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More than 1 billion barrels of oil have gone missing
The good news: The Strait of Hormuz is open again, after Iran and the United States signed a memorandum of understanding this week.
Tech entrepreneur Dug Song helps Michigan's future business founders
After selling a cybersecurity company for billions, the son of a Korean immigrant has focused on making it easier for those who follow.
Accenture Just Had Its Worst Day in Years. Is AI Coming for the Consulting Business?
The consulting giant posted solid results, yet a cautious outlook and a multibillion-dollar acquisition bet sent its stock to the lowest level in years.
Parts of Trump’s Iran deal sharply criticized by some key Republicans
GOP senators criticized provisions including the lifting of U.S. sanctions on Iranian oil exports and a plan to set up a $300 billion fund meant to rebuild the country.
Exclusive | Pentagon Tells Lawmakers It Needs $80 Billion for Iran War and Other Bills
Military officials say the services could run out of money for operations this summer unless Congress passes a new wartime spending bill.
Microsoft (MSFT) Is Building A Billion Dollar AI Business In China
Microsoft (NasdaqGS:MSFT) is building a large AI and cloud business in China, supplying OpenAI models through Azure to major local technology companies. ByteDance is reported to spend over US$1b annually on Microsoft AI and cloud services, with Ant Group, Meituan, and Tencent also using Microsoft models. Microsoft has emerged as a key provider of OpenAI technology in China at a time when several US competitors are not active in the region. For investors watching Microsoft, this growing AI...
Paulson Wins $47 Million in Arbitration With Ex-Business Partner
John Paulson was awarded more than $47 million by an arbitrator who found that the billionaire’s former Puerto Rico business partner cheated him on one investment and usurped him on another.
Sports betting is changing the game for Colorado’s fans and athletes as big money adds new pressures
Since 2020, Colorado’s gamblers have wagered $28.4 billion on sports bets, averaging $418.7 million monthly. All that money is changing games for both fans and athletes.
California wealth tax sparks debate among billionaires, voters
A wealth tax proposal in California is running into left-leaning resistance, with critics arguing it's not a stable revenue source.
Prediction markets are skeptical of California's billionaire tax
Kalshi and Polymarket bettors are unsure if California Gov. Gavin Newsom can prevent a proposed billionaire tax from reaching voters.
California's billionaire tax qualifies for the November election but faces stiff political pressure
Loss of another Seattle-area billionaire? Valve’s Gabe Newell is reported buyer of Florida estate
The Wall Street Journal reported this week that the video game developer is the buyer of a waterfront estate north of Miami.
It’s official: California voters will weigh a one-time billionaire tax
The measure’s spot on the ballot ensures a brutal and expensive campaign that will coincide with voters’ deciding control of Congress and the governorship.
California lawmakers to vote on tax increases affecting health insurance and digital software
California lawmakers are set to vote tomorrow on two tax increases, including higher taxes on health plans and a new sales tax on digital software, which are expected to raise billions annually for state programs.
Georgia Republicans choose Collins for Senate and Jackson for governor, a mixed result for Trump
Georgia Republicans delivered a split decision for Donald Trump in Tuesday runoffs, opting for the president’s preferred U.S. Senate candidate but rejecting his choice for governor in favor of a billionaire first-time candidate who spent freely from his personal fortune to win the nomination.
Justice Department sues New York over Medicaid home care ‘fraud scheme’
The Justice Department is suing the New York State Department of Health, the state’s Medicaid director and a company operating a $10 billion home health prog…
This $91 Billion Fintech Startup Is Laying Off 10% of Workers Even Though the Business 'Has Never Been Stronger'
Here’s why layoffs happened anyway, despite business being strong.
Billionaire Valve Boss Gabe Newell Buys Florida Super Mansion With Its Own Underground Tunnel for $70.8 Million
Gabe Newell has splashed out $70.8 million on a Florida super mansion that comes with its own tunnel to the sea.
‘Stop the Billionaire Takeover’ Lays Out Finances Behind SF Politics
Ahead of the June 2 election, about 45 people gathered at the Ortega Branch Library on May 13 to hear a presentation on what organizers called a billionaire takeover of local elections.
Trump wins two, loses one: Georgia billionaire delivers rare blow to endorsement machine
Trump-backed candidates won two of three key GOP runoffs in Georgia and Alabama, but lost the gubernatorial race to billionaire Rick Jackson.
