U.S. Trade Deficit Shrinks as Companies Slow Down Their Front-Loading

The U.S. trade deficit collapsed in April, as tariffs took a huge bite out of imports.
The trade deficit narrowed to a seasonally adjusted $61.6 billion in April, the Commerce Department reported on Thursday, its lowest level since September 2023. That was down sharply from the record $138.3 billion it hit in March, when businesses were racing to bring in imports before the 'Liberation Day' tariffs that President Trump imposed April 2.

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D.C. attorney general alleges violence intervention nonprofit misused funds

The District's attorney general has alleged that a nonprofit group hired by the city misappropriated funds that were supposed to go toward preventing gun violence in the Congress Heights neighborhood. In a lawsuit filed this week by D.C. Attorney General Brian L. Schwalb, the city is seeking to recoup more than $250,000 in government funds that went to Women in H.E.E.L.S. (Healing, Elevation, Empowerment, Love, Support) Inc. The group signed an agreement with the attorney general's office in March 2022 to operate one of four new violence-reduction program sites as part of the office's Cure the Streets program, according to the suit.

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Scholar Rock (SRRK) Jumps 16.6% After Successful Weight Loss Drug Trial

We recently published a list of These 10 Stocks Boast Double-Digit Gains Amid Boring Market. Scholar Rock Holding Corporation (NASDAQ:SRRK) is one of the best-performing stocks on Thursday. Scholar Rock jumped by 16.6 percent on Wednesday to close at $36.32 apiece as investor sentiment was bolstered by the positive results from the second phase of its weight loss drug trial. In a statement, Scholar Rock Holding Corporation (NASDAQ:SRRK) said the trial, which aims to assess its drug candidate apitegromab's combination with tirzepatide, was generally well tolerated, leading to higher quality weight loss as compared with taking tirzepatide alone. According to Scholar Rock Holding Corporation (NASDAQ:SRRK), apitegromab therapy in combination with tirzepatide resulted in the preservation of 4.2 pounds of lean mass compared with tirzepatide alone. 'While this is an exciting development for our platform, we remain focused on preparing for the launch of apitegromab, and following its potential approval in SMA, we look forward to studying it in a range of neuromuscular diseases with high unmet need,' said Scholar Rock Holding Corporation (NASDAQ:SRRK) President and CEO Akshay Vaishnaw, adding that he was looking forward to exploring its potential in various rare, severe debilitating neuromuscular disorders. A scientist holding a flask of liquid in a laboratory, highlighting the research and discoveries of new treatments. 'We remain on track to file an IND application for SRK-439 in the second half of this year to support the first in human study,' he said. While we acknowledge the potential of SRRK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

CBS News

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Former Michigan President Santa Ono will not return to university faculty, officials say

Former University of Michigan President Santa Ono will not return to a faculty position after he pursued the presidential role at the University of Florida and was rejected. A U of M spokesperson confirmed on Friday that Ono resigned from employment. The university did not provide any further details. Ono confirmed to The Detroit News that he informed the university he was returning, but stopped short of sharing his future plans. Ono was named Michigan's 15th president in 2022. He announced in May 2025 that he was stepping down to go for the same role at the University of Florida. He received initial approval from the university's Board of Trustees, but was rejected by the Florida Board of Governors a week later. Before the Board of Governors' 10-6 vote, several prominent conservatives raised questions about Ono over pro-Palestinian protests, climate change efforts, gender ideology and DEI programs at the University of Michigan and his previous academic positions. One of those conservatives was U.S. Sen. Rick Scott, who said that he had "serious concerns" about Ono potentially becoming president. Scott urged the Board of Governors to question the encampment that occurred on U of M's Diag last year and Ono's response to reports of anitsemitism on campus. Before becoming Michigan's president, he served six years as president and vice-chancellor of the University of British Columbia and as president and provost of the University of Cincinnati. He was set to replace Kent Fuchs, who became the school's interim president last summer after ex-U.S. Sen. Ben Sasse stepped down. Sasse left the U.S. Senate, where he had represented Nebraska, to become the university's president in 2023. According to the University of Florida's website, Fuchs remains the university's interim president.