World
AI Summary
- New York is experiencing a significant financial downturn due to a millionaire exodus, impacting billions in lost revenue, while simultaneously facing energy shortages attributed to a data center boom, leading to a year-long ban on new data centers.
- Global supply chains are facing new risks as China implements a helium export ban, while Venezuela's oil revival is hampered by critical services bottlenecks, and Iran vows to halt oil and gas exports amid regional conflict.
- The financial world is abuzz with Lucid denying bankruptcy rumors and staging a recovery, IBM shares plummeting amidst capital expenditure woes, and a study revealing that a significant majority of stocks underperform the market, with many destroying shareholder wealth.
- Geopolitical tensions are rising with Rubio pledging to dismantle the International Criminal Court's perceived threat to US sovereignty, and the US launching strikes on Iran while reinforcing blockades on its ports, escalating conflict in the Strait of Hormuz.
- AI companies are rapidly absorbing office space at unprecedented rates, according to recent reports, signaling a significant shift in commercial real estate demand, while Apple faces downgraded ratings due to fears of a growth slowdown.
ZeroHedge
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New York's Millionaire Exodus Is Costing Billions In Lost Revenue
38 minutes ago
by Tyler Durden
New York's Millionaire Exodus Is Costing Billions In Lost Revenue Mayor Zohran Mamdani stood outside Ken Griffin's $238 million Manhattan penthouse in April and declared victory. "When I ran for mayor, I said I was going to tax the rich. Well, today we're taxing the rich," he said in a social media video marking the debut of New York City's first pied-à-terre tax, an annual fee on luxury properties worth more than $5 million whose owners do not live in the city full time. He promised the tax would raise "at least $500 million directly for the city," money he
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Largest US Power Grid Is 6.8 Gigawatts Short To Ensure Reliability On Historic Data Center Boom
an hour ago
by Tyler Durden
Largest US Power Grid Is 6.8 Gigawatts Short To Ensure Reliability On Historic Data Center Boom The largest US power grid failed for a third straight year to secure enough future supply commitments to ensure reliability for the future amid a historic boom in data center demand. PJM Interconnection, the largest US power grid (Regional Transmission Organization), which serves 67 million customers in 13 states and Washington, DC, said its auction to procure power for the year starting June 2028 fell 6.8 gigawatts short of what it will need to guarantee system reliability during demand spikes , in a statement
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Rubio Pledges To Dismantle International Criminal Court's Threat To US Sovereignty
2 hours ago
by Tyler Durden
Rubio Pledges To Dismantle International Criminal Court's Threat To US Sovereignty Authored by Victoria Friedman via The Epoch Times, The State Department is launching a campaign to “dismantle the threat posed by the International Criminal Court to U.S. sovereignty,” the department said, including through disabling the court’s ability to target American servicemen or officials. The State Department said in a July 13 statement that actions under consideration include U.S. officials contacting foreign nations to highlight the ICC’s abuses and the risk posed to other countries by the court, and urging them to withdraw from the body. The Trump administration is
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New York Becomes First State To Enact One Year Ban On New Data Centers
2 hours ago
by Tyler Durden
New York Becomes First State To Enact One Year Ban On New Data Centers The blowback against data centers escalated this morning, when New York became first state in the nation to enact a moratorium on data centers, pausing construction on new facilities for one year. An executive order by Gov. Kathy Hochul bans state lawmakers from approving environmental permits for hyperscale data centers. Hochul said Tuesday the pause will give lawmakers time to create a framework to protect residents and the environment. "Massive data centers are being built across our state and our country. The scale and speed of
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Offload Risks Onto The Bottom 90% And Immiseration Follows
2 hours ago
by Tyler Durden
Offload Risks Onto The Bottom 90% And Immiseration Follows Authored by Charles Hugh Smith via OfTwoMinds blog, The underlying story of the past 50 years has been the offloading of risk onto workers and consumers. On my map of how the world works , we start with structures of control that distribute the good stuff--resources, assets, income and power--and the bad stuff: costs, losses and risks. As I explained in The US Economy In a Nutshell: Privatize the Gains, Socialize the Costs , the current arrangement distributes the gains to the top 10% and the costs and risks to the
The Guardian
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New US Ebola patient arrives in Germany for treatment
10 hours ago
by AFP and Reuters
Ebola, US news, Democratic Republic of the Congo, Trump administration, Germany, Africa, US politics, Europe, Health, World newsAid worker flown to Berlin as Trump administration bars Americans from traveling to US on commercial flights A US national who contracted Ebola in the Democratic Republic of the Congo has arrived in Germany for treatment, the health ministry in Berlin said on Monday, weeks after another American infected with Ebola in the DRC was treated in Berlin. Meanwhile, the Trump administration on Monday said it was blocking American citizens in the DRC from traveling to the US on commercial flights, Reuters reported, citing a White House official. Continue reading...
