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Even if Trump secures Ukraine-Russia peace deal, can Putin be trusted?

Ukraine on Tuesday agreed to a preliminary proposal put forward by the Trump administration that called for a 30-day ceasefire contingent on Russia’s acceptance of the terms in a major step toward ending the brutal war.

But even if the Trump administration is able to get Moscow to the negotiating table and end the three-year war under a new treaty, which several security experts say Russian President Vladimir Putin is under no real pressure to do, can the Kremlin chief be trusted?

Russia under Putin has repeatedly violated formal international agreements intended to protect Ukraine’s sovereignty, chiefly from its former Soviet overlord.

These agreements include the 1994 Budapest Memorandum, in which Ukraine agreed to relinquish its nuclear arsenal in exchange for assurances over its territorial integrity after its 1991 withdrawal from the Soviet Union, as well as the 1997 Treaty on Friendship, Cooperation, and Partnership by which Moscow and Kyiv agreed to respect one another’s existing borders. Both deals were first violated in 2014 when Putin seized Crimea and backed Russian separatist forces in the Donbas region. 

The 2014-2015 Minsk Agreements, though criticized as ‘weak,’ attempted to end Russia’s aggression in eastern Ukraine, an agreement that was never fully achieved and was again violated by Putin’s 2022 invasion. 

Some world leaders and security officials, including Ukrainian President Volodymyr Zelenskyy, have cautioned that a peace deal between Russia and Ukraine is unlikely to be achieved in the near term and against Putin’s reliability in adhering to any international agreement without serious security commitments from the West.

‘The problem here is that the Russians only understand win-lose outcomes, which means that to prevent them from ever attacking Ukraine again, they must see themselves to be the losers in the war just as they did at the end of the Cold War,’ Michael Ryan, former deputy assistant secretary of Defense for European and NATO Policy and former acting assistant secretary of Defense for International Security Affairs, told Fox News Digital.

Security officials interviewed by Fox News Digital argued that securing Ukraine’s future is not about ‘trusting’ Putin. It’s about actually putting Russia in a position where any future violations would hinder Moscow more than it could be enticed by unchecked opportunity.

‘Even if a deal is concluded, Russia will continue clandestine operations across the world to expand its footprint in terms of geopolitical influence,’ Rebekah Koffler, a former DIA intelligence officer, told Fox News Digital, noting the former KGB operative can be counted on to ‘continue election interference campaigns, cyber warfare, espionage and destabilization operations across the globe.

‘There’s no such thing as peace in Russia’s strategic military thinking. You are in a constant confrontation.’

Ryan argued a Trump-brokered peace deal needs to reflect on the lessons learned from previously failed agreements, like the post-WWI Treaty of Versailles, which arguably led to the rise of Adolf Hitler and Nazi Germany.

‘How to solve this conundrum? Just as we did after World War II … reconstruction of Ukraine must include economic reconciliation with Russia,’ Ryan said. ‘The Russians saw how we rebuilt the losing side in World War II Germany and Japan. They expected us to do the same for Russia after the Cold War, but we did not.  

‘We can’t make that same mistake if we want lasting peace for Ukraine and if we want to split Russia from China,’ he added, noting other adversaries are watching how the West handles this geopolitical hurdle.

There are numerous obstacles when it comes to the Trump administration’s attempt to negotiate with Putin, including arguments over occupied territory, international recognition of occupied lands, international aid and support for Ukraine, international confiscation of frozen Russian assets, Zelenskyy’s standing at home, the return of prisoners of war and the return of abducted Ukrainian children, according to Peter Rough, senior fellow and director of the Center on Europe and Eurasia at the Hudson Institute.

‘Putin has officially annexed four Ukrainian oblasts as well as Crimea. But Moscow has yet to conquer any of the four entirely,’ Rough told Fox News Digital while traveling to Ukraine. ‘I can’t imagine that Ukraine will withdraw from the areas they control, having fought tooth and nail to defend those regions. 

‘I also doubt that the West will offer de jure recognition to the areas Moscow controls,’ he added. ‘So, Putin would have to swallow all of that in a peace deal.’

Each issue alone is a massive undertaking to negotiate, and while Ukraine this week may be outlining concessions it could make to secure a deal coordinated by the U.S., Putin is unlikely to do the same, according to Koffler, who briefed NATO years ahead of the 2022 invasion on Putin’s plans.

‘Putin is unlikely to make any concessions as he believes he is in a strong position,’ Koffler told Fox News Digital. ‘The disparity in combat potential dramatically favors Russia over Ukraine, which is out-manned and outgunned because Putin transitioned the Russian military and economy on a wartime footing seven years prior to the invasion of Ukraine.’

