Category: Economy

“Your ‘Equity’ Is Fake” – Robinhood Faces Backlash After OpenAI Denounces Tokenized Shares Authored by Kathleen Kinder via CoinLaw.io, OpenAI has publicly rejected Robinhood’s new “OpenAI tokens,” clarifying they do not represent actual equity in the company. Key Takeaways OpenAI disavowed Robinhood’s tokenized equity products, stating they do not grant real ownership in OpenAI. The tokens offer…

Trump Sparks Domestic Labor Renaissance: Native-Born Workers Surge To Record High As Foreign-Born Plunge There were plenty of good details to report in today’s jobs report: the unexpected surge in monthly jobs (which came almost above the top of the forecast range), the drop in unemployment, the moderation in hourly earnings, the continued loss of…

Democrat Civil War Intensifies As Obamaworld Opposes Mamdani The Democrat Party is grappling with internal divisions following Democratic Socialist Zohran Mamdani’s upset victory in New York City’s Democrat mayoral primary election this week. Mamdani, a 33-year-old New York State Assembly member, decisively defeated disgraced former New York Gov. Andrew Cuomo with 56% to 44% in…

Supreme Court To Hear Challenges To State Laws Keeping Males Out Of Female Sports Authored by Matthew Vadum via The Epoch Times, The Supreme Court agreed on July 3 to consider whether states can ban male athletes who don’t identify with their sex from competing on school sports teams intended for females. The decisions to…

Goldman Finds ‘Net Purchase Intent’ For Tesla Begins Recovery  Wednesday marked delivery report day for Tesla and Rivian, as both electric vehicle makers posted figures reflecting ongoing pressure from waning demand and intensifying competition. Offering fresh insight and key takeaways to help assess the EV market is a new note from Goldman Sachs analysts led by…

Key Points Tesla (NASDAQ: TSLA) saw a 41% year-over-year sales drop in Europe in May and continues to lose market share in China and the U.S., pressured by intense local EV competition and pricing wars. The company’s pivot toward autonomous driving as a growth narrative faces regulatory hurdles and technological skepticism, with early testing of…

Key Points in This Article: Palantir Technologies‘ (PLTR) AI-driven data analytics platform is positioned at the leading edge of the AI revolution, but its high valuation requires careful investor scrutiny. Three stocks offering critical AI infrastructure support represent greater diversified growth potential, potentially surpassing Palantir’s returns. Nvidia made early investors rich, but there is a…

California Officials Tout New Crime Stats But Report Lacks Full Picture Authored by Jill McLaughlin via The Epoch Times, A July 1 report from the California attorney general’s office showed crime headed downward in the state. Data from 2024 showed a 6 percent decrease in violent crime, an 8.4 percent drop in property crime, a…

On The Cusp: House Democrats Stall ‘Big Beautiful Bill’ For Hours After GOP Votes To Advance Overnight, most of the Republican holdouts on the ‘Big Beautiful Bill’ relented, flipping their support to advance the legislation to a final vote on the House floor after several deals were cut with President Trump. Earlier in the morning, Speaker Mike…

Services Surveys Signal ‘Expansion’ In June, Inflation Fears Remain High On the heels of strong Manufacturing survey data this week, US Services data expectations were more mixed for June (PMI exp down, ISM exp up) amid a sudden plunge in ‘hard’ data. S&P Global US Services PMI fell from 53.7 to 52.9 in June (below…

NATO Chief ‘Totally Understands’ US Halting Weapons For Ukraine As Russia Celebrates NATO Secretary General Mark Rutte spoke to Fox News in a Wednesday interview, reacting to the ‘shock’ White House announcement halting many arms and ammo transfers to Ukraine. Rutte said that he understands the United States’ need to safeguard its own defense stockpiles,…

“June Looks Strong”: Boeing Monthly Aircraft Delivery Tracker Signals Recovery Goldman analysts led by Noah Poponak maintain a “Buy” rating on Boeing, citing new Planespotters data that suggests the embattled planemaker may finally be emerging from its manufacturing slump. A series of mid-air incidents and quality control issues had previously forced 737 Max production caps,…

My Wray Or The Highway: New Report Raises Troubling Questions Over The FBI Spiking Report Contradicting Director Authored by Jonathan Turley, Newly declassified FBI documents obtained by Fox raise troubling questions over the FBI allegedly spiking findings that contradicted the testimony of  then-FBI Director Christopher Wray. The FBI had uncovered a Chinese conspiracy to influence…

Blowout June Payrolls: 147K Jobs Added, Smashing Expectations; Unemployment Rate Drops To 4.1% After yesterday’s shockingly bad ADP print of negative 33K, the market was braced for the worse, with the whisper number for today’s payrolls sliding to 96K, the first sub 100K print and far below the consensus of 106K, and many even contemplating…

‘Deep TriState’ Layoffs Leave Continuing Jobless Claims ‘Stuck’ At Highest Since 2021 While payrolls data dominates the news on the labor market, the higher frequency (and perhaps less ‘sanitized’) jobless claims data remains noteworthy. Initial claims dropped from 237k to 233k last week, rolling over from 9 month highs… Source: Bloomberg Continuing jobless claims were…

Futures Coiled At Record High Ahead Of Closely Watched Jobs Report US equity futures are slightly higher with small caps outperforming into the payrolls report. As of 8:10am ET, S&P 500 futures are up 0.2% while Nasdaq 100 contracts were up 0.1%. The tax/budget bill appears likely to pass later this morning after a dramatic…

