French container line CMA CGM is partnering with Saigon Newport Corp. on a $600-million container terminal project in north Vietnam.The post CMA CGM developing $600M Vietnam container terminal appeared first on FreightWaves.
"We Are In Very Grave Danger As A Nation" Deep-State Expert Warns South Africa's Genocide Is Going Global Via Greg Hunter’s USAWatchdog.com,Journalist Alex Newman, author of the popular book “Deep State” and the recent best-selling book called “Indoctrinating Our Children to Death,” is warning people to pay attention to the genocide of white farmers in South Africa. What is happening there is something the Deep State wants to take global in their tyrannical takeover of all life and property on Earth. Newman, who once lived in South Africa, warns, “What’s happening down there to them is a microcosm, and that’s what they have planned for you, your country, your family and what’s left of the Christian West...""What I have documented (in 2012) very clearly and very unambiguously is this racist, murderous, communist program taking place in South Africa was backed by the highest levels of Deep State power. This includes the Council on Foreign Relations (CFR), the US State Department, including their allies and partners in Great Britian, and they all knew the Soviet Union was behind this and other communist governments were behind this. This is a monstrosity piled on a monstrosity and, again, what they are doing to the Afrikaners (white farmers) now, they plan to do to you as soon as they get the opportunity. Instead of amalgamating all these nations under a South African government, they want to amalgamate all these nations under a one world system. Barack Obama has said over and over again that he was inspired to get into politics because of what they were doing in South Africa. This all comes together here–and you are next. That’s why it’s important to watch what is happening in South Africa.”What are the tools the Deep State uses to gain total control? Look no further than the new global UN pandemic treaty and the huge push for climate change laws to give control to a few people at the top. Let’s start with the recently passed UN pandemic treaty, which President Trump cancelled for America. Newman says, “They have a clause about ‘misinformation,’ which means you can’t speak out or ask questions about what injections they demand you and your children take. It’s got digital infrastructure . . . . So, they will track everything, which will pave the way for international vaccine passports. . . . It gives exemptions (to drug makers) and fast tracks the same outrageous process that we have seen before in emergency use authorization (EUA). That is whatever crazy concoction they come up with and then tell us all what we need. It is everything that was wrong with Covid on steroids enshrined into international law.”The Climate Change hoax is equally disturbing. Newman says, “It’s not just our wealth that they are taking. They are taking from us our ability to produce wealth..."" This dawned on me in Paris. I was at the climate summit there around 2015. You had Barack Obama pledging to slash American CO2 emissions by a third over the next decade. This is essentially chopping American economic activity down. Meanwhile, the Communist Chinese were pledging they were going to keep increasing their CO2 emissions. To their credit, they absolutely lived up to that. . .. So, what happened was as we were shutting down our power plants and stopping energy production in this country . . . ...this was making manufacturing and business uncompetitive if you were operating in a global market. You could not continue doing business in the United States with energy prices skyrocketing while energy prices in China were stable or going down. They hollowed out our productive capacity and moved it over to Communist China under the scam of ‘Saving the Climate’. . .. That’s what is going on here, and Trump got us out of this whole thing. You cannot overstate the significance of this.”Newman fears America is much closer to a violent takeover attempt by the Deep State. Newman says, “The Leftists, the totalitarians, the people that want to do to us what they are doing to the South Africans right now want a civil war in this country. A lot of people on our side don’t see this...They don’t realize very dangerous forces are being unleashed across our country. They are preparing for an uprising, a violent revolution and violence in the streets. They are deliberately trying to do this.... We just saw this guy shooting a couple of embassy workers, and I think this is just the beginning for what they are preparing. They brought in special operators from Communist China. They brought in intelligence assets and gangsters from Venezuela and Cuba. They are preparing to stir up domestic conflict that we have never seen before......I think we are in very grave danger as a nation, and I don’t say this to scare anybody. The Lord does not give us the spirit of fear. I say this so we can understand it and prepare better for it and, hopefully, prevent it. . .. Sun Tzu, the Chinese military expert, said, ‘If you know yourself and you know your enemy, you are going to win every battle.’ We have to have a good understanding of the enemy, or we are not going to win.”There is much more in the 50-minute interview.Join Greg Hunter of USAWatchdog.com as he goes One-on-One with hard-hitting journalist Alex Newman, founder of LibertySentinel.org and author of the runaway best-selling book called “Indoctrinating Our Children to Death,” for 5.24.25.Newman’s website is called LibertySentinel.org. There is lots of free information and articles.To order Newman’s recent best-selling book called “Indoctrinating Our Children to Death,” click here.For a copy of Alex Newman’s popular book “Deep State,” click here. Tyler DurdenTue, 05/27/2025 - 22:35
This was CNBC’s live blog covering European financial markets.European stock markets close higher European stocks closed broadly higher on Tuesday, rounding off a calmer session following recent market rumbles.The pan-European Stoxx 600 index finished 0.33% higher as expectations built that eye-watering 50% U.S. tariffs on the European Union — threatened by U.S. President Donald Trump on Friday last week — will be averted by a trade deal.Germany’s DAX index closed 0.83% higher at 24,226.49 points, surpassing its record closing high set last Wednesday.Defense stocks including Hensoldt were among the best performers Tuesday, with fighting raging in the ongoing Russia-Ukraine war and Trump trading barbs with Russian officials, dampening hopes of a ceasefire. The European Union, meanwhile, signed off a previously announced 150 billion euro ($170 billion) arms fund aiming to boost regional security.Juliane Sonntag | Photothek | Getty ImagesThe German flag is flying on top of the Reichstag building in front of a stormy sky on May 16, 2025 in Berlin, Germany.Attention was also on the bond market following last week’s global sell-off. Government bond yields dipped in the U.S. and across most of Europe — a sign of higher prices and demand — after Reuters reported Japan may cut its issuance of longer-dated debt in response to rising borrowing costs. A lower supply of Japanese government bonds could push investors into other markets.That’s all from the Europe markets team today. On Wednesday we’ll be watching the production output meeting of oil alliance OPEC+, and earnings from U.S. tech giant Nvidia. See you tomorrow.— Jenni ReidEuropean and U.S. stock markets trade higherEuropean bourses are broadly higher in late deals, with the regional Stoxx 600 index up 0.45% and Germany’s DAX up nearly 1% at 4 p.m. in London.Markets are also in the green across the pond, with the Dow Jones Industrial Average trading 1.3% higher, the S&P 500 up 1.6% and the tech-oriented Nasdaq Composite popping 2%.— Jenni ReidThe EU is seeking to ‘quickly’ set dates for trade talks, Trump saysIn one of his regular morning updates on Truth Social, Trump said he is monitoring “positive” steps in trade talks with the European Union.It comes after markets cheered his decision to delay a 50% tariff on goods from the bloc until July 9.“I have just been informed that the E.U. has called to quickly establish meeting dates,” Trump wrote in a post on the social media platform.“This is a positive event, and I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America.”Read more here.— Katrina BishopOPEC+ must be ‘mindful’ of growing demand, UAE energy minister urgesThe influence OPEC+ oil producers’ alliance must bear in mind upcoming increases in global crude demand, the UAE energy minister said on the eve of a group ministerial meeting to decide output policy.“This group is doing its best, but it’s not enough only this group, we need the help of others,” Suhail Mohamed al-Mazrouei said Tuesday in a World Utilities Congress panel moderated by CNBC’s Dan Murphy.“We need to be mindful of the demand. Demand is picking up. And demand is going to surprise us, if we’re not investing enough.”His comments echo a position repeatedly expressed by OPEC+ ministers that oil producers should continue sustaining output capacity in order to avoid energy shortages throughout the green transition. Critics of the group argue that such investment runs contrary to decarbonization efforts.Ministers of the broader OPEC+ are holding a virtual gathering to decide formal production policy on Wednesday, before eight group members that have been separately implementing two sets of voluntary output cuts meet at the end of the week. This latter subgroup has been slowly unwinding some of its production trims since March.Oil prices have been depressed by the prospect of supply hikes and the U.S.-led trade war. The Ice Brent contract with July expiry was down 0.65% from the Monday close price at $64.32 per barrel at 2:25 p.m. London time, while the front-month July Nymex WTI futures hit $61.12 per barrel, 0.67% lower from the previous day’s settlement.— Ruxandra IordacheBritish pound climbs against euro, U.S. dollar surgesIn currency markets, the British pound is continuing its recent ascent against the euro, while the U.S. dollar broadly surges.Sterling was up 0.26% against the euro at 12:55 p.m. in London, last trading around 1.193 euros — up from 1.175 euros at the start of May.A series of better-than-expected data releases helped boost sentiment around the U.K. economy last week, while a spike in U.K. inflation to 3.5% in April from 2.6% in March has fueled expectations that the Bank of England will exercise more caution in rate cuts this year. Higher interest rates tend to support the value of a currency. The U.K. is also set to benefit from its recently-struck trade deal with the U.S., while the European Union remains mired in a tariff dispute with the White House.“The massive inflation shock last week means that the Bank of England’s recent hawkishness is fully validated and the pound looks set to remain the second highest-rate G10 currency after the dollar for the foreseeable future,” Enrique Diaz-Alvarez, chief economist at Ebury, said in emailed comments Tuesday.Elsewhere, the U.S. dollar index was 0.25% higher as the market eyes hopes for an EU trade breakthrough.ING strategists said in a Tuesday note that April’s market action showed the dollar “bears the brunt of tariff drama.”— Jenni ReidEuropean insurance giants take $3.5 billion hit from Los Angeles wildfiresRead the full story here.European Union ministers sign off on 150 billion euro arms fundMinisters from European Union countries on Tuesday approved a 150 billion euro ($170 billion) arms fund aiming to boost Europe’s security and defense.Their sign-off was the final legal step for establishing the Security Action for Europe financial instrument at a time when concerns are growing about attacks from Russia and the U.S.’ commitment to supporting Europe’s security.“SAFE is a new EU financial instrument that will support those member states that wish to invest in defence industrial production through common procurement, focusing on priority capabilities,” according to the Council of the European Union.— Sophie KiderlinEuropean government borrowing costs fallYields on government bonds ticked lower across the board in Europe on Tuesday morning, as investors continued to digest U.S. President Donald Trump’s pause on 50% tariffs on the European Union.The yield on German 10-year bunds, seen as a benchmark for the euro zone, was 4 basis points lower by 9:30 a.m. in London. The U.K.’s 10-year gilt yield dropped 4 basis points, while French 10-year government bond yields were also down by 4 basis points. Italian 10-year bond yields dipped 2 basis points, as their Swiss counterparts moved 4 basis point lower.Bond yields and prices move in opposite directions — so a rise in demand can push prices higher and yields lower.Regional government bonds with shorter and longer maturity periods also moved lower, with long-dated U.K. bonds — known as gilts — seeing the biggest movements. Yields on 20- and 30-year gilts edged 7 basis points lower.In a note to clients on Tuesday, Deutsche Bank’s Jim Reid argued that markets were becoming “more accustomed to Trump’s threats and now partly assume the full threat won’t immediately materialize.”“Interestingly the dollar hasn’t rallied since the news on Friday and has instead edged lower. Investors are seemingly of the view that continued aggressive tariff headlines chip away at investors desire to hold US assets,” Reid said. — Chloe TaylorFrench inflation cools to 0.6% in MayLorenzo Franzoni | Getty ImagesCheese on display in a delicacy store on May 23, 2025, in Cannes, France.Provisional data from Insee, France’s statistics office, pointed to annual harmonized inflation increasing by 0.6% in May.It marked a slowdown from April, when French inflation rose by 0.9% on an annual basis.Slowing inflation could be attributed to a decline in the price of services, Insee said as it released the data on Tuesday, alongside contracting energy costs. Food prices were bucking the trend and increasing in France.— Chloe TaylorEuropean stocks rise in early tradeEuropean stock markets have broadly risen in the first 15 minutes of the trading day.The Stoxx Europe 600 index opened 0.2% higher, while the FTSE 100 posted a gain of 0.8%.Meanwhile, France’s CAC 40 declined by 0.2% and Germany’s DAX held steady.— Ganesh RaoGerman consumers feel more optimistic — but they’re hesitant to spend as tariffs threat lingersCarsten Koall | Getty ImagesPeople walk past stores in Berlin’s Steglitz district on May 24, 2025.German consumer sentiment improved in May, the GfK Consumer Climate report showed on Tuesday, but U.S. tariffs policies were found to be dampening willingness to spend.The report marked the third consecutive month in which the index moved higher, driven in part by slowing inflation and “good wage settlements” — but despite the improvement, sentiment remained low and consumers were hesitant to make discretionary purchases, analysts said.“The unpredictable customs and trade policy of the US government, turbulence on the stock markets and fears of a third consecutive year of stagnation are reasons why the consumer climate remains weak,” Rolf Bürkl, consumer expert at the NIM, said in a statement on Tuesday. “In view of the general economic situation, people seem to think it advisable to save.”The GfK Consumer Climate, which surveyed around 2,000 German consumers between May 1 and May 12, was jointly published by NIQ and the Nuremberg Institute for Market Decisions.— Chloe TaylorSome UK retailers are lowering prices to get ahead of tariffs, BRC saysChris Ratcliffe | Bloomberg | Getty ImagesA home appliances store in Chelmsford, U.K., on Jan. 28, 2025.Diving deeper into the British Retail Consortium’s inflation data, it appears that some U.K. retailers may be strategically lowering prices in a bid to get ahead of looming U.S. tariffs.“Non-food prices remained in deflation, but this slowed in categories such as fashion and furniture as retailers began to unwind heavy promotional activity,” BRC chief Helen Dickinson said in a statement on Tuesday. “Prices were falling faster for electricals as retailers tried to encourage spending before any potential knock-on impact from U.S. tariffs.”In the non-food category, prices contracted by 1.5% year on year in May, the BRC’s data showed.U.S. President Donald Trump recently threatened a 25% tariff on Apple in a bid to force the tech giant into moving production into the United States — a move that some have cautioned would drastically raise prices of the company’s products. Last month, the U.K. and the U.S. agreed on the framework for a trade deal — but uncertainties remain around how the Trump administration’s tariffs policies will affect wider supply chains.— Chloe TaylorU.K. food inflation jumps for fourth month in a rowFood inflation in the U.K. rose by 2.8% year-on-year in May, according to the British Retail Consortium, marking the fourth consecutive month of price rises. The figure was up from 2.6% year-on-year growth in April, and above the three-month average of 2.6%.Helen Dickinson, Chief Executive of the BRC, said in a statement on Tuesday that fresh food prices were the main driver of the price rises, with wholesale beef prices increasing. She argued that increased costs being leveraged on businesses were having an inflationary impact.“With retailers now absorbing the additional £5bn in costs from April’s increased Employer National Insurance contributions and National Living Wage, it is no surprise that inflation is rearing its head once again,” she said.— Chloe TaylorEuropean stock markets expected to open slightly lowerEuropean stock markets are expected to have a mostly negative open on Tuesday.Futures contracts tied to the Stoxx Europe 600 index point to a 0.2% loss at the open, while Germany’s DAX is poised to be in the red by 0.1%. Meanwhile, France’s CAC 40 is expected to open flat, and the U.K.’s FTSE 100 is bucking the trend with a 0.8% gain.— Ganesh Rao
The Dow and other major indexes acted strongly Tuesday. An AI stock rallied while Nvidia rose ahead of earnings on the stock market today.The post Stock Market Today: Dow Jones, S&P 500 Look To Rebound On Tariff Delay; AI Name Rallies On Salesforce Deal News (Live Coverage) appeared first on Investor's Business Daily.
23andMe on Tuesday announced it will voluntarily delist from the Nasdaq and de-register with the U.S. Securities and Exchange Commission, according to a release. The move comes after Regeneron Pharmaceuticals said earlier this month that it will acquire “substantially all” of 23andMe’s assets for $256 million. The drugmaker came out on top following a bankruptcy auction for 23andMe, a once high-flying genetic testing company that filed for for Chapter 11 bankruptcy protection in March.This is breaking news. Please refresh for updates.
