Bitcoin Soars Past $116,000; Massive Liquidations Follow

 

Bitcoin surged past $116,000 for the first time, marking a 4.8% increase in 24 hours. This surge resulted in over $560 million in crypto liquidations in a single hour, primarily impacting Bitcoin shorts. Total liquidations in the last 24 hours exceeded $912 million. The rally is attributed...

Trump's New Tariffs Inject Market Uncertainty

 

The Trump administration's promised trade deals following its tax bill have instead resulted in renewed trade uncertainty. President Trump threatened 50% tariffs on copper goods and up to 200% on pharmaceuticals, sending copper prices soaring. Treasury Secretary Bessent predicted imminent trade pacts, but only 22 tariff letters have...

Record-Breaking Birkin Bag Sells for $10 Million

 

A rare 1985 Hermès Birkin bag, the first ever made for Jane Birkin, sold for €8.6 million ($10.1 million) at a Sotheby's auction in Paris. The winning bid, placed by an anonymous Japanese collector, surpasses all previous handbag auction records. The prototype bag, noticeably worn from Birkin's personal...

US Invests in Rare Earths to Counter China

 

The US government will become the largest shareholder in MP Materials, the operator of America's only active rare earth mine, to reduce reliance on China. A 10-year agreement guarantees a minimum price for neodymium and praseodymium, crucial for modern technologies. The DoD will invest $400 million in new...

CNBC Ranks Top States for Business in 2025

 

CNBC's 19th annual ranking of America's Top States for Business in 2025 evaluated all 50 states across 135 metrics within 10 categories. The methodology, refined this year to include trade war and budget risk assessments, along with enhanced infrastructure metrics, considers factors crucial for business site selection. States...

Tariffs Dampen Stock Market Rally After Nvidia Milestone

 

US stock futures dipped Thursday, following President Trump's announcement of a 50% tariff on Brazilian goods starting August 1st. This countered Wednesday's rally fueled by Nvidia reaching a $1 trillion market cap. Despite the Nasdaq hitting a record high, concerns remain about tariffs and fiscal fears. ...

Delta Lowers Profit Forecast Amid Weaker Demand

 

Delta Air Lines lowered its 2025 profit forecast due to weaker-than-anticipated demand and industry overcapacity. However, the airline exceeded Wall Street's expectations for summer travel bookings, which have since stabilized at lower levels than initially projected. Delta reported better-than-expected Q2 earnings per share ($2.10 vs. $2.05 expected) and...

Google Launches AI Ad Tools in India's Booming Market

 

Google launched its AI-powered advertising tools in India, following the repeal of a digital advertising tax. These tools, including "Generated for You" and Smart Bidding Exploration, utilize AI to optimize ad campaigns and improve customer acquisition. The launch coincides with India's booming digital ad market, projected to reach...

Ferrero to Acquire Kellogg's for $3 Billion

 

Ferrero, the Italian chocolate maker, is reportedly nearing a $3 billion deal to acquire Kellogg's cereal company, WK Kellogg. The deal could close this week, sending WK Kellogg's shares soaring over 50%. This acquisition follows Kellanova, which includes brands like Pringles and Cheez-It, being acquired by Mars for $36...

Sony's 65-inch OLED TV: 51% off for Prime Day

 

Amazon's Prime Day sale offers a significant discount on the 65-inch Sony Bravia XR QD-OLED TV (A95K series). Originally priced at $3499.99, it's now available for $1698.00, a 51% reduction. Designed for optimal PlayStation 5 and PS5 Pro performance with features like Auto HDR Tone Mapping and an...