Federal court blocks Trump's tariffs
A federal court on Wednesday found President Donald Trump does not have the authority to impose his sweeping tariff strategy.
The US Court of International Trade's three-judge panel was unanimous in its ruling.
The White House did not immediately respond to a request for comment from Business Insider.
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Yahoo
20 minutes ago
- Yahoo
Democrats to square off in Wayne primary for chance to challenge mayor
WAYNE — A pair of Democrats will vie for the party nomination to run for mayor in one of the only contested primary elections in Passaic County on June 10. James Freeswick, 75, is facing Donald Pavlak Jr., 64, the Board of Education president and the candidate endorsed by party leaders. The winner will challenge Republican Mayor Christopher Vergano in a general election on Nov. 4. Vergano, 66, is finishing his fourth four-year term. He is uncontested in the GOP primary. The contested race pits two men who each possess a desire to serve the community, although Pavlak has enjoyed much more success at the polls. The retired police sergeant has never lost an election, while Freeswick has come up short in seven attempts. This marks his third bid for the mayor's office. But just to participate in the process, Freeswick said, is a token victory. Municipal government: Clifton City Council members last got a raise in 1962. Is it time for another? 'I believe in American democracy,' said Freeswick, whose foray into politics began when he was elected as the first Student Council president of Wayne Hills High School nearly 60 years ago. 'I don't take it personally when I lose an election,' he added. 'It's the way it is — the voters get to decide.' Freeswick may have a better shot to win this primary, he said, because Gov. Phil Murphy signed a new law on March 6 to overhaul the ballot design, obliterating a county-line system that was viewed as unfair to non-endorsed candidates. The controversial change was precipitated by a federal lawsuit filed last year by then-Rep. Andy Kim, a Democrat who has since succeeded Bob Menéndez as senator. 'It can't hurt,' Freeswick said of his more conspicuous ballot position. 'It certainly can't hurt — it's certainly more equitable.' Pavlak, meanwhile, said he is relying on his reputation as a straight shooter. He said he models his honest approach after his late father, who was the police chief here until retiring in September 1999. Story continues below photo gallery. 'I always prided myself on telling the truth,' said Pavlak, now in his seventh term on the school board. 'Whether you like it or don't like it, you're going to hear the truth out of my mouth.' Freeswick and Pavlak expressed similar attitudes toward promoting the local economy, repairing crumbling infrastructure and stabilizing the tax base. Their opinions varied significantly on affordable housing. Pavlak said he would explore ideas to satisfy the state mandate that do not involve private development. He stopped short of suggesting that he would recommend the formation of a public housing authority. 'The vision I have is to keep Wayne the community that it is and to not make it a vertical community,' said Pavlak, a 1979 graduate of DePaul Catholic High School. 'Every option should be on the table. We have used the same playbook for 20-plus years, and it's not working.' Freeswick attacked his opponent's plan to address the issue, calling it 'very vague.' He said he is opposed to public housing and that if elected, he would adopt the method used by the current administration — settling site by site with for-profit builders. 'That's the way municipalities in New Jersey have complied with their Mount Laurel quotas,' Freeswick said. 'That's the best path to follow.' Three at-large seats on the Township Council are also up for grabs, and the Democrat and Republican slates are uncontested in their respective primaries. Council members Jill Sasso and David Varano, both Republicans finishing their second terms, did not seek reelection. The county's only other contested primary is happening in Wanaque, where Borough Council President Edward Leonard and Councilman Dominick Cortellessa are being challenged by Republican Angela Demetriou. In-person early voting begins on June 3 at 10 a.m., a week before the date of the primaries. Philip DeVencentis is a reporter for For access to the most important news in your community, subscribe or activate your digital account. Email: devencentis@ This article originally appeared on Wayne NJ Democrats vie to challenge mayor in 2025 election
Yahoo
21 minutes ago
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Nvidia shares rise on strong Q1 earnings, despite export control headwinds
