The ACTUAL NEWS: Wednesday, February 26th 2025 Recap
"Today in History" and the Latest National and Global News
TODAY IN HISTORY
1815: Forced to abdicate as French emperor in 1814, Napoleon escaped from exile on the island of Elba this day in 1815 and, gathering support en route, retook power on his return to Paris on March 20, ushering in the Hundred Days.
1885: The Berlin West Africa Conference concluded, with the major European countries having staked claims to their colonial expansions in Central Africa.
1919: The U.S. Congress established Grand Canyon National Park in northwestern Arizona.
1929: Grand Teton National Park was established in Wyoming; in 1950 it was expanded to include most of Jackson Hole National Monument.
1993: The World Trade Center in New York City was bombed in an act of terrorism, and Islamic radicals were later convicted for the crime.
2012: National debates about racism and racial profiling ensued after Trayvon Martin, an unarmed African American teenager returning from a convenience store in Sanford, Florida, was fatally shot by a neighborhood-watch volunteer, George Zimmerman, who later "successfully argued" that he had acted in "self-defense".
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NATIONAL
A meeting of the committee advising the U.S. Food and Drug Administration on vaccine policy has been canceled, according to a committee member who spoke with Reuters. This marks the second such disruption to a federal vaccine advisory panel since Robert F. Kennedy Jr. assumed the role of the nation's top health official earlier this month.
On Wednesday, the United States Postal Service announced new service standards that are expected to save the agency at least $36 billion over the next decade. USPS has incurred losses exceeding $100 billion since 2007, including $9.5 billion in the year ending September 30. Outgoing Postmaster General Louis DeJoy warned in November that without further cost reductions, the agency would face either a "government bailout or the end of this great organization as we know it."
The U.S. Federal Trade Commission revealed on Wednesday that it will investigate potential corporate collusion regarding diversity, equity, and inclusion targets as part of a new labor market task force.
The U.S. Securities and Exchange Commission is considering a resolution to its closely watched civil fraud case against Justin Sun, the Chinese cryptocurrency entrepreneur and adviser to a crypto project supported by U.S. President Donald Trump.
On Wednesday, U.S. President Donald Trump announced that Environmental Protection Agency Administrator Lee Zeldin plans to reduce the agency’s workforce by 65%, a move that came as a surprise to the agency's staff.
A U.S. judge on Wednesday temporarily extended an order reinstating the head of a federal watchdog agency responsible for protecting whistleblowers. The head had challenged his firing by President Donald Trump.
The U.S. Securities and Exchange Commission has informed unionized employees that they will be required to return to the office by mid-April, unless they qualify for specific exemptions, according to a memo seen by Reuters.
Elon Musk stated on Wednesday during President Donald Trump's first cabinet meeting that the U.S. must act quickly to achieve a trillion-dollar reduction in the country's deficit, warning that "without spending cuts, the country would go bankrupt."
The Trump administration has instructed agencies to collaborate with the "Department of Government Efficiency team leads" to identify targets for mass layoffs, as part of restructuring plans due by March 13, according to a memo released Wednesday.
On Wednesday, Deere investors voted overwhelmingly against a resolution aimed at the company's diversity, equity, and inclusion efforts. This continues a pattern of shareholder resistance to anti-DEI measures, despite Republican political pressure on executives.
President Donald Trump raised the possibility on Wednesday of another month-long delay in imposing steep new tariffs on imports from Mexico and Canada, with the potential for them to take effect on April 2. He also proposed a 25% "reciprocal" tariff on European cars and other goods.
Nvidia’s quarterly outlook on Wednesday showed that demand from major tech companies like Microsoft and Amazon for AI infrastructure remains strong, despite the launch of a low-cost model by Chinese startup DeepSeek last month, which had raised concerns about overspending.
Sales of new U.S. single-family homes dropped more than expected in January, as persistently high mortgage rates sidelined potential buyers. This is the latest sign that both the housing market and overall economic activity have slowed in the first quarter.
On Wednesday, U.S. Agriculture Secretary Brooke Rollins announced that the U.S. will invest up to $1 billion to "combat the spread of bird flu and increase egg imports to help lower high prices".
The U.S. government spent more in President Donald Trump’s first month in office than it did in the same period the previous year, signaling that his cost-cutting efforts have yet to reduce the nation’s substantial fiscal obligations, according to a Reuters analysis of federal data.
U.S. stocks closed mixed on Wednesday amid fresh tariff threats, while a draft U.S.-Ukraine deal on critical minerals and strong corporate earnings helped European shares close at a record high.
Over 45,000 U.S. dockworkers, represented by the International Longshoremen’s Association (ILA), voted to ratify a new six-year contract on Tuesday.
Democratic commissioner Christy Goldsmith Romero announced in a statement that she plans to step down from the Commodity Futures Trading Commission once Trump appointee Brian Quintenz is confirmed to lead the agency.
