The Trump administration said Wednesday it is eliminating more than 90% of the U.S. Agency for International Development’s foreign aid contracts and $60 billion in overall U.S. assistance around the world,

(Reuters) - President Donald Trump's administration said in a court filing late Tuesday night that it "cannot" meet a federal judge's 11:59 p.m. Wednesday deadline for releasing frozen funds to foreign aid contractors and grant recipients, potentially setting the stage for it to disobey a court order.

Nearly $2 billion in foreign aid has been suspended despite a lower court’s order, and the administration faced a midnight deadline for disbursing it.

U.S. health officials are reevaluating a $590 million contract that was awarded to Moderna for the development of its bird flu vaccine, Bloomberg News reported on Wednesday, citing sources.

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world America is in the midst of a record-breaking bird flu outbreak that’s affected dozens of cattle herds along with poultry flocks nationwide.

The U.S. Agriculture Department predicts record egg prices could soar more than 40% in 2025, as the Trump administration offered the first new details Wednesday about its plan to battle bird flu and ease costs.

Trump is now convening with his Cabinet for the first time in his second term. Seated next to Trump are Secretary of State Marco Rubio and Defense Secretary Pete Hegseth. In the r

At the first meeting of Trump's cabinet, Musk said he aims to cut the $6.7 trillion budget by $1 trillion this year, an ambitious target that could entail significant disruption of government programs.

U.S. President Donald Trump's administration on Wednesday ordered federal agencies to undertake more large-scale layoffs of workers, while the president let downsizing czar Elon Musk take a star role at his first cabinet meeting and discuss his ambitious budget-cutting targets.