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SPOKANE — Microsoft employees aren’t getting much time to take a breath between layoff rounds as thousands could be let go in early July, according to news reports.
Three Cheers for Jerome Powell Barron'sTrump's war against the Powell Fed has taken another political turn CNBCExclusive | Trump Considers Naming Next Fed Chair Early in Bid to Undermine Powell WSJInvestors on Edge About a Potential Shadow Fed Chair The New York TimesTrump versus the Fed The American Prospect
It suggests businesses are holding off on hiring new workers because of uncertainty.
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") announces that, further to its news releases dated June 11, 2025, it has closed the first tranche of its non-brokered private placement (the "Private Placement") raising gross...
MAKATI CITY, Philippines, June 25, 2025 /PRNewswire/ -- ACEN, in partnership with UPC Renewables, has commenced construction of two major renewable energy projects in India: a 420 MW solar farm in Rajasthan and a 120 MW wind farm in Karnataka. These new developments mark a significant step forward in ACEN and UPC's strategic expansion into one of the world's fastest-growing clean energy markets. Slated for completion by early 2027, the projects are expected to generate a combined 1,158 GWh of clean electricity annually, enough to power around 241,000 homes and avoid over 876,000 tons of carbon emissions ...Full story available on Benzinga.com
Many on the new nine-member board introduced at Wednesday's meeting are business owners, like the governor.
OAKDALE, Minn., June 25, 2025 /PRNewswire/ -- Rove Pest Control, a trusted name in pest management known for its commitment to exceptional service and customer understanding, today announced that its Madison, Wisconsin operations have been acquired by Greenix Pest Control,...
TORONTO, June 25, 2025 (GLOBE NEWSWIRE) -- Optiva Inc. ("Optiva" or the "Company") (TSX:OPT), a leader in powering the telecom industry with cloud-native billing, charging and revenue management software on private and public clouds, today announced that Patrick DiPietro, Lee Matheson, Simon Parmar, Robert Stabile, Barry Symons, and Birgit Troy were elected to the Company's board of directors (the "Board") at the Company's annual meeting of holders of common shares held earlier today (the "Meeting"). In addition, a resolution was carried at the Meeting to re-appoint KPMG LLP as the auditor of the Company and to authorize the Board to fix the auditor's remuneration.
Mars' acquisition of Pringles' maker triggers EU alarms DWMars’s $30 Billion Takeover of Kellanova Comes Under In-Depth EU Investigation WSJUS FTC says Mars' $36 billion Kellanova deal is not anticompetitive ReutersMars' $36 billion Kellanova deal may lead to price hikes, EU regulators warn Yahoo FinanceMars $36 Billion Kellanova Deal Waved Ahead by US Regulator Bloomberg
ISIS-Inspired Drone War Plans Leaked From US National Security Council Authored by José Niño via Headline USA,According to leaked documents, British and American academics advised the U.S. National Security Council to encourage Ukraine to adopt ISIS-style drone tactics against Russian railways.In a report published by investigative journalist Kit Klarenberg for The Grayzone on Monday, Project Alchemy, a secret academic-intelligence cell whose mission was “to keep Ukraine fighting” by imposing “strategic dilemmas, costs and frictions upon Russia” was revealed as the network allegedly behind these plans.The academic recommendations were delivered to Colonel Tim Wright, who served as the Biden administration’s Director for Russia at the National Security Council from August 2021 to July 2022. The proposals came from three key drone experts within a broader Ukraine Working Group composed of “approximately 60 experts hailing from states throughout NATO” who sought to “assist Ukraine’s defense (short of deploying combat forces).”Zachary Kallenborn from George Mason University’s Schar School advocated for “two-stage attacks like ISIS did frequently” on Russian railways, recommending Ukraine “break the track, and wait for the engineers to come to fix it, then use the drone to kill them.” An unnamed Durham University researcher identified as “M.E.D.” cited Islamic State’s “innovative” use of drones as documented in a July 2018 West Point paper, suggesting commercial drones could be “modified via a simple drop mechanism... to serve as effective munitions delivery platforms.”Dominika Kunertova, formerly of ETH Zurich’s Center for Security Studies and currently directing drone warfare research at the Atlantic Council, recommended targeting “anything that uses” railroads as opposed to the infrastructure itself.These academic blueprints proved prophetic when Ukraine launched Operation Spider Web late last month conducting bold drone attacks inside Russia that killed seven people and injured more than 30, including two children.The timing proved particularly significant as these attacks took place “on the eve of scheduled negotiations between Russia and Ukraine.”Ukrainian forces subsequently destroyed a Russian fuel train late last month using a DJI Mavic III drone, one of the specific models Kallenborn had recommended for modification.The attacks continued through this month with Operation Spiderweb 2.0, demonstrating how the “British-born strategy has heavily influenced the thinking of Kiev’s increasingly desperate military.” Tyler DurdenWed, 06/25/2025 - 22:35
H&M has faced several consecutive quarters of soft sales, as it has struggled to close a widening gap with rivals Inditex, Shein and Temu. Revenues at the world’s second-largest clothing retailer dipped year-on-year to 56.71 billion Swedish krona. The company did not provide specific detail on the impact of trade tariffs, but said it was closely watching the situation.Swedish clothing giant H&M on Thursday reported weaker-than-expected sales in the fiscal second quarter but pointed to an uptick in demand to kick-start the summer season.Revenues at the world’s second-largest clothing retailer dipped year-on-year to 56.71 billion Swedish krona ($5.99 billion) in the three-month period to May. 31, slightly below the 57.01 billion Swedish krona forecast by LSEG analysts. In local currencies, sales were up 1%.Operating profit totaled 5.9 billion Swedish krona over the quarter, in line with expectations.Shares were up 5.2% by 8:07 a.m. London time.CEO Daniel Erver said that the quarter’s results were “negatively affected” by higher purchasing prices from a more expensive U.S. dollar and higher freight costs.The company noted, however, that sales in June were expected to increase 3% in local currencies as demand shows signs of picking up over the summer months.“The negative external factors that increased the costs of purchasing for the first half of the year are turning positive for the second half of the year,” Erver said in a statement accompanying the results.H&M, which counts the U.S. as its second-largest single market and heavily depends on production in Asia — notably China and Bangladesh — did not provide specific detail on the impact of U.S. trade tariffs, but said it was watching the situation.It nevertheless noted cautiousness among consumers in current “uncertain times.”“The company is closely monitoring developments in global trade and trade restrictions. With good flexibility in the supply chain and through the pricing of the customer offering there are opportunities to adapt the business to changed conditions,” Erver added.It also flagged 200 store closures scheduled for 2025, primarily in established markets, and 80 new store openings, largely in growth markets.The fashion retailer previously reported a slow start to the year, but pointed to an annual uptick in sales in March.H&M has faced several consecutive quarters of soft sales, as it has struggled to close a widening gap with Inditex-owned rival Zara and fend off increased competition from lower-cost retailers, such as Shein and Temu.U.S. tariffs and weak consumer confidence have nevertheless become a drag for the retail sector more widely, with Inditex earlier this month posting weaker-than-expected quarterly sales and a slower start to the summer amid broad economic uncertainty.Retail and consumer goods emerged as the most distressed sector in Europe, according to a new report from law firm Weil, Gotshal & Manges LLP, which cited tight credit conditions, cost inflation and weaker consumer demand among pressures on the industry.This is a developing story and will be updated shortly.
The Trump Organization has removed a reference to the recently-announced T1 smartphone being made in America. The T1’s webpage now has a reference to “American-Proud Design.” The website says the device is “brought to life right here in the USA.” When the T1 was initially announced, experts told CNBC the device would likely be made in China.The Trump Organization scrapped a reference that its recently revealed smartphone will be made in the U.S., amid doubts that such a device can be manufactured on American shores at its price tag.A spokesperson for the Trump Organization, which is owned by U.S. President Donald Trump, nevertheless maintained the handset would be made in the U.S.This month, the Trump Organization introduced the T1, a gold-colored device set to retail for $499. At the time of the announcement, a banner on the homepage of the company’s website said: “Our MADE IN THE USA ‘T1 Phone’ is available for pre-order now.”The reference to where the phone will be produced has been completely removed. The change was first noted by The Verge.The T1’s webpage now says the phone has “American-Proud Design” and is “brought to life right here in the USA” — though it’s unclear if that means it will actually be manufactured in America.When the T1 was initially announced, experts told CNBC the device would likely be made in China by a local third-party company. The U.S. does not have an advanced supply chain to manufacture smartphones. Even if it did, many components would still need to come from overseas.However, in a statement to USA TODAY, Trump Mobile Spokesperson Chris Walker, said that “T1 phones are proudly being made in America.”“Speculation to the contrary is simply inaccurate,” Walker said.The language about manufacturing location is not the only thing that has changed on the T1 website. Some of the features and specs of the device have also been updated.In the initial announcement, the Trump Mobile website said the T1 would have a 6.8-inch AMOLED screen. That has now been reduced to 6.25-inch AMOLED display. A reference to the device having 12 gigabytes of random access memory (RAM), has also been dropped.It’s an unusual move for a smartphone company to change the specs of a device after it has been announced.CNBC has reached out to the Trump Organization about the changes in language regarding the device being manufactured in the U.S., as well as amendments to the phones specs.Trump has made reshoring manufacturing in tech a key priority. While his initial attention was on getting semiconductor manufacturing capacity built up, the White House leader has turned his sights on smartphones. He has also poured scrutiny on Apple‘s supply chain, urging the iPhone maker to manufacture its flagship handset in the U.S.
TORONTO, June 25, 2025 /CNW/ - First Nordic Metals Corp. ("First Nordic" or the "Company") (TSXV:FNM) (FNSE: FNMC SDB) (OTCQB:FNMCF) (FRA: HEG0) is pleased to announce the results of the Company's Annual General and Special Meeting of Shareholders (the "Meeting") held on June 25, 2025. A total of 49,884,492 common shares were represented in person or by proxy at the Meeting, representing approximately 18% of the votes attached to all outstanding common shares of the Company as at the record date. All the matters submitted to the shareholders, as set out in the Notice of Meeting dated May 22, 2025, were voted in favor. The number of directors elected at the Meeting was seven (7) and the directors will hold office until the next annual meeting of shareholders or until their successors are elected or appointed:DirectorVotes For% Votes ForVotes Withheld% Votes WithheldTaj Singh42,922,10590.23 %4,646,4699.77 %Adam Cegielski46,183,058Full story available on Benzinga.com
Judge Rejects Authors’ Claim That Meta AI Training Violated Copyrights VarietyIn a first-of-its-kind decision, an AI company wins a copyright infringement lawsuit brought by authors NPRThe Anthropic 'Fair Use' Copyright Ruling Exposes Blind Spots on AI Bloomberg.comMeta wins AI copyright lawsuit as US judge rules against authors The GuardianAnthropic destroyed millions of print books to build its AI models Ars Technica
The Trump Organization has removed a reference to the recently-announced T1 smartphone being made in America. The T1’s webpage now has a reference to “American-Proud Design.” The website says the device is “brought to life right here in the USA.” When the T1 was initially announced, experts told CNBC the device would likely be made in China.The Trump Organization scrapped a reference that its recently revealed smartphone will be made in the U.S., amid doubts that such a device can be manufactured on American shores at its price tag.A spokesperson for the Trump Organization, which is owned by U.S. President Donald Trump, nevertheless maintained the handset would be made in the U.S.This month, the Trump Organization introduced the T1, a gold-colored device set to retail for $499. At the time of the announcement, a banner on the homepage of the company’s website said: “Our MADE IN THE USA ‘T1 Phone’ is available for pre-order now.”The reference to where the phone will be produced has been completely removed. The change was first noted by The Verge.The T1’s webpage now says the phone has “American-Proud Design” and is “brought to life right here in the USA” — though it’s unclear if that means it will actually be manufactured in America.When the T1 was initially announced, experts told CNBC the device would likely be made in China by a local third-party company. The U.S. does not have an advanced supply chain to manufacture smartphones. Even if it did, many components would still need to come from overseas.However, in a statement to USA TODAY, Trump Mobile Spokesperson Chris Walker, said that “T1 phones are proudly being made in America.”“Speculation to the contrary is simply inaccurate,” Walker said.The language about manufacturing location is not the only thing that has changed on the T1 website. Some of the features and specs of the device have also been updated.In the initial announcement, the Trump Mobile website said the T1 would have a 6.8-inch AMOLED screen. That has now been reduced to 6.25-inch AMOLED display. A reference to the device having 12 gigabytes of random access memory (RAM), has also been dropped.It’s an unusual move for a smartphone company to change the specs of a device after it has been announced.CNBC has reached out to the Trump Organization about the changes in language regarding the device being manufactured in the U.S., as well as amendments to the phones specs.Trump has made reshoring manufacturing in tech a key priority. While his initial attention was on getting semiconductor manufacturing capacity built up, the White House leader has turned his sights on smartphones. He has also poured scrutiny on Apple‘s supply chain, urging the iPhone maker to manufacture its flagship handset in the U.S.
New York, NY, June 25, 2025 (GLOBE NEWSWIRE) -- The Network for Teaching Entrepreneurship (NFTE) today announced the expansion of its partnership with Curtis "50 Cent" Jackson's G-Unity Foundation. Initially launched at the 2024 NFTE Entrepreneurial Spirit Awards Gala, this collaboration is dedicated to equipping young people with the entrepreneurial skills and mindset they need to thrive in today's competitive world. The expanded partnership centers around a series of NFTE summer BizCamps operated in conjunction with the G-Unity Business Lab. These camps are designed to cultivate the next generation of entrepreneurs through hands-on learning experiences and community engagement. "This is about opening real doors for young people," said Curtis "50 Cent" Jackson, founder of the G-Unity Foundation. "When I was growing up, I had to navigate everything on my own. These camps provide the tools, mentorship, and confidence they need to take charge of their future — and that's life-changing." In partnership with the Inner City Entrepreneur Institute, the first of four BizCamps launched in Shreveport, Louisiana, earlier this month. This initiative is part of the G-Unity Foundation's broader commitment to community redevelopment in Shreveport, aimed at fostering new businesses and enhancing the local quality ...Full story available on Benzinga.com
Powell: Waiting to see what shows up in measured inflation Forexlive | Forex News, Technical Analysis & Trading ToolsWatch Fed Chair Jerome Powell testify live before Senate banking panel CNBCThe Fed Chair repeated that the US economy and labour market remain in a solid position FXStreetFed Leaders Signal Patience In Rate Changes As Tariffs Loom FinimizeEUR/USD Consolidates Ahead of Fed Chair Powell Testimony FOREX.com
CHARLESTON, S.C., June 25, 2025 (GLOBE NEWSWIRE) -- Lakeland Capital, a Charleston-based private, multifamily investment company active in select East Coast markets, is pleased to welcome Margaret Cover and Michael Smyth to its 2025 summer intern class.Margaret and Michael will support several ongoing initiatives across multiple functions, gaining hands-on experience along with invaluable insight into the overall multifamily investment and management business. Throughout the program, they will work alongside Lakeland Capital's leadership team and receive structured feedback during weekly touchpoints. The summer internship program culminates with Margaret and Michael delivering a set of actionable investment and operational recommendations."Our internship program provides a unique pathway for aspiring real estate professionals to cultivate critical skills through an immersive experience," said Alexander R. Westra, managing partner at Lakeland Capital. "We are delighted to welcome Margaret and Michael ...Full story available on Benzinga.com
Wine and spirits company fined $40K for paying Ontario retail stores to promote its products CTV News
Wine and spirits company fined $40K for paying Ontario retail stores to promote its products CP24
Crude oil inventories in the United States fell by 5.8 million barrels during the week ending June 20, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The drop brings commercial stockpiles to 415.1 million barrels, roughly 11% below the five-year average for this time of year. Crude prices were trading up ahead of the report. The American Petroleum Institute (API) on Tuesday had estimated a 4.277-million-barrel drop for the week ending June 20 after analysts had estimated a much smaller 600,000-barrel...
Cites new reports that looked at nine metals and five regions where opportunities exist for major projects
Take-Two Interactive (NASDAQ:TTWO) has outperformed the market over the past 20 years by 3.48% on an annualized basis producing an average annual return of 11.91%. Currently, Take-Two Interactive has a market capitalization of $44.42 billion. Buying $100 In TTWO: If ...Full story available on Benzinga.com
DELRAY BEACH, Fla., June 25, 2025 /PRNewswire/ -- 360Quadrants has released its latest PFAS Filtration Startups/SMEs Companies Assessment, 2025, recognizing key players, including both global giants and emerging innovators, for their excellence in market presence, product innovation, and business strategy. The report highlights Mineral Technologies, Inc., Aquasana Inc., Newterra Corporation, Eurowater, Aqua-Aerobic System, Inc. Hydroviv, Saltworks Technologies, Inc., Aclarity, Inc., Aquagga, Inc., and Onvector LLC, among the top companies, are actively shaping the future of the PFAS Filtration Startups/SMEs Companies Assessment.The evaluation leverages 360Quadrants' proprietary methodology to map competitive positioning across 7,000+ micro markets within 10+ industries, enabling decision-makers to make strategic, data-backed vendor choices.Company Highlights in the PFAS Filtration Startups/SMEs Companies Assessment:Mineral Technologies, Inc. is a global leader in water treatment technologies and solutions, operating through two main business segments: Consumer & Specialties and Engineered Solutions. Within the Engineered Solutions segment, the company provides advanced treatment solutions for per- and polyfluoroalkyl substances (PFAS). A key offering in this area is Fluoro-sorb adsorbent, a proprietary and NSF-certified product designed for the effective treatment of various PFAS compounds. This versatile solution binds a broad spectrum of PFAS contaminants and is suitable for diverse removal and remediation applications. It can also be used to manage contamination at its source through methods such as Permeable Reactive Barriers (PRB) and In Situ Stabilization and Solidification (ISS).Aclarity, inc. is a leading player in the water technology sector, offering a comprehensive PFAS destruction solution under the brand name "The Aclarity Octa." This groundbreaking system is the first full-scale PFAS destruction technology to be deployed globally. The Aclarity Octa utilizes a proprietary electrochemical process to effectively break down and eliminate PFAS contaminants. This advanced approach goes beyond traditional removal methods ...Full story available on Benzinga.com
Manitoba senior loses $2M in crypto scam Winnipeg Free PressManitobans being warned after senior loses $2M in crypto scam CTV NewsBrant County resident loses $18,500 in cryptocurrency scam: OPP Brantford ExpositorPolice sound alarm over rash of five-figure 'cryptocurrency fraud' cases lfpressVictim loses $18.5K in cryptocurrency scam: OPP The Spec
WTI Crude Prices Edge Higher After Across The Board Inventory Draws Oil prices edged higher this morning after posting the biggest two-day decline since 2022, as traders assessed the Iran-Israel ceasefire and the API report overnight that pointed to another drop in US crude stockpiles.“There is no longer any real fear of the conflict spreading,” said Arne Lohmann Rasmussen, chief analyst at A/S Global Risk Management. “With Trump’s comments on Iranian oil exports, downward pressure on oil prices is likely to continue.”APICrude -4.28mmCushing -75kGasoline +764kDistillates -1.03mmDOECrude -5.84mmCushing -464kGasoline -2.08mmDistillates -4.07mmThe official data confirmed API's reported big crude draw and products also saw major inventory drawdowns last week...Source: BloombergTotal US crude stockpiles dropped to their lowest since January...Source: BloombergDespite a small 237k addition to the SPR, Crude stocks fell for the 5th straight week...Source: BloombergUS crude production pushed modestly higher last week as the rig count continues to slide...Source: BloombergWTI Crude prices inched higher after the report following two days of carnage...Source: BloombergThe OPEC+ alliance is due to hold discussions on July 6 to consider a further supply boost in August. Tyler DurdenWed, 06/25/2025 - 10:43
Non-alcoholic beverage sales are trending upward in the two-week period ended June 14, as volume rose and pricing dipped, according to the latest NielsenIQ data analysis by Goldman Sachs Equity Research.
