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The Small Business Administration (SBA) will now be responsible for handling federal student loans for more than 40 million Americans, taking over that responsibility from the Department of Education a day after President Donald Trump signed an executive order to dismantle the education agency. The announcement comes at the same time that the SBA said it is cutting 43% of its staff and restructuring the agency “to eliminate wasteful spending,” as part of the Trump administration’s cost-cutting agenda. We have a portfolio that is very large, lots of loans, tens of thousands of loans, pretty complicated deal, President Donald Trump said to reporters at the White House on Friday. Theyre all set for it. Theyre waiting for it. However, critics have said this could create chaos and confusion for millions of American borrowers. Currently, the U.S. federal education debt exceeds $1.6 trillion, according to CNBC. As CBS News noted, the SBA employs less than half a percent of the entire federal workforce, or roughly 6,500 people. Under the reorganization plan, the agency will eliminate approximately 2,700 jobs, which the agency said would save more than $435 million a year by next fiscal year. The SBA said in a statement that its reorganization will not impact its core services, which include loan guarantees and disaster assistance programs, and field and veteran operations; but it will refocus on supplying capital, fostering innovation, supporting veteran small business owners, and providing timely disaster relief “in support of President Trumps economic agenda.” It remains unclear how cutting the SBA’s budget, staff, and programs could benefit American small businesses. According to the statement, Trump’s agenda is aimed at reversing “the broad and costly expansion of the SBA under the Biden Administration.” The Trump administration claims the agency has doubled since the pandemic to help hard-hit small businesses through its programs, including the Green Lender Initiative, the Community Navigator Pilot Program, and DEI activities. “In the last four years, the agency has veered off trackdoubling in size and turning into a sprawling leviathan plagued by mission creep, financial mismanagement, and waste,” said SBA Administrator Kelly Loeffler. “Instead of serving small businesses, the SBA served a partisan political agendaexpanding in size, scope, and spending.” A full list of the key features of the SBA’s reorganization can be found here.
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E-Commerce
If the thought of being hunted by something that can see your every move makes your skin crawl, you might want to steer clear of Eyes Never Wake. This viral horror game takes immersion to the next level, using your webcam to let a lurking monster track your movements in real time. To survive, players must physically move to avoid detectionducking under desks, leaning out of sight, and staying perfectly still as the creature stalks the room. The game doesnt stop at just watching. It listens, too. The game listens, too. With your mic always on, the AI-driven entity reacts to sound, forcing players to stay silent to avoid being found. Every corner you turn is a chance for it to catch you. Listen closely, stay quiet, and be ready to hide your face at all costs, the game warns. Currently available to wishlist on Steam, Eyes Never Wake has already drawn massive interest online. Its initial post on X racked up over 5.4 million views, with users calling it next level and peak content for VTubers. In my horror game, the monster SEES YOU THROUGH YOUR WEBCAM. Hide by physically ducking beneath your real-life desk while exploring a strange game not meant to be played.Steam link in comments!#horrorgames #horror #WishlistWednesday pic.twitter.com/JtPsLMnQg1— Heder | Eyes Never Wake (@Hederlunden) March 12, 2025 And no, you cant cheat the system. Covering your webcam wont helpthe game detects uniform objects and disables movement if the camera is blocked. No, you can’t just cover the webcam, the developer, Allan Hedlund, confirmed. If you do, your character wont be able to move. That said, streamers who prefer to stay off-camera can opt to hide their face in-game while still using the webcam mechanics. Its worth noting that, according to Hedlund, no footage or data is uploaded or stored. Totally get that, Hedlund responded on X to concerns. The game simply uses OpenCV and OpenCV for Unity for face recognition with pre-trained models. Everything runs locallynothing gets sent to any server. And you can always turn the mechanic off at any time. While Eyes Never Wake doesnt have a confirmed release date yet, its set to launch soon on Steam.
Category:
E-Commerce
Shares in Nike (NYSE: NKE) are falling in early-market trading after the company announced its Q3 2025 results yesterday. Currently, NKE shares are down around 8% as investors digest not just the companys most recent earnings results, but the statements the shoe giant made about its current Q4, which ends in May. Heres what you need to know about Nikes stock price drop. Not as bad as expected Yesterday, Nike announced its results for its third quarter of fiscal 2025, which ended on February 28. The quarter is arguably the most important in Nikes fiscal calendar year as it encompasses the month of December when shoppers are out and about buying gifts for the holiday season. Unfortunately, Nikes results were down in several key categories during Q3: Revenue: $11.3 billion down 9% Nike Direct revenues: $4.7 billion down 12% Wholesale revenues: $6.2 billion down 7% Diluted earnings per share (EPS): 54 cents Now, there are some small highlights to the companys earnings announcements, as noted by CNBC. Nike posted an EPS of 54 cents for the quarter. Though that is down from the EPS of 77 cents for the quarter a year earlier, it still beat estimates of an EPS of 29 cents for Q3 2025. Likewise, while its revenue of $11.3 billion was down from its revenue of $12.4 billion a year earlier, its Q3 2025 revenue beat consensus estimates of $11.01 billion. In other words, while Nike did worse than year-over-year, the company did not do as badly as some analysts had anticipated. Q4 warnings rattle investors Despite beating estimates, Nike stock is still trading much lower this morning. Yesterday, the companys share price closed at $71.86, but today, the companys stock price is down around 8% as of the time of this writing to below $66.50 per share. The main reason for that drop seems to be investor jitters over the companys warnings about its current Q4, which ends in May. As noted by CNBC, Nike has warned that it is in for a rough Q4. Why? The company cited declining consumer confidence and President Trumps tariffs on China as two main factors. Since Trump took office in January, the stock market has tumbled, and concerns have increased as expertsand increasingly, consumersfear that the president’s policies are negatively impacting the economy. Trump has initiated a number of tariffsor threats of tariffsagainst America’s largest trading partners, including Mexico, Canada, and China. Tariffs of as much as 20% have already gone into effect against Chinaand thats a problem for Nike. CNBC says that around 24% of Nikes suppliers and manufacturers are in China. If there is now a 20% tariff on those goods imported into the country, Nike will either need to eat the cost, find a way to push the costs onto its suppliers, or pass those costs onto consumers. This means that Nike could take a hit to its margins, or the company could be forced to raise prices, which may alienate already cash-strapped consumers. Many Nike products are considered discretionary goods (consumers don’t need them to survive). And if the economy continues to sour and prices continue to rise, consumers will reduce their spending on discretionary goods in order to afford necessities. In a conference call with analysts, CNBC says Nike CFO Matt Friend addressed Nikes current challenges directly, stating the company is navigating through several external factors that create uncertainty in the current operating environment, including geopolitical dynamics, new tariffs, volatile foreign exchange rates and tax regulations, as well as the impact of this uncertainty and other macro factors on consumer confidence. Nike says it expects its sales to be down in Q4, with CNBC reporting that Friend said sales will likely be at the low end of the mid-teens range. Shares down more than 34% Not only are Nike shares down today after the companys Q3 earnings and Q4 warnings, Nike stock is down for both the 2025 calendar year and down over the past 12 months. Since the beginning of 2025, Nike shares have lost around 13% of their value as of the time of this writing. And over the past 12 months, NKE shares have declined more than 34%.
Category:
E-Commerce
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