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President Donald Trump has paved the way for Japan-based Nippon Steel to invest in U.S. steel, reversing his own opposition to the deal over national security concerns.
FLOKI bleeds 32% this month: 3 alarming indicators emerge AMBCrypto
Circle Internet Group CEO Jeremy Allaire reportedly said Friday (June 13) that the stablecoin issuer sees opportunities to partner with a wide range of companies. [contact-form-7] “It’s a tremendous opportunity as the world connects to this new form of currency on the internet,” Allaire told Bloomberg Television Friday in an interview. “We see tremendous opportunities to collaborate [...]The post Circle Sees ‘Tremendous Opportunity’ for Collaborations as Stablecoin Adoption Grows appeared first on PYMNTS.com.
Eli Lilly & Co. (NYSE:LLY) may be down over 8% in the past month and nearly 5% over the past five days, but JPMorgan analyst Chris Schott isn't backing off. In fact, he's doubling down.Zepbound's Momentum Keeps Eli Lilly In The LeadWith Zepbound continuing to dominate the GLP-1 obesity category and new catalysts on the horizon, JPMorgan sees Eli Lilly as still one of the top picks in the sector.Prescriptions for both Zepbound and Mounjaro are running ahead of expectations in the second quarter, positioning Eli Lilly to beat and raise guidance throughout 2025. Even with the CVS formulary change (moving away from Zepbound) putting ~200,000 patients at risk, says the analyst, Eli Lilly's market share — currently around 70-75% of new patients — and strong momentum suggest the company will ...Full story available on Benzinga.com
Novo Nordisk A/S (NYSE:NVS) announced Thursday that it will advance subcutaneous and oral amycretin into phase 3 development in weight management.Amycretin is developed for subcutaneous and oral administration.The decision to advance subcutaneous and oral amycretin into phase 3 is based on feedback received from regulatory authorities following end-of-phase 2 interactions for subcutaneous and oral amycretin in weight management.Novo Nordisk plans to initiate a phase 3 development program with amycretin for adults with overweight or obesity during the first quarter of 2026.Also Read: Novo Nordisk, Deep Apple Launch Drug Discovery Alliance For Weight Loss Oral TherapiesOral Amycretin Phase 1 trial evaluated the single-ascending dose and multiple-ascending doses for oral amycretin, up to 2 times ...Full story available on Benzinga.com
Calgary, Alberta--(Newsfile Corp. - June 13, 2025) - FluroTech Ltd. (TSXV: TEST.H) ("FluroTech" or the "Company") is pleased to announce that effective June 12, 2025, Eric Corbett has been appointed to the board of directors.Mr. Corbett is the Managing Director of Oakridge Securities Inc. which operates as a capital markets...
MP Materials Rockets 17% After Trump Admin Mulls Prioritizing U.S. Based Rare Earth Projects Yesterday MP Materials jumped as much as 17% to $29.96 —its highest intraday level since March—amid renewed government efforts to secure domestic rare earth supplies.The Trump administration is drafting a plan to invoke Cold War-era powers under the Defense Production Act (DPA) to prioritize and fund rare earth projects deemed critical to national security, according to Bloomberg.This includes financing for mining, processing, and downstream technologies to reduce U.S. dependence on China. A final strategy and timeline are still being developed.MP Materials, the only domestic producer of rare earths, is expected to benefit significantly. Deputy Defense Secretary Steve Feinberg is reportedly helping to secure additional funding for the Nevada-based company, which has already received millions from the Pentagon.Bloomberg writes that Defense Secretary Pete Hegseth recently told Congress that MP Materials “is a great example of a place where we can partner with industry,” while Feinberg is focused on sourcing rare earth supply.Interior Secretary Doug Burgum called the situation “a wake-up call for America,” warning, “We are so exposed, right now — precariously exposed — to China’s grip on not just the mining, but the processing,” which Beijing dominates with 85% global control. He said the current U.S. stockpile is “massively insufficient” and may require billions in new investment.Efforts have intensified since China restricted rare earth exports in April, pressuring U.S. stockpiles and supply chains for defense, automotive, and aerospace industries. At the National Energy Dominance Council, David Copley is leading efforts to coordinate proposals and funding options under the DPA and other tools.The White House and Pentagon did not immediately respond to requests for comment. MP Materials declined to comment.MP is one of just a few U.S. based rare earth pure plays, alongside names like USAR and UUUU. Tyler DurdenFri, 06/13/2025 - 10:45
Get some excellent storage for less during the summer season.
Kaup Heima hf. („Heimar“ eða „félagið“) á öllu hlutafé Grósku ehf. („Gróska“) og Gróðurhússins ehf. („Gróðurhúsið“) („viðskiptin“), sem tilkynnt var um 23. apríl sl., eru nú frágengin.
The acquisition by Heimar hf. ("Heimar" or the "Company") of all shares in Gróska ehf. (“Gróska”) and Gróðurhúsið ehf. (“Gróðurhúsið”) (the “Transaction”), which was initially announced on 23 April this year, has now been completed.
Clearing up the full balance early will save money on interest and wipe out debt.
WASHINGTON (AP) — Consumer sentiment increased in June for the first time in six months, the latest sign that Americans’ views of the economy have improved as inflation has stayed tame and the Trump administration has reached a truce in its trade fig
Meta is making a $14.3 billion investment in artificial intelligence company Scale and recruiting its CEO Alexandr Wang to join a team developing “superintelligence” at the tech giant
Louisiana Attorney General Liz Murrill plans to send a cease and desist letter to CVS for mass text messages sent to customers lobbying against legislation and is opening an investigation into whether the pharmaceutical giant improperly used customers’...
Watch These Oracle Price Levels as Stock Surges to Record High on Cloud Growth Outlook InvestopediaOracle stock touches all-time high after earnings beat Yahoo FinanceOracle shares pop 13% to record high on earnings beat, cloud optimism CNBCOracle Stock Jumps. Earnings Were Strong but This Was ‘Stunning’, Says Analyst. Barron'sOracle CEO Says OpenAI’s Stargate Venture ‘Not Formed Yet’ The Information
VANCOUVER, Columbia Británica, June 12, 2025 (GLOBE NEWSWIRE) -- ZenaTech, Inc. (Nasdaq: ZENA) (FSE: 49Q) (BMV: ZENA) ("ZenaTech"), una empresa de tecnología especializada en drones con inteligencia artificial (IA), Dron como un Servicio (DaaS), soluciones empresariales SaaS y computación cuántica, anuncia hoy que su filial ZenaDrone planea solicitar una patente y acelerar la implementación de la tecnología contra sistemas de aeronaves no tripuladas (Counter-UAS), que se integrará en la plataforma insignia de drones de la empresa, ZenaDrone 1000, en respuesta a una nueva directiva de política establecida por una orden ejecutiva. La tecnología contra sistemas de aeronaves no tripuladas (Counter-UAS) se refiere a herramientas o sistemas que pueden detectar, rastrear o mitigar drones no autorizados o peligrosos para proteger a las personas, la propiedad y el espacio aéreo.
PHILADELPHIA, June 12, 2025 /PRNewswire/ -- Titan CEO is pleased to announce Robert Mesmer, CEO of RMG Erectors & Constructors as a 2025 Philadelphia Titan 100 Hall of Fame recipient. The Titan 100 program recognizes Philadelphia's Top 100 CEOs & C-level executives. They are the area's...
SHANGHAI, June 13, 2025 /PRNewswire/ -- On June 11th, SNEC 2025 opened in Shanghai. CHINT made a heavy appearance with the main products of green energy industry, smart power comprehensive solutions, new business cultivation achievements, new scene applications and demonstration cases,...
U.S. stock futures slipped Thursday evening as tensions continued to flare in the Middle East, following Israel’s preemptive strike against Iran. Starting with the S&P 500 Futures, which trades at 5,959.25, down 1.49%, followed by Nasdaq Futures at 21,580.25, down 1.59%, and Dow Jones Futures down 1.36%, trading at 42,404.00, at the time of writing this.The futures markets dipped following Israel’s Defense Minister, Israel Katz declared a state of emergency, following the attack on Iran. Katz said, “Following the State of Israel's preemptive strike against Iran, a missile and drone attack against the State of Israel and its civilian population is expected in the immediate future,” according to CNBC.On Wednesday, President Donald Trump announced that all non-emergency U.S. personnel located at its bases and embassies in the Middle East will be evacuated, saying that it “could be a dangerous place.”See Also: Walmart Heiress Takes On Trump With ‘No Kings’ Ad: ...Full story available on Benzinga.com
Meta finalizes $14.3 billion investment in Scale AI, sources say, poaching CEO Wang ReutersScale AI's Alexandr Wang confirms departure for Meta as part of $14.3 billion deal CNBCScale AI Gets Meta Investment That Values It at More Than $29 Billion WSJIs Meta really spending $15 billion to hire a 28-year-old? Business InsiderMeta Taps Top Researchers From Google, Sesame for New AI Lab Bloomberg
This crucial corner of the energy market is at high risk from an all-out war between Israel and Iran — and it’s not oil MarketWatchGlobal oil prices soar after Israel attacks Iran BBCStocks Drop, Oil Surges as Israel Attacks Iran: Markets Wrap Bloomberg.comStocks tumble, oil soars as Israel's strike on Iran roils investors ReutersOil Prices Surge and Stock Markets Stumble After Israel’s Attack The New York Times
Israel launched a series of airstrikes in Iran early Friday, escalating the conflict between the two nations. A Boeing 787 Dreamliner carrying 242 people crashed in western India on Thursday, killing all on board but one passenger. U.S. stocks popped following a cooler-than-expected May producer price index. Asian stocks fell, while oil prices soared after Israel’s attacks on Iran.Israel launched a series of airstrikes in Iran early Friday local time, escalating the simmering conflict between the two nations. Israel said that it was targeting locations related to Iran’s nuclear program. Shortly after the strikes began, the country’s Defense Minister Israel Katz declared a state of emergency. Iran’s state-run media has reported multiple fatalities in the capital city, Tehran, including the death of the commander-in-chief of Iran’s Islamic Revolutionary Guard Corps, Hossein Salami.The strikes caused oil prices to jump more than 10% amid fears of a broader regional war. U.S. stock futures fell for the same reason, with Dow futures down more than 600 points. Asian stocks also fell.Meanwhile, tragedy struck Thursday when a London-bound Air India flight crashed soon after takeoff after departing from Ahmedabad, in western India. The accident involving a Boeing 787 Dreamliner carrying 242 passengers killed all but one person on board the plane. The crash had killed several people on the ground, Vidhi Chaudhary, a top state police officer, told Reuters, pushing the death toll higher.Following the accident, Boeing stocks tumbled 13%. Stocks of Boeing suppliers GE Aerospace and Spirit AeroSystems also took a hit, shedding 4% and 3%, respectively.Whether the jet crash is going to impact Boeing in the long run will depend on the investigation outcome. In an interview on CNBC’s “Squawk Box,” aviation expert and Boyd Group International President Mike Boyd said that investors shouldn’t make the assumption this is “another Max situation.” Boeing’s 737 MAX was grounded for more than a year after two fatal accidents involving the aircraft.What you need to know todayS&P 500 creeps closer to all-time high while Asian stocks fallMajor averages in the U.S. rose overnight, thanks to a cooler-than-expected May producer price index. The S&P 500 added 0.38%, ending at 6,045.26. The advance brings the broad market index less than 2% off from its February record high. The Nasdaq Composite gained 0.24% to close at 19,662.48. Meanwhile, the Dow Jones Industrial Average added 101.85 points, or 0.24%, settling at 42,967.62. Asia-Pacific markets were down Friday after Israel conducted a military strike on Iran, targeting its nuclear program, while Iran vowed to retaliate.India’s rocky path as an alternative to ChinaAmid the U.S.-China trade war, companies are increasingly pivoting toward India for their manufacturing needs as an alternative to China considering its large, young labor force, and manufacturing incentives like the production-linked incentive scheme. But many problems plague the path to India’s manufacturing boom, such as logistical bottlenecks, regulatory red tape, and patchy infrastructure in many regions.U.S. May producer price index cooler than expectedThe May producer price index, a measure of final demand prices in the U.S. economy, rose just 0.1% for the month after decreasing 0.2% in April. Economists surveyed by Dow Jones had been expecting a 0.2% increase. The softer reading helped boost major stock indexes, while bond yields eased, indicating improving investor sentiment. Earlier this week, the U.S. May consumer inflation report also came in cooler than anticipated.Oracle shares soar after earnings beatShares of Oracle surged 13% after the company reported fiscal fourth-quarter results that beat on the top and bottom lines and indicated more cloud growth ahead. CEO Safra Catz said on a conference call that thanks to AI demand, cloud infrastructure revenue should increase more than 70% in the 2026 fiscal year, up from growth of 52% in the quarter. Oracle’s rally lifted the tech sector, boosting the S&P 500.[PRO] Oracle could rally another 70%: investor Victoria GreeneOracle shares may be rallying on its latest earnings beat, but it still has much higher to go, according to Victoria Greene, chief investment officer at G Squared Private Wealth. Although the stock is already up 20% year to date, Greene thinks it isn’t too late for investors to get in on the action. “The train is leaving the station, but you’ve got to jump on the stock,” she said. “I see this as a $300 stock in the next 12 months.”Read more here. And finally...Pallava Bagla | Corbis News | Getty ImagesIndian Rare Earths extracts rare earth elements from beach sands in Kerala, India.India moves to tap its rare earth reserves. Experts say it could become an alternative to ChinaIndia, like many countries, is facing China’s restrictions on rare earth exports — and it wants to develop its own domestic supplies. Experts say it could become an important alternative to China for partners such as the U.S., but will require much more public and private investment in the sector.Given its considerable reserves, India is “poised to play a key role in building a more diversified global rare earths supply chain,” Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies, told CNBC. Indian officials are evaluating how India Rare Earths, a government-owned company, can be leveraged to increase rare earth magnet production, sources told CNBC-TV18.
