Scaramucci Says Crypto Is on the Cusp of Becoming an Asset Class
Scaramucci Says Crypto Is on the Cusp of Becoming an Asset Class
“Three trillion is like a mag 7 stock, 20 trillion is an asset class,” said Anthony Scaramucci, founder and CEO of SkyBridge Capital. “So if you tell me that bitcoin can get to $500,000, people will be writing stories that bitcoin is an asset class.”
That provocative benchmark from Scaramucci set the tone for a spirited conversation at CoinDesk’s Consensus 2025 conference, where he joined Jonathan Steinberg, CEO of WisdomTree; Pasqual St-Jean, President and CEO of 3iQ; and Andy Baehr of CoinDesk Indices to discuss whether crypto, particularly bitcoin BTC, has finally become a bona fide asset class.
While panelists largely agreed that crypto is getting there, they emphasized that the path to institutional validation requires more than just price appreciation.
Pasqual St-Jean argued that bitcoin has already cleared many of the hurdles that traditional assets must meet to be deemed investable by institutions like gold. “It has hedging mechanisms. It has different wrappers. It’s a little bit easier to understand. It’s a digital gold for a digital age,” he added.
This accessibility, he noted, stands in contrast to other types of crypto assets, such as governance and utility tokens, which remain more difficult for institutional allocators to grasp.”When we talk about governance tokens, it’s a little harder for institutions to wrap their minds around,” he said. “What exactly am I owning?”
The panelists pointed to the introduction of spot bitcoin ETFs — especially in the U.S. — as a turning point in crypto’s journey toward institutional legitimacy.
Jonathan Steinberg, CEO of WisdomTree highlighted the irony in how former Securities and Exchange Commission (SEC) Chair Gary Gensler’s enforcement-heavy approach inadvertently laid the groundwork for a highly competitive and mature market.
“Gensler created just what he didn’t want in the US,” Steinberg said. “There are more bitcoin ETPs than S&P 500 ETFs. He created a tremendously competitive and mature foundation for bitcoin, which I think is deserved for the asset class.”
St-Jean agreed, calling the ETF wrapper a “game changer,” particularly for bitcoin. It allowed legal and compliance departments to step back and treat it as a regular investment decision, opening the door to more widespread adoption among institutions, he said.
Despite the strides made, Andy Baehr warned that bitcoin’s dominance may be holding back the broader crypto ecosystem.
“The crypto asset class is a bit hamstrung by the fact that there’s this giant singular thing standing there that people have to understand first,” Baehr said. “Yet you miss out on real blockchain technology, Layer 1s, infrastructure, DeFi—if you don’t dig deeper.”
Story Continues
He likened the current moment to 1999, when online brokerages made tech stocks accessible to a wider investor base. Like then, liquidity vehicles such as ETFs could help create allocation engines for the crypto space, turning short-term trading into long-term investing.
Still, the panelists were realistic about the growing pains. Steinberg pointed out that many institutions are still early in their due diligence. While some hedge funds have made the leap, most large allocators are still getting educated.
Panelists emphasized that the final push toward broad asset-class acceptance will likely depend on continued infrastructure development, regulatory clarity, and institutional products.
“We had to educate them that the regulator doesn’t have the right to pick which asset class is investable if the infrastructure problem is solved,” St-Jean said.
Looking forward, he argued that staking products, Layer 1 blockchain investments, and more diversified index products will be critical. “You just own HTTP,” he said, drawing a parallel to early internet protocols. “Bitcoin they understand, now they’re starting to understand Layer 1s.”
Scaramucci, for his part, remains bullish. “We may not actually be bullish enough,” he said, citing the explosion of capital in the space, the wave of copycat strategies following Strategy’s lead, and Wall Street’s “selling machine” now pushing bitcoin and crypto ETFs.
He added that while political risks remain, particularly with crypto becoming a hot-button issue in U.S. politics, the incentives are lining up for bipartisan support. “If you get bitcoin to $500,000, people won’t just say it’s an asset class—they’ll treat it like one,” he said.
Whether or not that price target is reached, the panel agreed: the foundation is there, the wrappers are in place, and institutions are finally showing up. Crypto’s transformation from curiosity to asset class is no longer a question of “if”—just “when.”
Source link
#Scaramucci #Crypto #Cusp #Asset #Class
Pelican News
View the full article at [Hidden Content]
RFK Jr. Dodges Vaccine Questions, Says Not to Take Medical Advice From Him – The New York Times
RFK Jr. Dodges Vaccine Questions, Says Not to Take Medical Advice From Him – The New York Times
RFK Jr. Dodges Vaccine Questions, Says Not to Take Medical Advice From Him The New York TimesBen & Jerry’s co-founder arrested protesting Senate hearing: ‘RFK kills people with hate’ Fox NewsRFK Jr.: ‘I don’t think people should be taking medical advice from me’ Central New Jersey NewsLawmakers press Kennedy on mass cuts, canceled medical research CNNProtesters, vaccines and budget cuts: 5 takeaways from RFK’s testimony before Congress USA Today
Source link
#RFK #Dodges #Vaccine #Questions #Medical #Advice #York #Times
Pelican News
View the full article at [Hidden Content]
Jaguar Land Rover says it has no plans to build cars in the US
Jaguar Land Rover says it has no plans to build cars in the US
***-based carmaker Jaguar Land Rover has said it does not intend to produce vehicles in the US, as President Donald Trump’s tariffs impact the motor industry.
“Following articles based on comments made by the JLR CEO in the full year earnings media call, we can confirm we have no plans to build cars in the US,” a spokesperson told the BBC.
Jaguar, which has no factories in the US, paused shipments to the country in April after Trump’s first tariff announcements, before resuming exports to the country this month.
This week, the firm joined a growing list of companies to hold back on giving profit forecasts, as Trump’s unpredictable trade policies continue to impact businesses around the world.
On Trump’s self-declared ‘Liberation Day’ in early April he announced that the *** would be subject to 10% tariffs on all the the goods it exports to the US. More stringent measures were later applied to cars, steel and aluminium.
But last week, the US agreed to allow some steel and aluminium into the country tariff-free, and reduced the levies on a set number of British cars.
A blanket 10% tariffs on imports from countries around the world still applies to most *** goods entering the US.