‘Putin believes he has prepared Russia to fight till the last Ukrainian and till the last missile in NATO’s arsenal,’ she added, echoing a January warning issued by NATO Secretary-General Mark Rutte, who said Russia’s defense industry output over a three-month period equates to what all of NATO produces an entire year.

‘Putin is highly unlikely to agree to a ceasefire because he doesn’t want to give a strategic pause to Ukraine, the U.S., and NATO to re-arm,’ Koffler said. ‘He doesn’t trust Washington. He doesn’t trust President Trump any more than we trust Putin. 

‘He trusts Trump even less than Biden because he could read Biden and predict his behavior. He cannot read Trump because Trump is unpredictable.’

The experts argued there are too many variables that could play out during negotiations that will determine whether Putin can be adequately held accountable or ‘trusted’ regarding future agreements.

Ultimately, Koffler said, Putin will not leave eastern Ukraine.

‘Ukraine has always been a red line for Putin, in terms of who has geopolitical control of it, Russia or the West. And he will continue to enforce this red line,’ she said. ‘The only way to ensure that Putin doesn’t invade another country is to make NATO strong again, beef up force posture, increase defense spending, secure its command-and-control networks and develop actual deterrence and counter-strategy that addresses every prong of Putin’s strategy.’ 

This post appeared first on FOX NEWS

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NASA spent $13M on DEI under Biden while critical mission, quality controls flailed, watchdog group says

While issues at NASA grew under former President Joe Biden, the space agency prioritized embedding diversity, equity and inclusion (DEI) initiatives into its workforce, according to a new report from watchdog group OpenTheBooks.

Amid preparations for its Starliner capsule mission — which ultimately went awry, leaving two astronauts stranded in space — NASA spent more than $13 million on related efforts between 2021 and 2024. During the ongoing Starliner spaceship debacle, an Inspector General report highlighted even further shortcomings by the agency, particularly related to quality control around NASA’s efforts to return astronauts to the moon.

Simultaneously, while NASA was facing these mission-critical deficiencies, it was also reportedly taking substantial steps to embed DEI into agency practices through a variety of avenues, including grants, contracts, employee guidance, agency-wide strategic equity commitments, book talks and more.

During President Donald Trump’s first term, he sought to root out DEI programs in the federal government, similar to his efforts today. Before ending his first term, in September 2020, Trump signed an executive order to combat race and sex stereotyping within federal government programs. His order was rescinded just a few months later by the Biden administration. During former President Joe Biden’s first few days in office, he signed several executive orders aimed at embedding the equity considerations Trump sought to get rid of in federal government programs.

Following Biden’s directives, NASA went full force at embedding these principles into its day-to-day operations, OpenTheBooks’ report illustrates. At the same time, NASA was preparing its Starliner capsule to transport two astronauts to the International Space Station for what was intended to be a week-long mission. Instead, due to multiple malfunctions with the rocket that carried them there, the astronauts were stranded in space for months. Elon Musk’s SpaceX was ultimately tapped to help bring the astronauts home, and they are expected to return sometime this month.

In 2021, the same year NASA’s Starliner capsule was undergoing test flights, NASA employees were engaged in a book talk about ‘open[ing] the lines of communication on anti-racism,’ alongside author Uju Asika. Asika, who was also invited back the following year, spoke to parents at NASA about her book, ‘Bringing Up Race: How to Raise a Kind Child in a Prejudiced World,’ in which she laments her ‘Eurocentric’ education in the U.K., ‘colonialism,’ and the results of the 2016 election. An earlier book talk at the space agency in 2020 included talks by infamous anti-racist scholar Ibram X. Kendi. 

Around the same time as Asika’s talks to NASA employees, the agency also unveiled its 2022-2026 ‘Strategic Plan for Diversity, Equity Inclusion & Accessibility.’ Major goals of the plan included race and sex-based hiring and promotion initiatives. The same year, NASA unveiled its 2022 Equity Action Plan, which included new DEI-related contractor policies. Those policies, among other things, included ‘a requirement for contractors to provide a DEIA plan upon award to demonstrate commitment to diversifying their workforce.’ The Equity Action Plan also retooled NASA’s grant and procurement process, aimed at encouraging grant proposers to consider DEI principles, even when seemingly unrelated.

In 2022, employees were also provided guidance ‘for Supporting Gender Transition/Affirmation in the Workplace.’ The guidance encouraged employees to ‘be willing and available to collaborate with the transitioning employee on the development, implementation, and evolution of a Workplace Gender.’ It added that any ‘transitioning employees’ should be allowed to use the restroom, locker room, or other facility of their choice, and not compelled to use one that does not align with their choice.

