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Vehicle crashes into the front of Lisbon business, major traffic impacts
A vehicle crashed into the front of a business on Route 196 in Lisbon on Wednesday morning, knocking out power and creating major traffic issues.
Chartbook 464 The"China squeeze" - the politics of development counterfactuals.
There are three types of China shock discourse. Each has a distinct temporal register. China shock 1.0 was a phrase coined by US academics in the 2010s to retrospectively summarize the impact on particular US labour markets, which they identified through painstaking empirical investigation. China shock 2.0 on everyone’s lips in Europe in the mid 2020s is an alarm raised by trans-Atlantic policy thinkers warning of a coming disaster which they project onto Europe’s ailing car industry. The third type of China shock discourse - commonly known as the “China squeeze” launched most recently by Indian economists Shoumitro Chatterjee and Arvind Subramanian in the pages of Foreign Affairs - mobilizes a different, more speculative temporal register: the counterfactual realm of alternate history. The China squeeze argument asks not what has happened, or what is going to happen, but what might have been. Specifically, what options for economic development might have been open to Global South economies like India or the economies of sub-Saharan Africa, had it not been for China’s spectacular industrialization since the late 1990s and the persistent competitiveness of China’s manufacture in low-skilled segments. Chatterjee and Subramanian’s argument is that whilst China has built a powerful position in electrical machinery and other high-skill manufacturing, which is now delivering China Shock 2.0, it also continues to run a trade surplus in low-skill, labour-intensive manufacturing. This surplus is large and has remained largely unchanged in fifteen years. Indeed, in the 2010s, in trade with low-income countries, China’s surplus rapidly increased. On their reading, this squeezes low-income producers in low-skill sectors in which they “should” be able to compete. Source: “China’s Mercantilist Squeeze on Developing Countries” Shoumitro Chatterjee and Arvind Subramanian. Peterson Institute for International Economics 26-7 May 2026 Chatterjee and Subramanian’s wording is telling: (emphasis mine) The canonical trajectory of economic development in the post-World War II period is for countries to transition from agriculture to manufacturing, first in low-skilled manufacturing and then later on to high-skill manufacturing (Herrendorf, Rogerson, and Valentinyi 2013). At the global level, this implies that high-income countries (HICs) that once specialized in low-skilled activities cede manufacturing export space to poorer countries that come along to occupy that space. In 1965, advanced economies accounted for about 60 percent of global value-added exports in four key low-skilled manufacturing sectors, i.e., apparel, leather, textiles, and footwear. Over time this share declined and began to be occupied first by the East Asian tigers and, beginning in the late 1990s, by China. Today China accounts for about 50 percent of the global market. The question is whether China, with its rising prosperity, is continuing to behave like its richer counterparts and ceding export space to poorer followers or to behave unlike them and continuing to occupy space. In terms of the conceptual maneuvers it performs, of the three China shock discourses, the “China squeeze” argument is by far the most ambitious. After all, it bases its critique of China on a counterfactual imagining of the world. Like any counterfactual argument, to construct this alternative reality it must rely on a heuristic model. To make their argument Chatterjee and Subramanian mobilize two key claims. The first reference point is the actual history of rich-country industrialization, what they refer to as the “canonical path”. The idea is that countries transition from agriculture to light industry and low-skilled manufacturing and from there up the value chain. To make this useful as a standard of comparison and a means to construct a normative standard, they adjust sectoral export shares for two factors: 1. the underlying level of economic development of the exporting country, as measured by national income and 2. the degree to which the sector in question is internationalized. The idea being that for a high income country to have a high export share in low-skill sectors is anomalous and even more so if that particular product is highly internationalized and thus suitable for being “conceded” to lower-income competitors. Where should this process end? Here Chatterjee and Subramanian introduce their second benchmark. Their normative idea of a global development path is one in which, in due course, low-skill manufacturing exports are distributed in proportion to a country’s share in the global labour force. They imagine, in other words, a world of proportional, polycentric global development without much national specialization in low-skill manufacturing. A useful benchmark is that, in labor-intensive manufacturing sectors, a country’s share of world exports should be broadly commensurate with its share of the world’s low-skilled labor endowment. … In the Heckscher-Ohlin model, this would be true if value added per worker and export propensities, i.e., fraction of output that is exported, are the same across countries. It is this pleasant liberal vista of orderly global development, progressing towards a general distribution of low-skilled manufacturing against which they judge reality and conclude that the low-income countries are suffering a “China squeeze”. China is not exiting low-skill sectors fast enough Allowing for its gdp level and the degree of globalization, China’s share of low-skill manufacturing exports is far higher than it “should” be. Relative to population, its low-skill share of exports is far too high. That in turn yields the conclusion that huge numbers of jobs - the authors suggest tens of millions - are being hoarded by China. For the four sectors captured in figure 4, this excess in value-added exports is $110 billion in 2022. For all low-skilled sectors overall captured in appendix figure D.1, excess value-added exports amount to $365 billion. The crowding out of LMIC exports by China is therefore substantial. Both these claims have in common that they are strong structuralisms. The first is that development paths ought to resemble each other. The second is that broadly speaking as far as low-skilled manufacturing is concerned, all countries are alike. If the world currently diverges from the distribution of trade implied by these assumptions, if China is not following the advanced economy path and has huge exports, this must be the result of “policy”, which the authors then put in question as illegitimate or unfair. Thus the naturalistic construction of a canonical path leading to a “level” distribution of low-skilled manufacturing reveals itself to be a polemical tool. From the point of view of China shock polemics, this discourse is no doubt welcome. But as an account of economic history, it must surely be regarded as nothing short of bamboozling. Development paths do not follow a regular, natural sequence. As David Fishman put it aptly, “development is not a queue”. They are always and