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Wall Street Struggles Amid Layoff Surge and Tesla Shareholder Showdown

U.S. markets opened Thursday on shaky ground as investors digested troubling labor data and braced for a pivotal vote at Tesla. The Dow Jones Industrial Average and S&P 500 hovered near flat , while the Nasdaq slipped slightly, down just over 0.1% . The unease was fueled by reports showing that October marked the worst month for layoff announcements since 2003 , with 153,074 job cuts compared to just 55,597 a year earlier. Companies cited cost-cutting, the unwinding of pandemic-era hiring, and preparations for artificial intelligence as reasons behind the surge in layoffs. Meanwhile, investors are keeping a close eye on Tesla’s upcoming shareholder vote , which could shape the future of the electric vehicle giant. Despite strong earnings from chipmaker Qualcomm, tech stocks remained under pressure, reflecting broader concerns about whether valuations in the sector have become overheated. The mixed signals highlight a market caught between optimism about corporate innovation an...

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Aid World in Turmoil: USAID Contractors Face Layoffs and Cash Crunch Under Trump Overhaul


In a dramatic shakeup of U.S. foreign assistance, contractors working with the U.S. Agency for International Development (USAID) have been forced to fire staff and grapple with severe cash shortages amid sweeping changes imposed by President Donald Trump. Hours after taking office, Trump ordered a comprehensive review—and subsequent freeze—of nearly all U.S. foreign aid programs. The move, aimed at realigning spending with “America First” priorities, has led to blanket stop-work orders that left hundreds of contractors without incoming payments for approved projects.

Contractors, who normally front project costs and then invoice the government, suddenly found their revenue streams drying up. As a result, companies reported laying off large portions of their workforce and initiating furloughs, with some citing unpaid invoices worth millions of dollars. The financial crunch has not only jeopardized the livelihoods of thousands of aid workers but also threatened critical programs abroad—from nutritional support for malnourished children to life-saving health initiatives.

Critics warn that these abrupt changes risk undermining decades of humanitarian work that has saved millions of lives, while supporters argue that the review is necessary to eliminate waste and ensure that aid spending directly supports U.S. national interests. As the situation unfolds, uncertainty looms over the future of U.S. foreign assistance, with contractors and aid organizations bracing for further disruptions and potential legal battles over lost benefits and unpaid debts.


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