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Congressional stock trading has fallen off sharply this year, according to an analysis by a popular financial news site and some insiders believe its because US lawmakers are feeling heat from a possible legislative clampdown.

The volume of stock trades made by members of Congress tumbled more than 75% in the nine months of this year to just 1,800 trades versus 8,000 a year earlier, according to data from Unusual Whales. 

Former House Speaker Nancy Pelosi has made just six trades this year as a congresswoman representing San Francisco. Those include selling Roblox shares, buying Apple and Microsoft shares and acquiring a stake in a luxury hotel, according to recent filings.

Thats a steep dropoff from the 39 trades she made in 2022, the 24 trades she made in 2021, and the 38 trades she made in 2020.

A spokesperson for Pelosi did not respond to a request for comment.

While the markets have been bumpy this year, overall trading volume is down just 10%, according to CBOE data, versus the three-quarters plunge inside Congress.

Passing legislation, sources say, is critical to keep Congress from trading again.

If a movement doesnt turn into a law, Congress isnt going to remain scared, Jeff Hauser, founder of nonprofit watchdog the Revolving Door Project, said. The combination of a bill that could pass and the broader conversation acts as a deterrent.

Ethics experts say the another reason may simply be that members dont feel the trades are worth the trouble anymore.

Federal Reserve governors Eric Rosengren and Robert Kaplan resigned after scrutiny of their trades. Now-retired Sen. Richard Burr stepped down as Chair of the Intelligence Committee and now-ex-Sen. James Inhofe resigned after scrutiny of trades. 

It may not be worth the grief, Charles Stewart III, a political science professor at MIT, told On The Money.

The founder of Unusual Whales, who prefers to remain anonymous, notes that members of Congress have lately been far more diligent about filing their trades quickly. The STOCK Act requires members to file their trades within 45 days but members of Congress like Pelosi lately are filing within just a few days.

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There is limited upside and maybe a lot of downside to congressional trading these days, agrees Thomas Hayes, chairman at Great Hill Capital. Shining a light on this has played a big role.

Another issue: Some of the most lucrative, valuable stocks like Google and Amazon which Pelosi had snatched up are presenting an even greater conflict of interest than they did previously.

The tech high flyers that many members wanted to trade in are politically fraught these days a reference to lawsuits both Google and Amazon are facing, Stewart adds.

While some applaud the recent trend, others are more cautious and note stronger laws against stock trading need to be codified. 

Attention helps and attention makes transparency more effective, Jeff Hauser, founder of nonprofit watchdog the Revolving Door Project, said. But even more effective than transparency is strict rules.

As for the question of whether regulators will ever be willing to regulate themselves, the answer is almost always no. Still, Hauser is optimistic that with enough sticks not to mention the dwindling supply of carrots lawmakers could eventually succumb. 

If the momentum grows big enough, it could pass, Hauser said. And it only has to pass one time.

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Venezuela’s president pleads for peace after Trump sends in CIA

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Trump refuses to say if CIA has authority to assassinate Venezuela's president

Venezuela’s President Nicolas Maduro has accused the US of a coup attempt after Donald Trump approved CIA operations in the country to tackle alleged drug trafficking.

Mr Trump confirmed his decision, first revealed by The New York Times, as he said large amounts of drugs were entering the US from Venezuela – much of it trafficked by sea.

“We are looking at land now, because we’ve got the sea very well under control,” he said.

When asked why the coastguard wasn’t asked to intercept suspected drug trafficking boats, which has been a longstanding US practice, Mr Trump said the approach had been ineffective.

“I think Venezuela is feeling heat,” he said.

Donald Trump at the White House on Wednesday evening. Pic: Reuters
Image:
Donald Trump at the White House on Wednesday evening. Pic: Reuters

Maduro hits back

He declined to answer whether the CIA has the authority to execute Mr Maduro, who denies accusations from Washington that he has connections to drug trafficking and organised crime.

The US has offered a $50m (£37m) reward for information leading to his arrest.

“How long will the CIA continue to carry on with its coups?” he asked after Mr Trump’s comments on Wednesday evening, saying calls for regime change harkened back to “failed eternal wars” in Afghanistan and Iraq.

In a message to the American people, he said in English: “Not war, yes peace. The people of the US, please.”

President Nicolas Maduro. Pic: Reuters
Image:
President Nicolas Maduro. Pic: Reuters

US targets ‘drug boats’

Mr Trump also alleged Venezuela had sent a significant number of prisoners, including individuals from mental health facilities, into the US, though he did not specify the border through which they reportedly entered.

On Tuesday, he announced America had targeted a small boat suspected of drug trafficking in waters off the Venezuelan coast, resulting in the deaths of six people.

According to the president’s post on social media, all those killed were aboard the vessel.

Read more from Sky News:
Pakistan agrees to ceasefire with Afghanistan after
Venezuela opposition leader wins Nobel Peace Prize

Footage of the strike was released by Donald Trump on social media. Pic: Truth Social
Image:
Footage of the strike was released by Donald Trump on social media. Pic: Truth Social

The incident marked the fifth such fatal strike in the Caribbean, as the Trump administration continues to classify suspected drug traffickers as unlawful combatants to be confronted with military force.

War secretary Pete Hegseth authorised the strike, according to Mr Trump, who released a video of the operation.

The black-and-white footage showed a small boat seemingly stationary on the water. It is struck by a projectile from above and explodes, then drifts while burning for several seconds.

Mr Trump said the “lethal kinetic strike” was in international waters and targeted a boat travelling along a well-known smuggling route.

There has also been a significant increase in US military presence in the southern Caribbean, with at least eight warships, a submarine, and F-35 jets stationed in Puerto Rico.

