Oil Soars To Six-Week Highs Amid Trump Threats, US Production Dip, & 'Tank Bottoms' At Cushing

Volkswagen CEO Plans 100,000 Job Cuts In Generational Overhaul German business news outlet Manager Magazin reports that Volkswagen CEO Oliver Blume is eyeing a major restructuring that could eliminate as many as 100,000 jobs. The latest VW earnings show just why: Europe's largest automaker remains bloated in a world of weak demand, a softening Chinese market, rising Chinese competition in Europe, and low margins. "Volkswagen CEO Oliver Blume is getting serious. He plans to drastically intensify job cuts, actually phase out production at four German plants, and spin off the...

Trump Proposes $1.5 Trillion In War Spending, 'Largest In Decades' Via The Cradle US President Donald Trump is asking Congress to boost military spending to $1.5 trillion for 2027, the largest such request in decades, while demanding cuts to domestic spending on social programs, AP reported Friday. The White House released details of the desired spending increase on Friday as part of Trump's 2027 budget proposal. The proposal comes amid the US-Israeli war on Iran, which is costing US taxpayers over $11 billon for each week it continues. US Army/AP image Last month, the Pentagon proposed receiving an...

Trump Talks Economy, Immigration, Taxes, And AI In State Of The Union Address Update (2320ET): While predicted to be '2 or 3 hours,' President Trump's State of the Union was just 109 minutes - though it was still the longest on record since at least 1964. Trump emphasized border security, energy production, and tax policies while throwing Democrats under the bus over the economy and unchecked illegal immigration. Trump declared the "Golden Age of America" and stated that the state of the union is "strong," tying themes to the nation's upcoming 250th anniversary. Key Economic...