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  • Meat Giant JBS Eyes Deeper Pockets as It Starts New York Trading The JBS Greeley meatpacking facility in Greeley, Colorado. JBS NV shares started trading in New York, giving the world’s largest meat producer a market value of about $15 billion as it culminated a years-long effort to reach a broader pool of investors. Shares of the Brazilian company opened at $13.65 apiece on the New York Stock Exchange. On Thursday, Brazilian depository receipts of JBS NV closed at $13.70 per unit in Sao Paulo.
  • Trump’s FAA Pick Vows to Hold Boeing Accountable on Quality Bryan Bedford, administrator of the Federal Aviation Administration (FAA) nominee for US President Donald Trump, during a confirmation hearing in Washington on June 11. President Donald Trump’s nominee to lead the Federal Aviation Administration vowed to hold Boeing Co. accountable for the quality of its jets as the US planemaker works to produce its cash cow 737 Max aircraft at higher rates. If confirmed, airline executive Bryan Bedford will be tasked with making decisions on how to proceed with Boeing, which the FAA is still closely monitoring following a midair mishap last year that exposed quality lapses at the company’s factories.
  • Trump Says He ‘Would’ Arrest Newsom, Heightening Tensions By Hadriana Lowenkron and Tyler Kendall President Donald Trump suggested California Governor Gavin Newsom should be arrested over his handling of unrest in Los Angeles, escalating his attacks on the state’s leaders. Trump on Monday was asked by a reporter about a back-and-forth between Newsom and White House border czar Tom Homan, who threatened arrest for anyone who obstructed immigration enforcement efforts, including the governor and Los Angeles Mayor Karen Bass.
  • Iran Claims Access to Cache of Sensitive Israeli Nuclear Files Iran’s state television said on Saturday the country obtained a large trove of sensitive Israeli nuclear information. The Islamic Republic’s intelligence services have acquired “thousands of files related to that regime’s nuclear projects and facilities,” according to the broadcaster.
  • Trump Signs Order to Boost Drone Security Before World Cup By Allyson Versprille and Hadriana Lowenkron President Donald Trump signed executive orders Friday to boost US drone capabilities, including strengthening counter-drone tools ahead of major sporting events such as the 2026 FIFA World Cup and the 2028 Summer Olympics that will be hosted in the country. “Taking action on airspace security has never been timelier,” Michael Kratsios, the director of White House’s Office of Science and Technology Policy, told reporters Friday, citing the upcoming events that are expected to draw millions of fans to the US. “The administration is cracking down on unlawful drone use, ordering a federal task force to ensure US control over American skies and prioritizing the detection and identification of drones in real time.” The aim of the three orders, according to officials, is to boost US manufacturing and innovation while decreasing reliance on foreign adversaries, such as China, which dominates the commercial drone market. The administration is also seeking to combat malicious actors, particularly following a public outcry last year over increased drone sightings in New Jersey. The recent use of unmanned aerial weapons in Russia’s war on Ukraine, which saw Ukrainian forces launch a daring drone attack within Russia has also drawn attention to the advancements — and threats — the technology poses. One executive order to improve counter-drone capabilities calls for actions including the creation of a federal task force to review current regulatory frameworks and develop solutions to possible threats, according to a senior White House official who discussed the action on condition of anonymity before it was publicly announced. The order also directs the Federal Bureau of Investigation to provide training to state and local authorities, and instructs the US Federal Aviation Administration to expedite a rule that would allow people to petition the agency to prohibit or restrict drone usage near certain facilities, including critical infrastructure, oil refineries, chemical plants and amusement parks, the official said. The proposed regulation is already being reviewed by the White House’s Office of Information and Regulatory Affairs. “Drones are a disruptive technology,” said Sebastian Gorka, deputy assistant to the president. “They have an amazing potential for both good and ill.” A second executive order is intended to promote the US market for new technologies. It directs the FAA to speed up another rule under White House review that would allow companies to fly drones beyond a remote pilot’s direct line of sight without having to obtain individual waivers and exemptions. Companies, such as those using drones to deliver packages, have said the rules will make it easier for them to scale up their businesses and expand to more locations. Officials said the order is also meant to reduce reliance on technology from other countries. While it doesn’t ban any specific companies, such as China’s Da Jiang Innovations — the world leader in commercial drone sales — it does direct the Commerce Department to launch investigations and regulatory reviews to safeguard the US drone supply chain. That could result in a company being placed on a list that would bar new drones from being able to access US networks, one of the officials said. The National Defense Authorization Act enacted at the end of 2024 mandated reviews of both DJI and Autel Robotics, another Chinese firm, to determine if they pose a national security risk. The Trump administration has expanded restrictions on the transfer of advanced technology to China, including artificial intelligence and jet engine parts — moves that are a key point in trade discussions between the world’s two largest economies. According to the Atlantic Council, China controls 90% of the commercial drone market in the US and 80% globally. American companies have struggled to compete, which the Association for Uncrewed Vehicle Systems International has said is partially because Beijing subsidizes its domestic companies, allowing them to offer products at prices significantly lower than US counterparts. The third executive order is meant to promote supersonic technology in the US, in part by repealing certain regulations that officials cast as impeding development.
