1 hr. ago
The national average price for a gallon of gasoline hit $4.14 heading into Labor Day weekend, according to AAA, the highest ever recorded for the holiday and the first time the average has been above $4 on Labor Day. The price broke a record set 14 years ago, when the average was $3.82 on Sept. 3, 2012. A year ago, Americans were paying just $3.19.
On CNN's "State of the Union" on Sunday, host Dana Bash pointed out to Energy Secretary Chris Wright that he had said on the same show in April that gas prices had peaked and might not fall below $3 per gallon until 2027. She asked whether — with the war in Iran, the Russia-Ukraine war and dwindling U.S. reserves — prices could go higher.
"I don't want to have an opinion on that," Wright said.
He then pointed to the gasoline futures market, which he said was pricing the fuel about 30 cents a gallon lower two months out. He said the Trump administration had changed blending requirements to allow American refiners to produce more gasoline, and named several Democratic-led states that have declined to adopt the new standards.
"New York, Connecticut, California and several other Democrat-governed states have decided not to adopt those standards," Wright said. "They apparently want to keep driving up prices on their residents."
#wright #labor #pointed
On CNN's "State of the Union" on Sunday, host Dana Bash pointed out to Energy Secretary Chris Wright that he had said on the same show in April that gas prices had peaked and might not fall below $3 per gallon until 2027. She asked whether — with the war in Iran, the Russia-Ukraine war and dwindling U.S. reserves — prices could go higher.
"I don't want to have an opinion on that," Wright said.
He then pointed to the gasoline futures market, which he said was pricing the fuel about 30 cents a gallon lower two months out. He said the Trump administration had changed blending requirements to allow American refiners to produce more gasoline, and named several Democratic-led states that have declined to adopt the new standards.
"New York, Connecticut, California and several other Democrat-governed states have decided not to adopt those standards," Wright said. "They apparently want to keep driving up prices on their residents."
#wright #labor #pointed
1 hr. ago
Germany's AfD is heading for a big victory in the eastern state of Saxony-Anhalt, far ahead of its mainstream arrivals, exit polls say. It is not yet clear if that would be enough to take power in the state but the AfD says it has won a mandate to govern.
The far-right party is projected to win 44-44.5% of the vote, far ahead of the conservative CDU on 18.5%. The AfD has hailed the result as a "historic outcome" and the charismatic leader in the state, Ulrich Siegmund, has refused to rule with any other party.
No far-right party has won control of a state in Germany since World War Two, and governing at state level would mean powers over policing, local education and culture.
Saxony-Anhalt has a small population of 2.1 million and the AfD in the state is ******* sed by domestic intelligence as "far-right extremist", a classification rejected by Siegmund.
The AfD's projected result is higher than earlier opinion polls suggested, but it will depend on which of the smaller parties get into the state parliament before the party's leaders know if they have enough seats to govern.
#enough #govern
The far-right party is projected to win 44-44.5% of the vote, far ahead of the conservative CDU on 18.5%. The AfD has hailed the result as a "historic outcome" and the charismatic leader in the state, Ulrich Siegmund, has refused to rule with any other party.
No far-right party has won control of a state in Germany since World War Two, and governing at state level would mean powers over policing, local education and culture.
Saxony-Anhalt has a small population of 2.1 million and the AfD in the state is ******* sed by domestic intelligence as "far-right extremist", a classification rejected by Siegmund.
The AfD's projected result is higher than earlier opinion polls suggested, but it will depend on which of the smaller parties get into the state parliament before the party's leaders know if they have enough seats to govern.
#enough #govern
1 hr. ago
By Alexander Cornwell
TEL AVIV, Sept 6 (Reuters) - Israeli Prime Minister Benjamin Netanyahu has ordered unauthorized settler outposts in the West Bank to be dismantled, two people familiar with the matter said on Sunday, amid pressure from the U.S. to crack down on settler attacks on Palestinians.
The order applies to outposts established by settlers without official authorisation from the Israeli state, the sources said. Outposts typically consist of prefabricated caravans and house a small number of settlers. The state has from time to time demolished such structures and also formally recognized others, allowing them to access government funding.
It was not immediately clear when the operation would begin.
U.N. bodies and most governments deem all Israeli settlements illegal under international law and consider the West Bank to be occupied territory under military control. Israel argues the territory is disputed, not occupied.
#israeli #occupied
TEL AVIV, Sept 6 (Reuters) - Israeli Prime Minister Benjamin Netanyahu has ordered unauthorized settler outposts in the West Bank to be dismantled, two people familiar with the matter said on Sunday, amid pressure from the U.S. to crack down on settler attacks on Palestinians.
The order applies to outposts established by settlers without official authorisation from the Israeli state, the sources said. Outposts typically consist of prefabricated caravans and house a small number of settlers. The state has from time to time demolished such structures and also formally recognized others, allowing them to access government funding.
It was not immediately clear when the operation would begin.
U.N. bodies and most governments deem all Israeli settlements illegal under international law and consider the West Bank to be occupied territory under military control. Israel argues the territory is disputed, not occupied.
#israeli #occupied
2 hours ago
RTX Corporation (NYSE:RTX) is increasingly benefiting from surging demand for missiles, air-defense systems, and other military equipment as geopolitical tensions rise and governments expand defense spending. The stock is already up about 9% year-to-date, as investors increasingly price in the company's growing defense backlog and stronger long-term demand.
On September 1, the U.S. Department of War awarded RTX Corporation (NYSE:RTX)'s Raytheon business a $42.48 million cost-plus-fixed-fee contract for technical and engineering services supporting Navy air-traffic systems. The work includes engineering and restoration services for air-traffic navigation and coordination systems.
While relatively small compared with Raytheon's larger weapons contracts, the award comes amid a broader acceleration in defense spending.
Photo by Somchai Kongkamsri from Pexels
On August 17, Raytheon was awarded a $22.9 billion contract to accelerate production of Tomahawk cruise missiles. The agreement supports the annual production ramp-up of more than 1,000 Tomahawk missiles, along with **** ociated support and services.
#corporation #raytheon #tomahawk #demand
On September 1, the U.S. Department of War awarded RTX Corporation (NYSE:RTX)'s Raytheon business a $42.48 million cost-plus-fixed-fee contract for technical and engineering services supporting Navy air-traffic systems. The work includes engineering and restoration services for air-traffic navigation and coordination systems.
While relatively small compared with Raytheon's larger weapons contracts, the award comes amid a broader acceleration in defense spending.
Photo by Somchai Kongkamsri from Pexels
On August 17, Raytheon was awarded a $22.9 billion contract to accelerate production of Tomahawk cruise missiles. The agreement supports the annual production ramp-up of more than 1,000 Tomahawk missiles, along with **** ociated support and services.
#corporation #raytheon #tomahawk #demand
2 hours ago
Prominent economist Mohamed El-Erian argues hyperscalers and national governments are issuing a flood of bonds to keep up their rapid spending velocity onto fewer buyers. Those straightforward circumstances are pushing bond yields up.
