Author

admin

Browsing

President Donald Trump delivered a resounding endorsement of NATO this week, marking a sharp turnaround in his years-long, often contentious relationship with the alliance.

Once known for blasting allies over defense spending and even threatening to pull out of NATO altogether, Trump now appears to have had a change of heart. 

‘I left here differently. I left here saying that these people really love their countries,’ Trump said after the 2025 NATO summit in The Hague.

The pivot comes as NATO nations more than doubled their collective defense spending target – raising the bar from 2% to 5% of GDP.

From Hostile Rhetoric to Royal Receptions

The president’s renewed embrace of the alliance follows years of friction, high-profile clashes with world leaders and controversial comments. Yet at this year’s summit, the tone was strikingly different.

Trump was welcomed by Dutch royals, praised by the NATO secretary-general – who even referred to him as ‘daddy’ – and returned home lauding European allies for their patriotism. ‘It’s not a rip-off, and we’re here to help them,’ Trump told reporters.

The transformation is as dramatic as it is unexpected.

The Iran Factor: Military Action with Global Impact

Trump arrived at the NATO summit on a high note, following U.S. strikes that crippled Iran’s nuclear infrastructure. According to American and allied intelligence sources, the operation set back Tehran’s nuclear ambitions by several years.

The strike was widely seen as both a show of strength and a strategic warning – not just to Iran but to NATO adversaries like Russia and China.

‘He really came in from this power move,’ said Giedrimas Jeglinskas, a former NATO official and current chairman of Lithuania’s national security committee.

‘Among some, definitely Eastern Europe, Central Europe, Nordic Europe, this attack, the use of those really sophisticated weapons and bombers, was the rebuilding of the deterrence narrative of the West, not just of America.’

Timeline: Trump’s Rocky Road with NATO

2016 Campaign Trail

Trump repeatedly called NATO ‘obsolete,’ questioning its relevance and slamming allies for failing to pay their ‘fair share.’

‘It’s costing us too much money… We’re paying disproportionately. It’s too much,’ he said in March 2016.

He criticized NATO for lacking focus on terrorism, later taking credit when it created a chief intelligence post.

February 2017 – Early Presidency

Trump softened his tone after becoming president. 

‘We strongly support NATO,’ he said after visiting Central Command. ‘We only ask that all members make their full and proper financial contribution.’

He continued to push for members to meet the 2% target by 2024.

2018 Brussels Summit

Trump privately threatened to pull the U.S. from NATO unless allies increased spending.

‘Now we are in World War III protecting a country that wasn’t paying its bills,’ he warned.

Despite the posturing, he called NATO a ‘fine-tuned machine’ after extracting new spending commitments. He also accused Germany of being a ‘captive of Russia’ over the Nord Stream 2 pipeline.

2019 London Summit

The drama continued, this time with French President Emmanuel Macron calling NATO ‘brain-dead.’ 

‘NATO serves a great purpose. I think that’s very insulting,’ Trump responded.

He also clashed with Canadian Prime Minister Justin Trudeau – calling him ‘two-faced’ after Trudeau was caught mocking Trump on camera.

2020 – Troop Withdrawal from Germany

Trump ordered 12,000 U.S. troops out of Germany, citing Berlin’s defense shortfalls.

February 2024 – Russia Controversy

Trump ignited backlash after suggesting he’d let Russia ‘do whatever the hell they want’ to NATO countries that failed to meet spending obligations.

The remark sparked urgent contingency talks among European leaders about the future of the alliance if the U.S. did not step up to its defense. 

June 2025: A Different Trump, a Different NATO

The 2025 summit in The Hague unfolded with surprising calm. Trump’s hosts rolled out the red carpet. ‘He’s the man of the hour and the most important man in the world,’ Jeglinskas said.

Jeglinskas credited Trump’s blunt diplomacy – however unorthodox – for helping drive real reform ‘He’s brought in tectonic change to the alliance’s capabilities by… being himself,’ he added. ‘It’s a gift for the alliance.’

