Author: Emily Harper

Morgan Stanley has begun sounding out investors on a US $5 billion financing package for Elon Musk’s artificial-intelligence start-up xAI. Two structures are on offer: a floating-rate term loan B sold at 97 cents on the dollar and priced at SOFR + 700 basis points, and an alternative mix of a smaller term loan plus senior secured notes paying a fixed 12 percent coupon. Commitments are due later this month, with pricing to be flexed according to demand. At last week’s virtual roadshow the bank shared preliminary revenue forecasts, projecting positive free cash flow within three years once the Grok…

GOP Proposal Targets Immigrant Benefits—Legal Families at Risk A new legislative proposal from House Republicans aims to reshape access to federal assistance programs by blocking millions of immigrants from benefits like food stamps, tax credits, and health coverage. Although the stated goal is to prevent undocumented immigrants from receiving government aid, the most significant impact would fall on legal immigrants and U.S. citizen children whose parents lack full immigration status. This policy shift would reshape who qualifies for essential services such as the Supplemental Nutrition Assistance Program (SNAP), the Child Tax Credit, and subsidies through the Affordable Care Act (ACA).…

Activists Intercepted on Gaza-Bound Aid Boat A group of 12 international activists, including Swedish environmental advocate Greta Thunberg, was intercepted by Israeli forces while attempting to deliver humanitarian aid to Gaza by sea. The vessel, a small yacht operated by the Freedom Flotilla Coalition and named The Madleen, was aiming to challenge the Israeli naval blockade and draw global attention to the worsening humanitarian crisis in the region. According to the activist group, the interception occurred in international waters. The boat had departed from the Italian city of Catania and carried a symbolic amount of aid intended to highlight the…

A second round of high-stakes negotiations between the United States and China entered its second day at London’s Lancaster House on Tuesday, providing the first real test of whether last month’s fragile tariff truce can grow into a broader economic détente. Officials from both capitals say genuine progress is possible, but they admit the road to a deal is littered with disputes over minerals, microchips and market access. From Geneva Truce To Lancaster House The current diplomatic push began with a hurried meeting in Geneva in May, where trade envoys agreed to freeze most of the triple-digit duties each side…

Chenab Bridge Marks Historic Engineering Feat The world’s highest railway bridge was inaugurated Friday in India-administered Jammu and Kashmir, an engineering marvel that sits 359 meters (1,180 feet) above the Chenab River—making it 29 meters taller than the Eiffel Tower. The arched Chenab Bridge, decades in the making and costing more than $160 million, spans 1,315 meters (4,314 feet) across a remote mountain valley. The structure is part of a broader infrastructure push by the Indian government to integrate the Himalayan region more fully with the rest of the country. The opening ceremony was led by Indian Prime Minister Narendra…

From Perth to Bondi Beach: 2,387 Miles in 35 Days British ultrarunner and influencer Will Goodge has achieved a remarkable feat by running across the entire Australian continent in just 35 days. Covering 2,387 miles (3,841 kilometers) from Perth to Sydney’s iconic Bondi Beach, Goodge averaged over 68 miles per day—equivalent to more than two and a half marathons daily. If officially ratified, the achievement would surpass the previous record set by Chris Turnbull in 2023 by nearly five days. Despite extreme physical and mental demands, including sleepless nights, persistent hallucinations, and chronic pain, Goodge pushed forward with relentless determination.…

Former President Donald Trump has revived and widened one of his most controversial initiatives, unveiling a proclamation that fully bars citizens of 12 nations from obtaining new U.S. visas and places much tighter screening on travelers from seven additional countries. The measure, effective immediately and lacking a sunset clause, follows a year-long audit of international identification standards, stolen-passport reporting and visa-overstay rates. Trump framed the action as a “necessary firewall” against terrorism and pandemics, arguing that several foreign governments refuse either to repatriate deportees or to share biometric data. Senior Homeland Security officials said all 19 nations missed at least…

Hedge Funds Anticipate Windfall A high-stakes gamble made by hedge funds over a decade ago could finally pay off, as former President Donald Trump pushes to privatize mortgage giants Fannie Mae and Freddie Mac. The two companies, which have been under government conservatorship since the 2008 financial crisis, are now poised to return to the public markets. Trump’s proposed spin-off has sent Fannie and Freddie’s stocks soaring — and with them, the hopes of billionaire investors like Bill Ackman. Ackman’s hedge fund, Pershing Square Capital, is one of the largest holders of Fannie and Freddie shares. He’s been vocal about…

The Growing Rift Between Policy and Progress The United States, long regarded as a global leader in scientific innovation, now finds itself at a critical juncture. Actions taken against academic research and restrictions placed on international students have begun to reverberate across the tech and research sectors—particularly in artificial intelligence. While policymakers cite national security concerns, the unintended consequences may be far more profound: accelerating China’s rise as a major player in the global AI race. At the center of this conversation is Helen Toner, a renowned researcher in the AI space and former board member at OpenAI. Now serving…

Texas and 12 other Republican-led states accuse BlackRock, Vanguard and State Street of using their collective market power, and their public commitment to curb climate risks, to pressure coal producers into shrinking output, allegedly driving up electricity bills and violating U.S. antitrust law. The suit, filed in a federal court in Texas, contends that the three asset-management giants coordinated through industry climate initiatives such as Climate Action 100+ and the Net Zero Asset Managers alliance to influence corporate strategy, rather than simply exercise normal shareholder oversight. Together, the firms oversee roughly $27 trillion, giving them unmatched proxy-voting clout across the…