SOCIALIST WINS DEM PRIMARY IN NYC MAYORAL RACE ... Socialist On Brink Of Leading Center Of American Capitalism, Cuomo ConcedesSocialist Democratic New York Assemblyman Zohran Mamdani is ahead in the Democratic primary for New York City mayor, which was held on Tuesday.
Traders appear convinced that the ceasefire means few disruptions to the oil market, which would have raised prices and cut into profits.
Joerg Wuttke from DGA-Albright Stonebridge Group discusses Europe's plan to increase defense spending to 5% GDP. He says to spend 1.5% in that 5% on related spending such as infrastructure and software is a smart move given the expanded definition of dual-use.
Big Decisions Remain As Supreme Court's Term Approaches End Authored by Sam Dorman via The Epoch Times,The Supreme Court has already released major decisions for the 2024–2025 term, but some of its most consequential could still be in the making.So far, the justices have ruled on religious liberty, gender-related issues, environmental policy, and a case with a large impact on the vaping industry. Yet, more opinions are coming—ones that, among other things, could help determine parents’ rights, funding for abortion organizations, and whether and how much lower court judges can block presidents’ agendas.Here is a breakdown of what to expect as the term comes to an end:Birthright Citizenship and Nationwide InjunctionsFrom President Donald Trump’s first term to his second, presidents have encountered a spike in judges’ orders that block presidents’ agendas on a nationwide basis. These nationwide injunctions have provoked concerns about the nation’s separation of powers and whether the judiciary is being gamed by political activists.Three of these injunctions have targeted Trump’s attempt to limit birthright citizenship, which is a major portion of his immigration agenda. While the justices could weigh in on the constitutionality of Trump’s order, they will likely focus, at this point in litigation, on whether judges are exceeding their authority with such orders.U.S. Solicitor General D. John Sauer told the justices in May that nationwide injunctions exceeded the power granted to judges under Article III of the Constitution. That article allows the federal judiciary to hear “cases” and “controversies,” a provision that some say means that judges’ orders should affect only the parties before them in court.It’s unclear how the court will rule. The justices seemed divided during oral arguments on May 15. Regardless, the decision could alter the balance of power in the federal government for generations to come.Sex and Gender in School LibrariesThe court is expected to weigh in soon in Mahmoud v. Taylor. The case is about whether schools should be able to require children’s participation involving storybooks with controversial content about sexuality and gender.A group of Christian and Muslim parents sued Montgomery County Public Schools in Maryland, alleging that requiring their kids to hear storybooks without an opt-out on these topics burdened their parents’ exercise of religion under the First Amendment.Part of their argument cited a Supreme Court precedent known as Wisconsin v. Yoder (1972), which said parents have a constitutional right to direct the religious upbringing of their children. Among the cited content in the current case is “Born Ready,” a book with a transgender character named Penelope who identifies as a boy.The school district said that allowing children to opt out was not feasible and that its actions didn’t violate the First Amendment either because it wasn’t coercing children by exposing them to certain content.During oral arguments in April, the Supreme Court seemed inclined to rule in the parents’ favor but could see some dissent.Justice Ketanji Brown Jackson, for example, asked how the county was burdening parents when they didn’t have to send their kids to public school. “You can put them in another situation,” she said. “You can home-school them.”Age Verification for Porn WebsitesAmid an explosion of online pornography, states have attempted to intervene to prevent health-related harms to young people. One such law from Texas has offered the justices an opportunity to analyze how regulations on pornography may or may not conflict with the First Amendment.The Texas law requires pornographic websites to verify the age of their users. A porn industry group, known as the Free Speech Coalition, alleged that the requirement was too broad and therefore violated the First Amendment.The coalition initially won in district court, but the U.S. Court of Appeals for the Fifth Circuit allowed Texas’s age verification requirement to proceed. It said the requirement was rationally related to the state’s interest in protecting minors from pornography.The Free Speech Coalition told the Supreme Court that the Fifth Circuit should have applied strict scrutiny. Under that standard, governments have to show that their laws are not overly broad and serve a compelling state interest.Planned Parenthood and State Medicaid FundsPlanned Parenthood and abortion are back at the Supreme Court. But this time, the case focuses on how much money the abortion provider gets through Medicaid.In 2018, South Carolina’s government decided that abortion clinics enrolled in the program were unqualified to provide family planning services and shouldn’t receive funding.Planned Parenthood and a patient sued, arguing that the federal law establishing Medicaid allowed recipients to choose their providers. During oral argument on April 2, the Supreme Court weighed whether the law created an enforceable right for recipients to sue if they didn’t have access to the provider they chose.Obamacare Panel on Preventive MeasuresA separate, health-related case focuses on a panel set up under Obamacare, otherwise known as the Affordable Care Act, to recommend preventive care for insurance to cover. The legal issue the Supreme Court is reviewing is less about particular recommendations and more about the structure of the Preventive Services Task Force.A company known as Braidwood Management sued, alleging that the task force’s members had to be appointed by the president. They cited a provision of the Constitution known as the Appointments Clause.When the case, which was initiated during the first Trump administration, reached a federal appeals court, Braidwood won on that point. The Supreme Court reviewed the issue after the Biden administration asked it to intervene. The current Trump administration continued the legal defense of the task force. Tyler DurdenTue, 06/24/2025 - 22:35
Judge blocks Trump from withholding EV charger infrastructure funds The HillView Full Coverage on Google News
U.S. stocks ended the day on a high note, with the Nasdaq gaining over 1.4% on Tuesday to 19,912.53. The Dow also traded up 1.2% to 43,089.02, while the S&P 500 rose by 1.1% to 6,092.18. These are the top stocks that gained the attention of retail traders and investors throughout the day:BigBear.ai Holdings Inc (NYSE:BBAI)BigBear.ai stock soared 25.12% to close at $5.23, with an intraday high and low of $5.25 and $4.23, respectively. The 52-week high and low stand at $10.36 and $1.16. The AI solutions provider recently deployed its biometric passenger processing software at major U.S. and international airports, including JFK, LAX, and Chicago O'Hare.Advanced Micro Devices Inc (NASDAQ:AMD)AMD shares surged 6.83% to close at $138.43, with an intraday high and low of $138.79 ...Full story available on Benzinga.com
New Medicaid work requirements proposed in Republicans’ “One Big Beautiful Bill Act” may prompt millions of Americans to lose coverage. Individuals ages 19 to 64 would need to work at least 80 hours per week to be eligible for coverage, unless they qualify for certain exemptions. Here’s what experts say about the proposal.Kevin Carter | Getty Images News | Getty ImagesAmerican flags are displayed on the lawn of the National Mall with the U.S. Capitol Building in the background on June 2, 2025, in Washington, D.C. The “One Big Beautiful Bill Act” that is making its way through Congress may put millions of people at risk of losing access to Medicaid.One reform that may prompt that loss of coverage — the implementation of new work requirements — was included in both the Senate and House versions of the bill.In 2034, about 4.8 million additional people would be uninsured based on work requirements in the House Republican budget bill, according to the Congressional Budget Office, a nonpartisan legislative scorekeeper.More from Personal Finance:Health-care cuts in GOP budget bill prompt medical debt: ReportSenate tax bill includes $1,000 baby bonus in ‘Trump accounts’‘SALT’ deduction in limbo as Senate Republicans unveil tax plan“There’s no question that millions of people will be harmed,” said Allison Orris, senior fellow and director of Medicaid policy at the Center on Budget and Policy Priorities.Overall, 16 million individuals may be uninsured by 2034, according to CBO, based on the combined effects of the House Republicans’ budget bill on Medicaid and Affordable Care Act coverage; the expiration of enhanced premium tax credits tied to the ACA; and a separate rule proposed by the Trump administration targeting ACA marketplaces.‘Big beautiful’ bill includes Medicaid work requirementsThe House and Senate versions of the “big beautiful” bill would impose federal work requirements on Medicaid for the first time.Per the House and Senate proposals, individuals ages 19 to 64 who apply for Medicaid or who are enrolled through Affordable Care Act expansion group would need to would need to work or participate in qualifying activities for 80 hours per month.Adults may be exempt if they have dependent children or have qualifying circumstances such as medical conditions; however, “exemptions don’t always work, and people could lose coverage anyway,” Orris said.Medicaid work requirements proposed in the House bill would cut federal spending by $344 billion over 10 years, representing the legislation’s largest source of Medicaid savings, according to KFF, a nonprofit provider of health policy research.Current law prohibits basing Medicaid eligibility on work requirements or work reporting requirements, according to KFF. “Many people on Medicaid, if they’re able to, are already working,” said Robin Rudowitz, director of the program on Medicaid and the uninsured at KFF.However, some states may implement work requirements if they receive approval through waivers. Georgia is currently the only state with a Medicaid work requirement. “Several” other states have recently submitted waiver requests to put such requirements in place, according to KFF.Arkansas previously implemented Medicaid work requirements. However, estimates have shown while more people became uninsured because of that policy, there were not meaningful increases in employment, according to Rudowitz.Senate work requirements would include some parentsThe Senate version of the bill introduced a “harsher” take on the work requirements that would apply to some parents, Orris said. The Senate calls for limiting parental exemptions to those with children ages 14 and under, rather than all parents of dependent children as the House proposed.Individuals who apply for Medicaid coverage would need to meet work and other requirements for one or more consecutive months before they apply. Eligibility redeterminations would be conducted at least twice per year to ensure enrollees still meet those requirements.The Senate version proposes capping the look-back period for showing compliance with work requirements to three months, which on net may be helpful to people, Orris said.If an individual is denied coverage or disenrolled because they do not meet the Medicaid work requirements, they would be ineligible for subsidized marketplace coverage.The Senate bill also allows for a longer timeline for states to comply with the Medicaid work requirements. The chamber’s bill would give states the ability to ask for a good faith waiver that would give them an additional two years to come into compliance with the provision, or until the end of 2028, rather than the end of 2026 in the House version.
This is CNBC’s live blog covering Asia-Pacific markets.Asia-Pacific markets traded mixed Wednesday, as investors weighed a ceasefire between Israel and Iran, as well as fresh commentary from the U.S. Federal Reserve.There is growing optimism that a ceasefire between Israel and Iran brokered by U.S. President Donald Trump will likely hold.Australia’s S&P/ASX 200 was flat, closing at 8,559.2.South Korea’s Kospi climbed 0.15% to end at 3,108.25, while the small-cap Kosdaq fell 0.34% to end the trading day at 798.21.Japan’s benchmark Nikkei 225 rose 0.39% to 38,942.07, while the Topix closed flat at 2,782.24.Hong Kong’s Hang Seng index climbed 1.46% and mainland China’s CSI 300 rose 1.44% to 3,960.07.U.S. futures are near flat. Futures tied to the broad S&P 500 index ticked down 0.1%, as did Nasdaq 100 futures. Dow Jones Industrial Average futures lost 26 points, or 0.1%.Federal Reserve Chair Jerome Powell said Tuesday the Fed was committed to keeping inflation in check and would likely keep rates steady until there’s more clarity on how tariffs might affect prices.Powell said policymakers were “well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.”Overnight stateside, the three major averages closed higher. The Dow Jones Industrial Average climbed 507.24 points, or 1.19%, and closed at 43,089.02. The S&P 500 gained 1.11% to end at 6,092.18. The broad market index is now about 0.9% away from its 52-week high. The Nasdaq Composite advanced 1.43%, settling at 19,912.53. The Nasdaq 100 added 1.53% for a record close of 22,190.52.— CNBC’s Lisa Kailan Han and Brian Evans contributed to this report.Reserve Bank of Australia expected to cut cash rate in July, says CBAThe Reserve Bank of Australia is expected to cut its cash rate by 25 basis points to 3.6% in its July meeting, Commonwealth Bank of Australia wrote in a note after the release of Australia’s inflation data.The monthly consumer price inflation in May came in at 2.1%, below the 2.3% estimated by economists polled by Reuters.“A benign monthly CPI print in May and a steady labor market allow the RBA to move the cash rate back to neutral at a relatively swift pace,” CBA economists wrote, adding that they also expect a follow-up 25 basis points rate cut in August.“Today’s monthly CPI print capped off a flow of data that should provide comfort to the RBA that a swifter return of the cash rate to neutral is both manageable and needed,” the economists said.— Lee Ying ShanChina tech stocks rise as Beijing approves most new games this yearShares of gaming firms NetEase and Tencent rose Wednesday after China’s gaming regulator approved 158 publishing licenses in June, the largest number this year.The National Press and Public Administration said in a notice late Tuesday that it granted over a hundred new game licenses to the likes of Tencent, Baidu, NetEase and ByteDance, including a dozen imported games.NetEase’s shares listed in Hong Kong rose as much as 1.6%, extending gains of about 1% in its U.S.-listed shares. Moves in Tencent shares were relatively muted, rising as much as 0.6%. But its over-the-counter shares in the U.S. were up 1.97% overnight, according to LSEG data.Shares of the gaming developers had taken a beating when Beijing enacted an 18-month freeze on game license approval until early 2022.Since then, the number of licenses has been on a steady rise.The number of new game licenses rose to 1,416 in 2024, near the level seen in 2020, and is expected to match or exceed 2019’s level this year.— Anniek BaoAustralia’s inflation rate hits 6-month low as food inflation softensAustralia’s monthly inflation rate came in at 2.1% in May, hitting its lowest level since October 2024.This was lower than the 2.3% expected by economists polled by Reuters, and also down from the 2.4% in April.Data from the Australian Bureau of Statistics revealed that food and housing inflation also softened from the month before, while transport prices continued to decline.— Lim Hui JieOil prices climb over 1% after two sessions of declinesOil prices climbed over 1% in early Asia hours Wednesday after two sessions of declines stateside.U.S. West Texas Intermediate crude rose 1.34% to $65.23 per barrel, while global benchmark Brent was up 1.28% at $68 per barrel as of 9.18 a.m. Singapore time.This comes after oil prices tumbled for a second day Tuesday, as the market bet that a ceasefire between Israel and Iran would hold and the risk of a major crude supply disruption had faded.While there has been a brief recovery, the sharp decline in oil prices indicates the “continuing dominance of bears in the market,” said Alex Kuptsikevich, FxPro’s chief market analyst.—Lee Ying ShanChina doubles down on promoting yuan as confidence in U.S. dollar takes a beatingChina is devising more ways for foreign institutions to use the yuan, as international confidence in the U.S. dollar falters.The moves aim at challenging the greenback, experts said, even as the U.S. dollar remains by far the world’s predominant currency. The timing is favorable as the U.S. dollar index has tumbled more than 9% this year — while the offshore yuan has strengthened more than 2% against the dollar.“China appears to be accelerating its de-dollarization efforts, though progress remains uneven,” said Dan Wang, director of Eurasia Group’s China team.Overseas investors looking to diversify away from America and hedge against U.S. assets are also boosting the yuan, said Ning Sun, senior EM strategist at State Street Global.Read the full story here.—Lee Ying Shan, Evelyn ChengStocks close higher, oil tumbles for second straight dayStocks closed higher on Tuesday while oil slid, with investor appetite for risk growing on the heels of a ceasefire between Iran and Israel.The S&P 500 added 1.11% to finish the session at 6,092.18, while the Nasdaq Composite climbed 1.43% to 19,912.53. The Dow Jones Industrial Average advanced 507.24 points, or 1.19%, to close at 43,089.02.Oil tumbled 6%, extending a slide from Monday.— Brian EvansThe Federal Reserve will have enough weak economic data to cut interest rates by September, says Pantheon MacroeconomicsJoshua Roberts | ReutersThe Federal Reserve building is seen before the Federal Reserve board is expected to signal plans to raise interest rates in March as it focuses on fighting inflation, in Washington, D.C., on Jan. 26, 2022.A weakening in the labor market could give the Federal Reserve ample ammunition to cut interest rates in the fall, according to Pantheon Macroeconomics senior U.S. economist Oliver Allen.“The FOMC’s hesitation to commit to a particular course on monetary policy is understandable given the big uncertainties that remain around tariffs and their economic impact,” Allen wrote on Tuesday. “But we think the evidence of a marked deterioration in the labor market will be stark enough by September to convince the Fed to resume easing policy, despite lingering worries about inflation.”— Brian EvansThere could be more declines ahead for oil, says Piper Sandler Oil prices could slide further if the current range of $64 per barrel to $65 is breached, according to Piper Sandler. “The overnight news of a ceasefire between Israel and Iran resulted in Oil retreating further to $64-$65, and testing new support at last week’s breakout point,” chief market technician Craig Johnson wrote wrote in a Tuesday note. “If it fails to hold here, then a further decline below $60 is likely.” — Brian Evans
Sandvik Mining has demonstrated its commitment to industry-leading cybersecurity by earning an internationally recognized certification for its product development processes. Independent auditors [...]The post Sandvik earns cybersecurity certification for secure product development appeared first on Canadian Mining Journal.