Two Forces Behind NATO’s Revival: Russia and Trump

Experts agree NATO’s recent revitalization stems from two major catalysts: Russia’s 2022 invasion of Ukraine and Trump’s relentless pressure on allies to boost defense.

President Trump is riding high this week with two major foreign policy victories,’ said Matthew Kroenig, vice president at the Atlantic Council’s Scowcroft Center, referencing NATO and the recent U.S. strikes on Iran’s nuclear program. ‘It’s terrific. I hope he can keep it up.’

He added, ‘Every president since Eisenhower has complained that NATO allies aren’t doing their fair share.’

Now, Trump was the one who finally got them to listen, he said. 

This post appeared first on FOX NEWS

Asian markets traded mixed on Friday as investors remained on edge over reports of a possible extension of Donald Trump’s July 9 tariff deadline.

The market sentiment remained in a wait-and-watch mode ahead of the United States releasing its Consumption Expenditures (PCE) Price Index data, which can shape the future moves of the US Federal Reserve.

The benchmark indices saw a healthy rally in Japan and India, while investors in Hong Kong, South Korea, and China treaded with caution.

The market response was also shaped by the reports that the US and China have finalized a trade framework aimed at facilitating rare earth exports and loosening certain tech restrictions.

A spokesperson for the ministry said China will review and approve export applications for items under its export control rules, while the US has agreed to roll back several existing restrictions on Beijing.

Japan’s Nikkei 225 hits 6-month high

Japan’s Nikkei ended Friday at a six-month high, lifted by strong gains in tech stocks following a solid performance on Wall Street overnight.

The Nikkei climbed 1.43% to close at 40,150.79, its highest since December 27. It also logged a 4.6% weekly gain, marking its best week since late September 2024.

Meanwhile, the broader Topix index added 1.28% to finish at 2,840.54, rising 2.5% over the week.

Hong Kong’s Hang Seng index slipped 0.2% to finish at 24,284 on Friday, extending its losses for a second straight session despite a brief uptick earlier in the day.

Investor sentiment turned cautious after China’s industrial output dropped 9.1% year-on-year in May, pulling year-to-date figures down by 1.1% amid growing concerns over deflation.

KOSPI dips amid foreign investors’ pullout

South Korea’s KOSPI index declined for a second straight session, closing around the 3,050 mark.

The drop was largely driven by heavy selling from foreign investors, often seen as key market movers.

The index is still maintaining the crucial 3,000 above level as at the closing bell, the KOSPI closed at 3,055.94, 0.77% lower.

Chinese stocks dipped slightly on Friday but still notched their best weekly performance in nearly two months, boosted by gains in financials and improved sentiment following a ceasefire between Israel and Iran.

The CSI 300 index slipped 0.6%, while the Shanghai Composite fell 0.7%.

Sensex, Nifty rally to 2025 high

The momentum remained strong in the Indian stock markets as the benchmark indices saw a sharp climb this week and are trading around their 2025 high.

Since plunging to a one-month low of 24,473 on June 13, the Nifty 50 has rebounded sharply, adding 1,076 points to touch 25,637.8, its highest level so far in 2025.

The Sensex has followed a similar trajectory, rallying 3,505 points from its June 13 low to hit a new 2025 high of 84,058.9 on Friday.

The post Asian markets close mixed amid lingering trade tensions; Nikkei hits 6-month high appeared first on Invezz

Shares of Nike surged as much as 10% in premarket trading on Friday after the company offered a more optimistic first-quarter revenue forecast and outlined strategic measures to reduce its dependence on Chinese manufacturing.

The moves, aimed at countering the impact of tariffs and rebuilding wholesale partnerships, sparked investor optimism that the world’s largest sneaker brand may be turning a corner after a prolonged slump.

The rally in Nike’s stock also lifted British sportswear JD Sports, a key retail partner, whose shares climbed 7.2% to 87.6 pence.