Georgia runoffs 2026: Rick Jackson topples Burt Jones, wins GOP nod for governor
The billionaire healthcare executive won despite President Donald Trump and Gov. Brian Kemp endorsing his opponent.
Billionaire Rick Jackson defeats Trump-backed Burt Jones for the GOP nomination in Georgia governor’s race
NBC News projects that Jackson has won the primary runoff and will move on to the general election in the battleground state against Democrat Keisha Lance Bottoms.
U.S. Sues N.Y. State Over Troubled $11 Billion Home Health Care Program
The Justice Department accused officials of failing to police a vendor it said had siphoned off millions of dollars. A spokeswoman for Gov. Kathy Hochul called the suit an attempt to weaponize the justice system.
US Sues New York Health Officials Over Alleged Fraud in Medicaid Homecare Program
By Jonathan Stempel NEW YORK, June 16 (Reuters) - The Trump administration sued top New York health officials on Tuesday over an alleged scheme to rig the bidding process for managing the state's estimated $10 billion Medicaid homecare program, harming patients and caregivers as well as ...
California Business Groups Oppose Reckless Billionaires’ Tax
or Immediate Release Contact: John Myers john.myers@calchamber.com | press@calchamber.com (June 16, 2026) Sacramento, CA – The California Chamber of
A graduated tax plan could undercut Colorado’s business competitiveness, analysis warns
A proposal to move Colorado to a graduated income tax — taxing individuals and businesses at different rates based on their earnings — could generate more than $2 billion in its first year, but it may also weaken the state’s business climate, according to a new analysis from the Common Sense Institute. Initiative No. 195, […]
Evers celebrates record-breaking tourism year at bike shop in West Bend
The annual report, released earlier this month, showed the state generated $27 billion in economic impact.
Merchants of Doubt and the attacks on Extreme Event Attribution science
Last week, I attended a meeting at Columbia University on attribution science and climate law, hosted by the Sabin Center. It was a fantastic event, bringing together scientists and legal experts working at the intersection of extreme event attribution and climate law. Subscribe For those unfamiliar with it, extreme event attribution attempts to quantify the contribution of climate change to an extreme event. For example, several groups analyzed the impact of climate change on Hurricane Harvey’s enormous rainfall totals over Houston, Texas and they found that climate change increased rainfall by 15 to 38%. One thing that came up again and again was how terrified fossil-fuel interests are of extreme event attribution science. They are acutely aware that this research could land them in court. And losing those cases would leave them legally liable for billions of dollars in climate damages. Because the legal stakes are so high, the blowback has turned ugly. I spoke with several scientists at the meeting who are facing ongoing harassment over their work. This blowback is a coordinated campaign to make the entire field look suspect. The goal is to create the impression that attribution science is too uncertain, too political, or too conflicted to be useful in court or in public policy. The strategy is not based on actual science or evidence of misconduct, but on the generation of doubt. The new Merchants of Doubt We’ve seen this before. In fact, not that long ago: We only have to go back a year to the Department of Energy (DOE) Climate Working Group (CWG) report to see an example of using doubt as the tool to push back against well-established science. This strategy is laid out in an email from a member of the CWG, Dr. Roy Spencer, that was released during litigation over the Climate Working Group process. The key quote is: About all I can hope is that what we write will provide sufficient “reasonable scientific doubt” regarding the science claims in the 2009 TSD [technical support document], based upon almost 2 decades of new science, to call into question the original reasoning for the EPA Administrator’s decision that CO2 presents a threat to human health and welfare. This statement is strong evidence that at least some members of the committee were working to support a particular policy outcome: revoking the Endangerment Finding. The email also explains how they planned to do it: by attempting to generate “reasonable doubt”. This is going to be hard, Spencer implies. Despite falsely claiming that “2 decades of new science” weakens the case, Spencer explicitly acknowledges that the actual peer-reviewed science of climate change overwhelmingly rejects his position: But if the science argument is decided upon by a vote, or by the number of published citations, we lose the science argument. We can go back even further: This CWG email shares unmistakable DNA with the infamous 1969 tobacco memo that declared: “Doubt is our product, since it is the best means of competing with the ‘body of fact’ that exists in the mind of the general public. It is also the means of establishing a controversy.” The tobacco memo also acknowledges the limit of this strategy: Like the CWG, they knew the science was not on their side. Share The new new Merchants of Doubt The people attacking the IPCC