In a letter sent to Republican House Speaker Mike Johnson, President Donald Trump said he wouldn’t be spending $4.9 billion in congressionally approved foreign aid — effectively cutting the budget without going through the legislative branch. The letter was posted Friday morning on the X account of the White House Office of Management and Budget.…… MORE

WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge mostly held steady last month despite President Donald Trump’s broad-based tariffs, but a measure of underlying inflation increased. Prices rose 2.6% in July compared with a year ago, the Commerce Department said Friday, the same annual increase as in June. The figures illustrate why many officials…… MORE

More companies are recalling tens of thousands of packages of imported shrimp that may contain radioactive contamination. AquaStar USA Corp of Seattle is recalling packages of refrigerated cocktail shrimp sold at Walmart and medium peeled, tail-off shrimp sold at Kroger and other stores. H&N Group, a California seafood distributor, is recalling frozen shrimp sold to…… MORE

Spirit Airlines has filed for fresh bankruptcy protection months after emerging from a Chapter 11 reorganization. The budget carrier said on Friday that it would continue operating as normal during the voluntary restructuring, and customers still can book trips and use tickets. Spirit’s parent company recently expressed “substantial doubt” about its financial future, citing weak…… MORE