Rival luxury carmaker Mercedes-Benz, and Chrysler-owner Stellantis have also held back on giving forecasts, while Ford said the US levies will cost it about $1.5bn (£1.13bn) this year.
Outside the motor industry, top executives at well-known firms have warned recently about the impact that tariffs are having on their companies and the wider economy.
Last month, technology giant Intel, footwear maker Skechers and consumer goods firm Procter & Gamble either cut their profit forecasts or withdrew them, citing economic uncertainty.
Meanwhile, sportswear giant Adidas warned import taxes imposed by Trump will lead to higher prices in the US for popular trainers including the Gazelle and Samba.
This month, Barbie maker Mattel said it will put up the prices of some of its toys in the US as tariffs increase its costs.
Source link
#Jaguar #Land #Rover #plans #build #cars
Pelican News
View the full article at [Hidden Content]
‘Outrageous’: Shire of Coolgardie more than doubles mining rates to dig itself out of budget ****** hole
‘Outrageous’: Shire of Coolgardie more than doubles mining rates to dig itself out of budget ****** hole
A scandal-plagued Goldfields council facing financial ruin is about to jack up its annual mining rates by 119 per cent in a gut punch to local mineral explorers.
Source link
#Outrageous #Shire #Coolgardie #doubles #mining #rates #dig #budget #****** #hole
Pelican News
View the full article at [Hidden Content]
Smartmatic alleges Fox News destroyed text messages in 2020 election case as Fox wins new documents
Smartmatic alleges Fox News destroyed text messages in 2020 election case as Fox wins new documents
The multibillion dollar defamation lawsuit brought by voting machine company Smartmatic against Fox News lurched forward this week with new allegations filed by Smartmatic that Fox executives destroyed text messages — and a new ruling Fox News won that will allow them access to new documents that could help their defense.
Smartmatic, in a court filing Wednesday, alleged that Fox News and Fox Corp “orchestrated the destruction of text messages across all levels of their corporate hierarchy” — a filing that comes as Fox continues to fight the defamation lawsuit brought by the voting machine company over the network’s 2020 election claims.
Smartmatic claims those who “deleted their texts” include founder Rupert Mudoch and chairman Lachlan Murdoch.
MORE: Fox News, Smartmatic file dueling motions for summary judgment in defamation case
“The destruction was not isolated or accidental,” the filing, which was largely redacted, claims. “It was extensive and willful.”
The claims were revealed in an introduction to the motion that was publicly filed with the court, though the rest of the motion remained redacted due to a 2022 “confidentially stipulation” between the parties.
Smartmatic sued Fox and other defendants in 2021, claiming they “knowingly and intentionally” lied about Smartmatic in the wake of the 2020 election regarding claims of voting machine fraud, causing Smartmatic to lose business.
Fox has said they were covering newsworthy allegations made by President Donald Trump and others, and has accused Smartmatic of looking to profit off a lawsuit.
PHOTO: In this April 12, 2023, file photo, the Fox News logo is displayed outside Fox News Headquarters in New York. (Yuki Iwamura/AP, FILE)
In its filing, Smartmatic alleges that “Fox custodians” deleted their text messages from November and December 2020, creating “an evidentiary void.”
“Fox has eliminated contemporaneous texts that would have revealed further evidence of what Fox executives knew about the falsity of their broadcasts and why Fox continued airing them anyway,” the filing states. “While it championed election fraud on air, behind the scenes Fox ensured that many of its executives’ incriminating communications would never see daylight.”
As such, Smartmatic is asking that the jury in the case “be charged with an adverse inference instruction” — a legal instruction given by a judge to a jury allowing them to assume that the unavailable evidence was unfavorable to the party that was unable to produce it.
The filing from Smartmatic comes one day after a New York appeals judge ruled that Fox News can gain access to documents related to an ongoing Department of Justice investigation into three Smartmatic executives.
In a statement, Fox said Wednesday’s motion by Smartmatic was “a desperate attempt to distract” from the winning ruling Fox News secured Tuesday in the case.
“Smartmatic weakly attempts to resurrect stale, baseless discovery issues that actually were disclosed by FOX and resolved two years ago,” the statement said. “These issues have no bearing on the merits of Smartmatic’s case, which has fallen apart at every turn.”
MORE: After Dominion settlement, Fox News ‘ready to defend’ against lawsuit from 2nd voting machine company, Smartmatic
The statement went on to say that Fox would be filing its own motion shortly “that outlines Smartmatic’s actual massive failure to preserve evidence, including direct written instructions by Smartmatic’s CEO to delete relevant text messages on the eve of filing this lawsuit.”
Three current and former executives of Smartmatic were charged in a criminal indictment last year accusing them of a “bribery and money laundering scheme” in order to obtain contracts in the Philippines, according to an indictment, which does not name Smartmatic by name.
A judge ruled that the documents were “plainly relevant” to Smartmatic’s profits, which Smartmatic has alleged plunged due to the election-related statements made by Fox. But Fox News has argued there were other factors for Smartmatic’s alleged lost profits, such as the criminal indictment.
In a statement responding to the ruling, Smartmatic attorneys claimed they had “already agreed” to the discovery.
“Fox trying to blame anyone other than itself for Smartmatic’s injuries is just more lies from Fox,” said Smartmatic’s legal counsel Erik Connolly. “The writing is on the wall. Lies have consequences.”
Fox representatives praised the ruling, saying in a statement they were “pleased” with the ruling and that the “factual evidence shows that Smartmatic’s business and reputation were badly suffering long before any claims by President Trump’s lawyers on FOX News and that Smartmatic grossly inflated its damage claims to generate headlines and chill free speech.”
Materials that Smartmatic must disclose include “all internal documents concerning discussions or analysis of the impact of the indictment on the company” as well as “all communications received from any actual or potential customer about the indictment.”
In a statement at the time, Smartmatic said, “No voter fraud has been alleged and Smartmatic is not indicted. Voters worldwide must be assured that the elections they participate in are conducted with the utmost integrity and transparency. These are the values that Smartmatic lives by.”
