World
AI Summary
- SpaceX has finalized its IPO pricing at $135 per share, marking the largest public offering in history and potentially valuing Elon Musk's company at $1.77 trillion, signaling robust investor confidence in the burgeoning space economy.
- Amidst escalating global tensions, the Middle East remains a focal point with exchanges of strikes between the US and Iran, leading to concerns over inflation and potential disruptions to critical trade routes like the Strait of Hormuz.
- The US faces domestic challenges including political debates over surveillance laws like FISA Section 702, proposed changes to mail-in ballot delivery, and nominations for key intelligence positions, alongside a projected earlier insolvency for Social Security.
- Environmental concerns are prominent, with scientists confirming the arrival of 'Super El Niño' and warning of its potential severity, while a recent study highlights the devastating impact of extreme rain in Indonesia on rare ape populations.
- Global brands are under scrutiny as an investigation suggests the likely use of minerals funding rebels accused of atrocities in the Democratic Republic of Congo, underscoring ongoing ethical and supply chain challenges worldwide.
ZeroHedge
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Trump Nominates US Attorney Jay Clayton As Director Of National Intelligence
an hour ago
by Tyler Durden
Trump Nominates US Attorney Jay Clayton As Director Of National Intelligence Authored by Jack Phillips via The Epoch Times, President Donald Trump on Thursday said he is nominating Jay Clayton, the U.S. Attorney for the Southern District of New York, to be his director of national intelligence. The move comes weeks after former intelligence chief Tulsi Gabbard said she is stepping down from the role. Trump, in announcing the decision on Truth Social, wrote that “few people anywhere” in the legal community have as much respect as Clayton, the former head of the Securities and Exchange Commission (SEC), whom the
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One Forgotten Housing Supply-Side Lever Could Unfreeze Affordability
an hour ago
by Tyler Durden
One Forgotten Housing Supply-Side Lever Could Unfreeze Affordability Rental affordability remains far superior to mortgage affordability, with the U.S. 30-year fixed mortgage rate trending around 6.5% in early June. With home prices still at record highs, last week's housing report showing sellers pulling listings at a near-record pace as buyers balk at prices is yet another warning sign that the frozen housing market remains well intact. The Trump administration's affordable housing strategy focuses on market deregulation, expanded homeownership, stricter citizenship requirements for federal housing assistance, and Fannie Mae and Freddie Mac purchasing $200 billion of their own mortgage-backed securities to
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Polls Turn Against Netanyahu As Trump Says PM 'May Quit Politics'
2 hours ago
by Tyler Durden
Polls Turn Against Netanyahu As Trump Says PM 'May Quit Politics' Via The Cradle A poll published by an Israeli research center on Tuesday has revealed that most Israelis do not want Prime Minister Benjamin Netanyahu to run in the upcoming election . The poll was released by the Viterbi Center for Public Opinion and Policy Research at the Israel Democracy Institute, based in occupied Jerusalem. It was conducted between May 31 and June 5. According to the results, 61 percent of Israelis believe Netanyahu should not run in the elections . Thirty-five percent were in favor of the premier
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Crisis Comes Closer: Social Security's Projected Insolvency Moved A Year Earlier
2 hours ago
by Tyler Durden
Crisis Comes Closer: Social Security's Projected Insolvency Moved A Year Earlier Continuing a trend of increasingly dismal projections, Social Security's trustees have revised their prediction of when the massive benefit program's trust fund will run out of money, moving it to the fourth quarter of 2032 , sooner than last year's projection that the money will run out in 2033. They attributed most of the the change to declining fertility rates and immigration, along with tax reductions included in Trump's 2025 One Big Beautiful Bill Act (OBBBA). When the trust fund runs out, money will still be coming into the
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Karen Bass' Brother Joins Class-Action Lawsuit Against Karen Bass over LA Wildfires
2 hours ago
by Tyler Durden
Karen Bass' Brother Joins Class-Action Lawsuit Against Karen Bass over LA Wildfires Authored by Luis Cornelio via Headline USA , The brother of embattled Los Angeles Mayor Karen Bass has sued the very city government his sister leads , alleging officials failed to protect homeowners and business owners during the destructive Palisades Fire. Kenneth Bass and his wife Cindy joined a class-action lawsuit in May against the City of Los Angeles, alleging the city failed to fill the Santa Ynez Reservoir when the wildfire broke out on January 7, 2025, according to multiple reports. The lawsuit, filed on May 18,
The Guardian
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London council seizes social housing flat rented by Sierra Leone first lady
8 hours ago
by Sundus Abdi
Social housing, Housing, Communities, Society, London, UK news, Local government, Sierra Leone, AfricaFatima Jabbe-Bio kept tenancy in Southwark despite living for much of year at presidential lodge in Freetown A social housing flat rented by Sierra Leone’s first lady has been seized by a London council. Southwark council confirmed it had repossessed the two-bedroom home in Walworth previously occupied by Fatima Jabbe-Bio, whose tenancy was reported by the Times last year. Continue reading...