On Tuesday, Sen. Elizabeth Warren (D-Mass.) slammed Meta Platforms, Inc.'s (NASDAQ:META) alleged tax windfalls under President Donald Trump's new legislative package, saying the benefits far outweigh what ordinary Americans could ever contribute.What Happened: Warren criticized a provision in Trump's "Big Beautiful Bill" that she says offers Meta a massive tax break."If every one of the 340 million people in America paid a new $35 copay to visit the doctor, that still wouldn't be enough to cover how much Meta would get from just one tax break in Donald Trump’s ‘Big Beautiful Bill,'" she posted on X, formerly Twitter.The U.S. population is estimated at 342 million, according to the Census — a number that, as Warren pointed out, wouldn’t be enough to offset the tax break given ...Full story available on Benzinga.com
CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--Jun 24, 2025--
LOS ANGELES, June 24, 2025 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Strategy Incorporated f/k/a MicroStrategy Incorporated ("Strategy" or "the Company") (NASDAQ: MSTR) for violations of §§10(b)...
New Pipeline Graph unifies competitive insights with preclinical research on a single AI platform to accelerate drug target identification and increase commercial success
Bezos' Venice wedding party moved to isolated area on security concerns ReutersGreenpeace joins anti-Bezos protest with Venice banner complaining about billionaire tax breaks AP NewsVenice’s most guarded secret: Inside the Bezos-Sanchez wedding plans CNNJeff Bezos famously neglected to sign a prenup in his first marriage. He’s not making the same mistake twice Yahoo FinanceA Look at Jeff Bezos’ Expansive Wealth—From Amazon Shares to Real Estate to Jets WSJ
MOSES LAKE — Average gas prices rose across the nation and in Washington, according to AAA. Washington, an outlier in the nation, is the only state in which prices are higher now than a year ago.
WASHINGTON (AP) — Federal Reserve governor Michelle Bowman on Monday said the central bank should consider cutting its key interest rate as soon as its next meeting in July, underscoring deep divisions among Fed officials as they endure sharp criticism from the White House.
The Go Direct 2-Axis Force Plate and Go Direct Turbidity Sensor help STEM and CTE students easily collect and analyze data during a wide range of hands-on investigations BEAVERTON, Ore., June 24, 2025 /PRNewswire/ -- Vernier Science Education recently launched two new wireless sensors—the...
Rising Demand for Natural Ingredients, Growing Health & Wellness Trends, and Expanding Applications in Cosmetics and Pharmaceuticals Drive 8% CAGR Growth Across Global MarketsREDDING, Calif., June 24, 2025 /PRNewswire/ -- The mangiferin market is experiencing robust expansion, with market valuation projected to grow from USD 225 million in 2025 to an anticipated USD 384.5 million by 2032, growing at a CAGR of 8% during the 2025-2032 forecast period. This significant growth reflects the increasing consumer preference for natural, plant-based ingredients across pharmaceuticals, cosmetics, and functional food industries, according to the latest research report "Mangiferin Market Size, Share, Forecast, & Trends Analysis by Source (Mango, Other Ingredients), Form (Powder, Liquid), Purity (98%, 95%, 90%), and Application (Pharmaceuticals, Food & Beverages) - Global Forecast to 2032", published by Meticulous Research®.This market growth is driven by the growing application of mangiferin in the cosmetics industry, increasing health and wellness trends, rising demand for natural ingredients, and growing incorporation of mangiferin in functional foods and dietary supplements.Access your FREE sample report: https://www.meticulousresearch.com/download-sample-report/cp_id=6136Natural Beauty Revolution Drives Cosmetics Industry AdoptionThe cosmetics industry has emerged as a key growth driver for the mangiferin market, as consumers increasingly seek natural, plant-based ingredients in skincare and personal care products. Mangiferin, a polyphenol derived primarily from mango leaves and bark, is widely recognized for its potent antioxidant, anti-inflammatory, and skin-rejuvenating properties, making it a valuable addition to various cosmetic formulations.Powerful Antioxidant Properties Combat Skin AgingOne of the main reasons for the increasing demand for mangiferin in cosmetics is its powerful ability to combat oxidative stress. Environmental factors such as UV radiation, pollution, and free radicals contribute to premature skin aging, leading to wrinkles, fine lines, and loss of elasticity. Mangiferin acts as a natural antioxidant, neutralizing free radicals and reducing oxidative damage, which helps protect the skin from aging and external aggressors. This makes it a popular ingredient in anti-aging creams, serums, and lotions aimed at preserving youthful and healthy skin.Anti-Inflammatory Benefits Address Skin ConditionsAnother key factor driving its use in cosmetics is its anti-inflammatory properties. Chronic inflammation is a significant contributor to skin conditions such as acne, redness, and sensitivity. Mangiferin has been found to inhibit inflammatory pathways, making it an effective ingredient in formulations designed for sensitive or acne-prone skin. It helps reduce irritation, calm redness, and promote a more even skin tone, making it suitable for products targeting individuals with rosacea, eczema, or other inflammatory skin concerns.Full story available on Benzinga.com
Charleston-based Palmetto Brewing said its will cease operations this week, a few days before the lease on its Huger Street space expires.
Americans’ optimism about the economy faded as Iran tensions escalated CNNConsumer confidence sours in June, despite rollback of Trump's tariffs ABC News - Breaking News, Latest News and VideosAmericans’ take on the economy sours in June and, after a brief respite, continues to slide AP NewsUS consumer confidence deteriorates in June ReutersUS Consumer Confidence Drops on Broad Concerns About Economy Bloomberg.com
On Monday, Apple Inc. (NASDAQ:AAPL) rolled out iOS 26 Beta 2 with key changes to its new Liquid Glass user interface, following widespread criticism from early testers over poor readability.What Happened: With the release of Beta 2, Apple has addressed concerns by adjusting the background blur in Control Center, making buttons and sliders more legible, reported TechCrunch.Notifications—also flagged for being hard to read—now appear sharper, though they still present challenges on lighter backgrounds.See Also: Pierre Ferragu Takes Apple To Task For Dismissing The AI Revolution: ‘Has Its Head In The Sand'Apple fixed the Control Center!iOS 26 Beta 1 vs iOS 26 Beta 2 pic.twitter.com/K2bYiOZaHt— Brandon Butch (@BrandonButch) June 23, 2025Full story available on Benzinga.com
Fred Smith, FedEx’s billionaire founder and CEO, dies at 80 The Washington PostEx-Washington NFL team part-owner Smith dies ESPNOpinion | Frederick W. Smith, 1944-2025 WSJRetired FedEx employee remembers Fred Smith WREG.comCalkins: Nobody can replace Fred Smith. (But he told us how to handle this, too.) Daily Memphian
Two Republican senators introduced principles for a bill meant to provide a legal framework for digital assets. Legislation would define when crypto will be overseen by the SEC, rather than the Commodity Futures Trading Commission. Movement on crypto bills remains uncertain as members of the House and Senate grapple with different versions.Two Republican senators are planning to debut a framework on Tuesday for a major bill that would set the rules of the road for digital assets.According to the framework, being introduced by Senate Banking Chairman Tim Scott of South Carolina and Sen. Cynthia Lummis of Wyoming, who heads the panel’s digital assets committee, the future bill will define when crypto is a commodity or a security, allow crypto exchanges to register with the Commodity Futures Trading Commission and reduce the SEC’s regulation of digital currencies.Also signing on are Sens. Thom Tillis, R-NC, and Bill Hagerty, R-Tenn.Those pushing the legislation say the proposed bill would also contain a “small, common-sense package of measures directed at preventing money laundering and sanctions evasion.”“These principles will serve as an important baseline for negotiations on this bill,” Scott told CNBC in a statement. “I’m hopeful my colleagues will put politics aside and provide long-overdue clarity for digital asset regulation.”Scott is looking to build off the bipartisan momentum around crypto on display last week, when a bill on stablecoins passed the Senate. Nearly all Republicans were joined by 18 Democrats in supporting the bill.Taking to the Senate floor after the vote, Lummis said the bill is “only the first step,” and she called on lawmakers to finish the more complex market structure bill this year.A House version of the market structure legislation was approved by two committees this month – the Financial Services Committee, which oversees the SEC, and Agriculture Committee, which oversees the CFTC.While President Donald Trump said on Truth Social that the House should move “LIGHTNING FAST” on the Senate’s stablecoin bill, House Financial Services Chairman French Hill, R-Ark., said at an event that he wants stablecoin and market structure bills to move together. He avoided answering questions about whether the House would take up the Senate’s differing stablecoin bill.The Senate Banking Committee’s subcommittee on digital assets will hold a hearing on the forthcoming bill at 3 p.m. ET.WATCH: Circle, Coinbase shares rise after Senate passes stablecoin legislation
Filed pursuant to Rule 433 Registration Statement No. 333-282373 June 23, 2025MEXICO CITY, June 23, 2025 (GLOBE NEWSWIRE) -- New Notes OfferingThe United Mexican States ("Mexico") announced today that it priced a global offering (the "New Notes Offering") of U.S.$3,949,715,000 aggregate principal amount of its 5.850% Global Notes due 2032 (the "2032 New Notes") and U.S.$2,850,768,000 aggregate principal amount of its 6.625% Global Notes due 2038 (the "2038 New Notes" and, together with the 2032 New Notes, the "New Notes").The aggregate principal amount of New Notes includes approximately U.S.$1,449,715,000 of 2032 New Notes and U.S.$850,768,000 of 2038 New Notes intended to fund the purchase of preferred tenders and non-preferred tenders, if accepted, in the concurrent tender offer described below, and the amount of New Notes issued may be adjusted based on final acceptances in the tender offer. The closing of the New Notes Offering is expected to occur on Wednesday, July 2, 2025.Barclays Capital Inc., BBVA Securities Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC and Morgan Stanley & Co. LLC served as Joint Lead Underwriters for the New Notes Offering.The New Notes Offering was made only by means of a preliminary prospectus supplement and an accompanying base prospectus. Copies of the preliminary prospectus supplement, the final prospectus supplement (when filed) and the related base prospectus for the New Notes Offering may be obtained from: Barclays Capital Inc., by calling +1 (212) 528-7581, BBVA Securities Inc., by calling +1 (212) 728-2446, Goldman Sachs & Co. LLC, by calling +1 (212) 357-1452, Mizuho Securities USA LLC, by calling +1 (212) 205-7741 or Morgan Stanley & Co., by calling +1 (212) 761-1057.Application will be made for the New Notes to be admitted to listing on the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market of the Luxembourg Stock Exchange.Tender OfferMexico's previously announced tender offer (the "Tender Offer") to purchase its outstanding notes of the series set forth in the tables below (collectively, the "Old Notes" and each, a "series" of Old Notes) on the terms and subject to the conditions contained in the Offer to Purchase, dated Monday, June 23, 2025 (the "Offer to Purchase"), expired as scheduled for Non-Preferred Tenders at 12:00 noon, New York City time, today and for Preferred Tenders, at 2:00 p.m., New York City time, today. All capitalized terms used but not defined under the heading "Tender Offer" in this communication have the respective meanings specified in the Offer to Purchase.The purchase prices to be paid for each series of the Old Notes validly tendered and accepted pursuant to the Tender Offer were calculated in accordance with the procedures set forth in the Offer to Purchase and Mexico's press release issued today, based on (i) the U.S. Treasury Rate for such series, which is a yield to maturity (or par call date) based on the bid-side price of the Reference U.S. Treasury Security identified for such series in the tables below and (ii) the fixed spread for such series set forth in the tables below.Table 1: Tranche A Old NotesOld NotesOutstanding Principal Amount as of Friday, June 20, 2025 ISIN CUSIPReference U.S. Treasury SecurityU.S. Treasury RateFixed Spread (basis points)Purchase Price(1)4.150% Global Notes due 2027U.S.$2,374,850,000.00US91087BAC4691087B AC43.875% due 5/31/20273.863%+47U.S.$996.883.750% Global Notes due 2028U.S.$1,878,402,000.00US91087BAE0291087B AE03.875% due 6/15/20283.810%+59U.S.$984.505.400% Global Notes due 2028U.S.$1,250,000,000.00US91087BAU4491087B AU43.875% due 6/15/20283.810%+61U.S.$1,023.284.500% Global Notes due 2029U.S.$3,085,643,000.00US91087BAF7691087B AF74.000% due 5/31/20303.910%+93U.S.$988.205.000% Global Notes due 2029U.S.$1,000,000,000.00US91087BAY6591087B AY64.000% due 5/31/20303.910%+91U.S.$1,006.13(1)Per $1,000 principal amount of Tranche A Old Notes validly tendered and accepted for purchase. Holders will also receive Accrued Interest on Old Notes validly tendered and accepted for purchase. Table 2: Tranche B Old NotesOld NotesFull story available on Benzinga.com
Cielo Provides Update on Settlement Agreement, Shareholder Meeting and Webinar, and Units for Debt Transactions
Stocks rally and oil tumbles as Wall Street hopes for a limited retaliation after US strikes on Iran
The Trump Doctrine (AKA The Businessman's Way Of War) Authored by 'Cynical Publius' via American Greatness,As the dust and smoke settle over Iran’s devastated nuclear weapons program, President Donald Trump’s method of waging war is coming into focus. We had hints of what I call the “Trump Doctrine” in his first term as he annihilated ISIS in Syria, but the two-decade war in Afghanistan that he had inherited initially obscured what has now become a coherent doctrine. In his second term, the freedom of navigation attacks against Yemen’s Houthis were once again a hint of Trump’s way of war, but Saturday’s attack on Iran—and the events leading up to it—tell us much about the deliberate and precise manner in which Trump seeks to conduct American wars. Similar to (but different from) the famous “Powell Doctrine” promulgated by former Secretary of State Colin Powell (more on that later), the Trump Doctrine is the doctrine of a businessman serving his stockholders. Explained another way, the Trump Doctrine is the “Businessman’s Way of War.”To preview succinctly, the Trump Doctrine consists of a series of business-like, iterative steps for all uses of American military force, and it performs as follows:Identify America’s national interest.Bargain with the prospective enemy.If/when negotiations fail, conceal & misdirect.Strike with precision and overwhelming force.Achieve submission.Bargain again (from a position of complete strength) with the defeated enemy.I’ll now examine each of these escalating steps in detail.“IDENTIFY AMERICA’S NATIONAL INTEREST.”This first point is key in understanding the Trump Doctrine and how it differs from the Powell Doctrine. Both the Trump Doctrine and the Powell Doctrine focus on war as only being necessary when a vital American national interest is at stake, but the definition of that “interest” differs rather dramatically between the two doctrines. Whereas the Powell Doctrine allows for amorphous goals such as exporting democracy, the Trump Doctrine takes a fundamentally different approach—a businessman’s approach.You see, Donald Trump, a man whose entire life until 2016 was focused on winning in business, does not view himself as President of a nation so much as he views himself as Chief Executive Officer and Chairman of the Board of a very large business, and that business is the United States of America. As CEO and Chairman, he knows he has a fiduciary duty to his stockholders. (You, me, and every other American are his stockholders.) The company Trump leads is not a non-profit—his company has no purpose other than to profit the stockholders. Regime change, spreading democracy, and trying to implement American concepts of liberty are the altruistic purposes of a tax-free, non-profit entity. But Trump sees America as a for-profit, and no actions will be taken for any reason other than to profit the American stockholders, and ending the nuclear capability of an Iranian regime of medieval theocrats greatly serves that purpose.“BARGAIN WITH THE PROSPECTIVE ENEMY.”Donald Trump will never expend American blood and treasure when a deal can be made first. Unlike so many of his predecessors, he does not care much about the moral fiber of America’s prospective enemies; he only cares about benefiting his American stockholders. Thus, when he offered the crazed theocrats ruling Iran a chance to bargain, he meant it. Trump does not care how much the mullahs punish their own citizens; he only cares about his fiduciary duties to his stockholders. Had the mullahs decided to bring their nation to the nuclear negotiating table in good faith, no B-2 bombers would have flown over Iraq this past weekend.“IF/WHEN NEGOTIATIONS FAIL, CONCEAL & MISDIRECT.”Trump gave the mullahs a chance to bargain. They declined. Think about this in the same way as when a large, profitable public company seeks to buy a weaker, distressed private company by way of merger. The first step is to offer a deal that benefits both parties. That’s what good businessmen do. But when the weaker company refuses to strike a deal that is in its best interest, the CEO of the stronger company starts to plan a hostile takeover while hiding his intent, and that’s just what Trump did with Iran.When Google wants to buy a hot, new artificial intelligence start-up, it does not tip its intent off to Apple, and in fact will publicly pretend it has no interest at all in buying the distressed target company.Trump employed a similar strategy as he engaged in what is now obviously a deception plan, where Trump and Netanyahu publicly pretended they were at odds. Even at the last minute—while Pentagon OPSEC was airtight—the public message was that Air Force B-2s were headed to Guam, but that was only a deception plan to obscure their actual flight plan from Missouri. Business is often like war, except without actual bloodshed. CEO Trump knows this, and made the same deception play in Iran as he would in forcing the sale of a distressed casino to one of his real estate ventures.“STRIKE WITH PRECISION AND OVERWHELMING FORCE.”Like the Powell Doctrine, the Trump Doctrine calls for the total commitment of America’s most lethal capabilities in an overwhelming manner. Like the large public company bringing all of its financial assets and influence to bear against a distressed merger target running from an undesired acquisition, Trump employed never-before-used Massive Ordnance Penetrators, delivered by our untrackable B-2 bombers, with an aerial corridor opened by Navy and Air Force stealth aircraft, while sub-launched Tomahawk cruise missiles took out targets that did not need the deep underground attack of the MOPs. Overwhelming military force is the way to defeat America’s enemies, just as overwhelming financial capabilities and business strategies ensure a powerful company controls the market against its competitors.“ACHIEVE SUBMISSION.”This is where the Trump Doctrine deviates most significantly from the Powell Doctrine. The lynchpin of the Powell Doctrine is achieving an “exit strategy.” An “exit strategy” is amorphous, and the enemy gets a vote. What was our exit strategy in Afghanistan? Tribal leaders who finally decided a democracy and personal liberty were the way to govern Afghanistan? Was the exit strategy in Iraq a sort of multi-ethnic republic with a constitution like our own? These goals were wishful thinking and led to 20+ years of useless, endless wars. President Trump sees “exit strategies” differently—he sees them as complete and total submission of the enemy.To borrow a term from popular culture, Trump demands our foes “bend the knee,” and he will settle for nothing less.Like the businessman he is, Trump expects his competitors to submit to his company’s will or cease to exist. As Trump said in his speech last Saturday night, “There will be either peace, or there will be tragedy for Iran, far greater than we have witnessed over the last eight days.This is not an “exit strategy.” This is a demand for complete and total submission. Importantly, Trump planned our attacks on Iran’s nuclear capabilities realizing that total submission was possible, and he would never have launched the attacks if total submission was not on the menu. That is a sea change from our recent history of complex geopolitical “exit strategies.” Trump’s exit strategy is simply complete and total submission, and nothing less. His stockholders deserve as much.“BARGAIN AGAIN (FROM A POSITION OF COMPLETE STRENGTH) WITH THE DEFEATED ENEMY.”This is another area that is separate and distinct from the Powell Doctrine, and from all American wars since the Spanish-American War in 1898. Like the businessman he is, Trump sees war as a means to force our enemies to the negotiating table to give us what we want. Democracy? LGBTQ+ rights? Capitalism? Trump does not care. He only cares about what tangibly benefits his stockholders. When Trump says, “But if peace does not come quickly, we will go after those other targets with precision, speed, and skill,” he implies that negotiations can create peace. The B-2 strikes also serve to bring the mullahs to the negotiating table. If they acquiesce, they survive. If they do not, they die.Additionally, Trump sees the deployment of U.S. forces as creating second- and third-order effects. Did China get the message? Will Russia stop giving arms to Iran if we agree to stop arming Ukraine? Every action Trump takes has deep meaning, and often outside the obvious scope of military objectives. This, too, is a businessman’s approach to war, and differs greatly from the standards of other recent presidents. If an action can influence your company’s competitors to act in your best interest, that is an action that must be taken.At some point, every American enemy will realize that you must give Donald Trump what he wants, or he will destroy you. Military force as a negotiating tool is a new concept in American warfare, and I like it.The Trump Doctrine provides for six steps to a new way of war. The Spanish-American War was the last war America ever fought for any reason other than to benefit the stockholders. Woodrow Wilson brought America into World War I to make the world “Safe for Democracy,” and for over a century, that has been America’s guiding wartime light. Yes, that was necessary and proper in World War II, but as a veteran of Afghanistan and Iraq, I know that most of the world today does not want democracy, and wasting American lives to achieve such an objective is futile. I vastly prefer a war that benefits America’s stockholders, and hopefully, all future presidents will know that the Trump Doctrine is the best method of serving America’s national interests.Thank you, President Trump, for realigning America’s military mission into something that best serves the American people.Cynical Publius is the nom de plume of a retired U.S. Army colonel and veteran of Iraq and Afghanistan, who is now a practicing mergers and acquisitions corporate law attorney. He believes the confluence of his experiences fighting wars and fighting business acquisitions has shown him Donald Trump’s way of war. You can follow Cynical Publius on X at @CynicalPublius.* * *Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge. Tyler DurdenMon, 06/23/2025 - 22:35