"If you look at the amount of issuance that's coming from governments, from hyperscalers, from companies, it far exceeds what you can count on in terms of reliable buyers, and that's why there's been pressure on interest rates, El-Erian told CNBC in an interview on Friday. "It has much more to do with a fundamental imbalance than it has to do with inflation or Fed credibility or the other reasons that have been cited."
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP
The tax breaks in Trump's 'big beautiful bill' expire after 2028. Here are 4 moves to make before the window closes
#governments #buyers #jeff #bezos
"If you look at the amount of issuance that's coming from governments, from hyperscalers, from companies, it far exceeds what you can count on in terms of reliable buyers, and that's why there's been pressure on interest rates, El-Erian told CNBC in an interview on Friday. "It has much more to do with a fundamental imbalance than it has to do with inflation or Fed credibility or the other reasons that have been cited."
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP
The tax breaks in Trump's 'big beautiful bill' expire after 2028. Here are 4 moves to make before the window closes
#governments #buyers #jeff #bezos
2 hours ago
MANCHESTER, England (AP) — FIFA President Gianni Infantino will stand for re-election, world soccer's governing body said Sunday.
Infantino has faced increasing pressure over his failed plan to sell stakes in the World Cup.
Despite widespread calls for him to step down, FIFA said Infantino will seek next year to win a fourth and final term in office through 2031.
"The FIFA President announced in April that he will stand for re-election in 2027. Of course, nothing has changed. Mr. Infantino will be standing for re-election," a FIFA spokesperson said.
UEFA, European soccer's governing body, has led the calls for Infantino to go, saying it had lost confidence in him and previously threatening to boycott FIFA tournaments, including the World Cup. A number of national ****** ociations, such the English FA, have withdrawn support for Infantino's re-election.
#election
Infantino has faced increasing pressure over his failed plan to sell stakes in the World Cup.
Despite widespread calls for him to step down, FIFA said Infantino will seek next year to win a fourth and final term in office through 2031.
"The FIFA President announced in April that he will stand for re-election in 2027. Of course, nothing has changed. Mr. Infantino will be standing for re-election," a FIFA spokesperson said.
UEFA, European soccer's governing body, has led the calls for Infantino to go, saying it had lost confidence in him and previously threatening to boycott FIFA tournaments, including the World Cup. A number of national ****** ociations, such the English FA, have withdrawn support for Infantino's re-election.
#election
3 hours ago
On September 4, Bruker (NASDAQ:BRKR) said its energy and supercon technologies unit, Bruker Energy & Supercon Technologies (or BEST), had struck a supply collaboration with Luvata Materials & Solutions to scale up production of RRP superconductors for magnetic confinement fusion. The deal lands right as governments and private developers from Europe to South Korea race to build fusion demonstration plants, and it comes a month after Bruker's core scientific instruments business showed its first real signs of stabilizing. Two very different stories are converging inside one stock.
The Luvata tie-up is not Bruker's first rodeo in fusion. BEST and Luvata previously supplied materials and expertise to ITER, the international fusion megaproject, and to the Wendelstein 7-X stellarator, two of the most advanced superconducting plasma facilities ever built. Their RRP superconductors, wires built with the Rod-Restack Process to withstand field strengths between 12 and 20 Tesla, already run inside CERN's Large Hadron Collider and in ultra-high field NMR magnets. That track record matters now because fusion programs are ramping across Europe, the Americas, China, **** an and South Korea, and Gauss Fusion has already begun evaluating RRP superconductors for its Gauss Industrial Demonstrator and GIGA power plant platform.
The segment is already delivering. On August 4, Bruker reported that BEST revenue climbed 11.9% year over year to $74.2 million in the second quarter, with organic growth of 8.9% net of intercompany eliminations, while first-half BEST revenue rose 12.3% to $141 million. That growth showed up in Bruker's bottom line too. Non-GAAP operating margin expanded to 14.1% from 9% a year earlier, and non-GAAP diluted earnings per share grew to $0.49 from $0.32, results strong enough that management kept its full-year non-GAAP EPS growth target of 15% to 17% intact.
None of that shows up on a GAAP basis. Bruker's second-quarter GAAP operating results swung to a $65.3 million loss, versus $11.9 million of GAAP operating income a year earlier, dragged down largely by a $134.9 million non-cash goodwill charge. GAAP diluted earnings per share swung to a loss of $0.41 from a profit of $0.05, and for the first half of 2026 the company posted a GAAP diluted loss per share of $0.39. Impairments do not spend cash, but they are a reminder that some of what Bruker paid for in past acquisitions is now being written down.
#gaap #bruker #million #already
The Luvata tie-up is not Bruker's first rodeo in fusion. BEST and Luvata previously supplied materials and expertise to ITER, the international fusion megaproject, and to the Wendelstein 7-X stellarator, two of the most advanced superconducting plasma facilities ever built. Their RRP superconductors, wires built with the Rod-Restack Process to withstand field strengths between 12 and 20 Tesla, already run inside CERN's Large Hadron Collider and in ultra-high field NMR magnets. That track record matters now because fusion programs are ramping across Europe, the Americas, China, **** an and South Korea, and Gauss Fusion has already begun evaluating RRP superconductors for its Gauss Industrial Demonstrator and GIGA power plant platform.
The segment is already delivering. On August 4, Bruker reported that BEST revenue climbed 11.9% year over year to $74.2 million in the second quarter, with organic growth of 8.9% net of intercompany eliminations, while first-half BEST revenue rose 12.3% to $141 million. That growth showed up in Bruker's bottom line too. Non-GAAP operating margin expanded to 14.1% from 9% a year earlier, and non-GAAP diluted earnings per share grew to $0.49 from $0.32, results strong enough that management kept its full-year non-GAAP EPS growth target of 15% to 17% intact.
None of that shows up on a GAAP basis. Bruker's second-quarter GAAP operating results swung to a $65.3 million loss, versus $11.9 million of GAAP operating income a year earlier, dragged down largely by a $134.9 million non-cash goodwill charge. GAAP diluted earnings per share swung to a loss of $0.41 from a profit of $0.05, and for the first half of 2026 the company posted a GAAP diluted loss per share of $0.39. Impairments do not spend cash, but they are a reminder that some of what Bruker paid for in past acquisitions is now being written down.
#gaap #bruker #million #already
4 hours ago
Fifa president Gianni Infantino will stand for re-election in March, says football's world governing body.
Infantino, who has filled the role since 2016, has been under pressure following his scrapped plan to sell stakes in Fifa competitions to private investment firms.
Infantino's lucrative plan sparked a global outcry, with European football's governing body Uefa threatening to boycott all Fifa competitions, including the World Cup.
"The Fifa president announced in April that he will stand for re-election in 2027," read a Fifa statement.
"Of course, nothing has changed. Mr Infantino will be standing for re-election."
#fifa #president
Infantino, who has filled the role since 2016, has been under pressure following his scrapped plan to sell stakes in Fifa competitions to private investment firms.
Infantino's lucrative plan sparked a global outcry, with European football's governing body Uefa threatening to boycott all Fifa competitions, including the World Cup.