Nike forecasts milder revenue dip after steep Q4 decline

Nike now expects its revenue in the first quarter to decline in the mid-single-digit percentage range, slightly outperforming consensus estimates that projected a 7.3% drop.

This marks an improvement from the company’s fourth-quarter performance, during which sales dropped 12% year-on-year to $11.1 billion.

That figure, however, came in ahead of analysts’ expectations of $10.72 billion.

Earnings per share in the latest quarter were 14 cents, beating the Wall Street consensus of 12 cents, though significantly lower than the $1.01 posted in the same period last year.

The decline reflects Nike’s ongoing efforts to aggressively discount products to clear out excess inventory and make room for new merchandise.

CEO Elliott Hill, who took the reins earlier this year, has signaled a reset for the company with renewed focus on performance innovation, supply chain resilience, and rebuilding relationships with wholesale partners.

The company is also increasing marketing spend to drive demand, particularly in running, basketball, and lifestyle categories.

However, these investments have weighed on margins.

Gross margin in the fourth quarter fell 440 basis points to 40.3%, with the company attributing the decline to deeper discounts and an unfavorable shift in channel mix.

Still, management emphasized that these moves were necessary to reset the business and prepare for a more streamlined product pipeline.

Tariff costs of $1 bn expected; Nike seeks to reduce exposure to China

Tariffs remain a significant headwind for Nike and the company expects the levies will result in a cost increase of about $1 billion over the coming year, pressuring gross margins by about 75 basis points.

The brunt of the impact would be felt in the first half of the fiscal year. To mitigate the fallout, Nike is accelerating efforts to reduce its exposure to China.

Currently, about 16% of its US footwear imports originate from China. That figure is expected to drop to the high single digits by the end of fiscal 2026.

“We expect this to reduce to the high single-digit range by the end of fiscal 2026,” Hill said, adding that China will still remain a key part of the company’s global supply chain.

The company plans to shift more production to countries like Vietnam and Indonesia while also implementing price increases where feasible.

While many global footwear brands still depend on Asia for manufacturing, Nike’s scale and global reach may give it an advantage in managing supply chain transitions.

Analysts say that the company’s proactive approach positions it better than some competitors facing similar challenges.

Recovery depends on wholesale reboot and brand reinvigoration

Beyond manufacturing, Nike is working to repair ties with wholesale partners that were severed under former CEO John Donahoe, whose direct-to-consumer push alienated key retailers like Macy’s and DSW.

The company is now re-engaging with these players while forging new partnerships, including with Amazon.

CEO Hill said early demand signals were encouraging, particularly in the performance segment, and that wholesalers were placing more orders ahead of the holiday season.

“We’re organising into a sport offence to have deeper relationships with the athletes we serve, to gain better insights, to drive sport-specific innovation, tell inspiring stories and differentiate ourselves in the marketplace,” he told analysts.

Despite the improving outlook, Hill cautioned that a full recovery would take time.

Nike still faces fierce competition from rising athletic brands such as On Holding and Deckers’ Hoka, which have gained ground as Nike focused on cutting costs and recalibrating its strategy.

Analyst consensus: company stabilising; V-shaped recovery by FY27

11 brokerages increased their price targets post the earnings.

JP Morgan (“Neutral” with a PT of $64) noted that Nike’s solid results in its core sports categories were a positive sign amid broader concerns about US consumer trends.

Barclays (“Equal Weight,” PT: $64) said the company is facing near-term pressure from excess inventory and restructuring, but sees early signs of recovery through improving wholesale demand and strategic execution

Evercore ISI (“Outperform,” PT: $90) said the company is managing expectations by highlighting key challenges ahead: digital traffic is set to decline sharply, retro product demand will remain a drag, and China sales are expected to be negative.

Morgan Stanley (“Equal Weight,” PT: $64) said the company is stabilizing with modest estimate upgrades driven by strategic shifts, but long-term growth and margin concerns linger amid weak digital sales and intensifying competition

Jefferies analyst Randal Konik said the company is positioned for a “V-shaped recovery” by fiscal 2027. “As competitive pressures ease, execution improves, and with easier comps ahead, we continue to Just Buy It,” he wrote in a research note.

