Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act, allowing tariffs of up to 100% on major buyers of Russian energy. The law also expands sanctions on Russian officials, banks and networks accused of helping Moscow evade penalties.
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Warren Buffett is stepping aside as Berkshire Hathaway chairman and becoming chairman emeritus while remaining on the board. His son Howard G. Buffett will take over as chairman under the company’s succession plan.
The Bank of Japan raised its benchmark interest rate from 1% to 1.25%, the highest level since 1995. The move comes as Japan faces inflation pressures, a weak yen, rising energy costs and a shrinking workforce.
Mark Carney welcomed an EU proposal for closer Canada-Europe ties and said the goal is “collective resilience,” not full EU membership. Donald Trump dismissed the idea as “laughable” and threatened heavy tariffs on Europe if he sees bad intent.
The House passed the Ratepayer Protection Act in a 417-3 vote, aiming to keep consumers from paying for power upgrades tied to large data centers. The bill now heads to the Senate amid growing political pressure over AI, energy prices and local opposition to data center construction.
The House voted 262-159 to approve a Russia sanctions bill named for the late Sen. Lindsey Graham, sending it to President Donald Trump. The measure would allow tariffs of up to 100% on major buyers of Russian energy and extend sanctions authority targeting Iran’s energy and weapons sectors.
The Federal Reserve raised its benchmark interest rate to 3.75% to 4%, its first increase since 2023, citing persistent inflation. President Donald Trump demanded lower rates as officials signaled more hikes may be possible.
A GAO report estimates the Trump administration spent $9.5 billion on paid administrative leave in 2025, driven largely by a deferred resignation program tied to federal downsizing. OPM defended the cost as a one-time expense linked to projected annual savings.