In total, NASA spent at least $13 million on DEI-related programs under Biden, according to OpenTheBooks. One contract uncovered by the organization provided more than $2.3 million for a consulting group to help ‘incorporate and deeply engrain diversity, inclusion, equity, and accessibility in the culture and business’ at NASA. 

‘NASA’s mission is too risky to get distracted by identity politics,’ John Hart, CEO at OpenTheBooks, said. 

‘Newtonian physics and atmospheric reentry do not care about antiracism talks and gender ‘affirmation’ policies,’ Hart added. ‘NASA has an opportunity to take one small step toward fiscal responsibility and one giant leap toward common sense.’

Beyond the Starliner mission debacle that left two astronauts stranded in space, a report from the Inspector General last year detailed widespread quality control issues in NASA and contractor Boeing’s efforts to return astronauts to the moon. The report pointed out that workers on NASA’s Space Launch System program lacked sufficient experience, among other issues.

This week, the Trump administration began a ‘phased reduction in force’ at NASA, which included shuttering the agency’s Diversity, Equity, Inclusion and Accessibility branch in the Office of Diversity and Equal Opportunity.

Acting NASA administrator Janet Petro said in a memo to employees at NASA this week that while the force reduction, which includes the closure of multiple offices, will mean ‘difficult adjustments,’ the agency is viewing it as an opportunity to ‘reshape’ its workforce and ensure it is ‘doing what is statutorily required … while also providing American citizens with an efficient and effective agency.’ 

‘NASA is committed to engaging the best talent to drive innovation and achieve our mission for the benefit of all,’ Cheryl Warner, a NASA spokesperson, told Fox News Digital when reached for comment. ‘As new guidance comes in, we’re working to adhere to new requirements in a timely manner. Our agency has complied with the requirements of executive orders and additional guidance from the U.S. Office of Personnel Management.’

This post appeared first on FOX NEWS

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Rules for repaying Social Security benefits are about to get stricter. Here’s what to know.

If you receive more Social Security benefits than you are owed, you may face a 100% default withholding rate from your monthly checks once a new policy goes into effect.

The change announced last week by the Social Security Administration marks a reversal from a 10% default withholding rate that was put in place last year after some beneficiaries received letters demanding immediate repayments for sums that were sometimes tens of thousands of dollars.

The discrepancy — called overpayments — happens when Social Security beneficiaries receive more money than they are owed.

The erroneous payment amounts may occur when beneficiaries fail to report to the Social Security Administration changes in their circumstances that may affect their benefits, according to a 2024 Congressional Research Service report. Overpayments can also happen if the agency does not process the information promptly or due to errors in the way data was entered, how a policy was applied or in the administrative process, according to the report.

The Social Security Administration paid about $6.5 billion in retirement and disability benefit overpayments in fiscal year 2022, which represents 0.5% of total benefits paid, the Congressional Research Service said in its 2024 report. The agency also paid about $4.6 billion in overpayments for Supplemental Security Income, or SSI, benefits in that year, or about 8% of total benefits paid.

The Social Security Administration recovered about $4.9 billion in Social Security and SSI overpayments in fiscal year 2023. However, the agency had about $23 billion in uncollected overpayments at the end of the 2023 fiscal year, according to the Congressional Research Service.

By defaulting to a 100% withholding rate for overpayments, the Social Security Administration said it may recover about $7 billion in the next decade. 

“We have the significant responsibility to be good stewards of the trust funds for the American people,” Lee Dudek, acting commissioner of the Social Security Administration, said in a statement. “It is our duty to revise the overpayment repayment policy back to full withholding, as it was during the Obama administration and first Trump administration, to properly safeguard taxpayer funds.”

The new 100% withholding rate will apply to new overpayments of Social Security benefits, according to the agency. The withholding rate for SSI overpayments will remain at 10%.

Social Security beneficiaries who are overpaid benefits after March 27 will automatically be subject to the new 100% withholding rate.

Individuals affected will have the right to appeal both the overpayment decision and the amount, according to the agency. They may also ask for a waiver of the overpayment, if either they cannot afford to pay the money back or if they believe they are not at fault. While an initial appeal or waiver is pending, the agency will not require repayment.

Beneficiaries who cannot afford to fully repay the Social Security Administration may also request a lower recovery rate either by calling the agency or visiting their local office.

For beneficiaries who had an overpayment before March 27, the withholding rate will stay the same and no action is required, the agency said.