chapter on extreme event attribution are the newest iteration of the Merchants of Doubt. Their goal, like all Merchants before them, is to introduce doubt into the process. Because the report is not even out yet, they cannot attack its conclusions. So they are attacking the authors instead. Here is a press release from the House Science, Space, and Technology Committee: In the letter, the Chairmen express concerns about potential conflicts of interest involving members of the Attribution Committee, stating that “publicly available information suggests a troubling pattern” in which committee members are affiliated with nonprofits that support climate accountability lawsuits, “raising the appearance of impropriety and member bias.” To be clear, this is just innuendo. There is no actual evidence of bias. And given the robust process that these reports go through, including multiple lines of peer review, it seems very unlikely that significant bias can survive into the report. When the report comes out, critics will have the opportunity to make legitimate criticisms of the report — if any exist. If none do, however, they’ll still make criticisms, but they’ll be bogus, simply designed to generate doubt. We’ll see. A note to the press: Fix your frame To any journalists reading this: The public debate over extreme event attribution science is not going away. The science is simply too dangerous to fossil-fuel interests for them to stop fighting it. You very well might be assigned to write an article about this area of research in the future. When you do, do not automatically adopt the framing that climate misinformers want you to use. They want you to frame the story around questions like: Are climate scientists trying to put their thumb on the scale to achieve a predetermined, politically motivated result? Are climate scientists improperly letting their politics invade the science of the IPCC? That frame is a trap. Instead, you need to view this through the historical lens of the Merchants of Doubt. How does the ecosystem of doubt operate? Who funds it? What methods do they use to misrepresent science and slime researchers? What scientific results are they trying to keep people from understanding are legitimate? Ultimately, you instead need to focus your article on the generation of doubt as a way to maintain the fossil fuel industry’s social and legal license to keep burning oil, gas, and coal. If you treat the misinformers’ frame as a legitimate, good-faith scientific critique, you are helping them produce doubt. Don’t do it. Don’t be a Merchant of Doubt. Thanks for reading The Climate Brink! Subscribe for free to receive new posts and support our work. Subscribe other stuff The Staying Curious Substack has an interesting post about the different flavors of climate sensitivity. This is crucial information if you want to understand how scientists think about how much warming the Earth will experience. I’d be grateful if you could hit the like button ❤️ below! It helps more people discover these ideas and lets me know what’s connecting with readers.
Microsoft's cloud infrastructure talks with Oracle collapse, Business Insider reports
June 16 (Reuters) - Microsoft's discussions with Oracle regarding a cloud infrastructure leasing deal, potentially valued at more than $3 billion, have fallen apart due to security and compliance
Microsoft's cloud infrastructure talks with Oracle collapse, Business Insider reports
Microsoft's discussions with Oracle regarding a cloud infrastructure leasing deal, potentially valued at more than $3 billion, have fallen apart due to security and compliance concerns, Business Insider reported on Tuesday.
Pritzker signs nearly $56B budget with new business taxes as he seeks 3rd term
Article Summary Gov. JB Pritzker signed the fiscal year 2027 budget, which totals $55.9 billion, making it the largest in
Microsoft was in talks to lease $3 billion in Oracle compute capacity
Microsoft was recently in talks with Oracle for cloud infrastructure, but sources say the deal fell through over security and compliance concerns.
Walmart’s fashion boss garners top company award, transforms business
Walmart has not always been known for its fashion sense, but the category has grown into a $20 billion business in recent years behind the leadership of Denise Incandela and...
Jeff Bezos Just Raised $12 Billion. He’s Betting His Newest Business Will Create the Next Elon Musk or Henry Ford
Jeff Bezos is back in an operating seat for the first time since stepping down from Amazon (NASDAQ:AMZN), pointing a $12 billion war chest at what he calls the engine of civilizational wealth: invention itself. In a CNBC interview on June 11, 2026, Bezos and co-CEO Vik Bajaj outlined Prometheus, a Series B round raising ... Jeff Bezos Just Raised $12 Billion. He’s Betting His Newest Business Will Create the Next Elon Musk or Henry Ford
Pizza Hut Sold to Two Firms for $2.7 Billion
Yum China will acquire Pizza Hut’s locations in mainland China. The private equity firm LongRange Capital will buy its locations in the United States and elsewhere.
SpaceX Bolsters AI Business With $60 Bil Deal. Musk Targets $1 Tril In Revenue.
SpaceX boosts AI business with $60 billion deal for Cursor. Elon Musk makes this bold revenue target. ARK details its SpaceX forecast.
