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Performance Shipping Inc is a provider of shipping transportation services through its ownership of tanker vessels. The company's vessels are employed on time charters with liner companies carrying containerized cargo along various shipping routes. It owns and operates six Aframax tanker vessels.

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Performance Shipping Inc

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Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google has been dealt a legal blow in Japan as a court has ruled that the company infringed on patents held by Pantech, resulting in a ban on the sale of its Pixel 7 series smartphones.
What Happened: A Japanese court has ruled that Google violated a patent owned by Pantech, a South Korean phone maker, related to signal mapping technology in LTE networks, a core component of 4G communications, <a href="https://9to5google.com/2025/06/26/google-pixel-japan-sales-ban/">reported</a> 9To5Google, citing ET News.
As a result, Google is now prohibited from selling, displaying, transferring, or importing its Pixel 7 series devices in Japan. The court criticized Google's approach to the dispute, describing it as insincere.
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/46132007/amazon-google-not-far-behind-but-dan-ives-says-microsoft-clearly-leading-in-these-segments-600-price-target-is-probably-conservative">Amazon, Google Not Far Behind, But Dan Ives Says Microsoft &#8216;Clearly Leading&#8217; In These Segments — $600 Price Target Is &#8216;Probably&#8217; Conservative</a>
Pantech, which has not released any new phones recently, is pursuing further sales bans for Google's Pixel 8 and Pixel 9 models, although it remains unclear whether these efforts will succeed.
Google did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Why It&#8217;s Important: While the sales ban on Pixel 7 devices in Japan may not significantly impact Google's global operations, Japan has become a key market for the Pixel brand, the report said.
The Pixel 7 series, particularly the Pixel 7a, contributed to a surge in sales for Google in Japan in 2023.
According to Statcounter Global Stats, as of May 2025, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) dominated the mobile vendor market in Japan with a share of 62.46%.
Google held a distant second place with 5.81%, followed closely by Xiaomi (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>) at 5.72%. The &#8220;Unknown&#8221; category accounted for 5.66%, while Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>)&nbsp; and Sony Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) rounded out the top five, with market shares of 5.49% and 3.96%, respectively.
Price Action: Alphabet Inc.&#8217;s Class A shares dipped 0.081% in after-hours trading, while Class C shares fell 0.13%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Benzinga&#8217;s Edge Stock Rankings indicate a positive outlook for GOOG in the short and medium term, but point to a declining trend over the long term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance insights are available here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27010320/Screenshot-2025-06-27-at-10.26.52%E2%80%AFAM.png" alt="" class="wp-image-964284" /></a></figure>
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
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Photo Courtesy: Gabo_Arts on Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Google Faces Legal Setback In Japan: Pixel 7 Series Sales Blocked Amid Patent Dispute With South Korean Phone Maker

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BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Tokyo Core Consumer Price Index (YoY) For June 3.1% Vs. 3.3% Est.; 3.6% Prior

Billionaire entrepreneur Mark Cuban launched a scathing attack on large employers whose full-time workers qualify for Medicaid, arguing that taxpayers effectively subsidize corporate profits through government assistance programs.
What Happened: &#8220;When a large employer pays so little that their full time employees qualify for Medicaid, (or any public assistance) we the taxpayers are effectively subsidizing that big company. That&#8217;s wrong,&#8221; Cuban wrote on X Thursday. He proposed a &#8220;name and shame&#8221; approach as &#8220;the best way to reduce the cost of Medicaid.&#8221;
Cuban&#8217;s comments come as Congress debates President Donald Trump&#8216;s spending bill that could remove 4.8 million people from Medicaid <a href="https://www.benzinga.com/news/politics/25/06/45716936/speaker-mike-johnson-says-4-8-million-wont-lose-medicaid-unless-they-choose-to-do-so-calls-gop-cuts-an-important-and-frankly-heroic-thing">eligibility through new work requirements</a>. The Congressional Budget Office projects the measures would save $625 billion over ten years.
The Dallas Mavericks owner revealed his personal experience with the issue, stating he immediately raised wages after discovering arena employees were receiving public assistance. &#8220;When I found out I had employees at our arena on public assistance, I immediately gave raises to every hourly employee and their managers,&#8221; Cuban said. &#8220;I was embarrassed that was the case. It&#8217;s just wrong.&#8221;
Cuban defended his position against critics who labeled him a socialist, emphasizing market-based solutions. &#8220;I didn&#8217;t mention a word about policy change,&#8221; he responded. &#8220;If I knew which companies are costing taxpayers money, so they can make more money, I would stop doing business with them. That&#8217;s capitalism.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes and no. It comes down to the morals and patriotism of the CEO and board. They can accept less profits , and ask shareholders to increase the P/E they will accept, because it&#39;s the right thing to do for the country. You would be shocked at how many CEOs actually think this… <a href="https://t.co/M8uLQbfjYK">https://t.co/M8uLQbfjYK</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1938421566896832872?ref_src=twsrc%5Etfw">June 27, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/health-care/25/06/46131597/bill-gates-says-he-knows-for-a-fact-that-more-children-will-die-due-to-us-health-aid-cuts-and-hes-taking-the-proof-to-congress">Bill Gates Says He Knows For A &#8216;Fact&#8217; That More Children Will Die Due To US Health Aid Cuts And He&#8217;s Taking The &#8216;Proof&#8217; To Congress</a>
Why It Matters: The healthcare entrepreneur also addressed systemic issues in employer-sponsored insurance, noting that major insurance companies control 230 million Americans&#8217; coverage while pharmacy benefit managers control 275 million. &#8220;They design plans that put the credit risk of patient deductibles and out of pocket on providers,&#8221; Cuban explained, calling the system &#8220;insane&#8221; given that 40% of adults lack $400 in emergency savings while average deductibles reach $2,500.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The question is the path to that end point. Total Transparency to the contract level is one required element The bigger issue is that the big ins comps control 230m, or 2/3 of the country and the big PBMs control 275m. That&#39;s total control. They design plans that put the…
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1938343482281820303?ref_src=twsrc%5Etfw">June 26, 2025</a></blockquote>
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Cuban&#8217;s Cost Plus Drug Company, launched in 2022, has grown to <a href="https://www.benzinga.com/news/health-care/25/06/46019567/mark-cuban-says-were-he-to-become-president-for-a-day-he-would-make-these-two-simple-moves-to-overhaul-us-healthcare">offer over 6,000 medicines through transparent pricing</a> models that eliminate middlemen. The company&#8217;s marketplace expansion reflects his broader critique of healthcare industry practices that burden both taxpayers and patients.
Medicaid serves as a government health insurance program for low-income Americans, contrasting with Medicare&#8217;s coverage for seniors regardless of income.
Recent Trump administration claims about removing undocumented immigrants from Medicaid have drawn scrutiny, as federal Medicaid already excludes this population except for emergency <a href="https://www.benzinga.com/government/regulations/25/05/45607433/trump-administration-claims-its-kicking-1-4-million-undocumented-immigrants-off-medicaid-but-grok-clarifies-federal-medicaid-does-not-cover-them-states-do">services under the 1996 law</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46131630/trump-appointing-a-shadow-chair-at-the-fed-has-put-dollar-under-pressure-meanwhile-china-is-dumping-the-greenback-and-hoarding-gold" target="_blank" rel="noreferrer noopener">Trump Appointing A ‘Shadow Chair' At The Fed Has Put Dollar Under Pressure, Meanwhile China Is Dumping The Greenback And Hoarding Gold</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Health Care

Mark Cuban Calls Out Low-Wage Employers, Says Taxpayers Are 'Subsidizing' Their Profits: Pushes 'Name And Shame' Strategy To Cut Medicaid Costs

