Ed Kalegi

The Trump administration is moving ahead with a plan to remake the U.S.

immigration detention system.

Bloomberg's Amy Morris has the details from Washington.

After years of restraint following the 2008 global financial crisis, Wall Street is handing CEOs a record payout.

Chief Executive Officers at the top U.S.

banks all received annual compensation of at least $40 million.

with their total pay surpassing records set in 2006 and 2021.

Bank of America's Brian Moynihan was the latest CEO to have his pay disclosed, with his compensation rising 17% last year to $41 million.

Citigroup said this week that it boosted the pay of CEO Jane Fraser 22% to $42 million for 2025, a sign of confidence from the board about her ability to turn the company around after years of underperforming peers.

Just in time for tax season, the Treasury Department and the IRS have released new guidance on restrictions to clean energy tax credits under President Trump's tax and spending cut law.

Bloomberg's Nathan Hager has the story from Washington.

In Washington, I'm Nathan Hager, Bloomberg Radio.

Western officials say China increased its support for Russia's war in Ukraine in 2025 and is likely to deepen cooperation with Moscow further this year.

casting doubt on efforts by European leaders to improve relations with Beijing.

President Xi Jinping has become more assertive and confident in his supporting Russia's Vladimir Putin, and attempts by the Europeans to persuade their Chinese counterparts to help end the war have become more challenging over the past year.

Russia's war in Ukraine wouldn't be able to continue without ongoing Chinese support, particularly the export of dual-use components and critical minerals used in Russian drone production.

Checking the medal count at the Winter Olympics, Norway leads with 20, Italy is second with 18, the U.S.

third with 17.

That's news when you want it with Bloomberg News Now.

I'm Ed Kalecki.