House Defies Trump By Advancing $8BN New Ukraine Aid Package Late Wednesday saw President Trump receive a rare and much belated rebuke from the House of Representatives as it voted to pass a war powers resolution related to Iran. The passed resolution directs the withdrawal of US troops from armed hostilities with Iran, in a closely divided 215–208 vote, aided by four Republicans. But this wasn’t the only Trump-defying vote that […]

Standard Chartered Sees Bitcoin Bottom “Almost In” As Crypto Crashes To 3-Month-Lows Authored by Naga Avan-Nomayo via TheBlock.co, After a brutal week for bitcoin (down over 20% in the last 9 days), Standard Chartered said the worst may soon be over for the largest cryptocurrency and the broader digital asset market. The bank’s Global Head of Digital Assets Research, Geoffrey Kendrick, said in a note entitled “The Low Is Almost […]

“Disappointing Update”: Calvin Klein Owner PVH Crashes Most Since 1987 After Dismal Outlook The apparel company behind Calvin Klein and Tommy Hilfiger was hammered in early U.S. cash trading, falling as much as 30%, its steepest intraday crash since 1987. Analysts were spooked by sustained pressure across the Europe, Middle East, and Africa region, where the prolonged U.S.-Iran conflict and softer consumer demand are now weighing on […]

The United States Of Austrian Economics By Molly Schwartz, cross-asset macro strategist at Rabobank Earlier in the week, on Monday, Axios reported that “Iran threatened to abandon the negotiations with the US over Israel’s actions in Lebanon,” with inside sources suggesting that Trump called Netanyahu “crazy.” While Trump did not comment on the exact language, he did confirm the use of “expletives” in an interview […]

John Bolton To Plead Guilty In Documents Case, Pay $2M Fine: Report John Bolton, former national security adviser to President Donald Trump, has reached a plea deal with federal prosecutors and is expected to plead guilty to one count of illegal retention of sensitive national security documents, according to CNN, citing three sources familiar with the matter. Under the agreement, Bolton will pay a fine of more than $2 million. […]

Flesh-Eating Screwworm Detected In Texas, Threatening Already-Strained U.S. Cattle Herd Concerns over the New World screwworm (NWS) have been building for the last 12 months as the deadly cattle parasite spread through Mexico and the Trump administration attempted to prevent its spread into the U.S. Those concerns have now turned into red alerts after the USDA confirmed a single case in Texas, marking the first U.S. detection in […]

Blackstone’s Private Credit Fund Joins Peers In Gating Investors After Surge In Redemptions The private credit gates are shutting all over again. After virtually every marquee private credit fund limited withdrawals after being flooded with redemptions requests in Q1, we are seeing more of the same as the second quarter rolls out. And two days after Cliffwater LLC capped redemptions at 5% after investors requested 17% to be […]

Jamie Dimon To Hold “Live Interactive Discussion” With Super-Rich Clients As SpaceX IPO Roadshow Commences SpaceX is reportedly targeting a valuation of about $1.8 trillion as it prepares to go public next Friday, trading on the Nasdaq exchange under the ticker symbol SPCX. Last month, Goldman Sachs was selected as the lead bank for the SpaceX listing, alongside Morgan Stanley. JPMorgan, Bank of America, and Citigroup are also […]

UK Police Officers Admit DEI Training Pressured Them To Ignore Dying White Teen Henry Nowak Authored by Steve Watson via Modernity, Officers from the force that failed Henry Nowak have now admitted they felt “controlled and pressured to feel certain ways” after mandatory DEI sessions that hammered home ‘white privileged’ and unconscious bias. The trainer outsourced to deliver the course was described as “deeply hateful of white […]

Ford May Sales Plunge -13.6%, But UBS Says 2026 Remains On Track Ford reported U.S. sales of 190,828 units in May, down 13.6% year over year, bringing year-to-date sales to 826,810 units, down 11%. The declines were broad-based, reflecting ongoing weakness in EV demand and continued portfolio shifts away from certain lower-margin vehicles. EV sales fell nearly 44% during the month, while hybrid sales declined 16%. Among key […]

Trump Downplays Iran’s Attacks Targeting US Bases In Kuwait & Bahrain: ‘They Were Slightly Provoked’ Authored by Dave DeCamp via AntiWar.com, President Trump on Wednesday downplayed Iranian attacks that targeted US bases in Kuwait and Bahrain, saying they may have been “slightly provoked” since the US launched strikes against Iran beforehand. “There’s a reason for everything, and we hit them pretty hard last night,” the […]

Jobless Claims Jump As US Tech Firms Announce Most Job Cuts In 2 Years The number of Americans filing for unemployment benefits for the first time jumped to its highest in three months last week at 225k (215k exp), but this remains well within the range of the last five years… Source: Bloomberg The biggest increase in initial claims came from California while Texas saw the biggest decline… Continuing Jobless Claims dipped […]