This is CNBC’S live blog about the conflict in the Middle East.U.S. President Donald Trump on Tuesday said that a ceasefire was now in effect, soon after Iranian state-linked media announced Tehran had fired its “last round” of missiles at Israel.“THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT!” Trump said in a post on Truth Social around 1:00 a.m. stateside.Iran had launched a fresh barrage of missiles at Israel as the ceasefire deadline announced by Trump neared.A spate of questions linger over the viability of a ceasefire, Iran and Israel’s participation, the potential resumption of nuclear talks between the West and Tehran, and the ultimate fate of Iran’s supplies of enriched uranium.The ceasefire announcement takes place after an apparent intensification of hostilities, with Iran on Monday carrying out retaliatory missile strikes at the U.S. Al Udeid Air Base in Qatar. Trump thanked Tehran for notice of the offensive.U.S. stock market indexes closed higher Monday on optimism that Iran’s retaliation for U.S. bombings of its nuclear facilities would be limited to the missile attack. Oil prices fell amid dwindling concerns that Iran could proceed with closing the Strait of Hormuz, a key oil transport route.CNBC reporters are covering the Middle East conflict on air and online, reporting from Washington, D.C., London, Dubai, San Francisco and Englewood Cliffs, N.J, and Singapore.Ceasefire has begun, Iran’s Press TV saysThe Iran-Israel ceasefire has come into effect, Iranian state media outlet Press TV said on social media, following a spate of Iranian strikes that have stoked confusion over Tehran’s willingness to participate in the agreement. “Ceasefire begins following four waves of Iranian attacks on Israeli-occupied territoreis,” the media channel said in an X update. As of five hours ago — in comments preceding U.S. President Donald Trump’s announcement that the detente had taken effect — Iranian Foreign Minister Seyed Abbas Araghchi had refuted the existence of a formal arrangement, while allowing for the easing of hostilities. “As of now, there is NO “agreement” on any ceasefire or cessation of military operation,” he said at the time. “However, provided that the Israeli regime stops its illegal aggression against the Iranian people no later than 4 am Tehran time, we have no intention to continue our response afterwards.”— Ruxandra IordacheIsrael confirms agreement to ceasefireIsrael has accepted a ceasefire with long-time rival Iran in U.S.-brokered diplomacy, the office of Israeli Prime Minister Benjamin Netanyahu confirmed on Tuesday. “In light of achieving the objectives of the operation, and in full coordination with President Trump, Israel has agreed to the president’s proposal for a bilateral ceasefire,” Netanyahu’s office said, in a statement procured by NBC News. “Israel will respond forcefully to any violation of the ceasefire. Israeli citizens must continue to strictly adhere to the Home Front Command’s instructions until full compliance with the ceasefire is confirmed.” Questions had lingered whether the Jewish state and Tehran would implement the truce, announced earlier by close U.S. ally Washington. — Ruxandra IordacheTrump says ceasefire ‘is in effect,’ urging not to violate itU.S. President Donald Trump said in a social media post Tuesday that the ceasefire was “in effect,” urging that it should not be violated.“THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT! DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES!,” he posted on Truth Social at 1:08 a.m. Eastern Time.Trump had earlier said that the the ceasefire would begin at 12:00 a.m. Eastern Time for Iran, while the ceasefire for Israel would apply 12 hours later.Tehran fired multiple waves of missiles at Israel in the final hours before the ceasefire deadline for Iran announced by Trump took effect.— Victor LohFinal salvo of missiles fired at Israel before ceasefire starts: Iranian state mediaAnadolu | Anadolu | Getty ImagesTraces of missiles are seen as Iran launches missile strike on Israel seen from Hebron, West Bank on June 24, 2025.A final round of missiles were fired at Israel before the 12 a.m. ET ceasefire with Israel came into effect, Iranian state-aligned media announced Tuesday. CNBC was unable to independently verify the claim.“From 7:30 AM Tehran time; Based on the agreement reached, a ceasefire between Iran and the Zionist regime came into effect,” Iran’s SNN TV reported, according to a translation by NBC News.“The last round of Iranian missile attacks was fired into the heart of the occupied territories minutes before the ceasefire began.”— Victor LohThree killed after Iranian missile attacks on IsraelJack Guez | Afp | Getty ImagesRocket trails are seen in the sky above the Israeli coastal city of Netanya amid a fresh barrage of Iranian missile attacks on June 24, 2025.Iranian state-aligned media announced a ceasefire with Israel was “imposed” early Tuesday local time, but there was still no confirmation from the Israelis if they had accepted a truce.The announcement on Iran’s SNN TV came as the Israeli military reported waves of missile attacks by Iran, which led to three fatalities.“The proud nation of Iran has imposed a ceasefire on the Zionist enemy through a successful missile operation by the IRGC [Islamic Revolutionary Guard Corps] carried out in response to U.S. aggression,” Iranian state media reported, according to a translation by NBC.“This came alongside the remarkable unity and resistance of our people in defense of our homeland.”— Victor LohNo agreement on ceasefire: Iran’s foreign ministerAnadolu | Anadolu | Getty ImagesIranian Foreign Minister Abbas Araghchi delivers a speech during a press conference as he attends the 51st Meeting of the Council of Foreign Ministers of the Organization of Islamic Cooperation (OIC) at Lutfi Kirdar International Convention and Exhibition Center in Istanbul, Turkey, on June 22, 2025.Iran’s Foreign Minister Seyed Abbas Araghchi said Tuesday morning local time that “there is NO ‘agreement’ on any ceasefire or cessation of military operations.”“However, provided that the Israeli regime stops its illegal aggression against the Iranian people no later than 4 am Tehran time [8.30 p.m. EST], we have no intention to continue our response afterwards,” he said in a post on X.The final decision on the cessation of Iran’s military operations will be made later, he added.Araghchi’s statement comes after U.S. President Donald Trump announced a ceasefire timeline, which he says will end the war between Israel and Iran.— Nur Hikmah Md AliTrump says he expects ceasefire to last ‘forever’: NBC NewsU.S. President Donald Trump said that he thinks the ceasefire would last forever, he told NBC News in an exclusive phone interview Monday night.“I think the ceasefire is unlimited. It’s going to go forever,” he said.He described the Israel-Iran ceasefire as “a wonderful day for the world, in my opinion.”“It’s a great day for America. It’s a great day for the Middle East. I’m very happy to have been able to get the job done,” he said.“A lot of people were dying, and it was only going to get worse. It would have brought the whole Middle East down.”Trump added that the war is completely over and he does not believe Israel and Iran “will ever be shooting at each other again.”— Victor LohIsrael-Iran ceasefire brokered by Trump, Vance and Qatari leadershipWin Mcnamee | Getty Images News | Getty ImagesU.S. President Donald J. Trump speaks with Emir of Qatar Tamim bin Hamad al Thani as he departs the Al Udeid Air Base for Abu Dhabi on May 15, 2025, in Doha, Qatar.The Israel-Iran ceasefire was brokered by President Trump and Qatar’s Emir, Sheikh Tamim bin Hamad Al Thani, a diplomat briefed on the talks told NBC’s Keir Simmons.Trump told Qatar’s Emir that the U.S. had persuaded Israel to agree to a ceasefire with Iran and asked Qatar to help persuade Tehran to do the same, the diplomat said.The diplomat added that U.S. Vice President JD Vance coordinated with Qatar Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani on the details, and the Iranians agreed.Neither Iran nor Israel has confirmed to NBC News that they have agreed to the ceasefire.— Victor LohIDF issues evacuation warning for parts of TehranElyas | Middle East Images | Afp | Getty ImagesSmoke rises over Tehran, Iran, following Israeli airstrikes targeting Revolutionary Guards sites and the Evin prison on June 23, 2025. The Israel Defense Forces issued an evacuation warning to Iranians in two swaths of Tehran ahead of planned attacks against military infrastructure targets there in the coming hours.“Your presence in these areas puts your life at risk,” the IDF said in an X post from its Farsi-language account, according to a Google translation.The warning came less than an hour after Trump announced a ceasefire plan that he says will end the war between Israel and Iran.The timeline laid out by Trump would have Iran commit to a ceasefire around midnight Tuesday ET, while Israel would begin its own ceasefire 12 hours later.It was not immediately clear if either Israel or Iran had signed off on that agreement. — Kevin BreuningerTrump announces an Israel-Iran ceasefire timeline that he says will end the warTrump announced on his social media platform that Israel and Iran have agreed to a “Complete and Total CEASEFIRE” that will begin around midnight Tuesday.Representatives for Israel and Iran did not immediately appear to confirm the agreement.Read Trump’s full Truth Social post:CONGRATULATIONS TO EVERYONE! It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now, when Israel and Iran have wound down and completed their in progress, final missions!), for 12 hours, at which point the War will be considered, ENDED! Officially, Iran will start the CEASEFIRE and, upon the 12th Hour, Israel will start the CEASEFIRE and, upon the 24th Hour, an Official END to THE 12 DAY WAR will be saluted by the World. During each CEASEFIRE, the other side will remain PEACEFUL and RESPECTFUL. On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, “THE 12 DAY WAR.” This is a War that could have gone on for years, and destroyed the entire Middle East, but it didn’t, and never will! God bless Israel, God bless Iran, God bless the Middle East, God bless the United States of America, and GOD BLESS THE WORLD!— Kevin BreuningerQatar reopens airspaceXavi Lopez | SOPA Images | Lightrocket | Getty ImagesA daytime view of a Qatar Airways commercial plane the state-owned flag carrier of Qatar, parked on the runway at Hamad International Airport. Qatar has reopened its airspace after temporarily closing it following the attack.The country’s airspace has now returned to normal operations, the Civil Aviation Authority wrote on X.A host of international airlines paused or extended suspensions of flights to Doha, Dubai and other major hubs after Iran said it launched an attack on a U.S. military base in Qatar.— Erin Doherty and Leslie JosephsCompanies need to be on high alert from Iran cyber attacks: TrustedSec CEO David KennedyTrustedSec CEO David Kennedy said on CNBC’s “The Exchange” that private companies need to be on alert for any cybersecurity threats they could face from Iran.“Iran has been building up their cyber capabilities for a number of years, and they are on par with other nation states,” Kennedy said. “They very much leverage their cyber capabilities very similarly to what we do here in the United States, with Cyber Command, a direct extension of military force. And so DHS recently released an advisory along with CISA, the Cybersecurity and Infrastructure Security Agency, around private sector corporations and government entities to be on high alert right now for these cyber attacks.”Kennedy said that Iran could inflict “some pretty substantial damage to the United States, specifically in manufacturing, supply chain, retail, critical infrastructure, things that can disrupt our normal day life that cause pain here in the U.S., and really not be seen as crossing that red line of loss of life or direct military force.”— Riya BhattacharjeeKhamenei: Iran ‘isn’t a nation that surrenders’Iran’s leader, Ayatollah Ali Khamenei, issued a defiant-sounding statement shortly after Trump celebrated the bloodless outcome of Tehran’s retaliatory strike on a U.S. military base in Qatar.“Those who know the Iranian people and their history know that the Iranian nation isn’t a nation that surrenders,” Khamenei wrote on X.The post conveyed a marked contrast in tone from Trump’s latest social media message, an all-caps declaration suggesting that the latest developments in the Middle East have established world peace. — Kevin BreuningerU.S. Embassy in Sweden warns Iran may be ‘pressuring’ local gangs ‘to carry out attacks’Courtesy: U.S. Embassy in SwedenU.S. Embassy in Stockholm Sweden.The U.S. Embassy in Sweden is warning Americans to “exercise increased caution,” because Iran “may be pressuring local criminal gangs, including the Foxtrot Network, to carry out attacks in Sweden against U.S. and Israeli interests.”The embassy encourages Americans living in Sweden to “maintain awareness of their surroundings, particularly near the U.S. Embassy,” per an advisory.The Foxtrot Network is a gang in Sweden and “prominent drug trafficking organization,” according to the State Department, which sanctioned the group in March.The State Department said at the time that Iran had “leveraged the Foxtrot Network to carry out attacks on Israeli and Jewish targets in Europe, including the Israeli Embassy in Stockholm, Sweden, in January 2024.”— Erin DohertyMarkets rally, oil falls after attackBrendan McDermid | ReutersTraders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 23, 2025. Stocks rose and oil prices fell after Iran’s attack appeared more limited than initially expected, easing investors’ concerns.The Dow Jones Industrial Average added 374.96 points, or 0.89%, closing at 42,581.78.The S&P 500 gained 0.96% and closed at 6,025.17. The Nasdaq Composite climbed 0.94% to 19,630.97.U.S. crude oil futures fell more than 7% to end at $68.51 per barrel.“Markets only care about oil supply shocks, so as long as they stay at bay, we’ll see markets sharply higher,” said Jamie Cox, managing director at Harris Financial Group.— Brian Evans, Lisa Kailai Han, Erin DohertyTrump says it’s ‘time for peace!’ following attackTrump congratulated the world and said “it’s time for peace!,” in an all-caps Truth Social post following Iran’s missile strike. In a separate Truth Social post minutes prior, Trump thanked the “highly respected emir of Qatar for all that he has done in seeking peace for the region.”Trump also celebrated that the Iranian strikes resulted in no American or Qatari casualties.— Erin DohertyIran leader Khamenei: ‘We will not submit to anyone’s harassment’Anadolu | Getty ImagesIranian Supreme Leader Ali Khamenei addresses the nation on Iranian state television broadcast in Tehran, Iran on June 18, 2025. In a televised address, Khamenei commented on the recent tensions and threats. Iranian leader Ayatollah Ali Khamenei says that his country “will not submit to anyone’s harassment” after Iran launched retaliatory missiles at U.S. bases in the Middle East.“We didn’t harm anyone,” Khamenei said on X, according to a Google translation.“And we will not accept any harassment from anyone under any circumstances. And we will not submit to anyone’s harassment,” he wrote.“This is the logic of the Iranian nation.”— Kevin BreuningerHere’s how many U.S. troops are stationed at key bases in the Middle East Omar Zaghloul | Anadolu | Getty ImagesAn infographic titled “US military presence in the Middle East” created in Ankara, Turkiye on June 23, 2025. The US has approximately 45,000 military personnel, numerous bases, and powerful air and naval fleets that it can deploy across the Middle East.There are approximately 45,000 American service members stationed in the Middle East, according to a recent Reuters analysis.This number is in constant flux, however, and it reflects estimates of personnel at several bases where troop numbers are not publicly acknowledged, due to national security concerns.The United States’ Al Udeid Airbase in Qatar is the biggest American base in the region, with around 10,000 servicemembers stationed there.Iraq hosts the Al Asad air base, where another 2,500 Americans are posted.In Bahrain, home to the U.S. Navy’s 5th Fleet, around 9,000 seamen are stationed at any given time.South of Abu Dhabi in the United Arab Emirates is the Al Dhafra Airbase, which is shared between the United States and the UAE Air Force.Saudi Arabia hosts both American soldiers and large-scale U.S. missile batteries at Prince Sultan Air Base, south of the capital Riyadh. U.S. soldiers in Saudi Arabia numbered 2,321 in 2024, according to a letter released by the White House.The Muwaffaq al Salti Air Base in Jordan hosts the U.S. Air Force Central’s 332nd Air Expeditionary Wing, according to a 2024 congressional report cited by Reuters. — Christina WilkieTrump thanks Iran for giving U.S. ‘early notice’ of Qatar missile attack — but calls it ‘weak’Trump said Iran gave the U.S. “early notice” of its missile attack on an American military base in Qatar, “which made it possible for no lives to be lost, and nobody to be injured.”Trump thanked Iran for that heads up, but nevertheless called the retaliatory strike a “very weak response” that was “very effectively countered” by the U.S.“Most importantly, they’ve gotten it all out of their “system,” and there will, hopefully, be no further HATE,” Trump wrote on Truth Social.Iran has officially responded to our Obliteration of their Nuclear Facilities with a very weak response, which we expected, and have very effectively countered. There have been 14 missiles fired — 13 were knocked down, and 1 was “set free,” because it was headed in a nonthreatening direction. I am pleased to report that NO Americans were harmed, and hardly any damage was done. Most importantly, they’ve gotten it all out of their “system,” and there will, hopefully, be no further HATE. I want to thank Iran for giving us early notice, which made it possible for no lives to be lost, and nobody to be injured. Perhaps Iran can now proceed to Peace and Harmony in the Region, and I will enthusiastically encourage Israel to do the same. Thank you for your attention to this matter!DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES OF AMERICA— Kevin BreuningerDubai resumes ‘full operations’ at airportsDubai airports have resumed “full operations” following a brief pause following the attack, per a statement.