  • Trump Said He Fired the National Portrait Gallery Director. She’s Still There. The museum director targeted in a social media post by President Donald Trump still holds her position, according to the Smithsonian Institution. Kriston CappsJune 6, 2025 at 3:10 AM GMT+7 Kim Sajet is still doing her job as director of the Smithsonian National Portrait Gallery, although President Donald Trump said she was fired on Friday. Photographer: Shannon Finney/Getty Images North America On Friday, President Donald Trump took to social media to fire Kim Sajet, the director of the National Portrait Gallery, creating a firestorm of controversy at the Smithsonian Institution and beyond. Describing her as a “highly partisan person” and “strong supporter of DEI,” Trump posted on May 30 on Truth Social that he had removed Sajet from her role at the portraiture museum in downtown Washington, DC. The post indicated that her replacement would be named shortly. As of June 5, though, Sajet is still reporting to work, a spokesperson for the Smithsonian confirmed. The stakes for any decision are high: If the president succeeds in firing Sajet, Trump will have exerted control over staffing decisions for the Smithsonian, which is not part of the executive branch, potentially gaining sweeping powers over its 21 museums. Leaders at America’s cultural treasury are entrenched in a closely held debate about what to do next, as the president seeks to assume authority over the Smithsonian using both budget pressure and blunt force. Democratic lawmakers have argued that Trump did not have the authority to fire Sajet because the Smithsonian is independent from the White House. When Congress first authorized the Smithsonian in 1846, it delegated authority over the institution, which is structured as a trust instrumentality, to a board of regents. The board’s 17 members include the vice president of the US, the chief justice of the Supreme Court, members of both the House and Senate and US citizens appointed by Congress. Members of this board assembled on June 2 for an emergency meeting. The only agenda item: “confidential personnel matters.” At the same time, the White House has significant say over the federal funds on which the Smithsonian relies for much of its budget. A photo of President Donald Trump displayed in the America's Presidents exhibition at the National Portrait Gallery on June 1, 2025.Photographer: Kevin Carter/Getty Images North America The White House has meanwhile drafted a laundry list of complaints about Sajet, compiling pages of quotes she’s given over the years about the ways that portraiture reflects society. Chief among the listed complaints are Sajet’s doctorate in “Liberal Studies” from Georgetown University, her political donations — she’s given $3,982.40 to various Democratic officials and liberal causes, including Joe Biden’s presidential campaign — and the caption that hangs below the portrait of Trump on view at the Portrait Gallery. “Impeached twice, on charges of abuse of power and incitement of insurrection after supporters attacked the US Capitol on January 6, 2021, he was acquitted by the Senate in both trials,” the caption reads. “After losing to Joe Biden in 2020, Trump mounted a historic comeback in the 2024 election. He is the only president aside from Grover Cleveland (1837–1908) to have won a nonconsecutive term.” The president signed an executive order in March targeting the Smithsonian for its “divisive, race-centered ideology” and pledging that Vice President JD Vance, as regent, would be responsible for changing the culture. The March 27 order mentioned two museums by name — the Smithsonian American Art Museum and the National Museum of African American History and Culture — detailing a sculpture exhibit and historic materials that the administration finds objectionable. The same day that Trump posted on Truth Social, the White House told the Smithsonian that the president’s budget request to Congress slashed the Smithsonian’s funding by $131.2 million — a 12% reduction from FY 2025 levels, according to an email from Smithsonian Secretary Lonnie G. Bunch III to staff obtained by Bloomberg CityLab. The budget also zeroes out funding for the Anacostia Community Museum, an urban arts center located in DC’s Ward 8 neighborhood, which will be rolled up