The Trump administration is seeking a $1 billion settlement from the University of California, Los Angeles, a White House official said Friday. The person was not authorized to speak publicly about the request and spoke on condition of anonymity. The Trump administration has suspended $584 million in federal grants, the university said this week.

No location has been set for a potential meeting between the two leaders, but officials are eying the United Arab Emirates, Hungary, Switzerland and Rome.

President Donald Trump’s deadline for Russia to end its war in Ukraine or suffer severe economic punishment expires Friday, but it’s unclear how he plans to proceed amid new efforts toward a summit with Vladimir Putin and delicate trade negotiations with China.

Gold futures on Comex were up 0.1% at $3,456.80 an ounce Friday afternoon, retreating from a record high at $3,534.20 an ounce set after a ruling by the U.S. Customs and

The global gold market has been thrown into fresh turmoil after a US government agency indicated that bullion would not be exempt from tariffs.

The White House intends to issue an executive order in the near future "clarifying misinformation" about tariffs on gold bars and other specialty products, a White House official told Reuters on Friday.