ANCHORAGE, Alaska & NEW YORK--(BUSINESS WIRE)--May 27, 2025--
Union Home Mortgage brings home awards for Innovation, Compensation & Benefits, Leadership, Purpose & Values, and Work-Life Flexibility. STRONGSVILLE, Ohio, May 27, 2025 /PRNewswire/ -- Union Home Mortgage (UHM), a high-growth independent mortgage banking company with a world-class...
The High Court refused to hear Apache Stronghold’s appeal against the Arizona copper mine.
Expedia Group (NASDAQ:EXPE) has outperformed the market over the past 15 years by 2.78% on an annualized basis producing an average annual return of 14.58%. Currently, Expedia Group has a market capitalization of $20.28 billion. Buying $1000 In EXPE: If ...Full story available on Benzinga.com
The 90-plus day mortgage delinquency rate was the highest recorded by Equifax, which started tracking mortgages in 2012.
Delinquencies were up 71.5 per cent year over year, says the company, which started tracking mortgages in 2012.
Market Growth Driven by Rising Demand for Carbon-Neutral Fertilizers, Growing Focus on Decarbonization, Increasing Investment in Green Hydrogen Infrastructure, and Government Initiatives for Renewable Energy IntegrationREDDING, Calif., May 27, 2025 /PRNewswire/ -- According to a new market research report titled "Green Ammonia Market: Size & Forecast by Technology (Alkaline Water Electrolysis, PEM Electrolysis), Production Method (Haber-Bosch with Green Hydrogen, Electrochemical), Application (Fertilizer, Energy Storage) & Region - Global Forecast and Analysis to 2035", the green ammonia market is projected to reach $85.3 billion by 2035, up from an estimated $700.4 million in 2025, growing at a CAGR of 61.6% during the forecast period. The growth of this market is mainly driven by rising demand for carbon-neutral fertilizers, growing focus on decarbonization, increasing investment in green hydrogen infrastructure, and government initiatives for renewable energy integration. For more comprehensive insights, download the FREE report sample: https://www.meticulousresearch.com/download-sample-report/cp_id=6180Key Market Drivers and TrendsThe green ammonia market is witnessing explosive growth, primarily driven by the shift towards renewable energy integration and sustainable production technologies that are revolutionizing traditional ammonia production approaches. Integration of advanced electrolysis technologies and carbon-free marine fuel applications with comprehensive decarbonization capabilities is gaining momentum. Market expansion is further supported by the development of ammonia as a hydrogen carrier for energy storage and technological advancements in renewable electricity integration, especially in developed markets with advanced renewable energy infrastructure across agricultural, transportation, and industrial domains.Latest trends in the green ammonia market include the development of carbon-free fuel alternatives essential for maritime decarbonization and the industry's increasing focus on comprehensive green hydrogen ecosystem solutions. The market is increasingly focusing on robust, integrated systems that merge cutting-edge renewable energy technologies with comprehensive ammonia production facilities to meet the demands of the rapidly evolving sustainable energy and agricultural landscape.Growth OpportunitiesThe market presents substantial growth opportunities in emerging markets, which offer substantial expansion opportunities for market players looking to reach new customer bases seeking sustainable alternatives. Another major opportunity lies in the integration with renewable energy systems, which enhances the accessibility of advanced green hydrogen production capabilities. Additionally, the carbon credit trading potential and growing marine fuel applications are generating new revenue ...Full story available on Benzinga.com
Ontario mortgage delinquencies at highest level ever recorded, Equifax says Toronto StarThis is how many Canadians missed credit payments in the first quarter of 2025 CTV NewsEquifax report says 1.4M consumers missed a credit payment in Q1 YahooMissed debt payments reach highest level since 2009: Equifax MSNCanadians missing more payments, as one default rate reaches crisis-era level The Globe and Mail
Leading cryptocurrencies fell Monday as trading remained tepid on the Memorial Day holiday.CryptocurrencyGains +/-Price (Recorded at 9:30 p.m. ET)Bitcoin (CRYPTO: BTC)-1.23%$108,006.73Ethereum (CRYPTO: ETH) -1.41%$2,523.05Dogecoin (CRYPTO: DOGE) -2.60%$0.2203What Happened: Bitcoin surged to an intraday high of $110,376.88 in the afternoon before dropping to a low of $107,600 overnight. Ethereum recorded a similar dip in the late hours.The two blue-chip cryptocurrencies, BTC and ETH, saw slight increases in trading volumes, at 5.47% and 3.54%, respectively. About $190 million was liquidated from the cryptocurrency market in the last 24 hours, with $136 million in bullish bets getting wiped out.Bitcoin’s Open Interest was largely unchanged in the last 24 hours. Over the week, though, the money locked in derivatives has risen nearly 6%.About 58% of top trader accounts on Binance with open BTC positions were short as of this writing.The “Greed” sentiment prevailed in the market, as indicated by the Crypto Fear and Greed Index.Top Gainers (24-Hours)CryptocurrencyGains +/-Price ...Full story available on Benzinga.com
Ontario’s Bill 5, the Protect Ontario by Unleashing our Economy Act, is speeding through the province’s legislative process and could become law [...]The post Ontario government committed to passing Bill 5 but pledges to accommodate concerns appeared first on Canadian Mining Journal.
Tesla sold 7,261 cars in Europe in April, down 49% year-on-year, according to the European Automobile Manufacturers’ Association. Tesla has suffered brand damage over the past few months because of CEO Elon Musk’s political involvement with U.S. President Donald Trump. Tesla is also facing heightened competition in Europe.European sales of Tesla vehicles plunged in April, as the U.S. electric carmaker continues to face reputational damage regionally and rising competition.Tesla sold 7,261 cars in Europe in April, down 49% year-on-year, according to the European Automobile Manufacturers’ Association (ACEA). That drop came even as overall battery electric car sales rose 34.1% annually in April.Tesla has faced brand damage over the past few months because of CEO Elon Musk‘s political involvement with U.S. President Donald Trump, with protests erupting at Tesla dealerships across Europe in March.Tesla sales tanked nearly 40% year-on-year over the January-April period.The company launched an upgraded version of its Model Y sports utility vehicle this year, but its overall line-up of cars is still ageing, with no new mass market offering unveiled to date.At the same time, Tesla continues to battle rising competition from traditional automakers as well as aggressive Chinese players. Last week, separate data showed auto giant BYD sold more pure electric cars in Europe than Tesla for the first time.European consumers are also showing a preference for hybrid electric vehicles — cars with a small battery that still mainly run on traditional fuel. Hybrid electric vehicles account for just over 35% of the total European car market, ACEA data showed.Tesla does not have any hybrid electric cars on the market, only selling full battery-powered vehicles.Investors have questioned Musk’s dedication to Tesla because of his time advising Trump and his role leading the so-called Department of Government Efficiency. Musk said on the most recent Tesla earnings call that his time spent running DOGE would drop significantly by the end of May, but that he plans to dedicate a “day or two per week” on government work.The tech billionaire added in a recent public speech that he is committed to leading Tesla for the next five years.– CNBC’s Ashley Capoot contributed to this report.
BEIJING, May 26, 2025 (GLOBE NEWSWIRE) -- On May 24, the opening ceremony of the 2025 Beijing Art Season was held at the 798 Art District, marking the official launch of a month-long cultural celebration. Bringing together over 200 galleries and art institutions, the event sets the tone for shaping Beijing's dynamic art landscape. At the same time, the 798 Art Committee was officially announced, signaling a new chapter in the development of 798. With a diverse lineup of activities and a projected market impact in the hundreds of millions of yuan, this phenomenon-level art season aims to draw global collectors, curators, and art lovers to the capital.Guests celebrate the Opening of Beijing Art SeasonWith the ...Full story available on Benzinga.com
Asian shares dip, dollar struggles after Trump's tariff backflip ReutersAsia-Pacific markets trade mixed as investors assess Trump's tariff plans CNBCLive: European tariff reaction, market awaits inflation read to inform next RBA rate cut Australian Broadcasting CorporationStocks fluctuate as traders await next moves in Trump trade war France 24Wall Street Futures, ASX 200 Hint at Swing Lows FOREX.com
Tesla sold 7,261 cars in Europe in April, down 49% year-on-year, according to the European Automobile Manufacturers’ Association. Tesla has suffered brand damage over the past few months because of CEO Elon Musk’s political involvement with U.S. President Donald Trump. Tesla is also facing heightened competition in Europe.European sales of Tesla vehicles plunged in April, as the U.S. electric carmaker continues to face reputational damage regionally and rising competition.Tesla sold 7,261 cars in Europe in April, down 49% year-on-year, according to the European Automobile Manufacturers’ Association (ACEA). That drop came even as overall battery electric car sales rose 34.1% annually in April.Tesla has faced brand damage over the past few months because of CEO Elon Musk‘s political involvement with U.S. President Donald Trump, with protests erupting at Tesla dealerships across Europe in March.Tesla sales tanked nearly 40% year-on-year over the January-April period.The company launched an upgraded version of its Model Y sports utility vehicle this year, but its overall line-up of cars is still ageing, with no new mass market offering unveiled to date.At the same time, Tesla continues to battle rising competition from traditional automakers as well as aggressive Chinese players. Last week, separate data showed auto giant BYD sold more pure electric cars in Europe than Tesla for the first time.European consumers are also showing a preference for hybrid electric vehicles — cars with a small battery that still mainly run on traditional fuel. Hybrid electric vehicles account for just over 35% of the total European car market, ACEA data showed.Tesla does not have any hybrid electric cars on the market, only selling full battery-powered vehicles.Investors have questioned Musk’s dedication to Tesla because of his time advising Trump and his role leading the so-called Department of Government Efficiency. Musk said on the most recent Tesla earnings call that his time spent running DOGE would drop significantly by the end of May, but that he plans to dedicate a “day or two per week” on government work.The tech billionaire added in a recent public speech that he is committed to leading Tesla for the next five years.– CNBC’s Ashley Capoot contributed to this report.
PDD Holdings Inc. (NASDAQ:PDD) will release its first-quarter earnings results before the opening bell on Tuesday, May 27.Analysts expect the Dublin, Ireland-based company to report quarterly earnings at $2.49 per share. According to data from Benzinga Pro, PDD Holdings projects to report quarterly revenue at $14.17 billion.On March 21, PDD Holdings reported fourth-quarter earnings that missed revenue expectations.PDD Holdings shares fell 0.5% to close at $119.24 on Friday.Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.Let's have a look at how Benzinga's ...Full story available on Benzinga.com
On Monday, in a post on Truth Social, President Donald Trump used his Memorial Day message to praise his administration's immigration efforts while blasting what he described as judicial overreach and failures at the U.S. southern border.What Happened: "Happy Memorial Day to all, including the scum that spent the last four years trying to destroy our country through warped radical left minds," Trump wrote, before accusing the Joe Biden administration of allowing "21,000,000 [million] people to illegally enter our country, ...Full story available on Benzinga.com
Trump says he'll delay a threatened 50% tariff on the European Union until July
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Maintaining The Shine Of Our Lost Soldiers On Memorial Day Authored by Allan Stein via The Epoch Times,Tom Pawlak and Robert Trae Zipperer live 2,200 miles apart, but they share a common belief: that unlike old soldiers, no gravestone or marker of a U.S. military member should ever fade.For Pawlak, 73, from Arizona, restoring the bronze plaques of veterans and those lost in combat to their original pristine condition has become his mission in life.Zipperer, 56, is a Navy veteran from Florida who is equally passionate about restoring gravestones.Pawlak’s quest began during a visit to a private cemetery in Phoenix in 2014, where some plaques were badly tarnished and hard to read.As Pawlak scrubbed, buffed, and polished one marker, the name of U.S. Marine Pfc. Oscar Palmer Austin began to emerge.Born on Jan. 15, 1948, Austin died in Vietnam on Feb. 23, 1969.Pawlak then realized that Austin, a 21-year-old African American soldier from Texas, was not an ordinary recruit; he had received the Medal of Honor for bravery on the battlefield and the Purple Heart after being wounded.The U.S. Navy later named a guided missile destroyer in his honor—the USS Oscar Austin.Pawlak reached out to the ship’s commander to share his discovery and the restoration work he had completed. Two weeks later, he received a package from the Navy that contained a flag, as well as a blue cap with “USS Oscar Austin” emblazoned on it.He began wearing the cap everywhere he went.“As soon as I began wearing the cap, people would stop me on the street to talk,” he said.He started going out more often to cemeteries, polishing and sanding the letters on the tarnished bronze plaques, Pawlak said.Robert Trae Zipperer, founder of VeteranGraves.com, launched a volunteer effort cleaning gravestones across the nation in 2019. Courtesy Robert ZippererIn 2014, he founded Mission Restore Bronze, a social media movement on Facebook that has drawn thousands of volunteers to the cause.Remembering a FriendOriginally from Chicago, Pawlak never served in the military. However, he feels a deep connection with veterans and the military—he lost a friend just three weeks after the friend arrived in Vietnam in 1967.He thinks of him every time he visits a cemetery and notices the sad condition of the bronze grave markers.“I‘ll walk through a cemetery and see a bad marker. I’ll have everything with me and finish it,” Pawlak said.Pawlak recalls his first volunteer: a naval commander who wanted to restore his father’s bronze plaque in Tampa Bay, Florida.Other volunteers would ask him how to clean plaques when visiting cemeteries.Pawlak offers free jars of his proprietary wax, along with video instructions on how to apply it correctly for lasting results.The volunteer effort “just exploded from the start,” he said.“I couldn’t leave the house. I took a shower and had 16 messages when I returned,” he said.His efforts have inspired at least one Eagle Scout project in the Phoenix area.In 2017, 13-year-old Levi Brown assembled a team to clean and restore approximately 250 bronze grave markers at Greenwood Cemetery in Phoenix.Pawlak said he has no idea how many military personnel plaques have been cleaned and restored through his virtual movement.Tom Pawlak of Arizona started Mission Restore Bronze Markers in 2014 as a one-man effort that has grown into thousands of volunteers nationwide. Courtesy of Tom PawlakMost volunteers are people he doesn’t know and has never met in person.Since his project launched, Reserve Officers’ Training Corps programs for youths have carried the mantle forward, as well as court diversion programs and other groups.