CARACAS, Venezuela (AP) — Venezuela’s acting President Delcy Rodríguez has signed a law that will open the nation’s oil sector to privatization. The move reverses a tenet of the self-proclaimed socialist movement that has ruled the country for more than two decades. Lawmakers in the country’s National Assembly approved the overhaul earlier in the day, less than a month after the brazen seizure of then-President Nicolás Maduro in a U.S. military attack in Venezuela’s capital. As the bill was being passed, the U.S. Treasury Department officially began to ease sanctions on Venezuelan oil that once crippled the industry. The moves by both governments are paving the way for yet another radical geopolitical and economic shift in Venezuela.
Trump threatens tariffs on any country selling oil to Cuba, backing Mexico into a corner
WASHINGTON (AP) — President Donald Trump has signed an executive order that would impose a tariff on any goods from countries that sell or provide oil to Cuba, a move that puts pressure on Mexico. Mexican President Claudia Sheinbaum says her government had at least temporarily stopped oil shipments to Cuba. She says it was a “sovereign decision” not made under pressure from the U.S. Trump has squeezed Mexico to distance itself from the Cuban government. In the wake of the U.S. military operation to oust former Venezuelan President Nicolás Maduro, Trump has said the Cuban government is ready to fall.
PANAMA CITY (AP) — Panama’s Supreme Court has ruled that the concession held by a subsidiary of Hong Kong’s CK Hutchison Holdings to operate ports at either end of the Panama Canal was unconstitutional, an outcome that advances a U.S. aim to block any influence by China over the strategic waterway. The court’s ruling late Thursday followed an audit by Panama’s comptroller, which alleged irregularities in the 25-year extension of the concession granted in 2021. The Trump administration made blocking China’s influence over the Panama Canal one of its priorities in the hemisphere. Panama was U.S. Secretary of State Marco Rubio’s first overseas stop as the United States’ top diplomat.
Trump threatens Canada with 50% tariff on aircraft sold in US, expanding trade war
WASHINGTON (AP) — President Donald Trump is threatening Canada with a 50% tariff on any aircraft sold in the U.S., the latest salvo in his trade war with America’s northern neighbor as his feud with Prime Minister Mark Carney expands. Trump said Thursday he was retaliating against Canada for refusing to certify jets from Savannah, Georgia-based Gulfstream Aerospace. Trump said the U.S., in return, would decertify all Canadian aircraft, including its Bombardier. Trump had threatened over the weekend to impose a 100% tariff on goods imported from Canada if it went forward with a planned trade deal with China. But Trump’s threat did not come with any details.
Trump sues IRS and Treasury for $10 billion over leaked tax info
WASHINGTON (AP) — President Donald Trump is suing the IRS and Treasury Department for $10 billion. He accuses them of failing to prevent a leak of his tax information to news outlets. The lawsuit was filed in a Florida federal court on Thursday. In 2024, former IRS contractor Charles Edward Littlejohn was sentenced to five years in prison for leaking tax information about Trump and others. Earlier this week, the U.S. Treasury Department cut its contracts with Booz Allen Hamilton, where Littlejohn worked. He was charged and imprisoned for leaking tax information about thousands of wealthy individuals, including Trump.
Trump says he will announce his Federal Reserve chair nominee on Friday morning
WASHINGTON (AP) — President Donald Trump said he plans to announce his choice for Federal Reserve chairman on Friday morning. Trump has criticized current Fed Chair Jerome Powell for not cutting interest rates more aggressively. Trump is believed to have four finalists for the position, but did not give details on Thursday. Tensions have been high between Trump and the Fed, with Powell emphasizing the importance of independent judgment and accountability to Congress. Powell’s term ends in May, but he could remain on the board until 2028.
Former First Brands CEO Patrick James and his brother are indicted for bilking billions from banks
Patrick James, the former CEO of bankrupt auto parts supplier First Brands Group, was indicted on federal fraud charges and arrested Thursday in Ohio with his brother Edward, a former senior executive with the company, the government said. The indictment from the U.S. Attorney’s Office in the Southern District of New York said the James brothers “perpetrated a yearslong fraud” to obtains billions of dollars for First Brands — and millions for themselves — by duping investors and banks with fake documents and false financial reports. In its September bankruptcy filing, First Brands said it had more than $9 billion in debt and only $12 million in cash.
Here’s when you’ll get your tax refund from the IRS
NEW YORK (AP) — Tax season is underway, and the IRS expects 164 million people will file returns by April 15. If you file electronically, the IRS says it should take 21 days or less to receive your refund. If you choose to receive your refund with direct deposit, it should take even less time. When filing a paper return, the refund could take four weeks or more, and if your return requires amendments or corrections, it could take longer. The IRS cautions that taxpayers not rely on receiving a refund by a certain date, especially when making major purchases or paying bills.
Apple’s iPhone sales surge to new quarterly high despite early missteps in artificial intelligence
Apple’s iPhone sales soared to a new quarterly record during the holiday season, despite artificial intelligence blunders that prompted the technology trendsetter to get a helping hand from Google. The October-December results announced Thursday reflect the allegiance of Apple’s fans, who eagerly snapped up the latest iPhone 17 models even though the company still hasn’t delivered on its 2024 promise to smarten up the device’s Siri assistance with an AI infusion. Even without all the latest in AI, Apple’s iPhone sales surged 23% from the prior year to $85.3 billion — the most for any three-month period ever. Apple’s shares edged up slightly after the numbers came out.
Starbucks sees room to expand with hundreds of new US stores and increased seating
NEW YORK (AP) — Starbucks says it plans to open hundreds of new stores across the U.S. and add seating at thousands of existing locations. The company detailed its plans during an investor presentation in New York on Thursday. Executives say they expect up to 175 new U.S. Starbucks cafes to open this year and around 400 in 2028. The company’s plans include smaller-format stores that are cheaper to build but still offer seating, drive-thru service, and mobile order pickup. CEO Brian Niccol has focused on making Starbucks stores more welcoming even as consumer demand for drive-thru coffee grows. He says Starbucks sees an opportunity to build at least 5,000 new cafes across the U.S.…Read more by AP