"The Fifa president announced in April that he will stand for re-election in 2027," read a Fifa statement.
"Of course, nothing has changed. Mr Infantino will be standing for re-election."
#fifa #president
10 hours ago
Former Ohio State Head Football Coach and current Lieutenant Governor of Ohio, Jim Tressel, has been enshrined in the Ring of Honor at Ohio Stadium.
[DOWNLOAD: Free WHIO-TV News app for alerts as news breaks]
Tressel's plaque on the C-Deck of Ohio Stadium was unveiled during Ohio State's season opener against Ball State.
TRENDING STORIES:
'Teen takeover' trend hits AlterFest, prompts new curfew
#state #former #Football #governor
[DOWNLOAD: Free WHIO-TV News app for alerts as news breaks]
Tressel's plaque on the C-Deck of Ohio Stadium was unveiled during Ohio State's season opener against Ball State.
TRENDING STORIES:
'Teen takeover' trend hits AlterFest, prompts new curfew
#state #former #Football #governor
15 hours ago
Texas billionaire Dan Friedkin and The Friedkin Group (TFG) seem to be intently
focused on spinning multiple business deals involving sports franchises across two continents, whether to buy or sell.
Negotiations are currently underway between TFG, a prominent player in global sports investment that manages its multi-club portfolio through its Houston-based division, Pursuit Sports, and representatives from Houston and Austin. The group is awaiting agreement on terms and the approval of the NHL Board of Governors to establish a team in either city by the end of 2026.
But now Friedkin has another move in play, potentially selling a minority stake in Everton Football Club in the English Premier League. According to The Athletic, the idea is to find strategic investors who can help push the club forward.
However, a former Everton top executive believes that a full sale of the club is on the table, given the recent struggles to appease supporters and a catastrophic summer transfer window in which multiple top players left while the club acquired undesirable players in return.
#club #everton #multiple
focused on spinning multiple business deals involving sports franchises across two continents, whether to buy or sell.
Negotiations are currently underway between TFG, a prominent player in global sports investment that manages its multi-club portfolio through its Houston-based division, Pursuit Sports, and representatives from Houston and Austin. The group is awaiting agreement on terms and the approval of the NHL Board of Governors to establish a team in either city by the end of 2026.
But now Friedkin has another move in play, potentially selling a minority stake in Everton Football Club in the English Premier League. According to The Athletic, the idea is to find strategic investors who can help push the club forward.
However, a former Everton top executive believes that a full sale of the club is on the table, given the recent struggles to appease supporters and a catastrophic summer transfer window in which multiple top players left while the club acquired undesirable players in return.
#club #everton #multiple
15 hours ago
The leader of Reform UK in Scotland has said a second independence referendum is "a long way off".
The Scottish government last week published its draft independence referendum bill, setting out the details of the proposed question and who would be allowed to vote.
But Malcolm Offord told BBC Radio Scotland's Mornings programme that there would need to be a "groundswell" of support for a fresh poll.
In 2014 Scotland voted against becoming an independent country by 55% to 45%.
Successive UK governments have opposed any further referendums and Downing Street recently said a new vote was "off limits".
#mornings
The Scottish government last week published its draft independence referendum bill, setting out the details of the proposed question and who would be allowed to vote.
But Malcolm Offord told BBC Radio Scotland's Mornings programme that there would need to be a "groundswell" of support for a fresh poll.
In 2014 Scotland voted against becoming an independent country by 55% to 45%.
Successive UK governments have opposed any further referendums and Downing Street recently said a new vote was "off limits".
#mornings
16 hours ago
SEOUL, South Korea (AP) — A group of Chinese artists is boycotting a major art exhibition in South Korea over the organizers' plans to use the name "Taiwan Pavilion" for an exhibition of works by Taiwanese artists.
China considers self-governing Taiwan to be part of its territory and rejects the island's claim to sovereignty. Beijing generally refers to Taiwan as "China's Taiwan region."
China's Foreign Ministry on Thursday criticized the South Korean organizers of the biennial Gwangju Biennale, one of Asia's most prominent art exhibitions, saying the organizers have "stubbornly clung to the wrongful practice, allowing China's Taiwan region to participate under a designation that is completely incompatible with its status."
Spokesperson Guo Jiakun said China hopes the South Korean government will uphold its political commitment to the "one China" principle through concrete action.
The Chinese artists said the same day that they were withdrawing from the festival, which opens Saturday and runs through mid-November.
#korean
China considers self-governing Taiwan to be part of its territory and rejects the island's claim to sovereignty. Beijing generally refers to Taiwan as "China's Taiwan region."
China's Foreign Ministry on Thursday criticized the South Korean organizers of the biennial Gwangju Biennale, one of Asia's most prominent art exhibitions, saying the organizers have "stubbornly clung to the wrongful practice, allowing China's Taiwan region to participate under a designation that is completely incompatible with its status."
Spokesperson Guo Jiakun said China hopes the South Korean government will uphold its political commitment to the "one China" principle through concrete action.
The Chinese artists said the same day that they were withdrawing from the festival, which opens Saturday and runs through mid-November.
#korean
17 hours ago
Sept 5 (Reuters) - A federal appeals court panel rejected the Trump administration's bid to lift a ban on using a federal immigration database to check the accuracy of citizenship records on states' voter rolls.
In a 2-1 ruling on Friday, the U.S. Court of Appeals for the District of Columbia declined to lift a lower court's ban on using the Homeland Security Department's Systematic Alien Verification for Entitlements database. The earlier ruling determined that the government cannot use the system ahead of the November 3 midterm elections, in which Trump's Republicans will be defending narrow majorities in both chambers of Congress.
Chief Judge Sri Srinivasan and U.S. Circuit Judge Robert Wilkins, both appointed to the appeals court by President Barack Obama, upheld the lower court decision that the SAVE system violates the Social Security Act as it shares millions of Americans' private information. The appeals court judges also noted concerns around the potential for inaccurate citizen information that could lead to people having to prove citizenship to remain registered voters, and in some cases could even lead to voter registration being canceled.
U.S. Circuit Judge Gregory Katsas, an appointee of President Donald Trump, dissented.
A federal judge in Florida in July ordered the U.S. Department of Homeland Security to resume giving four Republican-led states access to the database after another judge blocked it from continuing to use the database nationwide.
#court #security #federal #circuit
In a 2-1 ruling on Friday, the U.S. Court of Appeals for the District of Columbia declined to lift a lower court's ban on using the Homeland Security Department's Systematic Alien Verification for Entitlements database. The earlier ruling determined that the government cannot use the system ahead of the November 3 midterm elections, in which Trump's Republicans will be defending narrow majorities in both chambers of Congress.
Chief Judge Sri Srinivasan and U.S. Circuit Judge Robert Wilkins, both appointed to the appeals court by President Barack Obama, upheld the lower court decision that the SAVE system violates the Social Security Act as it shares millions of Americans' private information. The appeals court judges also noted concerns around the potential for inaccurate citizen information that could lead to people having to prove citizenship to remain registered voters, and in some cases could even lead to voter registration being canceled.