everywhere, through and through political. Development is not so much a process, as a project. Each such project is more or less well adjusted to its context. As Gerschenkron taught uneven and combined development implies differentiation rather than simple imitation on a single parth. It may be true that Europe and the US exited relatively early from low-skill work. But clearly technology has changed. As C&S themselves point out, China no longer enjoys a low wage environment. Do they really believe that such huge differences can be accounted for either by industrial policy, which as they admit does not operate powerfully in low-skill sectors, or by exchange rate manipulation? What is overwhelmingly dominant in explaining the persistence of “low-skill” manufacturing in China are surely the network effects of complex supply chains. Indeed the label of “low-skill” may miss the point. The degree of globalization which Chatterjee and Subramanian decide to conjure away in their model of the development path - to allow for the fact that Europe and American textiles exporters did not enjoy just-in-time logistics in the 1950s - obscures the point that the networks through which Chinese factories supply the world are themselves key parts of the low-skill industrialization project. China isn’t knocking out 1970s style “cheap”. It has redefined the entire product cycle. C&S’s casual reference to “T-shirts” is telling. In today’s “fast fashion”, there is weight on both terms. Fashion and fast. China’s success in delivering on both at unprecedentedly high speed and at unprecedentedly low cost, isn’t a low-skill operation at all. If we see development trajectories not as the serial repetition of the same, but as distinctive, crafted projects that cumulate in complex agglomerations of skill, technology and labor, then this explains why the assumption that low-skilled manufacturing should follow the distribution of population flies in the face of all experience. As countless cases attest, low-wage, low-income developed economies are not by themselves the makings of a competitive production base. As Leon Liao puts it quite fairly: “International trade has never been allocated according to population. A country’s population gives it no natural claim to an equivalent share of global exports." And the remarkable fact is that Subramanian alone and with co-authors has long been making this point, not to pillory China, as is the case of the tendentious _Foreign Affair_s and Peterson pieces, but to highlight the great counterpart to China’s industrial success, namely India’s relative failure. The much-quoted Foreign Affairs piece showed low-skill export shares only for China, not for India. If you put both countries in the picture as Chaterjee and Subramanian have done on other occasions, the picture looks like this. China is far above the line, but India, almost as large in terms of population, is no less anomalous, just in the opposite direction. As far as global populations are concerned, and the imagining of tens of millions of “squeezed” jobs, it is this Sino-Indian pair that account for a huge share of the action. What this graph reveals is not China’s cheating, but India’s “greatest development failure”, at least this is the argument made Arvind Subramanian, this time in co-authorship with Devesh Kapur, in their major book, A Sixth of Humanity. Independent India’s Development Odyssey which appeared with Oxford University Press earlier this year. In this highly critical work on India’s development, China is repeatedly evoked, not to criticize but as a benchmark against which to illuminate what India’s political economy has not delivered i.e. large-scale formal employment for hundreds of millions of citizens. Kapur and Subramanian leave no doubt, if you want to understand why China, not India was the main driver of manufacturing globalization from the 1980s, don’t look to slots opening up in the division of labour thanks to the liberal mindedness of advanced economies, look to the contrasting political economy of the Maoist PRC and India’s post-independence political economy. As Kapur and Subramian note: The great divergence between China and India did not begin in 1978 with the Deng reforms—it was well underway by then. In one of the great ironies of modern history, the conditions created by Maoism turned out to be a great launching pad for industrial globalization. As the comparison of India and China in 1980 makes clear, to imagine manufacturing would be equally distributed when populations are so differently endowed in terms of educational and nutritional is fanciful. Here is the data from Kapur and Subramanian, data which I explored back at the very beginning of Chartbook. As Kapur and Subramanian insist, the striking fact is that even as India’s growth accelerated from the 1980s, structural change has not. Formal employment in India lags woefully behind. Why? As Kapur and Subramanian note, the path-dependent impact of India’s poor early start was devastating. The list of factors they mention is long and weighty: We argue for a new five-fold explanation applicable at different stages of Indian history: in the initial stages, the legacy of two key pre-1980s policies, the neglect of agriculture and the strangling of the domestic private sector, were critical. The failure of broad-based agricultural growth militated against rural industrialization, which would have been devoted to satisfying local needs that would have necessarily been labour intensive. Then, when the boom came after 1980, the thicket of regulation and broader labour protections that were legislated prematurely in a nascent democracy, underpinned by a deep ideological aversion to private capital in general and big capital specifically, became a barrier to attaining the size that would be necessary to compete globally. Similarly, the reforms after 1991, while wide-ranging, did not quite encompass non-tradeable inputs critical to manufacturing, namely, land, logistics infrastructure and power. A combination of low investment (logistics infrastructure), regulation (land) and the continued monopoly supply by state governments (power), combined with residual socialism, kept costs at 75–100 per cent above efficient supply. These factors were compounded on the supply side by the government, which dominated the formal labour market and established exorbitantly high wages at the lower end of the skill spectrum. This made their employment in the labour-intensive sector by the private sector less attractive. Finally, when the services sector and its exports boomed, wages soared even further via a Dutch Disease effect: one successful tradeable sector killed and cannibalized another less-skilled tradable sector, namely, manufacturing. Thus, scarcity-inducing policies of the planning era, precocious democracy and a Gandhian aversion to size; inefficient, monopolistic supply of critical non-tradable inputs; the behemoth of government; and super-successful skill-intensive services successively undermined India’s unskilled labour employment opportunities. The employment failure seems to have been over-determined. … Less quantifiable but no less important are some of the sociological factors that have undermined manufacturing and factory jobs. Take the impact of the success of the IT sector—located in urban areas with better working conditions, such as air-conditioned