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President Donald Trump announced on Monday that construction has begun on a new, privately funded White House Ballroom – a long-envisioned addition designed to host state visits and large gatherings – as part of a modernization of the East Wing.

‘I am pleased to announce that ground has been broken on the White House grounds to build the new, big, beautiful White House Ballroom,’ Trump said on Truth Social. ‘Completely separate from the White House itself, the East Wing is being fully modernized as part of this process, and will be more beautiful than ever when it is complete!

‘For more than 150 years, every President has dreamt about having a Ballroom at the White House to accommodate people for grand parties, State Visits, etc. I am honored to be the first President to finally get this much-needed project underway — with zero cost to the American Taxpayer!’ he continued. ‘The White House Ballroom is being privately funded by many generous Patriots, Great American Companies, and, yours truly. This Ballroom will be happily used for Generations to come!’

White House press secretary Karoline Leavitt said during a briefing in July that the construction of the estimated $200 million new ballroom would begin in September and be ‘completed long before the end of President Trump’s term.’

Her announcement came after a similar gesture earlier this year, when Trump personally financed the installation of two 88-foot American flags flanking the White House, each reportedly costing about $50,000.

‘The White House is currently unable to host major functions honoring world leaders in other countries without having to install a large and unsightly tent approximately 100 yards away from the main building’s entrance,’ Leavitt said at the time, adding the new ballroom will be ‘a much needed and exquisite addition.’

She also said the United States Secret Service will provide the necessary security enhancements and modifications during the construction.

The project is intended to provide a dedicated space for hosting official events, state dinners and large ceremonial gatherings.

The new 90,000-square-foot addition will accommodate approximately 650 seated guests and will stay true to the classical design of the White House.

The White House does not have a formal ballroom, and the new ballroom will take the place of the current East Wing of the White House.

Trump chose McCrery Architects to design the project, with Clark Construction overseeing the build and AECOM providing engineering support.

Fox News Digital’s Amanda Macias contributed to this report.

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A pair of Senate Republicans plan to nominate President Donald Trump for the Nobel Peace Prize for his role in fast-tracking the production and distribution of vaccines during the COVID-19 pandemic.

Sen. Bill Cassidy, R-La., and Senate Majority Whip John Barrasso, R-Wyo., plan to introduce a resolution that would formally nominate Trump for the prize for launching Operation Warp Speed at the onset of the pandemic in 2020.

The executive action saw a large-scale collaboration among multiple federal agencies and private companies to fast-track the research, development and distribution of vaccines during the pandemic, and was funded by billions from the Coronavirus Aid, Relief, and Economic Security Act. 

The lawmakers’ push comes after Trump expressed his desire to win the Peace Prize for his involvement in striking a deal between Israel and Hamas, and shortly after the prize committee passed over him. It’s also the most recent in a string of nomination pushes from congressional Republicans. 

Both Cassidy and Barrasso, who were doctors before becoming legislators, lauded the massive mobilization effort and credited Operation Warp Speed for saving millions of lives during the pandemic.

‘When Americans needed a vaccine in record time to stop a once-in-a-generation pandemic, President Trump delivered,’ Cassidy said. ‘The Nobel Prize has been given for a lot less. He should receive the next one!’

Barrasso contended that Operation Warp Speed would ‘not have been possible without President Trump’s bold leadership.’

‘He bent an infamously slow bureaucracy to his will to bring a vaccine to market in under a year. Operation Warp Speed saved millions of lives in the United States and millions more lives around the world. President Trump deserves the Nobel Peace Prize for his life-saving achievement,’ he said.

Other congressional Republicans have sought to nominate Trump for the award for varying achievements this year, including his involvement in striking a deal to see the end of the Israel-Hamas War. 

And Dr. Mehmet Oz, who Trump tapped as administrator for the Centers for Medicaid & Medicare Services, argued the president should win the prize for Operation Warp Speed, which he called a ‘a massive success for our country.’ 