U.S. Circuit Judge Gregory Katsas, an appointee of President Donald Trump, dissented.
A federal judge in Florida in July ordered the U.S. Department of Homeland Security to resume giving four Republican-led states access to the database after another judge blocked it from continuing to use the database nationwide.
#court #security #federal #circuit
19 hours ago
September 4 delivered a stark rotation. Memory, connectivity, chip-equipment, and power stocks rallied while Adobe fell 6.7% and Palantir dropped 4.5%. Adobe's decline followed news that Anil Chakravarthy will become chief executive on December 1, while Palantir faced a broader move away from richly valued software. Adobe Inc. (NASDAQ:ADBE) and Palantir Technologies Inc. (NASDAQ:PLTR) test whether investors are underestimating software monetization or correctly pricing greater disruption risk.
Adobe's bull case is embedded distribution across creative, document, and marketing workflows. Fiscal second-quarter revenue rose 13% to a record $6.62 billion, and AI-first annualized recurring revenue more than tripled to above $500 million. Chakravarthy already runs customer-experience orchestration, which could connect AI creation with enterprise activation. The bear case is that low-cost generative tools erode pricing, while its CEO and interim-CFO transitions complicate execution.
Insider Monkey counted 81 hedge funds holding Adobe Inc. (NASDAQ:ADBE) at June 30, down from 86 at March 31. Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke, and John Campbell, disclosed 6,787,022 shares, roughly 0.1% fewer sequentially. The filing predates the leadership announcement.
Palantir's bull case is already visible in results. Second-quarter revenue grew 93% to $1.94 billion, U.S. commercial revenue rose 149%, and adjusted operating margin reached 62%. Its software can turn model output into governed operational decisions. The bear case is valuation, contract concentration, termination clauses, and the risk that current growth rates normalize as competitors improve.
Eighty-six hedge funds held Palantir Technologies Inc. (NASDAQ:PLTR) in Q2, down from 96 in Q1. Cathie Wood's ARK Investment Management reported 3,212,286 shares, about 3.3% more than in the prior quarter.
#revenue #chakravarthy #adbe
Adobe's bull case is embedded distribution across creative, document, and marketing workflows. Fiscal second-quarter revenue rose 13% to a record $6.62 billion, and AI-first annualized recurring revenue more than tripled to above $500 million. Chakravarthy already runs customer-experience orchestration, which could connect AI creation with enterprise activation. The bear case is that low-cost generative tools erode pricing, while its CEO and interim-CFO transitions complicate execution.
Insider Monkey counted 81 hedge funds holding Adobe Inc. (NASDAQ:ADBE) at June 30, down from 86 at March 31. Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke, and John Campbell, disclosed 6,787,022 shares, roughly 0.1% fewer sequentially. The filing predates the leadership announcement.
Palantir's bull case is already visible in results. Second-quarter revenue grew 93% to $1.94 billion, U.S. commercial revenue rose 149%, and adjusted operating margin reached 62%. Its software can turn model output into governed operational decisions. The bear case is valuation, contract concentration, termination clauses, and the risk that current growth rates normalize as competitors improve.
Eighty-six hedge funds held Palantir Technologies Inc. (NASDAQ:PLTR) in Q2, down from 96 in Q1. Cathie Wood's ARK Investment Management reported 3,212,286 shares, about 3.3% more than in the prior quarter.
#revenue #chakravarthy #adbe
21 hours ago
With Clemson football's season opener in Baton Rouge approaching, LSU has decided not to test the limits of a growing eligibility dispute involving two former professional players.
LSU coach Lane Kiffin confirmed Saturday that Dae'Quan Wright and Zxavian Harris were not included on the Tigers' official roster, despite a Louisiana judge issuing an injunction that opened the door for both players to compete.
"That wasn't easy," Kiffin said. "As much as I feel for the players… I believe that you fight for what you believe in, and I believe these kids have an opportunity to play, just like all the other kids around the country that are winning court cases and being put on rosters. But at the same time, I'm the head coach of LSU and I had to make a decision that is for the big picture of LSU and the LSU football program, with the uncertainties of what potentially could have come by adding them to the roster."
Those uncertainties were considerable.
The SEC has warned its schools of potentially significant penalties for putting former NFL players on a college roster and recently took legal action against LSU. Clemson also warned that using former professional players could violate the contract governing Saturday night's matchup.
#professional
LSU coach Lane Kiffin confirmed Saturday that Dae'Quan Wright and Zxavian Harris were not included on the Tigers' official roster, despite a Louisiana judge issuing an injunction that opened the door for both players to compete.
"That wasn't easy," Kiffin said. "As much as I feel for the players… I believe that you fight for what you believe in, and I believe these kids have an opportunity to play, just like all the other kids around the country that are winning court cases and being put on rosters. But at the same time, I'm the head coach of LSU and I had to make a decision that is for the big picture of LSU and the LSU football program, with the uncertainties of what potentially could have come by adding them to the roster."
Those uncertainties were considerable.
The SEC has warned its schools of potentially significant penalties for putting former NFL players on a college roster and recently took legal action against LSU. Clemson also warned that using former professional players could violate the contract governing Saturday night's matchup.
#professional
1 day ago
Beyoncé's BeyGOOD foundation is donating $200,000 to support relief efforts for those impacted by the recent floods in Indiana.
As announced by the foundation on its official website, the Beyoncé-founded organization is donating $200,000 to City Life Center and Angel by Nature, two foundations that are on the ground in Indiana to ***** ist with relief efforts. The recent floods in Indiana have left over 1,000 people without a home, and the donation will help to ***** ist recovery and relief efforts in the worst-affected areas, including the city of Gary.
The organizations are helping to provide food, household supplies, and other essentials to anyone impacted by the flooding.
COMPLEX SHOP: Shop the brands you love, anytime and anywhere. Uncover what's next. Buy. Collect. Obsess.
On August 11, the state of Indiana was hit with heavy rainfall and thunderstorms, causing widespread flooding. At least seven confirmed deaths have been reported, per CBS News, and Governor Mike Braun has declared a statewide disaster. Over one million people were left without power at the start of the flooding.
#city #impacted
As announced by the foundation on its official website, the Beyoncé-founded organization is donating $200,000 to City Life Center and Angel by Nature, two foundations that are on the ground in Indiana to ***** ist with relief efforts. The recent floods in Indiana have left over 1,000 people without a home, and the donation will help to ***** ist recovery and relief efforts in the worst-affected areas, including the city of Gary.
The organizations are helping to provide food, household supplies, and other essentials to anyone impacted by the flooding.
COMPLEX SHOP: Shop the brands you love, anytime and anywhere. Uncover what's next. Buy. Collect. Obsess.
On August 11, the state of Indiana was hit with heavy rainfall and thunderstorms, causing widespread flooding. At least seven confirmed deaths have been reported, per CBS News, and Governor Mike Braun has declared a statewide disaster. Over one million people were left without power at the start of the flooding.
