Justice Department Sues California Over Glock Ban, Handgun Roster Authored by Michael Clements via The Epoch Times, The Justice Department (DOJ) on July 1 sued California over its ban on “machinegun convertible pistols” and its “handgun roster.” A Glock handgun and two magazines in a file photograph. Rich Pedroncelli/AP Photo The law bans the purchase of Glock pistols and guns with similar firing mechanisms, according to a DOJ […]

NatGas, Nuclear, Coal Keep Nation’s Largest Grid From Buckling Under Heat Dome Summary: NatGas, Nuclear, Coal Power Generation Keep PJM Alive  First Day of Heat Dome Across Mid-Atlantic; Last Through Weekend  “Set Your AC To 78F”: NYC Socialist Pleads With Residents As Fragile Grid Faces Blackout Risk GridStatus’ website shows the PJM Interconnection under severe peak-demand stress as heat-driven cooling loads surge across the […]

SAP Slows Hiring, Freezes Travel As AI Push Accelerates Not even a day after reports swirled that Microsoft was preparing to cut thousands of employees, and as the broader tech sector continues to hemorrhage white-collar workers replaced by chatbots, the latest AI-related job-displacement news is coming from Europe’s largest software company. Bloomberg reports that German enterprise software giant SAP, best known for software that […]

FDA Allows Label Saying Zyn Nicotine Pouches Less Harmful Than Cigarettes Authored by Zachary Stieber via The Epoch Times, The Food and Drug Administration is letting Philip Morris International market its Zyn nicotine pouches as being safer than cigarettes. Zyn nicotine cases and pouches on a table in New York City on Jan. 29, 2024. Michael M. Santiago/Getty Images The FDA said on June 30 that the pouches can now feature the […]

Blue Owl Gates Investors Again After Top BDCs Hit With Massive 38%, 19% Redemption Requests After a catastrophic Q1 for private credit BDCs, Q2 is proceeding just as many had expected: just as bad. After alternative asset manager titans such as Apollo, Blackrock, Blackstone and Cliffwater all gated their investors for a second straight quarter following a surge in redemption requests that easily surpassed what took place in Q1, […]

Judge Blocks USPS Ballot Rule Tied To Trump’s Election Integrity Order Authored by Tom Ozimek via The Epoch Times, A federal judge on Wednesday blocked the U.S. Postal Service from implementing a Trump administration proposal to boost election integrity by enhancing ballot tracking and verification, finding it conflicted with a 2021 settlement requiring the agency to prioritize the timely delivery of election mail. U.S. District […]

Vance Explains How US Will Use Iran MoU To Replenish Global Oil Supply Authored by Dave DeCamp via AntiWar.com, Vice President JD Vance said in an interview on “The Michael Knowles Show” published Tuesday that the US would use the Memorandum of Understanding with Iran to “refill” global oil supplies and stockpiles and to prepare for more potential military action against the Islamic Republic. “I think what the president has told […]

Sin(a)tra By Michael Every of Rabobank Sin(a)tra Let’s be Frank: the central banker pow-wow at Sintra had a touch of Sinatra. Fed Chair Warsh belted out “I’ll do it MYYYYYY way,” and everyone else chimed in that they’d had a few regrets about how they’ve run monetary policy and were coincidentally now mentioning them. Markets swooned when Warsh stated the case for Fed independence and that anyone expecting tolerance […]

FDA Staffers Oppose Proposed Clearance Of Peptides Authored by Zachary Stieber via The Epoch Times, Food and Drug Administration staffers said in newly released documents that they do not support letting compound pharmacies manufacture seven popular peptides. The Food and Drug Administration in White Oak, Md., on June 5, 2023. Madalina Vasiliu/The Epoch Times FDA personnel said in documents posted online on June 29 that there are […]

Minnesota Gov Walz Pardons Convicted Child-Molester, Blocking Deportation A Minnesota pardon board that includes Gov Tim Walz among its three members has issued a full pardon to a convicted Laotian child-molester, torpedoing Homeland Security’s effort to deport him. The 42-year-old convict, Tou Lue Vang, submitted a letter to the board saying he regretted what he did — and just like that, his criminal record is now clean as a […]