But their push to nominate Trump for his role in vaccine development comes after both lawmakers sparred with Human Health and Services (HHS) Secretary Robert F. Kennedy Jr., during a Senate hearing last month following turmoil at the Centers for Disease Control and Prevention and questions over his stance on vaccines.

Cassidy pressed Kennedy during his appearance before the Senate Finance Committee in September, where the HHS Secretary agreed that Trump should win the prize for Operation Warp Speed.

‘Absolutely, senator,’ Kennedy said.

However, at the time, Cassidy questioned Kennedy’s actions against vaccines prior to his role as HHS Secretary — and while leading the agency — that appeared to counter his support for Operation Warp Speed.

Kennedy countered that he began litigating against former President Joe Biden’s COVID-19 vaccine mandates and not against Trump’s push with Operation Warp Speed.

‘First of all, the reason that Operation Warp Speed was genius is it did something nobody ever [had] done — I don’t think any president but President Trump could do it — it got the vaccine to market that was perfectly matched to the virus at that time,’ Kennedy said. 

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A House Republican exploring higher office is predicting the ongoing government shutdown will make the 2026 midterm field a more difficult one for Democrats.

‘Once all the dust settles, I think people will think, ‘Why did the Democrats shut it down? What was their reason? What did they get out of it?’’ Rep. Randy Feenstra, R-Iowa, told Fox News Digital.

‘And I think once this all passes over the next two, three months, I think people will think, like, ‘Shame on all these partisan antics the government did and shame on [Senate Majority Leader Chuck Schumer, D-N.Y.] for going down this path, having no idea of how to get it reopened.’

Feenstra is expected to announce a run for Iowa governor, having already started gathering endorsements and creating a ‘Feenstra for Governor’ website.

He’s also one of the vast majority of House Republicans who voted to pass the GOP’s government funding bill on Sept. 19.

It was a seven-week extension of fiscal year (FY) 2025 federal funding levels called a continuing resolution (CR), aimed at giving congressional negotiators more time to strike a longer-term deal on FY2026 spending.

But in the Senate, where at least several Democrats are needed to reach the 60-vote threshold to break a filibuster, progress has stalled.

Senate Democrats have tanked the bill in the upper chamber 11 times since the House passed it.

Three members of the Senate Democratic caucus have been voting with Republicans, but under the current tally, at least five more are needed to hold a final vote on the bill.

Democrats are demanding that any funding bill be paired with significant concessions on healthcare, specifically an extension of Obamacare subsidies that were enhanced during the COVID-19 pandemic, which are set to expire at the end of this year.

I think it affects people up and down the ticket, because you have the Democrats … who say, ‘Schumer is right.’ You have these liberal progressives that no matter what happens, they just want to spend more money, and they want to make sure illegal immigrants get healthcare,’ Feenstra said.

‘It’s very concerning, I think once people understand that, I think it could have a really catastrophic effect on Democrats next election cycle,’ he said.

Democrats have called GOP accusations that they want to restore healthcare for illegal immigrants a lie. A counter-proposal for a CR introduced by Democrats last month would eliminate healthcare changes in Republicans’ One Big Beautiful Bill Act, some of which are aimed at keeping certain noncitizens from accessing government-funded healthcare.

Feenstra also criticized Democrats’ counter-proposal because it would eliminate a new $50 billion rural hospital fund established in Republicans’ policy bill.

‘Everybody’s really worried about our healthcare. There’s $50 billion in the ‘big, beautiful bill,’ [President Donald Trump’s] big, beautiful bill, to help critical access hospitals in the Midwest and in Iowa. That’s in jeopardy right now,’ Feenstra said.

‘So there’s a lot of concern right now in rural Iowa. And everybody understands that you’ve got to get the government open so that we can negotiate and figure this out.’

The Iowa Republican, whose district skews heavily rural, said he was also worried about critical programs for farmers that are endangered by the shutdown.

‘This is really affecting the farm community over in the Midwest,’ he said.

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Former President Joe Biden completed a round of radiation treatment for his aggressive form of prostate cancer on Monday.