GLOBAL
Trump may demand the exclusion of Finland and Sweden from NATO in the interests of an agreement with the Kremlin, according to Finnish political scientist Jussi Lassila.
South Africa sought to salvage international talks on tackling global poverty on Wednesday as finance chiefs from several leading economies skipped a gathering of Group of 20 nations in Cape Town, held against a backdrop of foreign aid cuts.
South Korea's business leaders are taking action to offset the threat posed by U.S. President Donald Trump's aggressive trade policies, hiring his former aides and lobbying Republican states out of frustration with delays by their own government, which is mired in a political crisis.
U.S. President Donald Trump's designation of drug cartels as terrorist organizations heightens the risk of U.S. criminal prosecutions for American companies operating in parts of Latin America and migrants to the United States, legal experts said.
The Argentine government has authorized the export of live cattle for slaughter, reversing a prohibition that had been in place for over five decades, after the country's beef exports last year reached their highest level in a century.
Chile's foreign ministry said on Wednesday it is "monitoring" a U.S. probe looking into potential new tariffs on imports of copper, a metal critical to electric vehicles, military hardware, the power grid, and many consumer goods.
The United States imposed sanctions on six entities based in Hong Kong and China on Wednesday that it accused of being involved in an Iranian drone procurement network, as the Trump administration implements its "maximum pressure" campaign against Tehran.
U.S. President Donald Trump on Wednesday declined to comment in response to a question about whether the United States would ever allow China to take control of Taiwan by force.
This morning, Romanian authorities arrested pro-Kremlin conspiracy theorist and presidential candidate Georgescu. The officials also found tens of millions in cash and released evidence showing Georgescu’s bodyguards and associates made frequent trips to Moscow.
The Federal Bureau of Investigation said on Wednesday that North Korea was responsible for the theft of approximately $1.5 billion in virtual assets from cryptocurrency exchange ByBit. The agency said it refers to this specific North Korean malicious cyber activity as "TraderTraitor."
New Zealand's foreign minister said he had raised concerns over China's recent live-fire drills in the Tasman Sea during meetings with Chinese leaders on Wednesday. The issue was a lack of notice given to New Zealand over the military exercises off its coast, Winston Peters told reporters in Beijing after a meeting with his Chinese counterpart Wang Yi.
Stellantis faces uncertainty around tariffs promised by U.S. President Donald Trump that could significantly reduce its profits, while the Jeep-maker is already struggling to recover from what it called a "rough" 2024.
U.S. President Donald Trump said on Wednesday that his administration will soon announce a 25% tariff on imports from the European Union. "We have made a decision, and we'll be announcing it very soon, and it'll be 25% generally speaking, and that'll be on cars, and all of the things," Trump told reporters during a meeting of his cabinet.
The European Commission said on Wednesday it will react "firmly and immediately against unjustified barriers to free and fair trade" after U.S. President Donald Trump said his administration would soon announce a 25% tariff on imports from the EU.
Ukraine will not be on the agenda when U.S. and Russian officials meet in Istanbul on Thursday for talks over the operation of their respective diplomatic missions, a State Department spokesperson said on Wednesday.
A White House official on Wednesday raised doubts about whether an invitation to Ukraine President Volodymyr Zelenskyy to meet U.S. President Donald Trump would make sense, given Zelenskyy's comments that a minerals deal is not complete.
Ukraine said on Wednesday it had reached a "preliminary" deal to hand revenue from some of its mineral resources to the United States, before an expected trip to Washington by President Volodymyr Zelenskyy on Friday.
Ukrainian lawmakers on Wednesday approved a measure that would allow for the setting up of new courts to settle high-level political disputes, as part of a reform effort being closely watched by Kyiv's Western partners.
The United States on Wednesday abstained from co-sponsoring a joint statement at the World Trade Organization condemning Russia's aggression in Ukraine, a diplomatic source and a Geneva trade official told Reuters.
Dozens of dignitaries walked out of Russia's speech to the U.N. Human Rights Council in Geneva on Wednesday in support of Ukraine. The delegates, including the ambassadors of France, Germany, and Britain, gathered outside the room where the session was taking place to mark three years since Russia's full-scale invasion of Ukraine.
Germany's Social Democrats (SPD) said on Wednesday they had agreed to start talks on a possible coalition with Friedrich Merz's conservatives but stressed their support was not automatic and hit out at his negotiating style.
Police are on high alert ahead of Germany's traditional carnival celebrations this week after social media connected to the Islamic State militant group called for attacks targeting revelers in Cologne and Nuremberg, said police spokespeople.
Jordan's King Abdullah and Syria's interim President Ahmed al-Sharaa agreed on Wednesday to work together to secure their common border against arms and drug trafficking, officials said. At a meeting with Sharaa in Amman, the Jordanian monarch also condemned Israel's strikes late on Tuesday on southern Damascus and in southern Syria near the Jordan border, the latest in a series of Israeli attacks on Syrian military targets.