Cryptocurrency bettors projected a guilty verdict for rapper Sean &#8220;Diddy&#8221; Combs on sex trafficking charges, despite prosecutors dropping serious charges against him.
What Happened: Odds that the rapper is convicted of sex trafficking or a related felony charge rose 3 percentage points in the last 24 hours to 66% on Polymarket, a decentralized prediction platform. At one time, the probability had hit 74%.
The outcome would resolve to &#8220;Yes&#8221; if an official judgment is delivered by the ruling court before the end of the year. Any appeals will have no bearing on the resolution.
Polymarket, based on&nbsp;Polygon&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>), allows users to buy "Yes" and "No" shares in&nbsp;USDC&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) stablecoin. The shares representing the correct outcome are paid out $1 USDC each upon market resolution.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">JUST IN: Despite prosecutors dropping the most serious charges, Diddy projected to be found guilty of s&#x2A;x trafficking. 69% chance. <a href="https://t.co/qGfxOOBl6N">pic.twitter.com/qGfxOOBl6N</a>
&mdash; Polymarket (@Polymarket) <a href="https://twitter.com/Polymarket/status/1938286033919000692?ref_src=twsrc%5Etfw">June 26, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://benzinga.com/crypto/25/06/46107772/tim-draper-says-this-will-be-the-fate-of-bitcoin-and-the-dollar-in-5-years-billionaire-highlights-apps-bui" target="_blank" rel="noreferrer noopener">Tim Draper Says This Will Be The Fate Of Bitcoin And The Dollar In 5 Years — Billionaire Highlights Apps Built On BTC That Matter</a>
Why It Matters: Diddy has faced <a href="https://www.benzinga.com/real-estate/24/09/40852038/diddy-lists-61-5m-beverly-hills-mansion-the-one-raided-by-homeland-security">multiple lawsuits</a> alleging sexual misconduct, abuse, and sex trafficking, including from former girlfriend&nbsp;Casandra Ventura. He has denied the allegations.
The prosecution in his trial delivered its closing arguments on Thursday, saying that the music mogul used a corporate &#8220;kingdom&#8221;, assault, narcotics, and fraud to compel women into unwanted sex activities, the BBC <a href="https://www.bbc.com/news/articles/c3en4l035dxo">reported</a>.
Fellow rapper Curtis "50 Cent" Jackson has <a href="https://www.benzinga.com/cannabis/25/06/45713681/50-cent-says-hell-personally-ask-trump-not-to-pardon-diddy-if-disgraced-rapper-is-convicted-donald-doesnt-take-well-to-disrespect">publicly criticized Diddy</a>, stating that if Diddy is convicted, he will personally dissuade President Donald Trump from pardoning him.
Trump, when asked about a possible pardon for Diddy, had told reporters, &#8220;I would certainly look at the facts. If I think somebody was mistreated, whether they like me or don&#8217;t like me, wouldn&#8217;t have any impact.&#8221;
Interestingly, Diddy has been <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44184693/sam-bankman-fried-says-prison-inmate-diddy-has-been-kind-to-him-its-a-position-no-one-wants-to-be-in">lodged in the same prison</a> as cryptocurrency fraudster Sam Bankman-Fried. In an interview, Bankman-Fried said that Diddy has been "kind" to people in the unit.
Photo Courtesy: Lev Radin On Shutterstock.com
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/25/06/46065762/sam-bankman-fried-on-stage-wild-musical-on-ftx-founders-time-in-the-same-prison-as-diddy-and-luigi-m">Sam Bankman-Fried On Stage: Wild Musical On FTX Founder&#8217;s Time In The Same Prison As Diddy And Luigi Mangione Makes Sold-Out Debut</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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Sean 'Diddy' Combs' Fate Sealed? Polymarket Crypto Bettors Foresee High Chances Of A Guilty Verdict In Sex Trafficking Trial

Future Fund LLC's managing director, Gary Black, has shared his thoughts on Omead Afshar's <a href="https://www.benzinga.com/markets/tech/25/06/46125266/thank-you-elon-musks-longtime-aide-reportedly-fired-days-after-public-praise">high-profile exit</a> from Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
Check out the current price of <a href="https://benzinga.com/quote/tsla">TSLA stock here</a>.
What Happened: "2Q sales are going to suck," the investor said in a post on social media platform X on Thursday.
The investor then outlined that Tesla sales had declined across the board in Q2 2025 as it experienced a "-15% YoY" decline, with Omead was Tesla's vice president in charge of sales and manufacturing in North America and Europe. Black said Q1 2025 deliveries were down 13% YoY.
"Elon likely doesn't accept that at least some of the 2Q sales weakness in the U.S./Europe is brand taint associated with his right wing political rhetoric and DOGE activities," Black said, underlining that CEO Elon Musk's political endorsements have resulted in brand damage for the EV giant, a consensus that is shared <a href="https://www.benzinga.com/tech/25/05/45511920/cathie-wood-says-brand-damage-has-happened-for-tesla-but-believes-it-isnt-long-term-tesla-will-have-a-lock">by other experts</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My view on Omead Afshar's departure from <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a>: 2Q sales are going to suck. Omead was in charge of TSLA US/Europe sales and 2Q delivs are likely -15% YoY, which will be even worse than TSLA's 1Q delivs decline of -13% YoY. Elon likely doesn't accept that at least some of the 2Q…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1938384335435911625?ref_src=twsrc%5Etfw">June 26, 2025</a></blockquote>
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Why It Matters: Afshar's exit from Tesla comes as the automaker has been <a href="https://www.benzinga.com/markets/eurozone/25/06/45736798/tesla-sales-hit-3-year-low-in-this-european-nation-despite-musks-claims-of-no-demand-problem">grappling with declining sales</a> for the better part of 2025, with numbers hitting record lows in multiple markets.
The company's <a href="https://www.benzinga.com/markets/tech/25/06/46087914/teslas-europe-sales-slide-for-5th-straight-month-elon-musk-led-ev-giants-market-share-shrinks-to-1-3">May sales in Europe</a> went down -27.9% and the company's market share from January 2025 to May 2025 shrank to 1.3%. During the same period last year, the market share was at 2.1% in Europe.
Tesla sales <a href="https://www.benzinga.com/markets/tech/25/06/46069883/teslas-china-sales-slip-over-10-in-mid-june-after-strong-may-surge">also dropped in China</a>, where the company had experienced a relatively stronger performance during the month of May, as new insured registrations fell over 11%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="203" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26234439/TSLA-JUN-27-2025-1024x203.jpg" alt="" class="wp-image-964193" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26234439/TSLA-JUN-27-2025-1024x203.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26234439/TSLA-JUN-27-2025-300x59.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26234439/TSLA-JUN-27-2025-768x152.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26234439/TSLA-JUN-27-2025-1536x304.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26234439/TSLA-JUN-27-2025.jpg 1564w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/markets/tech/25/06/46108079/tslas-robotaxi-could-disrupt-auto-industry-says-piper-sandler-contrasts-goldmans-cautious-view-tesla-will-likely-win">TSLA&#8217;s Robotaxi Could Disrupt Auto Industry, Says Piper Sandler, Contrasts Goldman&#8217;s Cautious View: &#8216;Tesla Will Likely Win&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

TSLA

Tesla's Q2 Sales 'Going to S***,' Says Gary Black After TSLA North America And Europe Chief Omead Afshar's Exit

Among the standout developments in Nike Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) <a href="https://www.benzinga.com/markets/earnings/25/06/46128469/nike-q4-earnings-revenue-beat-eps-beat-headwinds-expected-to-moderate-moving-forward-company">fourth quarter earnings</a> on Thursday was the rapid ascent of its Vomero 18 running shoes, which became a $100 million franchise within just 90 days of launch.
Check out the current price of <a href="https://www.benzinga.com/quote/NKE">NKE stock here. </a> What Happened: During the earnings call, the company&#8217;s CEO, Elliot Hill, did not hold back when highlighting the success of this brand, and called it a clear sign of innovation-led growth is returning.
&#8220;Vomero has already become a $100 million business with growth in all GEOs,&#8221; Hill said, while crediting strong consumer response across its &#8220;Nine Box&#8221; running shoes lineup and early wholesale enthusiasm as key drivers of the new model's rapid success.
See Also: <a href="https://www.benzinga.com/trading-ideas/dividends/25/06/46113250/how-to-earn-500-a-month-from-nike-stock-ahead-of-q4-earnings-2">How To Earn $500 A Month From Nike Stock Ahead Of Q4 Earnings?</a>
Hill adds that the company is doubling down on the brand, with variants already on their way. &#8220;We have Vomero Plus and Vomero Premium coming in&#8230; Both those shoes are beautiful shoes and incredibly innovative and distinctive,&#8221; he said.
He, however, acknowledged during the call that the company&#8217;s fourth quarter results weren&#8217;t &#8220;up to the Nike standards,&#8221; adding that they&#8217;re in the process of repositioning the business around the &#8220;WinNow Actions.&#8221; This essentially refers to aligning the company around culture, product, marketing, marketplace, and its ground game.
Hill emphasized this cultural and operational transformation, saying that it was &#8220;time to turn the page.&#8221; The company&#8217;s CFO, Matthew Friend, said, &#8220;The fourth quarter reflected the largest financial impact from our WinNow actions.&#8221;
Why It Matters: Investor Gary Black, the founder of the Future Fund, who notes that he owns no position in the sporting apparel company, applauded its turnaround efforts under Hill in a post on X.
Black, who says that the company&#8217;s had a disastrous year, believes the business has &#8220;hit bottom,&#8221; as a result of its &#8220;not as bad as feared&#8221; fourth quarter results, and it going &#8220;back to its roots&#8221; as a product innovator, with a focus on sports and athletes. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24NKE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NKE</a> (no position) +10% AH after reporting 4Q results that were not as bad as feared, gave stronger than expected 1Q rev guidance (down MSD vs -7% exp), and signaled NKE's business had hit bottom. <a href="https://twitter.com/search?q=%24NKE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NKE</a> has been a disaster over the past year (NKE -34% vs SPX +12% and <a href="https://twitter.com/search?q=%24ONON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ONON</a> +34%)… <a href="https://t.co/vquk0DzIPm">pic.twitter.com/vquk0DzIPm</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1938371271802134783?ref_src=twsrc%5Etfw">June 26, 2025</a></blockquote>
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</figure>
The company reported its <a href="https://www.benzinga.com/25/03/44430536/bill-ackman-backed-nike-reports-worst-footwear-revenue-in-more-than-a-decade-takes-action-to-continue-liquidating-inventory-amid-grim-outlook">worst footwear sales</a> performance in over a decade during its third quarter results three months ago, which was largely owing to efforts in &#8220;rightsizing&#8221; its inventory, and helping Nike return to a more &#8220;complete and balanced portfolio.&#8221;
It has since mounted a strong turnaround, reporting $11.1 billion in revenue during its <a href="https://www.benzinga.com/markets/earnings/25/06/46128469/nike-q4-earnings-revenue-beat-eps-beat-headwinds-expected-to-moderate-moving-forward-company">fourth quarter results</a> on Thursday, coming in ahead of consensus estimates at $10.72 billion. The company posted a profit of $0.14 per share, beating analyst estimates of $0.11 per share, according to <a href="http://pro.benzinga.com/?_gl=1&#x2A;140pvyv&#x2A;_gcl_au&#x2A;OTU0MzA1MzE4LjE3NDcwMTIxNDM.&#x2A;_ga&#x2A;ZGVsZXRlZA..&#x2A;_ga_V7ZK73W7N0&#x2A;czE3NTA5ODU5ODckbzI2MSRnMSR0MTc1MDk5NjUwNSRqMjAkbDAkaDA.">Benzinga Pro</a>.
Price Action: Shares of Nike were up 2.81% on Thursday, trading at $62.54, and are up 10.73% after hours, following its fourth quarter earnings results after markets closed.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="146" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26235822/Screenshot-2025-06-27-at-9.28.07-AM-1024x146.png" alt="" class="wp-image-964215" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26235822/Screenshot-2025-06-27-at-9.28.07-AM-1024x146.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26235822/Screenshot-2025-06-27-at-9.28.07-AM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26235822/Screenshot-2025-06-27-at-9.28.07-AM-768x110.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26235822/Screenshot-2025-06-27-at-9.28.07-AM.png 1528w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Nike scores poorly on Benzinga&#8217;s Edge Stock Rankings, but has a favorable price trend in the short term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights on the stock, its peers and competitors.
Photo Courtesy: pio3 on Shutterstock.com
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</ul>