“I‘ll just walk around and hand out wax jars to people,” Pawlak said. “I’ll have markers that I take care of regularly—people I’ve known.”Often, he'll get a call from a potential volunteer and send a jar of wax on request. Each jar contains enough product to clean 12 to 16 markers.However, if Pawlak had to estimate the number of volunteers, it would potentially be well over 75,000, based on the viewership of his YouTube videos.“We’ve included first responders and police. I'll supply them with wax,” he said.During another visit to Phoenix, Pawlak felt compelled to take action when he noticed that the bronze plaques commemorating the 622 Arizona soldiers killed in Vietnam needed love and care.With a brush in hand, he and other volunteers scoured, scrubbed, and waxed the bronze plaques and statues of foot soldiers, restoring them to a remarkable shine for Memorial Day.He’s also cleaned bronze plaques in Washington and even the statue of Gen. George S. Patton at the museum dedicated to Patton in California.He said that getting down on his knees to clean is easy, but getting back up is hard. He could use more eager, younger volunteers.Keeping Honor CleanWhile researching his family tree in Lee County, Florida, Zipperer observed that many military gravesites were in poor condition, with some hardly legible due to mold.A veteran's headstone is covered in black mold. Courtesy of Robert ZippererThe once-bright headstones had turned dark gray, making the names hard to read.Zipperer faced frustrating regulatory challenges in Fort Myers before finally obtaining the necessary approval to clean the headstones in time for Memorial Day in 2019.Initially, city officials claimed he needed permission from the families to clean the headstones, warning that he would be trespassing and “soliciting” otherwise.However, after Zipperer brought his case to the media, the city changed its position.“I’m just a guy that doesn’t take no for an answer. You can’t have a veteran’s headstone covered in crud. It’s just not American,” Zipperer told The Epoch Times.The headstone as it now appears after cleaning. Courtesy of Robert ZippererRules for RestorationZipperer later discovered no standard operating procedures at the local, state, or federal levels concerning cleaning veterans’ grave markers.He contacted the National Cemetery Administration in Washington, which advised him to submit a proposal in writing.Eventually, the agency incorporated his ideas into national guidelines for the volunteer maintenance of veteran and military gravestones.“The graves just sit out there covered in nastiness,” Zipperer said.“I’ve had to get out hedge clippers and cut bushes to reach a veteran’s grave enveloped in vegetation.“You‘ll cut it all back, and you’ll clean it all up, and then you'll scrub the headstone and get it clean.”The NCA, part of the Department of Veterans Affairs, estimates that it has supplied more than 15 million headstones to national, state, and private cemeteries nationwide since 1973.In fiscal year 2022, the agency provided 347,361 headstones and markers for military personnel buried in the nation’s cemeteries.The VA operates 156 national cemeteries and 35 soldiers’ lots and monument sites across 42 states and Puerto Rico.Members of the 3rd U.S. Infantry Regiment place flags at the headstones of U.S. military personnel buried at Arlington National Cemetery, in preparation for Memorial Day in Arlington, Va., on May 22, 2025. Nearly 1,500 service members entered the cemetery at pre-dawn hours to begin the process of placing a flag in front of approximately 260,000 headstones. Andrew Harnik/Getty ImagesMore than 4 million Americans, including military personnel from every war and conflict, are interred in VA national cemeteries. Approximately 84 percent of veterans are in private cemeteries throughout the country, according to the American Association of Retired Persons.Zipperer believes the deteriorating condition of veteran headstones signifies a “lack of caring” and funding.Through his website, veterangraves.com, he hopes to recruit more volunteers and financial support for his cause.“The problem is we don’t have the [public] funding,” Zipperer said. “Nobody creates funding for veterans’ headstones. I’m doing what I can do, but I don’t have an unlimited budget.“Every state should be contributing to this. Every American should be contributing to this cause.”Zipperer estimates he’s spent more than $500,000 out of pocket to promote his mission on YouTube.“There are people in Australia who love their veterans as much as Americans love their veterans,” he said.Before and after images of a bronze veteran grave plaque. Courtesy of Tom Pawlak“I’m just broadcasting it out there to whoever receives the message.”Pawlak said he also had to use his own funds to support Mission Restore Bronze Markers.“I just dedicated myself to doing it,” he said.Celebrity AppealIn 2021, before Memorial Day, Zipperer appeared on the ABC syndicated talk show “Live With Kelly and Ryan” to present his case.The response was nothing like he had anticipated.“I’m naive, I thought this was going to be it,” he said. “Tom Hanks was going to reach out to me. Clint Eastwood was going to reach out to me. Gary Sinise was going to reach out to me. Steven Spielberg was going to reach out to me.”Patriotic celebrities, one and all, he said.“And they would provide the help I needed to make this vision a reality. I thought all the senators and governors were going to call. My phone was going to blow up,” he said.“Do you know how many people called?”No one, he said, except for a nice woman in New Jersey, who saw him on television.“We love our veterans in our county,” the woman said to him over the phone. “We’re going to take up your cause here.”She asked if Zipperer would attend the county’s Memorial Day celebration, and he agreed.An American flag at sunset in Springerville, Ariz., on May 25, 2025. Allan Stein/The Epoch TimesZipperer was struck by the community turnout in Hunterdon County that day.He finally grasped the true purpose of this mission.“This is an American cause,” Zipperer said. “We can make this happen.” Tyler DurdenMon, 05/26/2025 - 22:15
Chinese-owned Volvo Cars to cut 3,000 white collar jobs BBCVolvo to cut 3,000 jobs as Trump tariffs rattle auto market The HillVolvo Car to Cut 3,000 Jobs to Become Leaner, Protect Profits Bloomberg.comVolvo to cut 3,000 jobs amid trade uncertainty Al JazeeraVolvo Cars cutting 3,000 jobs to reduce costs AP News
SINGAPORE, May 26, 2025 /PRNewswire/ -- JOYY Inc. (NASDAQ:JOYY) ("JOYY" or the "Company"), a global leading technology company, announced its unaudited financial results for the first quarter of 2025. In the first quarter of 2025, JOYY's revenue reached US$494.4 million, with its non-livestreaming revenue reaching US$123.0 million, representing a year-over-year increase of 25.3%. Non-livestreaming revenues accounted for 24.9% of the Company's total revenues. JOYY's GAAP and non-GAAP1 operating profits increased approximately 244.5% and 24.9% year-over-year to US$12.2 million and US$31.0 million, with operating margins of 2.5% and 6.3%, respectively. The Company maintained strong operating cash flow, which reached US$58 million.JOYY continued to deliver returns to shareholders. During the first quarter, the Company distributed US$49.1 million in dividends to shareholders. On top of that, the Company repurchased approximately US$22.5 million worth of its shares from January 1, 2025 through May 23, 2025, reinforcing its commitment to returning value to shareholders.Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, "As we celebrate the 20th anniversary of our operations, we have evolved beyond social entertainment, steadily fostering a multifaceted ecosystem. Our multi-engine growth strategy is yielding clear results, with our core livestreaming business achieving consistent profitability, and our programmatic advertising platform, BIGO Ads, demonstrating strong growth momentum, which is fueled by AI-driven innovations in user insights, intelligent creative development, and precise targeting. We expect these advances ...Full story available on Benzinga.com
Engineers who spoke to the New York Times describe a culture where AI adoption is technically optional, but failing to use it risks falling behind.
New York City, NY, May 26, 2025 (GLOBE NEWSWIRE) -- The world of competitive gaming has exploded in popularity, and with it, eSports betting has become a top choice for US bettors. Among the many platforms vying for attention, Thunderpick stands out for its robust offerings and user-friendly interface. With a strong focus on eSports markets and competitive odds, it caters directly to fans of games like CS:GO, League of Legends, and Dota 2. JOIN THE TOP-RANKED ESPORT BETTING SITE: THUNDERPICK Whether you're a casual viewer or a seasoned bettor, Thunderpick delivers an experience designed to match your level of involvement. Backed by a secure platform and exciting promotions, it's quickly becoming a favorite across the US.Why Thunderpick Stands Out for US eSports BettorsThunderpick is purpose-built for the modern eSports enthusiast, making it a top choice for players in the United States. The platform supports a wide variety of eSports titles, from globally dominant games like Counter-Strike and Dota 2 to emerging favorites such as Valorant and Overwatch 2. This diversity ensures bettors can always find the matchups they care about. One of Thunderpick's core strengths lies in its intuitive betting interface, which makes it simple to place single bets, accumulators, and even live wagers with just a few clicks. Real-time match updates and dynamic odds make in-play betting especially engaging, adding a strategic layer to the excitement of watching your favorite teams compete. US players will appreciate the sleek, mobile-optimized design that works flawlessly on both iOS and Android devices. Whether you're at home or on the move, Thunderpick makes it easy to keep up with the action. The site's speed and responsiveness ensure you never miss a betting opportunity, even in fast-paced games. Beyond its technical features, Thunderpick also excels in offering promotions tailored to eSports fans. Its generous welcome bonus, reload offers, and seasonal competitions help players get more value from every wager. These rewards can be especially enticing during major tournaments like The International or the League of Legends World Championship. Thunderpick also maintains a strong commitment to responsible gaming, offering tools like deposit limits and self-exclusion for users who want more control over their betting habits. Combined with SSL encryption and a well-regarded reputation, this creates a trustworthy and secure environment. GET 100% MATCH WELCOME BONUS UP TO $600 AT THUNDERPICKGetting Started at the Top eSports Betting Sites in the USSigning up with Thunderpick is fast, simple, and optimized for US users. The process starts by visiting the Thunderpick website or downloading the mobile app, available for both iOS and Android. From there, you'll be prompted to create an account using your email address and a secure password. Register Your ...Full story available on Benzinga.com
An Ontario judge has approved a settlement in a class-action lawsuit that accused Loblaw and its parent company George Weston Ltd. of engaging in an industry-wide scheme to fix the price of bread.
Ontario judge approves $500M settlement in Loblaw bread-fixing case CBCView Full Coverage on Google News
Amazon coders say they’ve had to work harder, faster by using AI New York PostAt Amazon, Some Coders Say Their Jobs Have Begun to Resemble Warehouse Work The New York TimesAmazon programmers complain that AI has turned their work into a high-speed assembly line Mezha.MediaAmazon, Microsoft, Google and Shopify Are Racing To Integrate AI, Now Engineers Say They're Working Faster With Less Thinking Time — And More Pressure Than Ever BenzingaCaging Copilot: Lessons Learned in LLM Security Black Hills Information Security
After a member of the Donald Trump administration shared a post about “kicking” 1.4 million undocumented immigrants off the Medicaid program as part of the “One Big Beautiful Bill,” X’s AI bot Grok clarified that undocumented immigrants are already ineligible for federally funded Medicaid.What Happened: An X post by Alex Pfeiffer, the deputy assistant to the President and principal deputy communications director, stated that the “One Big Beautiful Bill” was “kicking illegal immigrants off Medicaid to protect Medicaid for AMERICANS!”According to Grok, the information in the post was misleading and the image in the post shows a protest with Mexican flags, likely from a past immigration rally.We're kicking illegal immigrants off Medicaid to protect Medicaid for AMERICANS!The Big Beautiful Bill puts America First. pic.twitter.com/zzNgYDGwOa— Alex Pfeiffer (@Pfeiffer47) May 25, 2025However, X users flocked to the comment section of the post asking Grok for clarification, which highlighted that the federally funded Medicaid does not cover healthcare for undocumented immigrants, except for emergency services, per the 1996 PRWORA ...Full story available on Benzinga.com
DELRAY BEACH, Fla., May 26, 2025 /PRNewswire/ -- The plant-based supplements market is estimated at USD 27.52 billion in 2025 and is projected to reach USD 42.27 billion by 2030, at a CAGR of 9.0% from 2025 to 2030, according to a report published by MarketsandMarketsTM. The plant-based...
Thousands of retirees may soon see Social Security checks docked by 15% as Trump admin resumes collections Yahoo FinanceHow the Student Loan Crisis Will Show Up in the Economy WSJMillions of Americans hit with bad credit after missed student loan payments The Washington PostSocial Security Checks Could Shrink For 450,000 Retirees As Government Resumes Seizing Benefits Over Student Loan Defaults Yahoo FinanceBorrower Credit Scores Plunge Following Student Loan Delinquencies PYMNTS.com
Simple actions and gigantic returns are timing. They got lucky. Such windfalls generally aren’t predictable or repeatable.
VANCOUVER, British Columbia, May 26, 2025 (GLOBE NEWSWIRE) -- Koryx Copper Inc. (“Koryx” or the "Company") (TSX-V: KRY) is pleased to announce assay results from 12 drill holes (3,603m) received as part of the Phase 2 drill program for its 2025 exploration and project development strategy on the wholly-owned Haib Copper Project (“Haib” or the “Project”) in southern Namibia. Haib is an advanced-stage copper/molybdenum/gold project that is envisaged to produce a copper concentrate via a conventional crushing/milling/flotation metallurgical process, with the potential for additional copper production via heap leaching.
Judge approves $500M settlement in Loblaw, parent company bread-fixing case Global NewsView Full Coverage on Google News
European shares are poised to open in positive territory on Monday, after U.S. President Donald Trump said he would delay the roll out of 50% tariffs on the European Union.DAX futures were trading 1.6% higher at 7:35 a.m. in London, while French CAC 40 futures were up by 1.3%.U.K. markets are closed for a public holiday.Trump initially called on Friday for a 50% tariff on EU goods, saying in a post on his Truth Social platform that the duties would begin from June 1. He accused the bloc of being “very difficult to deal with,” and said trade negotiations with the EU were “going nowhere.”On Sunday, Trump then said he had agreed to delay the 50% tariffs to July 9 following a call from EU Commission President Ursula von der Leyen.Von der Leyen said in a post on X over the weekend that the EU was “ready to advance talks swiftly and decisively.”Overnight in Asia, shares were trading in mixed territory, with Japanese and South Korean stocks moving higher as Chinese and Hong Kong-listed shares saw losses.U.S. markets are closed on Monday for the Memorial Day holiday. Stocks on Wall Street sold off on Friday after Trump’s threat to impose new tariffs on the EU and tech giant Apple.— CNBC’s Erin Doherty contributed to this report.