offices, good schools for children and attractive entertainment options. It became a more attractive place for engineering and management graduates to flock to. … Consider manufacturing and female employment. Indian society makes it difficult for women to work, reflected in India’s unusually low female labour force participation (elaborated in Chapter XIII). Indian society, in particular the routine harassment of women in public spaces, makes it even more difficult for them to travel long distances to take up work.37 Combined with onerous regulations on creating hostels and dormitories for women—which, in turn, prevents multiple shifts of operation—factories need to be located in areas with a large female labour pool. While firms can take apparel plants to female labour or bring them to the plants by building large-scale dormitories, this raises costs. If there was a case for subsidies to encourage labour-intensive manufacturing, housing subsidies to build dormitories for women workers would be a good place to start. All of this meant, that when opportunities did open up, in part thanks to adjustments in China, India was in no position to take advantage. Here is the account of the 2020s from Kapur and Subramanian. It stands in dizzying contrast to the one-sided, “China squeeze” argument delivered in the Peterson and Foreign Affairs pieces: In 2022, for example, India’s share of global exports in clothing (the canonical labour-intensive sector) was 3.1 per cent compared to 32 per cent for China. This is extremely disappointing because China started vacating export space in this sector after the Global Financial Crisis as its wages started rising; it then vacated further space in the aftermath of geopolitical developments that led investors to seek alternative investment locations. Between its peak and today, China lost about 7.5 percentage points of global export share (worth about $43 billion in 2022); over this period, India’s export share remained stagnant at 3 per cent, while that of Vietnam and Bangladesh rose by 3.5 to 4 percentage points. China’s loss did not translate into any gain for India in terms of low-skill exports and employment. Put differently, when the conditions for dynamism and prosperity were established after 1991, and even more tantalizingly when the global export opportunities opened up, it was as if India was a high-wage economy and only skilled labour could benefit from the dynamism. It had converted its physically abundant unskilled workforce into an economically expensive resource, penalizing its use. It is not my mission here to argue for or against Kapur and Subramanian’s interpretation of India’s development trajectory. The point in this context is simply that the “China squeeze” such as it is can only be understood, in relation to the heavy burden of domestic constraints that Kapur and Subramanian so unsparingly enumerate. I am concentrating here on India because it is the great counterpart to China and the unspoken reference point of the “China squeeze” discourse. But the point is more general. Can anyone with a straight face suggest that the main problems afflicting the development of South Africa or Nigeria, the great centers of mass underemployment in sub-saharan Africa, are cheap competition from China driven by Beijing’s industrial policy and an undervalued RMB? Likewise, is the main problem of the American working-class the threat of Chinese competition or the manifest crisis of social reproduction in the United States itself? The point here, as in the discourse around China shock 2.0 in Europe, is to insist that we should not normalize the world and pathologize China, without actually investigating what is going on in America’s industrial wastelands, the German car industry, or India’s lopsided labour market. One-sided pathologization should be understood for what it is, a polemical gesture. Concepts like China shock and China squeeze are, what Reinhart Koselleck, following Carl Schmitt, would have described as “asymmetrische Kampfbegriffe”, or “asymmetrical counter-concepts” or “asymmetrical combat concepts”. If the function of arguments like the “China squeeze” is to alert elites in the rest of the world of the need to rejuvenate and energize their development projects, so be it. But let us see the resulting discourses as the mobilizing interventions that they are. Interestingly, a significant slice of China’s public sphere - the so-called industrial party - have been obsessed for the last twenty years with precisely these questions of counterfactual economic history. Since the mid 2000s, a massive online discourse developed around an alternative history in which Chinese techno-patriots were asked to imagine how they would proceed if they had the possibility of traveling back in time to transport modern technology into the Ming dynasty (1368-1644) thus averting the “great divergence” of the 18th and 19th centuries. It is a fantasy of course, but also a goad. The point was not directed at Westerners. The alternate history is dramatically nationalist, but few n the West had even heard of it until recently. The adherents of the industrial party are not liberal moralists. They don’t project natural ladders of international development and ask why others don’t cede space. They take the Realpolitik of global economic development for granted. Their pointe was directed against fellow Chinese. The rallying cry of the alternative narrative was this: Now that we are beginning to gain steam and push forward on our national development path, now that we are breaking out of the inferior position assigned to us even in the early years following WTO accession, do not lose yourself in humanistic imaginings about better futures. In the spirit of Deng, they called on China to embrace the hard truth of development. Perhaps one might of the Industrial Party as a cultural trend born out of desire for symbolic revenge against those who had inflicted the century of humiliation. In terms of the various temporalities of the “China shock” - retrospective, prospective and counterfactual - one might think of the Industrial Policy discourse as truly speculative, conjuring up the China shock that never was. Or perhaps one might better think of it as imagining a world in which a powerful China was no shock at all, but simply a defining fact of modern history. I love putting out Chartbook. I am particularly pleased that it goes out for free to thousands of subscribers around the world. But, writing this newsletter takes a lot of work. If you are enjoying it and would like to support the project, sign up for one of the subscription options here. It is the equivalent of a fancy cup of coffee per month! Subscribe
'Iran War Participation Trophy' for Trump is on tour, joins Instagram
A 10-foot sculpture of a golden trophy made for President Trump by the anonymous arts activist group Secret Handshake is officially on tour, with an Instagram page and appearances in D.C., New York and Minneapolis.
Rep. Chuck Edwards withdraws reelection bid
"I will complete my current term," the U.S. House representative said Wednesday morning on social media.
Rep. Chuck Edwards withdraws reelection bid
"I will complete my current term," the U.S. House representative said Wednesday morning on social media.
MrBeast Sales Slow, Angel Stock Falls, MUBI and Neon Look for Hits, and Will an NBA Franchise Set a Sales Record?
