Author: Jack Mulligan

Quarterly Miss Spurs Stock Drop Amid Medicaid Concerns Shares of Elevance fell over 11% on Thursday after the health insurer missed Wall Street earnings estimates and sharply reduced its annual profit forecast. The company cited rising medical costs in both Medicaid and Affordable Care Act (ACA) plans as key pressures, joining other major insurers in sounding the alarm over elevated healthcare spending in government-backed programs. Elevance now expects full-year adjusted earnings of about $30 per share, down from its previous guidance of $34.15 to $34.85. The miss and forecast revision reflect continued headwinds as the company navigates unpredictable reimbursement structures…

Strategic Shift Away from Hydrogen Technology Stellantis has officially terminated its hydrogen fuel cell development initiative, citing a combination of insufficient refueling infrastructure, high investment requirements, and weak consumer incentives. The company had previously planned to begin serial production of its hydrogen-powered Pro One vans this summer, but the program will now be discontinued. The medium-sized vans were set to be manufactured in Hordain, France, and the large vans in Gliwice, Poland. These plans have now been canceled as the automaker reevaluates its strategy in response to economic and regulatory pressures. The decision reflects Stellantis’ reassessment of hydrogen’s commercial viability…

Violence in Suwayda Sparks Regional Tension The southern Syrian city of Suwayda has become the epicenter of renewed sectarian violence, with dozens of casualties reported after armed confrontations erupted between Druze militias and Bedouin tribes. The Syrian military intervened to regain control, intensifying the conflict and drawing in external actors. This intervention prompted Israeli airstrikes on Syrian government forces advancing toward Suwayda, further escalating the situation. The airstrikes targeted critical infrastructure and signaled a broader military engagement in response to the internal Syrian conflict. The fighting has reignited fears among the Druze minority of marginalization and violence. Their demands for…

Massive Investment Targets U.S. Electric Grid and Hydropower Google will invest $25 billion over the next two years in data center and artificial intelligence infrastructure across states served by the nation’s largest electric grid, the company announced Tuesday. The tech giant is also committing $3 billion to modernize two hydroelectric power plants in Pennsylvania, a move aimed at securing clean energy for its expanding AI operations. The investments will take place within the PJM Interconnection, which spans 13 states in the mid-Atlantic, Midwest, and South, including the highly concentrated data center region of northern Virginia. PJM has been under increasing…

June CPI Hits 2.7% Amid Growing Price Pressures Consumer prices increased by 0.3% in June, bringing the annual inflation rate to 2.7%, the highest level since February, according to data from the Bureau of Labor Statistics. The core inflation rate, which excludes food and energy, rose 0.2% on the month, pushing the year-over-year figure to 2.9%. These numbers align with economists’ expectations, but remain above the Federal Reserve’s 2% target. The uptick in inflation arrives as President Donald Trump’s tariff policies start to affect the broader economy. Though the direct impact of tariffs on prices is difficult to isolate, categories…

Deal Secures IP, Talent and Brand After Leadership Exodus Artificial intelligence startup Cognition has acquired Windsurf, the AI coding company that recently lost its CEO and top talent to Google. The acquisition includes Windsurf’s intellectual property, brand, product, trademark and remaining workforce. While terms were not disclosed, the move marks another escalation in the ongoing talent war gripping the AI sector. The acquisition comes just days after Windsurf co-founder and CEO Varun Mohan joined Google, following the collapse of a reported $3 billion acquisition deal with OpenAI earlier this year. Google confirmed it would pay $2.4 billion in licensing and…

Opposition Gains Could Stall Rate Normalization Japan’s central bank may face increasing political pressure to keep interest rates near zero, as opposition parties campaigning on tax cuts and looser monetary policy are expected to gain ground in the July 20 election. Polls suggest that Prime Minister Shigeru Ishiba’s ruling coalition could lose its majority in the upper house, further complicating the government’s already fragile hold on power. With the governing bloc already a minority in the lower house, a legislative gridlock could hand smaller parties more leverage in fiscal and monetary policy debates. Many of these parties favor continued low…

Comfort Threshold Rises to $839,000 in 2025 Americans now believe it takes significantly more money to feel financially comfortable. According to Charles Schwab’s 2025 Modern Wealth Survey, the average figure cited to achieve comfort is $839,000 — up from $778,000 just a year ago. When asked what it takes to be considered “wealthy,” respondents put the number at $2.3 million, a notable jump from $1.9 million in 2021. The rising figures reflect growing concern over the cost of living, high interest rates, and an increasingly uncertain economy. Nearly two-thirds of survey participants said they feel it takes “quite a bit…

Deal Marks End of Walgreens as Public Company Shareholders of Walgreens Boots Alliance have approved a $10 billion acquisition offer from private equity firm Sycamore Partners, marking a major turning point for the 123-year-old drugstore chain. Under the terms of the agreement, Walgreens shareholders will receive $11.45 per share, with the potential for an additional $3 per share tied to the future monetization of the company’s stake in VillageMD. The deal, originally announced in March, will take Walgreens private for the first time since 1927. CEO Tim Wentworth said the partnership with Sycamore will allow the company to implement its…

Central bank expected to lower benchmark rate to 4.75% Chile’s central bank is widely anticipated to reduce its benchmark interest rate by 25 basis points to 4.75% at its upcoming monetary policy meeting on July 28, according to a poll of analysts released Thursday. The expected cut would continue the bank’s ongoing easing cycle aimed at supporting economic activity as inflation begins to moderate. Traders and economists surveyed by the central bank project that the easing trend will persist through the end of the year, with the policy rate forecast to fall to 4.5% within the next five months. The…