Smartmatic alleges Fox News destroyed text messages in 2020 election case as Fox wins new documents originally appeared on abcnews.go.com
Source link
#Smartmatic #alleges #Fox #News #destroyed #text #messages #election #case #Fox #wins #documents
Pelican News
View the full article at [Hidden Content]
Cassie testifies on Kid Cudi relationship and alleged violence during Diddy trial – The Washington Post
Cassie testifies on Kid Cudi relationship and alleged violence during Diddy trial – The Washington Post
Cassie testifies on Kid Cudi relationship and alleged violence during Diddy trial The Washington PostSean ‘Diddy’ Combs trial live updates: Cassie Ventura continues testimony in federal sex trafficking case YahooCassie Ventura reveals how much Diddy paid to settle her 2023 lawsuit USA TodaySean ‘Diddy’ Combs Trial Live Updates: Cassie Testifies About Hotel Assault in 2016 The New York TimesTakeaways from Cassie Ventura’s 2nd day of testimony in Sean ‘Diddy’ Combs trial CNN
Source link
#Cassie #testifies #Kid #Cudi #relationship #alleged #violence #Diddy #trial #Washington #Post
Pelican News
View the full article at [Hidden Content]
Tedesco 'not expecting much' as Origin selection looms
Tedesco 'not expecting much' as Origin selection looms
James Tedesco has catapulted into State of Origin calculations this year, but the Sydney Roosters captain is not expecting a phone call from coach Laurie Daley.
Source link
#Tedesco #039not #expecting #much039 #Origin #selection #looms
Pelican News
View the full article at [Hidden Content]
Retired Camarillo High School wrestling coach arrested for alleged assault
Retired Camarillo High School wrestling coach arrested for alleged assault
A retired hall of fame wrestling coach and Camarillo High School teacher was arrested May 13 after an investigation into allegations of assault of a student over several years while he was working at the school, authorities said.
Ronald Wilson, 72, was arrested at his home in Timnath, Colorado by police officers and deputies from the Ventura County and Larimer County sheriff’s offices after executing a search warrant, according to the Ventura County Sheriff’s Office.
Wilson faces charges for lewd acts upon a child and unlawful ******* intercourse among other allegations, the sheriff’s office said. The retired teacher had not been booked into jail as of May 14.
Former Camarillo High School teacher and wrestling coach Ronald Wilson
In March, the sheriff’s major crimes ******* assault unit launched an investigation after the Santa Barbara Police Department informed them of an investigation into a ******* assault that occurred in Camarillo.
Wilson is believed to have initiated a relationship with a female juvenile spanning several years while he was employed at the school, investigators allege. The student was assaulted on and off campus, sheriff’s officials said.
Wilson worked at Oxnard Union High School District for over 40 years and was head wrestling coach for Camarillo High nearly 30 years, until his retirement in 2020. He was inducted into the California Hall of Fame in October 2022.
Prior to his time in Camarillo, he worked at Oxnard High School for 13 years. It was not immediately clear when the alleged assaults took place.
“The Oxnard Union High School District is aware of the recent arrest of a former employee in connection with allegations of ******* misconduct involving a student over a decade ago,” district officials said in a news release. “We are devastated by these allegations and condemn this behavior.”
The district statement also said the safety and well-being of our students is its highest priority.
Sheriff’s officials said there is a possibility of other victims. Anyone who could be a victim or has information about the case, is asked to call 805-384-4732.
Staff writer Isaiah Murtaugh contributed to this report.
Ernesto Centeno Araujo covers breaking news for the Ventura County Star. He can be reached at *****@*****.tld.
This article originally appeared on Ventura County Star: Retired Camarillo High wrestling coach arrested for alleged assault
Source link
#Retired #Camarillo #High #School #wrestling #coach #arrested #alleged #assault
Pelican News
View the full article at [Hidden Content]
New York Giants release their 17-game schedule: Takeaways, key stretch and predictions – ESPN
New York Giants release their 17-game schedule: Takeaways, key stretch and predictions – ESPN
New York Giants release their 17-game schedule: Takeaways, key stretch and predictions ESPNJudging five possible overreactions to the full NFL schedule: The 49ers have it easy, right? ESPN2025 NFL schedule release live updates: Thanksgiving, Christmas, international games and more as full schedule is announced Yahoo SportsRelease of 2025 NFL Schedule powered by AWS highlighted by NFL Network’s ‘Schedule Release ’25’ NFL.comMonday Night Football: Five doubleheaders headline the slate NBC Sports
Source link
#York #Giants #release #17game #schedule #Takeaways #key #stretch #predictions #ESPN
Pelican News
View the full article at [Hidden Content]
*** to allow foreign states 15% stake in newspapers
*** to allow foreign states 15% stake in newspapers
Foreign states will be allowed to own up to 15% of British newspapers and news magazines under new laws.
The move follows a takeover bid of the Telegraph and the Spectator by RedBird IMI last year, backed by the Abu Dhabi ruling family, which led the then Tory government to ban foreign-state ownership of *** papers, after an outcry from parliamentarians.
But under a law change announced on Thursday, State Owned Investors (SOIs) – including sovereign wealth funds, public pension or social security schemes – will be able to take a stake in *** newspapers.
Culture Secretary Lisa Nandy said the changes would protect “media plurality” while helping cash-strapped publishers “raise vital funding”.
Following a consultation on the ban, Labour said that many newspaper groups believed a complete ban was too restrictive for securing financing.
Ministers set the threshold for SOIs at 15% of shares or voting rights in a newspaper or news magazine as it was “the most effective, simple and proportionate approach”.
The ban was introduced after Lloyds Bank seized the Telegraph and its sister magazine the Spectator from the Barclay family in June 2023 in order to claw back £1bn of debts from its former owners.
Sheikh Mansour bin Zayed Al Nahyan, best known in the *** for his ownership of Manchester City football club, threw his considerable financial heft behind a £600m bid by US-firm RedBird to take over the titles.
But panic over foreign control of two major *** newspapers led Parliament to enact the Digital Markets, Competition and Consumers Act 2024 – which prevents foreign states from acquiring ownership, control or influence over *** newspapers and news magazines.
The Spectator was then sold last year for £100m to Sir Paul Marshall, the hedge-fund billionaire, who has installed Lord Gove, the former cabinet minister, as its editor.
In a statement, Nandy said: “Britain’s free and independent press is a national asset like no other and it is right that we have strong measures in place to allow scrutiny of *** takeovers that might go against the public interest.