The post Nike shares jump on improved outlook, shift from China; analysts see recovery appeared first on Invezz

Dow Futures soared 130 points on Friday as the bulls on Wall Street look forward to pushing the benchmark indices to a new record.

The futures of other indices like the S&P 500 and Nasdaq Composite were also trading in green today, indicating that the tech momentum is far from over and Wall Street may see some serious action on Friday.

The investors will take note of the recent announcements by the Trump administration around the completion of a trade deal with China.

Without going into the specifics, Commerce Secretary Howard Lutnick said that the deal with China was “signed and sealed” earlier this week.

US President Donald Trump spoke about the deal at a White House event and said:

“We just signed (trade deal) with China. We are not going to make deals with everybody. But we’re having some great deals. We have one coming up, maybe with India, a very big one.”

Dow Futures indicate bullish momentum

The rally in Dow Futures came as the S&P 500 index briefly touched a new record on Thursday with Dow Jones Industrial Average and Nasdaq Composite index also looking to post some new highs.

The dominance of tech stock continued on Wall Street as Cyngn shares rallied over 300% on Thursday after its collaboration with chipmaker Nvidia.

Other tech players like Nvidia, AMD, Super Micro Computer (SMCI), etc. are posting record gains and closing higher in back-to-back sessions.

The market participants, however, also kept a close eye on Donald Trump’s rising disagreements with the US Fed chief and his recent remarks about finding his replacement.

S&P 500 stages impressive comeback

Despite still trailing the MSCI All-Country Index and falling about 20% behind euro zone stocks in dollar terms for 2025, the S&P 500 has staged an impressive comeback.

The index nearly completed a 20% rebound from its February highs through the April lows and back again.

Meanwhile, Wall Street’s so-called “fear gauge,” the VIX, dropped to a four-month low, signaling calmer investor sentiment. Gold also lost ground, slipping to its lowest price in nearly a month.

Adding fuel to the market’s rally, the US dollar continued to weaken, hitting a three-year low this week.

That decline offers a major boost for American multinationals, with over 40% of S&P 500 revenues generated overseas, effectively giving them a currency tailwind of more than 10% this year.

As of Friday, the dollar hovered close to its lowest level of 2025.

As investors looked ahead to the upcoming US inflation report for May, due later on Friday, oil prices largely shrugged off renewed tensions in the Middle East, continuing a nearly 20% decline from the same time last year.

At the same time, yields on both two- and ten-year Treasury notes dropped to their lowest levels since early May on Thursday.

The post Dow Futures soar as Wall Street bulls charge toward record highs appeared first on Invezz

Netflix shares have soared more than 47% in 2025, outperforming the broader market and leaving rival entertainment stocks trailing.

Yet Morningstar analyst Matthew Dolgin remains one of the few skeptics on Wall Street, warning that the stock is still significantly overvalued.

In a note published late Thursday, Dolgin raised his fair value estimate on Netflix to $750 from $720.

But with the stock currently trading just under $1,307, his revised target still implies a sharp 43% downside.

While the move suggests a slightly more constructive stance, Dolgin emphasized that Netflix’s growth ambitions remain too aggressive to justify its current price.

Trillion-dollar dreams face skepticism

At an internal meeting earlier this year, Netflix executives laid out plans to double revenue from $39 billion to nearly $80 billion by 2030 and generate $9 billion in global ad sales, according to reports.

The company is also aiming for a $1 trillion market valuation by the end of the decade.

Dolgin, however, argued that such targets should not be treated as a base-case forecast.

“Those targets will be very difficult to achieve and should not constitute a base-case forecast,” he wrote, adding that the company’s password-sharing crackdown is no longer a significant driver of growth.

He also questioned the sustainability of price hikes in domestic and overseas markets.

Even if Netflix hits its 2030 financial goals, Dolgin estimates the stock would be fairly valued at $1,225 — equating to a market capitalization of around $521 billion, well below the $1 trillion milestone the company hopes to reach.