Earnings

Sports

Nike's Vomero 18 Quietly Became A $100 Million Franchise In 90 Days As CEO Says It's 'Time To Turn The Page' — Investor Gary Black Cheers 10% After-Hours Rally

On Thursday, Wedbush analyst Dan Ives said that Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is outpacing competitors like Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google in the cloud and hyperscaling sectors.
What Happened: Ives, who has become more bullish on Microsoft, has <a href="https://www.benzinga.com/markets/equities/25/06/46108861/microsoft-is-playing-chess-and-others-are-playing-checkers-dan-ives-says-msft-could-be-a-5-trillion-company-in-18-months">raised his price target</a> for the stock to $600, citing the company's dominant position in cloud computing and hyperscaling technologies.
"Microsoft is clearly leading when it comes to hyperscaling and cloud," Ives said during an interview with The Street.
While Amazon's AWS and Google Cloud have made strides, Ives said that Microsoft's Azure platform has a significant edge, making it a crucial part of the company's success.
He also noted that only 20% of Microsoft's business is currently focused on next-gen cloud and AI, and as this grows to 50-60%, it will fundamentally revalue the company.&nbsp;
&#8220;$600 [price target]… I ultimately think its probably conservative,&#8221; Ives added.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/06/45988600/mark-zuckerbergs-meta-dangled-100-million-signing-bonuses-to-openai-team-members-says-sam-altman-happy-none-of-our-best-people-took-them" target="_blank" rel="noreferrer noopener">Mark Zuckerberg&#8217;s Meta Dangled ‘$100 Million Signing Bonuses&#8217; To OpenAI Team Members, Says Sam Altman: Happy ‘None&#8217; Of Our Best People Took Them</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Great to be on <a href="https://twitter.com/TheStreet?ref_src=twsrc%5Etfw">@TheStreet</a> with <a href="https://twitter.com/Cline_Woods?ref_src=twsrc%5Etfw">@Cline_Woods</a> discussing tech stocks and the AI Revolution looking forward &#x1f3c6;&#x1f525;&#x1f37f;&#x1f3af;&#x1f402;&#x1f4fa;&#x1f447; <a href="https://t.co/fG2x5QexAI">https://t.co/fG2x5QexAI</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1938294338766999937?ref_src=twsrc%5Etfw">June 26, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It&#8217;s Important: Microsoft currently has a market cap of $3.69 trillion, making it the second most valuable company in the world after Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Ives has also predicted that Microsoft could reach a $5 trillion valuation within the next 18 months, following his decision to <a href="https://www.benzinga.com/markets/equities/25/06/46091818/microsoft-stock-poised-for-23-rally-as-ai-monetization-gains-steam-dan-ives-says">raise the stock's price target</a> to $600 per share.
Microsoft currently holds a consensus price target of $523.73, derived from assessments by 29 analysts. The three latest analyst updates came from Morgan Stanley, Wedbush and Wells Fargo, providing an average price target of $571.67 and suggesting a potential 14.98% upside.
Price Action: Microsoft (MSFT) shares rose 1.05% during Thursday's regular session, followed by a marginal decline of 0.050% in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. The stock is up 18.84% year-to-date and has gained 10.02% over the past 12 months.
Benzinga Edge Stock Rankings indicate that MSFT has demonstrated a strong price trend across short, medium and long-term periods. While its momentum ranking remains robust, its value ranking is relatively weak. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional metric details can be found here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26235327/Screenshot-2025-06-27-at-9.16.31%E2%80%AFAM.png" alt="" class="wp-image-964210" /></a></figure>
Photo Courtesy: katuSka on Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"> </a>

AMZN

MSFT

NVDA

Amazon, Google Not Far Behind, But Dan Ives Says Microsoft 'Clearly Leading' In These Segments — $600 Price Target Is 'Probably' Conservative

One in three employees feels that the pace of work in today's world has become impossible to keep up with, new research by <a href="https://www.microsoft.com/en-us/worklab/work-trend-index/breaking-down-infinite-workday">Microsoft</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) found.
In its 2025 Work Trend Index Annual Report, Microsoft charts the emergence of what it calls a "Frontier Firm," or a company that's "redesigning business processes around AI and agents to scale rapidly, operate with agility, and generate value faster than traditional companies."&nbsp;
These new, ultraproductive companies will be hindered by one major roadblock: the seemingly infinite workday.
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This infinite workday "starts early, mostly in email, and quickly swells to a focus-sapping flood of messages, meetings, and interruptions," the report says.&nbsp;
An average employee is online by six am, reviewing a fraction of the 117 emails they'll receive that day. By the time they're entering peak productivity hours, between 9 a.m. and 11 a.m. and again between 1 p.m. and 3 p.m., they're knee-deep in meetings and receiving workflow interruptions every two minutes.&nbsp;
Things aren't winding down in the evening, either. Microsoft's data shows that there has been a 16% increase in meetings after 8 p.m. year-over-year. Additionally, the average employee receives 50+ teams messages outside of core work hours.
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All of this leads to a sense of exhaustion and an increased mental load. Just under half of all employees, 48%, and a full 52% of leaders say their "work feels chaotic and fragmented," thanks to the frenetic pace and constant digital noise.
Microsoft says that while the trend of the 24/7 workday is concerning, it doesn't have to be that way. "AI can give us the leverage to redesign the rhythm of work, refocus our teams on new and differentiating work, and fix what has become a seemingly infinite workday. The question isn't whether work will change. It's whether we will," the report reads.
Outsourcing mundane tasks is a good place to start. "By deploying AI and agents to streamline low-value tasks—status meetings, routine reports, admin churn—leaders can reclaim time for what moves the business: deep work, fast decisions, and focused execution," the report says.
But it's "agent bosses" or "human agent teams" that are the real future of work, the report says. This new generation of professionals will work smarter, not harder, by deploying AI agents to do the most routine aspects of their work so that they can focus on what matters most, "fast, high-quality insights that benefit the entire team."
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Why Your 9-to-5 Feels More Like 24/7, Report Says