The new overpayment policy goes into effect about one year after former Social Security Commissioner Martin O’Malley implemented a 10% default withholding rate.

The change was prompted by financial struggles some beneficiaries faced in repaying large sums to the Social Security Administration.

At a March 2024 Senate committee hearing, O’Malley called the policy of intercepting 100% of a benefit check “clawback cruelty.”

At the same hearing, Sen. Raphael Warnock, D-Georgia, recalled how one constituent who was overpaid $58,000 could not afford to pay her rent after the Social Security Administration reduced her monthly checks.

Following the Social Security Administration’s announcement that it will return to 100% as the default withholding rate, the National Committee to Preserve Social Security and Medicare said it is concerned the agency may be more susceptible to overpayment errors as it cuts staff.

“This action, ostensibly taken to cut costs at SSA, needlessly punishes beneficiaries who receive overpayment notices — usually through no fault of their own,” the National Committee to Preserve Social Security and Medicare, an advocacy organization, said in a statement.

This post appeared first on NBC NEWS

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Tesla shares plunge 15%, steepest drop in five years

Tesla’s selloff on Wall Street intensified on Monday, with shares of the electric vehicle maker plunging 15%, their worst day on the market since September 2020.

On Friday, Tesla wrapped up a seventh straight week of losses, its longest losing streak since debuting on the Nasdaq in 2010. The stock has fallen every week since CEO Elon Musk went to Washington, D.C., to take on a major role in the second Trump White House.

Since peaking at $479.86 on Dec. 17, Tesla shares have lost over 50% of their value, wiping out over $800 billion in market cap. Monday marked the stock’s seventh worst day on record.

Tesla led a broader slump in U.S. equities, with the Nasdaq tumbling almost 4%, its steepest decline since 2022.

The downdraft in Tesla’s stock on Monday was tied to uncertainty surrounding President Donald Trump’s plans on tariffs. Canada and Mexico are key markets for automotive suppliers, and increased tariffs, with the potential for a trade war, will likely impact production and lead to higher prices.

Tesla is also dealing with brand erosion due to Musk’s incendiary political rhetoric and his extensive work with the Trump administration, where he’s leading up the so-called Department of Government Efficiency. Musk, the world’s wealthiest person, has become the public face of the administration’s effort to dramatically shrink the federal government’s workforce, spending and capacity.

Meanwhile, Musk has used his social network X to level accusations against judges whose decisions he didn’t like and promoted false Kremlin talking points about Ukraine President Volodymyr Zelenskyy.

Activists and former Musk fans have protested at Tesla facilities throughout the U.S., and Tesla vehicles and facilities have been the apparent targets of vandalism and arson attempts. Repeated arson attempts and instances of vandalism occurred at a Tesla store and service center in Loveland, Colorado, most recently on March 7, police told CNBC.

Ben Kallo, an analyst at Baird, told CNBC’s “Squawk on the Street” on Monday that recent reports of vandalism could hurt demand.

“When people’s cars are in jeopardy of being keyed or set on fire out there, even people who support Musk or are indifferent Musk might think twice about buying a Tesla,” Kallo said.

Analysts at Bank of America’s wrote in a report on Monday that Tesla new vehicle sales plummeted by about 50% in Europe in January from a year earlier, partly owing to growing distaste for the brand. The firm also noted that some prospective customers are waiting for the new version of the Model Y.

Tesla’s Model Y, which is a small SUV, remained the best-selling battery electric vehicle globally in January. It was followed by China’s Geely Geome, which surpassed the Tesla Model 3 sedan for the month.

Global sales of electric vehicles, including fully electric and plug-in hybrid models, increased 21% in January from a year ago, even as Tesla’s sales declined. The growth was driven by demand in Europe, according to Bank of America.

— CNBC’s Jesse Pound contributed to this report.

This post appeared first on NBC NEWS

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X sees major outages as Musk claims ‘massive cyberattack’ hit platform

Three separate outages appeared to hit Elon Musk’s X social media site Monday as he claimed it was suffering a ‘massive cyberattack.’

Downdetector.com first registered thousands of reports of trouble accessing or using the site around 5:30 a.m. ET. It took about an hour before those issues subsided.

Then, around 9:30 a.m., the issues appeared to flare up again, with as many as 40,000 outage reports detected. It again took about an hour for that incident to dissipate.

Finally, around 11:10 a.m., the issues cropped up again, according to Downdetector.

A representative for X couldn’t immediately be reached for comment.

Musk said Monday afternoon on X that there had been a ‘massive cyberattack’ against the site.

‘We get attacked every day, but this was done with a lot of resources. Either a large, coordinated group and/or a country is involved,” he said. He didn’t post any evidence of a cyberattack.