“We are fully upholding the need to safeguard our news media from foreign state control whilst recognising that news organisations must be able to raise vital funding.
“We are taking a proportionate, balanced approach to a threshold for low-risk investments that will remove a potential chilling effect on press sustainability.”
Source link
#foreign #states #stake #newspapers
Pelican News
View the full article at [Hidden Content]
South African Test players will have to leave IPL early to prepare for World Test Championship final against Australia
South African Test players will have to leave IPL early to prepare for World Test Championship final against Australia
South African cricket bosses are putting the World Test Championship final ahead of the delayed IPL and will demand Test players exit India on May 25 to prepare for the clash with Australia.
*********** Test captain Pat Cummins is among those headed back to India after the IPL was stalled due to the now de-escalated conflict between India and Pakistan that led to many international players fleeing both countries.
The final is now set for June 3, and Cummins’ Sunrisers Hyderabad can’t make the playoffs but others can, including Mitchell Starc and the Delhi Capitals as well as Josh Hazlewood’s Royal Challengers, although he’s unlikely to continue due to a shoulder issue.
But while Cummins is going to play out as long as Sunrisers last, any Proteas needed to play in the WTC final at Lord’s, which begins on June 11, will be ordered to stick to their original departure timeline and exit by May 26.
“It is an individual decision, obviously, to return or to play or continue,” South Africa’s director of cricket Enoch Nkwe said.
“But one thing we’ve made clear, and we are finalising that with IPL and BCCI, is sticking to our original plan when it comes to the WTC preparations, obviously with May 26 being the latest for the Test guys to come back.”
South Africa have eight players from the WTC final squad playing in the IPL, including Kagiso Rabada, Lungi Ngidi, Aiden Markram and Marco Jansen, and most of their players remain firmly in finals contention.
Cummins, Starc, Travis Head, Josh Inglis and Hazlewood are the five members of Australia’s Test squad featuring in the IPL and high performance boss Ben Oliver said this week that returning to India would not impact their WTC preparations.
“I think each player will have experienced it differently,” Oliver said.
“No doubt it was an extreme situation, and we feel it’s really appropriate to support their individual experience and their individual decision as they work through that over the coming days.
“We don’t expect any material impact on the preparation for the World Test Championship (final).
“We’ve got players obviously preparing here in Australia, we’ve got players preparing around the world before they then assemble in the ***. But we’ll work through that individually with players over the coming days.”
Batting dynamo Jake Fraser-McGurk has opted not to return for the rest of the tournament, citing “personal reasons”.
Source link
#South #African #Test #players #leave #IPL #early #prepare #World #Test #Championship #final #Australia
Pelican News
View the full article at [Hidden Content]
Here is how California Gov. Gavin Newsom plans to address a $12 billion budget shortfall
Here is how California Gov. Gavin Newsom plans to address a $12 billion budget shortfall
SACRAMENTO, Calif. (AP) — California would scale back state Medicaid coverage for immigrants without legal status, eliminate coverage for certain weight loss drugs and use money from a key climate program to help fund state fire response under a $322-billion budget proposal announced Wednesday by Gov. Gavin Newsom.
The Democratic governor’s plan aims to fill a projected $12 billion budget hole he attributed to the Trump administration’s economic policies, a volatile stock market causing a decline in revenues from wealthy taxpayers, and a reduction in global tourism.
“California’s fundamental values don’t change just because the federal winds have shifted,” Newsom said in a statement. “Even as the Trump Slump slows the economy and hits our revenues, we’re delivering bold proposals to build more housing, lower costs for working families, and invest in our kids.”
California is required by law to balance its budget every year. Newsom first unveiled a plan in January without a projected shortfall. His revised proposal now heads to state lawmakers, who have until mid-June to negotiate before a final budget act must be passed.
Here is a look at some of what Newsom is proposing:
Health care and human services
Newsom plans to freeze enrollment for low-income adult immigrants without legal status and require eligible adults to pay a $100 monthly premium. He said the proposed changes to the program would save the state $5.4 billion by the 2028-2029 fiscal year.
Newsom also wants to stop using revenues from a tobacco tax to pay dental, family planning and women’s health providers. The revenues from the tax have declined close to 40% between 2017 and 2024 and can no longer make those payments without using the general fund, a state Department of Finance spokesperson said. The proposal would save at least $500 million a year.
But that would also cut California Planned Parenthood’s budget by a third, the organization said. The group is heavily critical of the proposed cut.
“It’s cruel, quite frankly, especially during this time that we’re fighting at the federal level as well,” said Jodi Hicks, president and CEO of Planned Parenthood Affiliates of California and a Newsom ally.
The governor also proposed eliminating state health care coverage for certain drugs used for weight loss beginning in January 2026, which would save an estimated $85 million for the upcoming fiscal year and $680 million by fiscal year 2028-2029.
The state would also delay the repayment of a $3.4 billion loan for state Medicaid providers under Newsom’s plan.
Newsom plans to cut spending for a program providing in-home domestic and personal care services for some low-income residents and Californians with disabilities by capping workers’ overtime and travel hours at 50 hours per week. The move would reduce spending by nearly $708 million for the upcoming fiscal year.
Environment
Newsom wants to reauthorize the state’s cap-and-trade program through 2045. The program aims to reduce emissions from industrial sources over time through market-based mechanisms, and it is set to expire in 2030.
Money generated through auctions of credits needed to pollute goes into a fund that lawmakers tap for climate-related spending and the state’s high-speed rail project.
Newsom proposed tapping $1.5 billion from that fund for the state fire department. He said the shift would help ensure carbon emitters help pay for the state’s response to fires intensified by climate change.
His proposal would also ensure $1 billion annually for the state’s long-delayed high-speed rail project. The project now receives 25% of the cap-and-trade fund money, which ends up being a little more or a little less than a billion annually depending on the year.
Environmental groups called on Newsom to back proposals aimed at making fossil fuel companies pay the state for damages linked to climate change. The money would be used in part to support the state’s response to climate-driven natural disasters.
Newsom also announced a plan to streamline a project to create a massive underground tunnel to reroute a big part of the state’s water supply.
