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Fed Budget at a Crossroads as 2024 CR Nears Expiration

Republicans Are Forcing A Government Shutdown And Trump Will Be Blamed– www.politicususa.com
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The White House thinks that the current government funding debate can be won just like the last one was in March. They believe that nothing has changed, and they can pass a bill to keep the government open by putting Senate Democrats up against a deadline with no negotiations.

The political climate has changed.

The White House doesn’t see it, which is why Trump and his party are about to step on the rake and smack themselves in the face with a government shutdown.

Punchbowl News reported:

The House Republican leadership plans to put a bill on the floor this week to keep the federal government open through Nov. 20, a strategy aimed at giving appropriators another seven weeks to hash out a broader spending deal for the FY2026 bills.

Republicans are saying the CR will be “clean” — free of partisan policy riders.

But as we’ve reported, the GOP proposal doesn’t include any of the Democrats’ demands. Senate Minority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries have said they can’t vote for any CR unless it includes health care-related provisions.

It’s not clear if Democrats are demanding that Republicans renew enhanced premium subsidies for Obamacare or restore OBBB Medicaid cuts. Rather, Schumer and Jeffries have simply called on Republicans to negotiate.

House of Representatives | Definition, History, & Facts | Britannica

House GOP leaders move to extend block on tariff termination votes– www.politico.com
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House Republican leaders are moving to again head off votes trying to cancel much of President Donald Trump’s sweeping tariff regime.

A procedural measure Republicans on the Rules Committee advanced Monday night would extend until March 31 a block on efforts by Democrats and several Republicans to end the national emergencies underlying Trump’s sweeping tariffs — including on Mexico, Canada, Brazil and his “liberation day” levies from April.

It would also block “resolutions of inquiry,” measures that can be used by the House to compel the release of information from the executive branch.

The House is set to vote Tuesday on the measure, which also tees up several D.C. crime- and governance-related bills for floor debate.

GOP leaders have struggled to keep their ranks in line on tariff-related votes. On Monday, their bid to strangle a Democratic-led effort to end Trump’s Brazil levies succeeded only narrowly, 200-198.

TikTok ‘framework’ deal overshadows U.S.-China trade talks– www.cnbc.com
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U.S. and Chinese trade negotiations concluded in Spain Monday, after two days of talks on several sticking points ranging from tariff rates, export controls and the imminent deadline for a divestment of Chinese-owned TikTok.

Talks on trade were overshadowed by a “framework” deal regarding the social media platform, announced by Treasury Secretary Scott Bessent Monday.

“It’s between two private parties, but the commercial terms have been agreed upon,” he said from U.S.-China talks in Madrid. Both President Donald Trump and Chinese President Xi Jinping will speak on Friday to discuss the terms.

The news comes ahead of a Wednesday deadline to either divest TikTok’s U.S. business or shut down the social media app in the country.

Bessent led negotiations alongside Trade Representative Jamieson Greer on the U.S. side, with the Chinese represented by Vice Premier He Lifeng and top trade negotiator Li Chenggang.

Trump Teases China-TikTok Deal

Trump Teases China-TikTok Deal

Trump signals deal on trade and TikTok made with China– www.washingtonexaminer.com
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President Donald Trump teased on Monday that a deal has been made with China regarding trade and the future of TikTok.

“The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly,” Trump wrote on Truth Social.

“A deal was also reached on a ‘certain’ company that young people in our Country very much wanted to save,” he said, referring to TikTok. “They will be very happy!”

TikTok was set to be inaccessible to American users in January, but Trump delayed the start date of the ban’s enactment to find an American buyer for the social media platform. China’s ByteDance owns the app, which poses national security concerns for the United States.

After months of negotiations and setbacks, Treasury Secretary Scott Bessent said the U.S. and China are “very close” to finalizing a deal on TikTok.

“We made very good progress on the technical details of the agreement. In terms of the overall agreement itself, our Chinese counterparts have come with a very aggressive ask,” he told reporters in Madrid, Spain, on the second day of talks. “We will see if we can get there. At present, we are not willing to sacrifice our national security for a social media app.”