Palestinian group Hamas said on Wednesday an exchange of Palestinian prisoners for the bodies of Israeli hostages would take place through "a new mechanism" that guaranteed Israel's compliance. The date for the exchange would be announced at the right time, a Hamas statement added.
President Trump on Wednesday said he was reversing a license given to Chevron to operate in Venezuela by his predecessor Joe Biden more than two years ago, accusing President Nicolas Maduro of not making progress on electoral reforms and migrant returns.
POSTS OF THE DAY
President Trump posted the following video on Truth Social
VIDEO QUICK NEWS
Trump: The European Union was formed in order to screw the United States, that's the purpose of it. And they've done a good job of it. But now I'm president.
Zelenskyy on the “deal with US”: I need to understand what will happen to us, to our families tomorrow, and where you (the US) stand. We don't just need agreements on money—we're trying to survive. My first question is: will America stop military aid?
Trump: Ukraine can forget about NATO
New York City Mayor Adams said.. THIS.
ICYMI
U.S. companies have begun laying off workers across various sectors as they try to streamline operations amid economic uncertainties, following similar cutbacks observed last year. The Labor Department's Job Openings and Labor Turnover Survey (JOLTS) report from early February showed that vacancies were down by 1.3 million year-over-year at the end of December, while still remaining above the 2019 average.
This suggests that the labor market is slowing but not experiencing a sudden downturn.
On Wednesday, U.S. President Donald Trump urged Apple to scrap its diversity, equity, and inclusion policies, a day after the iPhone maker's shareholders overwhelmingly voted to retain them in the face of growing pushback from conservative groups.
GOOD TO KNOW
Following is the full text of a framework agreement between Ukraine and the United States on the joint development of rare earths, critical minerals, oil, gas and other natural resources.
The text, seen by Reuters, is dated February 25. A Ukrainian source said the document was the version the government in Kyiv was expected to agree on Wednesday.
Please tap the first screenshot to open the gallery view
TODAY'S QUOTES
Russian President Putin gave an interview with Kremlin journalist Pavel Zarubin in which he shared his plans for Ukraine: On Zelenskyy: “We were interested in him sitting there”, — because he is destroying Ukraine from within. Next Putin confessed that he is going “to bring to power people who will enjoy the trust of the people of Ukraine”. Also, he indirectly confirmed that this is part of the agreements with Trump.
White House Denies Access to Reporters for Trump’s First Cabinet Meeting, Draws Criticism
The White House has drawn significant criticism after denying reporters from several major news organizations access to President Donald Trump’s first cabinet meeting on Wednesday, marking a shift in its media coverage policy. Reuters, HuffPost, and the German newspaper Der Tagesspiegel were among the outlets excluded from covering the event, while TV crews from ABC and Newsmax, along with correspondents from Axios, The Blaze, Bloomberg News, and NPR, were allowed in.
White House Press Secretary Karoline Leavitt defended the move, explaining that while traditional media organizations would still have access to the president, a new policy would determine who could cover Trump in smaller spaces like the Oval Office. "We are changing the participants in the pool system for smaller events," Leavitt said, reinforcing the idea that access is being restructured rather than entirely restricted.
Traditionally, the White House Correspondents' Association (WHCA) has coordinated a rotating press pool, ensuring that a variety of media outlets, including wire services like Reuters, Bloomberg, and the Associated Press, have coverage of presidential events. This allows a broad audience to receive timely, accurate information about the presidency from diverse sources.
In response to the new policy, the three wire services that have traditionally been permanent members of the White House pool—AP, Bloomberg, and Reuters—released a joint statement condemning the decision. The statement emphasized the critical role of wire services in providing "accurate, fair and timely information about the presidency," noting that such reporting reaches a global audience and forms the basis of much of the coverage seen in local news outlets. "It is essential in a democracy for the public to have access to news about their government from an independent, free press," the statement read.
The move to exclude certain media outlets comes on the heels of a decision to bar the Associated Press from the press pool over its refusal to adopt Trump's preferred terminology. The Trump administration has insisted that the Gulf of Mexico be referred to as the "Gulf of America," a change that AP declined to make, citing its editorial guidelines and independence. Leavitt defended the decision, saying that the administration would continue to work with the five major cable and broadcast networks, which will retain rotating seats in the press pool. She also noted that new outlets and radio hosts would be added to ensure broader coverage.
HuffPost quickly called the decision a direct violation of the First Amendment right to freedom of the press, signaling the broader concerns many journalists and media organizations have over the Trump administration’s approach to press access. The WHCA also expressed disapproval, highlighting the risks of undermining a longstanding system that ensures diverse media representation at presidential events.
TODAY'S (COVER) PHOTO
On Wednesday, U.S. President Donald Trump's administration directed federal agencies to implement more large-scale layoffs, while the president gave "downsizing czar Elon Musk" a prominent role at his first cabinet meeting, where Musk discussed his ambitious budget-cutting goals.
That's all from me for now. Thank you for reading.
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