Yum! Brands to sell Pizza Hut in $2.7 billion deal
The sale comes months after Yum! Brands said it was reviewing strategic options for Pizza Hut.
Yum! Brands, Inc. Enters into Agreements to Sell Pizza Hut for $2.7 Billion
Yum! Brands, Inc. (NYSE: YUM) (“Yum!” or the “Company”) today announced that it has entered into definitive agreements to sell Pizza Hut for $2.7 billion in ...
SpaceX confirms it is buying AI coding startup Cursor for $60 billion
Elon Musk's rocket company announced on Tuesday that it had exercised its option to buy AI coding startup Cursor for $60 billion.
Bank Balances Rolled Back for Forza Horizon 6 Players Who Used Exploit to Amass a Billion Credits
In response to an arcane but incredibly lucrative exploit discovered by Forza Horizon 6 players, Playground Games has confirmed most of those credits gained will be removed.
Backed by Threat of Clawbacks, Feds Wield Tight Grip on $50B Rural Health Fund
Mehmet Oz, head of the Centers for Medicare & Medicaid Services, framed the $50 billion Rural Health Transformation Program as “bold, creative plans” led by states. But as states have started to roll out their plans, federal officials control where and how the money is spent.
Basketball vs. the Beautiful Game: the fight for America’s summer sports attention
Two mega-events, record ratings, and billions in broadcast rights: the collision that will reshape sports media for a generation.
Nearly half a billion dollars in ads projected in Maine election
Most of the spending will target the crucial U.S. Senate race between Democrat Graham Platner and Republican Susan Collins, according to AdImpact.
How A Former Vox Producer Built One Of YouTube's Biggest Science Shows
Former Netflix and Vox journalist Cleo Abram left traditional media to build Huge If True on YouTube. Now at 2.2 Billion views, she's reshaping science journalism.
Marian Ilitch: A Michigan billionaire in business, sports and family
The co-founder of Little Caesar's Pizza with her late husband, Marian Ilitch became one of America's wealthiest women.
Microsoft sued by shareholders over expenses, cloud business, AI
Microsoft has been sued by shareholders who accused the company of defrauding them and inflating its stock price by failing to disclose slowing growth in its Azure cloud business and the need to spend billions of dollars on AI infrastructure.
Microsoft sued by shareholders over expenses, cloud business, AI
Microsoft has been sued by shareholders who accused the company of defrauding them and inflating its stock price by failing to disclose slowing growth in its Azure cloud business and the need to spend billions of dollars on AI infrastructure. The proposed class action led by a Michigan pension fund was filed in Seattle federal court on Friday, after Microsoft shares fell 10% on January 29 in response to its quarterly earnings report a day earlier. About $357 billion of market value was erased, and Microsoft's stock suffered its biggest one-day decline in nearly six years.
Fox to buy streaming pioneer Roku in a $22 billion deal
Fox and Roku said that the combined company will become the third-largest player in U.S. television by share of viewing
Fox to buy streaming pioneer Roku in a $22 billion deal
Fox and Roku said that the combined company will become the third-largest player in U.S. television by share of viewing
Fox to buy streaming pioneer Roku in a $22 billion deal
Fox and Roku said that the combined company will become the third-largest player in U.S. television by share of viewing
She Turned Celebrity Gossip Into a $22 Billion Company — Here's How Kalshi's Co-Founder Did It
At 29, Luana Lopes Lara is the youngest self-made female billionaire in the world. Her road to riches started with celebrity gossip.
The $4 Billion Coffee Pod Business Faces Its Biggest Threat Yet
Billions of coffee pods are sold every year. Coffee giant Lavazza is betting that consumers are finally ready for a different approach.
Salesforce to buy Fin for about $3.6 billion
Salesforce said on Monday it had signed an agreement to acquire customer agent company Fin for about $3.6 billion.