Professional and business services, the industry that represents “white collar” and middle and upper-class, educated workers, hasn’t experienced much hiring activity lately. However, economists have said that the decline in white-collar job openings is more driven by structural issues in the economy rather than artificial intelligence technology taking people’s jobs. “This is more of an economic story and less of an AI disruption story, at least so far,” said Cory Stahle, an economist at Indeed, a job search site.While there hasn’t been much hiring for so-called “white collar” jobs, the contraction is not because of artificial intelligence, economists say. At least, not yet.Professional and business services, the industry that represents white-collar roles and middle and upper-class, educated workers, hasn’t experienced much hiring activity over the past two years.In May, job growth in professional and business services declined to -0.4%, slightly down from -0.2% in April, according to the Bureau of Labor Statistics. In other words, the sector has been losing job opportunities, according to Cory Stahle, an economist at job search site Indeed.Meanwhile, industries like health care, construction and manufacturing have seen more job creation. In May, nearly half of the job growth came from health care, which added 62,000 jobs, the bureau found.More from Personal Finance:Here’s what’s happening with unemployed Americans — in five chartsThe pros and cons of a $1,000 baby bonus in ‘Trump Accounts’Social Security cost-of-living adjustment may be 2.5% in 2026However, economists have said that the decline in white-collar job openings is more driven by structural issues in the economy rather than artificial intelligence technology taking people’s jobs. “We know for a fact that it’s not AI,” said Alí Bustamante, an economist and director at the Roosevelt Institute, a liberal think tank.Indeed’s Stahle agreed: “This is more of an economic story and less of an AI disruption story, at least so far.”Artificial intelligence is still in early stagesThere are a few reasons AI is not behind the declining job creation in white-collar sectors, according to economists.For one, the decline in job creation has been happening for years, Bustamante said. In that timeframe, AI technology “was pretty awful,” he said.What’s more, the technology is even now still in early stages, to the point where the software cannot execute key skills without human intervention, said Stahle.A 2024 report by Indeed researchers found that of the more than 2,800 unique work skills identified, none are “very likely” to be replaced by generative artificial intelligence. GenAI creates content like text or images based on existing data.Across five scenarios — “very unlikely,” “unlikely,” “possible,” “likely” and “very likely” — about 68.7% of skills were either “very unlikely” or “unlikely” to be replaced by GenAI technology, the site found. “We might get to a point where they do, but right now, that’s not necessarily looking like it’s a big factor,” Stahle said. ‘Jobs are going to transform’While AI has yet to replace human workers, there may come a time where the technology does disrupt the labor force. “Certainly, jobs are going to transform,” Stahle said. “I’m not going to downplay the potential impacts of AI.”Stahle said that openings for consulting jobs focused on implementing generative AI have been rising. Over the past year, management consulting roles with AI language accounted for 12.4% of GenAI postings, showing signs of growing demand, per a February report by Indeed.A separate report by the World Economic Forum in January forecasts that by 2030, the new technology will create 170 million new jobs, or 14% of the current total employment.However, that growth could be offset by the decline in existing roles. The report cites that about 92 million jobs, or 8% of the current total employment, could be displaced by AI technology.For knowledge-based workers whose skills may overlap with AI, consider investing in developing skills on how to use AI technology to stay ahead, Stahle said.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.The base shelf prospectus and the prospectus supplement are accessible on SEDAR+. Any amendment to the foregoing documents will be accessible within one business day on SEDAR+.MONTREAL, June 12, 2025 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX:AYA, OTCQX:AYASF) ("Aya" or the "Company") is pleased to announce that it has filed a prospectus supplement (the "Supplement") to its short form base shelf prospectus dated June 10, 2025 (the "Base Prospectus") with respect to its previously announced bought deal equity financing to purchase, on a bought deal basis, 9,363,300 common shares in the capital of the Company (the "Shares"), at a price of $13.35 per Share (the "Issue Price") for gross proceeds of $125,000,055 (the "Offering").The Supplement has been filed with the securities regulatory authorities in each of the provinces of Canada.The Offering is led by Desjardins Capital Markets ("Desjardins"), as sole bookrunner, together with a syndicate of underwriters including National Bank Financial Inc. and BMO Capital Markets, together with Desjardins as co-lead underwriters (collectively, the "Underwriters").The Company has granted the Underwriters an over-allotment option to purchase up to an additional 15% of the Shares at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering (the "Over-Allotment Option"). If the Over-Allotment Option is exercised in full, $18,750,008 additional proceeds will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be approximately $143,750,063.The Company intends to use the net proceeds of the Offering to advance its business objectives including for the advancement of its exploration program at Boumadine, the exploration program at Zgounder Regional, and for working capital and general corporate purposes.The closing date of the Offering is scheduled to be on or about June 18, 2025, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.Access to the Supplement, the corresponding Base Prospectus and any amendment thereto are provided in accordance with ...Full story available on Benzinga.com
China's dominance over critical minerals in global supply chains was a powerful bargaining chip in trade talks between Beijing and Washington that concluded with both sides saying they have a framework to pursue a deal.China has spent decades building the world's main industrial chain for mining...
Northstone, which has its Keld development in Barrowford, has been named as the number one developer for first-time buyers in the UK in the latest HomeViews rankings; an independent platform from Rightmove powered entirely by verified homeowner reviews.
Fashion company Bonprix will implement Trustly’s account-to-account (A2A) payment solution in Finland, Sweden and Norway. [contact-form-7] With this solution, which will be implemented in collaboration with omnichannel payment service provider Computop, Bonprix aims to offer a simpler payment experience and reduce the number of abandoned purchases, the companies said in a Thursday (June 12) press [...]The post Fashion Company Bonprix to Implement Trustly Account-to-Account Payments appeared first on PYMNTS.com.
Exchange-traded funds (ETFs) and mutual funds are common ways to invest in a diversified basket of stocks or bonds.
BC Ferries union upset Chinese company was hired to build new vessels CTV NewsKirk LaPointe: BC Ferries deal with China torpedoes government's own messaging Business in VancouverWhat to know about the Weihei shipyard chosen by B.C. to build four major vessels Vancouver SunBC Ferries deal with Chinese shipyard makes waves in Ottawa National PostBC Ferries says state-owned Chinese builder clear choice for new vessels despite trade war The Globe and Mail
Statistics Canada reports the ratio of household credit market debt to disposable income rose to 173.9 per cent
PulteGroup (NYSE:PHM) has outperformed the market over the past 15 years by 5.49% on an annualized basis producing an average annual return of 17.38%. Currently, PulteGroup has a market capitalization of $20.75 billion. Buying $1000 In PHM: If an ...Full story available on Benzinga.com
Adobe Inc. (NASDAQ:ADBE) will release earnings results for the second quarter, after the closing bell on Thursday, June 12.Analysts expect the San Jose, California-based company to report quarterly earnings at $4.96 per share, up from $4.48 per share in the year-ago period. Adobe projects to report quarterly revenue at $5.79 billion, compared to $5.31 billion a year earlier, according to data from Benzinga Pro.The company beat analyst estimates in the last fiscal quarter and has beaten estimates in eight of the last 10 quarters overall.Adobe shares fell 0.8% to close at $412.84 on Wednesday.Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst ...Full story available on Benzinga.com
Stock Market Today: Indexes Mixed After Trump Tariff News But Microsoft Gains (Live Coverage) Investor's Business DailyS&P 500 rebounds as Oracle leads tech stocks higher: Live updates CNBCUS stocks open lower as Trump’s tariff threat sours sentiment; Boeing down 4.5%, Oracle jumps 11% MoneycontrolStock Market Today: Dow Opens 200 Points Lower; Dollar Drops After Trump Revives Tariff Threats — Live Updates WSJStock market today: S&P 500, Nasdaq little changed amid renewed tariff threats, Boeing stock weighs on Dow Yahoo Finance
PITTSBURGH, June 12, 2025 /PRNewswire/ -- "People are often preoccupied and often leave their phones behind. I wanted to create a quick way to alert a person so they can retrieve their phone before walking away," said an inventor, from Amarillo, Texas, "so I invented the PHONE FINDER. My...
Fan Expo, which acquired VidCon from Paramount last year, is already thinking about how to grow the brand: "We want to bring VidCon to the world."
NEW YORK, June 12, 2025 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY") (NYSE: BK), a global financial services company, today announced that Chief Executive Officer Robin Vince was unanimously elected by the Board of Directors ("the Board") to the additional position of...
The greenback hasn’t been this weak in over two years, as mounting evidence of disinflation and cracks in the labor market stripped away its appeal, prompting a louder call from economists for the Federal Reserve to cut interest rates.The U.S. dollar index—a trade-weighted gauge measuring dollar strength broadly tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP)—dropped to 97.60 on Thursday, the lowest since late March 2022.The slide came after a one-two punch of economic reports showed inflation cooling among consumers and producers while jobless claims surged to multi-year highs.Inflation Broadly Undershoots ForecastsThursday's data from the Bureau of Labor Statistics revealed the Producer Price Index rose 2.6% in May from a year earlier, matching expectations but reflecting only a modest rise from April's revised 2.5%. On a monthly basis, PPI increased just 0.1%, below the 0.2% forecast.Core PPI, which strips out food and energy prices, cooled to 3.0% year-over-year — its lowest reading since August 2024 — and posted a minimal 0.1% monthly gain, missing the 0.3% estimate. The figures indicate that inflationary pressures in the production pipeline remain soft, despite tariff concerns.Released a day earlier, the Consumer Price Index for May rose 2.4% annually, a slight uptick from April's 2.3% ...Full story available on Benzinga.com
Miami, Florida--(Newsfile Corp. - June 12, 2025) - Digital Silk, an award-winning agency focused on creating brand strategies, custom websites and digital marketing campaigns, has launched a new purpose-led digital platform for Project Fire Buddies. This non-profit organization partners with fire departments across the U.S. to bring joy to children...
Trade euphoria fades as early gains in Hong Kong, China stocks fail to hold ground. Vague terms and tech silence cloud outlook.
Mariana Zobel de Ayala of Ayala Corporation says expanded public-private partnerships in infrastructure will be critical to achieving the Philippine government’s goal of boosting tourism’s share of the economy.