Dems Mull $20 Million Plan To Figure Out Why Young Men Don't Like Them Six months after a stinging nationwide rejection that handed Donald Trump a commanding reelection and fractured their core coalition, the Democratic Party is turning to a new solution: spending $20 million to figure out why young men don’t like them.The project, codenamed SAM — short for “Speaking with American Men: A Strategic Plan” - is described in a prospectus obtained by the New York Times. It outlines a massive push to decode the language and culture of disaffected young men, particularly in online spaces, and includes a proposal to buy ads inside video games.“Above all, we must shift from a moralizing tone,” the document urges.The effort comes amid widespread Democratic soul-searching after a loss that wasn’t just electoral, but cultural. A recent NBC News poll placed the party’s favorability at just 27 percent, its worst showing in the poll’s 34-year history.Focus groups show the branding problem is dire. One Georgia man recently summed it up succinctly: "A deer in headlights." According to messaging consultant Anat Shenker-Osorio, Democrats are consistently described in her focus groups as "sloths," "tortoises," and now, apparently, roadkill."You stand there and you see the car coming," the man explained. "But you’re going to stand there and get hit with it anyway."Democratic leaders are scrambling to reassemble a coalition that used to be rock-solid: young voters, working-class Americans, Latinos, and Black voters all shifted toward Trump in 2024 - and this time, he won the popular vote, too."There is fear, there is anxiety, and there are very real questions about the path forward - all of which I share," said Rep. Jason Crow (D-CO), who is charged with recruiting candidates to help win back the House in 2026. “We are losing support in vast swaths of the country.”Even the long-standing gender gap, which typically favored Democrats, flipped in key districts as men swung harder to the right. It’s one of the driving reasons behind the $20 million SAM initiative.Meanwhile, the party is facing open rebellion from within. Progressive activists are outraged at what they see as a lack of fight. Moderate Democrats are openly warning that cultural messaging - on issues like immigration, gender, and economic elitism - is alienating the very voters the party once claimed as its base."We’ve pushed, in so many ways, these people away from our party," Crow said.Former DNC Chair Jaime Harrison, who stepped down in February, admitted "The party has to find ways to compete in states where it’s not."But instead of barnstorming in battleground counties, Democratic donors are reportedly huddling in luxury hotels, commissioning focus groups and digital rebrand efforts that - to some - look more like anthropology than campaigning.Democratic pollster Zac McCrary said Trump’s declining approval ratings may create openings in 2026, but warned against reading too much into a potential midterm bounce."A good 2026 midterm - we should not let that mask a deeper problem," McCrary said, adding that the party’s brand is 'repellent' in so much of the country.'He blamed a credibility gap: "Democrats have lost credibility by being seen as alien on cultural issues."For many in the party’s activist and base circles, the appetite for bold messaging and confrontation remains strong."Voters are hungry for people to actually stand up for them - or get caught trying," said Shenker-Osorio. "The party is doing a lot of navel-gazing and not enough full-belly acting."Whether Democrats will rediscover their spine, or waste millions more studying why they don’t have one, remains to be seen. Tyler DurdenSun, 05/25/2025 - 22:45
Apple Inc. (NASDAQ:AAPL) isn't a company usually associated with national security, but it is in the crosshairs of President Donald Trump, now an expert has given his take on the situation.What Happened: On Friday, Ming-Chi Kuo, an analyst at TF Securities, took to X, formerly Twitter, and outlined three key reasons why Trump persistently targets Apple in public.First, he noted, Trump knows that pressuring a global brand like Apple guarantees widespread media attention. "Forcing Apple, the world’s most famous company, and its iconic iPhone to adopt ‘Made in America' policies generates maximum exposure."See Also: $4 A Month? Gene Munster Unpacks Trump’s iPhone Tariff Math – Says ‘Market Appears To Be Miscalculating the Impact’Second, Apple rarely pushes back publicly, making it a low-risk target. "Apple is reluctant to openly contest Trump's statements or mount significant opposition," Kuo added, stating that it makes it easier for Trump to apply pressure without ...Full story available on Benzinga.com
PERTH, Australia, May 25, 2025 (GLOBE NEWSWIRE) -- Canyon Resources Limited (ASX: CAY) (‘Canyon' or the ‘Company') is pleased to announce that its wholly owned in-country subsidiary, Camalco Cameroon SA (‘Camalco') has signed a binding agreement with AFG Bank Cameroon (‘AFG Bank CM') for a medium-term syndicated credit facility of XAF 82,000,000,000 (~US$140M) (‘Credit Facility').Canyon will use the credit facility for the acquisition of locomotives, wagons, the development of rail, ore transport infrastructure and the port facility for the flagship Minim Martap Bauxite Project (‘Minim Martap' or ‘the Project'), located in Cameroon. Importantly, the ~US$140 million Credit Facility, along with the Company's major shareholder and long-term supporter Eagle Eye Asset Holdings Pte Ltd advising its intention to exercise 350 million options for AU$24.5 million, to fund Stage One operations at Minim Martap.The key terms for the credit facility are summarised in Schedule 1. Canyon anticipates drawdown on the Credit Facility occurring in Q3, 2025.AFG Bank CM is the banking subsidiary in Cameroon of Atlantic Group, the conglomerate founded by the successful Ivorian businessman Mr. KONE DOSSONGUI. This subsidiary is among the top three banks in Cameroon in terms of deposits collected from customers and loans granted to customers. This realization demonstrates its expertise in the field of structured financing. The main architects of this operation are Mr. Léon KOFFI KONAN, Chairman of the Board of Directors of AFG Holding (the company in charge of the supervision of the banking companies of the group), and AFG Bank Cameroon team, led by its Managing Director, Mr. Eric Valery ZOA. Established in 2008 in Douala under the initial name of "Banque Atlantique Cameroun", AFG Bank CM is committed to providing innovative financial solutions tailored to the needs of its clients, leveraging its deep understanding of both local and international markets.Since receiving the Mining Licence for Minim Martap in September 2024, Canyon has successfully and rapidly developed Minim Martap, achieving critical key milestones, including securing key port and inland rail facility land. The Company is now focused now on making a Final Investment Decision for the Project and completing the Definitive Feasibility Study, which is assessing a two-stage development pathway aimed at expediting operations, which would see Canyon make its first shipment of bauxite from Minim Martap in the 1H 2026.Mr Mark Hohnen, Canyon Executive Chairman commented: "The progress the team has made since we received our Mining License in September 2024 is truly impressive and I would like to thank the Canyon team, Eagle Eye and our key stakeholders for their continued efforts, advice and support in placing Canyon in the position we are today. "AFG Bank Cameroon is an excellent partner for Canyon and through the ~US$140 million credit facility in place, along with the AU$24.5 million in funds to be received from the option exercise by Eagle Eye, Canyon is now in a strong financial position to fund Stage One operations at Minim Martap."Importantly, the potential and world-class nature of Minim Martap is now being recognised ...Full story available on Benzinga.com
European shares are poised to open in positive territory on Monday, after U.S. President Donald Trump said he would delay the roll out of 50% tariffs on the European Union.DAX futures were trading 1.6% higher at 7:35 a.m. in London, while French CAC 40 futures were up by 1.3%.U.K. markets are closed for a public holiday.Trump initially called on Friday for a 50% tariff on EU goods, saying in a post on his Truth Social platform that the duties would begin from June 1. He accused the bloc of being “very difficult to deal with,” and said trade negotiations with the EU were “going nowhere.”On Sunday, Trump then said he had agreed to delay the 50% tariffs to July 9 following a call from EU Commission President Ursula von der Leyen.Von der Leyen said in a post on X over the weekend that the EU was “ready to advance talks swiftly and decisively.”Overnight in Asia, shares were trading in mixed territory, with Japanese and South Korean stocks moving higher as Chinese and Hong Kong-listed shares saw losses.U.S. markets are closed on Monday for the Memorial Day holiday. Stocks on Wall Street sold off on Friday after Trump’s threat to impose new tariffs on the EU and tech giant Apple.— CNBC’s Erin Doherty contributed to this report.
Christie Brinkley's ultra-amicable relationship with her ex-husband Billy Joel was on full display following Joel's announcement that he's canceling his upcoming shows after having been diagnosed with a brain disorder. "Dear Billy ,The whole Brinkley gang is sending you lots of love and good wishes for a full and speedy...
Over 42 million Shiba Inu (CRYPTO: SHIB) tokens were pulled out of circulation Sunday, putting additional deflationary pressure on the popular dog-themed meme coin.What happened: The burn rate blasted 1866% in the last 24 hours, resulting in a supply squeeze of 42.122 million SHIB tokens, according to Shibburn, the coin's official burn tracker.As per the latest available data, over 137 million SHIB were burned in the last week, reflecting an increase of 13.78%.HOURLY SHIB UPDATE$SHIB Price: $0.00001415 (1hr 0.46% ▲ | 24hr -2.08% ▼ )Market Cap: $8,330,462,667 (-2.14% ▼)Total Supply: 589,251,364,169,654TOKENS BURNTPast ...Full story available on Benzinga.com
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Electric Vehicles: Are They Good, Bad, Or Ugly? Authored by Ronald Stein via The Epoch Times,The recently released “Electric Vehicles: The Good, The Bad and The Ugly” isn’t just another documentary that lazily cheerleads the industry, though there is a fair amount of marveling at the technology and underscoring its benefits and potential. It’s an enlightening, educational, and entertaining 90-minute documentary that is a must-view for those who wish to enhance their energy literacy and decide for themselves if EVs are good, bad, or ugly.It raises serious concerns that policymakers—in wealthy countries only—are setting “green” policies that continue to support human-rights atrocities and environmental degradation in poorer, developing countries where the exotic minerals and metals needed for EVs are mined.Some challenges remain with wind and solar power, which can only generate occasional electricity and are unreliable. This issue has drawn federal legislative attention, with the U.S. Senate voting to discuss a resolution to roll back California’s EV mandate, citing concerns about energy infrastructure and consumer readiness.“Electric Vehicles: The Good, The Bad and The Ugly,” narrated by political commentator and author Larry Elder, who also appears in the film, demonstrates the environmental degradation and human-rights atrocities caused by mining the components needed for EVs, while presenting a thorough analysis of the pros and cons of the vehicles.Planet Earth’s Resources Are LimitedElder’s documentary educates viewers about how the critical minerals and metals needed to support the much-touted “energy transition” to EVs, wind turbines, solar panels, and batteries come from unreliable countries such as China, some poorer African nations, and others. Those countries have minimal labor laws and poor environmental controls, so that their production of the critical minerals and metals needed for going “green” results in serious environmental degradation and dire social consequences.All this, just to support “clean” electricity in wealthier countries.The extraction rates and R/P (reserves to production) ratio for many of the critical minerals and metals needed for going “green” are alarming, and most of these natural resources are not being replenished. This suggests a worrisome possibility of an unsustainable approach to the current policies of subsidies for “green” energies. Furthermore, even countries with the largest reserve base face important challenges to increasing production growth to meet projected future demand.Lithium: In 2024, the world mined about 240,000 tons of lithium, almost three times the amount mined in 2020. The International Energy Agency projects that demand for lithium will increase to 450,000 tons per year by 2030. Despite a significant world resource base, production of those resources remains a major challenge.Cobalt: In 2024, the world produced an estimated 280,000 metric tons of cobalt, the highest amount ever recorded. The Democratic Republic of the Congo was the world’s leading producer, accounting for 74 percent of the global total, while the country is known for the major problems with child labor and poor working conditions of its mineral sector.A typical EV battery for a Tesla sedan requires substantial raw material extraction for the battery’s minerals and metals of lithium, cobalt, nickel, manganese, copper, aluminum, graphite, plus the steel, plastic, and other metals for battery casings.The documentary raises concerns about these “blood minerals,” which come mostly from developing countries—mined at locations in the world that are never inspected or seen by policymakers and EV buyers.The mining and refining to support the demands for EV batteries, wind, and solar involve large quantities of raw materials. The estimated total mass of raw materials mined and processed for an EV battery, including overburden and waste rock, can range from 50,000 to 100,000 pounds, depending on battery size, chemistry, and mining efficiency.Elder’s documentary should be viewed by so-called zero-emission policymakers in the few wealthy countries that have disrupted the delivery of continuous and uninterruptible electricity with strict regulations, preferential subsidies, and cancellation of proven baseload sources like coal, nuclear, and natural gas.Those who watch “Electric Vehicles: The Good, The Bad and The Ugly” will learn about the shell game some are using to exploit developing countries to support so-called clean and green electric vehicles, and can evaluate for themselves whether global economies and the environment can sustain EVs to meet transportation needs for all, not just for a select few.“Electric Vehicles: The Good, The Bad and The Ugly” starts streaming May 23 on Ganjing World. It is available for purchase at $12.99, and available for a 72-hour lease for $9.99.Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge. Tyler DurdenSun, 05/25/2025 - 22:10
Concerts coming to Toronto in summer 2025 CTV NewsColdplay, Oasis and other big acts booked for summer shows in Toronto Toronto Sun
In what had long been celebrated every May 30 to honor America’s fallen soldiers, Memorial Day officially became a federal holiday in 1971, observed on the last Monday in May
Iconic retailer returns after 13 years to take on Amazon TheStreetHigh street legend set to return 13 years after all stores were shut for good The MirrorOnBuy acquires Comet brand to resurrect as marketplace channelx.worldHigh street store that closed all UK stores in 2012 set to return online Bristol LiveIconic high street store returning after shutting 236 stores 13 years ago MSN
Here’s Where a 64,000% Rally Like 2017 Could Take XRP Price The Crypto BasicCan Cryptocurrency XRP (Ripple) Reach $3 Again? The Globe and MailXRP’s Textbook Bear Flag Pattern Hints At Further Selloffs in May FXEmpirePundit Says You Can Accumulate XRP Cheap Now, Soon Its Price Will Be $1,000 per Coin BinanceXRP To $27: Timeline Leaked – Are You Ready? TradingView
A nondescript brick building in SoBro conceals the nerve center of a system that keeps some of Music City's most famous venues running smoothly.
An Unstoppable Bull Market? Authored by Lane Roberts via RealInvestmentAdvice.com,Even Trump Can’t Kill The RallyLast week, we discussed how the rally had repaired much of the previous damage following the correction. As we noted:“This past week, the market continued its advance. There is little reason to be bearish with key overhead resistance levels broken. However, as shown, the markets are reaching decently overbought levels after being extremely oversold. This suggests that at least for now, the “easy money” has been made. With the market above the 200, and above the 50 and 20-DMA, pullbacks should be between 5600 and 5800. Investors can use such a pullback to increase portfolio equity exposures and reduce hedges accordingly. Conversely, 5000 to 5200 becomes the next critical target if those lower supports are violated. Notably, such would require some unexpected event to unfold.”Several times this past week, we discussed that the market was due for a corrective pullback after reaching more overbought conditions. On Friday, the market gave way early in the morning on fresh comments by President Trump instituting 25% tariffs on Apple (AAPL) on any product not manufactured in the U.S. and 50% tariffs on the EU, as trade talks are not going well. As is always the case, amid a bull run, sellers are still unwilling to sell over fear of “missing out” on rising asset prices. It takes some “event” to bring sellers into the market, which we saw early on Friday.However, by late afternoon, markets bounced off the 200-DMA and clawed their way higher as comments from Scott Bessent took the sting out of Trump’s announcements. Most importantly, he made two significant statements to alleviate concerns over the recent yield rise. First, he expects the US budget deficit “to be something with a 3% in front of it by 2028,” with revenue from tariffs to be used to solve the deficit. This is crucial as the CBO projections of never-ending deficits do not consider the effects of policy changes that can lead to economic growth. Tax cuts, deregulation, the coming productivity boost from Artificial Intelligence, or the infrastructure demand for power can significantly impact future growth rates.Secondly, he specifically mentioned the SLR. The Supplementary Leverage Ratio (SLR) is a rule imposed after the 2008 financial crisis that increased bank capital requirements. This is particularly interesting to the bond market, where reversing that requirement will allow banks to purchase more Treasury Bonds. Bessent noted in his interview that the Treasury is close to “moving the SLR requirement and could see that move by the summer.” That shift in the SLR requirement is very bond-friendly and will work to bring rates lower. (For more, read our Daily Market Commentary from last week.)Technically SpeakingEven with Bessent’s comments, that market remains overbought short-term, and a further consolidation process is likely into next week. At the end of this week, we removed our short-market hedge, added to bonds, and reduced equity exposure. If the market is going to consolidate, we can allow cash to act as the primary hedge. However, if the 200-DMA is violated, the 50-DMA will become the next critical support. From a bullish perspective, the 20 and 50-DMAs are now sloping positively, which should provide rising support levels. Overall, we suspect that the market will stabilize. Of course, there are always risks to be aware of, so increased cash levels are essential now.We are not “bearish” on the market because buybacks remain a powerful market influence over the next month. The recent surge has been the largest since the October 2022 market lows. However, those will begin to fade in the middle of June, which could weigh on markets into the Q2 earnings reports.For now, this seems to be an “unstoppable” bull market, and investor spirits have become substantially more bullish. However, all rallies eventually end. That doesn’t mean a “crash” is coming, and as noted last week, the market is holding the 200-DMA for now. This suggests the previous correction phase is likely complete with support gathering at slightly lower levels. However, there is never a guarantee, so we have taken some recent gains and raised cash levels. We will be patient for a much better entry point soon.With that said, let’s discuss how to navigate a seemingly “unstoppable” bull market.Retail Buyers Go “All In”Last week, we started the market update by analogy between the COVID pandemic decline and this year’s correction. As we noted:“It is worth remembering that there are many competing differences between the current macroeconomic backdrop and 2020.”“However, as we discussed in that previous analysis, even a “unstoppable bull market” gives those who can be patient better risk/reward opportunities to increase equity exposures. For example, after the initial rally off the March 2020 lows, the market pulled back and consolidated briefly before rallying further. Then, another longer consolidation process that year provided another entry point for bullish investors.”