into the National Museum of African American History and Culture if the budget passes. A forthcoming National Museum of the American Latino would be eliminated entirely, as first reported by The Washington Post. Bunch’s email described the current budget as “one of the most challenging financial moments in the Institution's history.” Neither the Castle nor the Portrait Gallery has issued any formal statement about Trump’s post. The board meets for its next regularly scheduled meeting on June 9. (A spokesperson for Vance didn’t respond to questions about his attendance this week or next.) Trump’s post came as a shock to museum directors and other senior leaders, according to staffers, in part because the Portrait Gallery has so rarely been a site of controversy. One of the museum’s wings is devoted to a gallery of portraits of American presidents, including Gilbert Stuart’s 1796 “Lansdowne” portrait of George Washington. The Portrait Gallery’s paintings of President Barack Obama and First Lady Michelle Obama drew massive crowds in 2018 and traveled on tour to museums in seven cities. The Portrait Gallery’s programming has grown more adventurous over the years, however. In 2010, an exhibit featuring LGBTQ artworks drew the ire of conservative media, setting off a rare scandal after Smithsonian Secretary G. Wayne Clough removed a video work by artist David Wojnarowicz that included a depiction of a crucifix. Under Sajet, who joined the museum in 2013, the Portrait Gallery has mounted exhibits by Ken Gonzales-Day, Titus Kaphar and Felix Gonzalez-Torres, artists who challenge the traditional boundaries of portraiture in terms of both its form and content. Portraiture in America, Sajet said at the Atlantic Festival in 2018, “has never been only about meritocracy but also social access, racial inequality, gender difference, religious preference and political power” — comments that were recirculated by the White House this week. Trump pays close attention to his official likenesses: In March he complained that a portrait of himself hanging in the state capitol in Colorado was unflattering, prompting the legislature to remove it. And on June 2, just days after he posted the notice about Sajet, the White House unveiled a new official presidential portrait.
  • Columbia Student Loans Are Threatened by Trump’s ‘Secret Weapon’ Graduates outside Low Library at Columbia University. The Trump administration escalated its fight against top American colleges by targeting Columbia University’s access to federal student loans — a new tactic in the White House’s drive to wield power over academia and key financial streams. The Education Department said Wednesday that Columbia no longer meets standards for accreditation, citing its leadership’s “deliberate indifference” to the harassment of Jewish students. It called for the school’s accreditor — which determines if institutions are eligible for federal student aid — to ensure the university’s compliance with anti-discrimination laws.
  • Trump’s ‘Revenge’ Tax Could See Dollar Dive 5%, Allianz CIO Says A foreign tax provision in US President Donald Trump’s massive fiscal package could trigger a 5% plunge in the dollar and send equities reeling if it takes effect, according to Allianz SE’s chief investment officer Ludovic Subran. The item, introduced in legislation that passed the US House in May as Section 899, is “exactly what people don’t spend enough time on,” Subran said in an interview on Bloomberg TV on Tuesday. The provision would increase tax rates for individuals and companies from countries whose tax policies the US deems “discriminatory.”
  • Circle, Backers Seek $896 Million After Boosting IPO Size Circle Internet Group Inc. and its shareholders have increased the size and price of the company’s initial public offering, suggesting strong investor demand for the stock. The company and some of its backers are now offering 32 million shares at a price range of $27 to $28 a pop, according to a filing Monday with the US Securities and Exchange Commission. Circle and the selling shareholders were previously offering 24 million shares at a range of $24 to $26 each. The offering had received orders for multiple times the shares available, Bloomberg News reported last week.
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