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.
Ukrainian drone attacks on oil refineries plunge Russia into a summer fuel crisis
Lines are growing at Russian gas stations -- and so is the frustration and uncertainty as several months of Ukrainian attacks have set oil refineries ablaze and choked supplies for motorists across the vast country. Fuel rationing has been introduced in many regions, with hourslong queues of cars snaking beside roads. Social media videos show drivers aghast at the length of the lines or swearing at empty gas pumps and rising prices. The fuel crisis — unprecedented for a nation that's one of the world’s biggest energy producers — has brought Moscow’s full-scale invasion of Ukraine home to ordinary Russians. It drew a rare admission from President Vladimir Putin, who acknowledged the problems for motorists and businesses.
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.
Survey shows Japan's business sentiment improving for a 5th straight quarter
TOKYO (AP) — The Bank of Japan has reported its quarterly survey of business sentiment among major Japanese manufacturers rose to 22 in June from 17 in the previous quarter. The central bank's key index in the closely watched “tankan” report marked a fifth straight quarter of improvement, even as worries remain about rising energy prices. The survey is an indicator of companies foreseeing good conditions minus those feeling pessimistic. The index for large non-manufacturers, such as services, rose to 37 from the last tankan's 36. Higher oil prices due to the Iran war have pushed inflation higher in Japan, though crude prices have fallen since the U.S. and Iran agreed on an interim deal to end the war.
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.