“The weekly Technical Gauge we produce each week in this newsletter below follows the same path as 2020. While not yet back to bullish technical extremes, it is moving quickly higher to more elevated levels. When those readings reached 80, the market went through a longer consolidation process in 2020.”Most interesting is that retail investors have been fueling the market’s advance. As noted in our #DailyMarketCommentary:“Monday was a record-setting day. Stocks opened down 1% on news that Moody’s downgraded the US credit rating to AA. While some perceived the downgrade as problematic, retail investors, aka individuals, bought stocks at the highest rate ever. Per JP Morgan, retail investors purchased a net of $4.1 billion of US stocks in the first three hours of trading. As their graph below shows, Monday’s retail buying stampede dwarfs prior instances”While the retail net inflow was quite impressive, it does leave the bulls and bears with a consideration. We should ask ourselves who the retail investors bought the stock from. The answer, by default, is institutional investors. This trend of retail buying from institutional investors has been ongoing. As we wrote in “Smart Money or Dumb Money: Who Will be Right?“Smart money (institutions and hedge funds) is aggressively selling this market while individual investors, aka dumb money, are aggressively buying. The difference in opinions is stunning.The data below confirms that view, with the recent stretch of Hedge Fund short selling remaining unprecedented and reflective of some skeptics. Over the past 3 COT reports, Hedge Fund shorts surged ~$25bn – the largest amount for at least the past 10 years. Viewed through another lens, Hedge Fund shorts as a percentage of total open interest reached 41% – the max dating back to February of 2021.Typically, institutional investors tend to be right. However, in the short term, particularly over the last few years, retail investors have been heavy buyers of corrections. The only question is whether retail investors run out of money before institutions are forced to cover?Valuations Take A Back SeatThat said, the rally so far seems unstoppable. Every time the market opens lower, as on Friday following Trump’s tariff increase, buyers step in. As such, the patience needed to wait for a correction has been hard to come by. As noted previously, we remain bullishly biased but expect a pullback.“We must remember that market advances can only go so far before an eventual correction occurs. My best guess is that if the markets are to reach all-time highs this year, we will likely have a correction to reset some of the more extreme overbought conditions, as shown below. Any pullback to the 50-DMA is likely a good entry point to increase exposure on a better risk/reward basis.”The bull market that started in October 2022 has surprised many, given the number of traditionally more bearish indicators, such as inverted yield curves, leading economic indicators, and rising interest rates. For many individuals, trading a rising stock market is difficult because they expect the inevitable resumption of the “bear market.” However, as the market continues to rise, investors are pressured to buy equities, creating more demand, thereby pushing asset prices even higher.The bullish bias is evident in the long-term relationship between stocks and bonds. The ratio of stocks to bonds has far exceeded that of the “Financial Crisis,” and is now on par with the “Dot.com” bubble peak, with a similar sharp slope higher.Does that mean the market is about to “crash?” No, but there is an apparent correlation between the detachment of stocks to bonds and historical valuation metrics. However, in the short term, all that matters is price. As discussed in “Technical Measures,“ valuations are a terrible market timing tool. Valuations only measure when prices are moving faster or slower than earnings. In the short term, valuations are just a measure of psychology. To wit:“Valuation metrics are just that – a measure of current valuation. More importantly, when valuation metrics are excessive, it is a better measure of ‘investor psychology’ and the manifestation of the ‘greater fool theory.’ As shown, there is a high correlation between our composite consumer confidence index and trailing 1-year S&P 500 valuations.”The chart indeed suggests that investors should sell everything immediately. However, given that this is monthly data, these turns can and do take much longer than expected. This “lag” leads investors in the short term to believe that “valuations” no longer matter. Such is a dangerous assumption that investors paid dearly for in the past. Valuations do matter, and they matter a lot, just not today.Therefore, when investors are caught in an “unstoppable” bull market, we must revert to price analysis and trading rules to navigate the markets.Navigating An Unstoppable Bull MarketThere are millions of ways to approach technical analysis, and investors use millions of combinations of technical indicators to decipher market movements.I am only going to discuss how we do it with you.Notably, technical analysis does NOT predict the future. It is the study of historical price action, which is the purest representation of the psychology of market participants. From that study, we can make statistical observations about the behavior of market participants in the past. Those assumptions can help form a “guess,” assuming similar variables, about how they may act in the near term.For our portfolio management needs, we keep our analysis very simple. We use one indicator to indicate if prices are overbought or oversold, two moving averages to determine the trend of prices, and Bollinger bands to warn of significant deviations from those moving averages. I show the technical setup in the sample chart below from SimpleVisor.com.When markets rise, we look for “warning signs” that stocks could be due for a short—or intermediate-term corrective period. Conversely, during market declines, we look for indications that markets are oversold and ready to advance. Currently, we are dealing with the former.Historically, when prices move toward the upper bands of 2- or 3-standard deviations above the 50-day moving average (dma), the Williams %R is overbought, and the MACD is crossing lower from a high level, stock prices generally correct to some degree. Such is the potential environment we will likely deal with in the next few weeks as earnings season concludes and the corporate buyback window closes. This is also why we have suggested holding off trading portfolios and increasing cash levels until some of these more overbought conditions are corrected.But that is difficult to do in an “unstoppable” market advance.Trading An Unstoppable MarketIt’s not as hard as you think, once you conquer the emotional side of the equation.Commandment #1: “Thou Shall Not Trade Against the Trend.” – James P. Arthur HuprichLet me be very clear. We are discussing risk management. You must understand the market’s overall trend and when it is changing. The negative price trend of 2022 is now over, and since then, the market has continued to trend positively. While you can argue, fight, and provide all the reasons why “the game is rigged,” the fact is that the market continues to push higher. Those participating are building wealth, those who aren’t...well...aren’t. You have a choice.We are in a “bull market.”. As such, we want to maintain our exposure to equity risk. However, this does not mean we should ignore what the market tells us and let the ebbs and flows wash over us. Eventually, another “ebb” will come, and we will want to reduce risk accordingly. That does not mean selling everything and going to cash.“In a bull market, you can be either long or neutral. In a bear market, you can only be neutral or short.” – Dennis GartmanThe market will eventually pull back, and likely soon. During that correction, prices will likely remain confined to the 50-dma, as noted above. Could a correction be larger? Yes. The market is currently overbought and extended, so we suggest that investors manage risk and remain cautious about committing cash reserves to the market. However, we will want to use corrections that reverse those overbought and extended conditions as an opportunity to increase equity exposure.“Willingness and ability to hold funds uninvested while awaiting real opportunities is a key to success in the battle for investment survival.” – Gerald Loeb Tyler DurdenSun, 05/25/2025 - 10:30
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Congress Is On Track To End America's Battery Boom InsideEVsThe Tax Increase Tucked Into Trump’s ‘Big Beautiful Bill’ Inside Climate NewsHow Electric Vehicles are Targeted by the Republican Policy Bill The New York TimesNew Republican Tax Bill Could Devastate EV Sales by Removing Incentives Car and DriverThe House of Representatives Sends Bill to Senate With EV-Targeting Fees, Tax Credit Elimination MotorTrend
Doug Kass is not impressed by the House of Representatives' tax bill passed this week.
Ours Is A System Of Fraud, Swindles, And Corruption Authored by Charles Hugh Smith via OfTwoMinds blog,But all bubbles pop, and there are no tricks left to fund both the greed of the few and the needs of the many.Every society / economy is a distribution mechanism that distributes:1. Gains2. Losses3. Risk4. The costs of securing the sources of gains.As a general rule, markets / economies don't really care who ends up with the losses, and this is why markets / economies are fundamentally pathological structures: the single-minded focus is to maximize gains and minimize costs and losses by distributing them to others by any means available.As a general rule, societies have to manage the distribution in a slightly less pathological manner to keep the status quo from being overthrown by those forced to bear the costs and losses. As Mao famously observed, "political power grows out of the barrel of a gun," and so the sociopaths sluicing the gains into their own pockets and dumping the costs and losses on the economically / politically powerless without regard for social stability find the way of the Tao is reversal as those getting the crumbs eventually have nothing left to lose.In other words, markets / economies are embedded in a social structure, not the other way round. And the social structure has to balance the distribution fairly enough to keep the majority from concluding they have nothing left to lose by throwing their lot into overthrowing the status quo.We can gussy this structure up with a lot of theorizing and references to Plato, Marx and Machiavelli and hundreds of other players in the longstanding drama, but these are the fundamental forces in play: do the sociopaths have enough political and financial power to channel most of the gains to themselves and dump the costs and losses on others, or is the system capable of enforcing some limits on the sociopaths?I submit that the United States is in the firm grip of the single-minded few focused solely on maximizing their gains and distributing costs and losses to others by any means available. The social and political restraints that placed modest limits on the aggregation of power and wealth into the hands of the few have crumbled, and this structural collapse has been hidden behind flimsy billboards hyping the latest in distractions: AI, tariffs, stablecoins, Rich Mom fashions, etc.These flimsy distractions are about to be blown over by the windstorm of recession and social disorder as the American households clinging on to the fantasy of The American Dream as all the costs and losses are dumped on them as the gains flow to the top 10% finally throw in the towel on the status quo.The entire bloated, distorted beast has been living on buy now, pay later skims and scams, and the debt pushers have turned enough of the populace into debt-junkies that there's few new customers left to addict.The entire travesty of a mockery of a sham is out of balance and cannot be restored with the usual magic tricks. The interests of the citizenry--supposedly respresented by elected officials--have been trampled underfoot by a thundering herd of fraud, swindles and corruption, the means by which the sociopaths control the distribution of gains, losses, costs and risks.This systemic dominance of fraud, swindles and corruption has been not just normalized but hyper-normalized: we all know the entire system is hopelessly compromised by corruption, but since we're powerless to change this distribution, we act as if this is normal, and go about our business, debating AGI (artificial general intelligence) and other absurdities to pass our time while we await the inevitable reversal of fortunes.Here is the real distribution of gains, losses, costs and risks in America: the gains go to the most corrupt few and the losses, costs and risks are distributed to the many. Here are three of the latest manifestations of fraud, swindles and corruption among a seemingly countless stream of self-serving outrages that are no longer outrages, they're just the way things work now.Here's how Corporate America takes care of its customers: the gains are ours, the risks are yours. It's taboo to call things what they are, so we can't say that Corporate Anerica is pathological--even when it is:A Devastating New Expose of Johnson & Johnson Indicts an Entire System.Revealed: UnitedHealth secretly paid nursing homes to reduce hospital transfers.Owner-Occupancy Fraud and Mortgage Performance. (rampant mortgage fraud... again)As always, I am honored to share a remarkable data base of Corporate Fines and Settlements from the early 1990s to the present compiled by Jon Morse. There are 2700 entries, updated through December 2024.What's finally happening is the system can no longer collect enough resources to fund the minimum required to satisfy the sociopaths and the minimum required to satisfy the bottom 90%, so something's gotta give. The solution has always been straightforward: print or borrow another couple trillion dollars to fund the greed of the sociopaths and whatever it takes to keep the herd from stampeding.The trillions are getting harder to print/borrow, and so it's finally squeeze-time. Gosh, this is actually kinda hard: do we squeeze the sociopaths, who scream bloody murder at any reduction of their gains, or do we squeeze the bottom 60% who are already on the cliff edge? Can we sorta kinda squeeze both enough to keep the status quo intact?This isn't sustainable stability: it's entropy dressed up in the finery of stability. The sociopaths have concentrated sufficient financial and political power to stave off any real reductions in their distribution of the gains, and so the costs and losses will be distributed to the bottom 90% in various forms, as usual. Only some percentage of the bottom 90% no longer has sufficient credit or income buffers to absorb more losses, costs and risks.The last trick in the status quo's hat is a credit-asset bubble that generates an illusion of unending wealth for everyone: wealth for those who own the assets, of course, and wages for everyone below due to the trickle down effect where you buy a $1 million vacation home and I live in my car in a parking lot working in town:In a Snow Paradise, They Live in This Parking Lot: People experiencing homelessness can sleep in their cars in this wealthy ski town in Colorado, but only if they have a job.But all bubbles pop, and there are no tricks left to fund both the greed of the few and the needs of the many. The top 0.01% own five times as much as the bottom 50%--170 million Americans. That's some very pretty entropy dressed up as stability.Look, I wish it were different, but the facts speak for themselves:Do we hear the chorus of complaints of the top 0.1%? Why oh why aren't the bottom 50% delighted to own 2.5% of total household net worth? It's more than enough, right?This makes the impossible--a reshuffling of the social order on a grand scale--not just possible but inevitable. Nobody saw it coming, etc. Um, yeah, sure, whatever.* * *Become a $3/month patron of my work via patreon.com.Subscribe to my Substack for free Tyler DurdenSat, 05/24/2025 - 22:10
U.K. Prime Minister Keir Starmer has achieved some major economic wins for the U.K., but his popularity is at a record low. The latest survey by pollster YouGov showed that 69% of voters now have an unfavorable view of Starmer. Cost of living pressures continue to worry ordinary British voters, while businesses reckon with Labour-led tax rises.A year into the job, U.K. Prime Minister Keir Starmer has scored some key wins, including recently signing major trade deals with the U.S., India and European Union that will boost the British economy and wages.Opinion polls paint a different picture of his success.A survey by pollster YouGov, published in mid-May, showed that the British public’s approval the prime minister has plummeted to a record low, with 69% of voters now having an unfavorable view of Starmer, while just 23% regard him enthusiastically.More worryingly for the Labour Party leader, the fall in popularity is concentrated among Labour voters, half of whom (50%) now have an unfavorable view of Starmer — a 17-point increase from the last poll in mid-April. The share of Labour voters with a favorable opinion of him has meanwhile fallen from 62% to 45% over the month.With things seeming to point in the right direction for the British economy, what’s going wrong for its prime minister?Trade deals amid domestic pressuresThe U.K.’s leadership might be touting their impressive record on trade deals recently, but cost-of-living pressures continue to worry ordinary British voters, and businesses are reckoning with Labour-led tax rises.The U.K.’s annual inflation rate hit a hotter-than-expected 3.5% in April, up sharply from 2.6% in March, according to data released by the Office for National Statistics (ONS) on Wednesday.The data highlighted increasing pressures on British households, as prices of electricity, gas and other fuels rose by 6.7% in the year to April. The prices of water and sewerage meanwhile added 26.1% in the month to April, marking the largest monthly hike since at least February 1988, the ONS said.Read moreTrump unveils United Kingdom trade deal, first since ‘reciprocal’ tariff pauseUK and European Union agree to post-Brexit reset dealUK and India strike a trade deal amid U.S.-led tariff tensionsBritish businesses now face a higher tax burden as a result of government policies introduced in the “Autumn Budget,” as well as other measures deemed be many economists to be “anti-growth.” These include limits on immigration set to affect foreign workers — who are key to a number of sectors — a rise in the national minimum wage and reforms to workers’ rights, which put pressure on many small and medium-sized firms.As such, lofty trade deals promising economic growth and investment that will take time to feed through are cold comfort for many British consumers and businesses struggling right now.“On domestic policy, this government hasn’t scored well so far; let’s give it a C-minus,” Kallum Pickering, chief U.K. economist at Peel Hunt, told CNBC’s “Europe Early Edition” on Wednesday. “[We’ve seen] mostly anti- growth measures and that’s the thing that disrupted bond markets over the past few months.”On foreign and international policy, the government is “doing a fairly good job,” with its latest trade deals a testament to that, Pickering said.“Starmer has contained the downside risk that the U.K. and the U.S. could really escalate on trade. It’s not a good deal, but it contains downside risk. The U.K.-India deal is actually a strong signal that the U.K. is open for business. And if you read the press, people that are unhappy with the deal that the U.K. and the EU is striking but, actually, what’s the alternative?” he asked.Big business leaders say they’re happy with the British government’s general direction of travel, with C.S. Venkatakrishnan, group chief executive of Barclays, telling CNBC Thursday that it was “absolutely on track.”“If you look at if you look at what they’ve achieved over the last few weeks, they’ve had trade deals with the U.S., with India, with Europe, important trading partners. They continue to be repairing relationships with Europe, which they need to,” he told CNBC’s Steve Sedgwick.Inflationary pressures, he noted, were evident but were not yet leading to “consumer distress,” the Barclays exec believed.“We’re in fact seeing conduit continued consumer strength, but it’s coming because of people managing their balances and their finances prudently. So [they’re] economizing. The job market is still strong. But as you see ... people are worried about inflation. People are worried about cost, whether it’s winter fuel bills or whether it’s more generalized inflation from tariffs, and the only real answer to that is growth, which is what this government is focused on, and what we want to help them.”Personality problemAlthough some quarters welcome Keir Starmer’s calmer and less bombastic approach to leadership than politicians like Reform UK leader Nigel Farage or former Prime Minister Boris Johnson, he continues to face criticism that his leadership style and personality hold him and the Labour Party back.CNBC has contacted the Labour Party for comment on Starmer’s poll ratings and is awaiting a reply.“Starmer has great positives — [signing] the trade deals” for one, Bill Blain, strategist and founder of Wind Shift Capital, said that the prime minister’s lack of charisma is a deficit.“But he is dull, boring and precise. He is competent, but he is not a personality and lacks political charisma ... Farage has it in spades. So did Boris Johnson,” he told CNBC Tuesday.Phil Noble | ReutersBritish opposition Labour Party leader Keir Starmer and Shadow Chancellor of the Exchequer Rachel Reeves react during a campaign event at a farm in Oxfordshire, Britain, July 1, 2024. “A additional problem is Starmer lacks able cabinet colleagues able to create the illusion of a cabinet of smart, leaders. Some are settling into their roles but most look out their depth. This is particularly true of Rachel Reeves ... who is naturally not a risk taker,” Blain added.“The bigger issue is the narrative — Labour present it as doing the right thing to control spending, but it’s backfired as insensitivity to their voters. They are perceived as cruel,” he said.Starmer is coming “under pressure,” Blain noted, increasing the risk that rank and file Labour lawmakers “will revolt if the polls bite.”“That may be happening — [meaning] mutiny!,” he said.
