Reported 14 days ago
Safroadu Yeboah-Amankwah, Intel's chief strategy officer since 2020, is set to depart the company on June 30. This change comes as Intel's leadership evolves under CEO Lip-Bu Tan, who has streamlined the management structure and taken direct oversight of key divisions. Yeboah-Amankwah's responsibilities will be reassigned, with Sachin Katti stepping into some of his strategic roles.
Source: YAHOO
Reported 14 days ago
Rob Biederman, managing partner at Asymmetric Capital Partners, will lead a roundtable session at TechCrunch All Stage 2025 on July 15 in Boston, focusing on essential strategies for founders to scale their startups. He'll provide insights into talent acquisition, execution, and long-term growth, helping attendees navigate challenges often faced during scaling. The event is designed for founders seeking to enhance their growth strategies and includes significant early bird discounts on passes.
Source: YAHOO
Reported 14 days ago
President Donald Trump declared that he will only appoint candidates to head the Federal Reserve who support lowering interest rates, establishing a clear expectation for prospective nominees. His insistence on reducing rates to 1% from the current benchmark of 4.25% to 4.50% further underscores his criticism of Fed Chair Jerome Powell, whom he has labeled as ineffective. With Trump's focus shifting toward finding a successor for Powell, he reportedly has several candidates in mind, aiming to steer Fed policy towards his preferences.
Source: YAHOO
Reported 14 days ago
Next week, investors should watch for Constellation Brands' Q1 earnings report on Tuesday, with analysts predicting a 5.6% decline in EPS. On Wednesday, Tesla will reveal its Q2 vehicle delivery and production figures amidst sales challenges. The June jobs report is expected on Thursday, showing 110,000 new jobs and a slight rise in unemployment to 4.3%. Additionally, Senate Republicans are hurrying to revise and pass President Trump's tax bill before the July 4 deadline.
Source: YAHOO
Reported 14 days ago
Ripple Labs has decided to withdraw its cross appeal against the U.S. Securities and Exchange Commission (SEC) in a lengthy legal dispute over the sale of its XRP tokens, according to CEO Brad Garlinghouse. This decision comes after a court ruling that deemed XRP sales on public exchanges legal, while noting that sales to institutional investors were not compliant with securities laws. Both Ripple and the SEC had been appealing previous rulings but are now moving towards a resolution after years of legal contention.
Source: YAHOO
Reported 14 days ago
In June 2025, Wall Street experienced its best performance in over a year, fueled by increasing investor optimism amidst fading global trade concerns. The S&P 500 hit a record high despite economic uncertainty, including rising jobless claims and weak consumer spending. Market enthusiasm was apparent as retail traders returned and the appetite for risk surged, though experts caution that this exuberance could overlook underlying economic vulnerabilities.
Source: YAHOO
Reported 14 days ago
Former President Donald Trump expressed his desire for the Federal Reserve Chair Jerome Powell to resign, criticizing his performance and labeling him 'stupid.' Trump also advocated for a reduction of interest rates to 1%, arguing that current rates are higher due to what he termed 'Trump Derangement Syndrome.' While Trump has previously threatened to fire Powell, who is serving a term until May 2026, he plans to nominate a successor focused on lowering rates.
Source: YAHOO
Reported 14 days ago
OpenAI has started renting Google's artificial intelligence chips to enhance the performance of ChatGPT and other products, as reported by a source. This collaboration marks a shift for OpenAI, which has predominantly relied on Nvidia's chips, and indicates a move towards Google's cloud services to address increasing computing demands. While Google is expanding its AI chip availability, it's not providing its most powerful units to OpenAI due to competitive considerations.
Source: YAHOO
Reported 14 days ago
Canadian steel producers have expressed concerns to government officials about the inadequacy of current tariff protection measures in light of increased U.S. tariffs on steel and aluminum. They argue that the government's recent measures do not sufficiently shield the industry from unfair trade practices and could lead to mass layoffs. The Canadian Steel Producers Association indicated that the existing tariff-rate quota will not effectively support the industry, highlighting that recent layoffs have already occurred and further job losses could follow if conditions do not improve.
Source: YAHOO
Reported 14 days ago
President Donald Trump has announced the termination of all trade negotiations with Canada following the implementation of a digital services tax by the Canadian government, threatening new tariffs within a week. This decision has intensified tensions in the historically strong bilateral trade relationship, valued at over $900 billion. Canadian leaders are facing pressure to reconsider the digital tax, which has been criticized for its potential economic impact.
Source: YAHOO
Reported 14 days ago
GE Vernova is reportedly looking to sell its Proficy industrial software business, potentially valued between $900 million and $1 billion. Following its split from General Electric last year, the company aims to capitalize on rising domestic power demand driven by advancements in AI and cryptocurrency operations. The firm is engaging with advisors and potential buyers in the industrial software and private equity sectors.
Source: YAHOO
Reported 14 days ago
The Federal Reserve's annual stress test indicates that major U.S. banks, including JPMorgan Chase and Bank of America, are well-equipped to endure a severe recession without needing government support. The test assessed banks' resilience against a hypothetical economic downturn featuring a high unemployment rate and significant declines in stock and real estate values, revealing that their capital levels remain well above the required minimum. However, some critics argue that the current testing method may understate risks.
Source: YAHOO
Reported 14 days ago
President Donald Trump is urging Congress to expedite the passage of his tax-cut bill, with a new deadline set before July 4th, coinciding with a tentative agreement among Republicans on the state and local tax (SALT) deduction. The proposed deal would raise the SALT deduction cap to $40,000 for five years, a crucial negotiating point, as GOP lawmakers face pressure to meet demands from constituencies in states such as New York and New Jersey. Voting on the bill is anticipated to commence soon, with significant implications for Trump's broader economic agenda.