Thomas Wolf, co-founder and chief science officer at Hugging Face, has cast doubt on the belief that current artificial intelligence systems will lead to major scientific breakthroughs.
Wolf told <a href="http://fortune.com/2025/06/20/hugging-face-thomas-wolf-ai-yes-men-on-servers-no-scientific-breakthroughs/">Fortune</a> that today's large language models, or LLMs, excel at providing answers but fall short when it comes to formulating original questions.
&#8220;In science, asking the question is the hard part,&#8221; he said. &#8220;Once the question is asked, often the answer is quite obvious, but the tough part is really asking the question, and models are very bad at asking great questions.&#8221;
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<h2 class="wp-block-heading">Response To Anthropic's AI Acceleration Claims</h2>
Wolf&#8217;s comments were in response to a <a href="https://www.darioamodei.com/essay/machines-of-loving-grace">blog post</a> by Anthropic CEO Dario Amodei, who argues that artificial intelligence could compress a century's worth of scientific breakthroughs into just a few years.
Wolf said he initially found the post compelling but became skeptical after rereading. &#8220;It was saying AI is going to solve cancer, and it's going to solve mental health problems—it's going to even bring peace into the world. But then I read it again and realized there's something that sounds very wrong about it, and I don't believe that,&#8221; he told Fortune.
San Francisco-based Anthropic is backed by tech giants, including Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>, GOOGL)), and is also known for its Claude family of AI models.
<h2 class="wp-block-heading">‘Yes-Men On Servers' Critique</h2>
For Wolf, the core issue lies in how LLMs are trained. In another <a href="https://thomwolf.io/blog/scientific-ai.html">blog post</a>, Wolf argues that today&#8217;s AI systems are built to predict likely outcomes, act as "yes-men on servers," capable of mimicking human responses but incapable of challenging assumptions or generating original ideas.
"To create an Einstein in a data center, we don't just need a system that knows all the answers, but rather one that can ask questions nobody else has thought of or dared to ask," Wolf wrote.
He cited that real scientific progress often comes from paradigm shifts—like Copernicus proposing heliocentrism or the invention of CRISPR-based gene editing—rather than from answering existing questions.
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<h2 class="wp-block-heading">Benchmarks Focus On Answers, Not Inquiry</h2>
Wolf also questioned how AI performance is measured today. In his blog post, he pointed to benchmarks like Humanity's Last Exam or Frontier Math, which test how well AI models can answer complex but well-defined questions.
"These are exactly the kinds of exams where I excelled," Wolf wrote, referencing his academic background. "But real scientific breakthroughs come not from answering known questions, but from asking challenging new ones and questioning previous ideas."
He argued that AI needs to demonstrate the ability to challenge its training data, take counterfactual approaches, and identify new research directions from incomplete information.
<h2 class="wp-block-heading">An Einstein-Level AI Remains Distant</h2>
Using the board game Go as an analogy, Wolf said the landmark <a href="https://deepmind.google/research/projects/alphago/">2016 victory</a> of DeepMind's AlphaGo over world champions made headlines but was not revolutionary.
"Move 37, while impressive, is still essentially a straight-A student answer to the question posed by the rules of the game of Go," he wrote in his blog. "An Einstein-level breakthrough in Go would involve inventing the rules of Go itself."
<h2 class="wp-block-heading">Hugging Face's Role In AI Development</h2>
Hugging Face is a prominent open-source platform in the AI community, known for its collaborative development of open-source machine learning models and tools. The company is backed by investors including Sequoia Capital and Lux Capital, and it plays a leading role in developing transparent and accessible AI systems.
Wolf concluded that while current models are useful as assistants, true scientific progress requires a different kind of intelligence—one that can formulate disruptive questions rather than repeat what is already known.
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Hugging Face Co-Founder Challenges AI Optimists: 'Models Can't Ask Original Scientific Questions'

Indian authorities have successfully extracted the black box data from the Air India flight that tragically crashed earlier this month, India&#8217;s civil aviation ministry said on Thursday. This step was long-awaited and is expected to provide crucial insights into the cause of the disaster.
What Happened: The Civil Aviation Ministry of India announced the recovery of the black box data from the Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) 787 Dreamliner that crashed in Ahmedabad, India, on June 12, killing 260 people, Reuters reported. The aircraft was flying to London when it crashed shortly after takeoff. The recovery of the Cockpit Voice Recorder and Flight Data Recorder is a crucial step.
The Ministry, in a statement, said, &#8220;These efforts aim to reconstruct the sequence of events leading to the accident and identify contributing factors to enhance aviation safety and prevent future occurrences.&#8221; 
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The data was accessed by a team led by India&#8217;s Aircraft Accident Investigation Bureau in collaboration with the U.S. National Transportation Safety Board. The investigation is expected to focus on the aircraft&#8217;s engine thrust, among other factors.
Why It Matters: The recovery of the black box data is a significant development in the investigation into the Air India crash. This step is expected to provide critical insights into the events leading up to the <a href="https://www.benzinga.com/markets/equities/25/06/45899174/boeing-dreamliner-carrying-over-200-passengers-crashes-shortly-after-takeoff-near-indias-ahmedabad-ba-stock-falls-over-5-in-thursday-pre-market">disaster</a>, potentially shedding light on the causes and contributing factors.
The fatal crash has had a significant impact on the aviation industry, particularly on Boeing. The incident has raised questions about the safety and quality of Boeing aircraft, leading to <a href="https://www.benzinga.com/markets/tech/25/06/45991614/if-its-boeing-im-not-going-why-some-people-are-turning-their-backs-on-the-american-plane-maker-in-favor-of-rival-airbus">a shift in public perception</a> and potential consequences for the company&#8217;s future.&nbsp;
Involvement of two major U.S. aerospace players, Boeing and GE, in the aircraft, places them at the center of the investigation, with potential legal and reputational risks.
Price in Action: Boeing has gained 1.85% during regular trading and closed at approximately $202.58,  according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga's Edge Stock Rankings indicates Boeing stock has a Momentum in the 71st percentile. How does the stock stack up against other aviation players? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Find out here.</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="976" height="144" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26225139/Screenshot-2025-06-27-080813.png" alt="" class="wp-image-964137" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26225139/Screenshot-2025-06-27-080813.png 976w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26225139/Screenshot-2025-06-27-080813-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26225139/Screenshot-2025-06-27-080813-768x113.png 768w" sizes="(max-width: 976px) 100vw, 976px" /></figure>
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Photo Courtesy: Renatas Repcinskas on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AIRI

Boeing 787 Dreamliner Black Box Recovered, Data Under Scrutiny To Provide Insights Into Fatal Air India Crash

Entrepreneurs sign up for sacrifice—just ask Elon Musk, who said 2008 was "the worst year of my life" and that on the Sunday before Christmas, he thought he was on the <a href="https://www.benzinga.com/startups/24/12/42295862/never-thought-id-be-a-person-to-have-a-nervous-breakdown-elon-musk-recalls-christmas-of-2008-everything-was-going-wrong-at-once">verge of a nervous breakdown</a>, calling it "pretty, pretty dark."&nbsp;&nbsp;
Whether you're building rockets or selling socks, the cost of chasing success can be brutal.
But Kevin O'Leary—also known as "Mr. Wonderful"—took that sentiment to a whole new level in 2023 when he posted a <a href="https://x.com/kevinolearytv/status/1624463778531115010?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1624463778531115010%7Ctwgr%5Ecbbbe71da7b857597db0fb63cf3691f8c74720bb%7Ctwcon%5Es1_&amp;ref_url=https://www.entrepreneur.com/business-news/kevin-oleary-bites-back-at-critics-after-controversial/445815">now-infamous message on X</a> that felt less motivational and more like a cold splash of espresso to the face.
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"You may lose your wife, you may lose your dog, your mother may hate you. None of those things matter. What matters is that you achieve success and become free. Then you can do whatever you like."
Naturally, the backlash came fast. Social media users didn't exactly crown him king of hustle culture. Comments poured in, calling the post "soulless," "sad" and even the rationalization of a man trying to convince himself it was worth it.
One user suggested he must've sold his soul. Another assumed it had to be a hack—until realizing, nope, just Kevin being Kevin.
But instead of walking it back or blaming poor phrasing, O'Leary doubled down. Days later, he followed up with:
"I don't understand all the blowback because of my comments on #hardwork #commitment &amp; #sacrifice. If you are not willing to work 25 hours a day eight days a week don't bother asking me for an #investment. You are not an #entrepreneur."
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Then he brought that same energy to a <a href="https://www.cnn.com/videos/business/2023/02/15/kevin-oleary-shark-tank-tweet-controversy-cnntm-cprog-vpx.cnn">CNN interview</a>, where he looked straight into the camera and stood firm:
"If you're an entrepreneur, you know exactly what I'm talking about… You have to win when you're young and sacrifice everything so that you achieve freedom for your whole family later in life."
Cold? Maybe. Harsh? Definitely. But to O'Leary, sacrifice isn't just part of the game—it is the game. And while most people hope their path to success won't involve alienating their dog, their spouse, and their mom, he's making the case that <a href="https://www.benzinga.com/personal-finance/25/04/44595316/dave-ramseys-honest-take-on-caller-who-got-dumped-for-working-too-much-im-not-chasing-her-she-bailed">freedom comes with a price tag</a> most aren't willing to pay.
Still, not <a href="https://www.benzinga.com/startups/24/11/41689696/thats-the-big-side-hustle-in-america-says-kevin-oleary-about-the-booming-digital-economy-its-america">everyone wants to "hustle harder."</a> Some people want balance. Others prefer to keep their family, their sanity, and their weekends. And some would rather invest in <a href="https://www.benzinga.com/personal-finance/25/03/44346635/kevin-o-leary-says-elon-musk-will-walk-away-mid-conversation-if-he-gets-bored-he-doesnt-give-a-sht-ive-never-met-anybody-like-him">someone else's startup</a> than sacrifice their own relationships to build one.
O'Leary may not be wrong about the cost of success—but whether it's worth it? That's a personal decision. Just don't expect him to hand out sympathy… or investment checks.
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<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a></li>
</ul>