(Welcome to the Entertainment Strategy Guy, a newsletter on the entertainment industry and business strategy. I write a weekly Streaming Ratings Report and a bi-weekly strategy column, along with occasional deep dives into other topics, like today’s article. Please subscribe.) You probably remember egg prices spiking a few years ago. This led to a lot of debate between the pro-market/pro-competition/antitrust/Neo-Brandesian crowd and the center/center-right/center-left/abundance/libertarian crowd over the cause, whether it was the avian flu outbreak or whether industry consolidation led to price fixing, using avian flu as a convenient cover. Basel Musharbash wrote a whole investigation at BIG looking at it. Well, two years later, we have our answer: it was price fixing. The Justice Department found proof, via emails, of price fixing. Indeed, just the threat of an investigation brought prices down two years ago: I bring this up because at least half a dozen of my favorite political writers and pundits, who were skeptical about price fixing at the time, haven’t written any mea culpas on this issue. It’s really dispiriting and makes it much, much harder to trust their work on other issues. If you take a hard stand on an issue, then you get it wrong, you need to explain how and why you got it wrong. Or update your priors. This is how epistemological bubbles are formed! All of which is to say, it’s time for another installment of “What I Got Right, What I Got Wrong”. Last issue, I mostly focused on the “wrong” side of the equation, so today’s is a bit more balanced, but with one big mea culpa (though I still stand by my original concerns). Let’s dive right in! Subscribe CORRECTION: UFC Didn’t Release Subscriber Data (But Seems to Have Bragged About It Internally) In my analysis of the viewership of UFC Freedom 250, I wrote... “Paramount has also released datecdotes bragging about their subscriber numbers. Earlier this year, they claimed that the first UFC fight on Paramount+ brought in 1 million subscribers.” Well, that datecdote did not come from a PR rep, but from great reporting from James Faris at Business Insider. The actual quote was this: “Paramount’s flagship streaming service generated about a million new subscribers on the day of its first-ever UFC event, Paramount product chief Dane Glasgow told employees in a town hall on Tuesday morning, three staffers who attended the meeting told Business Insider.“ This wasn’t the biggest goof in the world; even Faris emphasized to me that this is more a “clarification” than a correction. Still, it sounds like, internally, the folks at Paramount were very happy about this result—and I’m guessing they were happy with this news getting out—even though the gains didn’t last through the quarter, dropping to 700K adds. RIGHT: MrBeast’s Struggles Continue... I’m very skeptical about MrBeast’s burgeoning media “empire” and, in particular, its $5 billion valuation, as I wrote earlier this year and last year. Sure enough, according to Business Insider, regarding its “booming” consumer products division_:_ “US sales volume grew 13% year-over-year in 2025, following a 33% leap the previous year, according to a presentation deck dated May 2026....A February 2025 investor deck viewed by Business Insider showed Feastables’ net revenue more than doubled in 2024 from 2023, to $215 million, and was forecast to grow 74% in 2025, to $375 million.” [Emphasis mine.] If you told investors that you projected 74% growth but delivered 13%,1 that’s not ideal. But it’s not just MrBeast. Logan Paul and KSI’s Prime had sales drop in half for their energy drinks. It’s one thing to build a successful entertainment company and an entirely different thing to succeed in the heavily-consolidated-but-also-very-competitive consumer packaged goods space! CPGs are dominated by a few firms with very wide moats compared to YouTube, which has few barriers to entry. These businesses require different skill sets and have completely different business environments. WRONG: Does the NBA Have an $8 Billion Bidder? Almost as soon as I published my article about the NBA’s finances, casting skepticism on NBA expansion, I saw this Front Office Sports headline: One group “claims to have already raised $8 billion” for the Vegas expansion team. I mean, wow. That’s just $2 billion less than what the Los Angeles Lakers were valued at when they were sold just last year. And they’re arguably the most popular team in the NBA. (Side note: the new owner is now under an investigation for fraud in how he went about financing the Lakers and the Dodgers purchases.) So much for the “dried up” language I used in that article. (This is why I usually stick to my “Entertainment Nuance Guy” tone in articles...) I went off old information—from April, when I read/heard about the NBA downplaying expansion efforts—instead of doing a quick double-check for new news. That said...if you read the article, the market for Seattle is “slow”, with just one reported bidder. So I wasn’t entirely off. This goof has annoyed me since I first published it, mainly because it undercut that article’s real point, which I stand by: NBA franchises are really overvalued right now. Now, I get why NBA teams are overvalued. When it comes to owning sports teams, it’s basically never wrong to assume that some rich person somewhere will care more about owning a team (or just being part of a group since they’re so expensive) than the actual financials. There are only so many teams to own, and opportunities to buy in preferred markets don’t come along very often. This explains why the teams sell for such high multiples (usually above a 10 to 12.5 revenue multiple, which is very high). You only need one person to overpay! Beyond the ultra-wealthy luxury good explanation, I worry NBA teams are becoming speculative assets. More and more private equity investors are buying into NBA teams. But the value, in owning a team, comes from selling it later, not any meaningful relationship to revenue or profit growth. In other words, the newer NBA owners are increasingly expecting someone later to buy their inflated asset. That’s not sound economics; that’s the “greater fool” theory at work.2 At some point, actually making money has to matter. Especially since revenue growth is now below the growth of the stock market. (And this matters because the NBA doesn’t have easy levers to pull to drastically lower their costs—half of their revenue has to go to players and then you actually have to run a team, including coaching, training, travel, media expenses, and more—or raise revenues aside from one-off expansions in America and overseas.) I just don’t see how investors make their money back buying NBA teams, except for selling at a higher price later on down the line. But if revenue/profit growth continues to slow, at some point, someone will be left holding the bag. RIGHT: Baseball and Basketball are about equally popular. Related to the above, I wanted to cite two quick pieces of evidence for one of my other theories: that the NBA and MLB are about as popular as each other, but the NBA gets much, much better media coverage. One YouGov survey has that fans prefer basketball to baseball by 52% to 48%, which I’m guessing is within the margin of error for that poll. That’s virtually even, meaning they’re about the same popularity. Over on NBC, a recent Red Sox-Yankees game averaged 4 million viewers, higher than Sunday Night Basketball’s average of 3.4 million on the same network. A Yankees-Dodgers game averaged 3.9 million two weeks ago. Not every game averages this much, but it shows you that baseball isn’t far off from basketball, depending on the matchup. Altogether, the NBA is just slightly more popular than baseball, but NBC is paying MLB a fraction of what they pay the NBA, a point I’ve made before. RIGHT: Angel, MUBI and Neon Updates... I’ve long been skeptical about many of Hollywood’s buzziest startups/smaller indie studios. It’s not that they don’t make great movies—films like Anora and Everything Everywhere All at Once are amazing—or that they’re not (rightfully) pushing the majors to make better films, but...they get a ton of