was helping President Zelenskyy understand this war needs to come to an end.’ 

Vice President JD Vance on Thursday also defended the Trump administration’s decision to meet with Russian officials in Saudi Arabia, despite frustration from Ukraine that it was absent from those meetings. Vance stressed that communicating with Russia is key to advancing a deal, and said he believes Europe is on the ‘cusp of peace’ for the first time in three years. 

‘How are you going to end the war unless you’re talking to Russia?’ Vance said at the Conservative Political Action Conference near the nation’s capital. ‘You’ve got to talk to everybody involved in the fighting. If you actually want to bring the conflict to a close.’ 

Meanwhile, U.S. officials also have met with Ukrainian officials about a peace deal, and Kellogg said Wednesday in a post on X that the U.S. remains committed to ending the war and finding ways to establish ‘sustainable peace.’ 

The increased pressure on Ukraine to agree to a deal comes on the heels of several tense days between Trump and Zelenskyy, as each hurled insults back and forth toward one another after the meetings between U.S. and Russian officials. 

While Zelenskyy accused Trump of perpetuating Russian ‘disinformation’ on Wednesday, Trump took a jab back and labeled Zelenskyy a ‘dictator’ who has failed his country and suggested Ukraine initiated the war. Russia invaded Ukraine in February 2022. 

Secretary of State Marco Rubio, Special Envoy to the Middle East Steve Witkoff and Waltz met in Riyadh, Saudi Arabia, on Tuesday with Russian Foreign Minister Sergey Lavrov and President Vladimir Putin’s foreign affairs advisor, Yuri Ushakov, to hash out ways to end the conflict. 

Zelenskyy said Ukraine didn’t receive an invitation to the meeting and told reporters Tuesday in Turkey that ‘nobody decides anything behind our back,’ after stressing in recent days that Kyiv will not agree to a peace negotiation without Ukraine’s input.

Meanwhile, the U.S. has signaled interest in giving way to some of Russia’s demands for a peace agreement in recent days, and Trump told the BBC on Wednesday that he believes Russia is the one that has ‘the cards a little bit, because they’ve taken a lot of territory.’ 

As of January, Russia has taken control of approximately 18% of Ukraine’s territory, according to the Washington, D.C.-based think tank the Brookings Institution. Trump’s Secretary of Defense Pete Hegseth said on Feb. 12 that it wasn’t realistic for Ukraine to regain its pre-war borders with Russia, prompting criticism that Ukraine is being forced to give into concessions. 

‘Putin is going to pocket this and ask for more,’ Brett Bruen, director of global engagement under former President Barack Obama, told Fox News Digital on Feb. 13. 

Additionally, the U.S. has suggested it backs holding an election in Ukraine — a key condition for Russia to agree to a peace deal. 

Nearly a year after Zelenskyy’s five-year term was slated to end, he has remained in his position leading Kyiv because the Ukrainian constitution bars holding elections under martial law. Ukraine has been under martial law since February 2022.

However, Russia wasn’t the only one exerting pressure to force Ukraine to hold an election, Trump said Tuesday at his Mar-a-Lago estate in Palm Beach, Florida.  

 

As a result, Zelenskyy’s hands may be tied and he may have no other option but to give in to the concessions, according to Trump’s former deputy National Security Advisor K.T. McFarland. 

‘If President Zelenskyy is going to walk away from this and somehow say, ‘I’m against any deal with Russia, I’m against any deal with America.’ Really?’ McFarland said Thursday in an interview with FOX Business Network’s ‘Mornings with Maria.’ 

‘Well, how does he plan to keep this country safe for the next 20, 30, 40 years?’ McFarland said. 

Russia invaded Ukraine in February 2022, and Trump vowed on the campaign trail in 2024 that he would work to end the conflict if elected again.

Fox News’ Morgan Phillips contributed to this report. 

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Donning his ‘Dark Gothic MAGA’ hat, a black coat and sunglasses, and wielding a chainsaw, Department of Government Efficiency (DOGE) chief Elon Musk made a surprise appearance at the Conservative Political Action Conference (CPAC) Thursday evening.

Musk spoke on a wide range of topics, including the latest DOGE updates, the Democratic and media hatred towards him and the importance of reducing waste and abuse in the federal government.

