Author: Jamie Carpenter

Massive Asset Transfers Reshape Russian Economic Landscape Russian authorities have confiscated approximately $50 billion in assets over the past three years, marking a sharp transformation of the country’s economy under wartime conditions. The figure, revealed by Moscow law firm NSP, highlights how the government has leveraged the Ukraine conflict to shift toward a tightly controlled, state-driven model often referred to as “fortress Russia.” Asset seizures have included both Western companies and domestic enterprises. Western brands that exited the market — including Uniper, Carlsberg, McDonald’s and Mercedes-Benz — often had their holdings either seized or forcibly sold. Meanwhile, some Russian-owned businesses…

Fresh Delegation Expected as Key Disputes Remain India is preparing to send another delegation to the United States in an effort to break the deadlock in ongoing trade negotiations, according to a senior government official. The talks come at a critical time as President Donald Trump prepares to impose sweeping new tariffs starting August 1, which could significantly affect bilateral trade flows. Recent discussions between Indian and U.S. officials ended without an agreement, as both sides remain at odds over issues such as tariffs on auto components, steel, and agricultural products. India continues to push for preferential access to U.S.…

New pilot deal aims to curb dangerous Channel crossings Britain and France have agreed to a pilot migration plan allowing the UK to send back to France a limited number of migrants who cross the English Channel in small boats. Announced in London by Prime Minister Keir Starmer and President Emmanuel Macron, the deal is seen by UK officials as a potential precedent for future returns of unauthorized arrivals. Under the agreement, set to launch within weeks, the UK will return a portion of small-boat migrants to France while simultaneously accepting an equal number of asylum seekers with valid claims.…

Airline restores 2025 profit outlook after booking rebound Delta Air Lines has reinstated its full-year 2025 profit forecast after a stronger-than-expected summer travel outlook and stabilizing bookings. The company now expects adjusted earnings of $5.25 to $6.25 per share, a revision down from the ambitious $7.35 per share projected in January, but a clear improvement over April’s uncertainty. Shares of Delta surged more than 12% following the announcement. Competitor airline stocks also rallied in anticipation of their upcoming earnings reports later this month. The airline had earlier withheld guidance due to tariff volatility and subdued consumer demand, which had disrupted…

NFIB index drops amid trade fears and excess stock concerns U.S. small-business confidence declined in June as worries over inventory levels, trade policy uncertainty, and softening sales expectations weighed on sentiment. The National Federation of Independent Business (NFIB) reported that its Small Business Optimism Index fell to 98.6, a modest drop of 0.2 points from May. The most significant driver of the decline was a sharp rise in businesses reporting excess inventory. Nearly 13% of small firms said their stock levels were too high — almost double the figure from May. Simultaneously, expectations for future sales deteriorated, with only a…

Microsoft, OpenAI, unions launch $23M education initiative A coalition of top tech firms and national teachers’ unions has unveiled a $23 million initiative to train 400,000 K-12 educators in artificial intelligence over the next five years. The National Academy of AI Instruction, announced Tuesday, brings together Microsoft, OpenAI, Anthropic, the American Federation of Teachers (AFT), and the United Federation of Teachers (UFT) in a historic education-technology partnership. Training will begin this fall through a combination of online courses, workshops, and in-person programs at a new campus in New York City. The curriculum will be designed by AI experts and educators…

New York Fed survey shows inflation expectations cooling Concerns that Donald Trump’s aggressive trade stance would spark a surge in inflation appear to have vanished, according to a new survey released Tuesday by the Federal Reserve Bank of New York. The central bank’s June Survey of Consumer Expectations showed that inflation expectations for the next 12 months remain anchored at 3%, the same level reported in January before Trump took office. This represents a 0.2 percentage point decline from May and a meaningful retreat from the March and April peak of 3.6%, when fears around blanket tariffs were at their…

Oil and gas price drops expected to weigh on earnings Exxon Mobil Corp. has signaled that its second-quarter earnings could fall by as much as $1.9 billion compared to Q1, citing weaker crude and natural gas prices. In a regulatory filing released Tuesday, the oil giant said declining energy prices are the primary drag on its performance for the period ending June 30. For context, Exxon reported $7.71 billion in profit for the first quarter. Now, it anticipates that falling liquids prices — including crude, condensate, and natural gas liquids — will shave off $800 million to $1.2 billion. Lower…

Weak currency boosts exports but raises inflation fears The U.S. dollar has plummeted more than 10% in value over the past six months, marking its steepest first-half drop since the Dollar Index was created in 1973. The decline coincides with President Donald Trump’s full rollout of his economic agenda, including sweeping tax cuts and aggressive tariffs aimed at bolstering domestic industry and exports. On Friday, Trump signed the One Big Beautiful Bill Act, a budget package that extends 2017 tax cuts and introduces new spending measures. Analysts warn the legislation could significantly inflate the national deficit, compounding existing investor concerns.…

Deal could save Oppama factory from shutdown Nissan Motor is in talks with Taiwan’s Foxconn to allow the electronics giant to use one of its Japanese factories to manufacture electric vehicles, according to two sources familiar with the discussions. The move could prevent the closure of Nissan’s Oppama plant in Yokosuka, south of Tokyo, amid ongoing global restructuring. Reuters previously reported in May that Nissan was considering shuttering the Oppama facility as part of CEO Ivan Espinosa’s plan to close seven of the company’s 17 global factories and cut its workforce by 15%. The plant currently employs around 3,900 people.…