hype, and that hype often doesn’t live up to the reality or difficulty in scaling up. Starting with MUBI, well, The Wall Street Journal wrote a feature on MUBI’s struggles last April, best summarized by the subheader “After Sequoia valued Mubi at $1 billion, a left-wing revolt sent the indie film company into a tailspin”. MUBI lost $7.3 million on $200 million in revenue in Q4 2025, but reportedly hit a record 1.7 million subscribers at the end of Q1. As for Neon, Department M purchased a “significant stake” in the company earlier this year. How much is that “stake” worth? According to Deadline, “No financial figures for the Neon-Department M deal were disclosed.” So...that’s not great! If it was a big valuation, we’d hear about. Also, I found this curious: “Both Neon and Department M already have separate partnerships with Qatar. The Qatar Film Committee has a slate deal in place with the former, and a biopic production pact with the latter.” Color me skeptical about much Middle Eastern investment dollars. See: LIV Golf. Finally, as for Angel (formerly Angel Studios), their stock very, very slightly popped last month after Young Washington ($20 million budget) which made $45 million in the US, but their stock is still way down from its opening. Smaller Updates RIGHT: The WGA should focus on antitrust concerns! I’ve been on this for years. Post-WGA/AMTPT deal in 2023, I wrote an article for the Ankler calling on the WGA to focus and organize against industry consolidation. Sure enough, the WGA filed a lawsuit against the Paramount-WBD merger, and people are organizing around this issue now. I wish this energy had coalesced earlier (specifically to lobby Washington much earlier), but better late than never! WRONG: Actually, the chip shortage might be due to market manipulation. In my last “Long Reads for the Long Summer” article, I shared an article about how LLMs are causing memory chip prices to spike, which will make all electronics more expensive. Well, turns out, three RAM manufacturers control 90% of the market, and now a private lawsuit accuses them of price-fixing. So yeah. WRONG/UPDATE: The Odyssey will hold! Two weeks ago, I wrote, “As of this moment, we haven’t had a super-blockbuster, though The Odyssey, Spider-Man: Brand New Day and Avengers: Doomsday could all cross the $500 million mark. (At this point, The Odyssey would need a very strong hold to get there.)” Well, it’s safe to say it’s going to have that hold! It only dropped 30% in weekend two and IMAX screenings are sold out all month. Spider-Man: Brand New Day is also off to a great start. RIGHT: People are rushing to get shows out yearly. I’ve long been bullish on yearly, weekly-released shows, and Leslie Goldberg at The Ankler wrote about how many people in town are now listening. WRONG: Mark Carney reverses Canada’s stance on homegrown production. After writing about Canada installing domestic production quotas, Canada has backed off. WRONG: I don’t trust Spider-Man: Brand New Day’s online “views”. When I originally wrote about the latest Spider-Man film’s record-breaking trailer, I thought this was just YouTube views, but after watching this Corridor Crew video and doing more research, well, it’s all social views of the trailer globally. Really? That stat includes TikTok, Reels and YouTube Shorts views. Basically, I don’t trust it anymore. (This film will probably set record, but I trust the pre-sales data more.) RIGHT: Celebrity Production companies are still struggling. I’ve written about this for years, but the company that I didn’t track was Kevin Hart’s HartBeat, which was valued at $650 million but is struggling now and might just end soon, especially after Kevin Hart pulled his endorsement deals. And Bad Robot is moving to NYC. CORRECTION: SpongeBob is a “second run” title. In my 2025 recap article, I had _SpongeBob SquarePants_labelled as a “library” title, when it is still a “second run” show, with new episodes still coming out on Nickelodeon. CORRECTION: In my last “What I Got Right, What I Got Wrong” update, I offered a correction from Doug Creutz and misspelled TD Cowen. Thanks, Grammarly! 1 Though he could have increased prices to make up for the gap, he couldn’t have increased them that much. 2 There’s a theory, which I think that Daryl Morey created and Bill Simmons popularized, that, to be successful building your team, you only need a handful of bad GMs in the league to take advantage of. To be clear, Daryl Morey’s theory was also for signing bad contracts, that you could always get out of bad contracts. Basically, there’s always someone who will make a bad trade. It’s not the same exact thing, but similar enough to the Greater Fool Theory that I really like it.
Watch live: Senate convenes Medicaid hearing as work requirements face scrutiny
Health experts on Tuesday morning will testify before the Senate Budget Committee on Medicaid, just months after the Trump administration issued a new rule requiring states to implement work requir…
Trans federal employees sue over revoked health coverage
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Flash flooding closes roads, impacts businesses across northern Connecticut
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New Boone Health ambulance station improves response times in south Columbia
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Philadelphia Phillies Acquire 4-Time All-Star in Blockbuster Trade
The MLB trade deadline is set for Monday at 6 p.m. ET, giving teams just a few more hours to make any significant, season-altering moves. The Philadelphia Phillies wasted little time Monday morning, pulling off what could be one of the biggest deals before the deadline in a blockbuster trade with the San Francisco Giants. […] The post Philadelphia Phillies Acquire 4-Time All-Star in Blockbuster Trade appeared first on HEAVY.
Chevron CEO reveals why AI could transform the energy business for decades
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Phillies add batting champ Arraez, reliever Raley in pair of deadline deals
The Phillies pulled off a couple of trades Monday morning as the 6 p.m. deadline for making deals approached.
CT Business Blend: Aug. 3, 2026
Hartford Business Journal’s Greg Bordonaro and WTIC’s Brian Shactman explore the people, companies and trends shaping Connecticut’s business scene every Monday at 8:30 a.m. on WTIC 1080 AM.
Billionaire Ken Griffin Again Backs Pochettino’s USMNT Contract
U.S. Soccer has signed men’s national team coach Mauricio Pochettino to a new contract through 2030, a deal that was financed in part via contributions from Ken Griffin, the billionaire founder of Citadel. The extension, announced Monday morning, comes less than a month after the conclusion of the 2026 men’s World Cup in North America. …
New York’s assisted-dying law moves forward
Medicaid work requirements in effect in Nebraska, AI scribes in med school, and more health news from Morning Rounds
Matthew Whitaker breaks down Trump's strategic deterrence on Iran
U.S. Ambassador to NATO Matthew Whitaker joins Cheryl Casone on ‘Mornings with Maria’ to discuss President Donald Trump's decision-making regarding Iran, emphasizing strategic deterrence over escalation.
Chiefs News: Padded training camp practices begin today
The latest Chiefs news, brought fresh to you every morning!
Morning Report: It's Politics Monday
We’ve opened up this week’s Politics Report for everyone because there is a lot. First: SB 958. The Midway Rising project provoked this bill in Sacramento that would exclude the […]
The MLB trade deadline is here, plus Rodgers talks reconciliation
The Pulse Newsletter 📣 | This is The Athletic’s daily sports newsletter. Sign up here to receive The Pulse directly in your inbox. Good morning! It’s great to be back with you. Coming up: ⚾ MLB trade deadline latest ⚽ Soccer mess deepens 🗣️ Rodgers speaks out Just 12 hours separate the time this email landed in your inbox and MLB’s trade deadline at 6 p.m. ET today. It’s easy to wonder if there will be any intrigue at all, with the market’s biggest name already settling into his new Dodger home. Let’s catch up on yesterday’s deals before we get to today:...