He also mentioned that he is in talks with President Donald Trump about issuing tax refunds to U.S. citizens from the money saved by DOGE.

At the start of his speech, the DOGE chief was joined by Argentinian President Javier Milei, who is also known for dramatically slashing the size of government in his country. The two men wielded a chainsaw hearkening back to a viral video of Milei and symbolizing their shared goals of cutting down government waste.

‘I wasn’t really that interested in being political. It’s just like there was at a certain point no choice,’ Musk explained. ‘The actions that we’re taking, with the support of the president and the support of the agencies, is what will save Medicare, what will save Social Security.’ 

‘That’s the reason I’m doing this,’ he said. ‘Because I was looking at the big picture here and it’s like, man, it’s getting out of control.’ 

‘A country is no different from a person,’ he went on. ‘[A] Country overspends, a country goes bankrupt in the same way as a person who overspends usually goes bankrupt. So, it’s not like optional to solve these things, it’s essential.’

Musk confirmed he is in talks with the president about the possibility of issuing ‘DOGE dividends’ to U.S. taxpayers from the savings from cutting government waste.

‘I talked to the president, and he’s supportive of that and so it sounds like, you know, that’s something we’re going to do,’ he said. ‘So, as we’re finding savings, that’s going to translate directly to reductions in tax.’

He also criticized the Biden administration and entrenched government bureaucrats for what he called a ‘very obvious’ scheme to use taxpayer dollars for their own ideological agenda, which he said included importing voters through mass immigration.

‘You don’t actually have to assume some grand conspiracy, you just need to look at basic incentives,’ he said. ‘If the probability [is] that an illegal is going to vote Democrat at some point … then the incentive is to maximize the number of illegals in the country. That is why the Biden administration was pushing to get in as many illegals as possible and spent every dollar possible to get as many [as they could] because every one of them is a customer.’

Since Trump returned to the White House, Musk has been the center of much of Democratic and media vitriol because of his role with DOGE and work gutting wasteful government programs, many of which have been rooted in diversity, equity and inclusion (DEI) and other favorite liberal causes.

DOGE claims that it has already cut $44 billion in previously wasted taxpayer dollars. 

‘People ask me, what’s the most surprising thing that you’ve encountered when you got to DC?’ he said. ‘Well, the most surprising thing is the scale of the expenditures and actually, how easy it is to – when you add caring and competence where it was absent before – you can actually save billions of dollars sometimes in the span of an hour. Like it’s wild.’

‘It just shows that they really lack empathy for the average taxpayer who’s working hard, paying taxes and then and then they say: ‘Oh: ‘$1 million doesn’t matter.’ I’m like: ‘I think it matters a lot to people.’’

He made light of the widespread criticism against him from the media and the left.

‘They’re always saying like ‘threat to our democracy.’ But if you just replace democracy with bureaucracy, yeah, it makes a lot of sense. It makes perfect sense, big threat to the bureaucracy,’ he said laughing. 

Musk also explained some of his personal motivations for caring about fixing government overspending. 

‘I grew up in South Africa, but my morality was informed by America. I read comic books, you know, played Dungeons and Dragons and I watched American T.V. shows, and it seemed like America cared about being the good guys, you know? About doing the right thing,’ he said. ‘So, I was like, yeah, you want to be on the side of good, you want to care about what’s right.’ 

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Speaker Mike Johnson, R-La., signaled he was not a fan of a proposal to send Americans stimulus checks with the money saved by the Department of Government Efficiency (DOGE), and that he believed the funding was better directed toward the national debt.

‘Well, look, I mean, politically, that would be great for us, you know, because that gives everybody a check,’ Johnson said during a Q&A session at the Conservative Political Action Conference (CPAC) on Thursday.

‘But if you think about our core principles, right, fiscal responsibility is what we do as conservatives. That’s our brand. And we have a $36 trillion federal debt.’

Johnson added there was a ‘giant deficit’ — which is over $838 billion for fiscal year 2025 so far, according to the Bipartisan Policy Center — the U.S. was grappling with as well.

‘I think we need to pay down the credit card. That’s what I think we need to do,’ Johnson said.

