Trump filing shows he took in about $1.2 billion from crypto businesses last year
NEW YORK (AP) — President Donald Trump took in nearly $1.2 billion dollars from his crypto businesses last year, a federal filing released Tuesday shows. Trump got more than $500 million from his World Liberty Financial business selling new crypto products, including “governance tokens,” while another crypto business, CIC Digital LLC, took in more than $600 million from sales of souvenir-type “meme” coins. The mainstay real estate business also boomed last year. The 927-page disclosure form paints a stark, if incomplete picture of the massive growth of the president’s wealth since taking office last January through a web of business interests.
Asian shares trade mixed as worries over Iran-US deal remain
TOKYO (AP) — Asian shares are trading mixed, as uncertainty remained about the war in Iran and access to the crucial Strait of Hormuz despite an initial U.S.-Iran deal. Benchmarks rose in early Wednesday trading in Tokyo, and Shanghai but fell in Sydney and Seoul. Trading was closed in Hong Kong. Although oil prices have subsided from the surge that immediately followed the war in Iran, traffic in the strait has yet to resume to prewar levels. On Wall Street, stocks are trimming their losses from a rocky June. Stocks in the artificial-intelligence industry held firmer following sharp swings earlier in the month on worries they’d grown too expensive.
Egg producers will pay $3.3M and donate 53 million eggs to settle price fixing claims
NEW YORK (AP) — The U.S. Justice Department and 17 states have reached settlement agreements with three major egg producers over allegations of that the companies illegally colluded in a multiyear scheme to raises prices. The companies — Cal-Maine Foods, Versova, and Hickman's Egg Ranch — are accused of colluding between June 2022 and March 2025 to inflate egg prices. To resolve the states' claims, the settlements require the companies to collectively pay $3.3 million and donate 53 million eggs. They must also adopt antitrust compliance programs and stop communicating with competitors about pricing. The settlements still require court approval. Critics criticized the terms, saying they're too lenient.
Federal board offers $3B settlement to restructure Puerto Rico power company debt
SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances says it has offered a $3 billion settlement to bondholders in a new push to finally restructure more than $10 billion in debt held by the U.S. territory’s power company. The board is proposing paying cash and offering the issuance of new bonds to bondholders that have not settled and are seeking some $8.5 billion in claims. The proposed settlement represents $1.4 billion more than previously offered. Puerto Rico’s Electric Power Authority has been trying to restructure its debt for roughly a decade.
Job openings stayed at a surprisingly strong 7.6 million in May; U.S. labor market proves resilient
WASHINGTON (AP) — U.S. job openings stayed at a surprisingly strong 7.6 million in May as the American labor market remains resilient in the face of the economic shock from the Iran war. Forecasters had expected employers to post just 7 million openings in May. Layoffs rose, and the number of people quitting their jobs — a sign of confidence in their prospects — ticked up only slightly.
Consumer confidence ticks up as gas prices fall but Americans remain gloomy about the economy
WASHINGTON (AP) — Americans’ attitudes toward the economy improved slightly this month as gas prices declined, but their outlook is still mostly negative by historical standards. The Conference Board said Tuesday that its consumer confidence index rose 0.6 point to 91.2 in June, a figure that is still below the year-ago reading of 95.2. Consumer attitudes worsened after the Iran war caused oil and gas prices to spike, accelerating inflation and causing Americans’ inflation-adjusted incomes to decline. Before the pandemic, the index regularly topped 120.
OpenAI film 'Artificial,' dropped by Amazon, finds a new home with Neon
NEW YORK (AP) — “Artificial,” Luca Guadagnino’s starry film about Sam Altman and OpenAI, has been acquired by the indie distributor Neon after it was dropped by Amazon MGM Studios. Neon said Tuesday that it bought the film following a bidding process. Amazon dropped the nearly complete $40 million film, starring Andrew Garfield as Altman, earlier this month, a surprise move that came just months after Amazon announced a $50 billion investment in OpenAI. Amazon said then that “Artificial” would “be better served if it were released by a different studio.” Neon said it will release “Artificial” this year and “compete in this year’s Oscar race.”
Rio bus drivers and workers throughout Brazil demand shorter work week as lawmakers examine proposal
RIO DE JANEIRO (AP) — Hundreds of bus drivers on strike protested in downtown Rio de Janeiro, demanding increased pay, better conditions and an end to the six-day working week. The protests Tuesday are part of a larger movement to guarantee Brazilians two days off a week. A proposal to limit the working week to five days is currently in the hands of the Senate. It is backed by President Luiz Inácio Lula da Silva as part of his reelection bid in October. If approved, it would transform the lives of millions of mostly poor Brazilians and likely give a boost to Lula’s campaign. About 14 million Brazilians work six days a week.
How to talk about money with your kids
NEW YORK (AP) — Talking to kids about money can be fraught, especially if parents don’t feel totally comfortable with the topic themselves. Jennifer Seitz is director of education at Greenlight, a family personal finance app. She says that’s starting to change. There are more banking products available to help parents think about their children’s financial futures, including debit cards for kids that can be used under parental supervision and apps that gamify money to make it approachable for kids. Experts say you should talk about money openly and often and try to find ways to make money talk engaging and fun for kids.
Four days to make victims fall in love: How global scammers use US tech to fleece people
Technology from American companies is being used to power a revolution in the scam industry, playing a key role in the industrialization and globalization of fraud in ways that have not been clear until now, an AP/“FRONTLINE” investigation has found. Watchdogs say these companies have the technical capacity to do more to protect against abuse but lack the legal, regulatory and business incentives to crack down on a crime the Federal Trade Commission estimates cost Americans nearly $200 billion in losses in 2024.