What I learned running with Jon Gray and 100 Blackstone analysts
I spent my Thursday morning jogging with Jon Gray and Blackstone analysts, and felt firsthand the business value of his social media jogging videos.
Houston's Barbecue Inn to serve its final meals after nearly 80 years in business
Since the announcement, lines have formed outside the restaurant. ABC13 crews at the scene saw a line wrapped around the building on Saturday morning.
Texas Stock Exchange opens for business
FOX Business reporter Lauren Simonetti discusses the opening of the Texas Stock Exchange in Dallas on 'Mornings with Maria.'
Savannah Guthrie, Craig Melvin's public crises are latest for 'Today' family
The "Today" show calls itself a family – one that has broadcast into America's homes each weekday morning for more than seven decades.
Republican Victor Marx taps George Markert as his lieutenant governor pick in Colorado’s gubernatorial race
Colorado Republican gubernatorial nominee Victor Marx named George Markert, a retired Marine colonel, as his running mate for lieutenant governor Friday morning, saying the former U.S. Senate candidate will bring “exceptional character, proven leadership and a lifetime of serving others” to the ticket. Marx is facing Democratic nominee Phil Weiser, the state’s attorney general, and […]
New York City health department says UES Legionnaires' cluster exposure has ended
The New York City health commissioner shared encouraging news on Friday morning about the deadly Legionnaires' outbreak.
ATM stolen from business in downtown Chicago
An ATM was taken during a smash-and-grab burglary in Chicago's Loop early Friday morning.
Mid-Michigan entertainment for the weekend of July 31 to Aug. 2 and beyond
Check out what’s going on in the area.
Texas economy booms as businesses, residents flee high-tax states
FOX Business correspondent Lauren Simonetti reports on how Texas' business-friendly environment and low regulations are attracting major companies on ‘Mornings with Maria.’
Baxter turnaround gains traction with strong results, higher outlook
Shares in Baxter are up 10% this morning.
Ebola outbreak nears milestone, but vaccine is close
Medicaid work rules, FTC sues Hims, and more health news from Morning Rounds
Generation Z wants significant change in government
Good morning, and welcome to the first edition of The Feed. We are three Generation Z editors at The Hill working to understand the ins and outs of our generation’s politics. Each week, we’ll…
Poland Likely Hit by Russian Missile, Premier Says
A Russian missile probably fell in the eastern part of Poland early morning on Thursday, Prime Minister Donald Tusk said.
Federal appeals court hears Maine test case on regulating super PACs
The U.S. Supreme Court’s landmark decision that struck down limits on independent political spending does not need to be overturned to rein in Big Money in politics, Neal Katyal argued before the U.S. Court of Appeals for the First Circuit in Boston on Wednesday in defense of Maine’s 2024 referendum regulating political spending.
Chemical mix-up leads to hazmat response at Huntington Beach business
A hazardous materials team responded to what appeared to be a chemical mix-up that caused a reaction Wednesday morning at a business in Huntington Beach. The business in the 15200 block of News Boy Circle was evacuated after firefighters and hazardous materials experts responded to the property. Authorities said a chemical was mixed into another chemical in a 55-gallon drum,…
New Pixel 11 Pro ‘next obvious move’ teaser provides better look at Glow [Video]
With Made by Google 2026 now two weeks away, Google has released a new Pixel 11 Pro teaser this morning...
Early morning fire hits Peoria business
A Peoria business is reeling after a fire earlier Wednesday.
City auctioning off Knicks 'Champions Way' street sign
Bidding began at $100 on Wednesday morning and will last until 8 p.m. on Wednesday, Aug. 12.
Prosecutors say Charlie Kirk was attacked for his politics, US judge blocks Houston's minority contracting program and more ➡️
☀️ Good morning from The Legal File! Here is the rundown of today's top legal news: 📝 EEOC stopped hearing federal workers' class action cases, union claims in lawsuit REUTERS/Andrew Kelly The U.S.
It's finally here: Opening day for the Ohio State Fair
Even early in the morning, there was an array of different food trucks and vendors getting ready for the big day.
It's finally here: Opening day for the Ohio State Fair
Even early in the morning, there was an array of different food trucks and vendors getting ready for the big day.
What To Expect From Sphere Entertainment’s (SPHR) Q2 Earnings
Content production and distribution company Sphere Entertainment NYSE:SPHRwill be announcing earnings results this Thursday morning. Here’s what to expect.Sphere Entertainment beat analysts’ revenue expectations last quarter, reporting revenues of $386.4 million, up 37.7% year on year. It was a stu…
What To Expect From Sphere Entertainment’s (SPHR) Q2 Earnings
Content production and distribution company Sphere Entertainment (NYSE:SPHR) will be announcing earnings results this Thursday morning. Here’s what to expect...
Multi-agency safely resolves mental health crisis on I-95
Several law enforcement agencies responded to a mental health crisis on Interstate 95 early Tuesday morning.
Morning Download: Nevada basketball will reportedly open season against Robert Morris
On weekday mornings, Nevada Sports Net will recap three big headlines of the day in its Morning Download. Read below for today's topics.1. Nevada basketball wil
Entertainment News: July 28, 2026
Get caught up on the latest in Hollywood, technology, and more with FOX 17 Morning Mix's Entertainment News.
July 28 Playbook: Boyle Talks Politics, Political Future
⚡ Good Morning. Could be an active day in the Commonwealth. Headlines. Boyle Gives History Lesson at PA Press Club. McCormick Says Iran War Costs Won't Take Away From Defense Tech Investments. More Broadband Money Set to Flow Into PA. Animal House at 46 🎶 Your Morning Pick Me Up.…
Anthony Fauci’s pandemic-era diary entries
New data on American substance use, concerns of a global HIV resurgence, and more health news from Morning Rounds
Morning news brief
President Trump to meet with the leaders of Ukraine and Israel, Work permits for thousands of TPS holders set to expire, survey finds many Americans believe corruption is a problem in politics.
WVU Medicine to make "transformative contribution" to health services in Monongalia County
Announcement set for Tuesday morning in Morgantown.