Stock futures fell early Thursday after the S&P 500 saw its first negative session in four.S&P 500 futures traded down 0.37%, while Nasdaq 100 futures were down 0.29%. Futures tied to the Dow Jones Industrial Average were also lower by 257 points, or 0.6%.In extended trading, shares of Oracle surged more than 7% after its fiscal fourth-quarter results beat on the top and bottom lines. The company also indicated more cloud growth ahead, saying in a statement that cloud infrastructure revenue will rise by more than 70% in fiscal 2026, up from a 50% growth rate in the prior fiscal year.Wednesday marked a losing session on Wall Street, with the S&P 500 snapping its three-day win streak, as did the Nasdaq Composite. But the moves were slight. The broad market index fell about 0.3%, while tech-heavy Nasdaq dropped 0.5%. The Dow Jones Industrial Average was flat. While the day’s losses put the S&P 500 a bit further away from reaching a new record high, the index is also still just more than 2% below its late February record.Those moves come after consumer prices rose less than expected in May, as the consumer price index increased 0.1% for the month. That’s less than the Dow Jones forecast for 0.2%. Core CPI, which excludes food and energy prices, also increased less than expected.“I don’t think the market has a lot of faith that we’re not going to see at least a little bit higher inflation,” Scott Wren, senior global market strategist at Wells Fargo, told CNBC’s “Closing Bell” Wednesday. “With all the things going on, the economy slowing, earnings growth likely to slow, lots of trade negotiations to still work through, is there really a good reason to take a run at the record high? I don’t know about that. It makes a lot of sense to me that we’d be choppy and maybe see a little downside here.”Investors are now looking ahead to May’s reading of the producer price index, due out at 8:30 a.m. ET on Thursday. Economists polled by Dow Jones are expecting the index to show a gain of 0.2% for the period. Subtracting out food and energy, core PPI is expected to show growth of 0.3% on the month.The Street is also waiting for more developments on trade, especially between the U.S. and China, as talks between the two countries have been a focal point this week. While officials reached an agreement in London, the deal still awaits approval from U.S. President Donald Trump and Chinese President Xi Jinping.Trump said in a post on Truth Social earlier Wednesday that “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%.” However, Commerce Secretary Howard Lutnick later said that U.S. levies on goods from China won’t change from their current levels.Rising tensions between the U.S. and Iran will also be in focus. U.S. crude oil futures jumped more than 4% on Wednesday after Trump expressed doubt that the two countries could reach a nuclear deal.Bessent signals possible tariff pause extension for countries ‘negotiating in good faith’Treasury Secretary Scott Bessent suggested Wednesday that the Trump administration could extend the 90-day pause on reciprocal tariffs for countries that show “good faith” in trade talks.Bessent said at a hearing before the House Ways and Means Committee that the U.S. has 18 “important trading partners” and that the administration is “working toward deals” with those countries.“It is highly likely,” he said, that for those countries and trading blocs, such as the European Union, “who are negotiating in good faith,” the U.S. would “roll the date forward to continue good faith negotiations.”“If someone is not negotiating, then we will not,” he continued.President Donald Trump’s tariff pause is set to expire on July 9.— Erin DohertyOracle shares jump after earningsShares of Oracle rose more than 7% in extended trading Wednesday on the heels of the software maker’s better-than-expected results for the fiscal fourth quarter.Oracle posted adjusted earnings of $1.70 per share, while analysts surveyed by LSEG had penciled in $1.64 per share. The company’s revenue of $15.9 billion for the period also topped the consensus estimate of $15.59 billion.The move comes as the stock has outperformed the broader market in recent months, gaining more than 17% in the past month and more than 22% in the last three.— Jordan Novet, Sean ConlonStock futures open little changed on WednesdayU.S. stock futures traded around the flatline on Wednesday night.S&P 500 futures fell 0.1% just after 6:00 p.m. ET, while Nasdaq 100 futures declined about 0.2%. Futures tied to the Dow Jones Industrial Average also pulled back 50 points, or 0.1%.— Sean Conlon
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS/DALLAS, June 11, 2025 /CNW/ - Petro-Victory Energy Corp. (TSXV:VRY) ("Petro-Victory" or the "Company") announces that it has borrowed an aggregate of US$350,000 (the "Loans") and issued unsecured promissory notes to Thomas Cooper, a director of the Company, and to an arm's length third party (collectively, the "Lenders"). The Loans have a term of one year and bear interest at an annual rate of 14% per annum until maturity and 18% per annum thereafter. The Lenders will be issued an aggregate of 685,350 bonus warrants (the "Warrants") in connection with the Loans, with each Warrant being exercisable at CAD$0.70 per common share on or before June 2, 2026. The Loans and issuance of Warrants remain subject to TSX Venture Exchange ("TSXV") final acceptance. The Loan from Thomas Cooper in the aggregate amount of Full story available on Benzinga.com
NAIROBI, Republic of Kenya and NEWPORT BEACH, Calif., June 11, 2025 /PRNewswire/ -- MindHYVE.ai, in partnership with DV8 Infosystems and KICTANet, has entered into a Memorandum of Understanding (MoU) to support the strategic co-development of the Republic of Kenya's National Artificial Intelligence Policy. This collaboration formalizes a shared commitment to ethical, sovereign, and forward-compatible AI governance. It reflects Kenya's growing stature as a leader in responsible AI development and showcases the region's capacity to shape global AI policy architecture.Partnership OverviewThe MoU establishes a structured alliance between three institutions:MindHYVE.ai - A Newport Beach–based provider of advanced artificial intelligence technologies, including large-scale reasoning models, domain-specific AI agents, and swarm-intelligent orchestration systems. MindHYVE.ai is internationally recognized as the pioneer of agentic AGI, a paradigm that fuses decentralized intelligence, ethical alignment, and cognitive adaptability at national and enterprise scale.DV8 Infosystems - The official orchestration and systems integration partner of MindHYVE.ai. DV8 designs and deploys agentic AGI infrastructures through its suite of Ops AI systems orchestrated by swarm intelligence and tailored for government transformation, regulatory alignment, and real-world integration of multi-agent intelligence systems.KICTANet - Full story available on Benzinga.com
Oklo Shares Surge 29% After DOD Contract To Power Air Force Base Oklo is starting to develop a real knack for catching short sellers offsides...In what is one of what we believe will be many similar announcements, Oklo shares surged 29% on Wednesday after the company was named the intended awardee for a Department of Defense project to deliver clean energy to Eielson Air Force Base in Alaska.The Defense Logistics Agency Energy issued a Notice of Intent to Award (NOITA), designating Oklo as the preferred provider following a competitive evaluation process.Under the proposed agreement, Oklo will design, build, own, and operate an Aurora powerhouse—a microreactor that provides both electricity and heat—at the remote military base.The project is part of the Department of the Air Force’s microreactor pilot aimed at improving energy resilience and reliability at national security facilities. The Aurora reactor uses fast reactor technology and is designed to operate independently from the grid, which is critical for remote sites like Eielson.CEO Jacob DeWitte said the NOITA demonstrates continued confidence in Oklo’s ability to deliver reliable energy solutions for mission-critical infrastructure. The deal represents a major step forward in commercializing Oklo’s technology and highlights growing federal support for next-generation nuclear systems.Investor response was swift, with the stock seeing its biggest one-day gain since the company went public, driven by optimism about Oklo’s ability to secure long-term revenue through government-backed deployments.Recall, as we noted back in May, Oklo is positioning itself for a potentially favorable regulatory environment. The company is in a pre-application readiness process with the NRC and plans to submit a formal license for its expanded 75-MW design by Q4 2025. It’s targeting late 2027 or early 2028 for initial operations at its Idaho National Laboratory site.Oklo is one of eight companies eligible for the Pentagon’s Advanced Nuclear Power for Installations program and is investing in fuel recycling capabilities.The company also holds about 14 GW of nonbinding agreements with data centers and industrial users. The recent departure of Sam Altman from the board, due to a potential conflict of interest with OpenAI, clears the way for future commercial partnerships.Oklo maintains close ties to the Department of Defense, primarily through CEO Jacob DeWitte, who has participated in high-level government events related to nuclear policy alongside defense officials.The company’s board has also included retired Lieutenant General John Jansen, further reflecting its alignment with national security interests as it pursues military microreactor deployments.Short sellers had targeted Oklo earlier this year, citing it as an overvalued "story stock" with no regulatory-approved design, no current revenue, and underestimated timelines and costs—labeling the company’s projections “beyond optimistic” and estimating it needs billions in additional capital.Oklo has used the surge in its stock price to raise hundreds of millions in additional capital. This could easily give the company the better part of a decade in cash to operate at its current burn rate. Meanwhile, about 12–15 million shares are still currently short—roughly 10–12% of the float. Tyler DurdenWed, 06/11/2025 - 22:40
FORT MACLEOD — Alberta Premier Danielle Smith and three of her ministers got an earful from southern Alberta locals at a rowdy, hours-long town hall to discuss the province's coal policy.
About 15% of taxes every year aren't collected, the IRS estimates. Here’s what makes up that "tax gap" -- and how simply auditing more wealthy people could fill it.
U.S. Treasury yields were muted on Thursday, as the White House’s trading relationships and the American economy remained firmly in focus.The 10-year Treasury yield was marginally higher during early morning trade, down by less than 1 basis point. Yields on 2-year, 5-year and long-dated Treasurys were also little changed.One basis point equals 0.01%. Bond yields and prices move in opposite directions.Thursday morning’s bond moves came after the Trump administration hinted that the 90-day pause on “reciprocal” tariffs could be extended for some trading partners. With the July 9 deadline approaching, Treasury Secretary Scott Bessent said an extension could be granted to 18 major trading partners provided they show “good faith” in ongoing negotiations.Investors are also still digesting Washington and Beijing’s framework trade agreement, negotiated in London earlier this week. On Wednesday, President Donald Trump said it was a “done” deal which would see China supply rare earth minerals while the U.S. levies 55% tariffs on the world’s second-biggest economy.Markets are also awaiting the latest U.S. producer price index, due for release at 8:30 a.m. ET, and data on weekly jobless claims.— CNBC’s Erin Doherty contributed to this report.
LONDON, June 11, 2025 /PRNewswire/ -- As part of its expanding global mission, the Vantage Foundation proudly participated in the UK-GCC Private Capital Alliance Summit 2025, supporting Vantage Connect's sponsorship of the event while advancing its own goals of fostering sustainable social impact. Held on 28 May 2025, the summit provided a high-profile platform for dialogue and collaboration among institutional investors, family offices, and corporate leaders from both the UK and Gulf Cooperation Council (GCC) regions.Vantage Foundation provided strategic support during the summit – reinforcing the idea that financial growth and social responsibility go hand in hand. The presence of the Foundation not only complemented Vantage Connect's institutional initiatives ...Full story available on Benzinga.com
Traditional gender norms may be to blame for husbands get more stressed the more money their wives earn, a researcher says.
TOKYO (AP) — Asian shares were trading mixed early Thursday after Wall Street’s rally stalled as investors appeared not to react much to the results of the latest round of China-U.S. trade talks. U.S. futures slipped while oil prices rose. Japan's Nikkei 225 lost 0.7% to 38,160.80. Hong Kong’s Hang Seng sank 0.7% to 24,206.69, [...]
BRIDGEWATER, N.J., June 11, 2025 /PRNewswire/ -- Insmed Incorporated (Nasdaq: INSM), a people-first global biopharmaceutical company striving to deliver first- and best-in-class therapies to transform the lives of patients facing serious diseases, today announced that it priced an...
The Nevada Gaming Control Board also banned the trainer from participating in Nevada horse racing for 15 years.
Disney and Universal Sue A.I. Firm for Copyright Infringement The New York TimesDisney And NBCUniversal Sue AI Company Midjourney For Copyright Infringement DeadlineDisney, NBCU sue Midjourney over copyright infringement AxiosDisney, Universal sue image creator Midjourney for copyright infringement ReutersDisney, Universal Launch AI Legal Battle, Sue Midjourney Over Copyright Claims The Hollywood Reporter
The suit, against Midjourney, is the first time major Hollywood companies have sued over A.I.-generated images.
RECALL: IKEA product recalled in Canada over safety concern INsaugaIkea kitchen tool sold in Canada recalled Inside HaltonIKEA recalls IKEA 365+ VÄRDEFULL Garlic press, black YahooIKEA recalls garlic press over possibility of small metal pieces detaching Durham Radio NewsIkea recalls garlic presses over metal detachment risk eKathimerini.com
Nvidia and Perplexity partnered to facilitate the deployment of sovereign artificial intelligence models across Europe and the Middle East. [contact-form-7] The project will aid in the deployment of AI models that reflect the regions’ languages and cultures and store the data locally, the companies said in separate Wednesday (June 11) announcements. The first European models [...]The post Nvidia and Perplexity to Facilitate Sovereign AI Models in Europe and Middle East appeared first on PYMNTS.com.
The International Chamber of Shipping (ICS) released its Maritime Barometer Report 2024-2025 today in Athens, revealing a deepening concern among maritime leaders about their ability to navigate an increasingly complex...
According to Pixalate's research, ‘Dragon City: Mobile Adventure’ on Google Play Store generated an estimated $266K in open programmatic ad revenue in Mexico, and ‘Candy Crush Saga’ led on Apple App Store in Mexico with $205K in estimated open programmatic ad revenue According to Pixalate's research, ‘Dragon City: Mobile Adventure’ on Google Play Store generated an estimated $266K in open programmatic ad revenue in Mexico, and ‘Candy Crush Saga’ led on Apple App Store in Mexico with $205K in estimated open programmatic ad revenue
Voyager raises $383 million from upsized IPO SpaceNewsSpace and defense tech firm Voyager raises US$382.8M in U.S. IPO CTV NewsVoyager Technologies valued at $3.8 billion as shares more than double in NYSE debut Yahoo FinanceNYSE Content Advisory: Pre-Market update + Voyager Technologies, Ategrity to debut at NYSE PR Newswire CanadaSpace Firm Voyager Technologies Surges 139% After Upsized IPO Bloomberg.com
The Dow Jones Industrial Average ticked up 59 points, or 0.1%, by approximately 10:15 a.m. ET.
ATLANTA, June 11, 2025 /PRNewswire/ -- Vaycaychella, Inc. (OTC:VAYK) ("VAYK") management announced today the launch of a campaign to acquire time-share properties through non-cash deals. The company has reached an MOU to acquire $90,000 worth of timeshare in a non-cash deal, with the potential to increase the deal size to $9.0 million.Timeshares Resold at Deep DiscountsTimeshares are often underperforming assets for most current owners. Many individuals purchase timeshares during vacation trips, mistakenly believing they will frequently return. However, their initial excitement often fades, leading to underutilization of their timeshare rights. Additionally, they lack the time or expertise to resell their annual rights, while still paying maintenance fees that may increase annually."For these reasons, timeshare rights are resold for cash at deep discounts," said Jason Armstrong, Director of the Board at VAYK. "According to a major resale broker, in 2024, a top Disney Vacation Club (DVC) resort like Disney's Grand Floridian Resort and Spa costs $230 per point when purchased directly from Disney. However, it was resold by this broker at an average price of $151 per point. In other words, it is more than one-third cheaper to resell timeshare."Mutually Beneficial Non-Cash Deals at Fair ValueFull story available on Benzinga.com
Asian stocks rose Wednesday as investors welcomed a China-US agreement to lower trade tensions that stoked hopes the economic superpowers will eventually reach a broader tariff deal. After two days of high-profile, closely watched talks in London, the two sides said they had set up a framework to move towards a pact, following negotiations in [...]The post Asian equities rally after China-US framework on trade appeared first on Digital Journal.
