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Kevin Warsh takes over the Fed on Friday
Kevin Warsh will be sworn in as Federal Reserve chair at a White House ceremony on Friday, succeeding Jerome Powell amid persistent inflation and slim odds of a near-term rate cut.
Musk waited too long, jury says, ends $150B OpenAI suit
A federal jury unanimously rejected Elon Musk's lawsuit against OpenAI, Sam Altman, and Microsoft, finding all claims barred by the statute of limitations after less than two hours of deliberation.
Trump Slams Legacy Media Outlets For Reporting "Fake News" On The Iran Conflict
President Trump has renewed his attacks on The New York Times, The Wall Street Journal, and CNN over their coverage of the US military campaign against Iran, as the Strait of Hormuz remains a flashpoint for global energy trade.
Bitcoin Now Insures Strait of Hormuz Shipping
Iran has launched Hormuz Safe, a Bitcoin-settled maritime insurance platform for vessels crossing the Strait of Hormuz, raising sanctions concerns for global shippers and embedding $BTC into one of the world's most critical energy chokepoints.
Iran War Costs Global Firms $25B
The U.S.-Israeli war with Iran has already cost global companies at least $25 billion, with over 279 firms taking defensive financial measures as Strait of Hormuz disruptions drive soaring energy prices and supply chain breakdowns.
Trump And Xi Unveil 'Historic' China Deal
US President Trump and Chinese President Xi Jinping have unveiled a sweeping bilateral agreement covering trade, investment, agriculture, rare earths, and Boeing aircraft, with Xi set to visit Washington later this year.
The largest IPO in history is about to vacuum up Wall Street's liquidity
SpaceX is targeting a June 12 Nasdaq debut under ticker SPCX, raising ~$75B at a $1.75T valuation. With 8,285 $BTC on its balance sheet, the listing brings direct Bitcoin exposure to public markets while analysts warn of a liquidity drain for crypto.
The IEA told markets the oil shortage will outlast the war.
Brent crude hit $108 on Friday with an 8% weekly gain as Strait of Hormuz talks stalled. The IEA warns the global oil market could stay undersupplied through October even if a deal is struck soon.
Israel and Lebanon extend ceasefire for 45 days
The US State Department announced a 45-day extension of the Israel-Lebanon ceasefire after two days of talks in Washington, with political negotiations set to resume in June.
Anthropic just passed OpenAI on valuation
Anthropic has agreed terms on a $30 billion funding round at a $900 billion pre-money valuation, overtaking OpenAI's $852 billion mark as Claude Code drives rapid revenue growth.
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