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Killings continue on Del Monte farm in Kenya, families say, after G4S hired for security
a day ago
by Edwin Okoth and Matthew Weaver
Kenya, Africa, World news, Food & drink industry, G4S, BusinessExclusive: Three men killed in incidents over past year allegedly involving G4S guards, who replaced in-house team after previous deaths Bereaved families and politicians have raised alarm about continued killings on Del Monte’s pineapple farm in Kenya despite the company hiring a British security firm to replace its in-house security team after previous deaths were exposed by the Guardian. The multinational food company appointed G4S to guard the farm, which is estimated to cover at least 40 sq km, the area of a small city, after the Guardian detailed allegations of brutal assaults and killings of people suspected of trespassing
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First patients enrolled in record-breaking Ebola treatment trial in DRC
3 days ago
by Kat Lay, Global health correspondent and Prosper Heri in Bunia
Global health, Ebola, Global development, World news, Infectious diseases, Democratic Republic of the Congo, Africa, Medical research, ScienceTwo drugs are being trialled in the Ituri region in a programme set up just six weeks after the outbreak was declared, with hopes it will reduce mortality rates There is no approved drug to help the medical teams scrabbling to save lives in the Ebola outbreak in the Democratic Republic of the Congo – but there are hopes that could change within months as the first patients are enrolled in a treatment trial. It is a record pace to set up and start this kind of research, scientists said, with patients enrolled just six weeks after the outbreak being
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Nigeria says army has killed 300 bandits in north-western state of Zamfara
3 days ago
by William Christou
Nigeria, Africa, World news, Islamic State, Boko HaramVigilantes also took part in the fight that raged all night and the following morning, residents say Nigerian soldiers killed more than 300 members of kidnapping and cattle bandit gangs in the north-western state of Zamfara this week, according to a government official. Government troops targeted the gangs in Gummi district in a two-day operation that “led to the elimination of more than 300 terrorists”, Zamfara’s information commissioner, Mahmud Muhammad Dantawasa, said in a statement. Continue reading...
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Developing countries spend more repaying foreign debt than on education, UN reveals
5 days ago
by Kaamil Ahmed
Global education, Global development, Aid, Debt relief, United Nations, World news, Africa, Education, Schools, Society, Global economy, Economics, Unesco, ChildrenUnesco report shows children lost out to servicing debt in 113 countries, with 18 spending five times more on loans Most developing countries spent less on education than they did repaying debt last year, according to the UN, at the same time as global aid to education is predicted to decline by up to 30%. More was spent on servicing foreign debt than on education in 113 developing countries in 2025, according to research by the UN’s culture and education agency, Unesco. In sub-Saharan Africa, countries spent 3.6 times more on debt than education . Continue reading...
South China Morning Post
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‘Gus’ the T. rex fetches record US$50.1 million at US auction
2 hours ago
by Agence France-Presse
A Tyrannosaurus rex skeleton nicknamed “Gus” sold on Tuesday for US$50.1 million at Sotheby’s in New York, making it the most valuable dinosaur fossil bought at auction, after a 10-minute battle between seven bidders. “Gus” is one of the world’s most complete T. rex skeletons – with 183 fossilised bones – and was discovered on a cattle ranch in South Dakota in 2021. The giant beast lived some 72 to 66 million years ago – a period characterised by a warm climate, high sea levels and vast...
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Supreme Court justices facing spike in threats, they tell US lawmakers
2 hours ago
by Associated Press
US Supreme Court Justice Amy Coney Barrett told lawmakers Tuesday that a sharp increase in threats targeting her and other justices is increasingly encroaching on their personal and family lives. During a rare appearance by justices before Congress, Barrett said she had to take a bulletproof vest home a few years ago, something she struggled to explain to her 12-year-old son. “I didn’t expect that performing this service would put me in the position of explaining to my children what a...