These Are The US Cities With The Most And Least Health Insurance In 2023, 92% or 305 million Americans had health insurance, either for some or all of the year. Health insurance coverage varies widely across the country, shaped by differences in state policies, economic conditions, and local job markets. This map, via Visual Capitalist’s…

Schengen Shaken? Poland To Introduce Border Controls With Germany As Migration Crisis Grows Via Remix News, Poland is set to reinstate temporary controls on its borders with both Germany and Lithuania, a decision that has already drawn a reaction from German Chancellor Friedrich Merz. Polish Prime Minister Donald Tusk announced the measure on Tuesday, stating:…

AfD Ban Looms Closer With Likely Election Of New Far-Left Judge To Germany’s Top Court Via Remix News, Frauke Brosius-Gersdorf, a lawyer described as far-left, is poised to become a new judge at the Federal Constitutional Court, Germany’s top court, and it is very bad news for Germany’s conservatives. This new development could significantly increase…

“Buckle The F**k Up”: Trumpworld Rages At GOP Holdouts After Tax Bill Stalls In House Update (0018ET): Wednesday night came and went without the House GOP advancing the ‘Big Beautiful Bill Act’ to the floor for debate, after roughly a dozen Republicans stood their ground.   As such, things have officially gotten ugly – with longtime Trump aides…

How The Supreme Court Went Wrong In The ‘Ghost Gun’ Case Authored by Rob Natelson via The Epoch Times, In its term just ended, the Supreme Court ruled that the federal Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) may regulate weapons parts kits as “firearms.” The case was Bondi v. VanDerStok. It also is…

Queens Driving School Busted For Running Bribe-for-License Scam For Illegal Immigrants A Queens driving school bribed DMV employees to illegally fast-track driver’s licenses for undocumented immigrants—many of whom couldn’t drive or speak English—according to Staten Island prosecutors. T&E Driving School allegedly took cash from Chinese immigrants and paid off DMV examiners in Staten Island to…

House Vote On Pins & Needles As GOP Races To Flip ‘Nays’ For Trump Tax Bill Update (2300ET): A dramatic scene is unfolding on the House floor, as four Republicans have voted ‘nay’ on the Senate-revised version of the ‘Big Beautiful Bill’ – when House Speaker Mike Johnson could only afford three. According to Fox News‘ Chad Pergram; ‘A 216-216…

Transportation Secretary Sean Duffy Bans Rainbow Crosswalks Authored by Catherine Salgado via PJMedia.com, Transportation Secretary Sean Duffy struck a blow at radical LGBTQ activism as “Pride Month” ended. Duffy sent a letter to all 50 state governors, the D.C. mayor, and Puerto Rico’s governor, a letter which he also shared with The Daily Signal. Trump’s transportation…

China Erodes US AI Supremacy As Chatbot Race Defines Path To 2030 Dominance Former PBOC Deputy Governor Zhu Min recently warned of a coming tsunami of domestic AI innovation, predicting that China could see 100 breakthroughs of the same magnitude as DeepSeek over the next 18 months. The rise of DeepSeek—a powerful, low-cost alternative to OpenAI’s ChatGPT—has…

Judge Blocks Trump’s Order Barring Illegal Border Crossers From Claiming Asylum Authored by Jack Phillips via The Epoch Times, A federal judge on July 2 ruled against a Trump administration directive that blocked foreign nationals who cross the U.S.–Mexico border illegally from seeking asylum. The White House has touted historically low border crossings in recent…

Delhi Bans Fuel for Older Vehicles in Pollution Crackdown Starting July 1, Delhi has enforced a strict ban on refueling older vehicles as part of a broader effort to reduce air pollution, according to the Economic Times.  Under the new rule, petrol vehicles older than 15 years and diesel vehicles over 10 years are prohibited…

Thiel Joins Luckey & Lonsdale To Launch New Bank Aimed At Filling SVB Void For Stablecoins, AI, Defense & Advanced Manufacturing A group of high-profile tech investors, including military tech entrepreneur Palmer Luckey and venture capitalist Joe Lonsdale, is preparing to launch a new bank designed to serve the niche left behind by the collapse…

What’s Next For CDC’s Remade Vaccine Advisory Committee? Authored by Zachary Stieber via The Epoch Times (emphasis ours), The vaccine advisory committee remade by Health Secretary Robert F. Kennedy Jr. plans to look at multiple other vaccines, after it voted to advise officials to stop recommending influenza shots that contain mercury. Martin Kulldorff, the new…

India’s Hindustan Zinc Eyes Five Year Timeline To Move Into Rare Earth Metals India’s Hindustan Zinc is moving into rare earths, but commercial production could take up to five years, underscoring the hurdles of building a domestic supply chain to challenge China’s grip on the sector. “This (rare earth) is of strategic interest (to India),”…

Democrats, Animated By Loathing Of Trump, Are Driving Their Party To Self-Destruction Authored by Conrad Black via RealClearPolitics.com, The Democrats are now implacably self-destructive. They resemble nothing so much as a slowly capsizing ship, but show by their frenzied skullduggery that America is not in decline — the opposition is rotten and hopeless but it…

Fiji Says Chinese Military Base, Missiles Not Welcome In Pacific The tiny South Pacific archipelago country of Fiji has come out firmly against China establishing a military base in the Pacific Islands, according to a statement of Prime Minister Sitiveni Rabuka issued Wednesday. He emphasized that China has no need for such a provocatively located base…