Afternoon Coffee: Trump Administration Reveals Infrastructure Plan, Winter Olympics Hit by Cyberattack

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President Trump unveiled his infrastructure spending plan Monday, which aims to turn $200 billion of federal money into $1.5 trillion to fix America’s deteriorating infrastructure, CNN reports. The bulk of the plan rests on states matching federal contributions with their own revenue sources. A specific funding mechanism for the federal portion, however, was not immediately specified.

Olympic Cyberattack

The opening ceremony of the Pyeonchang Winter Olympics was hit by a cyberattack, officials confirmed Sunday. As the Guardian reports, the attack took down the official Pyeongchang 2018 site, which prevented users from accessing information and printing tickets. While rumors suggest Russia may have conducted the attack as revenge for the doping ban placed against the country, officials have refused to confirm or deny the accusations.

“Do Not Drive” 

Ford expanded its warning not to drive pick trucks with potentially defective Takata air bag inflators to an additional 33,000 vehicle owners, up from the initial 2,900 contacted in January, according to Reuters. The National Highway Traffic Safety Administration (NHTSA) said the vehicles pose “an immediate risk to safety” and urged owners to immediately schedule a free repair. 

Rising Costs 

And finally, a supply update: Rising material and ingredient costs are starting to put pressure on U.S. manufacturers and food companies, the Wall Street Journal reports, just as the tightening labor market has finally begun to push wages higher. The resulting inflation has caused firms like Whirlpool to forecast additional raw material costs that could eat into their profit margins.

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