Core Insights - The rising trend of bankruptcy filings among consumers with retail credit card debt is linked to record-high interest rates, which have reached an average of 30.45% as of September [2][3] - The proportion of bankruptcy filings that include retail credit card debt has increased at a faster rate than overall new filings, with a 12% rise in such cases compared to a 5.8% increase in total consumer bankruptcy filings between 2023 and 2024 [3] Industry Context - Retail credit cards typically have higher interest rates than traditional credit cards due to the lower credit scores of their holders, making them riskier for banks [1] - The increase in interest rates was influenced by banks anticipating regulatory changes regarding credit card late fees, which ultimately did not take effect, leading to sustained high rates [2] - The Consumer Bankers Association emphasized the role of retail credit cards in helping consumers manage expenses and build credit, while also highlighting the availability of various financial tools for consumers [4]

Core Insights - Samsung has launched the Galaxy Z Fold6, which is thinner and lighter than its predecessor, as part of its strategy to compete with Chinese rivals in the foldable smartphone market [1][4] - The importance of slim foldable designs has increased, as consumers are less willing to accept thicker and heavier devices for the benefits of a folding phone [2][6] - Chinese competitors like Honor and Oppo have successfully differentiated themselves with thinner and lighter foldable devices, prompting Samsung to enhance its offerings [3][5] Company Developments - Samsung's Galaxy Z Fold6 measures 12.1 millimeters thick and weighs 239 grams, while competitors like Oppo's Find N5 and Honor's Magic V3 are significantly thinner and lighter [3] - The upcoming launch of a new thinner version of Samsung's flagship foldable smartphone is expected to take place next month, indicating the company's commitment to improving its foldable lineup [1][4] - Honor is also set to launch its latest folding phone, the Magic V5, on July 2 in China, intensifying competition in the foldable market [4] Market Trends - The foldable smartphone market is projected to account for only 2% of the overall smartphone market this year, highlighting the challenges in consumer adoption [6] - Analysts suggest that thinner foldables may attract consumer interest and encourage a shift in preferences towards folding devices [6] - Despite advancements, there remains skepticism about the necessity of foldable devices among consumers, which could hinder market growth [7]

Google suffered a setback Thursday after an advisor to the European Union's top court recommended it dismiss the tech giant's appeal against a record 4.1-billion-euro ($4.7 billion) antitrust fine.Juliane Kokott, advocate general at the European Court of Justice, advised the court to throw out Google's appeal and confirm the fine, which was reduced in 2022 to 4.125 billion euros from 4.34 billion euros previously by the EU's General Court."In her Opinion delivered today, Advocate General Kokott proposes tha ...

Core Insights - The launch of the highly anticipated NikeSKIMS activewear line has been delayed to later this year due to internal production delays, moving away from the originally planned spring release [1] - No specific new launch date has been established yet [1] Company Relationship - The relationship between Kim Kardashian and the Nike brand remains strong, with both parties aligned on ensuring the products meet quality standards before launch [2]

Core Viewpoint - The FDA has approved Gilead's lenacapavir, a twice-yearly antiviral injection for HIV prevention, which could significantly impact global public health and help in the fight against the HIV epidemic [2][5]. Product Efficacy and Impact - Lenacapavir has shown the ability to virtually eliminate new HIV infections when administered every six months, outperforming existing daily pills and monthly injections [3][12]. - In clinical trials, the injection demonstrated a 99.9% efficacy rate, with only two infections among over 2,000 patients, proving to be 89% more effective than Gilead's daily pill Truvada [12][13]. Market Potential and Pricing - Analysts estimate lenacapavir could achieve peak sales of around $4 billion globally for both prevention and treatment [7]. - The current price for lenacapavir, under its treatment brand Sunlenca, exceeds $42,200 per year, but it could potentially be produced for as low as $26 to $40 annually [6]. Access and Distribution - Gilead plans to align the pricing of lenacapavir for HIV prevention with existing branded PrEP options, which are around $2,000 per month for daily pills [8]. - The company has licensed six generic manufacturers to produce lower-cost versions of the injection for 120 low- and lower-middle-income countries, and will supply doses for up to 2 million people at no profit before generics are available [9]. Challenges to Implementation - Proposed cuts to federal funding for HIV prevention, particularly affecting Medicaid, pose a significant threat to access for underserved populations [14][15]. - The potential reduction in funding could destabilize HIV prevention efforts and make it harder to distribute Gilead's injection effectively [16][17].

People look at iPhones at the Apple Fifth Avenue store in New York City, U.S., May 23, 2025.Apple has plans to make a folding iPhone starting next year, reliable analyst Ming-Chi Kuo said on Wednesday.Kuo said that Apple's folding phone could have a display made by Samsung Display, which is planning to produce as many as 8 million foldable panels for the device next year. However, other components haven't been finalized, including the device's hinge, Kuo wrote. He expects it to have "premium pricing."Kuo is ...

Scale AI's Interim CEO Jason Droege said in a memo on Wednesday that the artificial intelligence startup is not changing course following Meta's multibillion-dollar investment in the company last week."Unlike some other recent tech deals you might have heard about in the AI space, this is not a pivot or a winding down," Droege wrote in a post directed at customers, employees and investors.Meta has a 49% stake in Scale after its $14.3 billion investment, though the social media company will not have any voti ...

Group 1 - The U.S. Health and Human Services Secretary Robert F. Kennedy Jr. has appointed a revamped government panel of vaccine advisors, which will soon vote on the use of thimerosal, a mercury-containing preservative [2][4] - The Advisory Committee on Immunization Practices (ACIP) is scheduled to meet on June 26 to discuss thimerosal and vote on recommendations for thimerosal-containing vaccines [3][8] - The new ACIP members, many of whom are known vaccine critics, will significantly influence U.S. immunization policy, including recommendations for vaccines and insurance coverage [4][8] Group 2 - Thimerosal has been used for decades as a preservative in multi-dose vaccines but its use has declined as manufacturers have moved to single-dose packaging [5] - Some multi-dose flu vaccines still contain thimerosal, while all vaccines recommended for children aged 6 and younger are available in thimerosal-free formulations [6] - The FDA and other health organizations have stated that extensive scientific studies have found no link between thimerosal and autism, asserting that there is no evidence of harm from its use in vaccines [7]

Jeremy Allaire, CEO of Circle Internet Group, the issuer of one of the world's biggest stablecoins, and Circle co-founder Sean Neville pose outside the New York Stock Exchange (NYSE), on the day of the company's IPO in New York City, U.S., June 5, 2025.Shares of Circle and Coinbase rallied on Wednesday, as Wall Street cheered the Senate's passage of the GENIUS Act, which would establish a federal framework for U.S. dollar-pegged stablecoins. Circle, the issuer of the USDC stablecoin, rose 22% following the ...

OpenAI is winding down its work with Scale AI, the artificial intelligence startup that received a multibillion-dollar investment from Meta earlier this month and saw its founder join the social media company to lead an AI effort.Scale is best known for its work helping major tech companies, including OpenAI, prepare data they use to train cutting-edge AI models. But OpenAI has been pulling back from the startup over the last six to 12 months, according to an OpenAI spokesperson.OpenAI has been looking to w ...