Eli Lilly on Tuesday announced a $5 billion investment in a manufacturing facility in Virginia as the pharmaceutical giant looks to expand its domestic production capacity amid the threat of tariffs. The manufacturing facility is expected to generate 650 high-wage jobs and 1,800 construction jobs at the West Creek Business Park in Goochland County, Virginia. The facility will produce active pharmaceutical ingredients for cancer, autoimmune and other advanced therapies.Eli Lilly's announcement represents an ...

The Federal Reserve is expected to announce its first interest rate cut this year on Wednesday despite signs of tariffs pushing inflation higher amid rising concerns about the labor market. Policymakers on the Federal Open Market Committee (FOMC) are expected to cut the benchmark federal funds rate by 25 basis points, the first since December 2024, which would lower the target range to 4% to 4.25%.Markets have priced in a cut, with the CME FedWatch tool showing a 96% chance of a 25-basis-point cut and a 4% ...

Core Points - The Senate confirmed Stephen Miran to the Federal Reserve Board of Governors with a narrow vote of 48-47, reflecting a largely party-line decision in the Republican-controlled Senate [1] - Miran is expected to report to the Fed's headquarters as officials begin a two-day meeting to discuss the economic direction [1] - The Federal Open Market Committee is scheduled to meet on September 16 to set U.S. interest rates and broader monetary policy, which will impact borrowing costs across various sectors [2] Group 1 - Miran's confirmation follows President Trump's push for the Federal Reserve to cut interest rates, with Trump advocating for a reduction to 1% to stimulate economic growth [5][7] - Miran has committed to taking unpaid leave from his White House position while serving on the Fed's Board of Governors [6] - The Federal Reserve's current key borrowing rate is maintained within a range of 4.25% to 4.5%, with Fed Chair Jerome Powell adopting a wait-and-see approach due to ongoing trade policy impacts [9] Group 2 - The confirmation of Miran occurs amid legal challenges faced by Federal Reserve Governor Lisa Cook, who is suing Trump to retain her position on the board [12][13] - Cook's removal by Trump was based on allegations of mortgage fraud, which she denies, and a criminal investigation has been launched into her conduct [10][15] - If Trump successfully removes Cook, he will have nominated a majority of the Fed board, thereby increasing his influence over U.S. monetary policy [16]

Tesla CEO Elon Musk on Monday disclosed the purchase of about $1 billion in shares of the electric-vehicle maker in a show of confidence about the company's future. A regulatory filing disclosed that Musk bought 2.57 million shares of Tesla stock on Friday at a price between $372.37 and $396.54 per share.Musk's purchase marks the first time since early 2020 that he bought Tesla stock on the open market and comes as the company is transitioning to emphasize artificial intelligence (AI), robotaxis and robotic ...

Core Viewpoint - China has initiated an antitrust investigation against Nvidia, claiming violations related to its acquisition of Mellanox Technologies, which adds pressure on U.S.-China trade negotiations [1][8][9] Group 1: Nvidia's Antitrust Issues - The Chinese antitrust regulator is investigating Nvidia's $7 billion acquisition of Mellanox Technologies, which was approved under conditions that included ensuring chip supply to China [2][8] - Nvidia is facing scrutiny for halting the supply of its advanced chips to China due to U.S. export controls, which contradicts its earlier commitments to provide uninterrupted chip supply to Chinese customers [9][13] Group 2: U.S.-China Trade Relations - The investigation coincided with U.S. Treasury Secretary's announcement of a framework deal on TikTok, indicating ongoing trade negotiations between the two countries [5] - The U.S. government has restricted Nvidia and other American chip vendors from selling high-end AI chips to China since 2022, complicating Nvidia's position in the market [2][12] Group 3: China's Chip Industry Developments - Despite American restrictions, China is making progress in developing its own chips, although it has not yet achieved the capability to produce chips as powerful as Nvidia's [12][15] - Chinese companies like Huawei, Alibaba, and Baidu are increasingly utilizing domestically developed chips in their AI infrastructure, reflecting a push towards self-sufficiency in technology [14][15]

Disciplinary Actions by Companies - Multiple employers across the U.S. have taken disciplinary actions, including terminations, against employees who made inappropriate comments regarding the assassination of Charlie Kirk [1][4][5] - Nasdaq terminated an employee for social media posts that violated its zero-tolerance policy on violence [4] - The Broad Institute fired an employee for posting a "deeply offensive" comment about Kirk's killing [5] - Perkins Coie dismissed a lawyer for criticizing Kirk on social media, stating the comments did not reflect the firm's views [6][7] - Office Depot fired an employee after a viral video showed staff refusing to print posters for a vigil for Kirk [8][9] - The Joe Burrow Foundation terminated an advisory board member for making inappropriate remarks following Kirk's assassination [10] - MSNBC political analyst Matthew Dowd was fired after making comments about the divisive nature of Kirk's rhetoric [12] - The Carolina Panthers fired a communications department employee for social media posts questioning public mourning for Kirk [13][14] - The West Ada School District dismissed a cheerleading coach for allegedly celebrating Kirk's death in a video [16]

The U.S. and China agreed on a framework deal to allow TikTok to keep operating in the U.S. amid trade negotiations as the social media app faced being shut down as early as Wednesday without action. "The framework for a switch to a U.S.-controlled ownership," Bessent told reporters in Madrid following two days of negotiations with the Chinese delegation.President Donald Trump is planning to talk with Chinese President Xi Jinping on Friday to finalize the deal. U.S. Trade Representative Jamieson Greer said ...

Core Insights - The housing market is currently characterized as a buyer's market in seven metropolitan areas, with Miami, Orlando, and Austin having the highest months of supply, indicating increased leverage for buyers [1][10][11] Market Supply and Demand - Miami has the highest supply at 9.7 months, a 35% increase from the previous year, indicating it would take nearly 10 months to sell all listings at the current pace [2][20] - Austin follows with 7.7 months of supply, attributed to a softening buyer demand post-COVID-19 and a significant increase in for-sale homes [5][21] - Orlando has 6.9 months of supply, with a 34% year-over-year increase in inventory [8][26] Price Trends - The median list price in Miami is $510,000, down 4.7% from the previous year [4] - In Austin, the typical home price is under $500,000, reflecting a 4.8% decrease year-over-year [7] - Orlando's median listing price decreased by 3.4% to $429,473 [8] Market Characteristics - All seven buyer-friendly metros share common traits of rising inventory and slower sales, leading to increased competition among sellers [10] - The housing market is particularly weak in the South and West, especially in Florida, with notable softness in inventory and price cuts [11] Future Price Predictions - The months of supply metric is predictive of future price movements, with all seven buyer's markets experiencing year-on-year price-per-square-foot declines [13]

A growing number of individuals are facing professional consequences, from being fired or placed on administrative leave, for public comments they made in the wake of the assassination of conservative commentator Charlie Kirk.  After the 31-year-old CEO of Turning Point USA was shot and killed during an event at Utah Valley University on Wednesday, a growing list of political leaders, business figures and media outlets across the spectrum condemned the political violence. But others cited Kirk’s political v ...

Two major leaders in cryptocurrency are excited about the future of Bitcoin and are crediting President Donald Trump for fueling its recent growth. Gemini co-founders Tyler and Cameron Winklevoss, fresh off their company's debut on Nasdaq and $3 billion market cap, touted their cooperation with the Trump administration's pro-cryptocurrency posture."This administration and President Trump are obviously very pro-crypto, pro-business and pro-innovation," Cameron Winklevoss, Gemini's co-founder, said during an ...