Public Safety
Newsom proposed closing another state prison by October 2026 to save $150 million annually. Newsom has already approved the closure of three prisons since 2019. The state’s prison population has declined over the years, even after voters last year passed a tough-on-crime ballot measure that could incarcerate more people, according to Newsom’s budget plan. Newsom didn’t specify which facility would shutter.
The budget proposal did not include funding to implement the voter-approved initiative that makes shoplifting a felony for repeat offenders again, increases penalties for some drug charges and gives judges the authority to order people with multiple drug charges to get treatment.
___
Associated Press writer Trân Nguyễn contributed to this report.
___
Austin is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Follow Austin on X: @sophieadanna
Source link
#California #Gov #Gavin #Newsom #plans #address #billion #budget #shortfall
Pelican News
View the full article at [Hidden Content]
For verified travel tips and real support, visit: [Hidden Content]
Nvidia is back in the green amid Trump’s dealmaking
Nvidia is back in the green amid Trump’s dealmaking
NVIDIA CEO Jensen Huang and U.S. President Donald Trump shake hands at an ‘Investing in America’ event in Washington, D.C., U.S., April 30, 2025.
Leah Millis | Reuters
The “Magnificent Seven” group of stocks — comprising Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla — drove much of the S&P 500’s sterling 23.31% gain in 2024.
They have also been some of the hardest stocks hit by U.S. President Donald Trump’s tariffs. Those that rely heavily on global supply chains and export markets, such as Apple and Nvidia, suffered the most. By contrast, Meta and Microsoft, which derive more of their revenue from digital services, such as ad sales or enterprise software, actually saw their shares head upward this year.
On Wednesday, Nvidia joined Meta and Microsoft to become the third member of the Magnificent Seven to trade in the green year to date. It’s a significant move because the chipmaker — as the word suggests — doesn’t deal in intangible products that can slip through trade barriers.
Nvidia’s recovery suggests that dealmaking under Trump — in terms of tariff agreements and broad bilateral ties, such as those he is forging with Saudi Arabia on his state visit — is providing businesses with a better environment. But it also emphasizes how volatile the market can be this year, when the engine behind 2024’s blistering rally can sputter out within the weeks surrounding Trump’s “Liberation Day.”
What you need to know today
Three-day winning streak for S&P 500U.S. markets traded mixed Wednesday. The S&P 500 ticked up 0.1% and the Nasdaq Composite rose 0.72%. The tech-heavy index was lifted by a 4.7% rise in AMD shares after the chip company announced a $6 billion share buyback as well as a jump in Nvidia shares. The Dow Jones Industrial Average lost 0.21%. The pan-European Stoxx 600 dipped 0.24%, ending its four-day winning streak. Burberry shares surged 17% after announcing cost cuts and a turnaround plan.
Nvidia is back in the greenNvidia on Wednesday climbed more than 4% on the back of news that it would sell more than 18,000 of its top artificial intelligence chips to Saudi Arabia. The share move puts Nvidia into positive territory for the year, becoming the latest “Magnificent 7” member stock to return to the green amid the broader market’s recovery. Amazon, Alphabet, Tesla and Apple are still facing year-to-date losses in their share prices.
Largest deal for Boeing and Qatar AirwaysBoeing and Qatar Airways on Wednesday announced a deal for the Middle Eastern airline to buy up to 210 jets during Trump’s state visit with the emir of Qatar. The order, which is the biggest in Qatar Airways’ history — and for Boeing, according to Trump — is a boost to the beleaguered planemaker, which hasn’t posted a profit since 2018.
‘I like you too much’: Trump to Saudi crown princeAt the U.S.-Saudi Investment Forum on Tuesday that was attended by CEOs such as Tesla’s Elon Musk, Nvidia’s Jensen Huang and BlackRock’s Larry Fink, Trump gave a speech in which he praised Saudi Arabia and told the country’s Crown Prince Mohammed bin Salman — who was in the audience — “I like you too much.” Trump also met with Syrian leader Ahmed al-Sharaa in Saudi Arabia the same day.
AI shrank Klarna’s workforceKlarna CEO Sebastian Siemiatkowski told CNBC the company has cut its workforce “from about 5,000 to now almost 3,000 employees” — that’s a reduction of around 40% — because of investments in artificial intelligence and natural attrition in its workforce. The company said last year that AI was doing the work of 700 customer service agents. Klarna paused its initial public offering after Trump announced tariffs.
[PRO] Stocks could retest April lows: Steve CohenSteve Cohen, founder of investment firm Point72, said he thinks stocks could “go back toward the lows” in April and that there’s a 45% chance of a recession. Cohen, however, said a decline in the stock market would not necessarily be a “calamity.”
And finally…
U.S. President Donald Trump (L) listens as Nvidia CEO Jensen Huang speaks in the Cross Hall of the White House during an event on “Investing in America” on April 30, 2025 in Washington, DC.
Andrew Harnik | Getty Images
Trump administration’s next wave of China AI chip export rules are yet another obstacle for Nvidia
Nvidia announced an agreement with Saudi Arabia on Tuesday to develop the kingdom’s artificial intelligence capabilities, a sign of its expanding global strategy.
As Nvidia CEO Jensen Huang was in Saudi Arabia announcing the Blackwell deal, the Trump administration released a new round of AI chip restrictions targeting China. The Commerce Department issued a warning against the use of U.S. AI chips for ******** models and singled out “diversion tactics” and securing supply chains to target smuggling.
The new export restrictions came days after the U.S. and China agreed to pause most tariffs on each other. With the White House also eliminating the “AI Diffusion Rule,” the new policies add another layer of controls for Nvidia to navigate.