“While Dubai Airports works with airlines to ensure flights operate according to approved schedules, some flights may experience delays or cancellations,” the statement from the Dubai Media Office said.— Erin DohertyJohnson: ‘This is the retaliation that was expected’Nathan Howard | ReutersU.S. House Speaker Mike Johnson (R-LA) speaks to a reporter, as he leaves for a meeting at the White House on the budget, on the day of the House Rules Committee’s hearing on U.S. President Donald Trump’s plan for extensive tax cuts, on Capitol Hill, in Washington, D.C., U.S., May 21, 2025. Republican House Speaker Mike Johnson said that “this is the retaliation that was expected,” after Iran said it launched missile strikes on U.S. military bases in Qatar and Iraq.“So far, so good, no casualties, so far as we know,” he told reporters.He also said that it is not an “appropriate time” for a war powers resolution, and he doesn’t think it’s “necessary.”“Listen, for 80 years, presidents of both parties have acted with the same commander in chief authority under Article II,” Johnson said, referring to the article that designates the president as “commander in chief” of the military.Johnson said that he received a classified briefing Monday morning on the conflict with Iran.“I know that the national security team is in the Situation Room, even as we speak, and they’re monitoring this,” he said.— Erin DohertyPhoto shows remnant of an Iranian missile intercepted by QatarAFPTV | AFP | Getty ImagesThis frame grab taken from AFPTV footage shows the remnants of an Iranian missile intercepted over Qatar, as it lies on a pavement near a fence on June 23, 2025.A frame grab taken from AFP’s live TV coverage shows the remnants of an Iranian missile intercepted by Qatar lying on pavement following the Monday retaliation.Qatar said there were no casualties from the attack on the U.S. base.– Laya NeelakandanU.S. oil prices fall sharply as investors hope for de-escalationBrandon Bell | Getty Images News | Getty ImagesIn an aerial view, oil storage containers are seen in the LyondellBasell Houston refinery on June 18, 2025 in Houston, Texas. U.S. crude oil futures sold off steeply, on hopes the Middle East conflict will de-escalate after Iran’s retaliatory strike on a U.S. base left no reported casualties.U.S. West Texas Intermediate fell $5.33, or 7.22%, to close at $68.51 per barrel, while global benchmark Brent shed $5.53, or 7.18%, to settle at $71.48 per barrel.The oil market appears to have avoided its worst-case scenario, for now, in which Iran attempts to close the Strait of Hormuz. Some 20 million barrels per day of crude, or 20% of global consumption, flowed through the strait in 2024, according to the Energy Information Administration.U.S. crude has given up most of its gains since Israel started bombing Iran on June 13. Brent is up more than 2% since the conflict began.— Spencer KimballUnited Arab Emirates condemns attack in ‘strongest terms’The United Arab Emirates “has condemned in the strongest terms,” the attack on the Al Udeid Air Base, per a statement from the Ministry of Foreign Affairs. “The UAE underscored its categorical rejection of any attack that threatens the security and safety of the State of Qatar, stressing that such actions undermine regional security and stability,” the statement said. The UAE also fully supports any measures by Qatar “aimed at safeguarding the security and safety of its citizens and residents.”“The UAE reaffirmed the urgent need to halt military escalation, and warned against continued acts of provocation that threaten to destabilize regional security and risk dragging the region into dangerous paths with catastrophic repercussions for international peace and security,” the statement said. — Erin Doherty Saudi Arabia ‘affirms its full solidarity with and unwavering support’ for QatarSaudi Arabia condemned and denounced the attack “in the strongest terms possible,” according to a statement from the Ministry of Foreign Affairs.The attacks constitute “a flagrant violation of international law and the principles of good neighborliness, and an entirely unacceptable act that cannot be justified under any circumstances,” per the statement.“The Kingdom affirms its full solidarity with and unwavering support for the State of Qatar and places all its capabilities at Qatar’s disposal in support of any measures it may take,” the statement continues.— Erin Doherty‘It is scary’: Qatar witness describes missile attackAbdullah Almulla, who was in Doha during the attack, described hearing “bangs in the sky,” while he was on his way home from work, during an interview on CNBC’s ‘The Exchange.’He said that he did not have any indication that any of the strikes impacted any residential or urban areas in Doha.“It is scary, it’s not something I ever heard in my life or ever experienced, so ... it’s a bit worrisome, I’m worried for my friends and family and I just want them to be safe,” said Almulla, who is from Qatar and works with Qatar News Agency. He said that his friends and family appear to be safe from the attack.— Erin DohertyIran gave Qatar a heads up, The New York Times reportsIran gave Qatar advanced notice that it was launching an attack on the U.S. base near Doha, three Iranian officials familiar with the plans told The New York Times.Iran’s retaliatory strike was meant to be symbolic, while leaving an exit ramp open for all sides, the Times reported.In its statement confirming the attack on the Al Udeid Air Base, Iran’s national security council said its action “posed no threat whatsoever to our friendly and brotherly nation, Qatar, or its honorable people.”Qatar has condemned the strike.— Kevin BreuningerTrump says U.S. ‘totally destroyed’ sites in weekend attackSource: The White HousePresident Donald Trump in the situation room on June 21st, 2025. Amid escalating nuclear tensions between the U.S. and Iran, President Donald Trump posted on Truth Social praising the U.S.’s Saturday attacks on nuclear sites in the Middle Eastern country.“The sites that we hit in Iran were totally destroyed, and everyone knows it,” he wrote.Trump blamed “the Fake News” for allegedly trying to “demean” the impact of the sites that were hit, calling out “NBC Fake News” by name.“It never ends with the sleazebags in the Media, and that’s why their Ratings are at an ALL TIME LOW — ZERO CREDIBILITY!” he added.– Laya NeelakandanWatch: Iran targeted Al-Udeid base with attackIran claims that the number of missiles used in the operation was the same as the number of bombs the United States used in its strike on Iran over the weekend, CNBC’s Megan Cassella reports, based on a statement from Iran’s Supreme National Security Council.The base was located away from urban infrastructure and residential areas in Qatar, the statement said. — Megan Cassella Kuwait, Egypt suspend air travel in Persian GulfSource: FlightRadar24Kuwait airspace at 18:18 UTC on June 23rd, 2025.Kuwait Airways is suspending all departing flights from the country due to regional tensions until further notice, the airline posted on X.The suspension will remain in effect “until further notice.”EgyptAir announced in a social media post that all Egypt flights to and from cities in the Persian Gulf have also been canceled “until the situation stabilizes in the region.”The flight suspensions follow Qatar closing its airspace to commercial flights just before Iran launched missiles attacking the U.S. base in Qatar. Bahrain also temporarily suspended air traffic, according to NBC News.– Laya NeelakandanU.S. intel found Iran did not move nuclear material from Fordo before U.S. strike: Sen. MullinIran did not move nuclear material out of its Fordo facility before the U.S. strike on Saturday, Sen. Markwayne Mullin told CNBC’s “Squawk Box” Monday morning, citing U.S. intelligence.A New York Times report published Sunday cited two unnamed Israeli officials who said Iran appeared to have moved nuclear material and equipment from Fordo before the U.S. bombed three Iranian nuclear sites.“Our intelligence report says they didn’t,” the Republican senator said.“In fact, we actually believe they stored more of it in Fordo because they believe Fordo was impenetrable,” Mullin said. “They thought it was a safe place to be.”Read Dan Mangan’s full report on Mullins’ interview here.– Josephine RozzelleAirlines divert, cancel more Middle East flights as conflict intensifiesCourtesy: Flightradar24Flight patterns over United Arad Emirates.Airlines diverted more flights in the Middle East as Qatar’s airspace closed and areas above other Persian Gulf nations were reportedly also off limits after Iran said it attacked a U.S. military base in Qatar.At least six commercial aircraft turned around near the United Arab Emirates’ airspace, according to flight-tracking platform Flightradar24, which also reported that the UAE airspace was closed.Several major international airlines have also scaled back service to major hubs like Doha, Qatar, and Dubai in the United Arab Emirates, or have offered travelers vouchers to travel at a later date because of the conflict.Read the full story here.— Leslie JosephsWatch: No deaths or injuries reported in missile attackNo deaths or injuries have been reported in the missile attack on Al-Udeid military base, CNBC’s Megan Cassella reports, citing a statement from Qatar’s ministry of defense.— Megan CassellaQatar ‘strongly condemns’ attack and says air defenses ‘intercepted the Iranian missiles’Qatar “strongly condemns” the attack at the Al-Udeid air base and considers it “a flagrant violation of the sovereignty of the State of Qatar, its airspace, international law and the United Nations Charter,” Majed Al Ansari, the official spokesperson for Qatar’s Ministry of Foreign Affairs, wrote on X.“We reassure that Qatar’s air defenses successfully thwarted the attack and intercepted the Iranian missiles,” he wrote. He said that the base had been evacuated prior to the attack, “given the tensions in the region.” “We confirm that no injuries or human casualties resulted from the attack,” he continued. “We affirm that Qatar reserves the right to respond directly in a manner equivalent with the nature and scale of this brazen aggression, in line with international law,” he said. — Erin DohertyStocks are positive as traders view Iran missile attacks as a limited response Brendan McDermid | ReutersTraders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 23, 2025.Stock indexes are positive so far this afternoon despite the Iranian attacks on U.S. bases, as investors view the missile fire as a relatively limited response to the U.S. bombing of Iran’s nuclear facilities. The alternative, and a much more costly scenario for traders, would have been if Iran had targeted oil tankers in the Strait of Hormuz, for example, or Gulf state oil production sites. Oil prices also fell this afternoon after briefly jumping, moved lower by the same working assumptions about Iran’s retaliation. — Christina Wilkie Trump meeting with his national security team in Situation Room Source: The White HousePresident Donald Trump in the situation room on June 21st, 2025. Trump is meeting with his national security team this afternoon.A White House official told NBC News the national security team was already meeting in the Situation Room when Iranian missiles were fired at U.S. military bases in Iraq and Qatar.Trump is joined by Secretary of Defense Pete Hegseth, the Chairman of the Joint Chiefs of Staff Gen. Dan Caine and other top officials.— Christina WilkieQatar says it intercepted Iranian missiles targeting U.S. military base — Christina Wilkie
President Donald Trump proposed a tax break on car loan interest while on the campaign trail last year. House and Senate Republicans have pitched a $10,000 tax deduction on auto loan interest as part of the so-called “one big beautiful bill” being debated in Washington. Households would likely need to buy luxury cars that cost $130,000 or more to get the maximum benefit, one economist said. Models with such price tags include “exotic” brands like Rolls-Royce, Ferrari, Bentley, Aston Martin, Lamborghini, McLaren, Porsche, Land Rover, Cadillac, Maserati, Lotus or Mercedes-Benz, the economist said.Republicans are trying to make good on President Donald Trump’s campaign promise to give Americans a tax break on their car loan interest. However, as structured, most households wouldn’t get a substantial financial benefit, economists said.House and Senate Republicans proposed giving drivers a tax deduction of up to $10,000 on annual interest for new auto loans in their so-called “One Big Beautiful Bill Act.” The tax break would be temporary, ending after 2028.But few drivers pay that much annual interest, said Jonathan Smoke, chief economist at Cox Automotive, an auto market research firm.It’s “pretty rare,” he said.Auto loans don’t have annual interest charges of $10,000 or more outside of large loans on “exotic” vehicles, Smoke said.A ‘laundry list of exotic names’How large would the loan have to be?It would take a loan of roughly $112,000 to use up the full $10,000 deduction in the first year of car ownership, Smoke said.Only about 1% of new auto loans are this big, according to Cox Automotive data.Cars most likely to see loans of that magnitude include a “laundry list of exotic names” like Rolls-Royce, Ferrari, Bentley, Aston Martin, Lamborghini, McLaren, Porsche, Land Rover, Cadillac, Maserati, Lotus and Mercedes-Benz, Smoke said.Smoke’s analysis assumes drivers use the most popular loan length, 72 months at the current new loan average of around 9.5%. It includes a 10% down payment and various fees like taxes and registration.The example implies a vehicle purchase price of about $130,000, he said.Vehicles with an average purchase price near this level include a Porsche Panamera or Cadillac Escalade, he said. Monthly car payments under those loan terms would likely be more than $2,000, Smoke said.More from Personal Finance:The salary Americans say they need to live comfortablyWhy electricity prices are surging for U.S. householdsHouse, Senate tax bills both end many clean energy creditsHouse Republicans included the tax break on auto loan interest in a massive domestic policy bill, the “One Big Beautiful Bill Act,” which lawmakers narrowly passed along party lines in May. The Senate may vote on a similar measure as soon as this week.In practice, few if any households would likely claim the full benefit due to an income limitation, experts said.Both versions of the legislation reduce the value of the car loan interest tax deduction once an individual’s annual income exceeds $100,000, or $200,000 for married couples filing a joint tax return. Households below those thresholds may qualify for the full tax benefit, but are unlikely to buy an expensive enough car to do so, economists said.Those drivers who might qualify to take on a six-figure car loan are unlikely to maximize the tax break, either. Taxpayers don’t get a financial benefit once income exceeds $150,000 (or $250,000 for married couples), according to the Institute on Taxation and Economic Policy, a left-leaning think tank.Qualifying cars must also receive final assembly in the U.S., according to current legislative text, potentially further limiting the potential roster of vehicles.The average car loan and interest chargesSpencer Platt | Getty Images News | Getty ImagesPeople walk by a Ferrari dealership in New York City.The average car loan so far in 2025 is about $43,000, according to Cox Automotive data.Under Republicans’ tax plan, the average buyer would get a tax deduction of about $3,000 in the first year of a six-year loan (and a roughly $2,000 average annual deduction over the loan’s life), Smoke said.However, based on the way tax deductions work, this wouldn’t mean car buyers get $3,000 in their pocket the first year.That $3,000 would be deducted from the buyer’s taxable income.“The math basically says you’re talking about [financial] benefit of $500 or less in year one,” and a declining value in subsequent years, Smoke said. That’s less than the average monthly payment on a new loan, he said.
Two Republican senators introduced principles for a bill meant to provide a legal framework for digital assets. Legislation would define when crypto will be overseen by the SEC, rather than the Commodity Futures Trading Commission. Movement on crypto bills remains uncertain as members of the House and Senate grapple with different versions.Two Republican senators are planning to debut a framework on Tuesday for a major bill that would set the rules of the road for digital assets.According to the framework, being introduced by Senate Banking Chairman Tim Scott of South Carolina and Sen. Cynthia Lummis of Wyoming, who heads the panel’s digital assets committee, the future bill will define when crypto is a commodity or a security, allow crypto exchanges to register with the Commodity Futures Trading Commission and reduce the SEC’s regulation of digital currencies.Also signing on are Sens. Thom Tillis, R-NC, and Bill Hagerty, R-Tenn.Those pushing the legislation say the proposed bill would also contain a “small, common-sense package of measures directed at preventing money laundering and sanctions evasion.”“These principles will serve as an important baseline for negotiations on this bill,” Scott told CNBC in a statement. “I’m hopeful my colleagues will put politics aside and provide long-overdue clarity for digital asset regulation.”Scott is looking to build off the bipartisan momentum around crypto on display last week, when a bill on stablecoins passed the Senate. Nearly all Republicans were joined by 18 Democrats in supporting the bill.Taking to the Senate floor after the vote, Lummis said the bill is “only the first step,” and she called on lawmakers to finish the more complex market structure bill this year.A House version of the market structure legislation was approved by two committees this month – the Financial Services Committee, which oversees the SEC, and Agriculture Committee, which oversees the CFTC.While President Donald Trump said on Truth Social that the House should move “LIGHTNING FAST” on the Senate’s stablecoin bill, House Financial Services Chairman French Hill, R-Ark., said at an event that he wants stablecoin and market structure bills to move together. He avoided answering questions about whether the House would take up the Senate’s differing stablecoin bill.The Senate Banking Committee’s subcommittee on digital assets will hold a hearing on the forthcoming bill at 3 p.m. ET.WATCH: Circle, Coinbase shares rise after Senate passes stablecoin legislation
U.S. futures markets are rallying on Monday night, after President Donald Trump announced a “ceasefire timeline” for the conflict between Iran and Israel. The S&P 500 Futures trade at 6,112.50, up 0.58%, followed by Nasdaq Futures at 22,256.00, up 0.88%, and finally Dow Futures at 43,136.00, up 0.55%, at the time of writing this, just hours after Iran’s missile strikes against U.S. bases located in Iran and Qatar on Monday.Trump shared a post on Truth Social on Monday, announcing a “Complete and Total CEASEFIRE,” at which point, he says, “THE 12 DAY WAR” will be considered “ended.”See Also: Trump Says There Is A Ceasefire Between Israel And IranHe further adds that this war could have gone on for years, destroying the entire Middle East, “but it didn’t, and never will,” Trump says, while congratulating both countries and everyone involved in this exercise. The Foreign Minister of Iran, Syed Abbas Araghchi, has, however, refuted claims of a ceasefire, saying that there was “no agreement” for ...Full story available on Benzinga.com
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Sales of previously occupied U.S. homes edged higher in May, as stubbornly high mortgage rates and rising prices made homebuying less affordable even as the inventory of properties on the market continued to increase
BOSTON, June 23, 2025 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Hims & Hers Health, Inc. (NYSE:HIMS) for potential securities law violations. Investors who have lost money in their Hims & Hers Health, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/hims.What is this all about?Shares of Hims & Hers Health fell over 25% on June 23 after Novo Nordisk announced it was terminating its partnership with the company, citing "deceptive marketing" and "illegal mass compounding" of semaglutide-based weight-loss treatments. The collaboration between the two healthcare companies launched in April, and allowed Hims to offer Wegovy through its telehealth platform. According to Novo Nordisk, Hims continued selling compounded versions of semaglutide even after the FDA determined that ...Full story available on Benzinga.com
Texas Gov. Greg Abbott has vetoed a bill that would have banned intoxicating hemp products in the state, sending the hotly debated issue back to the Legislature through a special session tasked with producing "strict, fair and legally sustainable” regulations.
