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Democrats are drawing closer to the crypto industry despite Trump divisions

Democrats are drawing closer to the crypto industry despite Trump divisions

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By JOEY CAPPELLETTI

WASHINGTON (AP) — As President Donald Trump builds a crypto empire — including hosting a private dinner with top investors at his golf club — Democrats have united in condemning what they call blatant corruption from the White House.

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But the Democratic Party’s own relationship with the emerging crypto industry is far less cut and dried.

Work in the Republican-led Senate to legitimize cryptocurrency by adding guardrails has drawn backing from some Democrats, underscoring growing support for the industry in the party. But divisions have opened over the bill, with many demanding it prevent the Republican president and his family from directly profiting from cryptocurrency. read more

US and China are holding trade talks in London after Trump’s phone call with Xi

US and China are holding trade talks in London after Trump’s phone call with Xi

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By JILL LAWLESS, Associated Press

LONDON (AP) — High-level delegations from the United States and China met in London on Monday to try and shore up a fragile truce in a trade dispute that has roiled the global economy,

A Chinese delegation led by Vice Premier He Lifeng held talks with U.S. Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer at Lancaster House, an ornate 200-year-old mansion near Buckingham Palace.

Wang Wentao, China’s commerce minister, also was part of Beijing’s delegation.

The talks, which may continue Tuesday, follow negotiations in Geneva last month that brought a temporary respite in the trade war.

Stacked containers are seen at the Yangluo Port on the... Stacked containers are seen at the Yangluo Port on the Yangtze River in Wuhan, central China’s Hubei Province, Friday, May 23, 2025. (AP Photo/Andy Wong) Trucks loaded with container move through a container terminal port... Trucks loaded with container move through a container terminal port in Shanghai, China Monday, June 9, 2025. (Chinatopix Via AP) Trucks loaded with container move through a container terminal port... Trucks loaded with container move through a container terminal port in Shanghai, China Monday, June 9, 2025. (Chinatopix Via AP) In this image, taken from a video footage run by... In this image, taken from a video footage run by Phoenix TV via AP Video, Chinese Vice Premier He Lifeng, right, poses for photos with British Chancellor of Exchequer, Rachel Reeves, outside 11 Downing Street in London, England, Sunday, June 8, 2025. (AP Photo/Phoenix TV via AP Video)

1 of 4 Stacked containers are seen at the Yangluo Port on the Yangtze River in Wuhan, central China’s Hubei Province, Friday, May 23, 2025. (AP Photo/Andy Wong)

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The two countries announced May 12 they had agreed to a 90-day suspension of most of the 100%-plus tariffs they had imposed on each other in an escalating trade war that had sparked fears of recession.

The U.S. and China are the world’s biggest and second-biggest economies. Chinese trade data shows that exports to the United States fell 35% in May from a year earlier. read more

Amid Musk threat to decommission SpaceX Dragon, NASA reveals more Boeing Starliner delays

Amid Musk threat to decommission SpaceX Dragon, NASA reveals more Boeing Starliner delays

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As the fracas between Elon Musk and President Trump escalated last week to the point of Musk threatening to decommission SpaceX’s Dragon spacecraft, NASA revealed even more delays to Dragon’s alternative, Boeing’s Starliner.

“NASA is assessing the earliest potential for a Starliner flight to the International Space Station in early 2026, pending system certification and resolution of Starliner’s technical issues,” according to a statement sent to media late Friday.

Though it didn’t mention SpaceX specifically, the statement — coupled with Musk’s threat — underscored the extraordinary degree to which NASA remains dependent on the private company for many of its key endeavors. It came after the fallout between the two powerful men sparked in part by Musk’s opposition to Trump’s so-call “Big Beautiful Bill” that critics including Musk say would increase federal spending.

Trump posted a threat on his Truth Social platform last week saying, “The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts. I was always surprised that Biden didn’t do it!” read more

Apple unveils software redesign while reeling from AI missteps, tech upheaval and Trump’s trade war

Apple unveils software redesign while reeling from AI missteps, tech upheaval and Trump’s trade war

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By MICHAEL LIEDTKE, AP Technology Writer

CUPERTINO, Calif. (AP) — After stumbling out of the starting gate in Big Tech’s pivotal race to capitalize on artificial intelligence, Apple tried to regain its footing Monday during an annual developers conference that focused mostly on incremental advances and cosmetic changes in its technology.

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The presummer rite, which attracted thousands of developers from nearly 60 countries to Apple’s Silicon Valley headquarters, was more subdued than the feverish anticipation that surrounded the event during the previous two years. read more

US stocks drift higher as trade talks start with China in hopes of avoiding a recession

US stocks drift higher as trade talks start with China in hopes of avoiding a recession

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By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks are drifting higher on Monday as the world’s two largest economies begin talks on trade that could help avoid a recession.

The S&P 500 rose 0.3% in afternoon trading. The Dow Jones Industrial Average was rose 58 points, or 0.1%, as of 1:06 p.m. Eastern time, and the Nasdaq composite was 0.5% higher.

Officials from the United States and China are meeting in London to talk about a range of different disputes that are separating them. The hope is that they can eventually reach a deal that will lower each’s punishing level of tariffs against the other, which are currently on pause, so that the flow of everything from tiny tech gadgets to enormous machinery can continue.

Hopes that President Donald Trump will lower his tariffs after reaching such trade deals with countries around the world have been among the main reasons the S&P 500 has rallied so furiously since dropping roughly 20% from its record two months ago. It’s back within 2.1% of its all-time high, which was set in February, and it’s higher than it was before Trump shocked financial markets with his wide-ranging tariff announcement on what he called “Liberation Day.” read more