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Warren Buffett cuts off donations to Bill Gates’ charity after Epstein revelations
3 hours ago
by Reuters
Warren Buffett has stopped donating to the Gates Foundation, ending a two-decade philanthropic partnership following revelations about interactions between Microsoft co-founder and philanthropist Bill Gates and the late sex offender Jeffrey Epstein. Buffett said on Tuesday that he was donating about US$6 billion of Berkshire Hathaway stock, comprising 12 million Class B shares, in his annual midyear donation to four family foundations overseen by his daughter Susie and sons Howard and Peter. The...
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Reform UK’s Ann Widdecombe murdered in targeted attack, police say
3 hours ago
by Reuters
British counterterrorism police said on Tuesday that former government minister Ann Widdecombe, who was found murdered at her home last week, was clearly targeted, adding that officers were still working to establish the motive. “It is clear that this was a targeted attack. We are still working to understand the extent of any planning or preparation and the motivation that sits behind that attack,” Assistant Commissioner Laurence Taylor, head of Britain’s counterterrorism policing, told...
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ICE halts vehicle stops for US immigration enforcement after deadly shootings
5 hours ago
by Reuters
US Immigration and Customs Enforcement (ICE) on Tuesday suspended vehicle stops related to immigration enforcement, two sources briefed on the matter said, after agents fatally shot two men six days apart during stops in Texas and Maine. The policy shift came one day after an ICE officer killed a driver in the coastal Maine town of Biddeford, about 24km (15 miles) south of Portland. The US Department of Homeland Security released a statement nearly 12 hours after the shooting asserting that the...
New York Times
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Trump Flip-Flops on Strait of Hormuz, Creating New Risks for Global Economy
4 hours ago
by Jenny Gross
US and Israeli Attack on Iran (2026), Ships and Shipping, Prices (Fares, Fees and Rates), Politics and Government, United States International Relations, Oil (Petroleum) and Gasoline, Maritime Accidents and Safety, Embargoes and Sanctions, International Maritime Organization, Iran, Strait of Hormuz, Persian Gulf, United Arab Emirates, United States, Trump, Donald J, Araghchi, AbbasThe president now wants Gulf nations to invest in the U.S. in exchange for safe passage. Shipping industry experts worry other nations will follow that lead.
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Senate Democrats Block Defense Bill Over War in Iran
3 hours ago
by Robert Jimison
United States Politics and Government, US and Israeli Attack on Iran (2026), Federal Budget (US), United States Defense and Military Forces, Defense Department, Senate, Senate Committee on Armed ServicesThe vote reflected how the political debate over the conflict in the Middle East has sapped bipartisan support for a normally popular measure.
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Trump Paid $2 Million by South Korean Company Facing Trade Investigation
6 hours ago
by Eric Lipton and John Yoon
United States Politics and Government, International Trade and World Market, Aluminum, Commerce Department, China, South Korea, Customs (Tariff), internal-open-access-from-nlThe payment illustrates the minefield Mr. Trump has created by maintaining personal financial ties with foreign businesses while he is in office.
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‘I Am Frustrated’: Emails Show Blanche’s Role in Trump’s Retribution Campaign
9 hours ago
by Glenn Thrush
live-detached, United States Politics and Government, Appointments and Executive Changes, Federal Criminal Case Against Trump (Documents Case), Presidential Election of 2020, Attorneys General, Blanche, Todd (Attorney), Trump, Donald J, Smith, Jack (Attorney), Biden, Joseph R Jr, Bondi, Pamela JThe cooperation of Todd Blanche will be a flashpoint in his confirmation hearing to be attorney general on Wednesday.
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Trump Administration Subpoenas Law Firms, Escalating Pressure Campaign
an hour ago
by Michael S. Schmidt and Devlin Barrett
United States Politics and Government, Legal Profession, Subpoenas, Ethics and Official Misconduct, Executive Orders and Memorandums, Suits and Litigation (Civil), Paul Weiss Rifkind Wharton & Garrison, Perkins Coie LLP, Justice Department, American Bar Assn, SIMPSON THACHER & BARTLETT, Wilmer Cutler Pickering Hale and Dorr LLP, Trump, Donald J, Epshteyn, BorisThe uneasy truce between the administration and the law firms it cut deals with last year has erupted into a pitched legal battle behind closed doors.