Ed Martin leaving Justice Dept. after tumultuous tenure that alienated colleagues
Martin’s clashes cost him jobs as U.S. attorney and as head of the Justice Department’s “weaponization” group.
Longer-dated Treasury yields surged as the Treasury Department's debt repurchase program failed to stabilize markets. Investors dumped both stocks and bonds Thursday as government efforts to manage borrowing costs proved ineffective, with yields jumping despite intervention attempts.
Bond yields are now moving higher across the curve, pressuring equity valuations and signaling rising real borrowing costs. The failure of Treasury buyback operations to anchor sentiment suggests the $40 trillion national debt is becoming a direct market constraint rather than an abstract concern.
The Fed and Treasury face a credibility gap: policy tools designed to manage debt dynamics are losing effectiveness. This dynamic could force either higher rates to attract buyers or fiscal restraint—neither politically palatable in 2026.
Bitcoin surged past $77,000 this week, posting a 20% gain in two days and tracking toward its best week in over two years. Strategy's Bitcoin treasury climbed out of the red as investor optimism flooded back into digital assets.
Crypto miners (Canaan, Riot) and Bitcoin treasury companies (Strive, Metaplanet) posted double-digit gains. The rally suggests institutional capital is rotating into Bitcoin as a hedge against Treasury yield volatility and currency debasement concerns.
Bitcoin's resurgence as a macro hedge reflects deepening skepticism about traditional asset stability. If the rally sustains above $80K, it signals a structural shift in how large investors view inflation and debt risk.
The Supreme Court issued a temporary order allowing Trump's $400 million White House East Wing ballroom construction to resume while the justices deliberate a final decision. The project had been frozen pending litigation over the scope of presidential renovation authority.
Direct market impact is minimal, but the ruling signals the Court's willingness to defer to executive discretion on executive branch property decisions. Construction contractors and materials suppliers tied to the project can now proceed with planning.
The temporary order suggests the Supreme Court may ultimately side with the administration on presidential renovation authority, expanding executive latitude on internal White House projects without congressional appropriation.
Consumer advocates are urging the FTC to examine whether AI developers are systematically hoarding and destroying millions of books to reduce competition and limit public access to training data. The practice raises questions about whether AI firms are engaging in anticompetitive conduct.
An FTC investigation could impose compliance costs on major AI firms (OpenAI, Google, Meta, Anthropic) and restrict their ability to use copyrighted material for model training. Publishers and authors could gain leverage in licensing negotiations.
This represents a shift toward treating AI training data acquisition as a competition issue rather than a fair use question. Regulatory scrutiny of data hoarding could reshape how AI firms source and manage training materials.
Federal Reserve Chairman Kevin Warsh is set to deliver a keynote address at the Jackson Hole Economic Symposium, with markets treating it as the key event for understanding the Fed's stance on rates and inflation. U.S. PCE data will also be in focus as investors parse the inflation picture.
Bond yields and equity valuations will likely swing sharply on Warsh's rhetoric around rate cuts, inflation persistence, and Treasury debt dynamics. Any signal of hawkish persistence could extend the bond selloff; dovish language could stabilize yields.
Warsh's speech is a critical test of whether the Fed will acknowledge the Treasury debt problem as a constraint on monetary policy, or continue to treat inflation and employment as the primary drivers of rate decisions.
A coalition of 22 states won a legal victory blocking the Trump administration's demand for access to 17 million commercial driver's license records from the federal CDL database. The states argued the demand exceeded executive authority and violated privacy protections.
The ruling limits the administration's ability to conduct mass data collection for immigration enforcement or other federal purposes. Logistics and transportation firms may face reduced federal scrutiny of driver records, but the decision also signals judicial limits on executive data access.
This represents a rare judicial check on executive power in 2026. The decision suggests courts remain willing to constrain federal data collection, even under a Republican administration, setting a precedent for privacy-focused federalism.
Oil prices posted a second straight weekly gain as the U.S. vowed to increase economic pressure on Iran. Simultaneously, a spike in "dark" tankers—vessels with disabled location tracking—has surged in the Strait of Hormuz as operators evade Iranian attacks.
WTI and Brent crude are benefiting from supply uncertainty and geopolitical risk premium. The proliferation of untracked tankers raises the risk of catastrophic spills or collisions, which could trigger emergency supply disruptions and price spikes.
The Strait of Hormuz is becoming increasingly unstable as Iran retaliates against U.S. pressure. Sustained tanker evasion tactics signal a structural shift toward higher shipping costs and supply-chain fragility in global energy markets.
Tesla received regulatory approval to deploy thousands of Cybercabs in Las Vegas and is preparing launches in Austin, Texas. The clearance removes a major regulatory barrier to the company's autonomous vehicle commercialization timeline.
Tesla stock jumped on the news, reflecting investor relief that autonomous vehicle deployment is no longer purely speculative. The approval validates the Cybercab program and suggests regulators are willing to permit large-scale autonomous fleet operations.
This marks a turning point for autonomous vehicle commercialization in the U.S. If Tesla's Las Vegas and Austin deployments succeed, it could accelerate adoption timelines across the industry and force traditional automakers to accelerate their own autonomous programs.