Michael Saylor rejects crypto winter fears, says Bitcoin ‘going to $1M’ CointelegraphBitcoin To $1 Million? Michael Saylor Laughs Off Crypto Winter Fears TradingView'Financial Gibberish': Top Short Seller Slams Bitcoin Advocate Saylor U.TodayMichael Saylor: The Bear Market Is Not Coming Back And Bitcoin Is Going To $1 Million Bitcoin MagazineHow Will XRP Benefit From Bitcoin Crossing $110,000 to Form a New High? BeInCrypto
This is CNBC’s live blog covering European markets.Zara owner Inditex flags slowing summer sales as quarterly revenues miss expectationsMike Kemp | In Pictures | Getty ImagesA shopper carrying two large bags from clothing retailer Zara on Oxford Street in London, U.K., on Feb. 5, 2024.Zara owner Inditex on Wednesday posted weaker-than-expected quarterly sales while flagging a slower start to the summer season than last year amid broader economic uncertainty.The Spanish retailer reported revenues of 8.27 billion euros ($9.44 billion) in the fiscal first quarter covering Feb. 1 to April 30, slightly shy of the 8.39 billion euros forecast by LSEG analysts.Net income came in at 1.3 billion euros for the quarter, compared to the 1.32 billion euros analysts estimated.— Karen GilchristU.S.-China trade agreement: What you need to knowBloomberg | Bloomberg | Getty ImagesU.S. Commerce Secretary Howard Lutnick speaks to members of the media while arriving for trade talks at Lancaster House in London, UK, on Tuesday, June 10, 2025.The U.S. and China have reached an agreement on trade, representatives from both sides said after a second day of high-level talks in London, with the deal now awaiting a nod from the leaders of the two countries.“We have reached a framework to implement the Geneva consensus and the call between the two presidents,” U.S. Commerce Secretary Howard Lutnick told reporters.Chinese restrictions on rare-earth exports to the U.S. are a “fundamental part” of the latest agreement and the U.S. expects the issue “will be resolved in this framework implementation,” Lutnick said.He indicated U.S. restrictions on sales of advanced tech to China in recent weeks would be rolled back as Beijing approves rare-earth exports.Read the full story here.— Evelyn ChengHere are the opening callsMike Kemp | In Pictures | Getty ImagesSkyline view of the City of London financial district from the viewpoint in Greenwich Park in London, United Kingdom. Good morning from London, welcome to CNBC’s live blog covering European financial market action as well as the latest regional and global business news, data and earnings.Futures data from IG suggests London’s FTSE will open 14 points lower at 8,852, Germany’s DAX down 105 points at 23,925, France’s CAC 40 down 9 points at 7,788 and Italy’s FTSE MIB 95 points lower at 40,082.Global markets are having a mixed reaction to news that U.S. and Chinese officials reached a tentative consensus on trade after a second day of talks in London. The negotiators will now seek approval on the framework from the U.S. and Chinese presidents.Asia-Pacific markets climbed overnight on the apparent breakthrough, but U.S. stock futures inched lower, with investors also looking ahead to May inflation data.— Holly EllyattWhat to keep an eye on todayEric Thayer | Bloomberg | Getty ImagesAn Aldi supermarket in Alhambra, California, in 2024.Global markets will be keeping a close eye on the latest U.S. inflation report for May.Economists polled by Dow Jones expect a 0.2% month-over-month increase, while the headline consumer price index is anticipated to have grown 2.4% on an annual basis. Hotter-than-expected data could spook investors who are already on edge over inflationary pressures and the trajectory of Federal Reserve rate cuts.Traders will be keeping an eye on the Nvidia keynote address at the VivaTech conference in Paris on Wednesday, as well as Goldman Sachs’ annual European Financials Conference.Meanwhile, U.K. investors will be looking out for the government’s “Spending Review,” in which it sets out day-to-day spending and investment plans for all government departments. Earnings are set to come from retail giant Inditex.— Holly Ellyatt
LEBANON, Tenn., June 10, 2025 /PRNewswire/ -- Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (NASDAQ:CBRL), today announced the upsizing and pricing of its offering of $300.0 million aggregate principal amount of 1.75% convertible senior notes due 2030 (the "notes") in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The aggregate principal amount of the notes to be issued in the offering was increased to $300.0 million from the previously announced $275.0 million. Cracker Barrel also granted the initial purchasers of the notes an option to purchase, for delivery within a period of 13 days from, and including, the date the notes are first issued, up to an additional $45.0 million aggregate principal amount of notes. The issuance and sale of the notes are scheduled to settle on or about June 13, 2025, subject to customary closing conditions.The notes will be senior, unsecured obligations of Cracker Barrel and will accrue interest at a rate of 1.75% per annum, payable semi-annually in arrears on March 15 and September 15 of each year, beginning on March 15, 2026. The notes will mature on September 15, 2030, unless earlier converted, repurchased or redeemed. Before March 15, 2030, the notes will be convertible by the noteholders only under certain circumstances and during certain periods, and irrespective of those circumstances, will be convertible by the noteholders on or after March 15, 2030 until the close of business on the second scheduled trading day immediately preceding the maturity date. The initial conversion rate will be 13.8455 shares of Cracker Barrel's common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $72.23 per share of Cracker Barrel's common stock, which represents a premium of approximately 32.5% over the last reported sale of $54.51 per share of Cracker Barrel's common stock on June 10, 2025). The conversion rate is subject to adjustment upon the occurrence of certain events. Cracker Barrel will settle conversions by paying or delivering, as applicable, cash and, if applicable, shares of its common stock at Cracker Barrel's election, based upon the then-applicable conversion rate.The notes will also be redeemable, in whole or in part, for cash at Cracker Barrel's option at any time on or after September 15, 2028 and on or before the 30th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Cracker Barrel's common stock exceeds 130% of the conversion price for a specified period of time and certain other conditions are satisfied. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.If a "fundamental change" (as defined in the indenture for the notes) occurs, then, subject to a limited exception, noteholders may require Cracker Barrel to repurchase their notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date.Cracker Barrel estimates that the net proceeds from the offering will be approximately $290.1 million (or approximately $333.9 million if the initial purchasers fully exercise their option to purchase additional notes), after deducting the initial purchasers' discounts and commissions and Cracker Barrel's estimated offering expenses. Cracker Barrel intends to use approximately $14.3 million (or approximately $16.5 million if the initial purchasers fully exercise their option to purchase additional notes) of the net proceeds from this offering to pay the cost of entering into the capped call transactions described below. In addition, Cracker Barrel intends to use approximately $145.9 million of the net proceeds to repurchase $150.0 million aggregate principal amount of its outstanding 0.625% convertible senior notes due 2026 (the "2026 convertible notes") (the "2026 convertible notes") concurrently with the offering of the notes in separate, privately negotiated transactions effected through one of the initial purchasers of the notes or its affiliate, as Cracker Barrel's agent. Cracker Barrel intends to use any remaining net proceeds for general corporate purposes, which may include the redemption or repayment of any of Cracker Barrel's existing outstanding indebtedness, including indebtedness outstanding under its revolving credit facility.In connection with the pricing of the notes, Cracker Barrel entered into privately negotiated capped call transactions with certain of the initial purchasers and/or their respective affiliates and certain other financial institutions (the "option counterparties"). The capped call transactions are generally intended to reduce or offset potential dilution to Cracker Barrel's common stock upon any ...Full story available on Benzinga.com
This is CNBC’s live blog covering European markets.Zara owner Inditex flags slowing summer sales as quarterly revenues miss expectationsMike Kemp | In Pictures | Getty ImagesA shopper carrying two large bags from clothing retailer Zara on Oxford Street in London, U.K., on Feb. 5, 2024.Zara owner Inditex on Wednesday posted weaker-than-expected quarterly sales while flagging a slower start to the summer season than last year amid broader economic uncertainty.The Spanish retailer reported revenues of 8.27 billion euros ($9.44 billion) in the fiscal first quarter covering Feb. 1 to April 30, slightly shy of the 8.39 billion euros forecast by LSEG analysts.Net income came in at 1.3 billion euros for the quarter, compared to the 1.32 billion euros analysts estimated.— Karen GilchristU.S.-China trade agreement: What you need to knowBloomberg | Bloomberg | Getty ImagesU.S. Commerce Secretary Howard Lutnick speaks to members of the media while arriving for trade talks at Lancaster House in London, UK, on Tuesday, June 10, 2025.The U.S. and China have reached an agreement on trade, representatives from both sides said after a second day of high-level talks in London, with the deal now awaiting a nod from the leaders of the two countries.“We have reached a framework to implement the Geneva consensus and the call between the two presidents,” U.S. Commerce Secretary Howard Lutnick told reporters.Chinese restrictions on rare-earth exports to the U.S. are a “fundamental part” of the latest agreement and the U.S. expects the issue “will be resolved in this framework implementation,” Lutnick said.He indicated U.S. restrictions on sales of advanced tech to China in recent weeks would be rolled back as Beijing approves rare-earth exports.Read the full story here.— Evelyn ChengHere are the opening callsMike Kemp | In Pictures | Getty ImagesSkyline view of the City of London financial district from the viewpoint in Greenwich Park in London, United Kingdom. Good morning from London, welcome to CNBC’s live blog covering European financial market action as well as the latest regional and global business news, data and earnings.Futures data from IG suggests London’s FTSE will open 14 points lower at 8,852, Germany’s DAX down 105 points at 23,925, France’s CAC 40 down 9 points at 7,788 and Italy’s FTSE MIB 95 points lower at 40,082.Global markets are having a mixed reaction to news that U.S. and Chinese officials reached a tentative consensus on trade after a second day of talks in London. The negotiators will now seek approval on the framework from the U.S. and Chinese presidents.Asia-Pacific markets climbed overnight on the apparent breakthrough, but U.S. stock futures inched lower, with investors also looking ahead to May inflation data.— Holly EllyattWhat to keep an eye on todayEric Thayer | Bloomberg | Getty ImagesAn Aldi supermarket in Alhambra, California, in 2024.Global markets will be keeping a close eye on the latest U.S. inflation report for May.Economists polled by Dow Jones expect a 0.2% month-over-month increase, while the headline consumer price index is anticipated to have grown 2.4% on an annual basis. Hotter-than-expected data could spook investors who are already on edge over inflationary pressures and the trajectory of Federal Reserve rate cuts.Traders will be keeping an eye on the Nvidia keynote address at the VivaTech conference in Paris on Wednesday, as well as Goldman Sachs’ annual European Financials Conference.Meanwhile, U.K. investors will be looking out for the government’s “Spending Review,” in which it sets out day-to-day spending and investment plans for all government departments. Earnings are set to come from retail giant Inditex.— Holly Ellyatt
Stock futures slipped Wednesday as investors after China and the U.S. reached a trade policy consensus. They also awaited the release of May’s consumer inflation report.Futures tied to the S&P 500 were off 0.2%, while Nasdaq 100 futures inched down 0.1%. Dow Jones Industrial Average futures lost 66 points, or 0.2%.U.S. and Chinese officials reached a consensus on trade after a second day of talks in London. U.S. Commerce Secretary Howard Lutnick said he and U.S. Trade Representative Jamieson Greer will return to Washington to “make sure President Trump approves” the framework.As part of the framework, China would approve the exports of rare earth minerals. Meanwhile, the U.S. would roll back sales restrictions of advanced tech goods to China.The discussions are a key focus for investors that remain jittery toward any jolts on trade policy. Both China and the U.S. previously agreed to temporarily lower high tariffs on one another in May, although a fully ironed-out agreement has yet to materialize.Stocks rose Tuesday as traders grew optimistic that a deal would be reached. But “oine key concern is that the Trump administration, buoyed by the market rebound, may resume aggressive tariff rhetoric—potentially triggering renewed retaliation from China and Europe, as seen earlier this year,” Deutsche Bank chief economist David Folkerts-Landau said in a Tuesday note.“At the same time, rising long-end bond yields are amplifying fiscal concerns globally, particularly given plans for expanded deficits across multiple major economies,” he added. “With several countries already on unsustainable debt paths, the events of 2025 may have accelerated an inevitable reckoning.”Investors will get further insight into the U.S. economy on Wednesday morning as the Bureau of Labor Statistics rolls out May’s reading of the consumer price index. Economists polled by Dow Jones call for a 0.2% month-over-month increase, while headline CPI is anticipated to have grown 2.4% from 12 months earlier. A hot report could spook investors who are already on edge over inflationary pressures.“Ultimately this report is not expected to cause any significant changes to the Fed’s current wait and see approach when it comes to setting rates,” said Sam Millette, director of fixed income at Commonwealth Financial Network. “With that being said, we’ll have to wait and see if the report shows the anticipated modest rise in price pressure that’s expected or if there are any surprises in store for investors.”—CNBC’s Evelyn Cheng contributed reporting.Quantum computing stocks rise after Nvidia CEO commentsQuantum computing stocks rose in the premarket after Nvidia CEO Jensen Huang said the space was in an inflection point. Shares of Quantum Computing popped 8%, while Rigetti Computing climbed 4%. Huang was speaking at the VivaTech conference in Paris.— Fred ImbertU.S. and China officials reach a trade consensusRepresentatives of the U.S. and China arrived at a consensus on trade after a second day of talks in London, according to an NBC transcript.U.S. Commerce Secretary Howard Lutnick said that he and U.S. Trade Representative Jamieson Greer would return to Washington to “make sure President Trump approves” of the framework.U.S. stock futures were little changed following the development. S&P 500 futures, Nasdaq 100 futures and Dow futures were all down roughly 0.1% each.Read more from CNBC’s Evelyn Cheng on the latest surrounding the trade talks here.—Darla MercadoStocks making the biggest moves after hours Check out some of the companies making headlines in extended trading.Dave & Buster’s — Stock in the arcade and restaurant company gained more than 9% after Dave & Buster’s reaffirmed its full-year guidance. Executives also pointing to encouraging data so far in June GitLab — The software stock pulled back 13% after the lower end of GitLab’s second-quarter outlook missed analyst estimates for both earnings and revenue. GitLab’s first-quarter results surpassed analyst expectations on the top and bottom line. GameStop — Shares pulled back roughly 5% after first-quarter revenue missed analyst estimates. GameStop notched revenue of $732.4 million, while analysts polled by FactSet forecast $750 million. — Brian EvansStock futures are little changed Stock futures were little changed on Tuesday, with investors looking for more progress on trade policy as talks between the U.S. and China continue.Futures tied to the Dow Jones Industrial Average slipped 24 points, or 0.06%. S&P 500 futures lost 0.07%, while Nasdaq 100 futures pulled back 0.04%.— Brian Evans
Tesla’s Austin Robotaxi Launch: All The Unanswered Questions InsideEVsView Full Coverage on Google News
Employer demand for formal degrees is declining for all jobs, but more quickly for jobs exposed to artificial intelligence, according to the 2025 AI Jobs Barometer report by professional services firm PwC published last week.“AI helps people rapidly build and command expert knowledge ... which could make formal qualifications less relevant,” according to the report which analyzed close to a billion job ads and thousands of company financial reports across six continents.The technology is also creating rapid turnover in the skills and knowledge workers need to succeed, which may mean that formal degrees become “out of date” more quickly, the report added.Notably, the skills that employers look for are changing 66% faster in occupations most exposed to AI, such as financial analyst, compared to those least exposed, such as physical therapist. This is up from the 25% recorded last year, according to PwC’s data.“For workers, a greater emphasis on skills over degrees in hiring may help to democratise opportunity, opening doors for those who lack the time or resources to gain formal degrees,” the report said. “In AI-exposed fields, what matters is increasingly what people can do today, not what they studied in the past.”Are degrees going out of date?Today, education isn’t limited to formal institutions or universities anymore, as you can learn using AI tools and LLMs (large language models), PwC Global Chief AI Officer Joe Atkinson told CNBC Make It. In order to adapt and futureproof your career in the rapidly changing work landscape, he suggested upskilling on AI at home.“I think the ability individuals will have to tap vast amounts of knowledge is amplified in this age of AI,” said Atkinson. This is leading to a new kind of economy where “the bar for everybody goes higher, because the access we all have to knowledge will be greater.”“The AI models are developing capabilities at a speed that is incredible ... I think anybody that is not uncomfortable feeling like they are constantly trying to keep up, probably isn’t paying attention,” he said.He suggested exploring the different AI models, figuring out the differences between them, learning how to prompt LLMs, monitoring tech blogs and practicing using the tools as much as possible.“What’s most important is that AI skills are practical skills. They’re applied skills ... you have to use the tech,” he said. The dedication to self-learning during this era is becoming “the new table stakes. If you’re not able to do that, you are going to fall behind so quickly.”“The reality is we can’t fear the tech. We have to embrace the tech,” added Atkinson.But ultimately, formal education isn’t only about acquiring knowledge and skills — “it’s about the whole person,” he said. “It’s about how you think and how you interact and how you critique. I think those higher-order capabilities ... become more valuable in the future, not less.”Want a new career that’s higher-paying, more flexible or fulfilling? Take CNBC’s new online course How to Change Careers and Be Happier at Work. Expert instructors will teach you strategies to network successfully, revamp your resume and confidently transition into your dream career.Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life.