DEI-Driven Medical Schools are Wrecking Standards, Study Reveals

DEI-Driven Medical Schools are Wrecking Standards, Study Reveals

Report outlines DEI impact on US medical schools – The North State Journal
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A new report issued by the James G. Martin Center outlines how diversity, equity and inclusion at medical schools in the United States compromises “academic standards, undermine merit-based admissions and hiring, and jeopardize public health outcomes.”

“Medical education must prioritize competence, not ideology,” Jenna A. Robinson, James G. Martin Center president said in a press release. “This report reveals the extent to which DEI policies are weakening the physician pipeline at a time when Americans need highly skilled, well-trained doctors.”

Authored by Martin Center Senior Fellow Jay Schalin, the report, “An End to Excellence: How Diversity, Equity, and Inclusion Undermine Our Medical Schools,” looked at the 10 top-ranked American medical schools with respect to diversity, equity and inclusion (DEI) programs and policies.

The schools in the report include Harvard Medical School, Johns Hopkins University School of Medicine, University of California at San Francisco School of Medicine, University of Michigan Medical School, Stanford University School of Medicine, University of Washington School of Medicine, Perelman School of Medicine at the University of Pennsylvania, Yale School of Medicine, David Geffen School of Medicine at the University of California at Los Angeles and Weill Cornell Medicine.

Schalin’s report examines how DEI policies, described as an aggressive extension of affirmative action, have eroded meritocracy in the nation’s medical schools by prioritizing race, gender and ideologies in areas like admissions, faculty hiring, curricula and student programs, potentially leading to less competent physicians and compromised health care.

Trump to sign nuclear energy deal with UK– www.washingtonexaminer.com
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LONDON — The United States will finalize a new nuclear energy agreement with British leaders during President Donald Trump‘s state visit to the United Kingdom this week.

Trump will touch down in London on Tuesday before spending Wednesday at Windsor Castle with King Charles III, capped by a lavish state banquet in the evening.

The nuclear agreement itself, which British government officials said “will turbocharge the build-out of new nuclear power stations in both countries and clear the way for a major expansion of new nuclear projects in the U.K.,” will be signed on Thursday during a slate of bilateral meetings between Trump and British Prime Minister Keir Starmer.

“This landmark UK-US nuclear partnership is not just about powering our homes, it’s about powering our economy, our communities, and our ambition. These major commitments set us well on course to a golden age of nuclear that will drive down household bills in the long run, while delivering thousands of good jobs in the short term,” Starmer said in a statement to the Washington Examiner. “Together with the US, we’re building a golden age of nuclear that puts both countries at the forefront of global innovation and investment.”

Trump’s energy secretary, Chris Wright, said the administration is “ushering in a true nuclear renaissance — harnessing the power of commercial nuclear to meet rising energy demand and fuel the AI revolution.”

Interior Secretary Doug Burgum added, “Strengthened nuclear cooperation with the UK reinforces our unshakable commitment to technological leadership, global security and the responsible stewardship of nuclear power. This is how we unleash the full power of American Energy Dominance — with innovation, strength, and key geopolitical collaboration.”

Elon Musk’s xAI lays off 500 in overnight restructuring of Grok training workforce– www.techspot.com
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Business Insider obtained an internal email informing workers that the firm plans to prioritize “specialist AI tutors” over generalist roles and will immediately eliminate most general tutoring positions. The company told employees that it would honor their contracts through either November 30 or their previously agreed-upon end dates, but it…

Elon Musk Predicts AI to Surpass Human Intelligence by 2026, Humanity by 2030 – WebProNews

Elon Musk Predicts AI to Surpass Human Intelligence by 2026, Humanity by 2030 – WebProNews
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Elon Musk predicts AI will exceed any single human’s intelligence by 2026 and all humanity’s by 2030, adjusting from earlier timelines due to power and chip shortages. While hyping ventures like xAI and Tesla, his claims spark debates on feasibility, risks, and transformative societal impacts. Skeptics highlight current AI limitations in creativity and ethics.