#city #impacted
1 day ago
Key Takeaways
Bitcoin climbed back above $80,000 after Fed Governor Christopher Waller said cooling inflation could justify leaving interest rates unchanged in September.
Three-month core inflation has fallen from 4.76% in February to 3.05% through July, according to Waller, although annual PCE inflation remains well above the Fed's 2% target.
Markets are almost evenly divided over a Sept. 16 rate hike, making the upcoming August CPI report a major test for Bitcoin.
Bitcoin has returned above $80,000 as a sharp improvement in short-term US inflation data gives crypto traders a new reason to question whether the Federal Reserve will raise rates on Sept. 16.
#waller #sept #christopher #september
Bitcoin climbed back above $80,000 after Fed Governor Christopher Waller said cooling inflation could justify leaving interest rates unchanged in September.
Three-month core inflation has fallen from 4.76% in February to 3.05% through July, according to Waller, although annual PCE inflation remains well above the Fed's 2% target.
Markets are almost evenly divided over a Sept. 16 rate hike, making the upcoming August CPI report a major test for Bitcoin.
Bitcoin has returned above $80,000 as a sharp improvement in short-term US inflation data gives crypto traders a new reason to question whether the Federal Reserve will raise rates on Sept. 16.
#waller #sept #christopher #september
1 day ago
The United Nations General ***** embly on Friday endorsed a new world map that represents Africa more accurately in its larger size, a culmination of a recent campaign led by African countries and advocacy groups.
Friday's resolution, which was sponsored by Togo and backed by members of the African Union, was passed with 164 member states voting in favor. Only the U.S. voted against it while six other countries — Serbia, Estonia, Georgia, Lithuania, Moldova and Ukraine — abstained.
The vote encourages governments and institutions around the world to replace the traditional Mercator map, commonly used since the 16th Century, with the Equal Earth projection that advocates and geographers say shows locations more accurately.
The Mercator projection shows Greenland and Africa as appearing to be about the same size whereas in the Equal Earth projection that shows continents in their true proportions, Africa is 14 times larger than Greenland.
Friday's resolution does not ban the Mercator projection or impose a replacement, but only encourages the use of the Equal Earth projection, the U.N. said in its report.
#equal #african #World
Friday's resolution, which was sponsored by Togo and backed by members of the African Union, was passed with 164 member states voting in favor. Only the U.S. voted against it while six other countries — Serbia, Estonia, Georgia, Lithuania, Moldova and Ukraine — abstained.
The vote encourages governments and institutions around the world to replace the traditional Mercator map, commonly used since the 16th Century, with the Equal Earth projection that advocates and geographers say shows locations more accurately.
The Mercator projection shows Greenland and Africa as appearing to be about the same size whereas in the Equal Earth projection that shows continents in their true proportions, Africa is 14 times larger than Greenland.
Friday's resolution does not ban the Mercator projection or impose a replacement, but only encourages the use of the Equal Earth projection, the U.N. said in its report.
#equal #african #World
1 day ago
RTX Corporation (NYSE:RTX) is increasingly benefiting from surging demand for missiles, air-defense systems, and other military equipment as geopolitical tensions rise and governments expand defense spending. The stock is already up about 9% year-to-date, as investors increasingly price in the company's growing defense backlog and stronger long-term demand.
On September 1, the U.S. Department of War awarded RTX Corporation (NYSE:RTX)'s Raytheon business a $42.48 million cost-plus-fixed-fee contract for technical and engineering services supporting Navy air-traffic systems. The work includes engineering and restoration services for air-traffic navigation and coordination systems.
While relatively small compared with Raytheon's larger weapons contracts, the award comes amid a broader acceleration in defense spending.
Photo by Somchai Kongkamsri from Pexels
On August 17, Raytheon was awarded a $22.9 billion contract to accelerate production of Tomahawk cruise missiles. The agreement supports the annual production ramp-up of more than 1,000 Tomahawk missiles, along with **** ociated support and services.
#tomahawk
On September 1, the U.S. Department of War awarded RTX Corporation (NYSE:RTX)'s Raytheon business a $42.48 million cost-plus-fixed-fee contract for technical and engineering services supporting Navy air-traffic systems. The work includes engineering and restoration services for air-traffic navigation and coordination systems.
While relatively small compared with Raytheon's larger weapons contracts, the award comes amid a broader acceleration in defense spending.
Photo by Somchai Kongkamsri from Pexels
On August 17, Raytheon was awarded a $22.9 billion contract to accelerate production of Tomahawk cruise missiles. The agreement supports the annual production ramp-up of more than 1,000 Tomahawk missiles, along with **** ociated support and services.
#tomahawk
1 day ago
WASHINGTON (AP) — President Donald Trump has spent 20 months promising that America was on the cusp of an economic boom. But Friday's surprisingly positive jobs report ultimately provoked frustration from Trump.
The August job numbers might have been a welcome break from after months of sluggish hiring and concerns about inflation that have been weighing on Trump and his party two months from Election Day. But speaking from the Oval Office, Trump instead launched into a grievance session about inflation and interest rates. His anger was aimed at the financial markets, the Federal Reserve and U.S. trade partners. He objected to the commonly accepted notion in economics that the surprise gain of 162,000 jobs in August could contribute to inflationary pressures.
"Success does not cause inflation. Stupidity causes inflation," Trump vented in the Oval Office, as he declared it "crazy" that the stock markets fell Friday on inflation concerns.
The combination over his second term of a drop-off in hiring and higher prices has dogged Trump and his pledge to instantly unleash historic levels of growth. "When I win the election, we will immediately begin a brand new Trump economic boom," Trump said at an August 2024 rally in North Carolina. But so far, the economy has grown at roughly 2% annually, slower than the gains during the Biden administration.
Trump blamed his inability to deliver stronger growth on higher interest rates for U.S. government debt, saying on social media that America could retaliate by stopping trade with foreign countries. Rates have been climbing in response to persistently high inflation fueled by Trump's tariffs and oil shortages from the Iran war. The national debt has now crossed the daunting threshold of $40 trillion and rates on the 10-year U.S. Treasury note on Friday rose to 4.79%.
#august
The August job numbers might have been a welcome break from after months of sluggish hiring and concerns about inflation that have been weighing on Trump and his party two months from Election Day. But speaking from the Oval Office, Trump instead launched into a grievance session about inflation and interest rates. His anger was aimed at the financial markets, the Federal Reserve and U.S. trade partners. He objected to the commonly accepted notion in economics that the surprise gain of 162,000 jobs in August could contribute to inflationary pressures.
"Success does not cause inflation. Stupidity causes inflation," Trump vented in the Oval Office, as he declared it "crazy" that the stock markets fell Friday on inflation concerns.
The combination over his second term of a drop-off in hiring and higher prices has dogged Trump and his pledge to instantly unleash historic levels of growth. "When I win the election, we will immediately begin a brand new Trump economic boom," Trump said at an August 2024 rally in North Carolina. But so far, the economy has grown at roughly 2% annually, slower than the gains during the Biden administration.