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Trump targeting immigrants from countries hit most by climate shocks
a day ago
by Oliver Milman
US immigration, Climate crisis, Refugees, Trump administration, Donald Trump, Fossil fuels, Hurricanes, Extreme heat, Flooding, Drought, Wildfires, Extreme weather, Pollution, Environment, United Nations, Chad, Niger, Sudan, Somalia, Sierra Leone, Honduras, Syria, Haiti, Africa, Americas, Caribbean, Middle East and north Africa, US politics, US news, World newsA Guardian analysis reveals how most of 39 countries facing US entry restrictions are most vulnerable environmentally ‘Every day it’s more barriers’: how the US is shutting out climate refugees Donald Trump ’s immigration crackdown is largely targeting people from the countries most vulnerable to displacement from climate-driven disasters, a Guardian analysis shows. As the Trump administration pushes policies to boost planet-heating fossil fuels , millions of people are being forced to flee their homelands due to storms, floods and droughts worsened by the climate crisis . Continue reading...
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Global brands ‘likely’ using mineral that funds rebels accused of atrocities in DRC, investigation finds
2 days ago
by Mark Townsend
Global development, Conflict and arms, Mining, Technology, Democratic Republic of the Congo, Rwanda, Africa, Amazon, Sony, Microsoft, Nvidia, World news, Business, Human rightsAmazon and Sony among firms that may have sourced coltan, used in phones, from supply chains controlled by the M23 rebels, says Global Witness Leading global brands including Amazon, Ericsson and Sony are “likely” to have sourced minerals linked to a militia accused of widespread sexual violence, summary executions and torture, a new investigation claims. The companies allegedly, but unknowingly, acquired coltan smuggled from mines in the Democratic Republic of the Congo (DRC) that are occupied by the M23 militia , which has committed myriad atrocities in eastern DRC. Continue reading...
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Man shot dead during protest against proposed US Ebola quarantine facility in Kenya
2 days ago
by Carlos Mureithi in Nairobi and agencies
Kenya, Ebola, US news, Africa, World newsPolice dispersed demonstrators in Nanyuki, 120 miles from Nairobi, amid rising anger at US plans Kenyan police have shot dead a man during a protest against a proposed Ebola quarantine facility for US citizens. Patrick Wahome, who has organised protests in Nanyuki against the centre, told Reuters on Tuesday the man died from a gunshot wound to the head. Reporters from the agency saw his body lying motionless in a police van with a large head wound. Continue reading...
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Bandits in north-west Nigeria abduct villagers they invited to discuss peace talks
3 days ago
by Serena Richards and agencies
Nigeria, Africa, World newsThirty-nine people taken near Magamin Diddi village in Maradun municipality, north-west Zamfara state, police say Armed bandits in north-west Nigeria abducted dozens of villagers whom they invited to a meeting about potential peace negotiations, authorities and residents said on Monday, highlighting the region’s worsening security. According to local police, 39 people were seized on Sunday during a meeting in the forest near Magamin Diddi village in the Maradun municipality of north-west Zamfara state. But some residents and officials believe the number of those abducted could be as high as 50. Continue reading...
South China Morning Post
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SpaceX prices record IPO that could make Musk a trillionaire
an hour ago
by Agence France-Presse
Elon Musk’s SpaceX on Thursday confirmed it will begin trading on the Nasdaq exchange Friday in the biggest initial public offering in history, a blockbuster market debut that could propel the entrepreneur to trillionaire status. In a filing with the US markets regulator, the company priced more than 555 million shares at US$135 each, placing SpaceX in the top 10 of Wall Street’s biggest companies with a valuation of just under US$1.8 trillion. It will be valued more than Musk’s own Tesla car...