What Did He Just Say? Authored by Steve Watson via Modernity News, In a parliamentary clash exposing deep failures in the justice system, Conservative MP Katie Lam confronted the Government over whether grooming gang perpetrators would serve their already lenient prison terms in full. The minister’s reply has sparked widespread fury, highlighting a complacency that victims and the public find utterly unacceptable. When Lam […]

Europe Capitulates, Sees Iranian Hormuz Fee Collection As ‘Inevitable’  Europe capitulates at a moment Washington and Tehran (and possibly Oman) continue to be directly at odds over how future shipping traffic through the Strait of Hormuz energy chokepoint will be administered. Bloomberg reports Thursday, “Some leading European powers now accept that ships transiting the vital Strait of Hormuz will have to pay fees to Iran and […]

America Bets $50 Billion On Coal And Gas Power, More Than China, As Electricity Demand Soars By Irina Slav of OilPrice.com US companies are set to spend some $50 billion on power generation from coal and natural gas this year, the International Energy Agency has said, as quoted by the Financial Times. This would be the first time in decades that US spending on coal and gas generation would be higher than what China is investing in […]

Vegas Cops Disrupt Alleged Casino Terror Plot By Trans Gunman As Pattern Of Left-Wing Violence Raises Alarms The nihilistic accelerationism spreading through the revolutionary left is becoming an increasingly visible security threat, as years of radical rhetoric and political demonization by Democrats and their aligned, billionaire-funded NGOs bleed into real-world violence. The pattern is becoming increasingly troubling and harder […]

Yen Surges As Jittery Traders Expect Imminent Intervention After Japan Reveals New Strategy To Wipe Out Shorts After plunging to a fresh 40 year low overnight, the yen strengthened sharply against the dollar amid rising speculation that the currency’s continued weakness may prompt a fresh round of intervention by Japan. The yen then surged again after the June US jobs report showed a much weaker picture than expected. But let’s […]

Core Durable Goods Orders Soar Most In 4 Years US durable goods orders plummeted 4.5% MoM in May (as expected), dragging orders down 4.3% YoY – the worst annual decline since Nov 2024… Source: Bloomberg However, ex-transports, orders rose 1.4% MoM – up for the 14th straight month – with orders soaring over 10% YoY, the strongest annual surge since May 2022… Adding more confusion, US factory orders fell 1.3% MoM in May […]

US Adds Only 57K Jobs, Missing Estimates, As Unemployment Rate Slides On Plunge In Workers In our jobs preview post we quoted Goldman Delta One head, Rich Privorotsky, who said that “equities marginally want something weaker than consensus: with no forward guidance, hot NFP means hikes in play, which is unfriendly for pockets of equity risk.” Well, they got it because moments ago the BLS reported that in June the US added just 57K […]

‘Something Has Gone Completely Wrong’: Palantir’s Alex Karp Goes Ballistic On OpenAI, Anthropic On Wednesday, Palantir CEO Alex Karp delivered a blistering critique of frontier AI labs, accusing them of having an “effing insane” business model that leaves enterprises paying escalating token costs for limited value while risking their proprietary data and intellectual property. He said that top AI labs such as Anthropic and OpenAI […]

Buried On The 4th Of July: Mediators Pledge Quiet Between US, Iran To Allow For Ayatollah Khamenei’s Funeral President Trump by mid-week told reporters that the “denuclearization of Iran is moving along well” and that “very good meetings” are being held in Doha – even though no direct talks have taken place, but only an exchange of messages via mediators. On Wednesday US officials told regional media that no frozen Iranian funds […]

Tesla Reports 480,126 Q2 Deliveries, Crushing Estimates Tesla delivered a much stronger-than-expected second quarter, reporting 480,126 vehicle deliveries, well ahead of Wall Street forecasts of roughly 406,600. The company also produced 451,758 vehicles during the period, signaling a meaningful improvement after a slow start to the year, according to CNBC. Shares were volatile on the news and have settled near unchanged into the […]