It comes after President Donald Trump said he was considering giving 20% of DOGE-led savings back to U.S. taxpayers during a speech on Wednesday at the FII Priority Summit in Miami.

Billionaire Elon Musk, who is leading DOGE, said Tuesday on X that he would ‘check with the president’ about the proposal after it was first floated by Azoria investment firm CEO James Fishback.

DOGE’s stated goal under Musk is to cut federal spending by $2 trillion.

During his sit-down remarks with Newsmax on Thursday, Johnson also warned that Americans could see the ‘largest tax increase in U.S. history’ if Trump’s 2017 Tax Cuts and Jobs Act (TCJA) was not extended before measures expired at the end of this year.

Congressional Republicans are currently trying to use their majorities to extend Trump’s tax cuts and pass his priorities on defense and the border via a massive bill using the budget reconciliation process.

Under reconciliation, both the Senate and House operate under simple majorities, allowing the party in power to pass a massive budget bill without help from the opposition. Normally, the Senate’s threshold for passage is two-thirds.

‘We’re going to take a blowtorch to the regulatory state, get the bureaucracy back in check — lots of details, lots of subcategories under all that. But it’s going to be a big, beautiful bill. And it has to be by necessity, because that gives us the highest probability of success. Remember that I have a small margin in the House,’ Johnson said. ‘I have one vote for much of this.’

Extending Trump’s tax cuts alone is expected to cost upwards of $4.5 trillion.

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President Donald Trump on Thursday appointed Alice Marie Johnson, a woman he pardoned during his first term, as ‘pardon czar.’

The announcement came during a Black History Month event at the White House.

The ‘pardon czar’ will be responsible for making recommendations about who should be granted clemency.

The New York Times first reported Trump was thinking about naming Johnson ‘pardon czar.’

Johnson was convicted of nonviolent drug trafficking in Memphis, Tennessee, and after serving 21 years, her life sentence was commuted by Trump.

Reality television star Kim Kardashian West met with Trump at the White House a week prior to her release to discuss the great-grandmother’s case.

She was arrested in 1993 and convicted of drug conspiracy and money laundering in 1996.

A series of unfortunate events, including the death of her son, financial troubles and a divorce, led her to involvement with cocaine dealers.

‘Back in the 1990s, I was a single mother about to lose my house,’ Johnson wrote in a Fox News Digital opinion article. ‘In a desperate moment, I made a life-altering bad decision to become a low-level player in a drug operation. When law enforcement authorities broke up the drug operation, I was prosecuted and sentenced to life in prison.’

While Johnson claims she never ‘touched, saw or sold a single drug,’ she admitted to assisting in communications. 

While in prison, she worked in the prison hospice, volunteered in the prison church, became an ordained minister, and started writing and directing plays.

After being pardoned, she remained under federal supervision for five years.

She became a champion for overburdened case officers and has fought against unnecessary supervision post-incarceration.

Her work on criminal justice reform led her to launch ‘Taking Action For Good,’ which advocated for clemency and pardons for over 100 people.

She also published a book and partnered with the philanthropic organization, Stand Together.

Fox News Digital’s Kaitlyn Schallhorn, Emma Colton and Alice Marie Johnson contributed to this report.

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JetBlue Airways is talking with “multiple airlines” about a potential new partnership after federal judges struck down two previous deals, the carrier’s president said Wednesday.

“If we find a deal that’s accretive, we’ll absolutely do it,” JetBlue’s president, Marty St. George, said at a Barclays industry conference.

A federal judge in 2023 ruled the New York airline’s partnership in the Northeast with American Airlines was anticompetitive, while a different judge last year blocked JetBlue’s plan to acquire budget carrier Spirit Airlines, which filed for Chapter 11 bankruptcy protection last year.

JetBlue representatives didn’t immediately respond to a request for comment.

JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.

St. George said a potential tie-up would benefit the company’s loyalty program, noting that customers say the frequent flyer points on JetBlue are not as strong as those of the big three U.S. carriers.

“Given that we really don’t have full global earn and burn, I think to be able to add that to our network would be very, very helpful,” he said.