Source link
#Nvidia #green #Trumps #dealmaking
Pelican News
View the full article at [Hidden Content]
For verified travel tips and real support, visit: [Hidden Content]
CoreWeave Q1 Revenue Beats. Stock Reverses Down Amid 2025 Capital Spending, Revenue Outlook. – Investor's Business Daily
CoreWeave Q1 Revenue Beats. Stock Reverses Down Amid 2025 Capital Spending, Revenue Outlook. – Investor's Business Daily
CoreWeave Q1 Revenue Beats. Stock Reverses Down Amid 2025 Capital Spending, Revenue Outlook. Investor’s Business DailyCoreWeave beats on revenue, reports more than 400% growth in first earnings after IPO CNBCNvidia-backed CoreWeave stock jumps on Q1 revenue beat as CEO cites ‘robust’ AI demand Yahoo FinanceCoreWeave Reports Strong First Quarter 2025 Results PR NewswireNvidia-backed CoreWeave to spend up to $23 billion this year to tap AI demand ***** Reuters
Source link
#CoreWeave #Revenue #Beats #Stock #Reverses #Capital #Spending #Revenue #Outlook #Investor039s #Business #Daily
Pelican News
View the full article at [Hidden Content]
*********** Wool Innovation survey set to determine the group’s focus for the next six months
*********** Wool Innovation survey set to determine the group’s focus for the next six months
*********** sheep producer confidence slumped this time last year and it is now time to determine whether this sentiment has changed in the face of continuing harsh weather conditions and industry uncertainty.
*********** Wool Innovation’s Sheep Producer Intentions Survey is open for responses throughout May to do exactly this.
Data collected will help analysts improve analysis and forecasts, and will be used as a tool when developing Meat amd Livestock Australia programs, to ensure adoption and communication efforts match industry sentiment.
The SPIS is conducted in two waves each financial year — one in October and one in May.
The surveys ask producers for their sentiment towards the sheep and wool sectors, current flock demographics and future intentions.
In the May 2024 report, weather was noted as having the most impact on on-farm decision making for wool, lamb and sheep meat producers in Tasmania, Victoria and South Australia.
Meanwhile, WA results noted personal circumstances as a larger decision driver.
Personal circumstances included age, workload and succession and were pronounced in regions experiencing prolonged uncertainly.
In WA’s case, the ban on live sheep exports explained uncertainty sentiments.
More than 2000 producers Australia-wide participated in the May survey.
As a result of the survey findings, MLA noted personal considerations as an area where the industry may need to place more focus to ensure the longevity and succession of the sector.
According to the October 2024 survey findings, negative sentiment dropped a marginal 2 per cent.
Results from past reports can be viewed on the Meat & Livestock Australia website.
Source link
#*********** #Wool #Innovation #survey #set #determine #groups #focus #months
Pelican News
View the full article at [Hidden Content]
King Charles & Trump’s Relationship Takes Dramatic Turn as the Monarch Makes an ‘Unprecedented’ Move
King Charles & Trump’s Relationship Takes Dramatic Turn as the Monarch Makes an ‘Unprecedented’ Move
King Charles still plans to meet with US President Donald Trump. The monarch previously expressed interest in meeting him shortly after he was inaugurated.
Prince Charles wrote a letter to President Trump with the intent of another state dinner. After it was shared by *** Prime Minister Keir Starmer, Trump shared the contents of the letter: “Quite apart from this presenting an opportunity to discuss a wide range of issues of mutual interest, it would also offer a valuable chance to plan a historic second state visit to the United Kingdom. As you will know, this is unprecedented by a US president. That is why I would find it helpful for us to be able to discuss, together, a range of options for location and programme content.”
More from StyleCaster
WASHINGTON, DC – FEBRUARY 27: *** Prime Minister Sir Keir Starmer (unseen) hands an invitation from King Charles III for a second state visit to U.S. President Donald Trump at the White House on February 27, 2025 in Washington, DC. (Photo by Carl Court – Pool/Getty Images)
The letter continued, “In so doing, working together, I know we will further enhance the special relationship between our two countries of which we are both so proud.”
“I think the last state visit was a tremendous success. His majesty the King wants to make this even better than that, so this is truly historic,” Starmer said.
“The answer is yes,” Trump responded.
Related: Here Are the Celebs Who Support Trump’s Presidency—& Who’s Attended His Inauguration
Trump previously expressed a desire to go to the *** for his second state visit. “They’re going to do a second, as you know, a second fest,” Trump said, adding, “That’s what it is: a fest, and it’s beautiful, and it’s the first time it’s ever happened to one person.”
“And the reason is we have two separate terms, and it’s an honor,” he said. Trump continued, “I’m a friend of Charles. I have great respect for King Charles and the family, William. We have really just a great respect for the family. And I think they’re setting a date for September.”
********* Prime Minister Mark Carney reacted to the act, “I think, to be frank, they [Canadians] weren’t impressed by that gesture … given the circumstance. It was at a time when we were being quite clear, some of us were being quite clear, about the issues around sovereignty.”
The President last visited the *** in 2019 when he was invited by Queen Elizabeth II for a state visit. He had afternoon tea with the then Prince Charles. Sources close to the late monarch reported that she found Trump “rude.” “A few weeks after President Trump’s visit, for instance, she confided in one lunch guest that she found him ‘very rude’: she particularly disliked the way he couldn’t stop looking over her shoulder, as though in search of others more interesting,” Craig Brown wrote in the book, according to an excerpt serialized in the Daily Mail.
The invite comes after reports that succession plans are already underway. The European Editor-at-Large at the Daily Beast, Tom Sykes, revealed on the outlet’s podcast that “succession plans are gearing up” as “no one is really expecting Charles to live, you know, more than three or four years.”
“And I mean that in the context of that when he came to the throne, people definitely felt he could live ‘til he was the age of his mother or his father who was 99,” Sykes said. “So people definitely thought it was 20 years of the King Charles era and I think people much more now think it is now going to be a five, six year reign, something like that.”
Though the King recently spoke about his ‘frightening’ ******* diagnosis while hosting a reception for the ******* community at Buckingham Palace, it seems for now he’s doing just fine and a state visit is in the cards.
Best of StyleCaster
Sign up for Stylecaster’s Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
Source link
#King #Charles #Trumps #Relationship #Takes #Dramatic #Turn #Monarch #Unprecedented #Move
Pelican News
View the full article at [Hidden Content]
House punts on Trump impeachment vote at 11th hour – Axios
House punts on Trump impeachment vote at 11th hour – Axios
House punts on Trump impeachment vote at 11th hour AxiosTop House Dems say they’ll join GOP to quash Trump impeachment effort Fox NewsThanedar opts against forcing impeachment vote amid backlash PoliticoHouse Democrat withdraws Trump impeachment bill that angered party leaders ABC NewsLone Democrat’s Trump impeachment push blindsides party CNN
Source link
#House #punts #Trump #impeachment #vote #11th #hour #Axios
Pelican News
View the full article at [Hidden Content]
Man arrested after two police officers injured during pursuit through Churchlands
Man arrested after two police officers injured during pursuit through Churchlands
Two police officers have been hurt after a vehicle slammed into the side of their car following a dangerous pursuit through Churchlands.