A man was arrested Friday after being accused of kidnapping an Italian tourist and torturing him for weeks inside a Manhattan home in a bid to steal the alleged victim’s Bitcoin.
"Completely Insane": Wired Posts DIY Video For Mangione's Ghost Gun YouTube's content rules apparently don't apply to corporate media darlings. Case in point: Wired (Publisher: Condé Nast) recently published a video walking viewers through the exact process of building a copycat version of the untraceable 9mm "ghost gun" allegedly used in the UnitedHealth CEO shooting by Lugi Mangione. Completely insane. Wired publishing a How To guide for attention starved lunatics to commit high-profile political murders. They're practically begging for a copycat. pic.twitter.com/QGPLDw7gRc— Lomez (@L0m3z) May 23, 2025"So, armed with a shopping list and a credit card, we ordered everything we needed. A 3D printer, plastic filaments, and household products like epoxy were all just a few clicks away on sites like Lowe's or Amazon. And the more specialized components were available on sites that sell gun parts, just not the guns themselves," Wired's Andy Greenberg explained to viewers in the video. Greenberg continued, "A few days later, every ingredient I needed to make Mangione's gun arrived in the mail for the grand total of $1,144.67 plus shipping. And that includes the price of the 3D printer. This is like Christmas Day. This looks like a slide, very much like an obvious gun part. Kind of crazy that you can just order this." The video then spent five minutes showing viewers the printing and assembly processes. He outsourced the assembly of the pistol to YouTube Print Shoot Repeat. After assembling the 3D-printed pistol, Greenberg took it to a shooting range and fired several magazines through it; the weapon performed as expected.Meanwhile, YouTube explicitly prohibits content that provides instructions on manufacturing firearms, including ghost guns. The policy even states:"Don't post content on YouTube if the purpose is to do one or more of the following: Provide instructions on manufacturing any of the following: Firearms."Meanwhile, independent firearm enthusiasts regularly get their videos pulled, age-restricted, or demonetized for far less. The double standard is obvious: if you're mainstream media, you get a pass — but if you're just a gun hobbyist or DIY engineer, the censorship hammer comes down hard.Why is Wired effectively providing a how-to guide on building a copycat weapon, especially when it's being served up to Luigi Mangione's fanbase of unhinged Marxist leftists? * * * Watch the video Tyler DurdenSat, 05/24/2025 - 21:35
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Flowco Holdings ("Flowco" or "the Company") (NYSE: FLOC) for violations of the securities laws.The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Flowco reported its financial results for Q1 2025 on May 13, 2025. The Company missed consensus estimates on revenue and GAAP earnings. The ...Full story available on Benzinga.com
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Fulgent Genetics, Inc. ("Fulgent" or "the Company") (NASDAQ: FLGT) for violations of the securities laws.The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Fulgent disclosed as part of its annual report filed with the SEC on February 28, ...Full story available on Benzinga.com
Trump news at a glance: don’t trade threats with us, EU warns The GuardianTrump threatens 25% import tax on Apple unless iPhones are made in the US MSNTrump's tariff threat ignites EU countermeasures on tech giants MSNEurope is standing up to Trump tariffs – it could impact the UK MSNTrump suggests 50% tariff on EU goods starting in June MSN
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Doug Casey On The Neocons And Their Push For The Next Big War Via InternationalMan.com,International Man: Who exactly are the neoconservatives—where did this movement originate, what do they fundamentally believe, and why does their ideology seem so relentlessly focused on promoting war and global intervention?Doug Casey: Most of the neocons have a background as socialists or hardcore leftists. But the neocons are smarter than the average statist in that they could see that socialism was a failure—it wasn’t working anywhere. So what they did was adopt conservative-seeming economic policies, while maintaining all the other trappings of socialism.Neocons are universally state worshipers. They don’t believe in principles as a matter of principle. You could say that a foundational thinker for the neocons is Niccolò Machiavelli, who promoted the idea in his book The Prince that whatever works and accomplishes the goal of the ruler should be done—that it’s counterproductive to think in terms of right, wrong, or morality.Many neocons self-identify as Wilsonians. Woodrow Wilson was one of the very worst presidents, responsible for the income tax, the Federal Reserve, US participation in WW1, and trying to “make the world safe for democracy,” among other things.International Man: The neocon agenda appears to be intellectually rooted in figures like Leo Strauss and even Trotsky. How do you explain the rise of this ideological blend within what many still call the “conservative” movement?Doug Casey: They only seem conservative because they’ve found it useful to adopt free market–seeming economic policies. This goes back to the long-standing confusion between capitalists and fascists.Socialists believe in state ownership of the means of production—factories, farms, mines, and the like. Capitalists, however, believe in private ownership of the means of production, as well as private control over them. Fascists—a word that was coined by Mussolini, incidentally—also believe, or at least tolerate, the private ownership of the means of production. That’s why they’re easily confused with capitalists. But fascists believe in complete state control over the means of production, while leaving ownership in private hands.This is why there’s so much confusion in the public’s eyes between capitalism and fascism. The key difference is control, and a strong partnership between the private and public sectors. That greatly enhances the ability of business owners to enrich themselves, at the expense of the average worker.In point of fact, neocons are all fascists—in every way. They worship the state, just like in fascist Germany and Italy, where industries were privately owned but completely tied to the interests of the state. Almost all the world’s economies are fascist; there are no pure capitalist or socialist countries. We really should call the neocons fascists.They also have an aggressive foreign policy, which fascists are known for. They’re fascists in every way, including their support for substantial welfare programs for the populace.International Man: Despite a track record of costly failures—from endless wars to ballooning government power—why do neoconservatives still wield such influence? Why does anyone in Washington or the media continue to take them seriously?Doug Casey: I’d say it’s because of their outspoken belief that the State should be the central influence in society. That the government should be the country’s dominant force, not the family, religion, business, or other civil institutions. People now go along with that. It’s understandable that everybody wants a big brother to kiss all their problems and make them better. The average person, who wants something for nothing, a free lunch, is morally weak. And he’s intellectually confused by statist propaganda.If you create a powerful state which promises to not only take care of you, but also to “win” against other states, a lot of people will respond. Many treat the State the same way football fans treat their favorite teams: “we” will win against “them.” It’s easy to get the hoi polloi hooting and panting like chimpanzees against some fabricated enemy.Intellectuals have coined arguments that cater to this kind of mass psychology, and people go for it. They like the idea of being protected and being part of a powerful, winning team.I’ve met any number of well-known neocons personally. Charles Krauthammer, Bill Bennett, and Paul Wolfowitz among them. They’re intellectuals and quite civilized on the surface. But all of them promote completely evil and destructive ideas. The fascist system we have has treated them very well. They’ve become much wealthier than they could have under socialism or capitalism.International Man: Trump and his envoy, Steve Witkoff, have recently called out the neocons by name.Figures like Douglas Murray have suggested the term ‘neocon’ is the new n-word. Mark Levin has gone so far as to label its use anti-Semitic.Why are some neocons using accusations of racism to shut down legitimate and important discussions?Doug Casey: A great way to shut down any discussion today is to call your opponent a racist. And this has some grounding with neocons because a large majority of them—just like a large majority of intellectuals in general—are Jews. Neocons are reflexively pro-Israel as well. I listened to Mark Levin go on a rant about this on his show recently; he was practically frothing at the mouth in anger.It’s odd that people consider it racist to stereotype any group and decry that as a bad thing. It’s not. Stereotypes develop because they reflect reality. Members of stereotyped groups often prefer to pretend that we’re all equal, and their group is just like anyone else. But it’s a fact that birds of a feather flock together.It’s unfortunate that almost all the leading neocon intellectuals are Jews.International Man: The neocons have long pushed for US war with Iran. What would the geopolitical fallout be if they succeed, and how might such a war impact global markets, energy prices, and economic stability?Doug Casey: It would be a huge mistake for the US to attack Iran, as they seem to be planning to do. They’re moving B-52 and B-2 bombers to Diego Garcia, which is within easy striking distance of Iran, while Trump thumps his chest and threatens war. It’s a mistake because Iran is a somewhat advanced society with about 92 million people; it’s hunting big game, not like the pipsqueak countries the US has been losing against for the last 75 years. But also because any outside attack always unites a domestic population. It would unite them against the US, and further empower the Mohammedan ideologues now in charge.It would also be a mistake because it would be immoral—not that anyone cares. The Iranians have never attacked the US. The world is, I think, getting tired of the US promiscuously bombing anyone they like. In fact, almost all of the Islamic terrorism over the last 30 or 40 years has come from Sunni Muslims. The Iranians are Shia Muslims. They don’t get along well with the Sunnis—much like Irish Catholics never got along with Irish Protestants, or Protestants and Catholics in Europe generally never got along back in the days when religion was a factor.It’s suspicious, now that Trump has become so cozy with the Gulf States and Saudi Arabia, which are all run by Sunnis. It makes sense that they’d like to use the US as a cat’s paw to steal Iran’s oil. Just as Israel would like to use the US as a means of taking out their enemy. It looks like the US, and Trump, are being used to do the bidding of the Arabs and the Israelis. Although we’re in no way threatened by the Iranians.If a war did happen, the Iranians are in a perfect position to close the Strait of Hormuz, which is the conduit for around 40% of global oil exports—about 21 million barrels transit the Strait daily. None of it, incidentally, goes to the US. It’s genuinely not our problem.The smart thing for the US is simply to leave Iran alone. If they have problems with their neighbors— Saudi Arabia and particularly Israel—let them sort it out among themselves.Because Iran is a theocracy, making many economic decisions based on religion rather than economics, the current regime will eventually collapse, and the country will reorient. The last thing we need is to carry somebody else’s water by starting a potentially catastrophic war where the US has absolutely nothing to gain, but a lot to lose.* * *As Doug Casey makes clear, the neocon agenda is not only reckless but deeply tied to the growing economic and geopolitical instability we face today. The consequences of their actions could trigger a crisis unlike anything we’ve seen in decades. Read our special dispatch: Guide to Surviving and Thriving During an Economic Collapse — a crucial resource for those who want to not only protect themselves, but come out ahead when the system buckles. Click here to download it now. Tyler DurdenSat, 05/24/2025 - 21:00
Horror as manic passenger tries to kill all onboard flight to Houston with terrifying move Daily MailHouston-bound flight diverted after unruly passenger tried to open emergency door, officials say ABC13 HoustonPassengers and crew restrain passenger who tried to open emergency exit door on Houston-bound flight, airport officials say KHOUHouston-bound flight diverted after passenger allegedly tried to open cabin door Houston ChronicleFlight to Houston forced to land in Seattle after passenger tries to open exit door mid-flight Click2Houston
Did Sam Altman just figure out what AI's been missing? Or did he get locked into the very thinking he's spent his career avoiding?
The Pentagon restrictions on media covering the military follow a series of moves by the Trump administration to curtail press access. The changes overhaul historic access for the press.
Nvidia Reportedly Prepares Mass Production Of Cheaper China-Centric Blackwell AI Chip Nvidia's market share in China has cratered from 95% to 50% over the past four years, driven by the Biden administration's super-aggressive chip export restrictions. The restrictions opened the door for Chinese rival Huawei to seize market share quickly with its Ascend 910B chip.According to Reuters, Nvidia is preparing to launch a new lower-spec AI chip based on a Blackwell architecture design to comply with U.S. regulations and reclaim lost market share in the world's second-largest economy. Those sources say Nvidia's new chip will be priced significantly lower than its recently restricted H20 chip. Those familiar with the production timeline say series production is set for next month.The new chip, expected to begin mass production in June, stays within Washington's 1.7–1.8 TB/s memory bandwidth cap using GDDR7 memory, compared to the H20's 4 TB/s. The sources say a second China-specific Blackwell GPU will be released around September. Sources provided more color on pricing and chip specs:The GPU or graphics processing unit will be part of Nvidia's latest generation Blackwell-architecture AI processors and is expected to be priced between $6,500 and $8,000, well below the $10,000-$12,000 the H20 sold for, according to two of the sources.. . .It will be based on Nvidia's RTX Pro 6000D, a server-class graphics processor and will use conventional GDDR7 memory instead of more advanced high bandwidth memory, the two sources said.They added it would not use Taiwan Semiconductor Manufacturing, opens new tab advanced Chip-on-Wafer-on-Substrate (CoWoS) packaging technology.In recent weeks, Nvidia CEO Jensen Huang secured multi-billion-dollar AI chip deals in Saudi Arabia after President Trump rolled back chip restrictions. Nvidia CEO Sees "No Evidence" Of AI Chip Diversion To China As Trump Rolls Back RestrictionsHuang blasted Biden-era chip curbs, calling them a "failure." Nvidia CEO Calls Biden-Era AI Curbs A "Failure" With ChinaThe clear takeaway: Nvidia aims to reclaim lost market share in China's $50 billion AI chip sector. Tyler DurdenSat, 05/24/2025 - 20:25
SAN DIEGO, May 24, 2025 (GLOBE NEWSWIRE) -- The law firm of Robbins Geller Rudman & Dowd LLP announces that the Organon class action lawsuit – captioned Hauser v. Organon & Co., No. 25-cv-05322 (D.N.J.) – seeks to represent purchasers or acquirers of Organon & Co. (NYSE:OGN) securities and charges Organon as well as certain of Organon's top executives with violations of the Securities Exchange Act of 1934.If you suffered substantial losses and wish to serve as lead plaintiff of the Organon class action lawsuit, please provide your information here:https://www.rgrdlaw.com/cases-organon-co-class-action-lawsuit-ogn.htmlYou can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected]. Lead plaintiff motions for the Organon class action lawsuit must be filed with the court no later than July 22, 2025.CASE ALLEGATIONS: Organon develops and delivers health solutions through prescription therapies and medical devices.The Organon class action lawsuit alleges that defendants throughout the class period made false and/or misleading statements and/or failed to ...Full story available on Benzinga.com
President Donald Trump delivered remarks to graduates of the U.S. Military Academy at West Point. He touted his administration’s changes to the military, including eliminating diversity, equity and inclusion programs. “You are the first West Point graduates of the golden age of America,” Trump told the graduates.President Donald Trump touted his administration’s changes to the military during a commencement address at the U.S. Military Academy at West Point on Saturday that at times resembled a campaign-style speech.“You are the first West Point graduates of the golden age of America,” Trump, wearing his trademark red, ‘Make America Great Again’ hat, said to the graduating class.“This is the golden age, and you are going to lead the army to summits of greatness that has never reached before,” he added.During remarks that spanned almost an hour, Trump promoted an “America First” worldview and he touted the strength of the U.S. military, which he claimed credit for bolstering.He told the graduates they are becoming “officers in the greatest and most powerful army the world has ever known.”“And I know, because I rebuilt that army, and I rebuilt the military, and we rebuilt it like nobody has ever rebuilt it before in my first term,” Trump said.His remarks mixed elements of a traditional graduation speech, such as advice to the students, with aspects reminiscent of his 2024 campaign speeches, including criticisms of his predecessors.Trump also used the remarks to highlight his administration’s achievements.“The military’s job is to dominate any foe and annihilate any threat to America, anywhere, anytime and any place,” he said.“A big part of that job is to be respected again, and you are, as of right now, respected more than any army anywhere in the world,” he continued. Harvard sues Trump administration over ban on international student enrollmentMusk’s DOGE expanding his Grok AI in U.S. government, raising conflict concernsTrump’s 5% NATO defense spending target ‘very difficult,’ Greece’s PM saysHarvard blocked by Trump administration from enrolling international studentsTrump recommends 50% tariff on European Union starting June 1Firm tapped to modify gift jet into AF1 settles false claims case for $62MSupreme Court insulates Fed board while backing Trump firing of agency leadersHe accused past administrations of sending some U.S. soldiers “on nation building crusades to nations that wanted nothing to do with us.”Trump’s remarks come as his administration has zeroed in on military academies as part of its broader crackdown on diversity, equity and inclusion programs (DEI) across the country.He praised those efforts during his address. “We’ve liberated our troops from divisive and demeaning political trainings,” Trump said.West Point eliminated a number of cultural clubs, such as the Asian-Pacific Forum Club, the Japanese Forum Club and the Latin Cultural Club, following Trump’s executive order removing DEI programs from the military, NBC News reported.The Pentagon has also directed military academies, including West Point, to remove books that include mentions of racism or sexism from their libraries, according to the New York Times.