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Walmart would likely see some impact from tariffs President Donald Trump is seeking to impose, especially if ones threatened against Canada and Mexico are implemented, the retailer said Thursday.

The big-box giant reported quarterly earnings and also signaled slowing profit growth. Its shares fell about 6% amid a broader market decline Thursday morning.

In an interview with CNBC, Chief Financial Officer John David Rainey said that while some two-thirds of Walmart’s products are sourced from the U.S., the company was “not going to be completely immune” from trade duties.

“We’ve lived in a tariff environment for the last seven or eight years, and we’ll do what we know how to do,” he said. “We’ll work with suppliers. We’ll lean into our private brand. We’ll shift supply where necessary to try to take advantage of lower costs that we can then pass on to consumers.”

Since Walmart is not sure if the tariffs will take effect next month, the company did not factor them into its guidance, Rainey said.

While a given company must pay a tariff up front if it imports a good from an affected country, the firm is ultimately forced to decide how to mitigate on those costs — and they often get passed down to shoppers.

Rainey previously told CNBC that there would likely be cases where prices for consumers would increase as a result of tariffs, adding that they are ‘inflationary’ for customers.

U.S. companies are seeing mounting queries about how they would be impacted by the levies Trump has called for. So far, only a supplemental 10% duty on Chinese goods has gone into effect, though the president has threatened a vast new array of tariffs depending on a given country’s current trade posture with the U.S. Steel and aluminum tariffs are set to kick in next month, while Trump this week called for new tariffs on automobiles, drugs, semiconductors and lumber imported to the U.S.

CNBC has found the word ‘tariffs’ has come up on more than 190 calls held by S&P 500 companies in 2025, putting it on track to see the highest share in half a decade. However, many, like Walmart, stated they were not yet figuring the effect of them into their official forward guidance and outlooks.

“We’ve game-planned out several scenarios and steps we could take depending on what actually goes into effect,” R. Scott Herren, the chief financial officer at the tech group Cisco, said in recent comments.

This week, the Federal Reserve indicated that discussion of tariffs had come up during its policy meetings, and had gone into its calculation for keeping interest rates elevated.

‘Business contacts in a number of Districts had indicated that firms would attempt to pass on to consumers higher input costs arising from potential tariffs,’ the central bank reported — something that could threaten to accelerate inflation.

And in its “upside risks to the inflation outlook,’ it cited ‘the possible effects of potential changes in trade and immigration policy.“

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Microsoft on Wednesday announced Majorana 1, its first quantum computing chip. 

The achievement comes after the company has spent nearly two decades of research in the field. 

Technologists believe quantum computers could one day efficiently solve problems that would be taxing if not impossible for classical computers. Today’s computers use bits that can be either on or off while quantum computers employ quantum bits, or qubits, that can operate in both states simultaneously.

Google and IBM have also developed quantum processors, as have smaller companies IonQ and Rigetti Computing. Microsoft’s quantum chip employs eight topological qubits using indium arsenide, which is a semiconductor, and aluminum, which is a superconductor. A new paper in the journal Nature describes the chip in detail.

Microsoft won’t be allowing clients to use its Majorana 1 chip through the company’s Azure public cloud, as it plans to do with its custom artificial intelligence chip, Maia 100. Instead, Majorana 1 is a step toward a goal of a million qubits on a chip, following extensive physics research.

Rather than rely on Taiwan Semiconductor or another company for fabrication, Microsoft is manufacturing the components of Majorana 1 itself in the U.S. That’s possible because the work is unfolding at a small scale.

“We want to get to a few hundred qubits before we start talking about commercial reliability,” Jason Zander, a Microsoft executive vice president, told CNBC.

In the meantime, the company will engage with national laboratories and universities on research using Majorana 1. 

Despite the focus on research, investors are fascinated by quantum.

IonQ shares went up 237% in 2024, and Rigetti gained nearly 1,500%. The two generated a combined $14.8 million in third-quarter revenue. Further gains came in January, after Microsoft issued a blog post declaring that 2025 is “the year to become quantum-ready.”

Microsoft’s Azure Quantum cloud service, which lets developers experiment with programs and algorithms, offers access to chips from IonQ and Rigetti. It’s possible that a Microsoft quantum chip might become available through Azure before 2030, Zander said.