New York City, June 23, 2025 (GLOBE NEWSWIRE) -- BitStarz, a trailblazer among real money online casinos in Canada, has unveiled a transformative upgrade to its VIP Starz Club on June 23, 2025.This enhancement aims to deliver an unparalleled, exclusive experience for its most loyal players, cementing BitStarz's reputation as one of the best online casinos for Canadians. By focusing on personalized rewards, substantial casino bonuses, and an expansive game portfolio, BitStarz is poised to redefine the online casino Canada real money landscape.Moreover, new players can claim up to $2,000 or 5 BTC plus 180 free spins across their first four deposits, adding even more excitement to their journey with BitStarz!BitStarz Revamps VIP Starz Club for Unparalleled Player RewardsThe VIP Starz Club, heralded as "The Most Exclusive VIP Program Ever," has been meticulously enhanced to cater to high-value players seeking a premium real money online gambling experience. 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This strategic focus aims to drive responsible growth in the national online gambling industry.The enhancement of the VIP Starz Club follows BitStarz's recent expansions in its game library, which now boasts over 6,500 titles, including slots, table games, live casino offerings, and exclusive BitStarz Originals. By prioritizing the VIP program, BitStarz is capitalizing on the growing demand for personalized gaming experiences, ensuring it remains a top choice for real money online gambling in Canada.To Learn More About Bitstarz's Vip Program, Visit The Official WebsiteBitStarz Launches New Bonuses to Compete with Top Casino SitesAlongside the VIP program upgrades, BitStarz has rolled out a comprehensive suite of casino bonuses and promotions to attract and retain players in the competitive online casino Canada real money market. These incentives are designed to cater to both new and existing players, ensuring a rewarding experience across all levels of engagement. Welcome Bonus Package: New players can claim up to $2,000 or 5 BTC plus 180 free spins across their first four deposits: 1st Deposit: 100% up to $400 or 1 BTC + 180 Free Spins (20 instant, 160 delivered over 8 days; minimum deposit $40 CAD for spins, $20 CAD for bonus only). 2nd Deposit: 50% up to $400 or 1 BTC. 3rd Deposit: 50% up to $800 or 2 BTC. 4th Deposit: 100% up to $400 or 1 BTC. Bonus Mania: Every deposit offers opportunities to win Mega and Minor Jackpots, Piggyz Break, 0.1x–10x deposit multipliers, 5%–50% cashback, and Jackpotz Dollar prizes. Level Up Adventure: A bi-monthly loyalty tournament with a $50,000 + $20,000 cash prize pool, where players progress through 41 levels by playing ...Full story available on Benzinga.com
Sales of previously occupied U.S. homes edged higher in May, as stubbornly high mortgage rates and rising prices made homebuying less affordable even as the inventory of properties on the market continued to increase.Existing home sales rose 0.8% last month from April to a seasonally adjusted an...
Compass sues Zillow over its "Zillow ban," alleging antitrust breach CBS NewsCompass Sues Zillow, Accusing Site of Gate-Keeping Home Listings The New York TimesCompass files lawsuit against Zillow over private home listings policy ABC News - Breaking News, Latest News and VideosThe war over real estate listings heats up as Compass targets 'Zillow ban' in new lawsuit Business Insider‘Unfiltered’: A ‘huge risk’ of litigation over private listings? Real Estate News by RealEstateNews.com
Novo Nordisk ends Hims & Hers collaboration over Wegovy weight loss drug ReutersNovo Nordisk ends deal with Hims & Hers over sales of Wegovy copycats; HIMS drops 20% CNBCHims & Hers Stock Plunges as Novo Nordisk Abruptly Ends Partnership Barron'sNovo Exits Hims & Hers Partnership, Citing Compounding Concerns Bloomberg.comHims & Hers’ stock plunges. Here’s why Wegovy parent ended its partnership with the company. MarketWatch
Unilever on Monday, June 23, said it has agreed to acquire Dr. Squatch, expanding its portfolio of Gen Z brands as it increases its investment in influencer marketing. The U.S. [...]
Bowman Joins Race For Powell's Job, Supports July Rate Cut Fed governor Chris Waller may have thought he was a shoo-in for Powell's replacement (and the role of shadow Fed chair) when he said last week that, contrary to the Powell narrative and FOMC consensus, the Fed should cut as soon as July.Waller Puts In Bid For Next Fed Chair, Says Powell Should Cut "As Early As July" https://t.co/uiN1Umb49j— zerohedge (@zerohedge) June 20, 2025Well, not so fast.Recall late last summer, it was Fed vice chair Michelle Bowman who staked out a bid for Powell's replacement when she first dissented with the Fed's jumbo 50bps rate cut meant to ease Biden/Kamala's election, and second when she (correctly) lashed out at illegal immigrants as the source of "upward pressure on rents."First she dissents, now this. If Trump wins, she will be the next Fed chair. https://t.co/eKtX10huDO— zerohedge (@zerohedge) October 2, 2024Fast forward to this morning, when Bowman officially reminded the world that she is also in the running for Powell's replacement, when she echoed Waller in saying that she would favor an interest rate cut at the next policy meeting in July so long as inflation pressures stay muted (which is doing just that).With her speech delivered in Prague, Bowman became the second central banker in recent days to suggest that President Donald Trump’s tariffs are likely to have a temporary and muted impact on prices, thus paving the way for lower rates.“Should inflation pressures remain contained, I would support lowering the policy rate as soon as our next meeting in order to bring it closer to its neutral setting and to sustain a healthy labor market,” she said in prepared remarks. “In the meantime, I will continue to carefully monitor economic conditions as the Administration’s policies, the economy, and financial markets continue to evolve.”Trump has been pressuring the Fed to lower interest rates as a way to save financing costs on the nation’s ballooning national debt. However, the Federal Open Market Committee at its meeting last week voted to hold its key interest rate in a target between 4.25%-4.5%.For her part, Bowman said she supported the change in approach the post-meeting statement took noting that policy uncertainty has diminished and the focus is now tilting towards potential labor market weakness.Economists had worried that Trump’s tariffs would spike inflation, but measures have shown little if any impact so far. In fact, as we showed overnight, Trump has been spot on, and export prices for Japanese cars destined to the US have cratered as it is Japanese car makers that eat the tariff cost.well would you look at that: guess who is eating all those tariff costs (hint, it's not US consumers) pic.twitter.com/iwdKyeqTII— zerohedge (@zerohedge) June 22, 2025“I think it is likely that the impact of tariffs on inflation may take longer, be more delayed, and have a smaller effect than initially expected, especially because many firms frontloaded their stocks of inventories,” Bowman said. “As we think about the path forward, it is time to consider adjusting the policy rate.”Trump has said he thinks the Fed should lower by at least 2 percentage points. Bowman’s remarks did not mention how much she thinks the rate should be lowered, and Waller said there is no need for such dramatic cuts.The FOMC next meets July 29-30. Traders are assigning just a 23% probability to a move at the meeting, with a likelihood of about 77% that the Fed will cut in September, according to the CME Group’s FedWatch gauge measuring futures market pricing.Bowman's comments sent 2Y yields and the dollar tumblig...... and sent odds of a rate cut surging.Expect this to last the next war freakout sends oil - and inflation - expectations surging, and undoing all of the above. Tyler DurdenMon, 06/23/2025 - 10:45
Hudson's Bay Company is scheduled to be back in court this morning, where it's expected a judge will hear on whether to sell three of its leases to B.C. billionaire mall owner Weihong Liu.
One of my pet peeves is when preparing folks’ tax returns, I see all too often a large percentage of folks owning some or a lot of foreign dividend paying stocks.
US Military Reveals Video Evidence Of Encounter With Disk Shaped "UAP" Remember when the US government essentially admitted to the existence of aliens and almost no one noticed? Launched in 2023, congressional hearings on government encounters with potential otherworldly phenomenon brought a series of witness testimonies into public focus that confirmed long time "conspiracy theories" that humans are not alone in the universe. Intel and military officials presented information under oath that the government had indeed encountered what they call "UAPs" (UFOs) and others claimed that non-human biological entities had been discovered along with recovered aircraft.But, the world was still reeling from pandemic hysteria, the US was on the brink of a possible civil war between conservatives and crazed leftists, the Ukraine war was fomenting a potential world war between NATO and Russia, and America was being led by a puppet president with a brain made of broccoli. Everyone was rather distracted.The sudden admission of the existence of interplanetary intelligence made most people rightfully suspicious. Why was the government, which withheld evidence from the public for decades, so interested in releasing that information now? Was the talk of UAPs and aliens really just a distraction from Joe Biden's deteriorating mental acuity? What is the world supposed to do with this revelation? Most people have bills to pay; will the aliens help pay our bills?In a political and social vacuum the concept of life from other planets with the ability to travel vast interstellar distances to Earth is mind boggling. However, the timing is odd and the government has yet to produce any tangible pieces of evidence of recovered craft or little green men. What we have seen is video evidence, once kept under wraps, of military encounters with strange objects doing things that no human technology is supposed to be capable of.The Department of Defense has revealed new video footage of another aircraft encounter. They describe the object as a massive "disc-shaped UAP" with an abnormal heat signature weaving through the clouds and changing directions in a way that cannot be explained.Investigative journalists Jeremy Corbell and George Knapp say the video was recorded by government personnel over the Afghan-Pakistan border in November 2020. The video was released by the DoD this week.The raw thermal imagery, along with two additional enhanced clips produced by the U.S. government, show the unidentified craft abruptly changing direction - all without any visible signs of propulsion. 'This is the first time in history that military filmed footage of a disc-shaped UAP, designated as such by the military, has been captured on camera and released to the public,' Corbell told DailyMail. 'It has implications that are huge.' The object was spotted during a reconnaissance mission by a high-altitude Air Force platform.The footage is reminiscent of what many now refer to as the "Tic Tac UFO" incident in 2004. Videos released by the Pentagon show U.S. Naval aviators sent to intercept a bizarre flying object that “took off like a bullet fired from a gun.” It was dubbed the “Tic Tac” UFO due to its shape and color, which resembled the popular breath mint. However, this breath mint was 45 feet across. It was detected by the Navy dozens of times in Nov. 2004.The event was buried by the US government and was not mentioned again until 2017 in an expose by the New York Times on a previously unknown UFO program. Top Gun pilot David Fravor was sent to investigate the object. The commander of the “Black Aces” Strike Fighter Squadron 41 sped through the skies in his F-18 and could not believe what he saw. Years later, his opinion hasn’t changed. “It’s not a bird. It’s not a weather balloon. It had no wings, it had no rotors, there was no wash...The four of us will to this day tell you that we have no idea what we saw, as far as where it was from or what it was, but it had incredible performance characteristics that were well beyond brand new Super Hornets right out of the factory, which were the jets we were flying.”Fravor also noted that his aircraft radar was receiving jamming cues from the object. Theories will abound on why top secret details on UAPs are being unveiled so abruptly, but encounters with possible alien life only bring the greater human condition to the forefront. It's hard to care about beings from other worlds until the numerous problems of our own world are confronted and solved. This is why these shocking admissions are receiving limited interest from the masses today. Tyler DurdenSun, 06/22/2025 - 22:45
Goldman Sachs flagged risks to global energy supply amid concerns over a potential disruption in the Strait of Hormuz that would lead to significant spikes in oil and natural gas prices, the bank said in a note dated Sunday.The bank estimated Brent crude could briefly peak at $110 per barrel if oil flows through the critical waterway were halved for a month and remained down by 10% for the following 11 months.
Should Iran follow through its threat to close the Strait of Hormuz, it could alienate its neighbors and trade partners. But the possibility of a closure of the strait is low, experts said, despite Tehran’s rhetoric around closing the strait. A closure would also provoke Iran’s markets in Asia, particularly China, which accounts for a majority of Iranian oil exports.In major move after U.S. struck Iranian nuclear sites, the country’s parliament on Sunday reportedly approved the closure of the Strait of Hormuz, risking alienating its neighbors and trade partners.The decision to close the waterway now rests with the the country’s national security council, and it’s possibility has raised the specter of higher energy prices and aggravated geopolitical tensions, with Washington calling upon Beijing to prevent the strait’s closure.But in all of this, it is Iran that stands to loose the most, which is why the possibility of a closure of the strait is low, experts said, discounting Tehran’s rhetoric.Vanda Hari, founder of energy intelligence firm Vanda Insights, told CNBC’s “Squawk Box Asia” that the possibility of closure remains “absolutely minimalistic.”If Iran blocks the strait, the country risks turning its neighboring oil producing countries into enemies and risks hostilities with them, she said.Furthermore, a closure would also provoke Iran’s market in Asia, particularly China, which accounts for a majority of Iranian oil exports.“So very, very little to be achieved, and a lot of self inflicted harm that Iran could do” Hari said.Her view is supported by Andrew Bishop, senior partner and global head of policy research at advisory firm Signum Global Advisors.Iran will not want to antagonize China, he said, adding that disrupting supplies will also “put a target” on the country’s own oil production, export infrastructure, and regime “at a time when there is little reason to doubt U.S. and Israeli resolve in being ‘trigger-happy’.”Clayton Seigle, senior fellow for Energy Security and Climate Change at the Center for Strategic and International Studies said that as China is “very dependent” on oil flows from the Gulf, not just Iran, “its national security interest really would value stabilization of the situation and a de-escalation enabling safe flows of oil and gas through the strait.”There are currently there are no indications of threats to commercial shipping passing the waterway, according to the Joint Maritime Information Center. “U.S. associated vessels have successfully transited the Strait of Hormuz without interruption, which is a positive sign for the immediate future.”Impact of potential disruptionsThe Strait of Hormuz is the only sea route from the Persian Gulf to the open ocean, and about 20% of the world’s oil transits the waterway. The U.S. Energy Information Administration has described it as the “world’s most important oil transit chokepoint.”“Iran’s operations in and around Hormuz are unlikely to be ‘all or nothing’ – but instead move along a sliding scale from total disruption to none at all,” said Signum’s Bishop.“The best strategy [for Iran] would be to rattle Hormuz oil flows just enough to hurt the U.S. via moderate upward price movement, but not enough to provoke a major U.S. response against Iran’s oil production and export capacity,” he added.On Sunday, Patrick De Haan, head of petroleum analysis at GasBuddy, said in a post on X that pump prices in the U.S. could climb to $3.35-$3.50 per gallon in the days ahead, compared to the national average of $3.139 for the week of June 16.Should Iran decide to close the strait, it would likely use small boats for a partial blockade, or for a more complete solution, mine the waterway, according to David Roche, strategist at Quantum Strategy. In a Sunday note, S&P Global Commodity Insights wrote that any Iranian closure of the strait would mean that not only Iran’s own exports will be affected, but also those of nearby Gulf nations, such as Saudi Arabia, the United Arab Emirates, Kuwait and Qatar.That would potentially remove over 17 billion barrels of oil from global markets, and affect regional refineries by causing feedstock shortages, the research firm said. The disruption to supply will impact Asia, Europe as well as North America.Besides oil, natural gas flows could also be “severely impacted,” S&P said, with Qatar’s gas exports of about 77 million metric tons per year potentially unable to reach key markets in Asia and Europe.Qatar’s LNG exports represent about 20% of global LNG supply.“Alternative supply routes for Middle Eastern oil and gas are limited, with pipeline capacity insufficient to offset potential maritime disruptions through the Persian Gulf and Red Sea,” S&P added.The Commonwealth Bank of Australia pointed out that “there is limited scope to bypass the Strait of Hormuz.” Pipelines in Saudi Arabia and the UAE have only a spare capacity of 2.6 million barrels a day between them, while the strait oversees the transport of an estimated 20 million barrels of oil and oil products per day, the bank said in a note.All these present upside risk to energy prices, with Goldman Sachs estimating that the market is pricing in a geopolitical risk premium of $12.If oil flows through the strait were to drop by 50% for one month and then were to remain down by 10% for another 11 months, Brent is forecast to “briefly jump” to a peak of around $110, Goldman said.Brent oil futures currently stand at $78.95 per barrel, while West Texas Intermediate futures were trading at $75.75.