Experts said the outage was consistent with a distributed denial of service (DDoS) attack, a rudimentary but sometimes effective hacker tactic to overwhelm a website with traffic, effectively knocking it offline.

Isik Mater, the director of research at NetBlocks, a company that tracks global internet connectivity, told NBC News that X had suffered intermittent outages since Monday morning. While establishing a DDoS attack with certainty can be difficult, Mater said, Musk’s claim was plausible.

“It’s difficult to be certain, but given the pattern of three observed outages, a denial [of] service attack targeting X’s infrastructure can’t be ruled out,” she said. “It’s certainly one of the longest X/Twitter outages in our records.”

Musk said in an interview Monday afternoon on Fox Business that the outage was due to “a massive cyberattack to try to bring down the X system with IP addresses originating in the Ukraine area,” a reference to internet protocol addresses. IP addresses, strings of numbers assigned to all internet-connected devices, include codes indicating their countries of origin.

Large DDoS attacks usually rely on large armies of hacked devices from around the world. The IP addresses of the devices used against X aren’t public, and they are unlikely to be a reliable indication of where the attacker was based.

This post appeared first on NBC NEWS

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Southwest Airlines will charge to check bags for the first time, launch basic economy tickets

It’s happening: Southwest Airlines will start charging passengers to check bags for the first time.

It’s a stunning reversal that shows the low-cost pioneer is willing to part with a customer perk executives have said set it apart from rivals in more than half a century of flying in hopes of increasing revenue.

Southwest’s changes come after months of pressure from activist Elliott Investment Management. The firm took a stake in the airline last year and won five board seats as it pushed for quick changes at the company, which held on for decades — until now — to perks such as free checked bags, changeable tickets and open seating.

For tickets purchased on or after May 28, Southwest customers in all but the top tier-fare class will have to pay to check bags, though there will be exceptions. Elite frequent flyers who hold “A-List Preferred” status will still get two bags and A-List level members will get one free checked bag. Southwest credit card holders will also get one free checked bag.

“Two bags fly free” is a registered trademark on Southwest’s website. But its decision to about-face on what executives long cast as a sacrosanct passenger perk brings the largest U.S. domestic carrier in line with its rivals, which together generated $5.5 billion from bag fees last year, according to federal data.

Southwest executives have long said they didn’t plan to charge for bags, telling Wall Street analysts that it was a major reason why customers chose the airline.

“After fare and schedule, bags fly free is cited as the No. 1 issue in terms of why customers choose Southwest,” CEO Bob Jordan said on an earnings call last July.

But Southwest has changed its tune.

“What’s changed is that we’ve come to realize that we need more revenue to cover our costs,” COO Andrew Watterson said in an interview with CNBC about the baggage fee changes. “We think that these changes that we’re announcing today will lead to less of that share shift than would have been the case otherwise.”

In September, Southwest’s then-chief transformation officer, Ryan Green, told analysts that its analysis showed Southwest would lose more money from passengers defecting to rivals if it started charging for bags than it would make from the fees.

“The fact that free bags is a key driver of choice creates the risk that customers may choose the competition if we change the policy,” he said.

Southwest said last month that it had parted ways with Green.

The airline also said Tuesday that it will launch a new, basic economy fare, something rivals have offered for years.

Southwest, in addition, will change the way customers earn Rapid Rewards: Customers will earn more of the frequent flyer miles depending on how much they pay. Redemption rates will vary depending on flight demand, a dynamic pricing model competitors use.

And flight credits for tickets for tickets purchased on or after May 28 will expire one year, or earlier, depending on the type of fare purchased.

It’s the latest in a string of massive strategy changes at Southwest as its performance has fallen behind rivals.

Last July, Southwest shocked passengers when it announced it would ditch its open seating model for assigned seats and add “premium” extra legroom options, ending decades of an single-class cabin.

The airline is also looking to slash its costs. Higher expenses coming out of the pandemic have taken a bite out of airline margins.

Last month, Southwest announced its first mass layoff, cutting about 1,750 jobs roughly 15% of its corporate staff, many of them at its headquarters, a decision CEO Jordan called “unprecedented” in the carrier’s more than 53 years of flying.

“We are at a pivotal moment as we transform Southwest Airlines into a leaner, faster, and more agile organization,” he said last month.

Earlier this year, Southwest announced the retirement of its longtime finance chief, Tammy Romo, who was replaced by Breeze executive Tom Doxey, and its chief administrative officer, Linda Rutherford. Both executives worked at Southwest for more than 30 years.