‘100% tariff’: US official says Trump proposed higher duties on Russian oil buyers India, China in EU talks – Report– timesofindia.indiatimes.com
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United States is considering expanding tariffs on countries that buy Russian oil, including India, but only if the European Union takes similar steps, a US official told news agency AFP on Tuesday. According to the report, dialling in to talks between US and EU officials, president Donald Trump suggested tariffs of between 50 and 100 per cent on buyers such as China and India.“The source of the money for the Russian war machine is oil purchases by China and India. If you do not get at the source of the money, there’s no way to stop the war machine,” the official said as quoted. Trump, the official added, is “ready to go” but wants the EU to act alongside the US.The discussions in Washington reportedly were led by EU sanctions envoy David O’Sullivan, with US treasury secretary Scott Bessent and officials from the state department and the US trade representative also taking part. Ukraine’s prime minister joined the session, while Trump made his intervention remotely, said the official.
Cracker Barrel Halts Store Redo

Cracker Barrel Suspends Restaurant Remodels, Keeps Americana Style– www.breitbart.com
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After pledging to restore its “Old Timer” logo, Cracker Barrel announced Tuesday it will suspend its restaurant remodel program in response to customer concerns over modernization plans.

Cracker Barrel Old Country Store said in a statement on Tuesday that it will halt remodels of its restaurants and maintain its traditional branding in response to widespread customer feedback. The company revealed the update in a post on X and on its website, noting that guests had voiced opposition to both the new logo design and changes to store interiors.

“We’re continuing to listen. Today, we’re suspending our remodels. If your restaurant hasn’t been remodeled, you don’t need to worry, it won’t be,” the company wrote. “With our recent announcement that our ‘Old Timer’ logo will remain, along with our bigger focus in the kitchen and on your plate, we hope that today’s step reinforces that we hear you.”

The company added that while it tested a modernized interior design in only four of its 660 locations, the plan will not move forward. Cracker Barrel reaffirmed its commitment to its signature “vintage Americana” atmosphere, including rocking chairs on porches, fireplaces, peg games, and antiques sourced from its Lebanon, Tennessee, warehouse.

Cracker Barrel also emphasized that the “Old Timer” logo, featuring the well-known character Uncle Herschel, would remain on road signs, menus, and in stores. The chain recently restored “Uncle Herschel’s Favorite Breakfast Platter” to its menu, pointing to customer demand for tradition.

The decision comes after weeks of backlash to Cracker Barrel’s rebranding efforts, which included a redesigned logo that omitted the classic illustration. The logo change was part of a broader $700 million modernization plan led by CEO Julie Felss Masino, which also included updated restaurant interiors and menu changes.

Company cofounder Tommy Lowe criticized the redesign in late August, calling the new logo “pitiful” and urging leadership to “keep it country.” The uproar intensified after Cracker Barrel’s stock price dropped more than 12 percent following the rollout of the new design.

President Donald Trump also weighed in, encouraging the company to revert to its classic branding. Trump congratulated Cracker Barrel after the reversal, saying the move could help restore customer loyalty.

In its Tuesday statement, Cracker Barrel reiterated its long-standing values, first established when the company opened in 1969: “hard work, family, and scratch-cooked food made with care.” The company stressed that while it may experiment with new platforms and menu items, the heritage and country hospitality that defined the brand would remain central.

“Our 70,000 hard-working team members look forward to welcoming you for breakfast, lunch or dinner soon,” the company expressed.

Did Americans Lose in Bid to Protect them Against Big Pharma?

Did Americans Lose in Bid to Protect them Against Big Pharma?Protecting intellectual property rights in the pharmaceutical industry just got harder– www.americanthinker.com
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GLP-1 drugs are having a major impact on the pharmaceutical industry. This class of drugs, which includes Ozempic, were used primarily to treat type 2 diabetes; the discovery that a side effect is appetite suppression led to their use in weight management. The demand for these drugs has exploded and is projected to continue to grow at a rapid pace in coming years.

Eli Lilly and Novo Nordisk hold multiple patents for different GLP-1 drugs. In recent years they could not produce enough of the drugs to meet demand. The Food and Drug Administration (FDA) approved production of the drugs by chemical compounders to meet the demand. The FDA recently determined that a shortage of the drugs no longer exists and lifted that approval. The drug compounders have filed suit against the FDA to allow them to continue producing the drugs.

The patents for GLP-1 drugs held by Ely Lilly and Novo Nordisk are set to expire in different countries in coming years. In China alone, more than a dozen companies are developing generic versions of the drugs. As pharmaceutical firms in China and other countries bring generics to the market, competition is becoming fierce. Meanwhile generic producers of the drugs are challenging the patent rights held by these companies.