The bull case for Netflix

Despite Dolgin’s concerns, Wall Street sentiment on Netflix remains bullish.

Analysts at Wells Fargo and Pivotal Research have raised their price targets to $1,500 and $1,600, respectively.

Pivotal Research Group analyst Jeffrey Wlodarczak reaffirmed his bullish stance on the stock last week, raising his price target from $1,350 to a Street-high $1,600.

He cited growing confidence in Netflix’s leadership in the subscription streaming market.

“Our positive Netflix investment view remains unchanged,” he said in a client note.

“Netflix remains underpenetrated globally, offers an extremely compelling price-to-entertainment value (that is continually improving) boosted by their ad-supported offering.”

He expects strong subscriber additions and rising revenue per user, driven by strategic price increases and continued momentum in the company’s advertising segment.

Anders Bylund of The Motley Fool argues that while Netflix may appear pricey at first glance—with valuation multiples of 60 times trailing earnings and 13.6 times sales—the company is delivering where it matters most: the bottom line.

He points out that Netflix’s trailing twelve-month earnings have nearly doubled over the past three years, while free cash flow has surged from breakeven levels to $7.4 billion.

Netflix has returned 175% over the past five years, far outpacing the S&P 500’s 97.4% gain.

Much of this growth is supported by steady user expansion. The company’s global streaming paid memberships grew by 13.5% annually over the last two years, reaching 305.6 million subscribers in the most recent quarter.

The post Morningstar lifts Netflix target but warns shares remain overvalued appeared first on Invezz

Shares of tech giant Alphabet (GOOGL) are anticipated to climb in the coming months, buoyed by the accelerating integration of artificial intelligence into its core offerings. 

This optimistic outlook comes from investment firm Citizens, which recently upgraded the “Magnificent Seven” member to “market outperform” from “market perform,” setting an ambitious price target of $220. 

This target suggests a substantial upside of nearly 27% from Thursday’s closing price.

The AI advantage in search

At the heart of this bullish sentiment is the conviction that AI represents a significant net tailwind for Alphabet, particularly within its dominant search business. 

Andrew Boone, an analyst at Citizens, highlighted this in a recent note, asserting that “ChatGPT’s impact too small today to move enough queries away from Google to materially impact results.” 

Instead, Boone argues that AI is actively expanding the search opportunity, enabling Google to address a wider array of queries and enhance monetization by better inferring user intent.

A key driver of this expansion is Google’s “AI Overviews” feature, which provides concise, AI-generated summaries at the top of search results. 

This feature, which became available in the US in May, has already demonstrated its potential by leading to a 10% query growth in testing. 

Boone projects a rapid escalation in its adoption, forecasting that AI Overviews will reach 4 billion monthly users by the third quarter of this year, a significant jump from 1.5 billion monthly users in the first quarter. 

Furthermore, he expects this feature to cover approximately two-thirds of all search queries by the next quarter. 

According to Boone, “AI is growing the use of search at a faster rate than ChatGPT is taking share.”

Financial projections and market reaction

The positive impact of AI is expected to translate directly into Alphabet’s financial performance. 

The Citizens analyst anticipates an acceleration in Search revenue growth in the second quarter, attributing this to the dual benefits of AI-supported query expansion and ongoing advancements in Google’s advertising products.

Despite its robust long-term prospects, Alphabet’s stock has experienced a challenging start to the year, declining by over 8%. 

However, the tide appears to be turning, with the stock rebounding about 6% over the past three months. 

More notably, it has surged over 4% in just the past week, a rally mirroring broader investor confidence in the AI sector, which has also propelled other industry leaders like Nvidia to new highs.

Wall Street’s bullish outlook

The positive assessment from Citizens is largely consistent with the broader sentiment across Wall Street.

A significant majority of analysts maintain a bullish stance on Alphabet. 

Out of 55 analysts covering the stock, 43 have issued either “strong buy” or “buy” ratings, underscoring widespread optimism regarding the company’s future. 