What to Expect (and Not Expect) From OpenAI and Jony Ive's AI-Centric 'Screenless Phone' CNETSam and Jony introduce io OpenAIExclusive | What Sam Altman Told OpenAI About the Secret Device He’s Making With Jony Ive WSJSteve Jobs once called designer Jony Ive his 'spiritual partner' at Apple—OpenAI just bought his tech startup for $6.4 billion CNBCOpenAI Unites With Jony Ive in $6.5 Billion Deal to Create A.I. Devices The New York Times
"Hope Out of Fire," on display at the Shops in Santa Anita and at the Nixon Library, features 40 compelling images from photojournalists who covered the Eaton and Palisades wildfires.
New Nuclear Power Could Meet 10% Of Projected Data Center Demand Increase By 2035 By Brian Martucci of UtilityDiveSummary: New nuclear power capacity could meet about 10% of the projected increase in data center electricity demand by 2035, Deloitte said in an April 9 report.Deloitte expects data centers to consume about 30%, or 11 GW to 19 GW, of the estimated 35 GW to 65 GW of new nuclear capacity added over the next decade through a combination of power uprates at operational plants, restarts of recently-retired reactors, and new reactor deployments at greenfield and existing power plant sites.Existing nuclear power plants and retired or retiring coal power plant sites will support the vast majority of new nuclear capacity interconnection, with respective contributions ranging from 10 GW to 20 GW and 20 GW to 30 GW, Deloitte said.Deloitte expects total U.S. data center electricity demand to increase five-fold from 33 GW in 2024 to as much as 176 GW in 2035, based on its analysis of recent projections from DC Byte, Wells Fargo and others, it said in the report.Along with transportation electrification, data center growth will drive an expected 50% increase in U.S. electricity demand through 2050, the National Electrical Manufacturers Association said earlier this month in a separate report.Deloitte’s forecast is sensitive to changes in the rate and scale of data center deployment, but nuclear has inherent advantages — reliability, high capacity factor, low emissions, compact physical footprint and competitive energy costs over assets’ multi-decade operational lives — that make it attractive across a range of scenarios, the consultancy said.“We think you’re going to see people looking at existing nuclear infrastructure and adding capacity through those assets, then placing bets on technology development,” said Martin Stansbury, report co-author and principal in Deloitte’s Energy, Resources & Industrials practice.The tech-giant “hyperscalers” driving the data center boom have already done both. In September, Microsoft and Constellation Energy announced a 20-year power purchase agreement that would enable the undamaged, 835-MW reactor at Constellation’s Three Mile Island plant to resume operations by 2028. The reopening of the Pennsylvania plant, since renamed the Crane Clean Energy Center, is ahead of schedule, Constellation said earlier this year.Also last fall, Amazon, Google and Meta each announced significant efforts to meet future energy demand with new nuclear capacity. Amazon could deploy more than 5 GW of new capacity by 2039 using X-energy’s small modular reactor technology, Google tapped Kairos Power to provide 500 MW of SMR capacity by 2035, and Meta issued a request for proposals for up to 4 GW of new nuclear deployments beginning in the early 2030s.Despite those long lead times and recent Trump administration efforts to prop up the U.S. coal industry, new nuclear is likely to find a niche as a reliable source of increasingly cost-competitive baseload power, Stansbury said.“SMRs have a major role to play in future grid reliability,” he said.SMRs have additional benefits for data centers in particular, including more secure fuel forms, self-starting and grid “islanding” capabilities, and the ability to operate continuously for long periods of time, Deloitte said.Existing nuclear and coal-fired power plants could support much of the new generation capacity the U.S. data center industry needs in the coming decade. The U.S. Department of Energy projected last year that U.S. nuclear and coal power sites could host up to 269 GWe of new nuclear, and at least 11 states have expressed interest in supporting coal-to-nuclear conversions, Deloitte said.But with 2024 construction costs ranging from $6,417/kW to $12,681/kW, compared with $1,290/kW for new gas-fired power plants, nuclear developers have a lot of work to do to bring down costs in the coming years, Deloitte said. To scale, the industry needs to invest in advanced project management processes, design innovations like digital twinning, and further improvements in modular construction, it said. Tyler DurdenSat, 05/24/2025 - 10:30
"UndocuGraduation" Ceremonies For Illegal Aliens Include Guidance On ICE Raids By Emily Sturge of CampusReformThis graduation season, three universities in California and a university in Washington will hold “UndocuGraduation” ceremonies to celebrate illegal immigrant students. Universities paired the event announcements with commitments to protect the identities of student attendees by not releasing any “data related to immigration status” unless presented with a “judicial warrant, subpoena, or court order,” according to a message on behalf of the California State University system. “Immigration enforcement is the responsibility of U.S. Immigration and Customs Enforcement, not the university,” a message from California State University Long Beach states. California State University, Longbeach (CSULB) will host a “Beyond Borders Graduation Celebration” for illegal immigrant students on May 10, according to a university webpage. California State University, Northridge (CSUN) will host an “UndocuGraduation” ceremony May 3, according to an Instagram post. “Join us at UndocuGraduation to honor your achievement as an undocumented, DACAmented, or mixed status graduating Matador,” the event page states. The event will be hosted by CSUN’s DREAM Center, which is part of the university’s student union and provides resources such as an “Immigration Preparedness Toolkit.”CSUN is also instructing students to report “ICE sighting[s] on campus” and sharing guidelines explaining what to do if you are an illegal immigrant approached by immigration officers. The university is providing “red cards” that direct illegal immigrants on how to act if approached by law enforcement and instructing illegal immigrant students to “give the red card to the agent,” per a social media post. “Do not open the door...do not answer any questions...do not sign anything,” the red card reads. California State University, Fullerton (CSUF) will host an “Undocu Recognition Celebration” May 3.The website describes the ceremony as “an event where we celebrate the undocumented graduating students and their accomplishments through their higher education career.”It will be hosted by the university’s “Titan Dreamers Resource Center,” a campus resource dedicated to providing resources to illegal immigrant students, including “immigration legal services, personal and professional development programs, and connecting students to financial and academic resources.”The Titan Dreamers Resource Center at CSUF is also holding a “Pan-Afrikan Recognition Celebration” in partnership with the university’s Black Faculty and Staff Association, an “Asian Pacific Islander South Asian American Recognition Celebration,” a “Nuestra Graduación” for “Latinx students,” and a Lavender graduation ceremony for LGBTQ+ students. In a nearby state, the University of Washington (UW) in Seattle will hold an “Undocu Graduation Celebration” on May 23. The ceremony will be hosted by the university’s Samuel E. Kelly Ethnic Cultural Center, which previously held an “Undocu Student Wellness Day” event for illegal immigrant students in January.At the January event, the university invited illegal immigrant students to “Join us for destressing through arts and crafts, grabbing a snack, and watching a movie,” the Ethnic Cultural Center shared on Instagram. UW will also hold a Black Graduation Celebration, Filipino Graduation Celebration, Latine Graduation Celebration, Native Graduation Celebration, and Pasifik Graduation Celebration. “CSU Fullerton and all Cal State Universities work to ensure all students feel welcomed and have the tools they need to succeed, regardless of immigration status,” a message from the university states. Tyler DurdenFri, 05/23/2025 - 22:35
Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google DeepMind CEO Demis Hassabis has offered a more cautious outlook on the arrival of artificial general intelligence (AGI) than the tech giant's co-founder, Sergey Brin. What Happened: In a conversation on the Hard Fork podcast by the New York Times this week, the interviewer pointed out that Brin thinks AGI will come before 2030, while Hassabis says just after 2030.This raised an intriguing question: given that both individuals likely have access to similar data, roadmaps, and insights into the state of AI development, what accounts for their differing forecasts on AGI's arrival? What is one seeing that the other is not?In response, Hassabis said that he is sticking to a timeline he's maintained since DeepMind's founding in 2010."We thought it was roughly a 20-year mission, and amazingly, we're on track," Hassabis said. "It's somewhere around there, I would think."See Also: Sundar Pichai Reveals Google-Parent Once Super Intensely Debated About ...Full story available on Benzinga.com
It is very rare — if not outright unheard-of — for a subdivision homeowners association to shell out capital to act as a developer.
Justice Department reaches deal to allow Boeing to avoid prosecution over 737 Max crashes
US Gasoline Prices Heading Into Memorial Day Weekend Are The Lowest Since COVID The retail price for regular-grade gasoline in the United States on May 19, the Monday before Memorial Day weekend, averaged $3.17 per gallon (gal), 11% (or 41 cents/gal) lower than the price a year ago. Thanks to the ongoing slide in oil prices, after adjusting for inflation (real terms) average U.S. retail gasoline prices going into Memorial Day weekend are 14% lower than last year, according to EIA calculations. They are in fact, lower than where they were coming into Memorial Day every year this decade except 2020, in the immediate aftermath of covid.Memorial Day weekend is one of the biggest travel weekends of the year, and many of those travelers will go by car. The American Automobile Association (AAA) expects 39.4 million people will travel by car over Memorial Day weekend this year, an increase of 3% compared with last year.Substantially lower crude oil prices, the main component of retail gasoline prices, have kept retail gasoline prices lower than usual going into spring. From May 1 to May 19, Brent crude oil prices averaged $64 per barrel (b), 20% less in real terms than in January and 26% less than in May 2024. Concerns about future economic growth, record-high U.S. crude oil production, and, more recently, announcements that OPEC+ will accelerate crude oil production increases have contributed to falling crude oil prices.Retail gasoline prices on the Monday before Memorial Day weekend are only 4% (or 13 cents/gal) higher than on the first Monday of January. Retail gasoline prices typically increase much more than that as gasoline demand increases going into the summer driving season and retailers are required to start selling more expensive summer-grade gasoline. Over the last 10 years and excluding 2020, retail gasoline prices increased 19% (or 49 cents/gal) on average from January to May.U.S. gasoline prices vary regionally, reflecting local supply and demand conditions, state fuel specifications, and state taxes. Retail gasoline prices are usually the highest on the West Coast because of:The region’s limited connections with other major refining centersTight local supply and demand conditionsHigher-than-average state taxes in several West Coast statesGasoline specifications for California that make gasoline more costly to manufactureOn May 19, West Coast prices averaged $4.29/gal, down 10% in real terms from this time last year.Gasoline prices on the Gulf Coast are usually the lowest of any U.S. region. Gulf Coast states are home to more than half of U.S. refining capacity, and more gasoline is produced than is consumed in the region. Gulf Coast states also have lower gasoline taxes than the national average. Gulf Coast prices on May 19 averaged $2.79/gal, down 13% from this time last year.On the East Coast, which has the most gasoline demand of the five regions, retail gasoline prices averaged $2.99/gal, down 17% from 2024.Prices are also down in the Midwest and the Rocky Mountains compared with last year. Midwest prices averaged $3.03/gal, down 15% from the previous year, and Rocky Mountains prices averaged $3.13/gal, down 12% from 2024 after adjusting for inflation. Tyler DurdenFri, 05/23/2025 - 22:10
SAN DIEGO, May 23, 2025 (GLOBE NEWSWIRE) -- Robbins LLP informs stockholders that a class action was filed on behalf of investors who purchased or otherwise acquired Red Cat Holdings, Inc. (NASDAQ:RCAT) securities between March 18, 2022 and January 15, 2025. Red Cat, together with its subsidiaries, provides various products, services, and solutions to the U.S. drone industry.For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.The Allegations: Robbins LLP is Investigating Allegations that Red Cat Holdings (RCAT) Misled Investors Regarding its Production CapacityAccording to the complaint, during the class period, defendants failed to disclose that: (i) the Salt Lake City Facility's production capacity, and defendants' progress in developing the same, was overstated; and (ii) the overall value of the SRR (U.S. Army's Short Range Reconnaissance Program of Record) Contract was overstated.The complaint alleges that ...Full story available on Benzinga.com
Apple CEO Tim Cook’s Bad Year Keeps Getting Worse WSJ
Justice Department reaches deal to allow Boeing to avoid prosecution over 737 Max crashes
Tech firms are using AI to analyze how their clients’ global supply chains are affected by U.S. President Donald Trump’s reciprocal tariffs. Salesforce developed an AI tariff agent that it says can “instantly process changes for all 20,000 product categories in the U.S. customs system.” Uncertainty from the U.S. tariff measures “presents AI’s moment to shine,” according to Zack Kass, a former OpenAI executive.Businesses are turning to artificial intelligence tools to help them navigate real-world turbulence in global trade.Several tech firms told CNBC say they’re deploying the nascent technology to visualize businesses’ global supply chains — from the materials that are used to form products, to where those goods are being shipped from — and understand how they’re affected by U.S. President Donald Trump’s reciprocal tariffs.Last week, Salesforce said it had developed a new import specialist AI agent that can “instantly process changes for all 20,000 product categories in the U.S. customs system and then take action on them” as needed, to help navigate changes to tariff systems.Engineers at the U.S. software giant used the Harmonized Tariff Schedule, a 4,400-page document of tariffs on goods imported to the U.S., to inform answers generated by the agent.“The sheer pace and complexity of global tariff changes make it nearly impossible for most businesses to keep up manually,” Eric Loeb, executive vice president of government affairs at Salesforce, told CNBC. “In the past, companies might have relied on small teams of in-house experts to keep pace.”Firms say that AI systems are enabling them to take decisions on adjustments to their global supply chains much faster.Andrew Bell, chief product officer of supply chain management software firm Kinaxis, said that manufacturers and distributors looking to inform their response to tariffs are using his firm’s machine learning technology to assess their products and the materials that go into them, as well as external signals like news articles and macroeconomic data.“With that information, we can start doing some of those simulations of, here is a particular part that is in your build material that has a significant tariff. If you switched to using this other part instead, what would the impact be overall?” Bell told CNBC.‘AI’s moment to shine’Trump’s tariffs list — which covers dozens of countries — has forced companies to rethink their supply chains and pricing, with the likes of Walmart and Nike already raising prices on some products. The U.S. imported about $3.3 trillion of goods in 2024, according to census data.Uncertainty from the U.S. tariff measures “actually probably presents AI’s moment to shine,” Zack Kass, a futurist and former head of OpenAI’s go-to-market strategy, told CNBC’s Silvia Amaro at the Ambrosetti Forum in Italy last month. Microsoft employees say emails with ‘Gaza,’ ‘Palestine,’ or ‘genocide’ won’t sendOpenAI CFO says AI hardware will boost ChatGPT subscriptions in ‘new era of computing’Founders of Amazon’s PillPack launch health-care marketplace startup General MedicineHinge Health shares climb 17% in NYSE debut“If you wonder how hard things could get without AI vis-a-vis automation, and what would happen in a world where you can’t just employ a bunch of people overnight, AI presents this alternative proposal,” he added.Nagendra Bandaru, managing partner and global head of technology services at Indian IT giant Wipro, said clients are using the company’s agentic AI solutions “to pivot supplier strategies, adjust trade lanes, and manage duty exposure dynamically as policy landscapes evolve.”Wipro says it uses a range of AI systems — both proprietary and supplied by third parties — from large language models to traditional machine learning and computer vision techniques to inspect physical assets in cross-border transit.‘Not a silver bullet’While it preferred to keep company names confidential, Wipro said that firms using its AI products to navigate Trump’s tariffs range from a Fortune 500 electronics manufacturer with factories in Asia to an automotive parts supplier exporting to Europe and North America.“AI is a powerful enabler — but not a silver bullet,” Bandaru told CNBC. “It doesn’t replace trade policy strategy, it enhances it by transforming global trade from a reactive challenge into a proactive, data-driven advantage.”AI was already a key investment priority for global firms prior to Trump’s sweeping tariff announcements on April. Nearly three-quarters of business leaders ranked AI and generative AI in their top three technologies for investment in 2025, according to a report by Capgemini published in January.“There are a number of ways AI can assist companies dealing with the tariffs and resulting uncertainty. But any AI solution’s success will be predicated on the quality of the data it has access to,” Ajay Agarwal, partner at Bain Capital Ventures, told CNBC.The venture capitalist said that one of his portfolio companies, FourKites, uses supply chain network data with AI to help firms understand the logistics impacts of adjusting suppliers due to tariffs.“They are working with a number of Fortune 500 companies to leverage their agents for freight and ocean to provide this level of visibility and intelligence,” Agarwal said.“Switching suppliers may reduce tariffs costs, but might increase lead times and transportation costs,” he added. “In addition, the volatility of the tariffs [has] severely impacted the rates and capacity available in both the ocean and the domestic freight networks.”WATCH: Former OpenAI exec says tariffs ‘present AI’s moment to shine’
Trump threatens tariffs on Apple, European Union in trade war escalation The Washington PostTrump threatens steep tariffs on European Union goods, targets iPhones; live updates Central New Jersey NewsEU calls for US trade deal based on 'respect' after Trump's tariff threats BBCTrump threatens 50% tariffs on EU and 25% penalties on smart phones as his trade war intensifies AP NewsStocks Slide on Deficit and Tariff Concerns The New York Times
The rally comes after Trump dropped another surprise trade bombshell by recommending 50% tariffs on the European Union.