Hezbollah Chief Rejects US-Mediated Israel Truce; Trump To Maintain Ceasefire With Iran Unless American Troops Killed Summary Hezbollah chief rejects outcome of Lebanon-Israel talks, insisting that a truce must encompass whole country. WSJ reports that the White House intends to maintain a ceasefire with Iran unless American troops are killed; oil drops also after Trump states on TS  Trump lashes out after House War Powers votes […]

Futures Slide After Broadcom Forecast Miss Chills Tech Euphoria US equity futures are weaker, dragged lower by Tech after a disappointing outlook from Broadcom triggered doubts that the blistering rally in technology shares had gone too far, a move exacerbated by euphoric positioning. As of 8:00am ET, S&P futures dropped 0.4%, while Nasdaq futures slumped 1.2%. Broadcom, which added around $150 billion in market value just this […]

Five Below Plunges After Earnings Beat, Warns Consumer Boost From Tax Refunds Is Ending Five Below’s core customer base is tweens, teens, and value-conscious households. That makes management’s warning on Wednesday’s earnings call particularly notable: the retailer is directly exposed to trends in low-end discretionary spending. “We’re looking at the world that our customers are living in: with rising fuel costs, with very sticky […]

Constellation’s Three Mile Island Nuclear Restart Gets Boost With FERC Waiver By Ethan Howland of UtilityDive Constellation Energy’s plans to restart the Crane nuclear power plant – formerly, and better known as Three Mile Island Unit 1 – were boosted Monday when the Federal Energy Regulatory Commission approved a waiver for the company from PJM Interconnection rules. FERC approved Constellation’s waiver request over the […]

Since 2022 Just A Handful Of Countries Have Driven All Sovereign Gold Demand The 2008 financial crisis marked a structural shift in central bank behaviour Back in January, UBS showed that most of last year’s increase in gold prices was driven by US policy shocks boosting private demand. The bulk of the gold price increase last year can be attributed to US policy shifts: UBS Running in parallel, however, has been a more gradual […]

Humanoid Robots Remain Years Away From Replacing Human Workers Authored by Stephen Katte via Cointelegraph, AI robotics company Figure posted several videos on X throughout May showcasing its robots performing basic tasks, including cleaning a room and sorting packages. Modern artificial intelligence-powered robots are impressive in their capabilities, but are still years away from replacing humans as they can’t yet adapt to […]

UBS Warns El Nino May Intensify Food Inflation Across Asia By now, readers have a clear understanding that the Gulf-driven energy shock is on course to collide with a potential super El Niño weather event, creating what could be a dangerous second-order shock to food supply chains around the world. The concern is that extreme heat and disrupted rainfall patterns could hit top agricultural growing belts, dent harvest output, and […]

BBC Sinks To A New Low… Authored by Steve Watson via Modernity, The BBC has once again demonstrated its role as a partisan propaganda machine rather than a neutral public broadcaster. On its flagship evening news show Newsnight, presenter Matt Chorley repeatedly claimed Reform UK leader Nigel Farage called for a “white cold rage” in response to the murder of 18-year-old student Henry Nowak. Yet Farage said no such thing. He […]

Germany, France, UK See Opportunity To Revive Putin Talks Without Washington Europe’s most influential powers of Germany, France, and the United Kingdom are trying to again jump-start Ukraine war peace talks, collectively operating as the E3 group. They seek to implement a new framework aimed at engaging Russian President Vladimir Putin in direct negotiations to end the war. Reuters on Wednesday reports that “A window for dialogue […]

After Murder Of Henry Nowak, Amnesty International Condemns Right Wing ‘Political Commentary’ Via Remix News, Amnesty International’s reaction to the murder of Henry Nowak has prompted outrage, with the organization having nothing to say about the atrocious and inhumane actions of the police during the incident, but sharply condemning the “political commentary” in the wake of Nowak’s death. “At a time when hate crimes […]

EU Could Lose 1.3 Million Jobs Due To Energy Price Surge From Iran War Up to 1.3 million jobs across the EU are at risk because of the ongoing war in the Middle East, European Commissioner for jobs Roxana Mînzatu said on Wednesday. “Due to the war in the Middle East, up to 1.3 million jobs are at risk, particularly in energy-intensive industries,” Mînzatu said at a press conference. “Let me also underline that increased energy […]

Iran To Deepen Ties With ‘Principal Strategic Partner’ China: Ghalibaf Via The Cradle Iranian Parliament Speaker and special representative for China affairs, Mohammad Bagher Ghalibaf, held the first joint meeting with key economic officials on Wednesday to align Tehran’s economic strategy toward Beijing. The session in Tehran included the ministers of economy, oil, and industry, alongside the central bank governor and the head of […]

US Formally Rejects Somaliland Sovereignty In Blow To Israel Via Middle East Eye The US has reaffirmed “the sovereignty and territorial integrity” of Somalia, in a move seen as a blow to Somaliland, the breakaway region recently recognized by Israel and close to the United Arab Emirates. In a report to Congress on “Potential Areas for Improved United States Engagement with Somaliland”, the US State Department stated […]