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Could Trump really return DOGE savings to taxpayers?

WASHINGTON (AP) — An idea first proposed on social media has bubbled up to the White House and received President Donald Trump’s enthusiastic endorsement: Take some of the savings from billionaire Elon Musk’s drive to cut government spending and return it to taxpayers. If Musk’s target of $2 trillion in spending cuts is achieved by next year, supporters of the idea say that about one-fifth of those funds could be distributed to taxpaying households in checks of about $5,000. But before you start planning for a windfall, budget experts say such huge savings — nearly one-third of the federal government’s annual spending — are highly unlikely.

US stocks tumble as companies and consumers worry about tariffs and Washington. Dow falls nearly 750

NEW YORK (AP) — U.S. stocks fell sharply after reports showed that worries among consumers and businesses about President Donald Trump’s policies may be hitting the economy. The S&P 500 sank 1.7% Friday for its worst day in two months. The Dow Jones Industrial Average dropped 1.7%, and the Nasdaq composite tumbled 2.2%. One report suggested U.S. business activity is close to stalling, with optimism slumping because of worries about tariffs and other potential policies from Washington. Reports on consumer sentiment and home sales also came in weaker than expected. Akamai Technologies weighed on the market after giving financial forecasts that fell short of expectations. Treasury yields fell.

January home sales fall as high mortgage rates, prices freeze out would-be buyers

LOS ANGELES (AP) — Sales of previously occupied U.S. homes fell in January as rising mortgage rates and prices put off many would-be homebuyers despite a wider selection of properties on the market. Existing home sales fell 4.9% last month from December to a seasonally adjusted annual rate of 4.08 million units, the National Association of Realtors said Friday. Sales rose 2% compared with January last year, marking the fourth straight annual increase. The latest home sales fell short of the 4.11 million pace economists were expecting, according to FactSet. Home prices increased on an annual basis for the 19th consecutive month. The national median sales price rose 4.8% in January from a year earlier to $396,900.

AP sues 3 Trump administration officials, citing freedom of speech

The Associated Press is suing three Trump administration officials over access to presidential events. It’s citing freedom of speech in asking a federal judge to stop the 10-day blocking of its journalists. The lawsuit was filed in U.S. District Court in Washington, D.C. The AP says its case is about an unconstitutional effort by the White House to control speech — in this case refusing to change its style from the Gulf of Mexico to the “Gulf of America,” as President Donald Trump did last month with an executive order.

Differences bubble up between PepsiCo and Coca-Cola on diversity programs

PepsiCo and rival Coca-Cola are taking different paths on the issue of diversity. In a memo sent to employees and released Friday, PepsiCo CEO Ramon Laguarta said the company is rolling back some of its diversity, equity and inclusion efforts, including setting goals for minority representation in managerial roles. PepsiCo’s chief diversity officer will also transition to a broader role focused on employee engagement and leadership development. PepsiCo’s rollback came as Coca-Cola reaffirmed support for its own diversity efforts in its annual report. Atlanta-based Coke warned that its business could be negatively affected if it is unable to attract employees that reflect its broad range of customers.

Chess grandmaster Magnus Carlsen broke a dress code with jeans. Now he’s selling them for charity

NEW YORK (AP) — Top-ranked chess player Magnus Carlsen is turning his controversial denim into some greens — for charity. The Norwegian chess grandmaster announced that he is auctioning off the Italian luxury brand jeans that started a dress code dispute at December’s World Rapid and Blitz Chess Championships. Carlsen ultimately quit the New York competition after accepting a $200 fine while refusing to change his pants. Chess fanatics and #JeansGate followers now have the chance to own the Size 32 regular fit Corneliani jeans. The auction for Big Brothers Big Sisters of America is scheduled to end March 1. The pants’ highest offer was $8,200 as of the morning of Feb. 21.

Argentina’s crypto scandal dings Milei, involves strange mix of characters

BUENOS AIRES, Argentina (AP) — Argentine President Javier Milei is facing a corruption probe into his promotion of a meme coin, which is a highly speculative form of cryptocurrency that’s seen a recent surge in popularity after President Donald Trump and his wife launched tokens of their own. The budding scandal in Argentina has been dubbed locally as “cryptogate” and has links to a diverse cast of characters, including a high-profile U.S. influencer, a crypto developer who uses the pseudonym “Meow,” and a 28-year-old American entrepreneur who said he helped launch First Lady Melania Trump’s meme coin last month.

EU official meets with Trump counterparts to resolve tariff threats

WASHINGTON (AP) — A top European Union official, who is trying to head off a potential trade conflict, stressed the importance of active engagement and fairness in trade during a four-hour meeting with Trump administration officials on Wednesday. President Donald Trump has thrown the decades long partnership between the U.S. and Europe into turmoil by pledging to charge higher taxes on imports from Europe that he says would match the tariffs faced by American products. Trump’s plan for fair tariffs would also include the value added tax — which is akin to a sales tax — charged in Europe that could drastically push up import taxes and potentially trigger a broader trade conflict if the EU imposed retaliatory measures.

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