Trump blamed his inability to deliver stronger growth on higher interest rates for U.S. government debt, saying on social media that America could retaliate by stopping trade with foreign countries. Rates have been climbing in response to persistently high inflation fueled by Trump's tariffs and oil shortages from the Iran war. The national debt has now crossed the daunting threshold of $40 trillion and rates on the 10-year U.S. Treasury note on Friday rose to 4.79%.
#august
1 day ago
Alix Earle's dad, Thomas, married Ashley Earle in 2013
Before they dated, Ashley was the subject of a **** scandal with former New York governor Eliot Spitzer
The couple share three children: Izabel, Penelope and Thomas James Earle II
Alix Earle and her stepmom, Ashley Earle, have a tight relationship.
"[We're] super close, and we've gotten to such a good point," the TikTok star told Elle in August 2023. "Whatever's happened in the past, we've all gotten past it as a family."
#we 've
Before they dated, Ashley was the subject of a **** scandal with former New York governor Eliot Spitzer
The couple share three children: Izabel, Penelope and Thomas James Earle II
Alix Earle and her stepmom, Ashley Earle, have a tight relationship.
"[We're] super close, and we've gotten to such a good point," the TikTok star told Elle in August 2023. "Whatever's happened in the past, we've all gotten past it as a family."
#we 've
1 day ago
Since the late 1890s, roughly three-quarters of all presidential terms have ended with the stock market delivering gains. But under President Donald Trump, the annualized returns of the Dow Jones Industrial Average (DJINDICES:^DJI), S&P 500 (SNPINDEX:^GSPC), and Nasdaq Composite (NASDAQINDEX:^IXIC) have been higher than under most other presidents.
While a significant chunk of these gains traces to the evolution of artificial intelligence and has little to do with the goings-on in Washington, D.C., fiscal policy changes implemented on Capitol Hill can impact business growth rates and the stock market. This places the spotlight squarely on the Nov. 3 midterm elections.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
For the first two years of President Trump's non-consecutive second term, he'll have enjoyed a unified government, with Republicans controlling a majority of seats in both houses of Congress. But this ideal scenario for the president may be about to change.
President Trump's unified government is at risk of disruption on Nov. 3. Image source: Official White House Photo.
#signal #little
While a significant chunk of these gains traces to the evolution of artificial intelligence and has little to do with the goings-on in Washington, D.C., fiscal policy changes implemented on Capitol Hill can impact business growth rates and the stock market. This places the spotlight squarely on the Nov. 3 midterm elections.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
For the first two years of President Trump's non-consecutive second term, he'll have enjoyed a unified government, with Republicans controlling a majority of seats in both houses of Congress. But this ideal scenario for the president may be about to change.
President Trump's unified government is at risk of disruption on Nov. 3. Image source: Official White House Photo.
#signal #little
1 day ago
Bitcoin news today shows the price rose more than 5% on September 3 to trade briefly above $82,000, as concerns about a Federal Reserve rate hike eased and Treasury yields fell. Fundstrat head of digital ******* ets Sean Farrell called the move important data worth respecting, while noting Bitcoin has bucked its historically weak September pattern over the past three years.
This is not simply a one-day rebound. It is the latest data point in a debate among strategists over whether the crypto bear market has already bottomed, a thesis complicated by volatile spot Bitcoin ETF flows and a seasonal track record that still favors caution.
DISCOVER: Upcoming Binance Listings
The token's move above $82,000 follows a 25% rally in August, a month strategists have flagged as a turning point after the Treasury Department's intervention in the bond market and ******* istance to ******* an helped lift both gold and crypto prices. Some of those August gains were erased when oil prices surged and hawkish remarks from Fed Chairman Kevin Warsh raised concerns about the central bank's September rate decision, before Fed governor Christopher Waller signaled openness to holding rates steady if inflation continues to ease.
Despite the rebound, Bitcoin remains roughly 7% lower year to date and about 35% below the all-time high of more than $126,000 it reached in early October 2025. September itself carries an unfavorable base rate: Farrell noted Bitcoin has posted negative returns in nine of the past 15 years during the month, though he cautioned that seasonality is a helpful data point rather than a foolproof trading system. For more on how Treasury-yield dynamics have shaped this resilience, see Bitcoin's macro pressure and resilience, and on the ETF side, BlackRock's IBIT and the current price setup.
#september #treasury #point #farrell
This is not simply a one-day rebound. It is the latest data point in a debate among strategists over whether the crypto bear market has already bottomed, a thesis complicated by volatile spot Bitcoin ETF flows and a seasonal track record that still favors caution.
DISCOVER: Upcoming Binance Listings
The token's move above $82,000 follows a 25% rally in August, a month strategists have flagged as a turning point after the Treasury Department's intervention in the bond market and ******* istance to ******* an helped lift both gold and crypto prices. Some of those August gains were erased when oil prices surged and hawkish remarks from Fed Chairman Kevin Warsh raised concerns about the central bank's September rate decision, before Fed governor Christopher Waller signaled openness to holding rates steady if inflation continues to ease.
Despite the rebound, Bitcoin remains roughly 7% lower year to date and about 35% below the all-time high of more than $126,000 it reached in early October 2025. September itself carries an unfavorable base rate: Farrell noted Bitcoin has posted negative returns in nine of the past 15 years during the month, though he cautioned that seasonality is a helpful data point rather than a foolproof trading system. For more on how Treasury-yield dynamics have shaped this resilience, see Bitcoin's macro pressure and resilience, and on the ETF side, BlackRock's IBIT and the current price setup.
#september #treasury #point #farrell
1 day ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Silver (SI=F) December futures opened at $67.63 per ounce on Friday, September 4, 2026, down 0.1% from Thursday's closing price. Silver prices were steady this morning, reaching $67.45 as of 6:59 a.m. ET.
Silver prices opened at their highest level this week ahead of the August jobs report, and following comments from a Fed governor who said he's willing to hold rates steady later this month.
Economists expect the U.S. added 55,000 jobs last month, a rebound from a decline in job growth in July. Data released earlier this week suggests the labor market remains in a holding pattern of minimal yet stable job growth.
Earlier this week, Fed Governor Chris Waller said he's open to holding rates steady if next week's inflation report shows price gains are easing. This certainly puts the spotlight squarely on today's jobs numbers and next week's inflation report.
#silver #steady #Jobs #report
Silver (SI=F) December futures opened at $67.63 per ounce on Friday, September 4, 2026, down 0.1% from Thursday's closing price. Silver prices were steady this morning, reaching $67.45 as of 6:59 a.m. ET.
Silver prices opened at their highest level this week ahead of the August jobs report, and following comments from a Fed governor who said he's willing to hold rates steady later this month.
Economists expect the U.S. added 55,000 jobs last month, a rebound from a decline in job growth in July. Data released earlier this week suggests the labor market remains in a holding pattern of minimal yet stable job growth.
Earlier this week, Fed Governor Chris Waller said he's open to holding rates steady if next week's inflation report shows price gains are easing. This certainly puts the spotlight squarely on today's jobs numbers and next week's inflation report.