Tech giant Nvidia reported its first-quarter earnings on Wednesday, beating analysts' expectations, though it projected second-quarter sales below estimates amid tightening export controls to China that cover some of its AI chips. Nvidia, a leader in the artificial intelligence (AI) space, saw shares rise 3% in after-hours trading following the announcement. The earnings report showed that first-quarter net income was up 26% from a year ago at nearly $19 billion, with revenue rising to $44 billion, up 69% from last year. The company's revenue from data centers was $39 billion in the first quarter – up 10% from the previous quarter and 73% from last year. Nvidia is also building factories in the U.S. and working to produce AI supercomputers in the U.S. with its partners. "Our breakthrough Blackwell NVL72 AI supercomputer – a 'thinking machine' designed for reasoning – is now in full-scale production across system makers and cloud service providers," said Nvidia CEO Jensen Huang. Ai Chipmaker Nvidia To Invest Billions In Us Amid Trump Onshoring Push: Ceo "Global demand for Nvidia's AI infrastructure is incredibly strong. AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate," he continued. Read On The Fox Business App "Countries around the world are recognizing AI as essential infrastructure – just like electricity and the internet – and Nvidia stands at the center of this profound transformation," Huang added. Nvidia's earnings release noted that on April 9, the company was informed by the U.S. government that it will require a license to export its H20 products to China, which caused the company to incur a charge of several billion dollars in the quarter. How Nvidia Became The King Chipmaker, From A Denny's To $2.3T Market Cap The U.S. has, in recent years, imposed increasingly stringent export controls on China that apply to the most advanced AI chips, as a means of denying a geopolitical adversary access to cutting-edge technology in a competitive sector of the economy. "As a result of these new requirements, Nvidia incurred a $4.5 billion charge in the first quarter of fiscal 2026 associated with H20 excess inventory and purchase obligations as the demand for H20 diminished," the company said. "Sales of H20 products were $4.6 billion for the first quarter of fiscal 2026 prior to the new export licensing requirements. Nvidia was unable to ship an additional $2.5 billion of H20 revenue in the first quarter." Nvidia added it expects to miss $8 billion in sales in the second quarter due to the export restrictions. Reuters contributed to this article source: Nvidia shares rise on strong Q1 earnings, despite export control headwinds Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNN
22 minutes ago
- CNN
This fragrance company is trying to recreate the scent of extinct blooms
What do you get when you combine a team of scientists, a lab specializing in sequencing DNA and some extinct species? While the answer could be the plot of 'Jurassic Park,' these are actually the foundations of Future Society, a biotech fragrance company that has changed the landscape of scent by conjuring extinct flowers. Working together with the Harvard University Herbaria — home to over five million botanical specimens — Future Society has successfully sequenced the genetic codes of preserved plants, some of which date back more than 150 years. Six of them have already been made into perfumes, with signature notes ranging from the green to woody and floral. Take the orbexilum stipulatum, a herbaceous, flowering plant that grew on Rock Island in the shallowest part of the old Falls of the Ohio and is last known to have flowered in 1881. The plant is thought to have been wiped out after the eradication of buffalo that used to migrate through the area, meaning its seeds were no longer dispersed far and wide. Then in the 1920s, the entire area was flooded by dams, submerging all hope for it. We used this technology… to provide a glimpse into what these extinct flowers might have smelled like. Future Society founder and CEO Jasmina Aganovic 'We set out to make scents we've never smelled before and fragrances that were previously not possible to make,' said Jasmina Aganovic, founder and CEO of Future Society and its parent company Arcaea, in a video interview with CNN. The six fragrances, Aganovic explained, have been made possible by DNA sequencing. 'It's similar (to the) technology that was used on and 23andme whereby users spit into a tube, send it away and wait to find out about their genetics,' she said. 'We used this technology on preserved plant specimens from extinct flowers, searching for scent molecules which started to provide a glimpse into what these extinct flowers might have smelled like.' Aganovic didn't set out with a grand plan for a certain flower she was desperate to smell, but wanted to demonstrate how new biological advancements could be used in the beauty sector. In a 'not very romantic' fashion, the Future Society team looked at how many specimens existed in the Harvard University Herbaria, how many samples they could get and which of those would be reconstructible, because DNA degrades over time, she said. 'Ultimately we didn't know if this de-extincting exercise was going to work, so it was a numbers game to try it out.' On the process, Aganovic explained: 'The actual specimens are small little snippets brought back to the lab and they undergo a series of chemical reactions to degrade them and ensure that all that's left is the DNA.' Part of the data that first emerged was very raw, Aganovic said. 