TikTok agreed to pay $400 million to settle a Justice Department lawsuit alleging violations of child privacy law. The FTC had sued in 2024 over the platform's collection and use of data from minors without proper consent or safeguards.
The settlement is a significant financial hit for TikTok's parent ByteDance but does not resolve the broader question of TikTok's operational status in the U.S. The payment signals the FTC's willingness to pursue large fines against social platforms for child privacy violations.
The settlement establishes a precedent for FTC enforcement against social media platforms over child data practices. Other platforms (Meta, Snapchat, YouTube) may face similar scrutiny, raising compliance costs across the social media industry.
Martin’s clashes cost him jobs as U.S. attorney and as head of the Justice Department’s “weaponization” group.
The temporary order will allow the $400m (£297m) to continue while the high court mulls a final decision on the case.
President Donald Trump had the White House's East Wing demolished in 2025 to make way for his controversial planned ballroom.
The duchess's representatives have had exploratory talks about her joining a third season of “The Gentlemen,” two people said. Netflix has …
Two U.S. Army Corps of Engineers employees were among eight killed when a charter plane crashed in fog near Cape Newenham radar site in Ala…
The Justice Department sued TikTok in 2024, alleging that it violated a U.S. law prohibiting the collection of kids' data.
The automaker plans to soon launch its Cybercab in Austin, Texas, and got the nod to deploy thousands of vehicles in Nevada.
The debt has more than doubled in a decade to reach a milestone $40tn (£29.4tn), Treasury figures show.
Police department for Navajo Nation neither identified the victim nor said what type of bear had killed himIn a rare kind of attack, a bear…
Gracy Chen says macroeconomic uncertainty could keep Bitcoin within $10,000 to $20,000 of current levels, while US government purchases rem…
Two years after the U.S. Department of Justice alleged that TikTok violated the Children’s Online Privacy Protection Act, it has reached a …
Billionaire investor Ray Dalio said the the debt buyback announcement this week fits into a larger pattern that could signal a forthcoming …
Dash camera video captured a 12-mile Wisconsin police chase before the suspect bailed from a moving car and disappeared into a dense cornfi…
Zymire Hughes, the alleged masked suspect who allegedly terrorized Philadelphia joggers, may be in Los Angeles, with U.S. Marshals and poli…
European regulators have imposed billions in penalties on US technology companies due to privacy, competition and digital market rulesThe D…
The surprising move this week by Treasury Secretary Scott Bessent to intervene in Treasury markets to lower the cost of government debt und…
Hyundai union stages first full strike in a decade
But Tehran’s top crude buyer appears unwilling to play ball.
‘This show is incredibly out of touch with where Americans are’
The hedge fund founder with an estimated net worth of $15 billion recommended that investors overweight Bitcoin and gold rather than bonds.
Utah residents can snag a 5.00% APY boost as Accordia Bank celebrates its rebrand, while everyone else can still earn a competitive rate.
The president’s political clout is on the line as he heads to South Carolina to campaign for Darline Graham. Several of his endorsed candid…
Devoted Health is raising a new round of funding at a $25 billion valuation
The $225 Pebble Time 2 pairs quirky watch faces and apps with physical buttons, an e-paper display, weeks of battery life, and a playful ha…
Discover how intermodal freight is delivering massive savings in today’s volatile market. As truckload spot and contract rates stabilize, i…
Closing arguments could come on Monday as prosecutors seek murder conviction over deaths of three young childrenLindsay Clancy’s defense in…
Zelenskyy described the attack as a double-tap strike, in which an initial wave of drones hit the area, followed by a second wave as rescue…
Cash drop social media accounts have people racing to find money hidden across the country. Here's what's behind the viral videos.
Nvidia research shows that AI agents can perform well, and not go off the deep end, through fine-tuning, even if the AI model isn't that gr…
The 10-year blueprint mandates water cuts of up to 40% for California, Arizona and NevadaIt’s official: after years of tense negotiations a…
"I teach anybody," NYC's most iconic driving instructor Shanti Gooljar says.
Asking people to weigh in on adoption of different categories in move that will sow confusion and create access challenges, say expertsThe …
Operation Hard Ball charged 37 defendants as investigators uncovered cocaine thefts and cross-border drug networks using long-haul trucks a…
Tesla and other Chinese carmakers are recalling more than 4 million vehicles over safety concerns including risks tied to their door handles
The CFTC ordered a trading ban for former Alameda and FTX executives, and US prosecutors opposed a motion from a US soldier accused of prof…
If you’ve been circling around Disrupt, then now’s the best time to lock in your pass and start getting ready to join the rest of the start…
In a letter sent to clients Friday, Griffin revealed the firm has conducted more than 100 block trades worth over $4 billion in just three …
Matt Zames will take on an unpaid adviser position at the Social Security Administration, according to reports.
The price of beef has climbed this year while other grocery prices have leveled out.
Remember who the real victims are
Industry advocacy group seeks greater latitude for Corps to advance projects as Congress works toward final water resources bill.
One of the 21st century’s most prominent landowners has added a nearly 200-year-old estate to his holdings. Archival information says it ca…
Anton Jager explains why record voter turnout isn’t leading to systemic change.