CALGARY, AB, June 10, 2025 /CNW/ - Alvopetro Energy Ltd. (TSXV:ALV) (OTCQX:ALVOF) announces May 2025 sales volumes and an operational update, including results from our 183-D4 well. Based on cased hole logs and logs while drilling, the well encountered 61 metres total vertical depth ("TVD") potential net natural gas pay in the Caruaçu Formation 106 metres updip of our 183-A3 well.President & CEO, Corey C. Ruttan commented:"May sales included the first full month of production from our first two wells drilled in Western Canada averaging 346 bopd gross (173 bopd net), exceeding our pre-farmin expectations and we are looking forward to drilling our next two wells here starting this summer. We are also encouraged by our 183-D4 results and expect to have this well on production in Q3 to fuel continued production growth in Brazil."May Sales VolumesNatural gas, NGLs and crude oil sales:May2025April2025Q12025Brazil: Natural gas (Mcfpd), by field: Caburé10,80012,63611,710 Murucututu1,5008442,093 Total natural gas (Mcfpd)12,30013,48013,803 NGLs (bopd)111126135 Oil (bopd)--10Total (boepd) – Brazil2,1612,3732,446Canada: Oil (bopd) – Canada17390-Total Company – boepd(1)2,3342,4632,446(1)Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes.May sales volumes in Brazil averaged 2,161 boepd, including natural gas sales of 12.3 MMcfpd and associated natural gas liquids sales from condensate of 111 bopd, based on field estimates. Sales volumes decreased 9% compared to April due to turnarounds at both Alvopetro facilities and Bahiagás end user plants, which impacted demand in the month. In Canada, with a full month of production in May, Alvopetro's net 50% share of oil sales volumes increased to 173 bopd, bringing the Company's total sales to 2,334 boepd, based on field estimates.Operational Update183-D4 Well ResultsWe have now completed the sidetrack and drilling of our 183-D4 well on our 100% Murucututu natural gas field. The well was drilled to a total measured depth of 3,072 metres ...Full story available on Benzinga.com
This is CNBC’s live blog covering European markets.Elon Musk says he regrets some social media posts he made about TrumpKevin Dietsch | Getty ImagesTesla CEO Elon Musk speaks alongside U.S. President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. Tech billionaire Elon Musk on Wednesday said he regretted some of the social media posts he made last week during an explosive public dispute with his formerly close ally, U.S. President Donald Trump.Read more on this breaking news story here.Zara owner Inditex flags slowing summer sales as quarterly revenues miss expectationsMike Kemp | In Pictures | Getty ImagesA shopper carrying two large bags from clothing retailer Zara on Oxford Street in London, U.K., on Feb. 5, 2024.Zara owner Inditex on Wednesday posted weaker-than-expected quarterly sales while flagging a slower start to the summer season than last year amid broader economic uncertainty.The Spanish retailer reported revenues of 8.27 billion euros ($9.44 billion) in the fiscal first quarter covering Feb. 1 to April 30, slightly shy of the 8.39 billion euros forecast by LSEG analysts.Net income came in at 1.3 billion euros for the quarter, compared to the 1.32 billion euros analysts estimated.— Karen GilchristU.S.-China trade agreement: What you need to knowBloomberg | Bloomberg | Getty ImagesU.S. Commerce Secretary Howard Lutnick speaks to members of the media while arriving for trade talks at Lancaster House in London, UK, on Tuesday, June 10, 2025.The U.S. and China have reached an agreement on trade, representatives from both sides said after a second day of high-level talks in London, with the deal now awaiting a nod from the leaders of the two countries.“We have reached a framework to implement the Geneva consensus and the call between the two presidents,” U.S. Commerce Secretary Howard Lutnick told reporters.Chinese restrictions on rare-earth exports to the U.S. are a “fundamental part” of the latest agreement and the U.S. expects the issue “will be resolved in this framework implementation,” Lutnick said.He indicated U.S. restrictions on sales of advanced tech to China in recent weeks would be rolled back as Beijing approves rare-earth exports.Read the full story here.— Evelyn ChengHere are the opening callsMike Kemp | In Pictures | Getty ImagesSkyline view of the City of London financial district from the viewpoint in Greenwich Park in London, United Kingdom. Good morning from London, welcome to CNBC’s live blog covering European financial market action as well as the latest regional and global business news, data and earnings.Futures data from IG suggests London’s FTSE will open 14 points lower at 8,852, Germany’s DAX down 105 points at 23,925, France’s CAC 40 down 9 points at 7,788 and Italy’s FTSE MIB 95 points lower at 40,082.Global markets are having a mixed reaction to news that U.S. and Chinese officials reached a tentative consensus on trade after a second day of talks in London. The negotiators will now seek approval on the framework from the U.S. and Chinese presidents.Asia-Pacific markets climbed overnight on the apparent breakthrough, but U.S. stock futures inched lower, with investors also looking ahead to May inflation data.— Holly EllyattWhat to keep an eye on todayEric Thayer | Bloomberg | Getty ImagesAn Aldi supermarket in Alhambra, California, in 2024.Global markets will be keeping a close eye on the latest U.S. inflation report for May.Economists polled by Dow Jones expect a 0.2% month-over-month increase, while the headline consumer price index is anticipated to have grown 2.4% on an annual basis. Hotter-than-expected data could spook investors who are already on edge over inflationary pressures and the trajectory of Federal Reserve rate cuts.Traders will be keeping an eye on the Nvidia keynote address at the VivaTech conference in Paris on Wednesday, as well as Goldman Sachs’ annual European Financials Conference.Meanwhile, U.K. investors will be looking out for the government’s “Spending Review,” in which it sets out day-to-day spending and investment plans for all government departments. Earnings are set to come from retail giant Inditex.— Holly Ellyatt
The sales figures, reported by the Japanese company on Wednesday, put it on the path to realizing its aim of selling 15 million units in its fiscal year ending March 2026. The record initial sales of the Switch are in line with the strong demand analysts had predicted, but the rush has put into question Nintendo’s ability to meet demand. Nintendo sold more than 3.5 million units of its flagship Switch 2 gaming system in the four days following its launch, a record-breaking start for the company’s first new console in eight years. The sales figures, reported by the Japanese multinational video-game company on Wednesday, put it on the path to realizing its aim of selling 15 million units of the Switch 2 console in the fiscal year ending March 2026. The Switch 2, which was released on June 5, has been met with much fanfare, with fans lining up for hours ahead of midnight releases at Nintendo stores.“Fans around the world are showing their enthusiasm for Nintendo Switch 2 as an upgraded way to play at home and on the go,” Nintendo of America President and Chief Operating Officer Doug Bowser said in a statement, adding the company was thankful for the response. Tokyo-listed shares of Nintendo, which have gained nearly 30% so far this year, were down 3.5% on Wednesday, LSEG data showed. The company has seen its shares rise nearly fivefold since the original Switch debuted in early March 2017.It remains to be seen if the Switch 2 can recapture the magic of its predecessor, which had set the bar with 15 million unit sales in its first year. It went on to sell more than 152 million units to become the second-highest selling Nintendo device ever, behind the Nintendo DS.Shortages?The record initial sales of the Switch are in line with the strong demand analysts had predicted. However, the rush has put into question Nintendo’s ability to meet demand. Retailers including Walmart, GameStop, Target and Best Buy were out of stock of the consoles, their online stores showed Wednesday. In April, Nintendo’s Bowser told CNBC that the company had been working with “retail partners to ensure there’s ample supply for not only the launch weekend, but well beyond.”However, Nintendo President Shuntaro Furukawa stated the same month that 2.2 million people in Japan had entered the lottery to purchase the Switch 2 on launch day, exceeding expectations and what the company had initially planned to deliver to stores.Serkan Toto, CEO of Tokyo-based games consultancy Kantan Games, previously told CNBC shortages in Japan were expected to persist.President Donald Trump’s “reciprocal tariffs” on most countries around the world also present headwinds for the Switch 2. In April, the company announced that it would delay preorders of the Switch 2 in the U.S. while it considers the impact of tariffs.The Switch 2 retails for $449 in the U.S., which makes it Nintendo’s priciest console to date.Nintendo’s Bowser said in April the company was going to “monitor where tariffs are going” before making any further decisions on price hikes. The Switch 2 builds on the success of the original Switch, featuring a larger screen, improved performance, and a higher price tag. The system also introduces the new GameChat2 feature, which allows players to voice or video chat with friends online and share game screens.— CNBC’s Arjun Kharpal contributed to this story.
