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 ...

Core Viewpoint - The ongoing conflict between United Airlines and Spirit Airlines highlights the challenges faced by ultra-low-cost carriers (ULCC), with United's CEO predicting Spirit's imminent failure due to its business model and customer dissatisfaction [1][2][4]. Group 1: United Airlines' Position - United Airlines CEO Scott Kirby asserts that Spirit Airlines operates a fundamentally broken business model, claiming that consumer preference indicates a lack of support for Spirit's offerings [2][4]. - Kirby expressed confidence in his prediction of Spirit's failure, attributing it to his analytical skills [2]. - United Airlines plans to capitalize on potential route opportunities if Spirit goes out of business, announcing new routes to 15 cities starting January 6, 2026 [8][9]. Group 2: Spirit Airlines' Response - Spirit Airlines countered Kirby's claims by emphasizing customer satisfaction with their low fares and new service options, suggesting that United's focus on them indicates their competitive relevance [5][11]. - The airline has recently announced the discontinuation of several routes, including cities like Albuquerque and San Diego, effective the week of October 2 [7]. - Spirit's leadership maintains that the airline is focused on competition and operational excellence, despite the challenges it faces [11].

Core Insights - Gemini, a crypto exchange founded by Tyler and Cameron Winklevoss, raised $425 million in an IPO, pricing shares at $28, resulting in a market cap of approximately $3 billion [1] - The platform aims to simplify and secure the buying, selling, storing, staking, and collecting of digital assets, joining other publicly traded exchanges like Coinbase and Bullish [2] - The IPO reflects a revival of the crypto industry in the U.S., supported by the GENIUS Act signed under President Trump, which aims to position the U.S. as the crypto capital of the world [3] Company Performance - As of July, Gemini processed about $21 billion in assets with a trading volume of $285 billion, but reported losses of $285.2 million through June [9] - Despite current losses, the company believes in significant future growth potential as the cryptoeconomy is expected to be adopted by billions globally [9] Market Context - Bitcoin has increased by 22.5% this year, reaching a new record above $115,000, while Ethereum is up nearly 32% [6][10] - The S&P 500 has risen by 12% in comparison, indicating a strong performance in the crypto market relative to traditional equities [10] Ownership and Control - Tyler and Cameron Winklevoss will retain 94.7% of the voting power of common stock post-IPO, with their combined worth estimated at $14 billion [7]

Federal Budget Deficit Overview - The federal government's budget deficit reached $2 trillion for the current fiscal year, widening by nearly $100 billion from last year [1] - The Congressional Budget Office (CBO) reported a deficit of $1.989 trillion in the first 11 months of fiscal year 2025, marking a $92 billion increase compared to the same period in fiscal year 2024 [1][12] Federal Spending and Revenue - Federal spending increased by $391 billion, or 5%, from a year ago, while tax receipts rose by $299 billion, or 7%, in the first 11 months of fiscal year 2025 [2] - Customs duties collected increased by $95 billion, or 137%, totaling $165 billion for the first 11 months of fiscal year 2025 [5] - Individual income tax receipts rose by $181 billion, or 8%, totaling $2.357 trillion so far in fiscal year 2025 [5] Major Spending Drivers - The federal government spent $6.7 trillion in the first 11 months of fiscal year 2025, with significant increases driven by mandatory spending programs like Social Security and Medicare, as well as rising debt service costs [8] - Social Security payments increased by $111 billion, or 8%, due to higher benefit payments and a growing number of beneficiaries [9] - Medicare spending also rose by 8%, totaling $64 billion higher than the same period last year [9] Interest Expenses and Debt - Interest expenses on the national debt rose by $72 billion, or 8%, contributing to the wider budget deficit [10] - The national debt surpassed $37 trillion, with taxpayers now responsible for over $37 trillion in liabilities [6][10] Monthly Budget Performance - In August, the federal government recorded a $360 billion budget deficit, a decrease of $20 billion from the previous year [11] - The CBO anticipates a final budget deficit of $1.9 trillion for fiscal year 2025, which would be the third-largest in U.S. history [12]

JPMorgan Chase CEO Jamie Dimon is urging caution about the outlook for the U.S. economy amid persistent uncertainty over the impact of tariffs as well as geopolitical headwinds. "I think you better be careful on that one [on the economic impact on the U.S.], because some of these things have long cycles. So we don't know yet. People are expecting these things to happen right away. But actually, a lot of them haven't happened," Dimon said in an interview on the "Office Hours: Business Edition" podcast releas ...

Inflation rose in August and remained well above the Federal Reserve's target rate as central bank policymakers weigh potential interest rate cuts at their meeting next week. The Bureau of Labor Statistics on Thursday said that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.4% in August compared with last month, while it rose to 2.9% on a year-over-year basis. The monthly figure was hotter than the estimate of economists polled by ...

Group 1 - Klarna achieved a valuation of $19.5 billion after going public, with shares rising over 30% following an initial public offering that raised $1.37 billion [1] - The stock opened at $52 per share, exceeding the expected pricing of $40 [1] - The CEO highlighted a growing demand in the U.S. for alternatives to credit cards, as consumers seek better products due to dissatisfaction with high interest rates [2][3] Group 2 - A study indicated that 20% of American households are financially stable but view credit cards negatively, preferring fixed installment products [2] - Klarna's Visa-powered debit card has a waiting list of 5 million people, which could position the company as one of the larger card issuers in the U.S. [5] - The company offers merchants an alternative to high credit card processing fees, which can help increase their sales by providing consumers with 0% interest installment options [6]

President Donald Trump on Wednesday appealed a federal judge’s order blocking him from firing Federal Reserve Governor Lisa Cook, the latest twist in a high-stakes lawsuit that could be headed to the Supreme Court. The notice of the appeal to the U.S. Court of Appeals for the D.C. Circuit was brief. The administration's next steps could include seeking an emergency pause to Cobb's order while the lawsuit proceeds.In a statement to Fox News Digital, White House spokesperson Kush Desai defended Trump’s decisi ...

On Tuesday, the Bureau of Labor Statistics (BLS) published a revision of its latest job numbers, a report that shows just how far off its estimates of overall employment were from reality.   The latest data just confirms what many already suspected—that the situation is worse than we thought. There’s something incredibly wrong at BLS, and for the sake of our economy, it’s time to fix it.   From March 2024 to March 2025—a period mostly covering the final year of the Biden administration — BLS overestimated j ...