Trump, Starmer Hail Close Ties During Meeting on Trade, Gaza
'Our relationship is unparalleled,' Trump told reporters Monday at his golf club in Turnberry, Scotland. 'When you're able to have a good trade deal, it keeps it even closer.'
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Geospace Technologies Acquires National Lab Developed Heartbeat Detector Technology
Advanced Analytics Detection Product Adds to the Company's Security Portfolio HOUSTON, August 04, 2025--(BUSINESS WIRE)--Geospace Technologies Corporation (NASDAQ: GEOS) today announced the acquisition of Heartbeat Detector®, a heartbeat detection security technology developed by the United States Department of Energy's Oak Ridge National Laboratory (ORNL). Effective July 31, 2025, Geospace acquired 100 percent of the outstanding shares from GeoVox Security, Inc., the company who first licensed and commercialized the technology from ORNL. Heartbeat Detector® uses a proprietary algorithm developed by ORNL researchers to reveal individuals attempting to hide in vehicles at security checkpoints by detecting a beating heart. Used in more than a dozen countries to address human trafficking and prison security, the Heartbeat Detector® is a small, portable device that uses proprietary sensors to rapidly identify people hidden in vehicles, providing a modern, user-friendly interface in as little as 10 seconds. The product, which relies on GS-ONE LF single-element geophones manufactured by Geospace, has been proven 99% effective by Oak Ridge, Sandia and Thunder Mountain national laboratories. Domestically, the Heartbeat Detector® is used extensively by departments of corrections and prison systems. Globally, the product has been leveraged for border crossings and prisons in Lithuania, Slovenia, Ukraine, Hong Kong, Czech Republic, Spain, France and Germany. The estimated market size for global prison facilities is 10,000 locations. There are more than 300 manned border checkpoint crossings in the United States and more than double that in Europe based on EU estimates. "Our sensing products have a history in border and perimeter security applications. With this acquisition, we are responding to market demand for an accurate, simple, portable technology to combat human trafficking, illegal border crossings, entrance and exit from critical facilities, and prison breaks. The Heartbeat Detector® will align well with our current perimeter security and surveillance offerings in the Intelligent Industrial business segment," said Rich Kelley, CEO of Geospace Technologies. "As part of our long-term growth plan, we have sought out immediately accretive acquisitions to our newly established business segments. We intend to offer the Heartbeat Detector® on a subscription basis to enable the customer base to streamline acquisition through lower upfront costs. This recurring revenue business model is becoming increasingly important in the strategic growth strategy of our company." "It is deeply gratifying to see success in this partnership to commercialize ORNL's heartbeat detection technology," said Jen Caldwell, director of technology transfer at Oak Ridge National Labs. "We strive to develop innovations of lasting market value that make significant contributions in a wide range of applications including safety and security. This heartbeat detection technology has more than achieved this objective, and we look forward to future successes with our partner Geospace, who shares our mission to tackle tough scientific challenges." "Having achieved this sale agreement with Geospace maintains the vision my father had when he licensed the heartbeat detection algorithm from ORNL more than 25 years ago," said Andrew White, GeoVox president and son of former Texas Governor Mark White. "This transition into the capable business model of Geospace will further my father's legacy as the company advances this safety and security technology to the next level." About Geospace TechnologiesGeospace Technologies is a global technology and instrumentation manufacturer specializing in vibration sensing and highly ruggedized products which serve energy, industrial, government and commercial customers worldwide. The Company's products blend engineering expertise with advanced analytic software to optimize energy exploration, enhance national and homeland security, empower water utility and property managers, and streamline electronic printing solutions. With more than four decades of operational excellence, the Company's more than 600 employees across the world are dedicated to engineering and technical quality. Geospace is traded on the U.S. NASDAQ stock exchange under the ticker symbol GEOS. For more information, visit View source version on Contacts Media Contact:Caroline Kempfckempf@ 713-986-8710 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
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Ali Velshi: The jobs numbers aren't ‘rigged.' Trump owns this economy.