Southwest has also cut unprofitable routes, summer internships and employee teambuilding events its held for decades.

This post appeared first on NBC NEWS

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Dick’s Sporting Goods is latest retailer to forecast rocky 2025 as recession fears swirl

Dick’s Sporting Goods on Tuesday said it’s expecting 2025 profits to be far lower than Wall Street anticipated, making it the latest retailer to forecast a rocky year ahead as consumers contend with tariffs, inflation and fears around a potential recession. 

In an interview with CNBC, Executive Chairman Ed Stack said the company’s exposure to China, Mexico and Canada for sourcing is very small, but it recognizes that falling consumer confidence could impact spending.

“I do think it’s just a bit of an uncertain world out there right now,” said Stack. “What’s going to happen from a tariff standpoint? You know, if tariffs are put in place and prices rise the way that they might, what’s going to happen with the consumer?”

On a call with analysts, CEO Lauren Hobart insisted the company is not seeing a weak consumer, and said its guidance is based on the overall uncertain environment.

“We definitely are feeling great about our consumer,” said Hobart. “We are just reflecting an appropriate level of caution given so much uncertainty out in the marketplace.”

Shares of the company opened about 2% lower.

Despite the weak guidance, the sporting goods retailer posted its best holiday quarter on record. Its comparable sales rose 6.4%, far ahead of the 2.9% growth that analysts expected, according to StreetAccount. 

Here’s how Dick’s did in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:

Earnings per share: $3.62 vs. $3.53 expected

Revenue: $3.89 billion vs. $3.78 billion expected

The company’s reported net income for the three-month period that ended Feb. 1 was $300 million, or $3.62 per share, compared with $296 million, or $3.57 per share, a year earlier.  

Sales rose to $3.89 billion, up about 0.5% from $3.88 billion a year earlier. Like other retailers, Dick’s benefited from an extra week in the year-ago period, which has skewed comparisons. But unlike many of its peers, Dick’s still managed to grow both sales and profits during the quarter, even with one less selling week. 

In the year ahead, Dick’s is expecting earnings per share to be between $13.80 and $14.40, well short of Wall Street estimates of $14.86, according to LSEG. It anticipates net sales will be between $13.6 billion and $13.9 billion, which at the high end is in line with estimates of $13.9 billion, according to LSEG. Dick’s expecting comparable sales to grow between 1% and 3%, compared with estimates of up 2.5%, according to StreetAccount. 

The gloomy earnings outlook comes after a wide array of other retailers gave weak forecasts for the current quarter or the year ahead amid concerns about sliding consumer confidence and the impact tariffs and inflation could have on spending. Kohl’s also offered a weak outlook for the year ahead on Tuesday, leading its shares to plummet 15%.

Some retailers blamed an unseasonably cool February for a weak start to the current quarter, but most recognized they’re also operating in a tough macroeconomic backdrop, and it’s harder than ever to forecast how consumers are holding up. In February, consumer confidence slid to its lowest levels since 2021, the jobs report came in weaker than expected and unemployment ticked up. Over the last few years, a strong job market has led many economists to brush away concerns about rising credit card delinquencies and debt, but those cracks could grow deeper if unemployment continues to rise. 

On Monday, some of those concerns triggered a stock market sell-off, extending losses after the S&P 500 posted three consecutive negative weeks. The Nasdaq Composite saw its worst day since September 2022, while the Dow lost nearly 900 points and closed below its 200-day moving average for the first time since Nov. 1, 2023.

Beyond the uncertain macroeconomic environment, Dick’s plans to invest more heavily in its “House of Sport” concept and e-commerce in the year ahead, which it also expects will weigh on profits. The massive, 100,000-square-foot stores are a growth area for the company and include features like rock climbing walls and running tracks. 

In the year ahead, Dick’s plans to spend $1 billion on a net basis building 16 additional House of Sport locations and 18 Field House locations, which take some of the experimental elements of the House of Sport but fit it into the size of a traditional Dick’s store. 

The strategy comes at a strong point for sports in the country, which is expected to be a tail wind for the business. The 2026 World Cup will be held in North America, women’s sports are more popular than ever, and consumers are increasingly focused on health and wellness. 

“We’re going to have a moment here in the next three or four years, from a sports standpoint, that I think is going to put sport on steroids,” said Stack. “We’re going into a sports moment right now, and we are investing very heavily into that sports moment over the next several years because this is going to last through [2030] and maybe beyond.”

— Additional reporting by CNBC’s Courtney Reagan.

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Volcano eruption in Guatemala forces hundreds to evacuate

Guatemala’s Volcano of Fire is erupting, and authorities have evacuated nearly 300 families while warning that another 30,000 people in the area could be at risk.