#silver #steady #Jobs #report
1 day ago
On August 13, Legence Corp. (NASDAQ:LGN) reported second-quarter results that more than doubled the company's revenue from a year earlier, a jump big enough to make even seasoned investors do a double take. Strip out the contribution from the company's Bowers acquisition and the underlying business still grew 60%. But dig one line deeper into the same report and a less flattering picture shows up: profitability per dollar of revenue actually shrank, and the bottom line posted a wider loss than it did last year. That contrast, blistering growth paired with thinning margins, is the story investors now have to sort out.
The headline number was revenue of $1.26 billion for the quarter, up 110.7% from $598.9 million a year ago. Adjusted EBITDA climbed even faster in percentage terms, rising 114.1% to $154.6 million, which tells you the company managed to grow its cash-generating profit measure roughly in step with the top line even during a period of heavy acquisition-driven expansion. Backlog and awarded contracts, effectively the pipeline of future work already on the books, reached $5.67 billion, more than double the $2.77 billion Legence held a year earlier.
That backlog is not concentrated in one place either. While data centers and technology remained the biggest driver, management pointed to healthy activity across life sciences and healthcare, state and local government, and education as well, spreading the growth across several end markets rather than resting it on a single customer type. The Installation & Maintenance segment did the heavy lifting, with revenue up 162% to $1.06 billion, and even after removing the Bowers acquisition's impact, that segment still grew 86.6% on its own.
Management also used the quarter to raise its full-year guidance, now targeting $4.7 billion to $4.8 billion in revenue, up from a prior range of $4.1 billion to $4.3 billion, alongside adjusted EBITDA guidance lifted to $565 million to $585 million from $470 million to $490 million.
The same report shows profitability moving in the opposite direction of revenue. Gross margin fell to 17.4% from 21.5% a year ago, and the non-GAAP adjusted version slipped to 18.5% from 21.8%, a shift the company attributed to a revenue mix leaning more heavily toward lower-margin installation and maintenance work. The Engineering & Consulting segment felt this directly, with gross profit down 12.4% to $56.1 million even as its revenue grew, a sign that pricing and cost pressure in that business outpaced its sales growth. Net loss attributable to Legence widened to $27.8 million from $5.3 million a year earlier, and the company's total net loss grew to $34.6 million from $3.9 million.
#year #grew #adjusted
The headline number was revenue of $1.26 billion for the quarter, up 110.7% from $598.9 million a year ago. Adjusted EBITDA climbed even faster in percentage terms, rising 114.1% to $154.6 million, which tells you the company managed to grow its cash-generating profit measure roughly in step with the top line even during a period of heavy acquisition-driven expansion. Backlog and awarded contracts, effectively the pipeline of future work already on the books, reached $5.67 billion, more than double the $2.77 billion Legence held a year earlier.
That backlog is not concentrated in one place either. While data centers and technology remained the biggest driver, management pointed to healthy activity across life sciences and healthcare, state and local government, and education as well, spreading the growth across several end markets rather than resting it on a single customer type. The Installation & Maintenance segment did the heavy lifting, with revenue up 162% to $1.06 billion, and even after removing the Bowers acquisition's impact, that segment still grew 86.6% on its own.
Management also used the quarter to raise its full-year guidance, now targeting $4.7 billion to $4.8 billion in revenue, up from a prior range of $4.1 billion to $4.3 billion, alongside adjusted EBITDA guidance lifted to $565 million to $585 million from $470 million to $490 million.
The same report shows profitability moving in the opposite direction of revenue. Gross margin fell to 17.4% from 21.5% a year ago, and the non-GAAP adjusted version slipped to 18.5% from 21.8%, a shift the company attributed to a revenue mix leaning more heavily toward lower-margin installation and maintenance work. The Engineering & Consulting segment felt this directly, with gross profit down 12.4% to $56.1 million even as its revenue grew, a sign that pricing and cost pressure in that business outpaced its sales growth. Net loss attributable to Legence widened to $27.8 million from $5.3 million a year earlier, and the company's total net loss grew to $34.6 million from $3.9 million.
#year #grew #adjusted
1 day ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Gold (GC=F) December futures opened at $4,522 per troy ounce on Friday, September 4, 2026, down 0.4% from Thursday's closing price. The price of gold is pretty steady this morning at $4,521.40 per troy ounce as of 6:45 a.m. ET.
Gold opened at its highest price all week this morning ahead of the August jobs report. Economists expect the U.S. to have added 55,000 jobs last month, a rebound from a surprising decline in job growth in July. Economic data released earlier this week suggests the labor market remains stuck in a pattern of minimal but stable growth.
Coupling a modest jobs report with comments this week from Fed Governor Chris Waller that he's open to holding rates steady if next week's inflation report shows price gains are easing, and bets that the Fed will be raising rates later this month have backed off, giving gold prices some more room to breathe.
The opening price of gold futures on Friday, September 4, 2026, was down 0.4% from Thursday's closing price. Here's a look at how the opening gold price has changed versus last week, month, and year:
#Friday #futures #opened
Gold (GC=F) December futures opened at $4,522 per troy ounce on Friday, September 4, 2026, down 0.4% from Thursday's closing price. The price of gold is pretty steady this morning at $4,521.40 per troy ounce as of 6:45 a.m. ET.
Gold opened at its highest price all week this morning ahead of the August jobs report. Economists expect the U.S. to have added 55,000 jobs last month, a rebound from a surprising decline in job growth in July. Economic data released earlier this week suggests the labor market remains stuck in a pattern of minimal but stable growth.
Coupling a modest jobs report with comments this week from Fed Governor Chris Waller that he's open to holding rates steady if next week's inflation report shows price gains are easing, and bets that the Fed will be raising rates later this month have backed off, giving gold prices some more room to breathe.
The opening price of gold futures on Friday, September 4, 2026, was down 0.4% from Thursday's closing price. Here's a look at how the opening gold price has changed versus last week, month, and year:
#Friday #futures #opened
1 day ago
By Marcela Ayres
BRASILIA, Sept 4 (Reuters) - Brazil's wealthiest captured a record share of national income under President Luiz Inacio Lula da Silva, tax-return data show, offering a striking counterpoint to the leftist leader's effort to convince voters that gains have been widely shared under his administration as he seeks reelection in October.
Lula has pointed to falling inequality, as measured by a record-low Gini coefficient in 2024, and rising employment as evidence that his administration prioritizes poorer Brazilians.
But tax-return data paint a more complex picture: high interest rates, partly a consequence of increased government spending, fueled a boom in financial income that disproportionately benefited the wealthy, even as stronger labor markets, wage gains, and social programs improved conditions at the bottom of the income distribution.
"If government benefits, on the one hand, are well targeted, they can have a positive social impact," said Otaviano Canuto, a former World Bank vice president.
#income #record
BRASILIA, Sept 4 (Reuters) - Brazil's wealthiest captured a record share of national income under President Luiz Inacio Lula da Silva, tax-return data show, offering a striking counterpoint to the leftist leader's effort to convince voters that gains have been widely shared under his administration as he seeks reelection in October.