Source link
#Man #arrested #police #officers #injured #pursuit #Churchlands
Pelican News
View the full article at [Hidden Content]
After Pilot Lost Consciousness, Plane Likely Continued on Autopilot Until ****** That Killed 4, Including Mom and Child: NTSB
After Pilot Lost Consciousness, Plane Likely Continued on Autopilot Until ****** That Killed 4, Including Mom and Child: NTSB
Nearly two years after a private jet crashed in Virginia, killing four, the National Transportation Safety Board released their final report into the accident
Although investigators were not able to determine a likely cause for the ******, several questions remain unanswered
The victims were Adina Azarian, 49, her daughter Aria, 2, Aria’s nanny, Evadnie Smith, 56, and the pilot Jeff Hefner, 69
The National Transportation Safety Board (NTSB) released their final report following an investigation into a June 2023 plane ****** that killed four people.
On Wednesday, May 14, the NTSB revealed that the likely cause of the ****** was “pilot incapacitation due to loss of cabin pressure for undetermined reasons.” Additionally, a contributing factor was listed as the “pilot’s and owner/operator’s decision to operate the airplane without supplemental oxygen.”
“Based on the available information, it is likely that the airplane occupants became hypoxic due to a lack of oxygen during the flight and became incapacitated, the NTSB wrote, noting that the symptoms of altitude-related hypoxia “are often vague and are experienced differently by different individuals,” but if not remedied or mitigated can lead to death.
On board at the time of the ****** were Adina Azarian, 49, her daughter Aria, 2, Aria’s live-in nanny, Evadnie Smith, 56, and the pilot Jeff Hefner, 69.
In addition to not being able to determine exactly what led to the loss of cabin pressure, investigators were unable to determine whether that was something that happened quickly or over some time.
Jeff Hefner/Facebook
Jeff Hefner
The NTSB wrote that the pilot contacted Atlanta Air Route Traffic Control Center shortly after taking off from Elizabethton Municipal Airport in Tennessee shortly before 1:15 p.m. on June 4, 2023. However, around 15 minutes later, the pilot stopped responding to air traffic control despite “repeated attempts.”
Investigators say it is likely the pilot became incapacitated while climbing to that cruising altitude and that it’s likely that the plane was directed by autopilot for the rest of the flight, until the point where autopilot was no longer able to maintain control.
Never miss a story — sign up for PEOPLE’s free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories.
After reaching an altitude of 34,000 feet, the plane continued to fly at that altitude — and about an hour later, it overflew its intended destination in Long Island and turned around, flying over Washington, D.C.
About two minutes before the ******, United Air Force Pilots were authorized to make contact with the plane — which led to a “sonic *****” heard by many nearby — and they observed seeing the pilot slumped over in his seat. Additionally, no movement was observed in any of the other passengers.
Then, at 3:22 p.m., the plane “entered a rapidly descending right spiral descent” and landed in a wooded area near Montebello, Va.
An investigation found that in the days and weeks before the ******, maintenance personnel noted a number of issues, including “several related to the pressurization and environmental control system” as well as a missing pilot-side oxygen mask.
The report noted that there was no evidence to suggest these issues were fixed before the flight.
According to the NTSB, the pilot did have medication conditions, including high blood pressure and cholesterol, and was prescribed medications that could lead to impairment. However, they found “no evidence” that the pilot was at an “exceptionally high incapacitation risk” or had used his medications inappropriately at the time of the ******.
“Based on the accident circumstances,” the NTSB wrote, “it is likely that all airplane occupants were incapacitated due to a common environmental condition, such as loss of cabin pressurization.”
Read the original article on People
Source link
#Pilot #Lost #Consciousness #Plane #Continued #Autopilot #****** #Killed #Including #Mom #Child #NTSB
Pelican News
View the full article at [Hidden Content]
For verified travel tips and real support, visit: [Hidden Content]
UnitedHealth under criminal probe for possible Medicare fraud, report says
UnitedHealth under criminal probe for possible Medicare fraud, report says
Bloomberg | Bloomberg | Getty Images
The U.S. Department of Justice (DOJ) is investigating UnitedHealth Group for possible Medicare fraud, the Wall Street Journal reported on Wednesday.
While the exact nature of the criminal allegations are unclear, the Journal said, citing people familiar with the matter, the probe by the healthcare-fraud unit of the DOJ’s criminal division is active since at least last summer.
Reuters could not immediately confirm the details of the report.
The company’s stock fell 6.7% in after-hour trade following the WSJ report.
In February, the Journal had reported a civil fraud investigation by the DOJ into the company’s practices for recording diagnoses that triggered extra payments to its Medicare Advantage plans.
A DOJ spokesman declined to comment to the Journal. UnitedHealth Group and the DOJ did not immediately respond to Reuters requests for comments.
Source link
#UnitedHealth #criminal #probe #Medicare #fraud #report
Pelican News
View the full article at [Hidden Content]
2025 NFL schedule release: Complete slate of Week 1 games – NFL.com
2025 NFL schedule release: Complete slate of Week 1 games – NFL.com
2025 NFL schedule release: Complete slate of Week 1 games NFL.com2025 NFL schedule release live updates: Thanksgiving, Christmas, international games and more as full schedule is announced Yahoo SportsThe NY Giants announced their 2025 schedule. Get MetLife home game tickets New York PostMonday Night Football: Five doubleheaders headline the slate NBC SportsJudging five possible overreactions to the full NFL schedule: The 49ers have it easy, right? ESPN
Source link
#NFL #schedule #release #Complete #slate #Week #games #NFL.com
Pelican News
View the full article at [Hidden Content]
BBC Radio 2 breakfast show’s audience drops after Zoe Ball’s exit
BBC Radio 2 breakfast show’s audience drops after Zoe Ball’s exit
The BBC Radio 2 breakfast show lost more than 360,000 listeners following Zoe Ball’s exit, new audience figures show.
