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WFH is creating “ghost towns”, says former New York City Mayor

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Cyber attack

Michael Bloomberg, former New York City Mayor and CEO of Bloomberg LP, criticized the Biden administration for failing to follow through on their pledge to return federal workers to their offices.

He says Washington is becoming a “ghost town.”

In a scathing op-ed for the Washington Post, Bloomberg declared that the pandemic was over and that the excuses for allowing federal offices to remain empty should end.

He referred to President Biden’s promise in his March 2022 State of the Union address that the “vast majority” of federal workers would work in person again.

However, despite the end of the COVID health emergency and the vaccination requirements being lifted, many federal agency headquarters still have occupancy averaging less than 10%. Bloomberg pointed out that this has negatively affected customer service in some agencies and that taxpayers should not be paying for empty office spaces and maintenance costs.

Bloomberg emphasized that working remotely, especially for young professionals, hinders their professional development and career growth. He urged the federal government to lead by example and for President Biden to give “hard deadlines” on when he expects federal agency staffers to return to the office full-time.

Bloomberg’s company already requires its staffers to work from their offices at least three times per week, with plans to increase the mandate to four days in the fall.

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Stocks decline as tariffs and trade tensions escalate

Stocks drop as tariffs worry investors; gold hits record high; Canada resists U.S. annexation talk.

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Stocks drop as tariffs worry investors; gold hits record high; Canada resists U.S. annexation talk.

In Short:
Stock indexes declined on Tuesday after a nine-day winning streak, while gold prices soared amid economic concerns. Major companies like Ford and Mattel adjusted forecasts due to tariff impacts, and the trade deficit hit a record high of $140.5 billion.

Stock indexes fell on Tuesday, following declines in the Dow and S&P 500 after a nine-day winning streak.

Gold prices reached a new record as markets reacted to ongoing economic concerns.

The downturn persisted following a meeting between Canadian Prime Minister Mark Carney and President Trump, where Carney rejected any notion of Canada being for sale.

Investors showed continued apprehension about the impact of U.S. tariffs and the absence of new trade agreements, particularly as major companies like Ford and Mattel suspended annual guidance due to tariff uncertainties.

Ford impact

Ford, while less affected than competitors, estimated potential tariff impacts could reduce profits by $1.5 billion, prompting a 2.8% increase in its stock.

In contrast, Mattel’s stock rose by 2.6% after it signalled a potential increase in U.S. toy prices, anticipating a $270 million hit from tariffs, while also planning to move manufacturing from China.

Both WK Kellogg and Marriott International adjusted their financial forecasts downward due to tariff-related challenges and broader economic uncertainties.

Clorox shares fell sharply after the company updated its guidance to reflect tariff impacts.

Additionally, President Trump indicated he would announce the details regarding pharmaceutical tariffs within two weeks.

On a related note, new data revealed the trade deficit reached a record $140.5 billion in March, exceeding economists’ expectations and reflecting a surge in imports amid trade policy changes.

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Trump’s tariffs impact S&P 500 and Nasdaq markets

S&P 500 and Nasdaq decline amid Donald Trump’s new tariffs announcement, raising investor concerns ahead of Fed policy meeting.

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S&P 500 and Nasdaq decline amid Donald Trump’s new tariffs announcement, raising investor concerns ahead of Fed policy meeting.

In Short:
The S&P 500 and Nasdaq fell slightly after President Trump’s 100% tariff on foreign films, with investors worried about market effects ahead of the Federal Reserve’s policy decision. Despite some stocks performing well, overall market volatility and concerns over corporate profitability continue.

The S&P 500 and Nasdaq experienced slight declines on Monday following President Donald Trump’s announcement of a 100% tariff on foreign-produced movies.

Investors are assessing how this new tariff will impact the market ahead of the Federal Reserve’s monetary policy decision later this week.

The major indices have shown volatility since Trump initiated tariffs on April 2, briefly dropping 15% before recovering in the following sessions.

Treasury Secretary Scott Bessent expressed confidence that Trump’s tariff and tax agenda would stimulate long-term investments in the U.S., despite expected short-term market fluctuations.

Markets drop

The Dow Jones Industrial Average increased by 104.18 points, while the S&P 500 decreased by 9.60 points and Nasdaq fell by 39.60 points.

Despite Trump’s announcement, some media stocks showed resilience, while energy stocks suffered losses amid OPEC+ output hikes.

Investors await the Federal Reserve’s upcoming policy announcement, where rates are anticipated to remain unchanged, though future cuts are being priced in for 2025.

Corporate profitability concerns persist due to the new tariffs, evidenced by Tyson Foods’ significant revenue miss, while Skechers reported gains following its plan to go private.

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U.S. economy contracts by 0.3% in first quarter of 2025

U.S. economy shrinks 0.3% in Q1 2025, raising trade policy concerns amid largest export drag since 1947. #USEconomy #GDP2025 #TradeWar #Tariffs

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U.S. economy shrinks 0.3% in Q1 2025, raising trade policy concerns amid largest export drag since 1947.


The U.S. economy contracted by 0.3% in the first quarter of 2025, missing forecasts and sparking concerns about the growing impact of trade policy.

The drop marks the largest net export drag recorded since 1947, as businesses scrambled to import goods before Donald Trump’s new tariffs kicked in.

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#USEconomy #GDP2025 #TradeWar #Tariffs #NetExports #Trump #ConsumerSpending #TickerNews #Q1GDP #EconomicUpdate

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