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Wuhan Researcher Charged With Smuggling Biological Materials Into US Lab Authored by Eva Fu via The Epoch Times (emphasis ours),U.S. prosecutors have charged another Chinese national for smuggling biological materials into the United States and lying about the scheme.Petri dishes and notes found in intercepted packages that Chinese researcher Han Chengxuan allegedly smuggled into the United States. Department of JusticeHan Chengxuan, a PhD candidate from Wuhan in central China, was arrested upon landing at the Detroit Metropolitan Airport on June 8. An FBI agent said authorities had intercepted four packages of biological materials that Han allegedly sent to members of a University of Michigan laboratory.She was the third Chinese national charged in a week for smuggling materials for biological research. The previous two, accused of smuggling a crop-killing fungus, include a postdoctoral fellow at the University of Michigan’s Molecular Plant-Microbe Interaction. The criminal complaint said Han was a Chinese Communist Party member who has shown loyalty to the Party.The complaint said Han admitted to shipping an estimated five to 10 packages, but several were lost in transit. She said that her professors at both the Chinese and U.S. universities, as well as the recipients, had no knowledge of what she sent, characterizing them as a “surprises,” according to the FBI agent.The packages contain neither the correct documentation nor the permit required for importing roundworm-related materials, the complaint noted.The shipments allegedly went to two recipients: one active member of the lab and another among the faculty and staff at the Life Sciences Institute at the University of Michigan.Han initially lied to the customs agents at the airport about the content of the packages, claiming they were plastic cups and a book, according to a court filing. Pressed, she admitted that the packages contained petri dishes of nematode growth medium for growing roundworms, as well as small circular DNA molecules called plasmids in an envelope, the FBI agent said.Han, who is studying at the College of Life Science and Technology in the Huazhong University of Science and Technology, arrived on an exchange visitor visa; she has an offer letter presenting her as a visiting scholar to the Michigan lab, according to prosecutors. Han told the FBI that she was coming to the University of Michigan for one year for her research on roundworms.She stated that she had produced the desired plasmids using E. coli, isolated and injected them into roundworms as a primary method for her research, according to the filing. The FBI agent noted that plasmids are often used as a vehicle for introducing genetic modifications in organisms like roundworms.Han’s immigration paperwork said she researches how animals detect sensory cues such as touch, chemicals, and light, and how neural circuits process such information for behavioral outcome, and how genes and drugs affect such processes, the complaint said. She has co-authored two research papers on roundworms, known scientifically as C.elegans.A U.S. consular officer initially rejected Han’s J1 visa application on March 18 due to her struggle to conduct the interview in English, which was essential for her obtaining the visa. She secured the visa successfully nine days later, with an officer noting that she “spoke credibly about her educational background, current studies, and post graduate plans,” the complaint stated.Han tried to conceal the content of the shipment with written notes and a book, including one reading: “Hello! This is a fun letter with interesting patterns. I hope you can enjoy the pleasure within it,” according to the court document.Labels on the same note contain terms consistent with roundworm research, the filing said. Han allegedly told the customs agent she created a “picture game” in the book and that the recipient of her note would sequence the plasmids—a process each taking about a week—to identify what they were “for fun,” the filing said.Han allegedly deleted the content of her electronic device before coming to the United States. She stated she wanted to “start afresh” when questioned by federal agents.U.S. Attorney for the Eastern District of Michigan, Jerome Gorgon, said the alleged smuggling from a Wuhan university marks “part of an alarming pattern that threatens our security.”“The American taxpayer should not be underwriting a PRC-based smuggling operation at one of our crucial public institutions,” he said in a statement.John Nowak, Customs and Border Protection’s acting director of field operations, said the alleged actions compromise the integrity of U.S. research institutions.“The guidelines for importing biological materials into the U.S. for research purposes are stringent, but clear, and actions like this undermine the legitimate work of other visiting scholars,” he said, adding that his agency will not tolerate the smuggling of “potentially dangerous goods” through U.S. ports of entry. Tyler DurdenTue, 06/10/2025 - 22:15
Gavin Newsom made a stand for American democracy in a fiery speech Wednesday condemning Donald Trump for deploying nearly 5,000 troops in L.A. amid ICE raid protests. In a quickly organized primetime ET address on the fifth day of unrest, the California Governor lambasted the “brazen abuse of power by a sitting president inflamed a [...]
CHINO, Calif., June 10, 2025 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (Nasdaq: KRT) (“Karat” or the “Company”), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced the pricing of its previously announced underwritten secondary offering of 1,500,000 shares of Karat’s common stock by certain members of the Company’s management team (collectively, the “Selling Stockholders”) at a price of $27.00 per share. The underwriters have been granted a 30-day option to purchase up to an additional 225,000 shares of Karat’s common stock from the Selling Stockholders. The offering is expected to close on June 12, 2025, subject to the satisfaction of customary closing conditions. The Company will not receive any proceeds from the sale of shares by the Selling Stockholders.
President Donald Trump's trade wars are expected to slash economic growth this year in the United States and around the world, the World Bank forecast Tuesday.Citing “a substantial rise in trade barriers'' but without mentioning Trump by name, the 189-country lender predicted that the U.S....
Windtree Therapeutics, Inc. (NASDAQ:WNT) shares are trading higher Tuesday after the company announced it will acquire Titan Environmental Services.What To Know: Windtree expects the deal to generate $12 million in revenue over the next 12 months and establish a new subsidiary, Windtree Environmental Services.The transaction will be funded through preferred shares and secured debt financing, and includes an $8 million breakup fee ...Full story available on Benzinga.com
CHICAGO, June 10, 2025 (GLOBE NEWSWIRE) -- Environmental & Public Health International (EPHI), a leader in Flint Water Crisis–focused drinking water training led by the former EPA Flint Emergency Coordinator, announced today that its Lead Service Line Replacement Cost Calculator (LSLRCC) has been officially listed in MERLOT and the Civic Tech Field Guide—two of the nation's most respected directories for civic innovation and educational tools.The free browser-based tool helps utilities, municipalities, engineers, and public health professionals model and estimate the cost of lead service line replacement—a critical step in protecting public health and complying with federal regulations. Since its launch in April 2025, the calculator has been used to estimate over $3 billion in lead service line replacement costs, based on anonymized analytics data.These listings reflect growing national recognition of EPHI's broader impact—including its Flint Water Crisis: Drinking Water Training courses, which are also listed in MERLOT and the Civic Tech Field Guide—as trusted resources supporting public health and drinking water infrastructure transparency."Being listed in MERLOT and the Civic Tech Field Guide validates what we've known from the beginning—that this tool ...Full story available on Benzinga.com
The European Union wants to lower a cap on the price of Russian oil to deprive the Kremlin of profits to fund its war in Ukraine
IBM stock gained following the company's pledge to build the world's first "large-scale, fault-tolerant quantum computer" by 2029. The post IBM Stock Gains As Tech Giant Offers Plan For Quantum Computing's 'Next Frontier' appeared first on Investor's Business Daily.
The U.K. will invest 14.2 billion pounds ($19 billion) to build a new nuclear station to reduce its reliance on volatile international fossil fuel markets
INTERCARGO’s latest casualty report reveals a significant improvement in bulk carrier safety over the past decade, though emerging security threats in the Red Sea region have introduced new challenges to...
LINK’s media partner, WCPO, set out a few months ago with a simple question: how do the amenities at bus stops across Northern Kentucky differ block by block? After visiting and reviewing dozens of them, we concluded they vary greatly depending on which street you come across. Certain amenities, like benches or bus shelters, tend [...]The post How does TANK decide which bus stops feature which amenities? appeared first on LINK nky.
TACO Tuesday Again By Michael Every of RabobankExpect much self-serving market chuckling about ‘TACO Tuesday’ again as Monday’s US-China trade talks in London extend into today and headlines are that the US may loosen its export controls on some goods if China releases its on rare earths.Is that really a TACO though? These were unilateral US moves against China taken after the recent Geneva agreement, so dropping them this only takes us back to where we were weeks ago, and presumably for the clear deliverable of getting rare earths flowing again as the US had expected.... until the US has them flowing from elsewhere, that is. A true TACO --Truly Appalling ‘Clever’ Option’-- would be the White House not doing the latter because economists tell them that “because markets” local rare earth processing is more expensive.As evidence of a distinct lack of poultry, which coincidentally came up in a conversation yesterday, in WW1, the British found they were reliant on Germany for optical glass needed for binoculars, while Germany was short of the rubber it had sourced from the British Empire. Both decided to swap these strategic goods with each other via Switzerland (though this is disputed by some).Interestingly, the Chinese press report of these talks state “The US...trade deficit in goods with China is not only the inevitable result of the structural problems of the US economy but also determined by the comparative advantages of the two countries." Who knew neo-mercantilist Chinese economists were the same Ricardian neoliberals as at western universities and institutions? Of course, they aren’t - but they know writing it wins over those who dine on TACOs.And chew on May’s Chinese trade data: exports to the US -34.5%; to the EU +12%; to Germany +21.5%; to France +24.1%; and to Netherlands +7.1%. This isn’t a US-China problem and those that taco that approach will deindustrialise.Meanwhile, it’s unclear how much chickening out there is in geopolitics. Ukrainian drones just hit another Russian military target, destroying two fighter jets, as Germany’s outgoing spy boss and NATO chief Rutte both warned Russia could launch an attack against it within five years. “Let’s not kid ourselves, we are all on the eastern flank. There is no east or west, there is just NATO,” Mr Rutte said, and the danger “will not disappear when the war in Ukraine ends.”Rutte specifically told the UK: “Spend more or learn to speak Russian.” To help Brits appalled at the idea of learning a foreign language, and those who believe it might be better than vast state spending when fiscal deficits and public debt are sky high: “Когда мне снизят центральную банковскую процентную ставку?” (‘When do I get my rate cut?’ – that’s all that matters, right?)Even Canada is moving its Coast Guard to national defence and PM Carney will announce defence spending will be NATO’s 2% of GDP target this fiscal year - just in time for it to rise to 5% at its upcoming summit.Of course, Europe is just one front. Iran will reportedly reject the proposed US nuclear deal and offer its own that allows it nuclear enrichment and demands the “forced” destruction of Israel’s nuclear arsenal, according to the New York Times. Israeli PM Netanyahu rushed from a court appearance to speak to Trump about it, where he was told the US sees Iran and Gaza as linked and wants deals “so there’s no destruction and death.” Expect more US-Iran talks this weekend. However, that’s as Iran's top security body says the intel it just obtained about Israel’s nuclear facilities mean it could launch counterattacks should Israel strike its.And if that isn’t enough, India is ready to strike ‘deep into Pakistan’ if provoked, New Delhi just warned.Meanwhile, President Trump sent 700 marines to LA on top of the National Guard to try to restore order following riots at the enforcement of the deportation of illegal immigrants, upping the political ante, as Governor Newsom sued to have this reversed. As the New York Times claims ‘The US is no longer a stable country’, recall this is the same US that has seen past presidential assassinations, with two attempts against Trump in 2024; this long list of riots; that past White Houses have sent in federal forces to restore order at the state level; and, for ‘doomers’, that the refusal of states to accede to federal authority was related to the US Civil War.This matters for markets, and not just because the US is already hardly looking the safe-haven it once did. Logically, if Trump’s LA action fails, a template may be set that while the US border is now closed, mass deportations de facto cannot happen, implying the current default for labor markets. However, if Trump succeeds, it suggests he may be able to press ahead like past presidents (Reagan removed 8 million people, and Clinton and George W. Bush 10 million each), with very different labor market implications. Moreover, success would boost Trump’s standing; and failure would both weaken it and imply a de facto one-way turnstile border with longer-term socio-economic implications and politically polarizing effects. Similar issues are of course being seen in many western democracies at the moment.On which note, French President Macron refused to rule out new legislative elections as soon as next month, though his last try at that backfired on him, seeing gains for the far right and left vs. his centrists.Very much in the 2025 spirit, a report also claims the Pentagon has been faking UFO sightings to keep people unaware of their own breakthroughs. I have a friend who would immediately respond: “That’s what they want you to think.” Yet at the same time, Axios says the ‘scariest reality’ is that the firms eagerly building AI don’t know how or why it works but are sitting back and watching it let rip. I would say that as new graduates already find entry-level jobs are being replaced by AI that potential mass unemployment ahead is a pretty scary thought too.Lastly, in markets, China is to deepen its use of a $1.5 trillion state housing fund to offer cheaper mortgages than its state-owned banks can. That’s certainly a new wrinkle on ‘what is GDP for?’ and does suggest some fine-tuning of the economy.You put all this together and it’s really hard to make a convincing case that we are seeing any real ‘chickening out’. Chicken Littles or headless chickens, possibly. Truly Appalling ‘Clever’ Options, certainly. Tyler DurdenTue, 06/10/2025 - 10:45
CUPERTINO, Calif. (AP) — After stumbling out of the starting gate in Big Tech’s pivotal race to capitalize on artificial intelligence, Apple tried to regain its footing Monday during an annual developers conference that focused mostly on incremental advances and cosmetic changes in its technology.
Accruing points or miles can save clever credit card users thousands of dollars on travel and upgrades, but there are hazards. Anna Werner talks with the bloggers behind the websites Points With a Crew and The Points Guy to learn the secrets of turning credit card points programs into free travel.