Here Are Monday’s Best Wall Street Analyst Research Calls: Accenture, Caesars Entertainment, Datadog, Dupont, Epam Systems, Ferrari, Paychex, Rocket Lab, TeraWulf, and More
Pre-Market Stock Futures: Futures are exploding higher on news of a peace deal with Iran expected to be signed this Friday. This follows a historic Friday that saw the coming-out party of Space Exploration Technologies (NASDAQ: SPCX), widely known as Elon Musk’s SpaceX. The record-breaking size of the offering, raising $75 billion, the company’s debut ... Here Are Monday’s Best Wall Street Analyst Research Calls: Accenture, Caesars Entertainment, Datadog, Dupont, Epam Systems, Ferrari, Paychex, Rocket Lab, TeraWulf, and More
Here Are Monday’s Best Wall Street Analyst Research Calls: Accenture, Caesars Entertainment, Datadog, Dupont, Epam Systems, Ferrari, Paychex, Rocket Lab, TeraWulf, and More
Pre-Market Stock Futures: Futures are exploding higher on news of a peace deal with Iran expected to be signed this Friday. This follows a historic Friday that saw the coming-out party of Space Exploration Technologies (NASDAQ: SPCX), widely known as Elon Musk’s SpaceX. The record-breaking size of the offering, raising $75 billion, the company’s debut ... Here Are Monday’s Best Wall Street Analyst Research Calls: Accenture, Caesars Entertainment, Datadog, Dupont, Epam Systems, Ferrari, Paychex,
What Will It Take to Get a Bundibugyo Vaccine? | Johns Hopkins Bloomberg School of Public Health
Decades of research and billions of dollars went into licensing a vaccine for Zaire ebolavirus. What will it take to get one for Bundibugyo?
Fox to acquire Roku in $22 billion deal
Fox CEO Lachlan Murdoch said on Monday that the Roku acquisition marks a "defining moment" for the company.
Fox is buying Roku for $22 billion
Fox is acquiring Roku, the popular streaming TV platform, in a massive $22 billion deal, the companies announced Monday.
Fox to buy Roku in $22 billion deal
Fox signed an agreement to acquire Roku in a deal valued at about $22 billion, the companies said.
An ancient piece of the moon found in Africa hints at a long-ago collision that turned the lunar surface molten
A meteorite shows evidence that an ancient crash on the moon 3.5 billion years ago was so powerful, it turned the surface molten.
Themed Entertainment Giant Teases $55 Billion Investment
One of the world’s leading themed entertainment developers has teased a $54.4 billion project which is expected to be one of the biggest investments in its history.
Saint-Gobain to Sell Dahl Business to Kesko for $1.76 Billion
Shares in Saint-Gobain rose after the company struck a deal to sell its distribution business Dahl to the Finnish retailer Kesko.
Saint-Gobain sells Dahl business to Kesko for $1.7 billion
France-based construction group Saint-Gobain agreed to sell its specialist distribution business in Sweden, Norway and Denmark, primarily under the Dahl brand, to Finnish retailer Kesko for €1.5 billion ($1.7 billion), the company said on Monday.
Beneath our feet lies a fungal superhighway stretching 68 quadrillion miles
Beneath our feet lies a vast hidden fungal superhighway that helps sustain much of life on Earth—and scientists have now mapped it for the first time. Researchers estimate that these underground networks stretch an astonishing 110 quadrillion kilometers, move about 4 billion tons of carbon dioxide into soils each year, and play a major role in supporting plants and regulating the climate.
In a surprise twist, Brian Kemp endorses Burt Jones for governor
Kemp's endorsement gives Jones a significant boost in the closing days of his bitter runoff against billionaire Rick Jackson
Costco Wholesale Corporation (COST) Shows How Digitally Enabled Sales Are Outrunning Its Core Business
Costco Wholesale Corporation (NASDAQ:COST) is one of the best e-commerce stocks to buy as global sales hit records. The company is best known for its warehouse-club model, but its online and digitally enabled sales continue to grow at a faster pace than the broader business. On June 3, Costco reported net sales of $24.01 billion […]
UK and Japan agree £18bn investment deal
Japanese firms will spend billions on UK infrastructure and offshore wind, Downing Street says.
The big business of summer camp
The US youth camp industry was worth an estimated $4.6 billion last year.