The eruption started overnight. There is no immediate report of casualties. The 12,300-foot (3,763-meter) high volcano is one of the most active in Central America. It last erupted in June 2023.

The volcano spewed gas and ash far into the sky Monday, leading authorities to close schools in the vicinity and a key road connecting communities.

Claudinne Ugalde, secretary of the disaster agency, said “some 30,000 people more or less are at risk in these three (jurisdictions) and we are trying to have them evacuate or self-evacuate,” she said.

The biggest danger from the volcano are lahars, a mixture of ash, rock, mud and debris, that can bury entire towns.

A 2018 eruption killed 194 people and left another 234 missing.

Isaac García, 43, a resident of El Porvenir on the slopes of the volcano, had that tragedy in mind when he and his family decided to heed authorities’ warnings to evacuate early Monday.

“We were a little worried because a few years ago the volcano became active,” García said, referencing the 2018 eruption, as he spoke with a mask to protect against the falling ash. He came to a shelter opened in San Juan Alotenango with his mother, wife and their three children, as well as other relatives.

The volcano is 33 miles (53 km) from Guatemala’s capital.

The flow of volcanic material is weak to moderate but expected to increase, Guatemala’s disaster agency said early Monday.

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Kurdish-led Syrian Democratic Forces to merge with Syrian state institutions in landmark deal

Syria’s interim government says it has reached a landmark agreement with the Kurdish-led Syrian Democratic Forces to integrate the group into state institutions.

Interim President Ahmad al-Sharaa announced the deal on Monday, saying it was aimed at “ensuring the rights of all Syrians in representation and participation in the political process and all state institutions based on competence, regardless of their religious and ethnic backgrounds.”

The deal will also recognize as an integral part of the state Syria’s Kurdish community, tens of thousands of whom were previously denied citizenship under the decades-long rule of the Assad regime.

News of the deal is one of the biggest developments in the country since the rebel alliance led by Sharaa toppled the former President Bashar al-Assad in December.

By integrating the Kurdish community, it hopes to guard against the possibility of further sectarian strife in the country, which suffered through more than a decade of civil war before Assad’s downfall.

The SDF, which was not part of the rebel alliance that overthrew Assad, is presently the most powerful non-governmental force in the country and holds strategic territories, primarily in the northeast.

Under the new deal, those areas would come under the control of the central government.

Executive committees have been tasked with making sure the agreement is implemented by the end of the year.

While the SDF has been a key US partner in the fight against ISIS, it is largely made up of fighters from a group known as the Peoples’ Protection Units (YPG), which is considered a terrorist organization by neighboring Turkey.

In the days following Assad’s ousting, it repeatedly clashed with Turkish-backed militants, raising concerns among US officials and experts about the security of the more than 20 detention facilities and camps holding suspected ISIS members and their families in northern Syria.

Neighboring countries Turkey, Iraq, Jordan and Lebanon have all offered to help secure prisons holding ISIS suspects.

Michael Rios contributed to this report

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Cuts to US foreign aid are hurting efforts to tackle human trafficking at scam compounds. Americans may pay the price

It wasn’t long after landing in Bangkok, Thailand, in the summer of 2023 that Jalil Muyeke realized that something was terribly wrong.

He knew that the city – where he was planning to start a new data entry and online marketing job – was a short drive from the airport. But the man who picked him up drove for hours into the countryside.

Without cellphone service, and fearing that his driver might have a weapon, the then 32-year-old Ugandan felt powerless to escape. He says that eventually, he was bundled into a canoe and taken across the Moei River into Myanmar, where he was dropped off at a scam compound.

Today, more than more than 220,000 people from across the world are estimated to have been trafficked to Myanmar and Cambodia and forced to con people around the globe out of their savings.

Muyeke was told by his overseers, who he said were Chinese, to assume the identity of a female fashion designer living in San Francisco, and to reach out to men on dating apps like Bumble and Happn. His job was to get the phone numbers of two men a day.

He would pass on the numbers to others trained in so-called “pig butchering” scams – referring to the way farmers “fatten up” pigs before killing them – who would form close, often romantic relationships with the unwitting targets, without ever meeting them, before convincing them to invest in cryptocurrency schemes.

Jalil Muyeke in Kampala, Uganda, in October 2024.
Jalil Muyeke

“We were told to exclusively target Americans and Canadians,” he said. “That it was easier to get money from Americans because they have money, and those who didn’t have a lot of it wanted to make a lot of it.”

