Tariffs are back: President Donald Trump’s 15% global levy will begin this week, Treasury Secretary Scott Bessent said Wednesday.

Trump announced the new global import tax after the Supreme Court struck down his sweeping tariff agenda last month. Bessent said on CNBC’s Squawk Box that the administration will evaluate whether other laws could be used to raise tariffs to their previous levels.

“It’s my strong belief that the tariff rates will be back to their old rate within five months,” Bessent said. Stock indexes fell just after his comments, though they ended the day positive.

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It’s been a stronger-than-expected start to the year for the job market, as private-sector payrolls rose in February—it was the largest single-month increase since July 2025, a report from ADP showed. Still, Nela Richardson, ADP’s chief economist, said hiring was concentrated in only a few sectors, as education and health services led most of the job growth.

The war in Iran has sparked concern that higher energy prices could worsen inflation and complicate hopes for the Federal Reserve to slash interest rates. Other economists say it’s too soon to know what the impacts will be, though there’s a “growing risk” of disruptions “[piling] on top of one another, amplifying the hit,” wrote Oxford Economics’ chief economist Ryan Sweet.

Bitcoin has rallied since the U.S. and Israel launched strikes against Iran, surging 7% on Wednesday, along with other cryptocurrencies. It’s a welcome reversal for bitcoin after prices tanked near the start of February to lows not seen since 2024.

WEALTH + ENTREPRENEURSHIP

Egyptian billionaire Nassef Sawiris will replace longtime Adidas chairman Thomas Rabe at the company’s shareholder meeting in May. Sawiris, an investor and member of Egypt’s richest family with a net worth estimated at $9.2 billion, is already a major shareholder in the sportswear brand, which reported record-high revenues of $28.9 billion in 2025.

Apple unveiled a cheaper laptop, the “MacBook Neo,” priced at $599—significantly less than Apple’s most affordable laptop from the current generation of devices, the $1,099 MacBook Air. Still, the next MacBook Air and Pro that were also announced this week will have higher price tags compared to last year’s models.

A U.S. submarine sank an Iranian warship in international waters with a torpedo—the first time the military has done so since World War II, Defense Secretary Pete Hegseth confirmed. Though Hegseth did not immediately name the sunken Iranian ship, the Sri Lankan navy said it rescued 32 critically injured Iranian sailors after receiving a distress call from the IRIS Dena—a destroyer with a crew of about 180.

Attorney General Pam Bondi will be subpoenaed to testify in the House Oversight Committee’s investigation into Jeffrey Epstein following a vote from the panel Wednesday. The committee voted 24-19 to subpoena Bondi, with five Republicans voting in favor, and the vote came one day after Commerce Secretary Howard Lutnick agreed to testify in the investigation.

This New Company Will Build Ukraine’s Deadly Drone Boats For Western Militaries

In the last few years, Iran’s allies in Yemen have mounted several attacks on oil freighters using sea drones. But an attack over the weekend marked the first time an unmanned drone boat has been used in the current Gulf conflict, which began Saturday when the U.S. and Israel attacked Iran.

Autonomous boats are increasingly becoming a part of modern warfare—most notably, in the Ukraine war, where the country has effectively used them to take on Russia’s much more powerful navy. At the start of the war in 2022, the Russian Black Sea fleet was threatening Ukraine’s coast line and blocking critical grain exports. Just over four years later, it is largely confined to port in Sevastopol, Crimea, thanks to a series of attacks mounted by a fleet of drone boats operated by Ukraine’s intelligence services.

The speedboat-sized unmanned vessels, laden with explosives, have been responsible for at least 16 strikes where they rammed head on into Russian Navy vessels. The boats, dubbed Magura, have now also been kitted out with surface-to-air missiles, and have been credited with downing at least two Russian fighter jets.

Now a new defense company plans to start selling a version of the Ukraine’s Magura to other NATO militaries. Uforce has taken majority investments to “roll up” several Ukrainian companies, including the makers of the Magura, to expand production outside Ukraine, and adapt its weapons for western militaries. Uforce’s CEO Oleg Rogynskyy is betting that NATO admirals and generals will want to buy such battle-tested drones over largely unproven and expensive gear from American and European startups.

WHY IT MATTERS It’s not a given that what works in Ukraine today will work for western militaries in a future conflict, given that drone technologies can have very short shelf lives, says James Acuna, the COO of defense investment company Ondas Capital. “What’s really valuable here is what is in the heads of the Ukrainian drone builders and operators, what they have learned and how they have adapted to Russian countermeasures,” he says.

MORE The Fall Of Iran And Venezuela Are A Boon For Oil Tanker Billionaires

A growing number of states and families are suing online gaming platform Roblox, accusing it of failing to protect young users from child predators and implementing allegedly insufficient safety updates. Nebraska became the latest state to to sue the company this week:

151.5 million: The number of daily active users the platform has as of the third quarter of 2025

145: The number of new safety updates the company told Forbes it had implemented in 2025, after Texas sued Roblox in November

‘Playground for predators’: How Nebraska Attorney General Mike Hilgers referred to the gaming company, saying Roblox has built a “multibillion‑dollar business on the trust of families.”

The old adage to “follow your passion” is misguided particularly for young people because, for most, passion develops over time. Start by staying curious, and being intentional and aware of which skills you’re mastering. Lastly, pay attention to how you feel when you see your work genuinely make an impact on others.

IT billionaire Leo KoGuan, who once claimed to be one of the largest individual shareholders in Tesla, said Wednesday that he’d purchased 1 million shares of a Magnificent 7 firm. Which company is it?

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