Honeywell Sees Strong M&A Opportunities in Industrial Automation Business
Honeywell International Inc. (NASDAQ:HON) is included among the 10 Best S&P 500 Dividend Stocks to Buy Right Now. On June 11, Reuters reported that Honeywell International Inc. (NASDAQ:HON) is targeting acquisitions valued between $2 billion and $4 billion and sees significant opportunities for deals within its industrial automation business. “There is a ton of opportunity […]
SBA moves to revise 8(a) rules while preserving tribal, ANC eligibility
Details By Brian Edwards Native Contracting June 13, 2026 The U.S. Small Business Administration has proposed changes to its 8(a) Business Development Program that would eliminate race-based presumptions of social disadvantage for individually owned businesses while leaving eligibility standards unchanged for tribally owned enterprises, Alaska Native corporations and other Native entity-owned participants. In both the title and summary of the proposed rule published in the Federal Register, SBA emphasized that the changes only apply to individually owned firms and “do not impact entity-owned firms,” including tribes, Alaska Native corporation, Native Hawaiian organizations and community development corporations. The proposed rule, announced June 11, would require all individual applicants seeking admission to the 8(a) program to submit evidence demonstrating social disadvantage. Membership in a racial or ethnic group alone would no longer establish eligibility, according to the SBA. For Indian Country, the agency said eligibility standards for businesses owned by federally recognized tribes, Alaska Native corporations, Native Hawaiian organizations and community development corporations would remain unchanged. The proposal comes after the Department of Defense reaffirmed that participation by tribes and Alaska Native corporations in the 8(a) program is based on their political status under federal law rather than diversity, equity and inclusion initiatives. In a May 28 letter to Alaska's Republican Sens. Lisa Murkowski and Dan Sullivan, Under Secretary of Defense for Acquisition and Sustainment Michael P. Duffey wrote that participation by federally recognized tribes and Alaska Native corporations in federal programs is “grounded in their political status as Native Americans, not DEI initiatives.” The SBA proposal follows a 2023 federal court ruling that found unconstitutional the program's rebuttable presumption that members of certain racial and ethnic groups were socially disadvantaged. SBA Administrator Kelly Loeffler said the proposed rule would establish a single standard for individually owned applicants by requiring evidence of social disadvantage. The 8(a) Business Development Program provides participating firms with business development assistance and access to federal set-aside and sole-source contracting opportunities. The program remains a major source of federal contracting revenue for tribal enterprises and Alaska Native corporations. Native-owned firms received $16.1 billion of the program's approximately $26 billion in federal contract awards during fiscal 2024, according to data previously reported by Tribal Business News. The proposal also arrives amid ongoing concerns from Native contractors about SBA administration of the program. In May, the Native American Contractors Association and 53 Native-owned businesses urged SBA to address delays in processing 8(a) applications, saying some reviews had stretched beyond regulatory deadlines and appeared to have stalled since August 2025. The proposed rule is open for public comment through July 13. The Federal Register notice does not reference tribal consultation or indicate whether SBA determined consultation was unnecessary because tribal eligibility standards are unchanged. The SBA has not announced when the proposed rule would take effect. The agency is expected to accept public comments before issuing a final rule.About The AuthorAuthor: Brian EdwardsBrian Edwards is associate publisher and associate editor of Tribal Business News and Native News Online. He is a longtime publisher, editor, business reporter and serial entrepreneur. Subscribe Today!Other Articles by this authorDefense Department reaffirms tribal, ANC eligibility in SBA 8(a) programTribal heritage projects eligible for up to $100K in federal funding through NPS programIHS launches tribal long-term care construction initiative with three projectsIḷisaġvik College acquires site for long-planned Utqiaġvik campus This article is available to paid digital subscribers. Click here to sign in or get access.
Sharon O'Keefe
As president of the University of Chicago Medical Center and chief operating officer of the 1,286-bed University of Chicago Medicine health system, Sharon O’Keefe oversees a clinical enterprise with annual operating revenue of $2.21 billion. In the past 18 months, UChicago Medicine opened an expanded adult emergency department—a $39 million investment—and an adult trauma center. Since 2011, the system has generated annual growth of nearly 5 percent in revenue and 4 percent in patient admissions. O’Keefe previously was president of Loyola University Medical Center and executive vice president and chief operating officer at Boston’s Beth Israel Deaconess Medical Center. She serves on the Illinois Hospital Association finance and audit committee and is on the American Heart Association’s Midwest affiliate board.
How video games became a channel for political influence
From China to Saudi Arabia, governments are investing billions in gaming to project influence and assert control
SpaceX IPO breaks record: here are 10 public offerings it dwarfed
SpaceX broke the public market record by raising $75 billion in the largest IPO ever, blowing 10 largest IPOs in history out of the water.
Paramount's $111-billion Warner Bros. acquisition clears key hurdle
As expected, the U.S. Justice Department gave its consent for the blockbuster merger expected to reshape Hollywood
Political blame game follows as screwworm parasite threatens cattle in Texas
Screwworms are on their way to becoming a billion-dollar international problem but can be contained if ranchers are vigilant, watch their herds and other wildlife, and quickly treat any infestations, U.S. Agriculture Secretary Brooke Rollins said.