Oil markets are reacting to Washington’s surprise attack against Iranian nuclear sites, further escalating the Iran-Israel conflict and raising questions over the crude supply outlook. Iran produced roughly 3.3 million barrels per day in May, according to an OPEC report citing independent estimates. Shipments for broader Middle East supply could be imperiled if Iran or its regional proxies take steps to block the key Strait of Hormuz.Oil futures rose in the first trading session since the U.S. launched direct attacks against Iran, casting a shadow over the supply outlook in the embattled oil-rich Middle Eastern region.U.S. crude oil on Monday morning rose were up 7 cents, or 0.1%, at $73.92 per barrel. Global benchmark Brent traded 8 cents higher, or 0.1%, at $77.09. Both benchmarks were well off their highs seen overnight, however. Brent had jumped more than 5% to crack $81 before easing. WTI also reached its highest levels since January before pulling back. President Donald Trump on Saturday surprised markets with the announcement that Washington had directly entered the Iran-Israel conflict, launching attacks against three Iranian nuclear sites in Fordo, Natanz and Isfahan. Investors are now looking to see how Iran will respond to the unprecedented U.S. strikes. Iran’s foreign minister said Sunday the Islamic Republic reserves “all options” to defend its sovereignty. The initial rise in oil prices could ease if Iran does not respond, according to S&P Global Platts.Strait of HormuzThe worst-case scenario for the oil market would be an attempt by Iran to close the Strait of Hormuz, according to energy analysts. Some 20 million barrels per day of crude, or 20% of global consumption, flowed through the strait in 2024, according to the Energy Information Administration.Iranian state media reported that Iran’s parliament had backed closing of the strait, citing a senior lawmaker. However, the final decision to close the strait lies with Iran’s national security council, according to the report.U.S. Secretary of State Marco Rubio has warned Iran against attempting to close the strait. It would be “economic suicide” for the Islamic Republic because their exports pass through the waterway, Rubio said.“We retain options to deal with that,” Rubio told Fox News in an interview Sunday. “It would hurt other countries’ economies a lot worse than ours. It would be, I think, a massive escalation that would merit a response, not just by us, but from others.”Iran produced 3.3 million bpd in May, according to OPEC’s monthly oil market report released in June, which cites independent analyst sources. It exported 1.84 million bpd last month, with the vast majority sold to China, according to data from Kpler.Rubio called on China to use its influence to prevent Tehran from closing the strait. About half of China’s waterborne crude oil imports comes from the Persian Gulf, per Kpler.“I encourage the Chinese government in Beijing to call them about that, because they heavily depend on the Straits of Hormuz for their oil,” Rubio said.Investors are also watching the odds of a further destabilization of the Iranian regime as a result of U.S.-Israeli hostilities, given the example of the long-spanning impact that the 2011 NATO-led ousting of Muammar Gaddafi had on Libya’s supplies.Regional tensionsTensions have likewise ramped up in neighboring Iraq, OPEC’s second-largest producer, where pro-Tehran militias have previously threatened Washington, should it target Iran’s supreme leader, Ayatollah Ali Khamenei.On Sunday, Iran’s Revolutionary Guard warned that “the US bases in the region are not their strength but rather their greatest vulnerability” without specifying particular sites, according to Google-translated comments carried by Iranian news agency Fars.Fledgling, but revived diplomatic ties between former rivals Iran and Saudi Arabia could meanwhile diffuse the possibility of disruptions in the supply of the world’s largest crude exporter.“The Kingdom of Saudi Arabia is following with deep concern the developments in the Islamic Republic of Iran, particularly the targeting of Iranian nuclear facilities by the United States of America,” the Saudi foreign ministry said on Sunday. Riyadh, a close U.S. ally in the Middle East, has limited its involvement in the Iran-Israel offensives.Back in 2019 — four years before resuming diplomatic relations with Iran — Saudi Arabia’s oil installation facilities at Abqaiq and Khurais sustained damage during attacks that were claimed by the Houthis, but for which Riyadh and the U.S. said Iran bore responsibility. Tehran denied involvement.At the resumption of Israeli-Iranian fire last week, the International Energy Agency’s chief Fatih Birol said the institution was monitoring the developments and that “markets are well supplied today but we’re ready to act if needed,” with 1.2 billion barrels of emergency stocks on standby.
Should Iran follow through its threat to close the Strait of Hormuz, it could alienate its neighbors and trade partners. But the possibility of a closure of the strait is low, experts said, despite Tehran’s rhetoric around closing the strait. A closure would also provoke Iran’s markets in Asia, particularly China, which accounts for a majority of Iranian oil exports.In major move after U.S. struck Iranian nuclear sites, the country’s parliament on Sunday reportedly approved the closure of the Strait of Hormuz, risking alienating its neighbors and trade partners.The decision to close the waterway now rests with the the country’s national security council, and it’s possibility has raised the specter of higher energy prices and aggravated geopolitical tensions, with Washington calling upon Beijing to prevent the strait’s closure.But in all of this, it is Iran that stands to loose the most, which is why the possibility of a closure of the strait is low, experts said, discounting Tehran’s rhetoric.Vanda Hari, founder of energy intelligence firm Vanda Insights, told CNBC’s “Squawk Box Asia” that the possibility of closure remains “absolutely minimalistic.”If Iran blocks the strait, the country risks turning its neighboring oil producing countries into enemies and risks hostilities with them, she said.Furthermore, a closure would also provoke Iran’s market in Asia, particularly China, which accounts for a majority of Iranian oil exports.“So very, very little to be achieved, and a lot of self inflicted harm that Iran could do” Hari said.Her view is supported by Andrew Bishop, senior partner and global head of policy research at advisory firm Signum Global Advisors.Iran will not want to antagonize China, he said, adding that disrupting supplies will also “put a target” on the country’s own oil production, export infrastructure, and regime “at a time when there is little reason to doubt U.S. and Israeli resolve in being ‘trigger-happy’.”Clayton Seigle, senior fellow for Energy Security and Climate Change at the Center for Strategic and International Studies said that as China is “very dependent” on oil flows from the Gulf, not just Iran, “its national security interest really would value stabilization of the situation and a de-escalation enabling safe flows of oil and gas through the strait.”There are currently there are no indications of threats to commercial shipping passing the waterway, according to the Joint Maritime Information Center. “U.S. associated vessels have successfully transited the Strait of Hormuz without interruption, which is a positive sign for the immediate future.”Impact of potential disruptionsThe Strait of Hormuz is the only sea route from the Persian Gulf to the open ocean, and about 20% of the world’s oil transits the waterway. The U.S. Energy Information Administration has described it as the “world’s most important oil transit chokepoint.”“Iran’s operations in and around Hormuz are unlikely to be ‘all or nothing’ – but instead move along a sliding scale from total disruption to none at all,” said Signum’s Bishop.“The best strategy [for Iran] would be to rattle Hormuz oil flows just enough to hurt the U.S. via moderate upward price movement, but not enough to provoke a major U.S. response against Iran’s oil production and export capacity,” he added.On Sunday, Patrick De Haan, head of petroleum analysis at GasBuddy, said in a post on X that pump prices in the U.S. could climb to $3.35-$3.50 per gallon in the days ahead, compared to the national average of $3.139 for the week of June 16.Should Iran decide to close the strait, it would likely use small boats for a partial blockade, or for a more complete solution, mine the waterway, according to David Roche, strategist at Quantum Strategy. In a Sunday note, S&P Global Commodity Insights wrote that any Iranian closure of the strait would mean that not only Iran’s own exports will be affected, but also those of nearby Gulf nations, such as Saudi Arabia, the United Arab Emirates, Kuwait and Qatar.That would potentially remove over 17 billion barrels of oil from global markets, and affect regional refineries by causing feedstock shortages, the research firm said. The disruption to supply will impact Asia, Europe as well as North America.Besides oil, natural gas flows could also be “severely impacted,” S&P said, with Qatar’s gas exports of about 77 million metric tons per year potentially unable to reach key markets in Asia and Europe.Qatar’s LNG exports represent about 20% of global LNG supply.“Alternative supply routes for Middle Eastern oil and gas are limited, with pipeline capacity insufficient to offset potential maritime disruptions through the Persian Gulf and Red Sea,” S&P added.The Commonwealth Bank of Australia pointed out that “there is limited scope to bypass the Strait of Hormuz.” Pipelines in Saudi Arabia and the UAE have only a spare capacity of 2.6 million barrels a day between them, while the strait oversees the transport of an estimated 20 million barrels of oil and oil products per day, the bank said in a note.All these present upside risk to energy prices, with Goldman Sachs estimating that the market is pricing in a geopolitical risk premium of $12.If oil flows through the strait were to drop by 50% for one month and then were to remain down by 10% for another 11 months, Brent is forecast to “briefly jump” to a peak of around $110, Goldman said.Brent oil futures currently stand at $78.95 per barrel, while West Texas Intermediate futures were trading at $75.75.
The US has sent its BIG bombs to Iran to strike three of Iran’s nuclear facilities — including Fordo, its top-secret site buried deep inside a mountain. Ever the bully himself, President Donald J. Trump called upon “Iran, the bully of the Mideast” to make peace.” Never mind that US ... [continued]The post The Israel-Iran Military Action Amplifies The Environmental Costs Of War appeared first on CleanTechnica.
SHANGHAI and NANJING, China and SAN FRANCISCO, June 22, 2025 /PRNewswire/ -- IASO Biotherapeutics ("IASO Bio"), a biopharmaceutical company focused on the discovery, development, manufacturing, and commercialization of innovative cell therapies and biologics, today announced that results from an investigator-initiated...
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US To Open Fly Production Facility For Combating Mexican New World Screwworms Authored by Naveen Athrappully via The Epoch Times (emphasis ours),Secretary of Agriculture Brooke L. Rollins launched a facility in South Texas on Wednesday that will release millions of sterile flies to fight the threat of flesh-eating parasites that are infecting cattle in Mexico and could reach the U.S. border soon, the Department of Agriculture (USDA) said in a June 18 statement.Livestock in pens at the Chihuahua Regional Livestock Union facility, outside Ciudad Juarez, Mexico, wait to be exported to the United States on Feb 10, 2025,. Jose Luis Gonzalez/ReutersThe parasite, New World screwworm (NWS), is a “devastating pest that causes serious and often deadly damage to livestock, wildlife, pets, and in rare cases, humans,” the USDA said. Some U.S. agriculture and cattle industry officials are worried that if the migration isn’t checked, the NWS flies could reach the border by the end of summer.According to the agency, NWS females lay eggs on wounds or orifices of warm-blooded animals. Once the eggs hatch into larvae, they burrow into the wound and feed off the flesh. As more maggots hatch and feed, the wound becomes deeper and larger. Eventually, it becomes so severe that the host animal dies.A single female NWS fly can lay up to 3,000 eggs over its lifespan. As such, a large infestation poses considerable risks to farmers raising cows, sheep, and other animals.In the 1950s, a strategy called sterile insect technique (SIT) was developed, which was used to eradicate NWS from the United States, Mexico, and Central America, the USDA said in an April 2025 document. SIT used gamma radiation to turn NWS pupae into sterile male flies.When the male flies are released en masse, they mate with wild female flies who end up laying unfertilized eggs, eventually leading to the eradication of these pests.“While NWS has been eradicated from the United States for decades, recent detections in Mexico as far north as Oaxaca and Veracruz, about 700 miles away from the U.S. border, led to the immediate suspension of live cattle, horse, and bison imports through U.S. ports of entry along the southern border on May 11, 2025,” said the USDA statement.The facility launched by the agriculture secretary is an $8.5 million sterile NWS fly dispersal site located at Moore Air Base in South Texas.The United States currently can procure 100 million flies per week from a sterile fly production facility in Panama. The USDA has invested $21 million in a production facility in Mexico that, when operational, will provide another 60-100 million flies weekly. Combined, at least 160 million flies per week are expected to be available for disbursal through the Moore Air Base facility.In addition, the USDA is also looking at installing a sterile fly production facility at Moore Air Base to complement the new dispersal facility.“The United States has defeated NWS before, and we will do it again,” said Rollins. “We do not take lightly the threat NWS poses to our livestock industry, our economy, and our food supply chain.“The United States government will use all resources at its disposal to push back NWS, and today’s announcement of a domestic strategy to bolster our border defenses is just the beginning. We have the proven tools, strong domestic and international partnerships, and the grit needed to win this battle.”(or screwworms)Countering NWS InfestationIn a June 18 statement, the National Cattlemen’s Beef Association (NCBA) announced “strong support” for USDA’s plan to construct an NWS sterile fly production facility at Moore Air Base.“To form an effective barrier along the U.S. southern border, we need upwards of 300 million sterile flies per week. During the height of screwworm eradication efforts in the 1960s, the United States released 400 to 500 million sterile flies per week,” it said.Moon Air Base is an ideal location for the production of sterile flies since its proximity to the border “make it easy for sterile flies to quickly be deployed to the areas of the U.S. most at risk.”In a June 19 post on social media platform X, Mexico’s agriculture secretary, Julio Berdegue, said the actions taken by the United States to strengthen the fight against NWS are a “positive step that, in several ways, will strengthen joint Mexico-U.S. efforts.”He expressed hope that Mexico can “resume the export of our cattle as soon as possible.”The economic fallout of not countering the spread of NWS infections can be massive.According to a January 2025 USDA document, a 1976 outbreak of NWS resulted in 1,488,256 cattle and 332,600 sheep and goats getting infested with these pests in Texas alone.If a similar scale outbreak were to occur in Texas at present, producers in the state could lose $732 million a year, with the Texas economy suffering a loss of $1.8 billion.The Associated Press contributed to this report. Tyler DurdenSun, 06/22/2025 - 22:10
The NATO summit takes place in The Hague on June 24-25. The U.S. is pushing for allies to sharply increase their defense spending to 5% of GDP. Some member states say they’re happy to do that, others are clearly not, and still don’t meet the 2014 target to spend 2% of GDP on defense.Fireworks could kick off during NATO’s annual summit this week, as the U.S. pushes its allies to sharply increase their defense spending to 5% of their gross domestic product (GDP).The 5% figure is made up of 3.5% of GDP that should be spent on “pure” defense, with an extra1.5% of GDP going to security-related infrastructure, such as cyber warfare capabilities and intelligence.While some member states say they’re happy to hit that milestone, and some countries are not too far off that mark, others don’t even meet the 2% threshold that was agreed over a decade ago. While they might pledge to increase defense spending, whether these promises materialize will be the key question.Talk is cheap and timelines can be vague — but concerted action is what the U.S. and President Donald Trump, who’s attending a NATO summit for the first time since 2019, will want to see.Christian Hartmann | AFP | Getty ImagesUS President Donald Trump arrives for the NATO summit at the Grove hotel in Watford, northeast of London on December 4, 2019.“The U.S. is looking for everybody to say, ‘Yeah, we mean it. We have a plan. 5% is real. We’re going to get there’,” Kurt Volker, former U.S. ambassador to NATO and distinguished fellow at the Center for European Policy Analysis (CEPA), said Wednesday.“But one thing to watch for is if the messaging is actually on point. Some of the messaging from some of our European allies, at least when they back brief their own media and their own parliaments is, ‘Yeah, 5% but it’s really 3.5% and 1.5%, and that can be pretty much anything’ ... So there’s going to be a whittling down [of defense spending pledges] almost immediately,” Volker noted at a CEPA briefing ahead of the NATO summit.“And if that is over emphasized, you’re going to have a clash with the U.S.,” Volker added.High stakes, low expectationsThe stakes are high as allies meet in The Hague in the Netherlands on June 24-25, given ongoing conflict in Ukraine and war in the Middle East threatening to destabilize the global economy.Defense analysts say this year’s meeting could be the most consequential in the alliance’s 77-year history, with the U.S.’ spend-pushing heavily forewarned before the summit.U.S. Defense Secretary Pete Hegseth was emphatic as he said 5% “will happen” at a separate NATO gathering earlier this month, with NATO Secretary General Mark Rutte also widely plugging that message to allies too.Petras Malukas | Afp | Getty ImagesGerman Air Force helicopters are pictured at the airfield of Pajuostis in Panevezis, Lithuania on May 6, 2025, during the Griffin Lightning 2025′′ military exercises. Defense spending has been a thorny subject for NATO members for years, and a persistent source of annoyance and anger for Trump, who was demanding that allies double their spending goals from 2% to 4% of GDP all the way back in 2018.NATO defense expenditure has nevertheless sharply picked up among NATO members since Trump was last in power.Read moreCan Trump force the hand of NATO allies to spend up to 5% of GDP on defense?UK put on a war footing with defense overhaul — but is it too little, too late?NATO’s Rutte tells Europe to ‘stop complaining’ and increase defense spendingBack then, and arguably at the height of the White House leader’s irritation with the bloc, only six member states met the 2% target, including the U.S. Times have changed, however; by 2024, 23 members had reached the 2% threshold, according to NATO data.While some greatly surpassed that target — such as Poland, Estonia, the U.S., Latvia and Greece — major economies including Canada, Spain and Italy have lagged below the contribution threshold. No NATO member has so far reached the 5% spending objective, and some are highly likely to drag their feet when it comes to getting to that milestone now.Dirk Waem | Afp | Getty ImagesPicture taken during a visit of NATO military exercise “Dacian Spring” in Romania, on Monday 12 May 2025. The U.K., Poland and Germany have already said they intend to increase defense spending to the requisite target, but their timeline is unclear. The UK is also reportedly trying to delay the spending rise among by three years, according to the i newspaper. CNBC has reached out to Downing Street for comment.Spain and Italy are seen as major holdouts against the 5% target, after only committing to reach the 2% threshold in 2025. Canada meanwhile spent 1.3% of GDP on defense in 2024, NATO estimates suggest, even less than Italy, Portugal or Montenegro.Spending 5% on defense is a target, but not a given, Jason Israel, senior fellow for the Defense Technology Initiative at CEPA, said Wednesday.“Every single country ... is trying to figure out how they’re going to thread that needle of being able to make the commitment, but also make the accounting work when every single nation has to make trade offs against what is generally unpopular, massive increases in defense spending,” he noted, stressing it’s a “long way from commitments ... to actual capability,”Europe must commitEuropean aerospace and defense companies are following NATO spending commentary and commitments closely, but say they’re stuck in limbo between pledges and action by way of concrete government procurement.The leaders of Leonardo, Embraer and Saab told CNBC last week the continent needs to act decisively and collectively to make long-term commitments to defense spending and investment contracts to enable companies like theirs to scale-up their production capacity and manufacturing capabilities.“If we go for 3.5% [of pure defense spending] across the European part of NATO, that will mean a lot, and more will be needed in terms of capacity. But we need to understand the capability targets better,” Micael Johansson, the chief executive of Swedish defense company Saab, told CNBC.“We can do more, and I think we need to come together in Europe to create more scale, also in what we do to align demand, align requirements, so we can actually be competitive player in internationally. So there’s a lot to do still,” he said.Roberto Cingolani, CEO of Italian defense firm Leonardo, agreed that “there’s a lot of work to be done.”“Leonardo has a capacity boost program at the moment because we are quite aware of the fact that we have to increase the production of specific platforms, defense systems, electronics and technology solutions. It is not only matter of money, it’s matter of priority. It’s matter of reducing the fragmentation among countries in Europe,” he told CNBC’s Charlotte Reed at the Paris Air Show.Defense companies needed to know what will be expected of them ahead of time, Cingolani said, given the complex nature of global supply chains that underpin the defense industry.“We have approximately 5000 companies in the supply chain, and we are in 160 countries in the world. So it’s very complicated,” he noted. “You have to invest in supply chain. You have to make investments. You have to protect the supply chain. But of course, we also have to face a shortage of raw materials ... There is no no simple solution. If there were a solution, we would have done it already,” he said.