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Canadian policeman killed during investigation tied to US consulate shooting
an hour ago
by Associated Press
A Toronto police officer was shot and killed Thursday by a suspect in the investigation into a shooting attack that damaged the facade of the US consulate in the Canadian city in March, police said. One 19-year-old suspect was in custody at a hospital in critical condition while officers searched for a second suspect, who was identified as 19-year-old Zara Jabbi and was considered armed and dangerous, Toronto Police Chief Myron Demkiw said at a news conference. “I urge you to turn yourself in,”...
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Biotech firm WuXi sues US over allegations it supports China’s military
2 hours ago
by Reuters
A Chinese biotechnology company sued the US government on Thursday over being placed on a list of businesses from China that the US Department of Defence has linked to that country’s military. WuXi AppTec filed its complaint in the Washington federal court, calling its inclusion on the list arbitrary, capricious, unsupported by the facts and “the product of political pressure”. It also accused the US government of inflicting substantial reputational and operational harm by branding it a...
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US targets Cuba oil giant as Beijing and Havana deepen party ties
3 hours ago
by Teresa Elena Frontado
The Trump administration on Thursday imposed sanctions on Cuba’s state-owned oil and gas company, escalating pressure on Havana’s communist government and targeting a sector central to the island’s worsening energy crisis. The move came hours after senior Chinese and Cuban officials held a video conference to discuss bilateral cooperation and party-to-party ties. According to statements released by Chinese and Cuban officials, the talks involved Liu Haixing, head of the International Department...
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Trump taps Wall Street top cop Jay Clayton as spy chief after Pulte backlash
4 hours ago
by Bloomberg
US President Donald Trump said he is nominating Jay Clayton to be the next director of national intelligence, following controversy over his selection of housing regulator Bill Pulte to serve in the role on an acting basis. Clayton has been serving as the top federal prosecutor in Manhattan and was chairman of the Securities and Exchange Commission during Trump’s first term. “I encourage the United States Senate to confirm Jay as soon as possible,” Trump said on social media. Trump stunned...
New York Times
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SpaceX Finalizes IPO Price at $135 a Share in World’s Largest Public Offering
2 hours ago
by Ryan Mac
Musk, Elon, Space Exploration Technologies Corp, Initial Public Offerings, Private Spaceflight, Satellites, Space and Astronomy, Artificial Intelligence, Stocks and Bonds, Start-ups, High Net Worth Individuals, Starlink Satellite Constellation (SpaceX)Elon Musk’s rocket company said it would sell more than 555 million shares at $135 each in its blockbuster initial public offering, which is set to begin trading on Friday.
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Skeptics Question Whether SpaceX Is Worth $1.77 Trillion
3 hours ago
by Ryan Mac and Mike Isaac
Musk, Elon, Initial Public Offerings, Space Exploration Technologies Corp, Goldman Sachs Group Inc, Morgan Stanley, Computers and the Internet, Space and Astronomy, Private Spaceflight, Start-ups, Stocks and Bonds, Data Centers, X (Formerly Twitter), Burry, Michael, Chanos, James SElon Musk’s rocket company is spending big and losing money. That has raised questions about whether it can justify its valuation for its blockbuster initial public offering.
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Absent From the SpaceX and OpenAI I.P.O.s? Chinese Investors.
4 hours ago
by Alexandra Stevenson, Maureen Farrell and Lauren Hirsch
China, Space Exploration Technologies Corp, OpenAI Labs, Initial Public Offerings, International Relations, United States, Artificial Intelligence, Regulation and Deregulation of Industry, Foreign Investments, Hong KongSpaceX will not raise money from investors in China and Hong Kong. Others firms, like OpenAI, may follow suit.
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The World Cup Is Officially Underway
an hour ago
by Matthew Cullen
Also, Trump picks a new intelligence chief. Here’s the latest at the end of Thursday.
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Trump Picks Jay Clayton for Director of National Intelligence After Backlash Over Bill Pulte
25 minutes ago
by Julian E. Barnes, Jonah E. Bromwich, Devlin Barrett and Benjamin Weiser
Clayton, Walter J, Pulte, William J (1988- ), Trump, Donald J, Office of the Director of National Intelligence, Appointments and Executive Changes, Surveillance of Citizens by Government, Espionage and Intelligence Services, United States Attorneys, Senate, United States Politics and Government, Gabbard, Tulsi (1981- )The president said he would nominate Jay Clayton, the U.S. attorney in Manhattan and the former chairman of the Securities and Exchange Commission, for the permanent role.