Thus far Ely Lilly and Novo Nordisk have been successful in protecting their multiple patent rights for GLP-1 drugs through the legal system. For example, Novo Nordisk recently reached a legal settlement with producers of generic GLP-1 drugs that resolved their patent dispute. While details of the settlement are not available, they likely include entry dates for bringing generics to the market, and royalty agreements that are standard in settling patent disputes. Resolving patent disputes through the legal system provides the fundamental protection of intellectual property rights in the pharmaceutical industry, but that is about to change.

One of the most serious challenges to pharmaceutical companies in protecting their patent rights is contained in legislation being considered by Congress. The Ethic Act S.2276 would bar pharmaceutical firms from litigating more than one patent in a defined group in patent disputes. Proponents claim that the Act would increase competition in the pharmaceutical industry. In fact, it will have the opposite impact. The Act ignores the complexity of GLP-1 drugs that have multiple uses requiring multiple patents and will seriously handicap Ely Lilly and Novo Nordisk in patent disputes. While Ely Lilly and Novo Nordisk have a competitive advantage as the innovators in producing GLP-1 drugs, we should expect more patent disputes as China and other countries bring generics to this fiercely competitive market.

The Ethic Act ignores the success that pharmaceutical firms have had in resolving patent disputes through the legal system. Ely Lilly and Novo Nordisk have resolved patent disputes regarding GLP-1 drugs through the legal system, but the Ethic Act undermines their ability to protect those patent rights. Asking these firms to defend only one patent ad seriatim in a defined group of drugs in which they have multiple patents is like sending a boxer into the ring with one hand tied behind his back.

 

Economy Falters in Latest Jobs Report

Economy Falters in Latest Jobs Report

JPMorgan CEO Jamie Dimon says the economy ‘is weakening’– www.cnbc.com
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JPMorgan Chase CEO Jamie Dimon said that a Labor Department report released Tuesday confirmed that the U.S. economy is slowing down.

The department revised lower its nonfarm payrolls data for the year through March 2025 by 911,000 jobs from initial estimates. That was on the high side of Wall Street’s expectations for a downward shift and the biggest revision in more than two decades.

“I think the economy is weakening,” Dimon said. “Whether it’s on the way to recession or just weakening, I don’t know.”

The revision, showing the world’s largest economy produced far fewer jobs than thought, follows a report indicating employment growth had slowed to a near halt in July, adding just 73,000 jobs. President Donald Trump fired the Bureau of Labor Statistics commissioner last month hours after the release of that report.

Israel’s forex reserves hit new record– en.globes.co.il
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Israel’s foreign exchange reserves at the end of August 2025 rose to $230.321 billion – a new record – an increase of $3.553 billion from their level at the end of July, the Bank of Israel reports. The level of the reserves relative to GDP at the end of July was 41%.

 

The increase was the result of a revaluation that increased the reserves by about $3.759 billion, partly offset by foreign exchange activities by the government totaling about $209 million.

 

Trump fails in bid to fire Lisa Cook as Federal Reserve independence clings on– fortune.com
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A federal court ruled Tuesday that embattled Federal Reserve Governor Lisa Cook can remain in her position while she fights President Donald Trump’s efforts to fire her.

The ruling, which will almost certainly be appealed, is a blow to the Trump administration’s efforts to assert more control over the traditionally independent Fed, which sets short-term interest rates to achieve its congressionally mandated goals of stable prices and maximum employment. Congress has also sought to insulate the Fed from day-to-day politics.

Trump said he was firing Cook on Aug. 25 over allegations raised by one of his appointees that she committed mortgage fraud related to two properties she purchased in 2021, before she joined the Fed. Cook is accused of saying two properties were “primary residences,” which could have resulted in lower down payments and mortgage rates than if either was designated a second home or investment property.

Cook’s lawyers argued that firing her was unlawful because presidents can only fire Fed governors “for cause,” which has typically meant inefficiency, neglect of duty or malfeasance while in office. They also said she was entitled to a hearing and a chance to respond to the charges before being fired, but was not provided either. Her lawsuit denied the charges but did not provide more details.