'They're selling us out quickly': Fans take to Latrobe ahead of Steelers training camp
The first practice that's open to the public starts at 11:20 a.m. Wednesday morning.
Nevada Secretary of State opens new business licensing office in downtown Las Vegas
Nevada Secretary of State Francisco Aguilar hosted a ribbon cutting Monday morning for a new business licensing office in downtown Las Vegas.
Fun with Mad Science of Southern Massachusetts & Rhode Island
The power of science has the ability to educate, empower, and entertain which is why this morning we were thrilled to welcome back our friend Jolting Jonathan from Mad Science of Southern Massachu…
'We're coming to them': Hill District block party offers free health screenings amid summertime fun
There was an unusual buzz in the parking lot beside the Hillcrest Seventh-day Adventist Church in the Hill District Sunday morning. Flocks of children...
Two Huge Positives for New England Patriots Training Camp Opens
For New England Patriots fans, it’s been a superb start to training camp 2026. All the news on two key fronts was positive, led by the owner addressing the Christian Gonzalez contract situation early in the morning before the team's first official practice. Gonzalez, as promised by head coach Mike Vrabel in Friday’s opening camp address, was on the field and competing in individual drills with his team.
From Louisiana, the sound of somewhere else: How a geography game connects us
Some morning rituals help us wake up. Others help us feel connected. This one does both.
AI’s getting all up in our business travel
From reimbursements to booking trips, companies are turning to AI to streamline the process of heading out of town.
Everyone is tacking fun onto their business trips
They say never mix business with pleasure...but nothing is stopping you from combining business with leisure.
UT Health sleep expert warns of health impacts if clocks stop changing
Dr. Daniel Rongo, a physician and sleep expert, said darker mornings could reduce exposure to early-day light that helps regulate the body’s circadian rhythm.
LeBron James rode 'emotional roller coaster' before decision
Rich Paul called the lead up to LeBron James' decision to join the Sixers an "emotional roller coaster" that didn't end until early Friday morning.
Zach’s Saturday Morning Sports Recap
Here is a round up of the latest in this week's sport's news.
Troy Jackson officially clinches Maine Democratic U.S. Senate nomination
Former logger from Allagash turned politician Troy Jackson on Saturday officially became the Democratic nominee in the U.S. Senate race for longtime Republican Sen. Susan Collins’ seat.
🚨 Official: Kang-in Lee leaves PSG!
Great sale for PSG!It was expected, and it is now official: Kang-in Lee is leaving PSG!Eager to get more playing time, the South Korean midfielder signed for Atlético de Madrid this Saturday morning!...
Who stands to benefit from ESPN’s recent wave of departures?
This originally appeared in Thursday morning’s edition of The A Block, Awful Announcing’s daily newsletter with the latest sports media news, commentary, and analysis. Sign up here and be the first to know everything going on in the sports media world. ESPN’s summer layoffs opened up real estate across nearly every NFL show the network runs,…
Studio 13 Live entertainment headlines with Jodi and Bender from Mornings on 95.7 The Jet
Studio 13 Live host Mireya Garcia talks with Jodi and Bender from Mornings on 95.7 The Jet about all things entertainment—from a "13 Going on 30" reboot, to talks of a Snoop Dogg biopic, they discuss all the top entertainment headlines.
The Morning Show heads off into the night.
Apple announced that one of its biggest early hits will be coming back for a fifth and final season in 2027. The Morning Show premiered alongside Apple TV as one of its prestige plays, with a notably star-studded cast. The news comes the same day Apple announced a new dating series. [Image: https://platform.theverge.com/wp-content/uploads/sites/2/2026/07/072226_The_Morning_Show_Fifth_Final_Season_Announcement_Big_Image_02.jpg?quality=90&strip=all]
Microsoft outage hits Outlook, Teams, Xbox
Microsoft said Thursday morning that it was investigating issues with its Microsoft 365 services, which includes Outlook and Teams.
Can't log in? Microsoft outage hits Teams, Outlook and more
A widespread Microsoft outage is disrupting access to several websites and applications on Thursday morning.
Car crashes through cannabis business in early-morning burglary
(FOX40.COM) — Police are investigating after a car crashed into a Sacramento cannabis warehouse early Thursday morning. Just before 3 a.m., officers with the Sacramento Police Department responded …
Oakland pop-up restaurant owner pauses business after home break-in, sexual assault of 16-year-old son
Oakland police are searching for a suspect following a terrifying Monday morning break-in that ended in the sexual assault of a 16-year-old boy.
Voters want major change amid economic and political discontent and more top headlines
Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox.
UCI Health - Los Alamitos medical center on lockdown amid massive police response
A medical center in Los Alamitos was placed on lockdown Wednesday morning amid a massive response by police at the facility.
Montello business destroyed in fire
A Montello business was destroyed in a fire Tuesday afternoon, firefighters reported Wednesday morning.
Large Sterling Heights police operation swarms SW Detroit business
Also at the scene was the Drug Enforcement Agency, K-9 police units and officers wearing tactical fatigues and helmets.
Chiefs News: Is 2026 ‘The Last Dance’ for Travis Kelce?
The latest Chiefs news, brought fresh to you every morning!
Cubs BCB After Dark: Would you drink the Hader-ade?
The late-night/early-morning spot for Cubs fans asks if the Cubs should make an offer for Josh Hader.
6 teens arrested after employee attacked inside Rochester business
Six people, including five juveniles, were arrested after a fight inside a business on East Main Street on Tuesday morning, according to the Rochester Police Department.
Lexington-Fayette County Health Department to Spray for Mosquitoes Early Thursday Morning, July 23, in ZIP code 40505
Lexington-Fayette County Health Department to Spray for Mosquitoes Early Thursday Morning, July 23, in ZIP code 40505Lexington, KY – July 21, 2026 The Lexington-Fayette County Health Department (LFCHD) will spray for mosquitoes early Thursday morning, July 23. A mosquito trap deployed by LFCHD at Johnsdale Drive recently caught a large number of mosquitoes, prompting the
College football’s best QBs for 2026, plus poll results
The Pulse Newsletter 📣 | This is The Athletic’s daily sports newsletter. Sign up here to receive The Pulse directly in your inbox. Good morning! Don’t spy on anyone today. Coming up: 🏈 CFB QB tiers 📺 Clark out at ESPN 🗳️ Your poll results As one football leaves us, the next one settles in right on time. The World Cup is in the past now. American football is nigh. It’s time to switch our focus. At least until later in this newsletter. We’ve entered one of my favorite parts of the college football preseason: when predictions feel a little more weighty, just...
