Under threat of contempt of court, Meta agrees to hand over child sex channel creator information
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New York Post
41 minutes ago
- New York Post
Dems' failed makeover, ‘In-N-Out' of Cali and other commentary
Conservative: Dems' Failed Makeover Democratic leaders hoped to 'reverse the party's hard-left drift and reconnect with working-class voters' after the election, but Democrats instead ran 'straight back into the arms of their radical base,' marvels Mike Howell at The Blaze. They 'poured money and institutional support into the No Kings protests,' for example — and these 'weren't fringe outbursts. In fact, they revealed the party's core.' The Oversight Project compiled the Instagram activity of 'one key protest organizer, a group called 50501,' and 'tracked who its social media managers followed, and what emerged was a clear pattern of associations: communist, neo-Marxist, anti-American, and foreign-aligned groups.' 'These protests didn't bubble up from the grassroots. They were built from the same radical networks that have long tried to destabilize the country from within.' Every morning, the NY POSTcast offers a deep dive into the headlines with the Post's signature mix of politics, business, pop culture, true crime and everything in between. Subscribe here! West Coast watch: 'In-N-Out' of Cali Fast-food burger chain In-N-Out's owner, Lynsi Snyder is leaving 'deep blue California for the friendlier environs of red state Tennessee,' where her company is building a second corporate headquarters, reports USA Today's Nicole Russell. 'Snyder said she's leaving the West Coast for the Mid-South for the sake of her family and her business,' just as 'hundreds of thousands of regular people' and businesses like Tesla, Chevron and Hewlett Packard have done, seeking 'better lives and better business opportunities in other states.' California has 'pushed tax rates and the cost of living to ridiculous extremes even as residents' quality of life has declined.' 'People and companies are not just fleeing California — in many cases, they are relocating to red states with a drastically different approach to politics and policy.' It's 'another indicator of California's decline.' Tech beat: The Push for Unbiased AI President Trump's new executive order banning the federal government from buying 'woke AI' gives tech executives 'powerful incentives' to develop 'unbiased AI models,' argues Christopher Rufo at City Journal. All AI has 'ideological' formulas — some, including concepts like critical race theory, transgenderism and DEI — 'baked' into their code. 'The question is not whether an AI system will be built upon a set of values; the question is which set of values the programmers will select.' Yet Trump's EO stipulates that the government will purchase only software that is ''truth-seeking' and committed to 'ideological neutrality.'' The president and his advisers 'have shifted the direction of artificial intelligence away from woke — and toward a vibrant American future.' Keep up with today's most important news Stay up on the very latest with Evening Update. Thanks for signing up! Enter your email address Please provide a valid email address. By clicking above you agree to the Terms of Use and Privacy Policy. Never miss a story. Check out more newsletters From the right: A Kamala Run Scares the Left 'California Democrats are rubbing their temples' at the thought of Kamala Harris running for governor, quips National Review's Noah Rothman. She'd be the heavy favorite, but the ex-veep might owe that 'less to her political acumen' than to 'California voters' bovine insouciance.' She'd have to defend Joe Biden and 'her role in the failed' coverup of his decline. And 'in the absence of any measurable charisma and 'notable risks' to the party overall, many Dems are attacking her. One state-level official even says she'd ruin the party's chance to 'win the House and hold on to three seats that we just flipped in 2024.' So 'Harris could get herself elected,' notes Rothman, 'while still serving as a net negative for her party.' Legal expert: Media's Russiagate Blinders Newly declassified material from the Russian collusion investigation reveals 'how high-ranking officials in the Obama Administration seeded' the false collusion narrative 'with the help of an eager, unquestioning press corps,' thunders Jonathan Turley at Fox News. Ex-CIA director John Brennan 'was the key figure insisting on the inclusion of the Steele dossier' in the Russian interference assessment. Ex-FBI director James Comey knew 'the Steele dossier was an unreliable political hit job,' yet he 'lied to a federal court to maintain' the investigation. 'The public is now learning about the real Russian conspiracy and its key players,' but 'the same media that pushed the false claims' are 'imposing a news blackout as they did with the Hunter Biden laptop.' — Compiled by The Post Editorial Board
Yahoo
2 hours ago
- Yahoo
Markets are about to kick off a huge week of earnings and macro data
