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    Kremlin Message to Trump: There’s Money to Be Made in Russia

    Russian officials are arguing that American companies stand to make billions of dollars by re-entering Russia. The White House is listening.The Russian government’s top investment manager, who has Harvard and McKinsey credentials and fluent English, brought a simple printout to Tuesday’s talks with the Trump administration in Saudi Arabia.Its message: By pulling out of Russia in outrage over the invasion of Ukraine, American companies had walked away from piles of cold, hard cash.“Losses of U.S. companies by industry,” read the document, which Kirill Dmitriev, the head of Russia’s sovereign wealth fund, showed to a New York Times reporter. “Total losses,” one of the columns said. The sum at the bottom: $324 billion.In appealing to President Trump, the Kremlin has zeroed in on his desire to make a profit. President Vladimir V. Putin said last month that the two leaders “have a lot to talk about” when it comes to energy and the economy. Sergey V. Lavrov, Russia’s foreign minister, said after Tuesday’s meeting that “there was great interest” in the room “in removing artificial barriers to the development of mutually beneficial economic cooperation” — an apparent reference to lifting American sanctions.Remarkably, the Trump administration appears to be engaging with Russia’s message without demanding payment up front. After Ukraine suggested the possibility of natural resource deals to Mr. Trump, his treasury secretary pushed to have the country sign away half its mineral wealth. And Mr. Trump continues to portray American allies as freeloaders, threatening more tariffs and demanding they pay more for their own defense.With Russia, by contrast, the administration seems to be signaling that the one thing Mr. Putin has to do to pave the way for a full reset in Moscow’s relationship with Washington is end the war in Ukraine. Many Europeans and Ukrainians fear Mr. Trump will seek a peace deal on Russia’s terms, especially after the American president suggested on Tuesday that Ukraine was to blame for the Russian invasion.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Courts Force a Window Into Musk’s Secretive Unit

    When President Trump signed an order imbuing the so-called Department of Government Efficiency with even more power over the federal work force, Elon Musk was there, championing the work as an exercise in transparency.“All of our actions are maximally transparent,” Mr. Musk said last week, standing in the Oval Office. “In fact, I don’t think there’s been — I don’t know of a case where an organization has been more transparent than the DOGE organization.”But in case after case, federal judges have begged to differ.The work of Mr. Musk, who Mr. Trump has said is the leader of the operation tasked with making “large scale” reductions across every department, has been largely shrouded in secrecy. Team members have spent weeks burrowing into multiple federal agencies, demanding access to data for undisclosed purposes.Anxious career employees have received little direct information, leaving them reliant on office rumors and news reports for updates. The identities of the members of Mr. Musk’s team, too, have been closely held.Court filings in the torrent of lawsuits challenging the incursions have offered a crucial, though limited, window. As some of the only firsthand accounts of what Mr. Musk’s associates are doing across a number of departments, they paint a picture of a tightly managed process in which small groups of government employees have swept in and out of agencies, grabbing up data in apparent pursuit of larger political projects.The filings have also offered revelations about what information security and ethics trainings those employees have undergone. But many questions remain, frustrating the judges trying the cases.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    DOGE Claimed It Saved $8 Billion in One Contract. It Was Actually $8 Million.

    The biggest single line item on the website of Elon Musk’s cost-cutting team appears to include an error.The Department of Government Efficiency, the federal cost-cutting initiative championed by Elon Musk, published on Monday a list of government contracts it has canceled, together amounting to about $16 billion in savings itemized on a new “wall of receipts” on its website.Almost half of those line-item savings could be attributed to a single $8 billion contract for the Immigration and Customs Enforcement agency. But it appears that the DOGE list vastly overstated the actual intended value of that contract. A closer scrutiny of a federal database shows that a recent version of the contract was for $8 million, not $8 billion. A larger total savings number published on the site, $55 billion, lacked specific documentation.The contract, with a company called D&G Support Services, was to provide “program and technical support services” for the Office of Diversity and Civil Rights at ICE. The Trump administration has been purging diversity programs from the federal government.By examining past versions of the contract listed on the Federal Procurement Data System, The Upshot determined that the federal award, approved in September 2022, had initially listed a total value of $8 billion. But on Jan. 22 this year, that figure was updated to $8 million. According to the database, the contract was terminated about a week later. (For context, $8 billion is nearly the size of the entire budget of the Centers for Disease Control and Prevention.)It’s possible that DOGE or someone else in the Trump administration can claim credit for fixing the error in the contracting database, given that the value was downgraded to $8 million two days after President Trump took office. But it is also clear that the government was not spending $8 billion on the contract. In the two and a half years since it was signed, $2.5 million had been spent; the contract appeared set to expire in 2027.The DOGE website initially included a screenshot from the federal contracting database showing that the contract’s value was $8 million, even as the DOGE site listed $8 billion in savings. On Tuesday night, around the time this article was published, DOGE removed the screenshot that showed the mismatch, but continued to claim $8 billion in savings. It added a link to the original, outdated version of the contract worth $8 billion.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Who Runs Elon Musk’s DOGE? Not Musk, the White House Says.