The consensus target price among these analysts stands at nearly $202, which itself implies more than 16% upside from current levels.

In conclusion, as artificial intelligence continues to reshape the technological landscape, Alphabet appears well-positioned to leverage its AI advancements, particularly within its dominant search ecosystem, to drive both user engagement and financial growth, making it a compelling prospect for investors.

The post AI surge poised to propel alphabet shares higher, this analyst says appeared first on Invezz

Following the uncovering of a massive bribery scandal at USAID, the Small Business Administration (SBA) is ordering a full audit of all government contracting officers who have exercised grant-awarding authority under the agency’s business development program over the last 15 years.

In a letter obtained by Fox News Digital, SBA Administrator Kelly Loeffler said the scale of the USAID fraud is a ‘damning reflection of systemic failures in oversight and accountability.’ She further said that the fraud ‘was not an isolated incident.’

In response, Loeffler instructed Associate Administrator Tre Pennie, who oversees government contracts awarded by SBA, to ‘act decisively’ to crack down on any potential similar abuses in the agency.

Loeffler instructed Pennie to immediately initiate a full-scale audit of the agency’s awarding officers back to 2010.

‘The role of federal government contracting officers is not ceremonial or self-dealing; rather, it is a position of immense authority and fiduciary responsibility,’ said Loeffler. ‘The contracting process must be transparent and built on merit, not personal gain.’

This comes after USAID, an agency tasked with administering civilian foreign aid, was essentially dismantled by the DOGE waste, fraud and abuse cuts made under Elon Musk and President Donald Trump. The move was met with massive protests from Democrats who claimed that cutting USAID would impoverish and harm recipients across the globe.

Despite claims of how much good the agency was doing, it was recently discovered that an influential contracting officer at USAID named Roderick Watson was able to carry out a massive, long-term bribery scheme dating all the way back to 2013.

Watson, 57, pleaded guilty to ‘bribery of a public official,’ according to a DOJ press release.

According to the DOJ, Watson sold his influence starting in 2013, with contractors Walter Barnes, owner of Vistant, and Darryl Britt, owner of Apprio, funneling payoffs through subcontractor Paul Young to hide their tracks. 

A DOJ press release said that Britt and Barnes ‘regularly funneled bribes to Watson, including cash, laptops, thousands of dollars in tickets to a suite at an NBA game, a country club wedding, downpayments on two residential mortgages, cellular phones, and jobs for relatives. The bribes were also often concealed through electronic bank transfers falsely listing Watson on payroll, incorporated shell companies, and false invoices.’

The statement said that Watson is alleged to have received bribes ‘valued at more than approximately $1 million as part of the scheme.’

Vistant was awarded in November 2023, as part of a joint venture, a contract worth up to $800 million with one of the focuses of that contract being to address ‘a variety of issues affecting the root causes of irregular migration from Central America to the United States,’ an issue that President Joe Biden tasked then-Vice President Kamala Harris with during his presidency.

Several days later, that contract was canceled after USAID published a notice that said Vistant was excluded from government contracting due to ‘evidence of conduct of a lack of business honesty or integrity.’

The joint venture then successfully sued the government over being put on that exclusion list and was re-awarded the contract and given a $10,000 payment in August 2024. 

In her letter, Loeffler said the USAID scandal ‘represents a collapse in the very safeguards that are supposed to protect American taxpayer dollars and ensure fair access for legitimate small businesses.’

She slammed the Biden administration for awarding the $800 million contract to Vistant despite the business being labeled by USAID as lacking ‘honesty and integrity.’

‘The fact that a federal official was able to act as the linchpin of a persistent, large-scale fraud operation speaks to a failure in internal controls and a breakdown in the contracting environment that demands immediate correction,’ said Loeffler.

She said that SBA plays a ‘critical role’ in federal contracting and ‘will no longer stand by while abuses are perpetrated at the expense of taxpayers and deserving small businesses.’

