The 21st Century ROAD to Housing Act will become law without President Donald Trump’s signature after he tied it to a separate Republican voting bill. The bipartisan housing measure passed Congress overwhelmingly and includes provisions aimed at speeding construction and limiting institutional purchases of single-family homes.
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EasyJet’s board says it is minded to recommend a £5.7 billion offer from Apollo Management, replacing support for an earlier Castlelake proposal. Apollo has until Aug. 7 to make a firm bid, while Castlelake’s deadline is Aug. 3.
Ship traffic through the Strait of Hormuz has fallen sharply after attacks on commercial vessels near the US-recommended Omani route. The dispute centers on Iran’s demand that ships use Tehran-approved lanes and US-backed calls for free passage.
Oil prices rose and stocks fell after President Trump said the ceasefire with Iran was over, reviving concerns about inflation and global growth. The renewed conflict also increased pressure on the Federal Reserve as investors priced in a higher chance of a rate increase.
Oil prices rose more than 6% and stock futures fell after President Trump said the Iran ceasefire was “over” following tanker attacks near the Strait of Hormuz and U.S. strikes. The Treasury also revoked a waiver that had allowed Iranian oil sales.
President Trump said the ceasefire with Iran was effectively over after U.S. and Iranian strikes across the Gulf. The escalation followed attacks on ships in the Strait of Hormuz and pushed oil prices up more than 5%.
Microsoft is cutting 4,800 jobs companywide, with Xbox set to lose about 3,200 roles as part of a major restructuring. The company cited weak margins, slower growth in gaming services and rising hardware costs.
Trump Accounts are now open for contributions, offering eligible children a tax-deferred investment account and, for those born from 2025 through 2028, a $1,000 federal contribution. Major donors and companies have pledged billions more for children who do not qualify for the government seed payment.