Similar operations, run mostly by Chinese criminal syndicates, are proving lucrative. Cyber scams run out of Southeast Asia generate more than $43 billion a year, according to the US Congress-founded United States Institute of Peace. The FBI estimates that in 2023, tens of thousands of Americans lost almost $4 billion in pig butchering scams – a 53% increase from 2022.

Now, anti-trafficking groups say the problem could get worse after vital funding that helped combat scam centers, and helped those forced to work at them, was lost due to sweeping cuts to foreign aid by the Trump administration.

NGOs at a standstill

“They’ve been given four weeks to close out, and there has been zero conversations on transferring any of the work that we’ve been doing,” said the former official, who asked to remain anonymous due to concern over possible retribution. USAID did not respond to a request for comment.

In Mae Sot, a city on Thailand’s western border, Australian not-for-profit Global Alms supports trafficking victims, including people who have been forced to work in scam compounds across the river in Myanmar. They come from countries including the Philippines, Indonesia, Uganda, Sri Lanka, India and Pakistan, said Global Alms CEO Mechelle Moore. Some pay ransom to be freed, others escape and swim across the river. But nearly all of them arrive traumatized, she added.

“You see varying degrees of mutilation and torture and injury,” said Moore. “Lots of scars, bruising; sometimes they have broken bones. One girl arrived unconscious and later died.”

Scam compounds in Myanmar can be seen in this picture taken across the border in Mae Sot, Thailand, in February 2025.
Mark Phillips/CNN

A few weeks ago, Global Alms lost its State Department lifeline, according to Moore, which made up 60% of its funding. She dipped into her own savings to help the people flowing across the border, providing them with emergency kits and accommodation, and helping guide them through the bureaucracy required to get home.

The funding was recently unfrozen, but she said, “there’s a lot of other NGOs out there that are just at a standstill right now.”

A growing global ‘scamdemic’

Interpol says that what began as a regional threat to Southeast Asia has now turned into a “global human trafficking crisis” impacting “millions of victims, both in the cyber scam centers and as targets.”

Officials across Southeast Asia and China have made periodic efforts to combat the scourge, and thousands were reportedly awaiting repatriation in Mae Sot after a recent crackdown.

“The mass repatriation didn’t happen in a vacuum,” says Mina Chiang, the founder of the UK-based social enterprise Humanity Research Consultancy (HRC), adding that organizations like hers have spent years providing intelligence on human trafficking to national authorities and Interpol, and advocating for action.

Its work is now at risk. HRC, which has historically relied on USAID funding for most of its income, has had to put team members on leave, said Chiang.

The former USAID official said that criminal organizations are likely to be emboldened by the abrupt termination of USAID programs, which in many countries were the main source of financing for shelters assisting victims. Providing a safe haven was crucial in convincing victims to work with law enforcement to help prosecute the perpetrators, the official said.

What is now widely referred to as a “scamdemic” is no longer confined to Southeast Asia. Friedman says that the model of human trafficking into scam centers, which originated in Southeast Asia, has spread to places including Bangladesh, Nepal, India, and Dubai. “This issue, if left unchecked, is going to get even more out of hand,” he said.

Muyeke was lucky to have escaped when he did. After seven months at the scam compound – during which he says he often warned targets that they were being scammed in messages he quickly deleted so his bosses wouldn’t see them – he negotiated with his captors to release him in exchange for taking a sick Ugandan woman with him, taking her off their hands.

He says he was left at a bus stop in Mae Sot, with barely any money and an expired visa, before handing himself in to immigration authorities, who he says fined and detained him. He doubts that many others would make the journey unsupported.

This aerial view of scam compound buildings in Myanmar was taken from the Phop Phra district in Thailand last month. The Moei River divides Thailand and Myanmar.
Mechelle Moore/Global Alms

On Monday, the Trump administration officially cancelled 83% of the programs at USAID. “The 5200 contracts that are now cancelled spent tens of billions of dollars in ways that did not serve, (and in some cases even harmed), the core national interests of the United States,” Secretary of State Marco Rubio claimed in a post on X from his personal account.

Meanwhile, there is an ongoing legal battle over foreign aid contracts. Counter-trafficking groups say that in some cases, the damage has already been done, with staff laid off and offices shuttered.

Muyeke is following the developments closely. “I know people who are still inside who want to come back home, but they can’t right now, because the people who would have helped them get back are being funded by US aid,” he says.

He is also worried about the wider implications of the US moves. “Most of the people cheering this thing on are people who are just thinking about themselves and America right now,” says Muyeke. “They are digging a grave for themselves … it’s Americans who are the predominant targets.”

This post appeared first on cnn.com

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