The presenter hosted her final breakfast programme in December after six years in the slot, and recently took up a new role fronting Saturday afternoons on the station.
After her departure, DJ Mark Goodier covered the show for most of January, until new host Scott Mills took over at the end of that month.
Radio 2 still comfortably has the most popular breakfast show in the ***, attracting an audience of 6.45 million between January and March, a 5% drop on the previous quarter, according to industry ratings body Rajar.
Ball had added more than 200,000 listeners during her final three months on the programme.
After taking over the breakfast show, Mills was replaced on his former afternoon slot by Trevor Nelson, whose evening programme was taken over by DJ Spoony.
Vernon Kay attracted an audience of 6.73 million in the first three months of 2025, meaning his mid-morning show retained its crown as the most popular radio programme in the ***.
The show is down, however, on the audience of 8.2 million achieved by his predecessor Ken Bruce, who left in 2023.
The station’s weekly audience fell by about half a million compared with its previous total of 13.65 million in the final quarter of 2024, Rajar said.
Radio 2 chief Helen Thomas said: “In a quarter which saw Radio 2 launch a new daytime schedule in late January, host some of the world’s most loved musicians in the Piano Room throughout February, and celebrate country music in March, I’m thrilled that Radio 2 remains the ***’s most popular radio station with 13.11m listeners each week.”
Listening figures often drop after major schedule changes, and Ball herself lost nearly 800,000 listeners in 2019 after Chris Evans’ departure.
The breakfast show regularly attracted more than nine million listeners during Evans’ tenure. That figure has not been matched since, although radio audiences have become increasingly fragmented in recent years.
The BBC, and Radio 2 in particular, went through a tumultuous ******* around 2022, which saw several high-profile figures leave the station, either by choice or through schedule shake-ups.
Elsewhere, Heart’s breakfast show, hosted by Jamie Theakston and Amanda Holden, has seen its audience rise by 250,000 listeners.
It attracted a record audience of 4.3 million in the first quarter of the year, cementing its status as the most popular commercial breakfast show in the ***.
Meanwhile, Gok Wan’s first three months co-hosting Magic Radio’s breakfast show, alongside Harriet Scott, saw the programme marginally increase its audience to 862,000.
However, it is still significantly down on the 1.2 million listeners it had a year ago, when it was fronted by former Boyzone singer Ronan Keating.
Capital’s breakfast show, hosted by Jordan North, was down by 140,000 listeners after a leap in listeners following his arrival last year.
And after a loss of more than a quarter of a million in 2024, Kiss Breakfast, hosted by Jordan Banjo and Perri Kiely, climbed by 80,000 in the latest quarter.
Source link
#BBC #Radio #breakfast #shows #audience #drops #Zoe #****** #exit
Pelican News
View the full article at [Hidden Content]
‘I’m not expecting much’: James Tedesco’s sole focus is on the Roosters, with the former Blues skipper not banking on a Blues recall
‘I’m not expecting much’: James Tedesco’s sole focus is on the Roosters, with the former Blues skipper not banking on a Blues recall
James Tedesco hasn’t been burdened by State of Origin expectations this year, but he is right in the mix to earn a recall even if he doesn’t expect it.
Source link
#expecting #James #Tedescos #sole #focus #Roosters #Blues #skipper #banking #Blues #recall
Pelican News
View the full article at [Hidden Content]
Taiwan’s Computex to showcase AI advances, Nvidia’s Huang to take centre stage
Taiwan’s Computex to showcase AI advances, Nvidia’s Huang to take centre stage
By Wen-Yee Lee
TAIPEI (Reuters) – At Taiwan’s annual Computex trade show next week, the spotlight is expected to fall, once again, on Nvidia CEO Jensen Huang and the latest in artificial intelligence, but also on the potential destablising impact of higher U.S. tariffs.
Huang, who last year sparked “Jensanity” from avid fans at the fair, Qualcomm CEO Cristiano Amon and Foxconn Chairman Young Liu will be among top executives attending.
Computex, which runs May 20-23 and is expected to have 1,400 exhibitors, marks the first major gathering of computer and chip bosses in Asia since U.S. President Donald Trump threatened sweeping reciprocal tariffs in April, pushing companies to produce more in the United States.
“If last year’s headline was AI PCs, this year it’s probably going to be about collaboration, driven by the macroeconomics,” said Ian Cutress, chief analyst at consulting firm More Than Moore.
Huang, who is scheduled to deliver a keynote speech on Monday, is expected to announce more Nvidia partnerships with AI server firms in Taiwan, such as Foxconn and Quanta.
“Obviously, Nvidia relies a lot on the Taiwanese ecosystem to deliver,” Cutress said. “There may be some sort of nod to the political tariff situation.”
Nvidia said in April it would produce AI servers worth $500 billion in the U.S. over four years, working with companies like TSMC, Foxconn and Wistron.
Nvidia and AMD also have to contend with tighter export controls on sales of advanced AI graphics processing units to China.
Qualcomm said it will provide updates on its AI PC developments while MediaTek plans to outline its vision for edge AI, which involves running AI software on devices near the data source, as well as cloud AI.
AMD will discuss its advancements in gaming and AI-powered personal computers.
Intel’s new CEO Lip-Bu Tan does not plan to speak publicly at Computex this year but will host a private dinner with Taiwanese partners.
Taiwan’s Advantech, the world’s largest maker of industrial computers, will return after a decade-long absence with plans to showcase its AI systems.
Its chairman, K.C. Liu, said this month that Huang had done much to help the show evolve from being focused on consumer goods such as laptops to one that highlights technological advances and brings much-needed publicity to products for businesses.
“Taiwan has also changed,” Liu said. “The entire industry has shifted toward AI, so it’s no longer enough to focus solely on B2C products.”
(Reporting by Wen-Yee Lee; Additional reporting by Ben Blanchard; Editing by Brenda Goh and Edwina Gibbs)
Source link
#Taiwans #Computex #showcase #advances #Nvidias #Huang #centre #stage
Pelican News
View the full article at [Hidden Content]
Privacy Notice: We utilize cookies to optimize your browsing experience and analyze website traffic. By consenting, you acknowledge and agree to our Cookie Policy, ensuring your privacy preferences are respected.