Biden had been undergoing treatment at Penn Medicine Radiation Oncology in Philadelphia for several weeks. The former president’s daughter, Ashley Biden, hailed the milestone in a post on social media.

‘Rung the bell! Thank you to the incredible doctors, nurses, and staff at Penn Medicine. We are so grateful!’ she wrote on Instagram.

‘He rang the bell today,’ Biden spokeswoman Kelly Scully confirmed, according to CBS News.

‘Dad has been so damn brave throughout his treatment. Grateful,’ Ashley wrote in a follow-up post.

It is common practice for cancer treatment centers to have patients ring a bell when they complete a round of radiation treatment. It serves as both a mark of progress for the patient and a form of encouragement for other patients undergoing treatment in the facility.

It is unclear whether Biden will need to undergo further rounds of radiation therapy.

Biden announced his diagnosis with prostate cancer in May, saying it had already metastasized and spread to his bones. The announcement redoubled concerns that the White House was not being forthright about Biden’s health during his time in office.

Biden also underwent surgery Sept. 4 to remove cancerous skin cells through a procedure known as Mohs surgery.

During his presidency, Biden had a cancerous skin lesion removed from his chest, the White House previously said. Former White House physician Kevin O’Connor noted in February 2023 that a biopsy of skin tissue taken during a health assessment revealed cancerous cells, all of which were successfully removed.

Fox News’ Bonny Chu contributed to this report.

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Customers of the athletic shoe company On have filed a class action lawsuit alleging that some of the brand’s sneakers squeak embarrassingly loudly when they walk.

The class action suit, filed in the U.S. district court in Portland — where On’s U.S. headquarters is located — on October 9, targets On’s shoes made with ‘CloudTec’ technology. A hallmark of many of the brand’s styles, ‘CloudTec’ is composed of differently shaped holes that cover the external and bottom surfaces of the shoes, according to the lawsuit.

At least 11 of On’s sneaker styles are referenced in the lawsuit, including the Cloud 5 and Cloud 6, CloudMonster, and Cloudrunner, among others.

Lawyers for the plaintiffs did not immediately respond to a request for comment. A representative for On said the company does not comment on ongoing legal matters.

According to the lawsuit, ‘CloudTec’ was created to ‘provide cushioned support when wearers land.’ But according to plaintiffs, the technology ‘rubs together’ when wearers walk or run, ‘causing a noisy and embarrassing squeak with each and every step.’

The lawsuit, however, admits that while the squeaky shoes are ‘seemingly inconsequential,’ the company has allegedly refused to provide refunds to those who are unhappy with their sneakers, leaving customers with ‘no relief after buying almost $200 shoes they can no longer wear without their doing significant DIY modifications to the shoe.’

‘No reasonable consumer would purchase Defendant’s shoes — or pay as much for them as they did — knowing each step creates an audible and noticeable squeak,’ the lawsuit states.

Nurses and those who are on their feet all day ‘bear the brunt of this defect,’ the suit argues, which allegedly causes ‘issues for consumers in their daily lives.’

According to the lawsuit, complaints about the squeaking have been widespread and documented on TikTok and Reddit, where customers share ‘DIY’ remedies for the noisy shoes, including rubbing coconut oil on the soles or sprinkling baby powder inside the sneaker.

The lawsuit alleges the company is aware of its squeaky sneakers, but its warranty does not cover reports of noisy soles as On characterizes them as ‘normal wear and tear,’ and has stated in online comments that ‘squeaking isn’t currently classified as a production defect.’

The lawsuit also alleges that the company can better make its products to avoid squeakiness, but that On has ‘done nothing’ to remedy the issue.

Plaintiffs allege they have suffered an ‘ascertainable loss’ due to fraudulent business practices and a ‘deceptive marketing scheme,’ and are seeking ‘compensatory, statutory, and punitive damages’ as well as refunds on their squeaky sneakers.

This post appeared first on NBC NEWS

Gold Fields (NYSE:GFI) has completed its AU$3.7 billion purchase of Gold Road Resources.

Gold Road rejected Gold Fields’ first acquisition proposal in March, saying it undervalued the company.