FDA clears new computer-assisted device for removing clots in stroke patients
The Thunderbolt device from California-based Penumbra uses modulated aspiration to detect and remove blood clots. Back in January, Boston Scientific agreed to acquire Penumbra for approximately $14.5 billion.
How 30 Billion Pokémon Go Scans Became a Military AI Tool for Drone Warfare
30 billion images from Pokémon Go players have been used to train an AI model, now being adapted by Vantor for US military drone navigation.
Judge extends block on Trump's $1.8 billion 'Anti-Weaponization Fund'
U.S. District Judge Leonie Brinkema ruled that the fund will remain blocked until further notice from the court.
Judge extends block on Trump's $1.8 billion 'Anti-Weaponization Fund'
Acting Attorney General Todd Blanche says the government is scrapping its plans for the fund after bipartisan backlash
Judge says she doesn’t believe ‘anti-weaponization’ fund is dead; extends order blocking it
A federal judge on Friday said she doesn’t believe President Donald Trump’s plan for a $1.776 billion “anti-weaponization fund” is fully dead, and issued an order indefinitely blocking the proposal.
UFC White House and the Billionaire Alliance Monopolizing US Politics, Sports, and Entertainment
https://youtu.be/lEodBu8wALc?si=hkfmpX0f3prZm1SU
Sports betting popularity in Ohio continues to climb amid World Cup, NBA Finals
It's been more than three years since sports betting became legal in Ohio. It's now a multibillion-dollar industry in the Buckeye State.
Political blame game follows as screwworm parasite threatens cattle in Texas
The USDA launches a $1 billion plan to fight the spread of livestock-killing screwworms.
Eaton moves one step closer to becoming a cleaner bet on the AI boom
Auto parts manufacturer Dana has agreed to combine with Eaton's Mobility business in a deal that values the unit at $5.1 billion.
American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices
"No one has ever built a new stadium and made tickets cheaper. No one’s trying to.”
Trump's push for $350 billion 'arsenal of freedom' hits GOP skepticism
Trump calls on Republicans to pass a third reconciliation bill with $350 billion in defense spending and voter ID legislation, but GOP skepticism grows.
He Spent 15 Years Amassing SpaceX Shares. Now Comes the Windfall.
Justin Fishner-Wolfson, long a minor figure in Elon Musk’s orbit, is at the helm of a multibillion-dollar payout
Xbox layoffs planned as CEO Asha Sharma orders business reset
The Microsoft gaming unit's accountability margin has fallen to 3%, and revenue declined nearly half a billion dollars over five years
New Jersey Citizen Action’s Political Action Committee Endorses Candidates for 2026 General Elections
New Jersey Citizen Action’s Political Action Committee (NJCA-PAC) has endorsed US Senator Cory Booker, and Democratic Congressional candidates Zack Mullock (CD2), Rebecca Bennett (CD7), and Dr. Adam Hamawy (CD12) for the General Elections in November. In a press statement today, New Jersey Citizen Action Executive Director Dena Mottola Jaborska said: “At a time when Washington is prioritizing tax breaks for billionaires while working families struggle to afford healthcare, housing, and everyday necessities, we need lawmakers who will fight for[...]
DAZN, DirecTV Latin America strike sports channel deal ahead of World Cup
Sports streaming platform DAZN, backed by British-American billionaire Len Blavatnik, said it had struck a deal to bring DirecTV Latin America's DSPORTS channels to its platform in five countries, expanding its soccer offering as the 2026 FIFA World Cup kicks off.
Dana to Combine With Eaton’s Mobility Business in $5.1 Billion Deal
Dana said it has agreed to combine with Eaton’s Mobility business in a $5.1 billion deal that would create a more comprehensive supplier serving commercial- and light-vehicle markets.
Eaton to Merge Mobility Business With Dana in $10 Billion Deal
Eaton Corp. agreed to merge its mobility business with Dana Inc. in a deal valuing the combined company at roughly $10 billion including debt.
Trump’s ‘Anti-Weaponization’ Payouts May Not Be Dead After All
Despite insisting that a $1.776 billion fund has been scrapped, the administration is quietly assuring allies that plans remain on track.