Source: YAHOO
Reported 14 days ago
The United States and China have announced another trade agreement aimed at reducing trade tensions, though specifics remain unclear and major issues persist. While the U.S. Treasury Secretary noted China would facilitate access to essential materials for American companies, there were no clear commitments from the U.S. regarding technology export controls. Analysts caution that while the agreement may ease immediate tensions, it does not address the core trade issues that have fueled disputes between the two nations.
Source: YAHOO
Reported 14 days ago
Congress is considering a proposal that would prevent states from regulating artificial intelligence (AI) for 10 years, which critics argue could hamper consumer protections and allow corporations more leeway without oversight. Proponents, including major tech figures, claim differing state regulations would hinder innovation amidst competition with China. The moratorium could conflict with existing state laws aimed at safeguarding against AI-related harms, and there is significant bipartisan opposition from Republicans and Democrats alike. The debate over this provision is intensifying as Congress approaches key votes.
Source: YAHOO
Reported 14 days ago
U.S. stocks set new records as the S&P 500 and Nasdaq Composite closed at all-time highs despite President Trump's announcement to halt trade talks with Canada over a digital services tax. The market mood improved with optimism surrounding a trade deal between the U.S. and China, leading to a notable increase in the Dow Jones as well. The fluctuating session witnessed a recovery after the midday dip attributed to Trump's trade comments.
Source: YAHOO
Reported 14 days ago
President Trump may nominate a 'shadow' Federal Reserve chair before Jerome Powell's term ends, an unprecedented action that could create confusion within the financial markets and challenge the Fed's independence. While Trump seeks someone to cut interest rates, experts warn that having two influential voices on monetary policy could lead to significant market instability.
Source: YAHOO
Reported 14 days ago
Elon Musk revealed that a Tesla Model Y successfully drove itself from the factory to a customer’s home, marking a significant step in Tesla's autonomous driving initiatives. This delivery, which occurred ahead of schedule, showcased the electric vehicle's self-driving capabilities without any passengers or remote control. The event coincides with the launch of Tesla's robotaxi service and highlights Musk’s commitment to integrating AI and robotics into the future of the company.
Source: YAHOO
Reported 14 days ago
As Jerome Powell's term as Federal Reserve Chair nears its end in May 2026, speculation arises regarding potential successors, including former Fed governor Kevin Warsh, current Fed governor Christopher Waller, Treasury Secretary Scott Bessent, former World Bank president David Malpass, and National Economic Council Director Kevin Hassett. Each candidate presents unique advantages and perspectives on monetary policy, particularly around interest rates, which have become a contentious issue under the current administration.
Source: YAHOO
Reported 14 days ago
As fears of widespread job losses due to AI grow, Anthropic has initiated its Economic Futures Program to research AI's economic impacts and formulate potential policy solutions. The program will offer grants for empirical research on AI's effects on labor and productivity, host symposia for policy discussions, and create datasets to monitor AI's economic influence. Anthropic aims to provide evidence-based insights to navigate both the positive and negative consequences of AI on the economy, encouraging collaboration among researchers and policymakers.
Source: YAHOO
Reported 14 days ago
President Trump has created uncertainty regarding the U.S. tariff timeline this summer by presenting multiple scenarios during a recent press conference. While Treasury Secretary Scott Bessent suggested a potential end-of-summer deadline for trade resolutions, Trump stated that the July 9 reciprocal tariff deadline could be adjusted unpredictably. He also announced the termination of trade discussions with Canada over a digital tax, indicating that new tariffs could be imposed soon. Analysts are warning that the market should not assume a consistent trajectory for trade policies, as various developments could lead to changes in tariff rates.
Source: YAHOO
Reported 14 days ago
The Federal Reserve's recent stress tests confirmed that the largest US banks, including JPMorgan Chase and Bank of America, can withstand a severe economic downturn while maintaining adequate capital. All 22 banks tested demonstrated resilience, with capital levels well above the required minimum, even amidst projected substantial losses. This positive outcome may support the Trump administration's efforts to relax capital regulations, as regulators consider adjustments to financial rules aimed at boosting lending and promoting economic growth.
Source: YAHOO
Reported 15 days ago
On June 27, 2025, the S&P 500 index rose 0.5% to a record closing high, fueled by U.S.-China trade agreement news. Nike's stocks soared 15% after reporting better than expected quarterly results, indicating positive progress under CEO Elliott Hill. In contrast, shares of Coinbase dropped 5.8% following a sell-off by the ARK Innovation ETF. Other notable movements included Boeing rising 5.9% and Palantir Technologies falling 9% amid concerns over U.S. defense budget cuts.
Source: YAHOO
Reported 15 days ago
Recent revisions to President Trump's 'big, beautiful bill' have significantly raised its estimated cost, which is projected to exceed $3 trillion. Various factors, including Senate advisements and internal party negotiations, have contributed to the complexity of the bill, particularly around Medicaid and tax provisions. Republicans have made concessions, such as increasing state and local tax deductions, but these changes may hinder the goal of finalizing the legislation by the July 4 deadline.
Source: YAHOO
Reported 15 days ago
Nvidia is on the verge of becoming the first company to achieve a $4 trillion market capitalization, building on its previous milestone of $1 trillion. Despite initial concerns over AI spending this year, Nvidia’s stock has rebounded significantly, fueled by robust demand for its computing systems from major clients like Microsoft and Amazon. Analysts remain bullish, anticipating that Nvidia will maintain its strong market position as AI spending grows, although potential risks, including customer shifts and trade policy impacts, linger.
Source: YAHOO