“There’s a lot of speculation that we’re decades off from this,” he said. “We believe it’s more like years.”

Rather than exist as a stand-alone category, quantum computing might end up boosting other parts of Microsoft. For example, there’s Microsoft’s AI business, which has an annualized revenue run rate that exceeds $13 billion. Quantum computers could be used to build data used to train AI models, Zander said. 

“Now you can ask it to invent some new molecule, invent some new drug, something that really would have been impossible to do before,” Zander said.

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Airbus could prioritize deliveries to its non-U.S. customers if tariffs disrupt the European plane maker’s imports stateside, CEO Guillaume Faury said Thursday.

“We have a large demand from the rest of the world, so [if] we face very significant difficulties to deliver to the U.S., we can also adapt by bringing forward deliveries to other customers which are very eager to get planes,” Faury told CNBC’s Charlotte Reed, in an interview discussing the company’s full-year results.

“Those tariffs are looming, and we don’t know what they will be, [and], if and when we would have tariffs come in, what they would impact. So we stand ready to adapt accordingly,” Faury said, referring to U.S. President Donald Trump’s wide-ranging tariff threats which have already been ramped up against China.

Faury nevertheless stressed that Airbus had made moves in recent years to not only buy more from the U.S. and sell a significant number of aircraft and helicopters in the U.S., but also to base part of its production locally.

That includes a large output site in Mobile, Alabama, with two final assembly lines for the company’s A220 and A320 family jets, with another U.S. line under construction to build A320 and A321s for the domestic market.

A host of large U.S. carriers are Airbus customers, including American Airlines, Delta, United and JetBlue.

“So we have a lot of potential flexibilities,” Faury said regarding the potential imposition of duties, whose details remain uncertain.

“Bottom lime, we believe in this industry — that is very much a North Atlantic ecosystem with a lot of interdependencies — tariffs would hurt both sides. So I hope, I believe, we will not be significantly impacted by tariffs,” Faury said.

The European plane maker’s target for around 820 aircraft deliveries in 2025 was issued “in spite of those uncertainties, to clarify what we think we can deliver this year absent tariffs,” Faury said.

Airbus, meanwhile, remains stymied by a host of supply chain issues which are limiting its ability to ramp up production and work through its order backlog of more than 8,000 jets, Faury told CNBC.

His comments come after the company earlier on Thursday reported a 6% rise in annual revenue, but an 8% fall in adjusted operating profit to 5.35 billion euros ($5.59 billion) across 2024.

Profit at the company’s defense and space unit swung to a loss of 656 million euros for the full year.

Faury told CNBC that space was the “area where we are suffering,” amid competition from players such as Elon Musk’s SpaceX and past investment in technologies that had proven difficult.

“We underestimated the risk compared to the reality,” Faury said, adding that the company was restructuring the unit and working to solve existing issues.

Despite challenges, Airbus’s annual results served to highlight its strength over its crisis-hit U.S. rival Boeing, which reported an annual loss of $11.83 billion for 2024.

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In an attempt to court younger audiences, Disney’s ESPN is planning to add some user-generated content to its yet-to-be-named flagship streaming service, which will debut later this year.

While the details are still unclear, ESPN will allow subscribers to post their own content at some point in the application’s evolution, according to people familiar with the matter. The technology likely won’t be available at launch, which the company hopes will occur before the National Football League season begins in September. An ESPN spokesperson declined to comment.

Disney executives have also considered adding user-generated content to Disney+ and discuss YouTube’s influence on streaming on a near daily basis, CNBC reported last year.

Alphabet’s YouTube, which leans heavily on creator-led content, is the most popular streaming service with an 11.1% share of total TV usage in the U.S., according to Nielsen.

ESPN executives are targeting a price of either $25 per month or $30 per month for the ESPN streaming service, which will include all of ESPN’s linear programming plus other digital add-ons, the people said.

The company plans to announce a name for the service, a price and a launch date in the coming months, the people said.

Media and professional sports league executives are focusing on how to capture the attention of younger viewers that are opting to watch YouTube or TikTok over live games. ESPN spends tens of billions of dollars each year on the media rights for live sports.

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