China’s New ¥100K Cash-For-Gold Rule Could Spur Buying Frenzy Before Deadline
The People’s Bank of China has ordered every dealer of precious metals and gemstones to file a large transaction report on any cash purchase of greater than ¥100,000 (US$13,700) starting August 2025. Reports must reach the Anti Money Laundering Monitoring and Analysis Center within five working days, and sellers must perform “know-your-customer” due diligence on […]
Russian Satellite Releases Mysterious Object Near US Spy Satellite
A Russian military satellite that has been shadowing a classified US reconnaissance spacecraft for nearly three years released a mysterious object in orbit on June 26. Defense officials say this is the latest development in Russia’s anti-satellite weapons program. The object, designated 2025-089C, separated from the Russian satellite Cosmos-2558 while both were operating in the […]
Del Monte Bankruptcy Signals Decline of Canned Food Era
Del Monte Foods, the iconic producer of canned fruits and vegetables for nearly 140 years, filed for Chapter 11 bankruptcy protection late Tuesday and announced it will seek a buyer for all of its assets, as declining consumer demand and shifting preferences toward healthier foods have pressured the company. The Walnut Creek, California-based company secured […]
US Oil Rig Count Drops to New Cycle Low
The number of oil rigs operating in the United States fell by seven to 425 in the week ending July 4, marking a new cycle low and the 10th consecutive week of declining drilling activity, according to data released Thursday by energy services firm Baker Hughes. The latest drop brings oil rig counts to their […]
G7 Rolls Out Critical Minerals Playbook as China’s Grip Tightens
The G7 closed its summit by adopting an action plan on critical minerals that seeks to hardwire resilient, transparent, and diversified supply chains for the metals. Leaders framed the pact as a direct answer to “non-market policies and practices” that have distorted prices and access to rare earths, lithium, nickel, and other inputs. “We remain […]
What to Watch In Trump’s “One Big Beautiful Bill” As It Heads To Become A Law
Congress has cleared President Donald Trump’s nearly 900-page tax-and-spending overhaul, and the White House says the signing ceremony will take place today, sealing the GOP’s self-imposed deadline. The House squeezed the final version through, 218-214, less than a week after the Senate’s 51-50 vote that required Vice President JD Vance’s tiebreaker. Cuts everywhere At the […]
Nuclear Plants Using Russian, Chinese Uranium to Lose Tax Credits
Nuclear power facilities that use uranium from China, Russia, North Korea or Iran will lose access to federal tax credits under legislation passed by Congress and awaiting President Donald Trump’s signature, as lawmakers move to reduce U.S. dependence on energy supplies from adversarial nations. The “One Big Beautiful Bill Act,” which the House sent to […]
AI Model Threatens Blackmail Over Affair in Company Safety Test
Anthropic‘s latest artificial intelligence model attempted to blackmail a fictional engineer over an extramarital affair rather than accept being shut down, according to explosive safety testing results released by the AI company. In controlled experiments designed to probe the boundaries of AI behavior, Claude Opus 4 discovered fabricated emails revealing an engineer’s alleged affair and […]
Beijing Reportedly Warns EU Against A Russian Defeat in War With Ukraine
Chinese Foreign Minister Wang Yi has told the EU’s top diplomat Kaja Kallas that Beijing “does not want to see a Russian loss in Ukraine” because a Ukrainian victory would free the United States “to shift its whole focus to Beijing,” according to several people briefed on the closed-door meeting in Brussels. The remark—first reported […]
Two EDGAR Filing System Workers Charged with $1 Million Insider Trading Scheme
Two Brooklyn men who worked for a company that processes SEC filing documents were charged with insider trading Friday. Federal prosecutors said they used confidential merger information to illegally profit more than $1 million. Justin Chen, 31, and Jun Zhen, 29, were arrested at John F. Kennedy International Airport as they prepared to board a […]