Personal Finance

'None Of That Matters' — Kevin O'Leary Says You Might Have To Sacrifice Your Marriage, Your Dog, And Even Your Mom's Love To Succeed

Elon Musk announced that X will transition to charging advertisers based on vertical screen size, marking a significant shift in the platform&#8217;s revenue strategy as the company works to restore advertising income to pre-acquisition levels.
What Happened: The billionaire wrote on X that the platform &#8220;is moving to charging for ads based on vertical size, so an ad that takes up the whole screen would cost more than an ad that takes up 1/4 of the screen, otherwise the incentive is to create giant ads that impair the user experience.&#8221;
This pricing adjustment comes as X continues its broader transformation into an &#8220;everything app&#8221; under Musk&#8217;s leadership. The platform recently secured money transmitter licenses across 40 states and Washington D.C., positioning itself to compete with financial services companies through its <a href="https://www.benzinga.com/markets/tech/25/06/46041551/elon-musks-x-to-offer-physical-debit-cards-as-part-of-his-everything-app-vision-report">upcoming X Money service</a>.
X CEO Linda Yaccarino has been working alongside Musk to restore advertising revenues to 2022 levels following the platform&#8217;s $44 billion acquisition. Emarketer data shows X&#8217;s revenue rising to $2.3 billion this year from $1.9 billion previously, though the company faces ongoing <a href="https://www.benzinga.com/tech/25/03/44552860/major-brands-resume-advertising-on-musks-x-amid-legal-pressure">challenges with advertiser relations</a>.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#120143; is moving to charging for ads based on vertical size, so an ad that takes up the whole screen would cost more than an ad that takes up 1/4 of the screen, otherwise the incentive is to create giant ads that impair the user experience
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1938405707621273659?ref_src=twsrc%5Etfw">June 27, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/tech/25/06/46130084/cathie-woods-alpha-surge-250-million-circle-windfall-big-amd-buys">Cathie Wood&#8217;s Alpha Surge: $250 Million Circle Windfall, Big AMD Buys</a>
Why It Matters: The new ad pricing model addresses user experience concerns while potentially impacting revenue streams. Major brands recently resumed advertising on X following legal pressure from Musk&#8217;s <a href="https://www.benzinga.com/tech/25/03/44552860/major-brands-resume-advertising-on-musks-x-amid-legal-pressure">antitrust lawsuit against</a> the Global Alliance for Responsible Media, which accused the coalition of an &#8220;illegal boycott.&#8221;
Despite a 2% decline in <a href="https://www.benzinga.com/tech/25/03/44552860/major-brands-resume-advertising-on-musks-x-amid-legal-pressure">U.S. ad spending on X during early 2025</a>, major advertising agencies, including WPP and Omnicom, have agreed to set annual spending targets with the platform. The advertising changes reflect X&#8217;s strategy to balance user experience with revenue generation as it expands beyond social media into comprehensive financial services.
Musk&#8217;s xAI recently acquired X in a deal <a href="https://www.benzinga.com/25/03/44549314/elon-musk-acquires-his-own-social-media-platform-x-through-xai-in-33-billion-deal-says-combined-entity-now-worth-80-billion">valuing the combined entity</a> at $80 billion, integrating data and talent across both platforms to enhance artificial intelligence capabilities and advertising targeting.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46131630/trump-appointing-a-shadow-chair-at-the-fed-has-put-dollar-under-pressure-meanwhile-china-is-dumping-the-greenback-and-hoarding-gold">Trump Appointing A &#8216;Shadow Chair&#8217; At The Fed Has Put Dollar Under Pressure, Meanwhile China Is Dumping The Greenback And Hoarding Gold</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Mamun_Sheikh / Shutterstock.com

HOOD

SOFI

Elon Musk Says X Will Charge Advertisers By Screen Size To Curb 'Giant Ads' That Hurt User Experience

President&nbsp;Donald Trump's&nbsp;crypto and AI advisor,&nbsp;David Sacks, praised on Thursday the Senate&#8217;s&nbsp;timeline and plan for crypto legislation that proposes dividing&nbsp;oversight of digital assets between&nbsp;market regulators.
What Happened: In an X post, Sacks thanked&nbsp;Senate Banking Committee Chair Senator&nbsp;Tim Scott&nbsp;(R-S.C.) and Digital Assets&nbsp;Subcommittee Chair Sen.&nbsp;Cynthia Lummis&nbsp;(R-Wyo.)&nbsp;for their commitment to introduce the CLARITY Act, known popularly as the crypto market structure bill, before the August recess and get it passed by the end of September.
 &#8220;July will be a big month, with a bill signing for GENIUS, and CLARITY going to the Senate,&#8221; Sacks said, emphasizing that both bills have complete backing from President Donald Trump.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Thank you to Senate Banking Committee Chair <a href="https://twitter.com/SenatorTimScott?ref_src=twsrc%5Etfw">@SenatorTimScott</a> and Digital Assets Subcommittee Chair <a href="https://twitter.com/SenLummis?ref_src=twsrc%5Etfw">@SenLummis</a> for announcing a clear timeline and plan for comprehensive crypto market structure legislation: &#x2705; Bill introduced before August recess &#x2705; Mark up first week of…
&mdash; David Sacks (@davidsacks47) <a href="https://twitter.com/davidsacks47/status/1938344533646872692?ref_src=twsrc%5Etfw">June 26, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Sacks remarks followed a fireside chat between Lummis, Scott and Bo Hines, the&nbsp;executive director of the White House Council on Digital Assets, about the need to expedite the bill to establish a clear regulatory framework for the cryptocurrency industry and make things &#8220;welcoming&#8221; for innovators.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Had a productive &amp; delightful fireside chat with <a href="https://twitter.com/SenatorTimScott?ref_src=twsrc%5Etfw">@SenatorTimScott</a> and <a href="https://twitter.com/BoHines?ref_src=twsrc%5Etfw">@BoHines</a> this morning. Market structure legislation is crucial to positioning America as the leader in financial innovation, and making it a welcoming home for digital asset innovators. <a href="https://t.co/bprM9k7SbL">pic.twitter.com/bprM9k7SbL</a>
&mdash; Senator Cynthia Lummis (@SenLummis) <a href="https://twitter.com/SenLummis/status/1938381259501445503?ref_src=twsrc%5Etfw">June 26, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/46087988/anthony-pompliano-says-companies-following-michael-saylors-playbook-may-have-raised-large-sums-but-they-arent-able-to-buy-bitcoin-yet-explains-why-procap-is-differ" target="_blank" rel="noreferrer noopener">Anthony Pompliano Says Companies Following Michael Saylor&#8217;s Playbook May Have Raised &#8216;Large Sums&#8217; But They Aren&#8217;t Able To Buy Bitcoin Yet, Explains Why ProCap Is Different</a>
Why It Matters: Lummis said earlier this month that pro-cryptocurrency senators are working <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45765425/cynthia-lummis-says-senators-are-gearing-up-to-introduce-landmark-legislation-for-digital-asset-oversight">on the market structure bill</a>. She confirmed that the Senate's version of the bill would closely mirror the House bill. 
The proposed legislation&nbsp;<a href="https://www.benzinga.com/25/05/45213365/maxine-waters-to-obstruct-cryptocurrency-hearing-plans-shadow-hearing-instead" target="_blank" rel="noreferrer noopener">aims to split&nbsp;cryptocurrency oversight</a>&nbsp;between the Securities&nbsp;and Exchange Commission and the Commodity&nbsp;Futures Trading Commission. Put simply, it will clearly define whether cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) are securities or commodities.
In a recent interview,&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46101110/bitcoin-senator-cynthia-lummis-lauds-white-houses-real-enthusiasm-for-crypto-legislation">Lummis expressed optimism</a>&nbsp;that the White House is actively supportive of passing major crypto legislation as soon as July. She pointed to the GENIUS Act, a stablecoin-focused bill passed by the Senate last week, as evidence of this momentum.
Photo Courtesy: sundaemorning on Shutterstock.com
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<li><a href="https://benzinga.com/crypto/25/06/46107772/tim-draper-says-this-will-be-the-fate-of-bitcoin-and-the-dollar-in-5-years-billionaire-highlights-apps-bui" target="_blank" rel="noreferrer noopener">Tim Draper Says This Will Be The Fate Of Bitcoin And The Dollar In 5 Years — Billionaire Highlights Apps Built On BTC That Matter</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Politics

$BTC

$ETH

Trump's Crypto Advisor David Sacks Says July Will Be A 'Big Month' — Says President Supports Legislation On Market Structure And Stablecoins

