Bloomberg News Now July 4, 2025: Trump Signs Big Beautiful Bill, Hamas Israel Ceasefire Possible, More
Jul 5, 2025
Discover the implications of Trump's new tax and spending bill on the U.S. economy. Explore the aftermath of severe weather in Texas and OPEC Plus's oil production decisions. Dive into the economic impact of proposed tariffs on U.S. retail and wholesale sectors. Uncover the U.S.-Ukrainian dialogue amid rising tensions with Russia. Finally, see how a UK retailer turned its tech setbacks into opportunities by adopting a digital workplace platform.
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Trump Proclaims U.S. Golden Age
- President Trump signed the Big Beautiful Bill including the largest tax cuts and new child tax credits.
- He proclaimed that the U.S. is entering a golden age and will be made great quickly.
Texas Flash Flooding Crisis
- Texas faced severe flash flooding with a death toll rising to 24.
- Intense rainfall equivalent to months of rain caused ongoing search and rescue efforts.
OPEC Plus Considers Output Hike
- OPEC Plus is considering increasing oil production despite falling prices to regain market share from other producers.
- This risks oversupply which could push prices lower further, with West Texas Intermediate dropping below $67.