‘Bomb the boats’: Bold move or dangerous overreach?

It’s a dramatic – and risky – escalation of US strategy for countering narcotics.

Having carried out strikes on Venezuelan “drug boats” at sea, Trump says he’s “looking a” targeting cartels on land.

He claims the attacks, which have claimed 27 lives, have saved up to 50,000 Americans.

By framing bombings as a blow against “narcoterrorists”, he’s attempting to justify them as self-defence – but the administration has veered into murky territory.

Under international law, such strikes require proof of imminent threat – something the White House has yet to substantiate.

Strategically, Trump’ss militarised approach could backfire, forcing traffickers to adapt, and inflaming tensions with Venezuela and allies wary of US intervention.

Without transparent evidence or congressional oversight, some will view the move less like counterterrorism and more like vigilantism on the seas.

The president’s “bomb the boats” rhetoric signals a shift back to shock and awe tactics in foreign policy, under the banner of fighting drugs.

Supporters will hail it as a bold, decisive move, but to critics it’s reckless posturing that undermines international law.

The strikes send a message of strength, but the legal, moral and geopolitical costs are still being calculated.

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Environment

Trump says Modi assured him India will stop Russian oil purchases, but timeline unclear

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Trump says Modi assured him India will stop Russian oil purchases, but timeline unclear

The India-flagged oil tanker Desh Ujaala is pictured in the Gulf waters near Al-Basrah Oil Terminal (ABOT), about 50 kilometres offshore of Iraq’s southern Faw peninsula, on August 5, 2025.

Hussein Faleh | AFP | Getty Images

U.S. President Donald Trump said Wednesday that Indian Prime Minister Narendra Modi told him New Delhi will stop buying oil from Russia, though the move will take time.

“[Modi] assured me today that they will not be buying oil from Russia. That’s a big stop.” Trump said at the press briefing in the Oval Office. “Now we’ve got to get China to do the same thing.”

He added that Washington was unhappy with New Delhi’s purchases of Russian crude because it allowed Moscow to continue waging its “ridiculous war” in Ukraine.

However, the U.S. president also said that the halt will not be immediate, and there will be “a little bit of a process,” without giving a clear timeline.

India’s external affairs ministry said Friday that the country’s oil import decisions are driven by efforts to protect consumers by ensuring stable energy prices and securing supplies.

The ministry’s priority was to “safeguard the interests of the Indian consumer in a volatile energy scenario,” External Affairs Ministry spokesperson Randhir Jaiswal said in a statement.

He added that India’s import policies are guided “entirely” by that goal.

Jaiswal said that India has sought for years to expand energy trade with the U.S. “This has steadily progressed in the last decade,” he said, adding that “the current Administration has shown interest in deepening energy cooperation with India. Discussions are ongoing.”

India and Russian crude

India’s imports of Russian oil have been a sticking point in the relationship between Washington and New Delhi. Trump slapped additional tariffs of 25% on India back in August, raising the total levy to 50%, while India has called out the U.S. for its trade with Russia.

“If India doesn’t buy [Russian] oil, it makes [ending the war] much easier,” Trump said. “They assured me within a short period of time, they will not be buying oil from Russia, and they will go back to Russia after the war is over.”

On Thursday, Brent crude futures climbed 0.82% to $62.43 a barrel by 10:31 p.m. ET, while U.S. West Texas Intermediate futures climbed 0.89% to $58.79.

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India is one of the biggest buyers of Russian oil. Data from research firm Kpler shows Russia exports about 3.35 million barrels of crude per day, with India taking about 1.7 million and China 1.1 million.

New Delhi has defended those purchases, with Energy Minister Hardeep Singh Puri telling CNBC in July that New Delhi helped stabilize global energy prices and was encouraged by the U.S. to do so.

“If people or countries had stopped buying at that stage, the price of oil would have gone up to 130 dollars a barrel. That was a situation in which we were advised, including by our friends in the United States, to please buy Russian oil, but within the price cap,” Puri said.

Russian sales of crude oil have been placed under a price cap by the G7 nations and the European Union since Moscow’s 2022 invasion of Ukraine.

That price cap, set at $47.6 per barrel, aims to limit Moscow’s revenue from oil exports, constricting the country’s ability to finance its war in Ukraine.

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Technology

TSMC hits yet another record as profit surges 39%, beating estimates on AI chip demand surge

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TSMC hits yet another record as profit surges 39%, beating estimates on AI chip demand surge

The TSMC logo is displayed on a building in Hsinchu, Taiwan April 15, 2025.

Ann Wang | Reuters

Taiwan Semiconductor Manufacturing Company on Thursday reported a 39.1% increase in third-quarter profit from last year, hitting a fresh record as demand for artificial intelligence chips stayed strong.

Here are the company’s results versus LSEG SmartEstimates:

  • Revenue: NT$989.92 billion new Taiwan dollars, vs. NT$977.46 billion expected
  • Net income: NT$452.3 billion, vs. NT$417.69 billion 

TSMC’s revenue in the September quarter rose 30.3% from a year ago to NT$989.92 billion, beating estimates.

TSMC’s high-performance computing division, which encompasses artificial intelligence and 5G applications, drove third-quarter sales.

As Asia’s largest technology company by market capitalization, TSMC has benefited from the artificial-intelligence megatrend as it manufactures advanced AI processors for clients, including Nvidia and Apple.

TSMC said advanced chips, with sizes 7-nanometer or smaller, accounted for 74% of TSMC’s total wafer revenue in the quarter. 

In semiconductor technology, smaller nanometer sizes signify more compact transistor designs, which lead to greater processing power and efficiency. 

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