Amazon.com Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) grocery chief, Jason Buechel, blasted the division's internal bureaucracy as "ridiculous" during a staff meeting last week, saying layers of approvals are stalling efforts to meld Whole Foods, Amazon Fresh and Amazon Go into one operation.
What Happened: Buechel, vice president of Amazon&#8217;s Worldwide Grocery division and CEO of Whole Foods, told employees last week that multiple levels of approval inside the unit are "ridiculous" and "actually holding back some of our initiatives."
"The feedback I've gotten from team members is that we're wasting time," he said, <a href="https://www.businessinsider.com/amazon-whole-foods-grocery-boss-slams-ridiculous-bureaucracy-2025-6">according</a> to Business Insider. "It's taking too long for decisions and approvals to take place."
Buechel said his team has already flagged slow-moving spending and transaction policies that differ between Whole Foods and Amazon Fresh and is streamlining them to ensure &#8220;administrative details" waste less time. The changes are part of "One Grocery," an initiative designed to fold Whole Foods, Amazon Fresh and Amazon Go under a single operating playbook.
See also: <a href="https://www.benzinga.com/personal-finance/management/25/06/46044155/our-grocery-bill-is-insane-why-even-budget-savvy-shoppers-are-struggling-at-walmart-now">&#8216;Our Grocery Bill Is Insane&#8217;—Why Even Budget-Savvy Shoppers Are Struggling at Walmart Now</a>
Cutting bureaucracy is also a company mandate from Chief Executive Andy Jassy, who has <a href="https://www.benzinga.com/news/23/04/31930513/amazons-whole-foods-prepares-for-organizational-revamp-to-let-go-of-fraction-of-employees">pared management layers</a> and urged workers to report needless rules.
Why It Matters: The shake-up comes with job losses. A state filing <a href="https://www.geekwire.com/2025/amazon-closes-fresh-grocery-store-south-of-seattle-state-filing-says-125-workers-impacted/">reported</a> by Geekwire shows Amazon eliminated 125 frontline roles after closing an Amazon Fresh store near Seattle this week. Amazon said affected employees can transfer to nearby locations.
Buechel called eliminating "overlapping work" his top priority for the year and hinted that some resources will "pivot" as plans solidify. He added that bringing Whole Foods staff under Amazon's pay and performance programs should create "a more consistent experience" across grocery teams.
Despite the turbulence, Amazon insists it is "more optimistic than ever" about the $800-billion grocery market. The Jeff Bezos-owned company continues to experiment with <a href="https://www.benzinga.com/news/25/01/42984924/amazon-rolls-out-a-new-supermarket-chain-in-a-bid-to-disrupt-the-grocery-business">new supermarket formats</a> even as it pares back cashier-less tech and trims payroll.
Price Action: Amazon shares were up 2.42% to close at $217.12 on Thursday. The stock's 52-week range lies between $242.52 and $151.61, according to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro data</a>.
Benzinga&#8217;s Edge Stock Rankings indicate Amazon has Momentum in the 44th percentile but Growth in the 97th percentile. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">How does it stack up</a> to other major grocery chain stocks, such as Kroger and Walmart?
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="154" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26232310/amzn-edge-1-1024x154.png" alt="" class="wp-image-964158" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26232310/amzn-edge-1-1024x154.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26232310/amzn-edge-1-300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26232310/amzn-edge-1-768x115.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26232310/amzn-edge-1.png 1386w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Photo Courtesy: Joni Hanebutt on Shutterstock.com
Read next: <a href="https://www.benzinga.com/markets/earnings/25/06/46030486/grocery-giant-kroger-cfo-raises-identical-sales-outlook-but-maintains-caution-due-to-tariff-uncertainty">Grocery Giant Kroger CFO Raises Identical Sales Outlook, But Maintains Caution Due To Tariff Uncertainty</a>

Management

Amazon's Grocery Chief Blames 'Ridiculous' Red Tape For Holding Back Initiatives At Whole Foods: 'We're Wasting Time'

When one retiree left his job in last August and applied for Social Security at age 63 and 5 months, he thought he was doing everything by the book. In a <a href="https://www.reddit.com/r/SocialSecurity/comments/1ldts8b/what_dont_i_understand_here/">post on Reddit</a>, he shared that his first check came in September — but just a few months later, he was shocked to receive a letter stating he owed the Social Security Administration $9,648 due to overpayment.
The issue? His earnings for the year had already exceeded the annual limit for Social Security recipients under full retirement age.
Here's what went wrong — and what other soon-to-be retirees can learn from it.
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<h2 class="wp-block-heading">The Earnings Limit Before Full Retirement Age</h2>
If you begin collecting Social Security before reaching <a href="https://www.benzinga.com/personal-finance/25/03/44552100/i-have-no-doubt-theyre-going-to-raise-the-full-retirement-age-possibly-to-70-suze-orman-weighs-in-on-social-security-fears">full retirement age</a>, there are limits on how much you can earn from working without seeing your benefits reduced.
In 2024, the annual earnings limit was $22,320. If you earn more than that, the SSA withholds $1 for every $2 you earn above the limit.
The retiree in this case had earned about $48,500 before quitting his job in early August. That was well over the annual limit, which automatically triggered a full clawback of his 2024 benefits. Since his first four checks added up to $9,648, that entire amount was marked for recovery.
<h2 class="wp-block-heading">The One-Time Rule That Could Help</h2>
Many retirees don't realize there's a special rule for those who retire mid-year. This rule allows you to use a monthly earnings limit in your first year of retirement, instead of the full-year limit.
In 2024, the monthly limit was $1,860. That means if you earned less than $1,860 in a given month, you could still receive your full <a href="https://www.benzinga.com/personal-finance/25/05/45611852/social-security-set-to-make-history-by-crossing-2000-barrier-for-first-time-but-seniors-still-losing-ground-to-inflation">Social Security payment</a> for that month — even if your total earnings for the year were above the annual limit.
In this retiree's case, he earned only $900 from August through December — well under the monthly threshold. Under the special rule, he may still qualify to keep the benefits he received in those months.
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<h2 class="wp-block-heading">What to Do If This Happens to You</h2>
If you receive an overpayment notice and believe you qualify under the monthly earnings test, the SSA does allow certain months to be excluded from the annual earnings test. According to <a href="https://www.ssa.gov/faqs/en/questions/KA-01927.html">SSA guidelines</a>, these are months where your earnings were below the monthly threshold and you were considered retired.
To correct the record, the SSA recommends contacting them directly to report your earnings. You can do this:
<ul class="wp-block-list">
<li>By phone or online, to inform them of months when your earnings were below the monthly limit.</li>
<li>By requesting a waiver if repaying the full amount would cause financial hardship and you believe the overpayment wasn't your fault. This involves submitting <a href="https://www.ssa.gov/forms/ssa-632-bk.pdf">Form SSA-632-BK</a>.</li>
</ul>
One user on the Reddit post also suggested submitting a signed statement that includes their total earnings and identifies the specific months they believe should be counted as "non-work" months.&nbsp;
Keep in mind that different rules may apply if you were self-employed. The SSA generally considers more than 45 hours of work per month as substantial, even if your income was low — which could disqualify those months from being counted as "retired."
<h2 class="wp-block-heading">The Bottom Line</h2>
<a href="https://www.benzinga.com/25/05/45601283/social-security-checks-could-shrink-for-450000-retirees-as-government-resumes-seizing-benefits-over-student-loan-defaults">Social Security rules</a> can be confusing — especially when it comes to working while collecting benefits. If you're planning to retire mid-year, it's important to understand the special earnings limit rule and how to report your income correctly.
By planning ahead and notifying the SSA about your work and earnings, you may be able to avoid unexpected overpayment notices — and keep more of your benefits in your pocket.
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<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a></li>
</ul>

'I Thought I Could Still Work A Little': Retiree Hit With Surprise $9,648 Social Security Overpayment Notice

