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A federal judge has extended a block preventing Elon Musk's government cost-cutting team from accessing the U.S. Treasury Department's payment systems, while another judge allowed the team access to records at health and labor departments. The multiple legal challenges reflect opposition to Trump's government efficiency overhaul spearheaded by Musk.
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News and Media
Wall Street faced drama with headlines on tariffs, inflation, and the Federal Reserve, yet markets remained resilient. Despite initial swings, stocks closed near all-time highs, and Treasury yields rallied. Investors are adapting to avoid past mistakes, focusing on Trump's tariff decisions and economic data. This dynamic reflects strong buying power and cautious optimism in the market.
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News and Media
Yields across government bonds slipped for a second straight day after data showed U.S. retail sales fell more than expected in January, dropping 0.9% last month after an upwardly revised 0.7% increase in December.
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News and Media
The Reserve Bank of India fined Shriram Finance, Nainital Bank, and Ujjivan Small Finance Bank for not adhering to regulatory guidelines. Nainital Bank was fined Rs 61.40 lakh for issues with interest rates and customer service, Ujjivan received a Rs 6.70 lakh fine for not issuing loan agreements, and Shriram Finance was penalized Rs 5.
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News and Media
Federal workers nationwide reacted with confusion and anger to the Trump administration's order to lay off probationary employees. This aggressive move, aimed at shrinking the federal workforce, impacted employees across various states and departments. Some were mistakenly fired despite having accepted buyouts. Unions are challenging the terminations, and the chaotic firings have sparked widespread concern.
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News and Media
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