The US is reportedly seeking a shipbuilding partnership with South Korea to address domestic industry issues like delays and cost overruns, and to bolster naval capabilities amid global geopolitical tensions.
President Trump promoted the Lincoln Memorial Reflecting Pool renovation as nearly finished on Truth Social, despite millions in cost overruns, ongoing repairs for cracks, and the need to drain the pool again. Officials are investigating the project, which involved no-bid contracts.
NASA is canceling four key elements of its Artemis Program, including an upper stage for the SLS rocket and a lunar gateway habitation module, citing substantial cost increases and delays. The projects ballooned from $2.8 billion to $5.9 billion, with delivery dates pushed back up to seven years.
Germany has canceled its F126 frigate program, citing significant delays, massive cost increases, and incalculable risks. The project, initially estimated at €5.27 billion for four vessels, was projected to exceed €18 billion for six. Rheinmetall shares plunged 17% following the announcement.
The UK's High Speed 2 (HS2) rail project has announced further delays and increased costs. The London to Birmingham line is now estimated to cost between £87.7 and £102.7 billion, with service pushed back to 2036.
The HS2 high-speed rail project in the UK will now cost up to £102.7bn and trains won't run until 2039, admitting a £70bn increase and 13-year delay. Transport Secretary Heidi Alexander cited underestimates and inefficient delivery for the cost surge.
D.C. U.S. Attorney Jeanine Pirro must decide by Monday whether to appeal a judge's ruling that blocked her subpoenas to the Federal Reserve in her criminal investigation of outgoing Fed Chair Jerome Powell. The appeal will determine when President Trump can appoint a new Fed governor to replace Powell, who plans to stay on as a member after his chairmanship ends. While Pirro claims she closed the investigation on April 24, Trump said the next day it was still ongoing, and her appeal could keep the threat alive while potentially reshaping DOJ investigative powers.
The US Justice Department has closed its criminal investigation into Federal Reserve Chair Jerome Powell regarding renovation cost overruns, shifting scrutiny to the Inspector General's office. This move may clear a path for Kevin Warsh's nomination to lead the central bank.
DOJ closes criminal investigation into Federal Reserve Chair Jerome Powell regarding $2.46 billion headquarters renovation cost overruns, removing a key obstacle to Kevin Warsh's confirmation as Fed chair. Powell's term ends May 15. The OIG will continue reviewing the project, while the Supreme Court is expected to rule by June on whether Trump's firing of Fed governor Lisa Cook was constitutional.
The US Justice Department is dropping its investigation into Federal Reserve Chairman Jerome Powell over alleged building cost overruns, replacing it with an internal investigation led by the central bank's inspector general. The case had become tied to Powell's political future as his term nears its end.