NBA great Larry Bird once hesitated to <a href="https://www.bostonglobe.com/2021/11/09/magazine/time-larry-bird-hustled-me-out-160-other-celtics-stories/">spending</a> $60,000 on a Mercedes even after earning roughly $20 million during his Boston Celtics days.&nbsp;
The frugal stance—quietly delivered four decades ago—has returned to the spotlight, sparking fresh debates about how modern superstars juggle wealth and values.
<h2 class="wp-block-heading">Frugality Flashback Still Resonates</h2>
"I can't see putting $50,000 or $60,000 into a car when our house was worth $10,000," Bird said, contrasting his small-town upbringing with NBA paychecks that, even then, dwarfed the median U.S. salary.
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<a href="https://hoopshype.com/player/larry-bird/salary/">HoopsHype</a> lists Bird's career on-court earnings at just over $24 million—solid money for the 1980s and early '90s, yet a rounding error next to today's contracts.&nbsp;
Data compiled by<a href="https://www.si.com/nba/whats-average-nba-salary-for-2024-25-season"> Sports Illustrated</a> show that the average NBA salary for the upcoming season is $11.9 million, a jump of 22 % since 2020 and nearly 600 times the price of Bird's childhood home.
Context matters. When Bird made his anti-luxury comment in 1985, the NBA salary cap stood at $3.6 million, and only Magic Johnson had cracked the $10 million mark.&nbsp;
Fast-forward to today: five players will earn over $50 million this season, Stephen Curry will take home $55.76 million, and the league projects its television deal to top $70 billion over 11 years. Against that backdrop, Bird's stance feels almost quaint—and perhaps instructive.
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Yet Bird's mindset remains consistent with research into millionaire habits. According to a Rich Habits <a href="https://richhabits.net/92-of-self-made-millionaires-do-not-own-a-luxury-automobile/">study</a>, 92% of self-made millionaires do not own luxury automobiles, and 55% purchase used cars—suggesting a preference for financial prudence over flashy spending.
Modern players occasionally channel that prudence. According to <a href="https://www.marketwatch.com/story/lakers-guard-austin-reaves-reveals-the-money-advice-he-got-from-will-ferrell-and-whether-lebron-james-is-actually-cheap-b0154fd8">MarketWatch</a>, Lakers guard Austin Reaves—who lived frugally on team-provided resources before signing a four-year, $54 million deal—says he's "not a big spender," avoiding new cars or houses and focusing on financial stability for his family, having taken to heart advice from actor Will Ferrell to <a href="https://www.benzinga.com/personal-finance/management/25/06/45949470/bail-yourself-out-warns-robert-kiyosaki-says-the-2025-crisis-could-be-worse-than-2008-and-savers-are-losers-in-this-economy">save</a> diligently. His anecdotes suggest Bird's philosophy hasn't vanished—it's just harder to spot amid sneaker deals and private-jet selfies.
"All my donations are sort of made under the table. I don't need the publicity — I'm not doing it for publicity," Bird said at the 2014 Indianapolis Pacers' Masquerade, according to <a href="https://www.indianapolismonthly.com/arts-and-culture/sports/larry-bird-masquerade-donations/">Indianapolis Monthly</a>, underscoring his reluctance to seek the limelight.
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Larry Bird Made $20 Million In The NBA — But Wouldn't Spend $60,000 On A Mercedes

Grant Cardone isn&#8217;t new to bold financial advice, but his latest take might be his most extreme yet. In a recent <a href="https://x.com/GrantCardone/status/1936489496784031951">post on X</a>, the real estate investor and author wrote: &#8220;80/20 rule: invest 80%, live on 20. It&#8217;ll be the hardest and best thing you&#8217;ve ever done, almost guaranteeing financial freedom &amp; generational wealth.&#8221;
<h2 class="wp-block-heading">Could 80/20 Be The New 50/30/20?</h2>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f451;80/20 rule: invest 80% live on 20. It'll be the hardest and best thing you've ever done, almost guaranteeing financial freedom &amp; generational wealth. 10XWealthPlan
&mdash; Grant Cardone (@GrantCardone) <a href="https://twitter.com/GrantCardone/status/1936489496784031951?ref_src=twsrc%5Etfw">June 21, 2025</a></blockquote>
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Cardone&#8217;s version of the 80/20 rule is radically different from the more familiar <a href="https://www.benzinga.com/money/what-is-the-50-30-20">budgeting strategy</a> that splits income into 50% for needs, 30% for wants, and 20% for savings. That traditional method is designed to help people cover essentials, enjoy life, and put aside money for the future.
Cardone, on the other hand, flips that approach on its head. By recommending that people live on just 20% of their income and invest the remaining 80%, he argues that this level of discipline can be life-changing.&nbsp;
Still, for most people, especially those who live in expensive cities or have regular bills like childcare and loan payments, trying to live on just 20% of their income just doesn't work. Rent, health costs, commuting, and groceries can <a href="https://www.benzinga.com/personal-finance/management/25/06/46043948/no-one-warned-millennials-that-being-single-could-be-so-expensive-its-becoming-one-of">easily take up most of a paycheck</a>.&nbsp;
Unless someone earns far more than they spend, adopting this approach would require drastic lifestyle changes that many simply can&#8217;t afford.
Trending: This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, with minimum investments as low as $100</a>.
<h2 class="wp-block-heading">Focus Over Friction</h2>
This isn&#8217;t the first time Cardone has referenced an 80/20 rule. In April, he <a href="https://x.com/GrantCardone/status/1912968415322714406">posted on X</a>, &#8220;You can do anything as long as you don&#8217;t try to do everything.&#8221; The point? Focus your energy on the few efforts that create the biggest results. This idea ties into the original <a href="https://www.benzinga.com/personal-finance/25/04/44994956/grant-cardone-shares-a-secret-you-can-use-to-accomplish-big-goals-you-can-do-anything-as-long-as-you-dont-try-to-do-everything">Pareto principle</a>, which says that 80% of outcomes come from just 20% of actions.
Saying yes to one thing usually means giving up the chance to do something else. So Cardone encourages people to cut out low-impact tasks and focus only on what drives major results.
<h2 class="wp-block-heading">Is Cardone&#8217;s 80/20 Rule Realistic?</h2>
To be fair, living on just 20% of your income isn't realistic for everyone. With rent, food, and other everyday costs getting more expensive, the <a href="https://www.benzinga.com/money/how-to-create-a-budget">50/30/20 rule</a> works better for a lot of people. It helps you pay for what you need, enjoy some extras, and still put money toward savings or paying off debt.
But Cardone&#8217;s message is meant to push limits, not comfort zones. He&#8217;s not promising an easy path. He&#8217;s saying that <a href="https://www.benzinga.com/personal-finance/25/01/42771996/this-is-unhinged-a-reddit-user-asks-others-for-extreme-acts-of-frugality-they-witnessed-and-the-replies-are-shockingly-entertaining">extreme discipline</a> can result in extreme outcomes: financial freedom and long-term wealth.
&#8220;Focus is power,&#8221; one commenter replied to his X post. And that pretty much sums up the mindset Cardone promotes across all his financial advice.
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Image: Shutterstock

Grant Cardone Says 'Invest 80% Live On 20.' Calls It The Hardest And Best Thing—'Almost Guaranteeing Financial Freedom, Generational Wealth'

China is accelerating its move away from U.S. dollar-denominated assets, with the share of U.S. Treasuries and the Dollar in the country&#8217;s reserves reaching its lowest levels in over a decade. 
What Happened: On Thursday, The Kobeissi Letter, in a post on X, captured this dramatic shift, which began back in 2016 and has accelerated substantially in recent years.
&#8220;The share of US Treasury Holdings in total Chinese FX reserves has declined by 15 percentage points since 2016,&#8221; it says, with a chart highlighting the same. At the same time, its allocation to gold has risen nearly five percentage points to a record 6.8%, essentially doubling since 2022.
See Also: <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/06/46043344/why-are-central-banks-still-stockpiling-gold">Why Are Central Banks Still Stockpiling Gold?</a>
During this period, the People&#8217;s Bank of China has acquired 200 tonnes of gold in an effort to boost its hard assets, while <a href="https://www.benzinga.com/22/03/26149100/betting-against-bonds-our-freezing-of-russias-dollar-assets-will-likely-drive-china-away-from-u-s-tr">becoming less vulnerable</a> to Western sanctions and the dollar-based financial infrastructure.
The chart highlights an acceleration in the trend beginning in early 2022, when Western powers froze <a href="https://www.benzinga.com/news/24/02/37355108/russia-warns-of-eroding-trust-in-dollar-euro-over-potential-asset-seizure-to-aid-ukraine-the-reliabi">nearly $300 billion</a> worth of Russian assets following its invasion of Ukraine.
&#8220;Gold is more desired than ever,&#8221; the post concludes, capturing the growing global interest in the metal as a store of value amid economic uncertainty, persistent inflation, and sovereign risk.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">China is diversifying its currency reserves out of the US Dollar: The share of US Treasury Holdings in total Chinese FX reserves has declined by ~15 percentage points since 2016, to ~22%, near the lowest in at least 15 years. Over the same period, gold&#39;s share has risen ~5… <a href="https://t.co/uFa5bQTucg">pic.twitter.com/uFa5bQTucg</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1938277830141288618?ref_src=twsrc%5Etfw">June 26, 2025</a></blockquote>
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Why It Matters: China&#8217;s gold imports <a href="https://www.benzinga.com/markets/commodities/25/05/45617358/gold-demand-holds-firm-as-dollar-confidence-wavers">surged 73% year-over-year</a> in April 2025, after the People&#8217;s Bank eased restrictions on imports, to cater to the growing retail and institutional demand.
Analyst Rick Rule of Rule Investment Media attributes this to the absolute erosion of the dollar&#8217;s purchasing power. He says, &#8220;In the next 10 years, the U.S. dollar will lose about 75% of its purchasing power,&#8221; while adding that &#8220;It will do relatively well relative to other currencies, but it won't do well in the absolute sense.&#8221;
Harvard economist Kenneth Rogoff recently commented on the <a href="https://www.benzinga.com/real-estate/25/06/46115111/americans-are-not-prepared-says-harvard-economist-about-chinas-de-dollarization-interest-rates-are-going-to-be-higher-for-a-very-very-long-time">consequences of this trend</a>, saying that &#8220;Americans are not prepared&#8221; for the fiscal and monetary strain that de-dollarization is set to create going forward.
&#8220;I think real interest rates are going to be higher for a very, very long time,&#8221; Rogoff said. &#8220;That era of low interest rates is over.&#8221;
Price Action: The U.S. Dollar Index (DXY) just hit its lowest level since February 2022, trading at 97.298 against a basket of other currencies. 
This comes <a href="https://www.benzinga.com/news/25/06/46115346/trump-powell-fed-chairman-odds-dollar">amid growing concerns</a> of President Donald Trump appointing a &#8220;shadow chair&#8221; for the Fed well before Jerome Powell&#8217;s term ends in 2026. Since Trump took office in January, the index is down steeply, by 11%, dropping from 109.35.
Meanwhile, Gold spot prices are down 0.39%, trading at $3,318.12/oz at the time of writing this.
Photo Courtesy: Miha Creative on Shutterstock.com
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Government