Following negotiations between the two parties, Gold Fields, through its wholly owned entity Gruyere Holdings, entered into a scheme implementation deed with Gold Road on May 5. Under the AU$3.7 billion deal, the companies agreed that Gold Road shareholders would receive fixed cash consideration of AU$2.52 per share.

‘The Scheme provides Gold Road shareholders with an opportunity to realise certain value for their Gold Road shares at a compelling premium,” said Gold Road Managing Director and CEO Duncan Gibbs at the time.

“This offer price represents a material premium to the undisturbed share price prior to the initial Gold Fields’ proposal and a material premium to longer term trading levels,’ he added.

Under the deal, Gold Fields will gain a 100 percent interest in the Gruyere project in Western Australia.

Gruyere, which the companies previously worked on together as a joint venture, currently holds an open-pit mineral resource of 6.04 million ounces, and ore reserves of 3.67 million ounces.

Its average annual gold production stands at at 350,000 ounces.

According to Gold Fields, all Gold Road shares are now owned by Gruyere Holdings. Following the scheme’s implementation, Gold Road is expected to apply to delist from the Australian Securities Exchange.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

China has accused the US of “seriously distorting and exaggerating” Beijing’s newly expanded rare earths export controls, but signaled a willingness to hold talks before an expected meeting between US President Donald Trump and Chinese President Xi Jinping later this month.

“The US interpretation seriously distorts and exaggerates China’s measures, deliberately creating unnecessary misunderstanding and panic,” Ministry of Commerce spokesperson He Yongqian said Thursday (October 16).

According to the Global Times, he emphasized that Beijing’s restrictions are intended to protect national security and prevent the misuse of rare earths in military applications, not to destabilize global markets.

The remarks follow a sharp escalation in rhetoric between the two countries after China expanded its export controls last week to include five additional rare earth elements: holmium, erbium, thulium, europium and ytterbium.

The new rules will take effect in stages starting November 8, coinciding with the expiry of a six month trade truce between Washington and Beijing. Foreign companies that use Chinese materials or equipment to produce rare earths products will require Chinese export licenses, even if no Chinese firm is directly involved in the transaction.

Beijing has also vowed stricter scrutiny of applications tied to advanced semiconductors and defense systems, such as 14 nanometer chips and artificial intelligence used in weapons platforms.

Washington pushes back against Beijing

Top US officials have accused Beijing of attempting to weaponize its dominance in the global rare earths supply chain, which accounts for about 70 percent of global production and more than 90 percent of processing capacity.

At a press briefing on Wednesday (October 15), US Trade Representative Jamieson Greer called China’s new measures a “global supply chain power grab” and warned that Washington and its allies “would not accept the restrictions.”

However, he also said China has not yet implemented the full regulatory system and suggested there is still room to de-escalate. “These are drafted, or in draft, so it’s quite real,” Greer said.

“But our expectation is that they won’t implement this, and that we’ll be able to be back to where we were a week ago, where we had the tariff levels we’ve agreed to and the flow of rare earths that we agreed to.”

Secretary of the Treasury Scott Bessent echoed the sentiment, telling CNBC that the Trump administration does not want to further inflame tensions, but will act decisively if Beijing moves forward with its restrictions.

“When we get an announcement like this week with China on the rare earths, you realize we have to be self-sufficient, or we have to be sufficient with our allies,” Bessent said.

He also accused China of using its dominance in rare earths refining and processing to slash prices and drive foreign competitors out of the market. Trump has threatened to impose 100 percent tariffs on Chinese goods starting on November 1 — or sooner — if Beijing moves ahead with the export controls.

Despite the mounting friction, both sides remain committed to a scheduled meeting between Trump and Xi in South Korea later this month, highlighting the indispensable nature of rare earths to modern industry.

They are used in electric vehicles, wind turbines, smartphones and, crucially, in US military systems such as F-35 fighter jets, Tomahawk missiles and Predator drones. Each F-35 is estimated to require more than 400 kilograms of rare earths for its stealth coatings, motors and radar systems.