Defense technology company Anduril is the No. 1 company on the 2025 CNBC Disruptor 50 list, taking the top spot from OpenAI, which falls to No. 2 after two consecutive years topping the annual startup rankings. It is the first time defense tech has topped the D50 list, and emblematic of a trend, with three additional defense-oriented startups joining Anduril as Disruptors this year. The generative AI boom continues to transform the list from top to bottom: Only 11 companies on this year’s list were Disruptors before the launch of ChatGPT.This year’s Disruptor 50 list, topped by Anduril in the No. 1 spot, and then OpenAI, showcases 50 companies that are challenging the status quo and using technology (most often, AI) to transform a range of industries.What’s particularly notable about this year’s list is how the sectors represented illustrate key trends not just in technology and VC, but also in politics and society. This is the first time in the 13 years of the Disruptor 50 list that it’s been topped by a defense tech company. The defense tech sector isn’t just represented by Anduril, with Flock Safety, Saronic Technologies, and ShieldAI also making the 2025 list.Their scope and scale demonstrate a rising trend. The four companies have a combined value of more than $45 billion and have raised almost $10 billion from investors. They have geographic diversity – all are headquartered outside Silicon Valley. And their focuses are varied. Flock Safety (No. 7 on this year’s list) makes security hardware and software. Saronic (No. 19) builds unmanned maritime vessels. Shield AI (No. 38) is an autonomous drone company.Beyond the companies focused on building physical methods of defense, there is also Abnormal AI (No. 25), a cybersecurity company playing a key role in protecting systems from attacks that prey on human behavioral weaknesses. Gecko Robotics (No. 30) deploys its robots to capture data about the integrity of critical assets, including aircraft carriers, naval ships, and missile silos. The sector’s growth is expected to accelerate thanks to a surge of funding. Last week, Anduril announced a new $2.5 billion round of funding at a valuation, $30.5 billion, double the valuation at its previous round of funding. Saronic and Shield AI have also closed major fundraising rounds in 2025, according to Pitchbook, $600 million in Saronic’s case.AI infrastructure company Scale AI (No. 28) secured a landmark deal last August with the Department of Defense’s Chief Digital and Artificial Intelligence Office to advance AI capabilities for the U.S. military. Scale AI also announced a new multi-million dollar deal with the DoD in March to help with “Thunderforge,” an initiative to develop AI agents for U.S. military planning and operations that also includes this year’s Anduril.The surge in funding comes as President Trump has proposed an increase in defense spending, with a focus on modernizing military capabilities and opening opportunities beyond the legacy defense sector. There is also an increasing focus on dual-use technologies: Anduril took over Microsoft’s augmented reality headset program that was in the works with the military, and then at the end of May announced a deal with Meta to create VR and AR devices for use by the Army.Along with the rise of military tech, the explosion in generative AI’s capabilities is driving the transformation of a range of sectors, from farming to law and robotics. Across the list, there are 17 enterprise tech companies, seven fintechs, four health-care companies, four in food/agriculture, and three each in transportation and biotech. These are the 2025 CNBC Disruptor 50 companiesHow we chose the 2025 CNBC Disruptor 50Anduril is No. 1 company on 2025 CNBC Disruptor 50 list as defense tech risesAI-focused investments and higher valuations are on full display up and down this year’s Disruptor 50 list. The 13th annual Disruptor 50 class is valued at $798 billion, far more than last year’s $436 billion total, due in large part to OpenAI’s $300 billion valuation. The total amount the companies have raised increased to $127 billion, up from $70 billion last year.It’s clear that the generative AI revolution has transformed the startup ecosystem as well as the list, with 20 newcomers this year. Only 11 companies on this year’s list were Disruptors before the launch of ChatGPT, and many in that group — including Anduril, Databricks, and Canva — have succeeded because of their embrace of gen AI.More than two-thirds of companies on this year’s D50 list — 38 companies — said that AI is “critical to their business,” up from 34 last year. And 21 of this year’s companies say generative AI is their essential technology, up from 13 last year.This reflects venture capital’s increasing focus on AI: about 58% of global VC dollars invested in the first quarter went into AI and machine learning startups, while in North America, 70% of deal value went into AI and machine learning startups. And the funding numbers continue to grow, with $73 billion raised in the first quarter, more than half of last year’s total, though that’s largely due to OpenAI’s $40 billion round, led by SoftBank.AI is being used in a range of diverse use cases by Disruptors, including law (Harvey), fighting crime (Flock Safety), and in the doctor’s office (Abridge and Rad AI). But the sector with the most companies on this year’s Disruptor 50 list is enterprise AI, with 17 companies (up from 14 last year). These range from Databricks, which helps companies mine their data, to Glean, which enables its customers to build custom AI apps and custom search tools, to collaborative workspace and note-taking tool Notion.Design platform Canva has increasingly invested in AI and made AI features the center of its toolkit. With partnerships with ChatGPT and Anthropic (No. 4 on this year’s list), and the acquisition of several AI-powered companies in the past year, CEO Melanie Perkins is expected to take her $32 billion company public in the next year. “We’ve continuously been investing in this space with magic recommendations, and so forth, over the years with generative AI,” said Perkins. “Being able to have that magic embedded as you’re writing your documents and your presentations, being able to have Canva AI ... it’s really been an extension of that initial promise that we’ve had to customers, to empower the world, to design, to continue to put the latest to greatest technology in their hands.” Perkins says Canva has a three-pronged approach to AI: integrating the best products that are available, deeply investing in the areas needed to bring the expertise to their customers, and having a platform where the newest AI products and other apps can come onto Canva and be accessed by the community.She is optimistic about the potential for AI to be a democratizing force for Canva’s 220 million customers around the world. “I think it’s critically important that as the world of humanity, we use AI to truly lift up every single person who lives here, to help everyone have their basic human needs being met,” she said. “And I think there is a huge opportunity for us to be dreaming bigger about what we want with technology accelerating. I think there is a huge opportunity to rethink what we’re doing with it and ensuring that it’s serving our needs.”Sign up for our weekly, original newsletter that goes beyond the annual Disruptor 50 list, offering a closer look at list-making companies and their innovative founders.
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Plane With Up To 20 People On Board Crashes In Tennessee, Officials Say Authored by Jack Phillips via The Epoch Times (emphasis ours),A plane with as many as 20 people on board crashed in Tennessee on Sunday, leading to several people being airlifted to hospitals, the state highway patrol confirmed.A plane with as many as 20 people on board crashed in Coffee County, Tennessee, on Sunday, officials say. Tennessee Highway Patrol“Initial reports suggest 16–20 people were on board. Some have been airlifted to nearby hospitals,” the Tennessee Highway Patrol wrote in a post on social media platform X, adding that the plane went down in Coffee County, around 60 miles south of Nashville.In a post on Facebook, the highway patrol said that several people have been flown to hospitals. Others are being evaluated on-site, it added.“This remains an active and developing situation,” said the law enforcement agency. “Tullahoma first responders and Coffee County EMS are leading response efforts. Please avoid the area to allow emergency crews room to operate safely. They will share more updates as information becomes publicly available.”Based on the two social media posts, no fatalities have been reported as of Sunday afternoon.Video footage released by the highway patrol on social media show the aircraft appears to be a small plane, which was broken in half.The Epoch Times has contacted the City of Tullahoma, where the crash took place, for comment.A spokesperson told CNN there were no fatalities, saying that the incident occurred at the Tullahoma Regional Airport. Federal Aviation Authorities officials are en route to assist in the investigation, the spokesperson added.More details about the victims, the injuries, and information about what led up to the crash or how it occurred were not immediately available. Tyler DurdenMon, 06/09/2025 - 22:40
This is CNBC’s live blog covering European markets.Rolls-Royce up 2% after firm backed to build Britain’s first small modular nuclear reactorsRonny Hartmann | Afp | Getty ImagesA Rolls-Royce aircraft engine on view during the Hannover Messe industrial trade fair on March 31, 2025.Shares of British aerospace group Rolls-Royce were last seen trading 2% higher after the company received backing from the U.K. government to build the country’s first small modular nuclear reactors.The announcement follows a two-year selection process and reaffirms Britain’s embrace of nuclear power, particularly as it also pledged on Tuesday to invest £14.2 billion ($19.2 billion) to build the large Sizewell C power station in eastern England.Read more on the news here.— Sam MeredithApollo eyes $100 billion Germany investment as private capital swerves U.S. turmoil for EuropeMEGA, or “Make Europe Great Again,” was a hot topic at this year’s biggest private markets event last week.The about-turn in sentiment toward the continent was illustrated no better than when the boss of industry juggernaut Apollo said he saw the opportunity to put $100 billion “in the ground” in Germany over the next decade.“I think many investors in Europe see the opportunity, and many investors in U.S. see the opportunity right now in Europe. They see it across the private equity ecosystem. They also see it across the credit ecosystem,” Apollo Global Management President Jim Zelter said during a keynote interview.Read the full story here. — Jenni ReidUK regulator confirms launch of private company trading systemA new form of trading platform allowing private companies to sell shares in short-term trading windows has been given the final green light by U.K. regulators and is set to launch later this year.Known as PISCES — or the “Private Intermittent Securities and Capital Exchange System” — the system will allow “institutional investors, high-net-worth individuals, sophisticated investors and employees of participating companies” to trade in shares of a non-listed company for limited periods as short as a day, according to the Financial Conduct Authority.Toby Melville | ReutersA worker shelters from the rain as he passes the London Stock Exchange in the City of London.The new market is a response to many businesses choosing to stay private for longer periods, particularly in the U.K. where there are concerns about undervaluation and risk-aversion among investors. The government-backed system aims to provide more opportunities for investors to access growth companies and means for existing shareholders to exit or change their positions.Companies will have control of the floor and ceiling of their share prices and who is able to buy them, the FCA said, citing a demand for investors to “trade private company shares easily and efficiently in an organised marketplace.”— Jenni ReidUK government borrowing costs fall after labor market dataU.K. government bonds — known as gilts — have risen across the board after the Office for National Statistics released its latest data on the British labor market.While the unemployment rate was in line with expectations, average wage growth at 5.3% came in below the 5.5% expected by economists polled by Reuters. The data also showed a 7.9% decline in job openings in the three months to April, when compared to the previous three-month period.The yield on the benchmark 10-year gilt fell 7 basis points on Tuesday morning, with 5-year gilt yields shedding 6 basis points by 9:56 a.m. in London. Yields on the 2-year gilt were down by 7 basis points, while long-dated 30-year gilt yields moved 6 basis points lower.Bond yields and prices move in opposite directions, so as prices increase with higher demand, yields fall.— Chloe TaylorFund managers lobby Congress over Section 899 to avert foreign investors leaving the U.S.CNBC’s Ganesh Rao has been reporting this morning that American fund managers are lobbying Congress over a provision tucked inside President Donald Trump’s tax bill that they say could lead to foreign investors “quickly” pulling investments out of the U.S.The “One Big Beautiful Bill Act,” which passed through the U.S. House of Representatives in May, aims to penalize foreign-owned firms operating in the U.S. and that are from countries with “unfair foreign taxes” under a provision known as Section 899. It is currently being considered by the Senate.The Investment Company Institute (ICI), which represents fund houses in the U.S., is lobbying Congress for an amendment.Read Ganesh’s story here.Renk extends losses, on track for sharpest decline in over a yearBloomberg | Bloomberg | Getty ImagesA Leopard 2 tank gear transmission in a production hall at the Renk AG plant in Augsburg, Germany, on Monday, May 8, 2023.German defense giant Renk extended the losses it notched at the open, last seen trading 9.3% lower — putting it on track for its steepest one-day decline since April 2024.The company’s shares have surged in value since the beginning of the year, gaining around 282%.Renk’s fall on Tuesday comes amid a broad sell-off of European defense stocks, as investors monitor U.S.-China trade talks that are expected to include details on rare earth mineral flows. The minerals are crucial to manufacturing of weaponry and other defense technologies.Other companies in the sector seeing steep losses on Tuesday include Saab, down 4.4%, Hensoldt, down 4%, and Rheinmetall, last seen trading 3.2% lower.— Chloe TaylorNovo Nordisk shares pop on reports of activist investor stakeShares of Novo Nordisk climbed 3.3% following reports that activist hedge fund Parvus Asset Management is building a stake in the Danish pharmaceutical giant in a bid to influence the appointment of its new CEO.The move was reported Monday by the Financial Times, citing sources with knowledge of the details.Obesity drug maker Novo Nordisk last month ousted its longstanding CEO Lars Fruergaard Jørgensen as increased competition has weighed heavily on U.S. sales of its blockbuster Wegovy drug.Neither Novo Nordisk nor London-based Parvus immediately responded to CNBC’s request for comment.— Karen GilchristDefense stocks fall ahead of more U.S.-China trade talksYan Dobronosov | Global Images Ukraine | Getty ImagesA Rheinmetall MAN Military Vehicle on Nov. 20, 2024, in Donetsk Oblast, Ukraine.European defense stocks are notching broad falls this morning, with the regional Stoxx Aerospace and Defense index extending losses to trade 0.8% lower.That puts the index on course for its third consecutive day of declines.Investors are monitoring U.S.-China trade talks, which are set to continue in London on Tuesday. At the center of the talks are critical minerals, on which China imposed export restrictions in April, in response to U.S. tariffs on Chinese exports.Rare earth minerals are critical for the production of weaponry and other defense technologies.German defense giant Rheinmetall was last seen trading 3.4% lower, while Germany’s Renk and Hensoldt were down 8% and 3.1%, respectively.— Chloe TaylorEuropean stocks see mixed openIt’s 10 minutes since the opening bell, and European shares are in mixed territory.The pan-European Stoxx 600 was last seen trading flat. London’s FTSE 100 was up 0.4%, while the German DAX index was down by 0.2%. France’s CAC 40 was last marginally higher.— Chloe TaylorSterling falls after UK labor market updateThe British pound is currently down 0.5% against the U.S. dollar, trading at around $1.35.Sterling has gained so 7.8% against the greenback so far this year.— Chloe TaylorCooling labor market could speed up Bank of England rate cuts, economists sayBloomberg | Bloomberg | Getty ImagesWorkers cross a junction near the Bank of England (BOE) in the City of London, UK, on Tuesday, April 8, 2025. Hiring appetite is weakening in Britain, according to Jack Kennedy, senior economist at Indeed.Reacting to the ONS’ data release, Kennedy pointed to government policies including a minimum wage hike, a raft of new worker protections, and the rising tax burden on employers, as dampening businesses’ willingness to take on staff.