U.S. Treasury Secretary Scott Bessent announced that regulators are nearing a significant shift in banking regulations by potentially easing the Supplemental Leverage Ratio (SLR). This move is aimed at increasing liquidity in the $30 trillion U.S. Treasury market, boosting bank lending, and reducing pressure on long-term interest rates. The SLR, implemented after the 2008 financial…
Newark Airport Reopens Key Runway After $121 Million Upgrade to Ease Delays and Boost Safety
Newark Liberty International Airport is set to reopen Runway 4L-22R on Monday after an extended closure that caused weeks of delays and travel disruptions. The closure was due to scheduled rehabilitation efforts to address significant wear and tear. Transportation Secretary Sean Duffy will lead a press conference to mark the runway’s return to service. The…
Wall Street Cools After May Rally as Tariff Fears and Trade Tensions Weigh on June Outlook
U.S. stock futures declined on Sunday evening, signaling a potentially cautious start to June after a strong performance in May. Futures tied to major indexes like the S&P 500, Nasdaq-100, and Dow Jones Industrial Average were down around 0.3%, with the Dow falling 108 points. Despite the upbeat finish to last month, investors appear to…
OPEC+ Boosts Oil Output Again as Market Eyes U.S. Shale Strain and Global Tensions
Over the weekend, OPEC+—a coalition of oil-producing nations including OPEC members and allies like Russia—announced a significant increase in oil production for July. The group will raise crude output by 411,000 barrels per day, marking the third monthly increase in a row following similar hikes in May and June. This strategic move is aimed at…
Steelworkers Rally Around Jobs as Trump Shifts on Nippon Deal and Union Fractures Deepen
Zoe, a 24-year-old student and self-declared non-Trump supporter, attended a steelworkers rally in West Mifflin, Pennsylvania, to support her partner’s job security. Though she has never voted for Trump and doesn’t plan to, she was among many concerned about the future of jobs after Japan’s Nippon Steel proposed a $15 billion acquisition of US Steel.…
How Web3 Could Disrupt Traditional Business Models
The digital is experiencing a seismic shift as Web3 technology emerges to challenge the very foundations of how businesses operate. Unlike the current Web2 ecosystem dominated by centralized platforms like Google, Facebook, and Amazon, Web3 introduces a decentralized internet architecture where users own and control their data. This paradigm shift represents more than just technological…
Stagflation Explained: Can It Happen Again?
Stagflation represents one of the most perplexing and feared economic phenomena in modern history. This rare condition combines three devastating elements: stagnant economic growth, rising unemployment, and persistent inflation, creating what economists call an economic nightmare. The term, coined by British politician Iain Macleod in the 1960s, gained widespread recognition during the turbulent 1970s when…
What Is the Phillips Curve and Is It Still Relevant?
The Phillips Curve represents one of economics’ most debated relationships, illustrating the inverse connection between inflation and unemployment that has shaped monetary policy for decades. Named after economist A.W. Phillips, who first observed this pattern in 1958 while studying wage inflation and unemployment data in the United Kingdom from 1861-1913, the curve suggests that policymakers…
NAACP Urges Shutdown of Musk’s Colossus Over Health Risks to South Memphis Residents
The NAACP has urged local regulators to stop Elon Musk’s supercomputer project, Colossus, from operating in South Memphis, citing violations of environmental regulations. In a letter sent Thursday, the organization addressed its concerns to Dr. Michelle Taylor, director of the Shelby County Health Department, and to officials at Memphis Light Gas and Water. The NAACP…
Trodelvy and Keytruda Combo Delivers Breakthrough Progression Delay in Advanced Triple-Negative Breast Cancer
Gilead Sciences’ drug Trodelvy, when used in combination with Merck’s immunotherapy Keytruda, significantly improved outcomes in patients with advanced triple-negative breast cancer (TNBC). Data from a large Phase 3 trial presented at the American Society of Clinical Oncology (ASCO) showed that this combination reduced the risk of disease progression by 35% compared to standard treatments.…