Vice President JD Vance joined Sen. Jon Husted and other GOP leaders at a Middletown, Ohio, steel plant, as data center fears loom.
US National Debt History
The Defense Department earlier this year railed against the publication, which has long enjoyed editorial independence, as “woke.”
Early policy choices shaped the inequity and employment challenges facing the country today.
CEO Jim Farley says Ford is 'excited about our rally direction,' and he believes the brand should offer an affordable rally car.
This would be Meghan's first significant acting role since her marriage to Prince Harry.
Maybe this stuff works on TV or on the stump. But it doesn’t work on Wall Street, where people can count.
Pope Leo warns AI could become a new form of ‘economic colonialism’
One suspect is in custody, but police have not disclosed a possible motive.
The administrative stay gives the court more time to weigh an emergency appeal by the Trump administration in a lawsuit challenging the pro…
The department told Nevada officials that the 15,903 figure registered was ‘preliminary’ and more than 14,000 names still needed reviewAbou…
Chief justice signs temporary order to permit work while court considers emergency appeal from administrationThe US supreme court has allow…
Portuguese President António José Seguro has enacted a measure that bans people from covering up their face while in public places, with so…
Jessica Bowie's booking photo shows the Albany woman accused of pledging allegiance to ISIS and plotting to bomb the New York State Ca…
Tesla's solar roof was an experiment that never really caught on for the company. But does that mean the concept of roof-integrated solar i…
Northern Ireland’s most outlandish plan comes to fruition in Jan Carson’s new novel.
The so-called breakeven rate hit its highest levels in more than two months.
Nepotism could tank the far right’s chances in Brazil.
Everyone was waiting for $45,000. Bitcoin nearly touched $80,000.
8 things you should never talk about at work, according to etiquette experts
A 25.6% gain in kickoffs last month followed a plunge in June. Dodge said the trend points to “a disjointed construction market.”
Sales at Walmart’s U.S. stores rose just 2.6% in the latest quarter, while the retailer’s stock plunged more than 9% Thursday, its steepest…
Test yourself on the week of Aug. 15: Trump praises Kim Jong Un, the U.S. and Iran miss a deadline, and the U.K. shrugs off Russian threats.
Laken Snelling told the court she "deprived him of oxygen" after her newborn came unexpectedly, changing her plea in the University of Kent…
President Trump on Friday announced plans to lift tariffs on beef imports for 90 days as he attempts to crack down on soaring grocery bills.
NASA is pivoting from a mission to save the Swift telescope. CBS News' Bill Harwood explains why.
What's happening with the national debt — and how it could affect your wallet
The use of artificial intelligence on Capitol Hill could pose some issues for bills that may become U.S. laws later on. Ari Hershowitz, fou…
Chris Spear, long-time head of the ATA, is leaving the organization. The post Chris Spear departing as head of American Trucking Associatio…
The fast-fashion giant is targeting a listing in Hong Kong by Sept. 1. It’s been trying to go public for four years.
‘might lower the technical, operational, and motivational barriers’
America’s global effective tariff stands at 10.0%
A new survey reveals a preference for the U.S. president’s transactional approach.
PBD Says AOC Has the Likability Hillary Clinton Never Had
The National Highway Traffic Safety Administration has received complaints of engine failures outside the scope of last year’s recall.
The defense rested in Lindsay Clancy's murder trial Friday in Massachusetts. The prosecution has started calling rebuttal witnesses.
Andreessen Horowitz has two partners sitting on the boards of companies that now compete with each other: Ben Horowitz at Databricks and Ma…
ICE charter carrying more than 160 Haitian nationals landed in Cap-Haïtien, after temporary protection status was revokedThe first deportat…
Microsoft and Discord subpoenaed over GTA VI gameplay leaks
An alternative measure of unemployment that accounts for wages suggests the U.S. labor market is weaker than it looks.
Economists said there were ongoing concerns over the level of borrowing as national debt passed $40tn.
Another California grocery chain bites the dust.
Several patients at a Tennessee hospital say they were hurt after hospital staff allegedly mixed up their medications during routine joint …
History is About to Be Made... (Emergency Update)
U.S. and Canadian officials were engaged in additional talks on Friday. Details about what’s in their new trade deal have trickled out.
Cattle ranchers have trimmed their herds in response to drought and low margins, helping push up the cost of another American staple food.
When an agentic AI system hands a task from a small model to a larger one — or back down again — it pays a steep tax: the receiving model h…
Multiple people testified that Diddy offered $1 million for the hit but didn’t pay-up
Pixel 11 gets in on the digicam trend
An Evercore ISI analyst sees strong growth ahead for storage makers, networking providers and Apple.
PennWest freshman Karoline Heintz, 18, was allegedly stabbed to death by boyfriend Royce Moser, 18, who told investigators a "demon" took o…
Tech tries a new message: You'd love data centers if China wasn't making you hate data centers
CFTC’s Innovation Advisory Committee meeting addresses emerging prediction market risks
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Bitcoin surges above $70K as Trump backs Clarity Act, Treasury ramps up buybacks
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