Loeffler said the agency’s audit will begin with high-dollar and limited competition contracts within SBA’s 8(a) business development program. The findings will be referred to the U.S. Office of Inspector General (OIG) and the DOJ.

Any officials or businesses found in violation of the SBA’s ethical standards or who have committed criminal misconduct will be referred to the appropriate authorities and SBA will assist the DOJ in recovering misappropriated funds, Loeffler said.

‘We will not allow public trust to be quietly eroded by backdoor deals and unchecked discretion,’ said Loeffler.

‘We owe it to America’s small businesses to get this right,’ she went on. ‘Your office has the authority, and now the mandate, to act decisively.’ 

This post appeared first on FOX NEWS

Those who leaked a preliminary assessment — rejected by the White House — on the U.S. strikes on Iranian nuclear facilities will face justice for sharing the document, according to White House Press Secretary Karoline Leavitt. 

President Donald Trump and multiple leaders are saying that the strikes destroyed three Iranian nuclear sites.  

A leaked report from the Defense Intelligence Agency, published by CNN and the New York Times, cast doubt on that though, saying that the strikes only set back Iran’s nuclear program by several months. CNN first reported the assessment’s findings, citing seven people who were briefed on the report. The outlet reported the findings were based on a battle damage assessment from U.S. Central Command. 

Leavitt pushed back on the early assessment’s credibility, claiming the report was ‘flat-out wrong.’ 

‘Everyone knows what happens when you drop 14 30,000-pound bombs perfectly on their targets: total obliteration,’ Leavitt said in a Tuesday statement. 

Secretary of Defense Pete Hegseth said Wednesday that the FBI is conducting an investigation to get to the bottom of the matter and who shared the document with the media. 

Additionally, Leavitt told reporters that leaking classified information is a criminal offense and that those who fail to follow the law ‘need to be held accountable for that crime.’ 

‘This administration wants to ensure that classified intelligence is not ending up in irresponsible hands, and that people who have the privilege of viewing this top secret classified information are being responsible with it,’ Leavitt told reporters Thursday. 

‘Clearly, someone who had their hands on this and it was a very few people, very few number of people in our government who saw this report,’ Leavitt said. ‘That person was irresponsible with it. And we need to get to the bottom of it. And we need to strengthen that process to protect our national security and protect the American public.’ 

Meanwhile, the U.S., Israel and Iran’s Foreign Ministry have all said that the three nuclear sites U.S. forces struck have encountered massive damage. 

Iran’s Foreign Ministry spokesman Ismail Baghaei told Al Jazeera Wednesday that the country’s nuclear facilities were ‘badly damaged,’ and Israel’s Atomic Energy Commission said the U.S. strikes were ‘devastating.’

On Sunday, Chairman of the Joint Chiefs of Staff Gen. Dan Caine said that initial battle damage assessments suggest ‘all three sites sustained extremely severe damage and destruction.’

Trump issued a word of caution to Iran Wednesday, should it attempt to repair its nuclear program once more, and said the U.S. wouldn’t hesitate to launch another strike against Iran. 

Trump personally called for the firing of one of the reporters who authored the story about the initial assessment, claiming in a Wednesday Truth Social post that the reporter should be ‘IMMEDIATELY reprimanded, and then thrown out ‘like a dog.’’

Even so, CNN came to the defense of the reporter, Natasha Bertrand. 

‘We stand 100% behind Natasha Bertrand’s journalism and specifically her and her colleagues’ reporting of the early intelligence assessment of the U.S. attack on Iran’s nuclear facilities,’ CNN said in a Wednesday statement. ‘CNN’s reporting made clear that this was an initial finding that could change with additional intelligence. We have extensively covered President Trump’s own deep skepticism about it.’

Fox News’ Brooke Singman contributed to this report. 

This post appeared first on FOX NEWS

President Donald Trump recognized a third-generation autoworker from Michigan Thursday while speaking at the ‘big, beautiful event,’ noting he was a lifelong Democrat who now supports the president because of vehicle loan interest tax benefits.

