Trump firm plans to sell priority access to Truth Social posts, possibly his own
NEW YORK (AP) — President Donald Trump’s media company is planning to charge for special high-speed access to Truth Social posts, including possibly his own affecting national security and financial markets. The move announced Thursday would allow Wall Street trading firms and other institutions to get news from Truth Social contributors in milliseconds so they can make quick profits off moves in stocks, bonds and interest rates. Called Truth PSI, it would be similar to paid access at other platforms with the difference that the most popular poster is the president himself. The company did not immediately respond to a request for comment about whether this is profiting off his office.
Trump administration races the clock to rebuild US tariff wall knocked down by Supreme Court
WASHINGTON (AP) — The U.S. Treasury last year swelled with revenue from President Donald Trump’s double-digit taxes on imports from almost every country on earth. But the money dried up after the Supreme Court struck down the biggest and boldest of Trump’s tariffs in February. The question now is: Can the president’s trade team make good on its promise to replace the lost revenue? A July 24 deadline is approaching rapidly. But trade attorneys and analysts are confident the tariff-happy Trump administration will manage to beat the clock. “They’re going to raise the tariff wall again,’’ said one trade lawyer.
US investigators lead probe into Ryanair flight where man was partly sucked out of broken window
U.S. aviation safety investigators have taken over the investigation into what caused a window to dislodge on a Ryanair flight from Greece to Germany on July 10. A man was partially sucked out of the plane before his wife and other passengers pulled him back inside. The National Transportation Safety Board says Thursday that the incident happened in Greek airspace, not over North Macedonia as initially believed. International aviation rules allow Greece’s safety authority to hand the investigation to the NTSB. The U.S. federal agency is now leading the probe with Greece participating. The flight was headed from Thessaloniki to Memmingen.
Retail sales up just 0.2% in June, but excluding business at the gas pump, shoppers are resilient
NEW YORK (AP) — Shoppers slowed their spending in June from May, but excluding business at the gas pump, shoppers showed resilience despite economic uncertainty as they bought cars and took advantage of summer sales events. Retail sales rose 0.2% in June, after being up a revised 1% in May, according to the Commerce Department’s report released on Thursday. But outside of gas stations, retail sales rose a robust 0.7%. The government figures are not adjusted for inflation so last month’s decline in gas prices pulled down the overall figure.
Warren Buffett explains why his kids, not the Gates Foundation, will now give away all his fortune
OMAHA, Neb. (AP) — Billionaire Warren Buffett says his decision to cut the Gates Foundation out of his charitable giving is more about believing his three kids are ready to handle giving away his entire fortune than it is about Bill Gates’ ties to convicted sex offender Jeffrey Epstein. Buffett told CNBC Wednesday that Gates’ association with Epstein is “distasteful,” but the 95-year-old investor suggested that Gates’ actions weren’t much different from mistakes he had made over the years in hiring the wrong person or choosing his friends. Buffett says no one has a perfect record in judging people.
US imposing a 25% tariff on some Brazilian imports starting July 22, citing unfair trade practices
WASHINGTON (AP) — The United States is imposing 25% tariffs on imports from Brazil after finding a range of what it deemed unfair trade practices by the world’s 10th-biggest economy. The tariffs, which were first proposed last month, will take effect July 22. The order exempts some goods that are not produced in the U.S. or that officials worry would disrupt supply chains. Exempted products include coffee, beef, oranges and orange juice, some oil and gas energy products and aerospace parts and components.
Average 30-year US mortgage rate climbs to 6.55%, highest level in nearly a year
The average long-term U.S. mortgage rate climbed this week to its highest level in nearly a year, driving up borrowing costs for prospective homebuyers. Mortgage buyer Freddie Mac said Thursday that the benchmark 30-year fixed rate mortgage rate rose to 6.55% from 6.49% last week. One year ago, the average rate was 6.75%. Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also rose this week. Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation.
Trump’s teleprompter operator on unpaid leave for alleged prediction market bets on Trump speeches
ATLANTA (AP) — The White House says President Donald Trump’s teleprompter operator is on unpaid leave after reports that he used his inside knowledge to make bets about the president’s speeches on the online prediction market Kalshi. The firm’s enforcement chief said Kalshi contacted federal regulators about bets allegedly made about what Trump would say in speeches. ABC News first reported Thursday that Gabriel Perez used his inside knowledge to win more than $100,000 betting on what the president would say in addresses like the State of the Union speech earlier this year. Perez has been operating Trump’s teleprompter since 2016.
Fed probe suggests Tesla’s self-driving feature wasn’t to blame in crash that killed a grandmother
NEW YORK (AP) — Federal safety investigators say the driver of a runaway Tesla that killed a grandmother in her home last month had pressed the accelerator to full speed, suggesting the vehicle’s self-driving software was not to blame. The National Transportation Safety Board concluded Wednesday that the driver had overridden that feature by pressing on the pedal before slamming into the Katy, Texas, home and killing a 76-year-old woman in the front room. The crash drew national attention because Tesla CEO Elon Musk is seeking to assure the public its self-driving feature is safe as he prepares to turn Teslas already on the road into fully automatic vehicles.
Netflix posts higher Q2 results but shares drop due to lukewarm forecast
Netflix said Thursday its second-quarter profit grew thanks to new membership signups and price increases. But the company’s shares declined sharply in after-hours trading as the video streaming company’s forecast for the current quarter fell below Wall Street’s expectations. Netflix earned $3.4 billion, or 80 cents per share, in the March-June period. That’s up 9% from $3.13 billion, or 72 cents per share, in the same period a year earlier.
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