    Who, exactly, runs the so-called Department of Government Efficiency?You might think it would be Elon Musk, the man who President Trump said “will lead the Department of Government Efficiency” alongside Vivek Ramaswamy, before Mr. Ramaswamy stepped away from it last month.But when Mr. Trump set up the cost-cutting body in an executive order on his first day, the order did not say who its “administrator” would be. Section 3(b) of the order reads: “There shall be a USDS Administrator established in the Executive Office of the President who shall report to the White House Chief of Staff,” using the abbreviation for United States DOGE Service, the official name of the effort, which is not actually a cabinet-level department. Last week, White House representatives did not respond to repeated requests to identify that administrator.Then on Monday evening, a White House official stated plainly that “Mr. Musk is not the U.S. DOGE Service Administrator.” The official, Joshua Fisher, made the statement in a declaration to a judge, U.S. District Judge Tanya S. Chutkan, who is hearing a case filed by Democratic attorneys general against Mr. Musk and the DOGE effort.Mr. Fisher added that Mr. Musk was “an employee in the White House Office” and “not an employee of the U.S. DOGE Service.”Mr. Trump often talks about Mr. Musk as the functional leader of the DOGE effort, featuring him in a news conference last week where Mr. Musk answered questions about it.A lot of secrecy has surrounded DOGE despite Mr. Musk’s attempts to position it as “maximally transparent.” The White House’s unwillingness to state who its administrator is only adds to that sense of opacity.DOGE’s predecessor organization, the U.S. Digital Service, had administrators whose roles were public, most recently Mina Hsiang.Leaders of Mr. Musk’s effort who could conceivably be its “administrator” include Steve Davis, Mr. Musk’s right-hand man for two decades, who has overseen the day-to-day work of his efforts in Washington, and Brad Smith, an official in the first Trump administration who has been intimately involved in DOGE’s moves. A White House spokesperson did not respond to another request for comment on Monday evening in response to Mr. Fisher’s declaration.The administrator has several powers, according to the executive order. Those include helping agency heads choose their DOGE team members and starting a “Software Modernization Initiative” to update the government’s technology. A second executive order, released last week, said the DOGE administrator would receive a monthly hiring report from each federal agency and would submit a report in 240 days to Mr. Trump on the order’s implementation.It is not known who that report’s author will be. More

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    They’ve Been Waiting Years to Go Public. They’re Still Waiting.

    Some tech companies are delaying or pulling their listing plans as the Trump administration’s tariff announcements and other changes cause market volatility and uncertainty.Turo, a car rental start-up in San Francisco, has been trying to go public since 2021. But a volatile stock market in early 2022 delayed its listing. Since then, the company has waited for the right moment.Last week, Turo pulled its listing entirely. “Now is not the right time,” Andre Haddad, the company’s chief executive, said in a statement.For months, investors have eagerly anticipated a wave of initial public offerings, spurred by President Trump’s new administration. Since his election victory in November, which ended a tumultuous campaign season, Corporate America and Wall Street have heralded the start of a pro-business, anti-regulation period. The stock market soared ahead of an expected bonanza of deal making.But the administration’s tariff announcements and rapid-fire regulatory changes have created uncertainty and volatility. Worsening inflation has set off market jitters. And the emergence of the Chinese artificial intelligence app DeepSeek last month caused investors to question their optimistic bets on U.S. tech, leading to a drastic sell-off among A.I.-related stocks.All that has affected initial public offerings. “The calendar just went from fully booked to being wide open in a span of like three weeks,” said Phil Haslett, a founder of EquityZen, a site that helps private companies and their employees sell their stock.So far this year, the pace of public offerings is ahead of last year’s, with companies raising $6.6 billion from listings, up 14 percent compared with this time last year, according to Renaissance Capital, which manages I.P.O.-focused exchange traded funds.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    USAID Climate Programs Fighting Extremism and Unrest Are Closing Down