Lula has pointed to falling inequality, as measured by a record-low Gini coefficient in 2024, and rising employment as evidence that his administration prioritizes poorer Brazilians.
But tax-return data paint a more complex picture: high interest rates, partly a consequence of increased government spending, fueled a boom in financial income that disproportionately benefited the wealthy, even as stronger labor markets, wage gains, and social programs improved conditions at the bottom of the income distribution.
"If government benefits, on the one hand, are well targeted, they can have a positive social impact," said Otaviano Canuto, a former World Bank vice president.
#income #record
1 day ago
By Anna Szymanski
Sept 4 (Reuters) - From the Editor
Are the vigilantes back? Bond yields spiked across developed markets this week, with many hitting multi-decade highs, as rising deficits, elevated inflation and a surge of AI-driven corporate debt issuance left traders demanding higher compensation for the risk of holding longer-term government debt.
Far from a moral crusade by fixed income investors seeking to influence fiscal policy, this instead looks like a logical response to the economic facts on the ground, including the dawning reality that borrowing rates in many large markets are likely going to be higher for longer.
Over the past week, the benchmark U.S. 10-year Treasury yield surged to roughly 4.80%, hitting its highest point since President Donald Trump returned to the White House early last year. This undid any positive impact from Treasury Secretary Scott Bessent's bond-buying announcement two weeks ago.
#markets #many #hitting #debt
Sept 4 (Reuters) - From the Editor
Are the vigilantes back? Bond yields spiked across developed markets this week, with many hitting multi-decade highs, as rising deficits, elevated inflation and a surge of AI-driven corporate debt issuance left traders demanding higher compensation for the risk of holding longer-term government debt.
Far from a moral crusade by fixed income investors seeking to influence fiscal policy, this instead looks like a logical response to the economic facts on the ground, including the dawning reality that borrowing rates in many large markets are likely going to be higher for longer.
Over the past week, the benchmark U.S. 10-year Treasury yield surged to roughly 4.80%, hitting its highest point since President Donald Trump returned to the White House early last year. This undid any positive impact from Treasury Secretary Scott Bessent's bond-buying announcement two weeks ago.
#markets #many #hitting #debt
2 days ago
Bitcoin (CRYPTO:BTC) rose 5.5% to $81,491.82, Ethereum (CRYPTO:ETH) rose 5.2% to $2,511.01, and Solana (CRYPTO:SOL) rose 5.9% to $105.30 as of early evening on Sept. 3. The total crypto market cap increased 4.7% to $2.82 trillion as crypto risk appetite returned.
Bitcoin retook the $81,000 mark for the first time since May as cryptocurrency markets benefited from concerns about rising bond yields and lower odds of a Federal Reserve rate hike. Fed Governor Christopher Waller said he would support leaving rates unchanged as long as there's not a dramatic shift in inflation figures.
Spot Bitcoin ETFs inflows improved, with around $101.1 million in net inflows yesterday, led by the iShares Bitcoin Trust ETF (IBIT). Ethereum ETFs broke a 12-day winning streak of inflows yesterday, but today's data may show institutional funds returning.
Bitcoin has gained almost 27% in the past month as confidence returns to the market -- the crypto fear and greed index, which measures investors' mood, has moved from extreme fear a month ago to greed today. The lead crypto isn't close to retaking its all-time high just yet, but the rapid recovery is a reminder to long-term investors that crypto winters do pass and that sentiment can quickly swing from gloom to optimism.
That said, cryptocurrency prices remain susceptible to macro factors in the near term. The recent rally was helped by bond market turmoil and concerns about the value of the U.S. dollar, but inflation, interest rates, and the tensions in the Middle East could all weigh on investor confidence. Particularly as economists still think there's a 50.5% chance of a rate hike and higher rates tend to pressure riskier ***** ets like crypto.
#ethereum
Bitcoin retook the $81,000 mark for the first time since May as cryptocurrency markets benefited from concerns about rising bond yields and lower odds of a Federal Reserve rate hike. Fed Governor Christopher Waller said he would support leaving rates unchanged as long as there's not a dramatic shift in inflation figures.
Spot Bitcoin ETFs inflows improved, with around $101.1 million in net inflows yesterday, led by the iShares Bitcoin Trust ETF (IBIT). Ethereum ETFs broke a 12-day winning streak of inflows yesterday, but today's data may show institutional funds returning.
Bitcoin has gained almost 27% in the past month as confidence returns to the market -- the crypto fear and greed index, which measures investors' mood, has moved from extreme fear a month ago to greed today. The lead crypto isn't close to retaking its all-time high just yet, but the rapid recovery is a reminder to long-term investors that crypto winters do pass and that sentiment can quickly swing from gloom to optimism.
That said, cryptocurrency prices remain susceptible to macro factors in the near term. The recent rally was helped by bond market turmoil and concerns about the value of the U.S. dollar, but inflation, interest rates, and the tensions in the Middle East could all weigh on investor confidence. Particularly as economists still think there's a 50.5% chance of a rate hike and higher rates tend to pressure riskier ***** ets like crypto.
#ethereum
2 days ago
U.S. President Donald Trump told oil producers and refiners that he wants lower gasoline prices, immediately, at a meeting at the White House this week.
As gasoline prices remain above $4 per gallon on average across the United States and drivers are heading for the most expensive Labor Day weekend gas prices on record, President Trump urged executives from Chevron, Marathon Petroleum, Valero Energy, and PBF Energy, among others, to raise refining capacity to increase fuel availability.
The problem for the U.S. Administration two months ahead of the mid-term elections is that American refiners cannot raise output in the short term. They have been running at full capacity for the entire summer, as the U.S.-Iran war has crippled crude and fuel supply out of the Middle East and depleted global inventories after many governments, including the U.S., tapped strategic resources to ease the worst supply disruption in the history of oil markets.
Refiners do not have an immediate solution to the high prices at the pump—except, of course, a major de-escalation and a lasting deal with Iran. But none of the significant levers to lower U.S. fuel prices are in the hands of the U.S. refiners.
No Easy Fix
#energy
As gasoline prices remain above $4 per gallon on average across the United States and drivers are heading for the most expensive Labor Day weekend gas prices on record, President Trump urged executives from Chevron, Marathon Petroleum, Valero Energy, and PBF Energy, among others, to raise refining capacity to increase fuel availability.
The problem for the U.S. Administration two months ahead of the mid-term elections is that American refiners cannot raise output in the short term. They have been running at full capacity for the entire summer, as the U.S.-Iran war has crippled crude and fuel supply out of the Middle East and depleted global inventories after many governments, including the U.S., tapped strategic resources to ease the worst supply disruption in the history of oil markets.
Refiners do not have an immediate solution to the high prices at the pump—except, of course, a major de-escalation and a lasting deal with Iran. But none of the significant levers to lower U.S. fuel prices are in the hands of the U.S. refiners.
No Easy Fix
#energy