Commodities

Federal Reserve

Trump Appointing A 'Shadow Chair' At The Fed Has Put Dollar Under Pressure, Meanwhile China Is Dumping The Greenback And Hoarding Gold

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) subsidiary Ring has introduced a new feature, Video Descriptions, powered by Gen AI, to enhance home security.
What Happened: The new feature, Video Descriptions, utilizes generative AI (Gen AI) to provide detailed alerts, distinguishing between urgent and everyday activities at a glance. This feature is currently available in beta for Ring Home Premium subscribers in the U.S. and Canada, according to an official announcement on Thursday.
Ring&#8217;s founder, Jamie Siminoff, stated that the company is leveraging the potential of Gen AI to shift more of the home security responsibility to Ring&#8217;s AI. Jamie further said, "Simultaneously, we will be adding custom anomaly alerts, which generate alerts only when something happens on your property that is an anomaly to your property.&#8221;
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Once enabled, the Video Descriptions feature will provide text descriptions of the motion activity captured by Ring doorbells and cameras, offering real-time details of the events. The descriptions are designed to be concise, allowing users to quickly determine if the activity requires their attention.
Ring also plans to combine multiple motion activities into a single alert and generate alerts only when something unusual happens on the user&#8217;s property.
Video Descriptions is currently being rolled out in beta to Ring Home Premium subscribers in the U.S. and Canada and can be enabled through the Ring app. The feature is compatible with all currently available Ring <a href="https://www.benzinga.com/24/12/42666738/how-apples-upcoming-smart-doorbell-compares-to-amazons-ring">doorbells</a> and cameras.
Why It Matters: The integration of AI in home security systems is becoming increasingly common. In June, <a href="https://www.benzinga.com/markets/tech/25/06/45739990/microsoft-brings-openais-sora-to-the-masses-with-free-ai-video-generator-in-bing-app-after-googles-veo-3-wowed-the-internet-heres-what-you-can-and-cant-do">Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</a> integrated OpenAI&#8217;s Sora model into its Bing app, allowing users to generate videos from text for free. This move by Ring further solidifies the trend of <a href="https://www.benzinga.com/media/25/01/42838001/amazons-ring-introduces-smart-smoke-alarms-at-ces-2025-boosting-home-security-with-pro-monitoring-features">AI-powered home security solutions</a>.
Price Action: On Thursday, Amazon (AMZN) closed at $217.12, up by 2.42% on the day. In after-hours trading, the stock rose slightly to $218.18, representing a 0.49% gain.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="967" height="142" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26224611/image-419.png" alt="" class="wp-image-964130" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26224611/image-419.png 967w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26224611/image-419-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26224611/image-419-768x113.png 768w" sizes="(max-width: 967px) 100vw, 967px" /></figure>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Markus Mainka / Shutterstock.com

 MSFT

Amazon's Ring Launches AI-Powered Video Descriptions To Enhance Home Security

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) co-founder Bill Gates has once again <a href="https://www.benzinga.com/25/03/44392153/bill-gates-cautions-trump-administration-his-foundation-cannot-bridge-global-health-funding-gaps-amid-usaid-cuts-reports">expressed his concerns</a> about the impact of continued U.S. cuts to global health aid, warning that these reductions could lead to an additional 8 million child deaths by 2040, citing a study.
What Happened: Sharing his Gates notes on X, formerly Twitter, Gates said he has worked in global health for over 25 years. &#8220;At this point, I know as much about improving health in poor countries as I do about software.&#8221;
He then highlighted concerns about the consequences of slashed funding for health initiatives. &#8220;So when the United States and other governments suddenly cut their aid budgets the way they&#8217;ve been doing, I know for a fact that more children will die.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/04/45090992/mark-zuckerberg-warns-of-serious-disadvantage-as-chinas-data-center-blitz-could-let-deepseek-leapfrog-us-ai-labs" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Warns Of ‘Serious Disadvantage&#8217; As China&#8217;s Data-Center Blitz Could Let DeepSeek Leapfrog US AI Labs</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">When the United States and other governments suddenly cut their aid budgets, I know for a fact that more children will die. Here's the proof I'm showing Congress. <a href="https://t.co/Oa05MTyDoU">https://t.co/Oa05MTyDoU</a>
&mdash; Bill Gates (@BillGates) <a href="https://twitter.com/BillGates/status/1937902974996738233?ref_src=twsrc%5Etfw">June 25, 2025</a></blockquote>
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He cited a Lancet <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5199076&amp;fbclid=IwY2xjawK33KhleHRuA2FlbQIxMQBicmlkETE4TExZd3ZHNFpSUXRsbXkwAR76ORhFayZzhN0m_kImLiBmaZ1BDAmshvRZvOqCucONgp5jVE5MRtFR9ZMM8A_aem_Zec5BpVMaTbVz-fsnnahgA">study</a> examining the long-term effects of reduced U.S. foreign aid projects that by 2040, an additional 8 million children could die before reaching age five.
Gates noted that the cuts are already being felt, with critical programs like tuberculosis detection and malaria prevention stalling and life-saving medication being delayed.
He also shared personal stories from his recent visits to Nigeria and Ethiopia, where he witnessed firsthand how the cuts to U.S. aid have disrupted local healthcare systems.
Despite these setbacks, Gates remains optimistic. &#8220;It's not too late to change course,&#8221; he said on Thursday, urging Congress to restore funding to vital programs like PEPFAR (the U.S. President&#8217;s Emergency Plan for AIDS Relief) and the Global Fund.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s not too late to change course. <a href="https://t.co/w4vD15se6I">https://t.co/w4vD15se6I</a>
&mdash; Bill Gates (@BillGates) <a href="https://twitter.com/BillGates/status/1938368126372253782?ref_src=twsrc%5Etfw">June 26, 2025</a></blockquote>
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Earlier this month, Gates, Chair of the Gates Foundation, pledged to direct most of the foundation's planned <a href="https://www.benzinga.com/news/esg/25/06/45739698/bill-gates-commits-majority-of-200-billion-foundation-budget-to-africa-over-next-20-years-amid-trumps-massive-usaid-cuts">$200 billion investment</a> over the next 20 years toward Africa.
He <a href="https://www.benzinga.com/markets/25/05/45286464/bill-gates-commits-99-of-his-remaining-fortune-to-gates-foundation-set-to-wind-down-in-20-years-somebody-should-give-more-money-than-i-did">has also criticized</a> Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk and Trump for backing abrupt cuts to USAID funding, warning that such actions could lead to the expiration of vital food and medicines and trigger a resurgence of diseases like measles, HIV and polio, particularly harming the world's poorest children.
Why It's Important: On Thursday, The Guardian <a href="https://www.theguardian.com/us-news/2025/jun/26/cancer-research-trump-nci-cuts-plan">reported</a> that experts and former officials warn that the Donald Trump administration's proposed 2026 budget, which slashes nearly $2.7 billion—or 37%—from the National Cancer Institute, could lead to more patient deaths by severely undermining cancer research efforts.
Last month, House Republicans proposed at least $880 billion in Medicaid reductions as the <a href="https://www.benzinga.com/general/health-care/25/05/45344596/house-republicans-push-880-billion-medicaid-cuts-to-renew-trump-tax-breaks-democrat-warns-millions-will-lose-their-health-care">primary cost-saving measure</a> to support Trump's $4.5 trillion tax break extension.
A <a href="https://www.benzinga.com/news/25/05/45307739/over-5-million-americans-risk-losing-health-coverage-by-2034-amid-proposed-gop-medicaid-cuts-cbo-fin">May analysis by the</a> Congressional Budget Office found that Republican proposals to cut Medicaid funding—aimed at supporting President Trump's tax and policy agenda—could lead to 2.3 to 8.6 million Americans losing coverage, with millions left uninsured by 2034 under various cost-saving scenarios.
Photo courtesy: Alexandros Michailidis / Shutterstock.com
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