This is an adapted excerpt from the Aug. 2 episode of 'Velshi.' On Friday, the Bureau of Labor Statistics released an alarming monthly employment report, exposing that the United States' job market is much more fragile than many had expected. Only 73,000 net new jobs — that's new jobs created, minus jobs lost — were added in July. But worse were the revisions to the two previous job reports. May's jobs report was revised from 144,000 jobs to only 19,000. June's 147,000 jobs were mostly a mirage, too; it turns out only 14,000 jobs were added that month. That's 258,000 fewer jobs than previously thought. The average for the last three months is 35,000, far fewer than the 150,000 or more needed for job growth to keep up with population growth in this country. Now, revisions to government statistics are normal in subsequent months. It's the nature of large numbers. They happen regularly, but they almost never show this dramatic a shift. It was a bad report, no doubt about it. It was particularly bad for a president who, in political terms, owns this job market and this economy, which has been roiled by the chaos of his tariffs and trade wars. But instead of addressing the numbers and the challenge they present, Donald Trump said they were fake and fired the head of the department that collects them. The president baselessly claimed the jobs numbers were 'rigged' and accused the fired commissioner of inflating numbers for the Biden administration and sabotaging them under his own administration. Trump baselessly claimed that jobs reports were overstated during the previous presidency to prop up Joe Biden and are now being underestimated to hurt Trump. The president has zeroed in on the Bureau of Labor Statistics commissioner, labeling her a 'Biden appointee' and ignoring the fact that she was confirmed in the Senate by a bipartisan vote of 86-8, with six senators not voting. Among the 86 yeas was now-Vice President JD Vance. This is becoming a common refrain for Trump. He has also accused Jerome Powell, chair of the Federal Reserve, of being a Biden appointee. But Trump is the one who elevated him to the position in 2017. Friday also marked the president's self-imposed, but often delayed, deadline for reaching trade deals with countries across the world. Back in April, Trump claimed he had already struck 200 deals, despite the fact that there aren't even 200 countries in the world. The number of deals before the Aug. 1 deadline was closer to eight, though you could arguably consider the European Union, which is a single trading bloc, as 27 countries. Deals were struck with the European Union, Indonesia, Japan, Pakistan, the Philippines, South Korea, the United Kingdom and Vietnam, and talks are ongoing with Mexico and China. Nowhere close to 200. That was just a lie. An executive order signed by Trump late Thursday outlined tariff rates for 69 countries, including several changes from the rates announced on 'Liberation Day' in April. Smaller countries like Lesotho and Guyana were originally hit with massive tariffs, simply because they are poor countries that sell more to America than they buy and as a result have large trade deficits with America, but those rates have since been cut. The day before, Trump also jacked up tariffs on Brazil to 50% for what he views as the political persecution of former Brazilian President Jair Bolsonaro, who is on trial for attempting a coup in 2022. Trump has called that trial a 'witch hunt.' Forget a deal with one of the U.S.' oldest and biggest trading partners, Canada. The White House is upping the ante on our neighbor to the north, announcing a 35% tariff on Canadian goods, up from 25%. That's on goods not included in the U.S.-Mexico-Canada trade agreement. Plus, on Wednesday, the Commerce Department said gross domestic product, or GDP, which is the largest measure of economic activity we have, increased at a 3% annual rate in the second quarter. Some journalists jumped on that exciting top-line number, one that seems far more impressive than the first quarter's GDP increase of just 0.5%. But if some of those journalists had taken about 45 seconds to look under that shiny hood, they'd have found a far less impressive rebound than it initially seemed. Here's why: That upward swing in GDP growth came from a massive and fully expected decline in imports, after a massive and fully expected increase in imports in the first quarter in anticipation of tariffs. Lots of money left our economy to bring goods in before the first tariff deadlines in April, so when imports sharply dropped, the smaller resulting trade deficit boosted the GDP growth figure. But that's not so much evidence of economic prosperity as it is the result of a math equation and how GDP is calculated. This article was originally published on Solve the daily Crossword
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UK and France to ratify 'one in, one out' migrant returns deal
LONDON (Reuters) -Britain said it would begin implementing a deal to return migrants who arrive on small boats to France within days after a treaty on the arrangement - a key part of British plans to cut illegal migration - is ratified on Tuesday. Prime Minister Keir Starmer and French President Emmanuel Macron announced the "one in, one out" pilot scheme on migrant returns last month. Under the new deal, France has agreed to accept the return of undocumented people arriving in Britain by small boats, in exchange for Britain agreeing to accept an equal number of legitimate asylum seekers with British family connections. A treaty on the scheme was signed last week but not previously announced ahead of Tuesday's ratification. Britain said the European Commission and EU member states had given the green light to the plan. Starmer, whose popularity has fallen since winning an election landslide last year, is facing pressure to stop small boat arrivals from the populist Reform UK party, led by Brexit campaigner Nigel Farage. Britain's interior ministry said it expected detentions to begin within days. "This is an important step towards undermining the business model of the organised crime gangs that are behind these crossings," British interior minister Yvette Cooper said. Under the agreement with France, government sources previously said they were looking at about 50 returns a week, or 2,600 a year, a fraction of the more than 35,000 arrivals reported last year, though the scheme could be scaled up. More than 25,000 people have arrived on small boats so far in 2025, and the government has targeted people smugglers with sanctions, clamped down on social media adverts and is working with delivery firms to tackle the illegal work that is often promised to migrants.