The president spoke about the ‘big, beautiful bill’ from the East Room of the White House with a group of people standing behind him who represented various trades, including food delivery, farmers and automotive workers.

One of the workers standing behind Trump was James Benson, a third-generation autoworker from Belleville, Michigan, who has been with Ford Motor Company for 26 years.

Trump introduced Benson, noting that Ford has ‘a lot of plants’ in the U.S.

‘If you have plants in this country, you’re going to make a lot of money,’ the president said, adding that he loves autoworkers.

Trump also said Benson was a lifelong Democrat until 2017, when he saw the benefits of the tax laws.

Trump then spoke about his latest plan to benefit car owners by making interest on car payments fully tax-deductible.

But the deduction would only be for cars made in the U.S., Trump said, adding if it was made someplace else, ‘we don’t care.’

Trump’s ‘big, beautiful bill’ would create a new deduction of up to $10,000 for qualified passenger vehicle loan interest in a given taxable year. The deduction would phase out when a taxpayer’s modified adjusted gross income exceeds $100,000.

Applicable passenger vehicles include cars, trucks, vans, SUVs and motorcycles that have been manufactured for use on public streets, roads and freeways and for which the final assembly occurs in the U.S.

The bill defines the final assembly as the process by which the manufacturer produces a vehicle and delivers it to a dealer with all the parts necessary for operation.

As is the case with the overtime and tips deductions, the auto loan provision would be in effect for tax years 2025 through 2028.

Trump reiterated to those in attendance that the tax benefit is only for vehicles made in the U.S.

‘Remember that, James. We’re going to keep those Michigan auto factories roaring,’ the president said.

FOX Business’ Eric Revell contributed to this report.

This post appeared first on FOX NEWS

A group of House Republicans is demanding to know how the U.S. is ready to protect its own domestic assets in the event of a potential attack on the homeland.

‘We write to inquire with the U.S. Department of Defense (DOD) and the Department of Homeland Security (DHS) about the current state of drone attack countermeasures for our military installations, government buildings, embassies, and consulates, both domestic and abroad,’ the GOP lawmakers wrote in a letter.

‘The ongoing conflicts in Ukraine and the Middle East have demonstrated that large-scale, highly coordinated mass-drone attacks can be highly effective if the defender lacks adequate counter-drone defenses.’

The letter was sent late Thursday, days after Israel and Iran declared a ceasefire following days of escalating attacks within one another’s borders.

Just before President Donald Trump announced a ceasefire, the Department of Homeland Security (DHS) warned the Middle East conflict was ‘causing a heightened threat environment in the United States.’

House lawmakers will be briefed behind closed doors on the situation with Iran at 9 a.m. Friday.

‘Since 9/11, our nation has not suffered a major coordinated attack on our own soil. While the government has done good work in preventing an attack like 9/11 from happening again, we want to ensure that we are preparing for a new paradigm in which relatively cheap drones can quickly and effectively wipe out core military and government infrastructure,’ the lawmakers wrote Thursday.

‘While American threat projection globally is strong among all the branches of the military, we need to be prepared for a new paradigm of covert, but potentially disastrous, threats to our core military interests, including our nuclear triad in the homeland.’

The letter is led by Rep. Mike Carey, R-Ohio.

The lawmakers are asking Defense Secretary Pete Hegseth and Homeland Security Secretary Kristi Noem if counter-drone technology is being factored into Trump’s plans for a Golden Dome defense system in the U.S.

They’ve also asked whether there is ‘a concern of any sort of weaponized drone buildup already happening in the United States from drones that may have been smuggled in due to the former administration’s open border policies.’

Noem and Hegseth were also questioned on whether they are ‘aware of or actively working to deter potential threats posed by foreign-owned land near critical military and infrastructure sites in the United States that could be a launching point for a mass drone attack like we saw in Russia by Ukrainian forces.’

Fox News Digital reached out to the Pentagon and DHS for comment.

This post appeared first on FOX NEWS