Market reactions after the U.S. strikes have been less aggressive, especially relative to just over a week ago when Israel launched airstrikes against Iran. “The markets view the attack on Iran as a relief with the nuclear threat now gone for the region,” said Dan Ives, managing director at Wedbush.The U.S. joining the war between Israel and Iran might seem like a geopolitical flashpoint that would send markets tumbling. Instead, investors are largely shrugging off the escalation, with many strategists believing the conflict to be contained — and even bullish for some risk assets.By 9:30 a.m. in London on Monday, the MSCI World index, which tracks over a thousand large and mid-cap companies from 23 developed markets, was just 0.1% lower.European shares pared early losses to trade in firmer territory, with the pan-European Stoxx 600 marginally higher following a sell-off at the open. U.S. stock futures also ticked higher, with futures tied to the S&P 500 gaining 0.2%.Safe-haven assets also saw a muted response. The yield on the benchmark 10-year note gained 2 basis points, while spot gold shed 0.2% to trade at around $3,359 per ounce. The safe-haven Swiss franc was last seen flat against the U.S. dollar, which rose against several currencies on Monday morning.In general, the market reactions after the U.S. strikes have been less aggressive, especially relative to just over a week ago when Israel launched airstrikes against Iran.“The markets view the attack on Iran as a relief with the nuclear threat now gone for the region,” said Dan Ives, managing director at Wedbush, adding that he sees minimal risks of the Iran-Israel conflict spreading to the rest of the region and consequently more “isolated.”While the gravity of the latest developments should not be dismissed, they are not seen as a systemic risk to global markets, other industry experts echoed.On Saturday, U.S. President Donald Trump said that the United States had attacked Iranian nuclear sites. Traders are now keeping a close eye on any potential countermeasures from Iran following the U.S. strikes on its nuclear facilities.Iran’s potential closure of the StraitIran’s foreign minister warned that his country reserved “all options” to defend its sovereignty. According to Iranian state media, the country’s parliament has also approved closing the Strait of Hormuz, a pivotal waterway for global oil trade, with about 20 million barrels of oil and oil products traversing through it each day.“It all depends on how Iran responds,” said Peter Boockvar, chief investment officer at Bleakley Financial Group. “If they accept the end of their military nuclear desires... then this could be the end of the conflict and markets will be fine,” he told CNBC. Boockvar is not of the view that Iran will carry out the disruption of global oil supplies.The worst-case scenario for markets would occur if Iran were to close the Strait, which is unlikely, said Marko Papic, chief strategist at GeoMacro Strategy.“If they do, oil prices go north of $100, fear and panic take over, stocks go down ~10% minimum, and investors rush to safe havens,” he said.However, markets are subdued now given the “limited tools” that Tehran has at its disposal to retaliate, Papic added. The idea of shutting down the Hormuz waterway has been a recurring rhetoric from Iran, but it has never been acted upon, with experts highlighting that it is improbable.In 2018, Iran warned it could block the Strait of Hormuz after the U.S. pulled out of the nuclear deal and reinstated sanctions. Similar threats were made earlier in 2011 and 2012, when senior Iranian officials — including then-Vice President Mohammad-Reza Rahimi — said the waterway could be closed if Western nations imposed more sanctions on Iran’s oil exports due to its nuclear activities.“Tehran understands that, if they were to close the Strait, the retaliation from the U.S. would be swift, punitive, and brutal,” Papic added.In a similar vein, Yardeni Research founder Ed Yardeni said the latest events have not shaken his conviction in the U.S. bull market.“Geopolitically, we think that Trump has just reestablished America’s military deterrence capabilities, thus increasing the credibility of his ‘peace through strength’ mantra,” he said, adding that he is targeting 6,500 for the S&P 500 by the end of 2025.While predicting geopolitical developments in the Middle East is a “treacherous exercise,” Yardeni believes that the region is in for a “radical transformation” now that Iranian nuclear facilities have been destroyed.
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The dollar index was up 0.45% at one point on Monday, indicating a gain against a basket of currencies. However, a growing consensus among investment banks suggests the dollar’s strength may prove temporary. Analysts say the dollar rally is masking concerns over U.S. fiscal policy, trade wars, and weakening international demand for U.S. assets.The U.S. dollar surged in early trading on Monday, benefiting from its traditional safe-haven status after U.S. military strikes on Iran — but analysts are warning the gains may be short-lived.The dollar index was up 0.45% at one point, indicating a gain against currencies such as the Japanese yen, the euro and the British pound, as well as the Canadian, Australian and New Zealand dollars. The greenback was last seen trading around 0.4% higher at 9.30 a.m. London time.“The escalation of the Middle East crisis after the US attacks Iran during the weekend is expected to lead to some of the traditional safe haven effects in the market [such] as the oil price is rising, lower equity prices and a stronger dollar,” said Kirstine Kundby-Nielsen, fixed income and currency research at Danske Bank.Despite the initial rally, a growing consensus among investment banks suggests the dollar’s strength may prove temporary.Some analysts say the Middle East conflict is merely masking concerns over U.S. fiscal policy, trade wars, and weakening international demand for U.S. assets, which are likely to regain focus once the immediate crisis-driven demand fades. The dollar index is down more than 8% this year, reflecting the long-term concern.The U.S. dollar’s immediate strength is tied to fears of how Iran might retaliate, with a closure of the Strait of Hormuz — a waterway vital to the transit of oil — at the top of those concerns.Yet, RBC Capital Markets analysts caution that the situation is more complex, noting that Iran has asymmetric capabilities to “strike individual tankers and key ports.”“Hence, we do not believe it is a ‘full closure or nothing’ scenario when it comes to the waterway, and Iran may deploy their asymmetric capabilities to raise the economic cost of the combined US/Israeli operations,” said RBC’s Halima Croft, a former CIA analyst, in a note to clients.Jordan Rochester, head of FICC strategy for the EMEA region at Mizuho, also expressed some optimism when it came to the possibility of a Strait of Hormuz closure. “It’s a bold call but I doubt the strait of Hormuz is blocked and we avoid the $100-130pb oil levels touted by the sell side with Iranian allies such as China likely to be applying pressure to keep oil flows ongoing,” he said in a Monday morning note. “The US is also likely to have made energy infrastructure a red line attached to its support of Israel.”However, a key indicator of safe-haven demand — the U.S. Treasury market — appears to be telling an entirely different story through its unusually muted reaction.A global crisis typically sends investors flocking to U.S. government debt, but Danske Bank’s Kundby-Nielsen said the “impact on US Treasuries is a bit more uncertain given the significant trade deficit and tariffs combined with a potential increase in the supply of Treasuries given the soft fiscal policy”.A global trade war is compounding these fiscal concerns.With a July 9 deadline approaching until a reprieve on levies expires, the U.S. is threatening tariffs of up to 50% on most imports from the European Union. “As far as the USD goes, we’d suspect that the USD would be sinking lower if it weren’t for the War, largely because the news pertaining to US import tariffs is not particularly good, and because data from outside the US, while weak, does not point to further deterioration relative to the US,” said Thierry Wizman and Gareth Berry, Macquarie’s currency and rates strategists, in a June 20 note to clients that preceded the U.S. strike on Iran.FX strategists from Bank of America also point out that investors are betting heavily on the decline of the U.S. dollar, which adds momentum to any downward move for the currency.According to the BofA global fund manager survey released on June 16, fund managers currently see short-U.S. dollar as the third most crowded trade — although the survey was carried out before to the United States’ involvement in the Middle East conflict.
It's from a familiar company, but one you may not expect.
When Jeff Bezos puts money behind something, people pay attention. The founder of Amazon doesn't just throw cash at random trends—he invests with a long-term vision and a clear eye for disruption. That's why it raised eyebrows when Bezos backed Arrived Homes, a real estate platform that lets everyday people invest in rental properties with as little as $100. If one of the wealthiest people on earth is betting on single-family rentals, it's worth asking: what does he see that the rest of us might be missing?The answer has everything to do with how real estate is changing—and how platforms like Arrived are opening the doors to a type of investing that was once reserved for the ultra-wealthy. If you've ever thought about owning rental property but didn't want the landlord life (or the six-figure price tag), this is how you get in—alongside the same platform backed by Bezos himself.Related:This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100.Tired of waiting on the sidelines? With Groundfloor, you can invest in real estate projects with as little as $10 — no accredited investor status required.The Rental Housing Boom, ExplainedLet's start with the big picture. The U.S. is in the middle of a long-term shift toward renting. Home prices have soared, mortgage rates remain high, and affordability continues to push millions of Americans out of the buyer's market and into long-term rentals. But here's the twist: even ...Full story available on Benzinga.com
By Alex Longley and Yongchang Chin Jun 21, 2025 (Bloomberg) –The oil market has been wrestling for days with Donald Trump’s next act in an escalating Middle East conflict. Now American...
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I was a student at Kent State University on May 4, 1970 when the National Guard murdered four students (including two of my friends) and wounding nine. This was the worst memory of my life and I experienced a visceral reaction this month as I watched Trump call in the National Guard to Los Angeles over the objections of the mayor of the city as well as the governor of California.
Franklin County has unique 200-million-year-old features called Jurassic armored mud balls (“JAMBs”). Hopefully, many readers have heard about these. The Massachusetts Legislature is considering recognizing JAMBs as the official state “Sedimentary Structure,” in addition to over 50 other distinctly Massachusetts items such as Podokesaurus (state dinosaur), Dinosaur Footprints (state fossil), and Boston Crème (state donut).
President Donald Trump is proposing draconian cuts to international humanitarian aid, human services, to public media, and aid to low-income Americans. I thought the reason for cutting international humanitarian aid was to better use that money for Americans in need. But we are cutting funding from Americans too. I thought the reason for cutting so much “waste” was so we could take the burden of high taxes off American taxpayers. But if the military is going to get 13% more funding than there is zero overall savings to give back to Americans. I thought we were moving out of Ukraine to save money for American taxpayers. Yet the military is getting so much more money. So I just do not get it. Please explain to me MAGA, what is the point?
Recently, nearly 200 donors, legislators and media representatives toured our Emergency Department (ED) at Cooley Dickinson Hospital (“Cooley’s new ‘front door’ on display,” Gazette, June 7). Our long-awaited project, which is being completed in phases, expands the ED by 40%. It features new equipment, more private rooms and a floor plan designed with patients in mind. Earlier this year, we opened a dedicated space to provide a calm, healing environment for those needing mental and behavioral health support. Additional ambulance bays await our region’s EMS teams as they bring patients to our ED. The new addition opens in July and renovations in the existing ED continue through early 2026. Our ED is open throughout the project.
The company has been living on borrowed time, and the much-loved name will soon disappear.
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'Worst Ally': Army Colonel Removed From US Joint Chiefs Staff Over Israel Criticism A United States Army colonel has been removed from his position on the Pentagon staff supporting the Joint Chiefs after his Israel-critical social media posts were publicized by Jewish News Syndicate (JNS). Until this week, Army Col Nathan McCormack led the Joint Chiefs of Staff's Levant and Egypt branch. That team is part of the Joint Staff J5, which proposes strategies, plans, and policy recommendations to the chairman of the Joint Chiefs. Within hours of Tuesday's JNS report, McCormack was yanked from his post, with a Pentagon official telling JNS:“The individual is being returned to [the Army] while the matter is being investigated...The information on the X account does not reflect the position of the Joint Staff or the Department of Defense...Our global alliances and partnerships are vital to our national security, enhancing our collective defense, deterrence and operational reach.” Colonel Nathan McCormack was commissioned as an infantry second lieutenant two months after the United States invaded Iraq over false claims of a nuclear weapons program Here are the published comments that led to McCormack's removal: May 2025: "Netanyahu and his judeosupremacist cronies are determined to prolong the conflict for their own goals: either to remain in power or to annex the land."June 2024: "The more Israel's death cult escalates toward Hezbollah, the more we will see show-of-force attacks like this and 13 April." June 2024: “The U.S. has not been an honest broker. We have overwhelmingly enabled Israel’s bad behavior.”May 2024: Amid talk of pushing Gaza residents into other countries, McCormack wrote, "[Israel] wants to expel them and cleanse 'Eretz Israel' of ethnic Palestinians." April 2024: “I’ve lately been considering whether we might be Israel’s proxy and not realized it yet. Our worst ‘ally.’ We get literally nothing out of the ‘partnership’ other than the enmity of millions of people in the Middle East, Africa and Asia.” Oct 2023: "I agree that Israel has an absolute right to respond militarily, and that civilians may legally be caught in the crossfire, but you are ignoring the requirement of proportionality. Israel’s responses always (always—not hyperbole) disproportionately target Palestinian civilians." The JNS report that prompted McCormack's removal from the J5 gave no indication of how his semi-anonymous posts came to the pro-Israel outlet's attention. Up until his 2021 death, zealously pro-Israel billionaire and mega-campaign-contributor Sheldon Adelson was JNS's largest single donor. The JNS article included a disapproving quote from another Adelson-funded entity, the Foundation for Defense of Democracies, which -- despite its generic-sounding name -- declared in its initial tax-exempt-status-filing that its goal was to "enhance Israel's image in North America." McCormack's posts were made on X under an account using the name "Nate" and the handle "@mick_or_mack," with a profile that used a cartoon version of himself. His account no longer exists, but several of his posts are still viewable via internet archive links. McCormack didn't strive for full anonymity, as he once posted a photo of a Meritorious Service Medal certificate showing his full name. In May, he replied to an X user, "I’m the Joint Staff J5 Israel branch chief.” In Dec 2008, then-Captain McCormack speaks to a sheikh in Butoma, Iraq while serving as a 25th Infantry Division company commander (photo: US Army) The Pentagon told JNS another officer has been assigned to "look into the matter," but it's not clear that McCormack violated any Army policies. The branch's social media guide says "soldiers are encouraged to express their opinions of the political process online and offline." It advises soldiers to "avoid use of DoD titles, insignia, uniforms or symbols in a way that could imply DoD sanction or endorsement of content on your personal page." McCormack's profile included a disclaimer that his posts “do not represent the position of the Department of Defense or any of its components.” Then again, one of his posts might be read as attributing a position to the DOD, as he wrote:“Along with the World Health Organization and United Nations, we (Department of Defense, Department of State and the U.S. Intelligence Community) consider the Gaza Health Ministry figures to be generally reliable (though not precise), but probably less so now than they were originally due to the general destruction and chaos in Gaza.”Even if he's spared any formal discipline, it's safe to say there's zero chance McCormack will be returning to his position on the J5 staff. Beyond its general influence over US policy and personnel, Israel has a history of a strong presence directly inside the Pentagon. Here's how former Army Col. Lawrence Wilkerson -- who served as Secretary of State Colin Powell's chief of staff amid the run-up to the 2003 invasion of Iraq -- described what he witnessed: 🚨Col. Lawrence Wilkerson: ‘It’s UNQUESTIONABLE that the Epstein business was heavily influenced by MOSSAD!’‘I watched Mossad take over the Pentagon in 2002. The Pentagon was infiltrated by Mossad. They did not need any identification to get through the river entrance to the... pic.twitter.com/rZtnFTPc1k— Going Underground (@GUnderground_TV) June 9, 2025A Dallas native and Texas A&M graduate, McCormack was commissioned as an infantry second lieutenant just two months after the United States invaded Iraq based on the false pretense that Saddam Hussein was developing a nuclear weapon. As the United States contemplated that invasion, Benjamin Netanyahu told Congress: "There is no question whatsoever that Saddam is seeking and is working and is advancing towards the development of nuclear weapons—no question whatsoever.” "If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region." McCormack would later be deployed to Iraq, where he surely witnessed for himself the utter emptiness of Netanyahu's claims, and the catastrophic consequences of acting on them. As the Pentagon participated in deliberations over joining another Middle East war on nearly-identical premises, Colonel McCormack's contrarian perspective might have been particularly valuable at such a pivotal moment. Tyler DurdenSat, 06/21/2025 - 22:45
A transcript of President Donald Trump’s speech on U.S. airstrikes on Iran, which he delivered at the White House on Saturday night. Trump said, “Our objective was the destruction of Iran’s nuclear enrichment capacity and a stop to the nuclear...
FedEx founder Fred Smith dies, sources confirm WREG.comView Full Coverage on Google News
Friends of mine, prominent players in the New York City business community, tell me they are horrified that a certified socialist, Zohran Mamdani, might become our next mayor.
FedEx Founder Frederick Smith passes away, multiple sources confirm FOX13 MemphisFedEx founder Fred Smith has died localmemphis.comFedEx founder Fred Smith dies, sources confirm WREG.comFred Smith, FedEx founder and American business magnate, dies at 80 | Reports The Commercial AppealFred Smith family: All about FedEx founder's wife and children Hindustan Times
Ninth Circuit Strikes Down California's "1-In-30" Gun-Rationing Law Authored by Jonathan Turley,A unanimous panel of the United States Court of Appeals for the Ninth Circuit has struck down California’s “1-in-30” gun rationing law as unconstitutional under the Second Amendment.The law restricted citizens to one gun purchase every 30 days and was based on a ridiculous rationale that was shredded by the three-judge panel.California Penal Code § 27535(a) states that individuals may not apply “to purchase more than one firearm within any 30-day period,” and § 27540(f) prohibits a firearms dealer from delivering any firearm if the dealer is notified that “the purchaser has made another application to purchase a handgun, semiautomatic centerfire rifle, completed frame or receiver, or firearm precursor part” within the preceding 30-day period.Writing for the court, Judge Danielle Jo Forrest found the California law facially unconstitutional. She wrote:California suggests that the Second Amendment only guarantees a right to possess a single firearm, and that Plaintiffs’ rights have not been infringed because they already possess at least one firearm. California is wrong. The Second Amendment protects the right of the people to “keep and bear Arms,” plural. U.S. Const. amend. II (emphasis added). This “guarantee[s] the individual right to possess and carry weapons.” Heller, 554 U.S. at 592 (emphasis added).And not only is “Arms” stated in the plural, but this term refers to more than just guns. It includes other weapons and instruments used for defense. See id. at 581. California’s interpretation would mean that the Second Amendment only protects possession of a single weapon of any kind. There is no basis for interpreting the constitutional text in that way.The court rightfully dismisses the state’s forced and frankly frivolous argument.It then delivers a particularly lethal line on the historical prong of the analysis.Next, the panel held that California’s law is not supported by this nation’s tradition of firearms regulation. Bruen requires a “historical analogue,” not a “historical twin,” for a modern firearm regulation to pass muster. Here, the historical record does not even establish a historical cousin for California’s one-gun-a-month law.Here is the opinion: Nguyen v. Bontan Tyler DurdenSat, 06/21/2025 - 22:10
Democrats seem to be at odds once more when it comes to the Mideast. Even before President Donald Trump's announcement Saturday that the U.S. had struck Iranian nuclear sites, progressives demanded unified opposition of any U.S. such move. Party leaders...