Social Security is Facing a Political Crisis
On Tuesday the Social Security Trustees released their latest report on the system’s finances. The numbers didn’t change much: Unless something is done, the Old Age Survivors and Disability Insurance (OASDI) program, Social Security’s official name, will be unable to pay full benefits starting in either 2032 or 2034, depending on some technical issues. That’s not far away: If the Trustees are right, the prospect of a Social Security crisis will loom over the next presidential administration. It’s important to understand, however, the nature of the looming crisis. It won’t be an economic crisis. It won’t even be a serious fiscal crisis. Whatever you may have heard, Social Security isn’t in danger of going bankrupt. What we’re facing, instead, is potential political crisis. Congress and the White House could easily take action to sustain America’s retirement system. But given the current state of our politics, there’s no guarantee that they will. There is a widespread misunderstanding of how Social Security works. While Social Security was designed to look like a pension fund, it isn’t. A pension fund pays benefits out of a stock of assets it has accumulated over time. In contrast, Social Security operates as a government transfer program, like food stamps or Medicaid. Now, unlike food stamps — but like the highway trust fund — Social Security is on paper supported by a dedicated tax, the payroll tax, that is assigned to that program. But I say “on paper” because from an economic point of view assigning the payroll tax to Social Security is just an accounting convention. What matters for the U.S. economy is the overall balance between government spending and government revenue, not the difference between one type of spending and one source of revenue. So there’s no inherent economic significance to the fact that by 2034 payroll tax receipts will be insufficient to cover promised benefits. There is, however, a legislative issue. As long as the Social Security Administration can pay benefits out of payroll taxes and its cash reserve, there’s no need for Congress to vote each year to authorize benefits — they just keep going out until further notice. However, once those resources become insufficient, benefits will fall —by 17 percent according to the Trustees — unless Congress passes new legislation that “tops up” Social Security’s finances. Yet the current administration and Republican party are such extremists that there is a real risk that Social Security will be held hostage on behalf of their goals. If this should come to pass, the hostage-takers will claim that shoring up Social Security is unaffordable. Right on cue, Mike Johnson, the Trump-sycophant Speaker of the House, declared on Monday that “entitlement programs” like Social Security “have to be adjusted and fixed,” and that Republicans will introduce a plan to that effect next year. But this is a ploy, because while the cost of maintaining Social Security benefits at their promised level isn’t trivial, it is in fact affordable. According to the Trustees’ report, the actuarial balance of OASDI up through 2050 — the amount of additional funds it would need to keep paying full benefits for the next 25 years — is 1.06 percent of GDP. To put that number in perspective, the Trump administration proposes increasing military spending next year by $420 billion, equivalent to about 1.4 percent of GDP – without any discussion of whether that’s affordable Yet how did we get to the point where Social Security will need to be topped up? The main answer is that we have an aging population, with a growing ratio of retirees collecting benefits to workers paying into the system: Trump’s anti-immigration policies are making this problem worse. According to the Trustees’ report, lower immigration will deepen Social Security’s financial hole because many immigrants are working-age adults who will pay into the system for decades before they collect benefits. In fact, this problem may be much bigger than the report acknowledges: The report’s baseline assumption is that we’ll have net immigration of almost 1.2 million people a year, and even the pessimistic case assumes 750,000 a year. Meanwhile actual net immigration has already been cut far below that — and may now be negative. Moreover, Social Security is being financially damaged by growing income inequality in America. Payroll taxes are levied only on wages up to $184,500, and they don’t touch capital income. With the distribution of income increasingly shifting from labor to capital, as well as becoming more unequal among wage-earners, revenue from the Social Security payroll tax has been falling as a share of national income. From 1990 to 2024, it fell from 5.02 percent of gross domestic income to 4.46 percent. Which brings me to the question that, these days, we ask about everything: How might Social Security be affected by the advent of AI? A short answer: If, as many of us fear, AI accelerates rising income inequality, it will further reduce the payroll tax receipts that currently pay for Social Security and further endanger its finances. On the other hand, if AI, as its advocates promise, leads to faster economic growth, it will increase the potential tax base that could and should be used to support Social Security and other social insurance programs. But to take advantage of that larger base, we’ll have to get serious about taxing wealth and capital income. Is Social Security in trouble? Yes, but only because of the way its financing is currently structured — a structure that no longer works well because our society and economy have become so unequal. Moreover, Trump’s immigration policies are further endangering its already deteriorating financial condition. So don’t believe Republicans’ gaslighting that it will be necessary to cut Social Security benefits. All that is necessary to preserve Social Security is political will to raise taxes on the wealthy and a sensible immigration policy. MUSICAL CODA Actually 67 under current law.
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