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A Republican bill that could severely restrict partnerships between American and Chinese universities passed the full US House of Representatives with bipartisan support on Wednesday, while policymakers also signalled interest in limits on other possible Chinese threats to US national security.The bill, which would prevent US universities from receiving Department of Homeland Security funding if they “have a relationship” with certain Chinese universities, including those tied to China’s top science institute, advanced 266-153, with only Democrats voting against it.It would need to pass the full Senate before it could be sent to US President Donald Trump for signing into law.“It’s…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldCalifornia and a coalition of 16 states filed a lawsuit against the Trump administration on Wednesday, saying it had unlawfully blocked $5bn in congressional funds allocated to build electric vehicle charging infrastructure.The states allege that an executive order by President Donald Trump directing federal agencies to stop releasing money appropriated for EV infrastructure under former president Joe Biden’s Infrastructure Investment and Jobs Act is unlawful. It is the latest in a series of legal challenges by Democratic-led states against orders…

ISLAMABAD: Minister for National Food Security and Research on Wednesday said that the decision to export surplus urea fertilizer will be made only after a detailed assessment of domestic requirements for the upcoming Rabi and Kharif crop seasons in 2025-26. Speaking during a meeting with ENGRO CEO Ali Rathore, the minister said the ministry will first gather comprehensive data from all provinces regarding their urea fertiliser needs for both crop seasons. “Only after confirming that the available stock exceeds domestic demand the government will consider allowing exports,” the minister stated. During the meeting, the ENGRO CEO informed the minister that…

ISLAMABAD: Minister for National Food Security and Research on Wednesday said that the decision to export surplus urea fertilizer will be made only after a detailed assessment of domestic requirements for the upcoming Rabi and Kharif crop seasons in 2025-26. Speaking during a meeting with ENGRO CEO Ali Rathore, the minister said the ministry will first gather comprehensive data from all provinces regarding their urea fertiliser needs for both crop seasons. “Only after confirming that the available stock exceeds domestic demand the government will consider allowing exports,” the minister stated. During the meeting, the ENGRO CEO informed the minister that…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The US commerce department has scrapped a rule put in place by the Biden administration that limited exports of artificial intelligence chips, arguing it was full of red tape that made it “unenforceable”, a US official said. The move by the Trump administration comes as it takes a more lenient approach to the regulation of AI and other advanced technologies domestically and contends with the rise of Chinese companies in the sector. Instead of allowing the Biden-era controls to take effect on…

U.S. President Donald Trump speaks during a swearing-in ceremony for the new U.S. ambassador to China, former U.S. Senator David Perdue, at the White House in Washington, D.C., U.S., May 7, 2025. Leah Millis | ReutersPresident Donald Trump’s pick for U.S. ambassador to China was sworn in on Wednesday, days before White House officials are set to meet with their Chinese counterparts for the first time since Trump announced his 145% tariffs.”What timing … what timing, only you could’ve picked this timing,” Trump quipped from the White House at Republican former Sen. David Perdue’s swearing in ceremony.”I’m entrusting David to…

The euro fell in European trade on Wednesday against a basket of major rivals, on track for the first loss in four days against the US dollar on growing concerns about the political situation in Germany after a difficult vote for the new German Chancellor Friedrich Merz.   Later today, the important Federal Reserve’s policy meeting is expected to provide clues on the path ahead for US interest rates.   The Price   The EUR/US price fell 0.35% today to $1.1325, with a session-high at $1.1374.   On Tuesday, the pair rose 0.45%, the third profit in a row as…

Judge Jefferson Griffin, the Republican candidate for the N.C. Supreme Court listens to testimony in Wake County Superior Court on Friday, Feb. 7, 2025, in Raleigh, North Carolina. Griffin trails North Carolina Supreme Court Justice Allison Riggs by 734 votes following two recounts of the November 2024 election results. Robert Willett | Raleigh News & Observer | Tribune News Service | Getty ImagesThe Republican candidate for North Carolina’s state Supreme Court conceded on Wednesday, ending his six-month long crusade to overturn the election results in the perennial battleground state.”While I do not fully agree with the District Court’s analysis, I…

WASHINGTON: The Federal Reserve held interest rates steady on Wednesday but said the risks of higher inflation and unemployment had risen, further clouding the economic outlook as the U.S. central bank grapples with the impact of Trump administration tariff policies. The economy overall has “continued to expand at a solid pace,” the Fed said in a policy statement, attributing a drop in first-quarter output to record imports as businesses and households rushed to front-run new import taxes. The labor market also remained “solid” and inflation was still “somewhat elevated,” the central bank’s policy-setting Federal Open Market Committee said, repeating the…

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: The S & P 500 was modestly lower Wednesday after the Federal Reserve left interest rates unchanged at its May policy meeting. Longer dated Treasury yields declined too, meaning they increased in price. Fed Chair Jerome Powell will take questions from reporters at 2:30 p.m. ET, and we’ll update this story with the top central banker’s thoughts on tariffs, inflation and the economic outlook more broadly. Apple-Alphabet: Apple and Alphabet…