Kura Oncology said one-quarter of patients with certain forms of advanced acute myeloid leukemia went into complete remission after receiving its targeted therapy. In 112 patients from both its Phase 1b and Phase 2 studies ...
It's not every day you can score a cordless stick vacuum for $320 off. Take advantage of this popular deal while you still can.
Vistra (NYSE:VST) has outperformed the market over the past 5 years by 37.19% on an annualized basis producing an average annual return of 51.26%. Currently, Vistra has a market capitalization of $52.99 billion. Buying $1000 In VST: If an ...Full story available on Benzinga.com
Nation needs oil and gas infrastructure to boost energy security in Eastern Canada, says Hodgson The Globe and Mail'Energy is Canada's power': New federal energy minister touts past Alberta oilpatch ties CBCFederal energy minister to speak at Calgary Chamber of Commerce CTV NewsCarney's Energy Chief Pushes Oil Sands to Build Carbon-Capture Systems Financial PostOn a visit to Calgary, energy minister says he'll be a 'voice for Alberta' National Post
Tim Hodgson also pledged to work quickly with provinces and territories, industry and Indigenous partners to diversify trade
China's Two-Decade Global Steel Expansion "Has Now Ended" In Goldman's latest global steel outlook, analysts Aurelia Waltham, Eoin Dinsmore, and others highlight a key inflection point: China's share of global steel production has declined for the first time in over two decades, reversing a multi-decade expansion period. "After more than two decades of China increasing its share of global steel production, we believe this structural trend has now come to an end as China's domestic demand continues to falter and barriers to steel exports intensify," Waltham and her team wrote in a note published on Friday morning.The analysts noted that their global steel supply and demand model forecasted a 3% and 4% year-over-year increase in ex-China steel demand for 2025 and 2026, respectively. As Chinese steel exports are expected to decline, ex-China crude steel production is projected to rise by 3% in 2025 and 8% in 2026. "While we are bearish on US and European steel prices on the three-to-six month horizon, we expect a re-acceleration in demand growth and lower Chinese steel exports to provide price upside in 2026," Waltham said. They outlined the biggest risk to their forecast of China losing global market share:We see the biggest risk to our call that China will start to lose market share of global steel production to the rest of the world over the next two years being indirect[1] Chinese steel exports continuing to climb, pushing down rest of world apparent steel demand. This would likely see China steel demand from the manufacturing sector exceeding our current expectations, preventing a decline in Chinese steel output and apparent domestic demand, while at the same time meaning rest of world steel production growth would fall below end use consumption growth. However, this would be at odds with China's policy to reduce steel output.Following a 25-year expansion that saw China increase its share of global steel production from approximately 15% in 2000 to about 55% by 2020, analysts now forecast a decline to about 50% by 2026.China's steel production for 2025 already peaked in March. Key takeaways about China's declining influence in global steel markets: Peak Reached: China's steel production likely peaked in March 2025 and is expected to decline by 2–3% YoY through 2026.Domestic demand slowdown: A continued decline in construction activity, especially new housing starts (forecasted to drop 24% in 2025), will more than offset gains from manufacturing (e.g., autos and appliances).Export headwinds: Chinese finished and semi-finished steel exports are forecast to drop 33% YoY in 2026, from 12% to under 8% of ex-China steel consumption.Policy risk: If exports or output stay elevated, the Chinese government may impose mandated production cuts (likely via emissions controls) in Q4 2025 to meet policy targets.China's economy is still a mess. Property sector will continue to weigh on steel demand. However, the analysts view a rebound in ex-China steel:Ex-China growth: Production outside China is expected to rise 3% in 2025 and 8% in 2026, helped by recovering demand and lower competition from Chinese exports. Regional demand: Demand in the U.S., EU, and India will gradually improve. Apparent demand outside China is forecast to rise 3–4% annually into 2026.Global Steel Price Outlook: Near-term weakness: U.S. and European prices face further downside in the next 3–6 months due to lackluster demand and high inventories.2026 upside: Prices are forecast to rise in 2026 as Chinese exports fall and global demand picks up, particularly in Asia and the EU. Anti-dumping measures and trade friction will help contain Chinese supply abroad.European Steel Price ForcastUS Hot Rolled Coil Price ForecastThe long-standing concern over China flooding global markets with steel may finally be easing—a shift that could pave the way for Western producers to ramp up output. We anticipate this trend will be evident in the U.S amid President Trump's 'America First' era. Tyler DurdenFri, 05/23/2025 - 10:45
Can OPEC+ Reclaim Lost Market Share from Shale? - As OPEC+ members are expected to gather for their monthly ministerial meeting on June 1, another expedited production hike of 411,000 b/d is on the table, in line with Saudi Arabia’s stated intent to slash voluntary output cuts. - WTI is currently trading around $60 per barrel, which is lower than the $61-62 per barrel breakeven cost for a new well in the Permian basin, an almost exclusive source of US crude supply increments. - OPEC+ is seeking to regain market share lost to shale producers...
Trump threatens 50% tariffs on EU and 25% penalties on Apple as his trade war intensifies
President Donald Trump announced Friday that the Apple technology company faces a 25% tariff on iPhones unless the devices are manufactured in the United States.
President Donald Trump announced Friday that the Apple technology company faces a 25% tariff on iPhones unless the devices are manufactured in the United States.
On Thursday, the Dow Jones finished nearly flat at 41,859.09. The S&P 500 dipped slightly, losing 0.04% to close at 5,842.01. Meanwhile, the Nasdaq edged higher, gaining 0.3% to end the day at 18,925.73.These are the top stocks that gained the attention of retail traders and investors throughout the day:GameStop Corp. (NYSE:GME)GameStop shares rose 10.02%, closing at $30.86. The stock hit an intraday high of $31 and a low of $28.49, with a 52-week range of $48 to $17.70. The surge occurred despite no specific company news, potentially fueled by retail enthusiasm and momentum in the crypto market, as Bitcoin (CRYPTO: BTC) reached a record high. Earlier this year, speculation about GameStop’s involvement with Bitcoin was sparked by a photo of CEO Ryan Cohen with Strategy Chairman Michael Saylor.IonQ Inc. (NYSE:IONQ)IonQ’s stock soared 36.52% to close at $45.79, ...Full story available on Benzinga.com
The company, on track to open 25-30 new clubs over the next two years, benefits from the growing popularity of clubs and superstores.
Phase 1/2 first-in-human clinical study planned this yearSHANGHAI and SAN DIEGO, May 22, 2025 /PRNewswire/ -- Duality Biotherapeutics ("DualityBio", HKEX:09606) partner Avenzo Therapeutics, Inc. ("Avenzo"), a clinical-stage biotechnology company developing next-generation oncology therapies, today announced clearance by the U.S. Food and Drug Administration (FDA) of its investigational new drug application (IND) for AVZO-1418/DB-1418, a potential best-in-class, novel EGFR/HER3 bispecific antibody-drug conjugate (ADC). ...Full story available on Benzinga.com
The bullish energy of the yacht party, complete with open bars, teppanyaki grills and Vegas-style feather headdress-wearing belly dancers, matched the unbridled optimism currently pulsing through the global crypto community. The gathering was hosted during Dubai’s TOKEN2049 conference, which drew more than 10,000 crypto enthusiasts and investors from all over the world. “I think Dubai and Abu Dhabi both really embrace crypto, kind of at every level – and they’re leading the way in regulation,” DogeOS CEO Jordan Jefferson told CNBC.Natasha Turak | CNBCA yacht party hosted by DogeOS during the Token2049 Dubai conference week. Dubai, United Arab Emirates, May 1, 2025DUBAI, United Arab Emirates — On a humid Dubai night in early May, I joined guests gathered on the five-storey, 220-foot long Lotus megayacht to celebrate the culmination of TOKEN2049, a major crypto conference held in the glitzy desert emirate I call home. The party was hosted by DogeOS, the app developer behind the blockchain for Dogecoin, the shiba inu-faced meme coin that saw a rip-roaring rally in 2021 and briefly turned a few bullish buyers into millionaires. It’s part of a long string of high-profile UAE-based industry events and feels like a prescient symbol of the ever-growing exuberance around cryptocurrencies in the Middle East — and globally — right now.The attendees around me spanned a colorful mix; crypto investors and startup founders, programmers, influencers – and those who, after half an hour of conversation, still wouldn’t really explain what they do. “You’ve probably heard of me. Elon retweets me a lot,” one guest said as he introduced himself. I later heard him say the exact same line to three other people. One pair of female attendees promoted their Dubai-based startup that designs business plans for corporates and entrepreneurs “by calculating their astrology and birth chart numerology.” They told me that “millionaires often look down on this science ... but billionaires love it.” Natasha Turak | CNBCBartenders serve guests aboard the 220-foot long Lotus megayacht in the Dubai Marina, May 1, 2025The guests hailed from all over the world, sharing a common passion for the future of decentralized digital currency and the revolutionizing of finance. A microcosm of Dubai itself, the boat was a melting pot of nationalities and characters. One American passenger wearing a cowboy hat and a ninja turtle backpack hawked a meme token featuring a shiba inu in a cowboy hat called $WIT coin, standing for “what in tarnation.” Between shots of tequila he discussed collaboration with crypto enthusiasts who’d flown in from China. Natasha Turak | CNBCAn organizer of the DogeOS yacht party welcomes guests aboard the Lotus in Dubai, United Arab Emirates, on May 1, 2025The guestlist also featured Olaf Carlson-Wee, the bleach-blonde original “bubble boy” of crypto, who was Coinbase’s first employee and later founded Polychain Capital, one of the world’s largest crypto hedge funds. Carlson-Wee, whose net worth is estimated to be in the hundreds of millions, said he is frequently flown in from Los Angeles to work with the UAE government. The Trump crypto train comes to DubaiThe bullish energy of the yacht party — complete with open bars, teppanyaki grills and Vegas-style belly dancers wearing feather headdresses — matched the unbridled optimism currently pulsing through the global crypto community.Posts of “WE’RE SO BACK” have abounded on social media in the months following U.S. President Donald Trump’s return to the White House and his pledge to make America the “crypto capital of the world.” His son Eric Trump, executive vice president of the Trump Organization and board member of Trump-family-owned crypto platform World Liberty Financial, was a keynote speaker at Dubai’s Token2049. He was joined by Zack Witkoff, World Liberty Financial’s co-founder, and the son of Steve Witkoff, the Trump administration’s Middle East envoy.“Smart people, low taxes ... and the willingness to actually look forward and realize that the modern financial system is broken” is part of what makes the UAE so attractive for cryptocurrency enthusiasts like himself, the younger Trump told CNBC during the conference. Speaking onstage at the event on May 1, Eric Trump also announced that the Trump family’s World Liberty Financial would provide the stablecoins for Abu Dhabi state-backed investment firm MGX’s mammoth $2 billion investment into Binance, the world’s largest crypto exchange.“We thank MGX and Binance for their trust in us,” Zack Witkoff told the audience. “It’s only the beginning.”‘Everybody was here’Jordan Jefferson, CEO of MyDoge, the team behind DogeOS, moved from Canada to Dubai in 2022 in search of a more crypto-friendly regulatory environment. At a time when North America was cracking down on the industry, he said the UAE was “embracing it and leading regulation.”“I came out here because it was at the forefront of the industry. And everybody was here – the energy was amazing,” he told CNBC at the yacht party. Jefferson and his colleagues had donned shirts emblazoned with a picture of the Doge shiba inu wearing an Emirati headdress, the kandura, which they dubbed “Habibi Doge.”Natasha Turak | CNBCPart of the Dubai skyline as seen from the DogeOS yacht party on May 1, 2025, in the United Arab EmiratesMajor crypto exchanges like Binance, Crypto.com, OKX, Bybit, and Kraken have received approvals or provisional licenses to operate in the UAE, with many choosing to open offices and regional headquarters there. The Gulf country has also established a “UAE blockchain strategy,” hosts several major crypto events annually and offers visas to remote workers and entrepreneurs along with streamlined procedures for starting businesses.“They’re leading the way in regulation, definitely trying to be one of the premier jurisdictions where everything is fully regulated,” Jefferson said of Dubai and Abu Dhabi. Dubai in 2022 established the Virtual Assets Regulatory Authority, or VARA — the world’s first independent crypto regulator — which oversees virtual asset activities in the emirate and provides licensing and supervision to crypto businesses.Abu Dhabi Global Market in the UAE capital also updated its digital asset framework in 2023, providing a clearer licensing and regulatory environment for crypto exchanges, custodians, and other virtual asset service providers. Scandals and regulationDespite enjoying a rally in prices in recent years, the crypto industry has faced numerous scandals and controversies over time, from the collapse of FTX to the jailing of the crypto exchange’s founder Sam Bankman-Fried and former Binance CEO Changpeng Zhao.Before declaring bankruptcy in November of 2022, FTX had established its regional headquarters in Dubai and was one of the early firms issued a license by VARA in March of that year, as the emirate worked to entice crypto businesses.Zhao, a Dubai resident, has since been released from prison after serving a four-month term on charges of money laundering. He was granted UAE citizenship, though the timing of his Emirati naturalization has not been publicly disclosed.In February, Dubai-based digital currency exchange Bybit revealed it was the victim of a hack that saw cybercriminals make off with $1.5 billion worth of tokens — the largest-ever crypto heist in history.The UAE has learned from its experiences, Token2049 attendees told CNBC.“It’s not easy” to implement robust regulation, Jefferson of DogeOS said. “It’s easy to say, ‘hey, you can do anything here’. It’s harder to do a regulatory framework where other countries around the world will accept it and realize that if you’re a company built here [in the UAE] and under these regulations, it’s legit. So I think that’s probably the most important part.”Natasha Turak | CNBCWalkway of the Dubai Marina, May 1, 2025Several crypto investors described due diligence work in the UAE as having become more sophisticated, but say regulation is at a level that still makes it friendlier to the industry than the U.S. or Europe.“People really feel much safer building crypto companies in Dubai versus in the United States — the U.S. is very over-regulated,” said William Athanas, Miami-based founder of xMarkets, a new prediction market launching on DogeOS. “And that’s something they’re working on – Trump and Elon [Musk] suggested that they would like to remove 10 regulations for every one they add. But we just haven’t really seen that yet.”On the night of the yacht party, May 1, Bitcoin was trading at $94,808. At the time of publishing, it is trading at $110,538.Danni Liu, a Chinese national currently based in Sweden who co-founded LIFE Protocol — a platform that uses the blockchain to enable community-driven scientific research — was in Dubai for the first time to attend the crypto conference and DogeOS boat party.“Before I got here, it felt like the market sentiment was not that high, people were less willing to take risks,” Liu said. “But I came to Dubai, and I see that people are still dancing. I was surprised. The show is going on.”— CNBC’s Ryan Browne contributed to this report.