US eyes new critical minerals sources

In response to China’s dominance, Washington has ramped up efforts to secure alternative sources of critical minerals.

The Department of Defense earlier this year struck a deal with MP Materials (NYSE:MP), the largest US rare earths producer. It includes an equity stake, a price floor and an offtake deal to guarantee supply for defense applications.

Separately, the Trump administration is reportedly exploring a potential investment in Critical Metals (NASDAQ:CRML), a US-listed firm developing Greenland’s vast Tanbreez rare earths deposit.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Here’s a quick recap of the crypto landscape for Friday (October 17) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$106,495, a 1.7 percent decrease in 24 hours. Its lowest valuation of the day was US$104,747, and its highest was US$107,411.

Bitcoin price performance, October 17, 2025.

Chart via TradingView.

The Bitcoin price remains under pressure. While sizable short liquidations of both Bitcoin and Ether have provided pockets of buying relief, overall market confidence is tempered. Volatility persists, leaving the market poised for further directional cues from key upcoming earnings and economic data releases.

Ether (ETH) was priced at US$3,830.31, a 1.2 percent decrease in 24 hours. Its lowest valuation of the day was US$3,726.31, and its highest was US$3,845.65.

Altcoin price update

  • Solana (SOL) was priced at US$181.98, a decrease of 2.1 percent over the last 24 hours. Its lowest valuation of the day was US$177.43, and its highest was US$184.74.
  • XRP was trading for US$2.30, a decrease of 1.4 percent over the last 24 hours. Its lowest valuation of the day was US$2.25 and its highest was US$2.31.

Crypto derivatives and market indicators

Bitcoin derivatives metrics indicate a complex market environment with mixed signals.

While short-term buying pressure has occurred, underlying market sentiment remains bearish or neutral, with cautious trading behavior and no strong bullish conviction at this time.

Bitcoin liquidations have totaled approximately US$22.09 million in the last four hours, with short positions making up the majority, signaling a short squeeze or bullish pressure. Ether liquidations show a similar pattern, totaling US$20.86 million, the majority of which were short positions.

Futures open interest for Bitcoin has decreased by 1.56 percent to around US$70 billion, showing strong bearish sentiment. Ether futures open interest was unchanged at around US$44 billion, reflecting market neutrality.

The perpetual funding rate for Bitcoin was -0.009, and for Ether it was -0.015, indicating bearish market sentiment.

Bitcoin’s relative strength index stands at 34.05, indicating that the cryptocurrency is in a bearish/bullish/neutral momentum, phase but not yet deeply oversold.

Fear and Greed Index snapshot

CMC’s Crypto Fear & Greed Index has fallen far into fear territory, dipping to 28 on Friday from an earlier score of 32.

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

Chart via CoinMarketCap.

Today’s crypto news to know

Japanese banks launch yen-backed stablecoin

A group of Japan’s largest banks, including MUFG Bank, Sumitomo Mitsui Banking and Mizuho Bank, are reportedly collaborating to launch a yen-backed stablecoin using MUFG’s Progmat platform.

The initiative aims to create an interoperable payment token for over 300,000 corporate clients. MUFG will be the first user for internal settlements. The stablecoin is expected to roll out by year end, potentially establishing Japan’s first unified bank-backed stablecoin network and accelerating crypto adoption in the region’s financial infrastructure.

Uniswap expands to Solana blockchain

Uniswap has expanded its web app to support the Solana blockchain, enabling users to trade Solana-based tokens, the platform announced in a blog post on Wednesday (October 15). This move broadens Uniswap’s reach beyond Ether, lowering transaction costs and speed for DeFi traders using Solana’s high-performance network.

Ripple adds US$1 billion to XRP treasury

Ripple will reportedly add a US$1 billion purchase of its native XRP cryptocurrency to its digital asset treasury.

Sources for Bloomberg said the treasury funds, which will be raised through a special purpose acquisition company, will be used to support Ripple’s ecosystem development, liquidity provision and strategic partnerships, reinforcing Ripple’s commitment to growing XRP’s adoption in global payments.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com