“The labour market [is] one characterised by widespread caution, with the dampening impact of April’s rise in employer costs reinforced by global headwinds and uncertainty over the Workers’ Rights Bill,” he said.“The sharper than expected falls in wage growth and payrolled employment suggest a more material pace of cooling may be starting to emerge, which could open the door to a faster pace of interest rate cuts from the Bank of England.”Ruth Gregory, deputy chief U.K. economist at Capital Economics, agreed.“With payrolls falling, the unemployment rate climbing and wage growth easing, today’s labour market release leaves us more confident in our view that the Bank of England will cut interest rates further than investors expect, to 3.50% next year,” she said.Markets are currently not pricing in such a steep reduction in the central bank’s key interest rate, according to LSEG data. According to the data, analysts are overwhelmingly expecting the Bank of England to hold rates steady at 4.25% at its next meeting later this month.“The jobs market is not collapsing,” Gregory stressed. “Indeed, there hasn’t been a big rise in the LFS redundancy rate or HR1 notifications (which firms are required to complete if the plan to lay off staff). But most indicators show labour demand is clearly weakening.”— Chloe TaylorBritish job openings continue steady decline, wage growth coolsThe ONS’s data also showed this morning that job vacancies in the U.K. fell to 736,000 between March and May — a decline of 63,000 openings, or 7.9%, from the previous three-month period.It marked the 35th consecutive decline in job openings. Meanwhile, average earnings (including bonuses) saw a year-on-year increase of 5.3% for the period between February and April. Since spiking to 6.1% in December, annual wage growth in the country has steadily cooled.— Chloe TaylorU.K. unemployment rate rises to 4.6%, in line with expectationsBloomberg | Bloomberg | Getty ImagesA staff wanted sign in the window of a restaurant in the Soho district of London, U.K., on Tuesday, Sept. 7, 2021.Britain’s unemployment rate rose slightly to 4.6% in the three months to April, in line with economist expectations, data from the country’s Office for National Statistics showed this morning.In the previous three-month window to March, U.K. unemployment stood at 4.5%.The U.K.’s economic inactivity rate — an estimate of those aged 16 to 64 who are out of work and either not seeking employment or unable to start work imminently — rose to 21.3% in the three months to April.— Chloe TaylorHere’s what to expect todayInvestors can expect a mix of economic data and earnings out of Europe today. The big release will be the unemployment rate from the U.K., along with figures on average earnings in the country. Economists polled by Reuters are expecting Britain’s unemployment rate to have hit 4.6% in April, up from 4.5% a month earlier.Data on Italian industrial production is also due later on Tuesday.On the earnings front, companies slated to update shareholders on their finances include British firms Paypoint, Assura and Tatton Asset Management.— Chloe TaylorHere are the opening callsShomos Uddin | Moment | Getty ImagesThe City of London is a blend of old and new, with St Paul’s Cathedral close to skyscrapers as well as Roman ruins.Good morning from London, welcome to CNBC’s live blog covering all the action in European financial markets as well as the latest regional and global business news, data and earnings.Futures data from IG suggests London’s FTSE will open 11 points higher at 8,838, Germany’s DAX up 62 points at 24,234, France’s CAC 40 up 23 points at 7,807 and Italy’s FTSE MIB 83 points higher at 40,545.Global markets have been buoyed by trade talks that are taking place between U.S. and Chinese officials in London this week, with hopes rising that both sides can avert large-scale punitive tariffs and a trade war.Global markets will be keeping an eye on the talks, which are set to continue Tuesday.The latest U.K. unemployment figures are also due, but there are no other significant earnings or data reports Tuesday.— Holly EllyattGlobal markets buoyed by China-U.S. talksGlobal markets climbed overnight amid hopes that the U.S. and China will find a way to resolve their trade dispute, with talks between trade officials set to continue in London on Tuesday.Asia-Pacific markets and U.S. stock futures rose Monday night as investors waited for more insights into trade discussions between the U.S. and China. Traders are looking for signs of a deal that doesn’t involve the world’s two largest economies slapping extravagant tariffs on each other.Denis Balibouse | ReutersA car with U.S. Treasury Secretary Scott Bessent leaves a residence where trade talks between Chinese and U.S. delegations take place in Geneva, Switzerland, May 10, 2025. REUTERS/Denis BalibousePresident Donald Trump‘s top trade officials met their Chinese counterparts in London on Monday, with Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer negotiating on behalf of the U.S.Trump has authorized Bessent’s team to potentially remove U.S. restrictions on the sales of chipmaking software, jet engine parts and ethane, The Wall Street Journal reported, citing sources familiar with the matter. Trump said Monday that the talks were going well and he was “only getting good reports,” according to Reuters.— Holly Ellyatt
As Temu and Shein suffer from tariffs in the U.S., the companies have been shifting focus to Europe, where their sales grew in May, according to consumer trend data from Consumer Edge. However, experts warn that the China-founded budget shopping platforms will meet familiar regulatory scrutiny in the region.Temu and Shein are pivoting to Europe as their business in the U.S. takes a major hit from unfavorable trade policies. But the China-founded budget e-commerce apps may not receive a warm reception in their new target markets. In recent weeks, complaints have been filed against Temu and Shein in the EU, accusing them of unsavory business tactics. That comes as the bloc prepares a new two-euro flat fee on previously customs-free small packages from online marketplaces like Temu and Shein. Experts say the new developments could be ominous signs for the platforms, as their business has already suffered from the May closure of a small package tariff exemption in the U.S., as well as new duties at 54%, or $100 for those sent through the postal service. “As regulatory and trade pressures intensify in the U.S., Temu and Shein are increasingly turning to Europe and the UK as critical growth markets,” Anand Kumar, associate director of research at Coresight Research, told CNBC. However, Kumar said that the companies have begun to face regulatory headwinds in Europe and the U.K. that echo the scrutiny they’ve encountered in the U.S. “The EU’s proposed €2 customs fee is more than a minor surcharge—it’s a strategic regulatory move aimed at curbing the unchecked growth of ultra-cheap cross-border e-commerce, and it could reshape how platforms like Shein and Temu operate in Europe over the next 2–3 years,” he added. Europe pivotTemu and Shein have boosted their ad spending in Europe, particularly in the U.K. and France, according to a report from Reuters, reflecting their shift away from the U.S.The growing importance of the EU and U.K. to the two companies has also been reflected in data from Consumer Edge Research, which traces consumer trends based on a sample of credit and debit card info. According to the data it sent to CNBC, Temu’s consumer spending in the U.S. fell about 36% in May from a year earlier, while Shein’s fell 13% over the same period. The company added that its data shows that some of Temu and Shein’s U.S. customers have shifted their spending toward legacy department stores and fast fashion retailers. Those trends coincide with data from market intelligence firm Sensor Tower showing that app usage of Temu and Shein in the U.S. is slowing significantly.However, the opposite trends for the platforms were observed in the U.K. and EU. In May, year-over-year consumer spending growth reached 63% in the EU and 38% in the U.K. Shein experienced growth of 19% in the EU and 42% in the U.K. over the same period. For Temu, Consumer Edge data showed that growth was especially pronounced in the key market of France, Europe’s second-largest economy. To capitalize on the momentum in Europe, Temu and Shein have been aggressively expanding their operations across the region, including ramping up warehouse capacity, experimenting with localized business models, as well as significantly increasing digital ad spending in key markets like the U.K., France and Germany, according to Coresight’s Kumar. “This expansion is not merely opportunistic—it signals a strategic shift in how these companies envision their next phase of growth,” he said. “That said, the European market is not without its challenges. The region enforces stricter regulations on product safety, consumer protection, and fair competition, all of which require Temu and Shein to invest more in compliance and operational transparency,” he added. Experts say that those challenges and the EU’s potential duties on small-value packages may be signs of more pressures to come for Temu and Shein. Scrutiny intensifiesAccording to French local media, the wording of an “anti-fast fashion” bill, which is under debate in the French National Assembly, was recently rewritten to single out ultra-cheap platforms like Shein and Temu. The bill, first approved by France’s lower house of parliament in March last year, seeks to penalize fast-fashion products for their environmental impact.Meanwhile, on Thursday, the pan-European consumer organization BEUC filed a complaint with the European Commission against Shein over its use of deceptive techniques, or “dark patterns” that cause overconsumption. That comes after the European Commission announced its own investigation into Shein’s compliance with EU consumer law in February and, in May, urged Shein to respect EU consumer protection laws. BEUC has also filed a complaint against Temu, while 17 of its members filed the same complaint with their competent national authorities, the group said. Xiaomeng Lu, director of geotechnology at Eurasia Group, told CNBC that the latest scrutiny Temu and Shein are experiencing in the EU is reminiscent of that in the U.S. “[Temu and Shein] offer cost effective solutions and an efficient supply network that fare well in the fast moving fashion world. However their labor practices and human rights standards may not fully align with high value markets like the EU and U.S.,” Lu said. That conflict and “rising protectionism” globally are the “key drivers of these regulatory reactions,” she added.In the U.S., officials had also taken issue with Temu over its alleged non-compliance with the Uyghur Forced Labor Prevention Act (UFLPA), which prohibits the import of goods made with forced labor from China’s Xinjiang region.According to Coresight’s Kumar, Europe, for its part, is progressing toward stricter oversight through the Corporate Sustainability Due Diligence Directive — which EU member states have until July 2026 to integrate into their national laws. The directive would compel companies operating in the EU to identify and mitigate human rights abuses in their supply chains, disclose environmental impact and sustainability metrics and face legal consequences for failing to take adequate preventive steps.That means Temu and Shein will face stringent compliance demands in the EU, Kumar said. However, the region still offers meaningful opportunities for expansion in an increasingly protectionist global trade environment, he added.
CUPERTINO, Calif. (AP) — After stumbling out of the starting gate in Big Tech’s pivotal race to capitalize on artificial intelligence, Apple tried to regain its footing Monday during an annual developers conference that focused mostly on incremental advances and...
FOX 10 Investigator Justin Lum and Executive Producer George Obi break down the third day of Lori Daybell’s trial. Key witnesses from Gilbert PD testified to the October 2019 shooting outside Brandon Boudreaux’s home. But Daybell attempts to poke holes in testimonies.
CarGurus has added an artificial intelligence-powered search experience to its online platform for buying and selling new and used vehicles. [contact-form-7] This search experience allows consumers to use conversational language to discover vehicles that meet their needs, compare models, and refine the search results, the company said in a Monday (June 9) press release. CarGuru’s [...]The post CarGurus Adds AI-Powered Search Experience to Car Shopping Platform appeared first on PYMNTS.com.
/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/VANCOUVER, BC, June 9, 2025 /CNW/ - Finlay Minerals Ltd. (TSXV:FYL) (OTCQB:FYMNF) ("Finlay" or the "Company") is pleased to announce that it has closed its non-brokered private placement (the "Private Placement"), previously announced on May 26, 2025 and June 4, 2025, consisting in the issuance of: (i) 11,206,088 common shares of the Company issued on a flow-through basis under the Income Tax Act (Canada) (each, a "FT Share") at a price of $0.11 per FT Share, and (ii) 4,400,000 non-flow-through units of the Company (each, a "NFT Unit") at a price of $0.10 per NFT Unit, for aggregate gross proceeds to the Company of $1,672,670. Each NFT Unit was comprised of one non-flow-through common share of the Company (each, a "NFT Share") and one non-flow-through common share purchase warrant (a "Warrant"). Each Warrant is exercisable by the holder thereof to acquire one NFT Share at an exercise price of $0.20 per NFT Share until June 9, 2027, subject to acceleration as described in the Company's press release dated June 4, 2025.The Company intends to use the gross proceeds of the Private Placement for exploration of the Company's SAY, JJB and Silver Hope properties, and for general working capital purposes, as more particularly described in the amended and restated offering document in respect of the Private Placement filed on www.sedarplus.ca under the Company's profile. The Company will use the gross proceeds from the issuance of FT Shares to incur "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures", as such terms are defined in the Income Tax Act (Canada).The Private Placement was conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions and in reliance on the Coordinated ...Full story available on Benzinga.com
Apple Inc.'s (NASDAQ:AAPL) bold new design in iOS 26, dubbed "Liquid Glass," is drawing sharp criticism online — and investor Ross Gerber thinks the backlash may be warranted.What Happened: Unveiled during Apple's WWDC 2025 keynote on Monday, Liquid Glass is a translucent, reactive interface meant to make the iPhone experience more fluid and immersive.It now extends across buttons, sliders, the lock screen, Control Center and more. Apple executive Alan Dye described it as combining "the optical qualities of glass with a fluidity only Apple can achieve."However, users aren't convinced.A user on X, @Greggertruck, shared a screenshot of the new Control Center and wrote, "Steve Jobs would have fired everyone." The post quickly gained traction, with investor Gerber chiming in with a Hundred Points emoji.See Also: Pierre Ferragu Takes Apple To Task For Dismissing The AI Revolution: ‘Has Its Head In The Sand’💯 https://t.co/cnsH8MZbEN— Ross Gerber (@GerberKawasaki) June 9, 2025The user wanted Apple to make the design more opaque.Other users echoed the sentiment, calling the design "a smeary mess of colors and overlapping functionality." One said, "Looks like when you get someone to use Photoshop for the first time, every effect box is clicked."Some were more measured. "I'm gonna keep ...Full story available on Benzinga.com
On May 7, 1925, William Lever, one of the soap-making siblings that founded Lever Brothers, died at age 73. Jane Pauley reports on the company that really cleaned up.
11-year-old girl shot, seeks help at Durham Rescue Mission, sparking debate on gun violence and community safety.
LOS ANGELES, June 9, 2025 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against BigBear.ai Holdings, Inc. ("BigBear" or "the Company") (NYSE: BBAI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. ...Full story available on Benzinga.com
Klarna CEO predicts AI-driven job displacement will cause a recession FortuneKlarna CEO says company will use humans to offer VIP customer service TechCrunchKlarna boss: AI will lead to recession and mass job losses City AMKlarna Saved $2 Million After Cutting Ties With Salesforce BloombergKlarna CEO warns AI may cause a recession as the technology comes for white-collar jobs Business Insider
Cameco supplies uranium to major utilities but also has exposure to new nuclear technology and standard nuclear reactors.The post How This Cathie Wood Stock Is Positioned To Take Full Advantage Of Donald Trump's Nuclear Renaissance appeared first on Investor's Business Daily.