'It smelled like something went through a lawnmower, because you're getting everything — not just the fragrant petals, you're getting the plant's stem, the leaves, who knows what… You don't just get the genetics for the flower in the petal, right? It's all of the genetics.' In other words, recreating an extinct bloom's scent is not, Aganovic points out, an exact science. Not least because scent is highly complex; for example, a jasmine flower or a rose is composed of hundreds — if not thousands — of different scent molecules and chemical compounds. 'We can draw an analogy to our own genetics,' explained Aganovic. 'We carry two copies of genes, one from our biological father, one from our biological mother, but even though our body carries those genes, it doesn't express both. What the body chooses to express is exactly the nuance here.' When the extinct plant DNA was sequenced, many different genes for the scent molecules were exposed — but not all 'turned on' when they were put into yeast, a living organism, she said. 'That narrowed down the olfactory profile and gave more confidence around the direction that the physical flower went in.' While Aganovic and her team were left with this genetic evidence, there was still work to do to interpret it. 'Having the DNA in yeast doesn't brew this beautiful, fine fragrance, it just gives us the scent profile. The actual blending and composition relies on perfumers' existing notes and compounds from their own libraries,' Aganovic explained. Future Society does not use the DNA to regrow the extinct blooms. There are also scant — and subjective — records available. If no one living has experienced the flower first-hand, how does Future Society determine which flowers warrant a fragrance? 'This is what I really love about this work,' said Aganovic, who is a scientist by training but has been working in the beauty industry since 2014. 'It wasn't just down to the arrogance of science. While we had the data, we actually relied on different areas of expertise including perfumers and their knowledge of aroma chemicals and botany to look at the lineage of these plants, what living plants they were related to, where they were growing and what their environment was like… These elements all gave hints to how we might reconstruct the smell through a mixture of art and science.' Indeed, Future Society worked with perfumers from famed scent houses Givaudan (which Arcaea also counts as an investor, alongside Chanel and Olaplex) and Robertet to source a mixture of fragrance notes — synthetic, natural, and bioengineered — inspired by the scent molecules of the extinct flowers to create the blends. The resulting scents are, according to the brand's website, 'tributes to' what the plants could have smelled like. Future Society worked with three different perfumers for their recreated scents, each of whom viewed the data through their own unique lens. Olivia Jan, who worked on the Grassland Opera fragrance imagined the scent of the herbaceous orbexilum stipulatum flower. 'The Orbexilum stipulatum flower grew near a waterfall, so I tried to make something wet, green, and lush,' Jan told Harper's Bazaar USA in 2023. Perfumer Daniela Andrier, who formulated two fragrances for Future Society, wanted to tell the story of extinction from the perspective of the Earth. The Reclaimed Flame scent is a tribute to South Africa's extinct Leucadendron grandiflorum, which last bloomed in 1960, while Invisible Woods focuses on India's extinct Wendlandia angustifolia, which went extinct in 1917 due to drought. '(Andrier's) palette of ingredients relied on earthy, herbal ingredients because that was the feeling she wanted to evoke,' explained Aganovic. Meanwhile, Jérôme Epinette formulated three fragrances, including the bestselling scent Solar Canopy, which is based on the hibiscadelphus wilderianus, a hibiscus flower from Hawaii which died out in 1912 due to deforestation. Epinette was fascinated by time travel, and wanted the wearer to feel like they were there with the flower in the forest or on the mountain. 'From the DNA data, we knew there were some earthy tones in there, hence the fragrance has vetiver (the scent of which some liken to dry grass or wet woods), but there were also some juicier, fruitier things — elements of lychee, some magnolia, some sour notes too,' added Aganovic. While portions of the technology used in these projects are similar to the work being done by companies such as Colossal (who in April claimed to have brought the dire wolf back from extinction), Aganovic is keen to keep her distance. 'We are not fully resurrecting these flowers. We are a beauty company focused on self expression through personal scent, and I know that it's not sexy like, 'oh, we brought back the wolves,' but I think it's important to acknowledge,' she said. 'This de-extinction stuff (makes me) feel uneasy because… I definitely get whiffs of 'in the future, we will just de-extinct things,'' Aganovic continued. 'We can't be so arrogant to think we can just 'science' our way out of our problems, because sure, you know, technology means we can bring species back, but what we can't bring back is the relationship that certain populations had with that plant. Ultimately the human relationship with our environment is not just copy pasteable.'
