Marc Filippino
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And that's why US President Donald Trump and American lawmakers are pushing to try and suspend the federal tax on gas.
What impact could these higher fuel prices have on the economy down the line?
Okay, so the war has caused inflation to skyrocket, and higher prices could ultimately lead to lower economic output.
Can you explain this domino effect and how big of a hit to gross domestic product we could see?
So you have this perfect storm here of a massive amount of lost output plus higher fuel prices, higher prices generally caused by the war in Iran.
This is really tough for President Trump, who ran in 2024 on affordability.
Given the economic impact that we're talking about, how big of a problem is it for him and the Republican Party in the run-up to this fall's midterm elections?
Claire Jones is the FT's U.S.
In an update on last week's unsolicited bid by GameStop to buy eBay, it was pretty short-lived.
eBay rejected the $56 billion offer yesterday.
In a letter to GameStop, eBay said it had concerns over the risks of combining the two companies, the video game retailer's governance, and the deal's financing.
eBay, after all, is four times more valuable than GameStop.
But this rejection could push GameStop CEO Ryan Cohen to launch a hostile bid.
Like we talked about last week, he hasn't ruled out taking his offer directly to eBay shareholders.
GameStop did not immediately respond to requests for comment.
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