“In a defeat for the Trump administration, a federal judge in New York ruled Wednesday that companies that paid tariffs struck down last month by Supreme Court are due refunds. Judge Richard Eaton of the U.S. Court of International Trade wrote that ‘all importers of record’ were ‘entitled to benefit’ from the Supreme Court ruling that struck down sweeping double-digit import taxes President Donald Trump imposed last year under the 1977 International Emergency Economic Powers Act (IEEPA). The Supreme Court found those tariffs to be unconstitutional under the emergency powers law, including the sweeping ‘reciprocal’ tariffs he levied on nearly every other country. The majority ruled that the president could not unilaterally set and change tariffs because taxation power clearly belongs to Congress.” (03/04/26)
“Bitcoin hovered near $72,500 as U.S. spot bitcoin ETFs logged about $155 million in net inflows on Wednesday, extending a two-week run of roughly $1.47 billion in new allocations. … Institutional demand through ETFs has begun to stabilize after a difficult start to the year. Investors have poured roughly $1.7 billion into U.S. spot bitcoin ETFs since Feb. 24, according to Bloomberg Intelligence data previously reported by CoinDesk, suggesting some investors are growing more comfortable that the market may have found at least a near term floor.” (03/05/26)
“A U.S. submarine sank a prized Iranian warship by torpedo, the first such sinking of an enemy ship since World War II, Secretary of War Pete Hegseth said Wednesday morning. … The flagship was named for Qasem Soleimani, an Iranian military officer who served in the Islamic Revolutionary Guard Corps who the U.S. killed in a January 2020 drone strike during President Donald Trump’s first term.” (03/04/26)
“The Iran war’s disruption of Middle East oil and gas supplies and soaring prices are strengthening Russia’s ability to profit from its energy exports, a pillar of the Kremlin’s budget and a key to paying for its own war in Ukraine. Prices for Russia’s oil exports have risen from under $40 per barrel as recently as December to about $62 per barrel — first on fears of war and then due to interruption of almost all tanker traffic through the Strait of Hormuz, the conduit for some 20% of the world’s oil consumption. Russian oil still trades at a considerable discount to international benchmark Brent crude …. However, Russian crude is now above the benchmark of $59 per barrel that was assumed in the Russian Finance Ministry’s budget plan for 2026. Oil and gas tax revenues account for up to 30% of the Russian federal budget.” (03/04/26)
“Cuba said Wednesday it has filed terrorism charges against six suspects it claims were aboard a Florida-flagged speedboat that is alleged to have opened fire on soldiers in waters off the island’s north coast. The Prosecutor’s Office said in a statement that the suspects of Cuban origin remain in pretrial detention, adding that it will ensure ‘due process’ as it continues to act ‘in defense of our people and the country’s institutions.’ The government has said 10 heavily armed Cubans from the U.S. who were on board the boat opened fire as they tried to infiltrate the island to commit acts of terrorism. It said that Cuban soldiers returned fire, killing four suspects.” (03/04/26)
“Google is officially doing away with its 30 percent cut of Play Store transactions, and rolling out changes to how third-party app stores and alternate billing systems will be handled by Android. Some of these tweaks were proposed as part of the settlement the company reached with Epic in November 2025, but rather than wait for final judicial approval, Google is committing to revamping Android and the Play Store publicly. The biggest change is to how Google will collect fees from developers publishing apps on Android. Rather than take its standard 30 percent cut of in-app purchases through the Play Store, Google is lowering its cut to 20 percent, and in some cases 15 percent for new installs of apps from developers participating in its new App Experience program or updated Google Play Games Level Up program.” (03/04/26)
“The House Ethics Committee said Wednesday that it has opened an investigation of Rep. Tony Gonzales, R-Texas, over allegations that include having an affair with an aide. The top Republican and Democratic members on the committee said in a joint statement that an investigative panel would look into whether Gonzales engaged in sexual misconduct toward an employee in his office and whether he discriminated unfairly by dispensing special favors or privileges. … The San Antonio Express-News reported that it had obtained text messages in which the former Gonzales staffer, Regina Ann Santos-Aviles, wrote to a colleague that she had an affair with the congressman. … Santos-Aviles, 35, died in September 2025 after setting herself on fire in the backyard of her home in Uvalde, Texas.” (03/04/26)
“Starting April 1, Texas will become the first state to implement sweeping new restrictions on the types of food and beverages available for purchase through the Supplemental Nutrition Assistance Program (SNAP), state officials announced Wednesday. Under the new rules, the 3.3 million Texans who rely on SNAP benefits will no longer be able to use their Lone Star Cards to buy candy, gum, or sweetened drinks. The Texas Health and Human Services Commission (HHSC) issued the reminder as part of a final push to educate retailers and recipients before the deadline. The policy change follows a waiver approved by the U.S. Department of Agriculture in August 2025, a move championed by Gov. Greg Abbott and the Trump Administration to shift the program’s focus toward long-term health outcomes.” (03/04/26)
“The European Parliament’s trade lawmakers decided on Wednesday to keep the EU-U.S. trade deal frozen amidst volatile transatlantic relations. A majority of political groups voted not to move ahead with legislation to implement the EU’s side of the bargain struck at President Donald Trump’s Turnberry golf resort in Scotland last summer. … The latest postponement follows Trump’s threat on Tuesday to impose a trade embargo on Spain for refusing to allow U.S. warplanes stationed there to launch air strikes on Iran.” (03/04/26)
“Attorney General Gali Baharav-Miara on Wednesday called on the High Court of Justice to order that Prime Minister Benjamin Netanyahu fire National Security Minister Itamar Ben Gvir from his position, unless the premier explains why he hasn’t done so. In a new legal filing, Baharav-Miara accused Ben Gvir of violating court rulings and showing ‘contempt for the rule of law’ while ‘systematically undermining the independence of the police.’ … In February, the High Court ordered Netanyahu to explain why he hasn’t fired Ben Gvir amid an ongoing court case over the far-right politician’s practices and policies in office.” (03/04/26)
