us federal debt

Anil Kochhar, an inspiring Indian-American entrepreneur, has made headlines with his extraordinary contribution aimed at eradicating the student loan debts of all 176 graduates from Johnson C. Smith University, a key historically Black college located in North Carolina.

President Donald Trump's latest disclosure reveals more than 3,700 stock trades worth $220 million to $750 million in Q1 2026, with heavy buying and selling in Microsoft, Meta, Amazon, and Nvidia. The filing shows Nvidia and AMD purchases days before key US chip export approvals for China, reigniting conflict-of-interest concerns. The White House denies any wrongdoing, citing a discretionary trust managed by Trump's children.

Mark Cuban strongly advises students against taking on massive debt for college, calling it the "dumbest thing you can do." He recommends starting at community college to save money, emphasizing that foundational learning is the same regardless of institution. Cuban believes student loan policies have contributed to rising tuition costs.

The Sensex tumbled over 1,000 points to slip below the 74,300 mark, while the Nifty 50 dropped more than 300 points to trade under 23,350. The steep decline erased nearly Rs 7 lakh crore from the total market capitalisation of BSE-listed companies, reducing it to around Rs 454 lakh crore.

Economists believe India’s foreign-exchange reserves are still sufficiently strong to shield the rupee from the oil price shock triggered by the Iran conflict, with the country’s reserve buffers remaining far healthier than the levels seen during the 2013 taper tantrum.

Indian aviation faces unprecedented turbulence due to a perfect storm of factors. From pandemic fallout and engine failures to airspace closures and a Middle East war driving fuel prices sky-high, airlines are struggling. Passengers face rising fares and cancelled routes as the sector grapples with deep financial distress and operational chaos.

Spirit Airlines, a prominent low-cost carrier, has ceased operations after 34 years, citing an immediate shutdown. The airline's abrupt closure follows failed federal intervention and mounting financial losses exceeding $2.5 billion since 2020. This development impacts approximately 17,000 employees and cost-conscious travelers.

On May 2, 2026, Spirit Airlines suddenly announced the end of its operations after a $500 million bailout plan from the White House fell through. With years of financial hardship, rising fuel costs, and unsuccessful merger talks with JetBlue forming a trifecta of challenges, the airline's abrupt closure leaves countless passengers stranded and puts 17,000 jobs at risk.

Petroleum Minister Ali Pervaiz Malik has admitted that Pakistan lacks even a day’s worth of strategic petrol reserves, as oil prices climb to $126 per barrel — the highest since 2022 — amid ongoing shipping disruptions in the Strait of Hormuz

The UAE has requested a US financial safety net amid concerns that an Iran war could severely damage its economy and investor confidence. Talks included a currency-swap line proposal, as the UAE fears needing to use other currencies for transactions if dollar shortages arise.

Palantir CEO Alex Karp has published a manifesto urging Silicon Valley to build artificial intelligence weapons. He believes this technology is inevitable and that the tech sector has a moral duty to support national defense. Karp argues that adversaries will not wait for ethical debates. He states that the atomic age is ending and AI will define future military power.

More than 643,000 US student loan borrowers are awaiting decisions on income-driven repayment plans or loan forgiveness, according to a CNBC report citing a recent court filing. While the government has reduced pending IDR applications, delays persist, especially in Public Service Loan Forgiveness cases. As policy changes loom and repayment pressures rise, millions of borrowers continue to face financial strain, with many struggling to manage basic living expenses alongside their student debt obligations.

Today is Akshaya Tritiya, an auspicious day in the Hindu calendars, believed to bring lasting prosperity and good fortune. Buying gold on this day is considered auspicious. Experts believe that returns on gold over the last few years reinforce its role as a long-term wealth preserver.

US President Donald Trump has proposed a massive $1.5 trillion defense budget for 2027. This plan significantly boosts military spending. It also calls for reducing non-defense outlays. The administration aims to shift some responsibilities to state and local governments. This proposal highlights a strong focus on national security amid ongoing conflicts. Congress will review these budget plans.