Morning brief: Trump’s CIA order; a claim on India oil; Samsung hits a record high

A day of significant global developments is underway, as President Donald Trump confirms he has authorized covert CIA action in Venezuela, makes a major claim about India’s energy policy, and the South Korean chip giant Samsung Electronics soars to a new all-time high.

Here’s your one-stop stand to catch up on all the headlines you may have missed.

President Trump confirms he has authorized covert CIA action in Venezuela

President Donald Trump has confirmed that he authorized the Central Intelligence Agency to take covert action in Venezuela, a move he says is necessary to stem the flow of drugs and illegal migrants into the United States.

When asked by reporters about a New York Times report on the matter, Trump said he authorized the action because Venezuelan leaders had “emptied their prisons in to the United States of America” and because “we have a lot of drugs coming in from Venezuela.” 

He rebuffed a reporter who asked if the CIA had the authority to assassinate President Nicolás Maduro, calling it a “ridiculous question for me to answer.”

Oil rises as Trump says India will stop buying Russian oil

Oil prices rose from a five-month low after President Donald Trump claimed that Indian Prime Minister Narendra Modi had vowed to halt all purchases of Russian oil, a move that would significantly squeeze global supply. Brent crude traded above $62 a barrel after sliding in the previous two sessions.

Trump’s claim did not include a timeline for the curtailment, and there has been no official confirmation from New Delhi. The alleged vow comes after the US has repeatedly criticized India for its purchases of discounted Russian crude. 

“This is bullish news for sure,” said Mukesh Sahdev, an analyst at Xanalysts.

Trump hosts a glitzy White House dinner for donors to a new ballroom

President Donald Trump welcomed nearly 130 deep-pocketed donors and corporate representatives for a lavish dinner at the White House on Wednesday to reward them for their contributions to a massive new ballroom project.

The ballroom, with a price tag now estimated at $250 million, is the most significant renovation of Trump’s second term.

The president told the assembled guests that the fundraising was going well and that the new space would be grand enough to hold a presidential inauguration.

Guests dined on beef Wellington and roasted Anjou pears as they were serenaded by a military string quartet.

Samsung Electronics shares have hit a new all-time record high

Shares of the South Korean chipmaker Samsung Electronics rose as much as 2 percent on Thursday to an all-time high, a powerful signal of investor optimism surrounding the global semiconductor industry.

Shares of the world’s leading memory chip maker hit a record of 96,900 won in the session, surpassing the previous record set in January 2021. The stock has now risen an incredible 80 percent so far this year, a rally that has been a key driver of the broader South Korean market.

A US government shutdown could cost the economy 15 billion dollars a week

The ongoing federal government shutdown, now in its second week, may be costing the US economy as much as $15 billion a week in lost output, a Treasury official said late on Wednesday.

The official was correcting an earlier, incorrect statement from Treasury Secretary Scott Bessent that had put the cost at up to 15 billion dollars per day.

Bessent told a news conference that the shutdown was starting to “cut into muscle” of the US economy and was the “only thing slowing us down.”

The US is again buying Argentine pesos and is working on a $20 billion debt facility

The US has once again purchased Argentine pesos in the open market, Treasury Secretary Scott Bessent confirmed on Wednesday.

He added that the department was also working with banks and investment funds to create a $20 billion facility to invest in the South American country’s sovereign debt.

The new facility would sit alongside a new 20 billion dollar U.S. currency swap line, providing a total of $40 billion in support for Latin America’s third-largest economy as it battles a currency crisis.

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