In 2025, US scientists poured 16,500 gallons of lye and bright pink dye into the Gulf of Maine, the first federally approved attempt to reverse the ocean's rising acidity
On an August morning in 2025, a research vessel in the Gulf of Maine released 16,500 gallons of sodium hydroxide (lye) into the ocean while a plume of bright pink dye spread across the water's surface. To onlookers, the vivid pink patch looked alarming.
Morning Digest: Lakewood businesses and residents frustrated by constant power outages
Good morning, Cleveland! Here's what you need to know about today's stories on GMC, traffic and weather.
Family stresses need for mental health resources after man's accused of killing his aunt
Columbus family members said they're morning two people - a woman who died and the man accused of killing her."It's just tragedy across the board, you know?,"
Two deer cause thousands in damages at Peachtree City businesses
A wild morning unfolded in Peachtree City on Monday when two deer crashed through the windows of two separate businesses simultaneously.
AMC Entertainment (AMC) Stock Trades Up, Here Is Why
Shares of theater company AMC Entertainment (NYSE:AMC) jumped 17.3% in the morning session after the company reported impressive Q2 2026 earnings results with revenue and Adjusted EBITDA crushing expectations.The cinema chain delivered a blowout second quarter, posting total revenues of $1.60 billion—representing 14.2% year-over-year growth and easily surpassing analyst estimates of $1.47 billion. Profitability metrics were particularly strong, with Adjusted EBITDA soaring to $321.4 million comp
AMC Entertainment (AMC) Stock Trades Up, Here Is Why
What Happened? Shares of theater company AMC Entertainment (NYSE:AMC) jumped 17.3% in the morning session after the company reported impressive Q2 2026 earni...
This Week: Muni 1 Bus Improvements, Car Free Happy Hour, SF Politics 101
Here is a list of events this week. Tuesday Park Presidio and California Evening Pop-Up. This SFMTA project aims to improve the Muni 1 California bus route from 33rd Avenue to Steiner Street. Come learn about it. Tuesday, July 21, 5:30-6:30 p.m., Corner of Park Presidio and California, S.F. Tuesday East Bay Car Free Happy Hour. Whether you’re car free, car light, car free curious, or just want to hang out with fun people and have nerdy urbanist conversations, everyone is welcome. Tuesday, July 21, 5:30-7 p.m., Drake’s Dealership, 2325 Broadway, Oakland. Wednesday SF Politics 101 with Joel Engardio. SF Politics 101 is an entertaining look at how local politics work and the history that shaped San Francisco — brought to life with visuals and narrative storytelling. Wednesday, July 22, 6-7:15 p.m., SPUR Urban Center, 654 Mission Street, S.F. Friday Woman and Non-Binary Morning Ride. Join the San Francisco Bicycle Coalition for a socially distanced bike ride for women and nonbinary cyclists. Friday, July 24, 7:15-8:45 a.m., McLaren Lodge, 501 Stanyan Street, S.F. Saturday Smart City Cycling 3 — Road Practice. In this class, you’ll go on a guided group ride to practice street-riding skills on increasingly high-volume streets. This class is the third in the Smart City Cycling sequence, and Smart City Cycling 2: Maneuvering is a prerequisite. Saturday, July 25, 10 a.m.-12 p.m., Arguello Extension, Arguello Blvd and Lincoln Way, S.F. Sunday Adult & Teen Learn-to-Ride Workshop. This three-hour workshop is for adults and teens who have not yet learned to ride a bike or would like a refresher on the basics of balancing, pedaling, and steering. Sunday, July 26, Alameda Waterfront Park, 2151 Ferry Point, Alameda. Got an event we should know about? Drop us a line.
CT Business Blend: July 20, 2026
Hartford Business Journal’s Greg Bordonaro and WTIC’s Brian Shactman explore the people, companies and trends shaping Connecticut’s business scene every Monday at 8:30 a.m. on WTIC 1080 AM.
Media and entertainment commissioner talks new vertical video film festival
Watch the full interview here.
Better Business Bureau: Be on the lookout for communications from the U.S. Census Bureau
Jo Ann Deal with the Better Business Bureau of Monroe joined Good Morning ArkLaMiss to talk about the American Community Survey (ACS).
As NIL leaks into high school sports, coaches voice concerns of kids 'being abused'
With some Texas high school athletes now able to sign NIL deals, coaches are doing what they can to protect their players.
The daytime habit that could transform your sleep, according to new study
A study of 89 adults found that brighter, more consistent daylight exposure was linked to earlier sleep timing and more deep sleep at night.
World Cup final entertainment kicks off
The 2026 World Cup comes to an end this morning with a match between Spain and Argentina – and a musical line-up featuring some of the biggest names in entertainment.
Parking lot fight leads to fatal shooting outside Southeast Dallas business
Dallas police are investigating a fatal shooting that happened early Sunday morning after a disturbance outside a business in Southeast Dallas.
Saquon Barkley's home was invaded on Saturday morning
Coffee may help the body fight stress and aging through a hidden cellular switch
Scientists may have uncovered one reason coffee is repeatedly associated with healthier aging and lower disease risk. Compounds in coffee appear to activate NR4A1, a receptor that helps protect cells from stress, inflammation, and damage. These protective effects disappeared when the receptor was removed, strengthening the connection. Surprisingly, plant-based compounds such as caffeic acid seemed far more active than caffeine itself.
Coffee may help the body fight stress and aging through a hidden cellular switch
Scientists may have uncovered one reason coffee is repeatedly associated with healthier aging and lower disease risk. Compounds in coffee appear to activate NR4A1, a receptor that helps protect cells from stress, inflammation, and damage. These protective effects disappeared when the receptor was removed, strengthening the connection. Surprisingly, plant-based compounds such as caffeic acid seemed far more active than caffeine itself.
World Cup final entertainment roundup
The 2026 World Cup comes to an end this morning with a match between Spain and Argentina – and a musical line-up featuring some of the biggest names in entertainment.