    Numerous programs aimed at averting violence, instability and extremism worsened by global warming are ensnared in the effort to dismantle the main American aid agency, U.S.A.I.D.One such project helped communities manage water stations in Niger, a hotbed of Islamist extremist groups where conflicts over scarce water are common. Another helped repair water-treatment plants in the strategic port city of Basra, Iraq, where dry taps had caused violent anti-government protests. The aid group’s oldest program, the Famine Early Warning Systems Network, ran a forecasting system that allowed aid workers in places like war-torn South Sudan to prepare for catastrophic floods last year.The fate of these programs remains uncertain. The Trump administration has essentially sought to shutter the agency. A federal court has issued a temporary restraining order. On the ground, much of the work has stopped.“They were buying down future risk,” said Erin Sikorsky, director of the Center for Climate and Security and a former U.S. intelligence official. “Invest little today so we don’t have to spend a lot in the future when things metastasize.”The German government this week released a report calling climate change “the greatest security threat of our day and age,” echoing a U.S. intelligence report from 2021, which described climate hazards as “threat multipliers.”Some U.S.A.I.D. funding supported mediation programs to prevent local clashes over land or water. For instance, as the rains become erratic in the Sahel, clashes between farmers and cattle herders become more frequent.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Top Social Security Official Leaves After Musk Team Seeks Data Access

    The departure of the acting commissioner is the latest backlash to the Department of Government Efficiency’s efforts to access sensitive data.The top official at the Social Security Administration stepped down this weekend after members of Elon Musk’s so-called Department of Government Efficiency sought access to sensitive personal data about millions of Americans held by the agency, according to people familiar with the matter.The resignation of Michelle King, the acting commissioner, is the latest abrupt departure of a senior federal official who refused to provide Mr. Musk’s lieutenants with access to closely held data. Mr. Musk’s team has been embedding with agencies across the federal government and seeking access to private data as part of what it has said is an effort to root out fraud and waste.Social Security payments account for about $1.5 trillion, or a fifth, of annual federal spending in the United States. President Trump has pledged not to enact cuts to the program’s retirement benefits, but he has indicated that he is willing to look for ways to cut wasteful or improper spending from the retirement program that pays benefits to millions of Americans.An audit produced by the Social Security Administration’s inspector general last year found that from 2015 to 2022, the agency paid almost $8.6 trillion in benefits and made approximately $71.8 billion, or less than 1 percent, in improper payments that usually involved recipients getting too much money.Mr. Musk’s team at the Social Security Administration was seeking access to an internal data repository that contains extensive personal information about Americans, according two people familiar with the matter, who spoke on the condition of anonymity out of fear of retaliation. The agency’s systems contain financial data, employment information and addresses for anyone with a Social Security number.“S.S.A. has comprehensive medical records of people who have applied for disability benefits,” said Nancy Altman, president of Social Security Works, a group that promotes the expansion of Social Security. “It has our bank information, our earnings records, the names and ages of our children, and much more.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Education Dept. Gives Schools Two Weeks to Eliminate Race-Based Programs

    The department’s Office for Civil Rights warned that it would penalize schools that consider race in scholarships, hiring and an array of other activities.The Education Department warned schools in a letter on Friday that they risked losing federal funding if they continued to take race into account when making scholarship or hiring decisions, or so much as nodded to race in “all other aspects of student, academic and campus life.”The announcement gave institutions 14 days to comply. It built on a major Supreme Court ruling in 2023 that found that the use of race-conscious admissions practices at colleges and universities was unlawful. But it went far beyond the scope of that decision by informing schools that considering race at all when making staffing decisions or offering services to subsets of students would be grounds for punishment.The letter was the latest step in the Trump administration’s push to recast programs intended to level the playing field for historically underserved populations as a form of racial discrimination. It also appeared to be an extension of the broadsides President Trump has delivered to purge diversity, equity and inclusion initiatives from the federal government, which critics have assailed as veiled racism.Craig Trainor, the Education Department’s acting assistant secretary for civil rights, said related programs and scholarships, many of which have historically sought to help Black and Latino students attain college degrees or find community, had come at the expense of “white and Asian students, many of whom come from disadvantaged backgrounds.”“At its core, the test is simple: If an educational institution treats a person of one race differently than it treats another person because of that person’s race, the educational institution violates the law,” Mr. Trainor wrote.“Put simply, educational institutions may neither separate or segregate students based on race, nor distribute benefits or burdens based on race,” he said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More