The stock market is headed for its biggest week of the summer. Investors are watching Magnificent Seven earnings, the Fed meeting, and a barrage of macro data. Trump's August 1 deadline for tariff negotiations will cap off the week. This week is jam-packed with potential catalysts to move markets. Investors are looking at a heavy week of economic data and market-moving updates, with the Federal Reserve set to kick off its latest policy meeting, four out of the Magnificent Seven due to report earnings, and GDP and jobs data on deck. Here are the things investors can expect to look forward to: Mag 7 earnings More of the biggest tech giants in the US are set to report earnings for the last quarter, offering investors some insight on the state of the AI trade and whether companies are still willing to shell out for artificial intelligence chips. Here's who is on deck to report after the close: Wednesday: Meta, Microsoft. Thursday: Amazon, Apple Of the Mag 7 group, Alphabet and Tesla already reported earnings last week. Alphabet beat earnings and revenue estimates for the second quarter, but investors were concerned about the company's unexpected $10 billion increase in capital expenditures. Tesla, which has been mired in a long-running EV sales decline, saw its biggest quarterly revenue drop in at least a decade. Chip titan Nvidia will report at the end of August. Of the 34% of S&P 500 companies that have reported their results so far, 80% have beat earnings estimates, above the running average for the last 10 years, according to the latest update from FactSet. Data deluge The market is also gearing up for fresh inflation, jobs, and economic growth data coming out this week. Here's the timeline of what investors can expect: Wednesday Second-quarter GDP (second estimates). Economists expect the second estimate for second-quarter GDP to show that the economy expanded 2.3% year-over-year last quarter. Advanced estimates from the Commerce Department suggested that real GDP rose 2.8% year-over-year. ADP private payrolls. Economists expect the private sector to add 82,000 in July. That compares to the 33,000 jobs the private sector lost in June, according to last month's ADP report. Thursday Personal Consumption Expenditures inflation. The Fed's preferred inflation measure will get an update this week. Core PCE rose 2.7% in May, with June's figure also expected to clock in at 2.7%. Friday July Jobs report. Economists expect the US to add 102,000 jobs in July, down from the 147,000 payrolls added in June. Trump's tariff deadline Trump's August 1 deadline for tariff negotiations is coming up at the end of the week. Trump announced a fresh trade deal with the European Union on Sunday, which includes a 15% tariff on European imports and several stipulations for the EU to invest in the US and purchase more goods in key sectors. Yet, other countries are still negotiating. The US has only inked a handful of trade agreements with other countries, but Trump's team has said in recent weeks it expects more deals to follow. Some investors are hoping Trump will extend his deadline for tariffs, as he did earlier in the year, but Commerce Secretary Howard Lutnick said the deadline is set in stone with "no more grace periods" planned when speaking to Fox News on Sunday. Countries that haven't reached a trade agreement with the US by then will be subject to the tariff rate the president proposed on Liberation Day, or the tariff rate he proposed in a slew of letters sent to 23 countries that he also published on Truth Social. Some sector tariffs, like Trump's 50% tariff on copper imports, are also set to kick in on Friday. Fed meeting All eyes are on Fed Chair Jerome Powell on Wednesday as the central bank concludes its July meeting and announces its next interest rate decision to the public. Markets largely expect the central bank to keep rates steady as it eyes the impact of tariffs on inflation. Investors are pricing in a 98% chance the Fed will leave its benchmark rate unchanged this week, and a 44% chance the Fed will cut rates just once or twice by the end of the year, according to the CME FedWatch tool. "While the Federal Reserve is under pressure to cut interest rates, it's clear that this economy has been able to and should continue to be able to withstand the current level of interest rates. Stocks are up almost 10% so far this year, and we haven't seen a rate cut in eight months," Paul Stanley, the CIO of Granite Bay Wealth Management, wrote in a note. Trump has been highly critical of the Fed Chair, pushing for lower interest rates this year. But the president seemed to suggest he would accept whatever decision FOMC members came to when visiting the Fed last week. "Well, I'd love him to lower interest rates. Other than that, what can I tell you?" Trump said when speaking to reporters on Wednesday. "We would be helped if interest rates would come down, but we're going to see how the Board rules on that soon. I'd love to see them come down a lot," he later added. Read the original article on Business Insider 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
Bloomberg
3 hours ago
- Bloomberg
Meta Names Chief Scientist for New AI Unit
Meta continues its hiring push for its new Superintelligence unit and names Shengjia Zhao, who joined from OpenAI, as the group's new chief scientist. Bloomberg's Kurt Wagner discusses the unit's growth with Caroline Hyde and Ed Ludlow on 'Bloomberg Tech.' (Source: Bloomberg)
