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Trump's stock market scorecard leaves most Americans out

Plus: Warsh's Fed review team takes shape, and Meta faces E.U. addictive design ruling

Friday, July 10, 2026

Warsh assembles business titans and economists to lead Fed's sweeping policy review

Federal Reserve Chairman Kevin Warsh has named an A-list group of business leaders and academics to head the central bank's comprehensive policy review, signaling that the process will draw on deep private-sector and academic expertise. The 15 outside members will lead five task forces supported by Fed staff, and Warsh wants the review wrapped up before year-end. The stakes are high: Evercore ISI's Krishna Guha has noted that consequential Fed reforms typically require near-unanimous internal consent, meaning any recommendations will need to
survive both political scrutiny and internal Fed consensus to carry real weight. The composition and pace of the review will matter enormously to investors and businesses who depend on clarity about the Fed's future operating framework.
Read more at Quartz ›

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The Fed

Trump makes the stock market his scoreboard, but most Americans aren't invested

Donald Trump opened this week with a symbolic first: ringing the stock market's opening bell from the Oval Office. The moment crystallized a defining feature of his second term. Trump has cast Wall Street gains as a direct measure of his presidency, pointing to record equity prices as validation for policies ranging from the war with Iran to sweeping global tariffs and signature domestic legislation. The problem with that framing is structural: roughly four in 10 U.S. households own no stock at all, and the top 1% hold more than half of all
capital market investments. Economists warn that conflating financial market performance with broad household wellbeing misrepresents how most Americans experience the economy amid persistently high living costs.
The White House says Trump wants to widen ownership through government-seeded investment programs such as the newly launched Trump Accounts. Critics, however, note that the administration's reliance on equity markets as a political scoreboard creates a vulnerability: market selloffs have already shown they can pressure Trump into reversing major policy decisions. Watch whether the investment account push moves fast enough to broaden the ownership base before midterms force a sharper reckoning.
Read more at Reuters ›

Fed reform task forces earn early credibility, but consensus will be the hard part

Warsh's selection of foreign central bankers and Obama-era appointees for his Fed reform task forces has drawn strong early reviews for prioritizing expertise at a moment when other independent U.S. agencies are being stripped of it. The group, which also includes Trump fundraiser and tech investor Marc Andreessen, is seen as more evolutionary than revolutionary in its likely approach. Critically, recent Supreme Court rulings exempted the Fed from Trump's broad firing authority over independent agencies, giving Warsh room to operate without
daily political pressure — though translating a credible panel into durable reform will still require broad institutional buy-in.
Read more at Reuters ›

Japan's economy minister denies government will signal BOJ rate preferences in advance

Japan's Economy Minister Minoru Kiuchi pushed back Friday against growing market concern over political interference in monetary policy, saying the government would never convey in advance its preferences on Bank of Japan interest rate decisions. The reassurance follows alarm over a draft economic blueprint that emphasized monetary policy being guided to support a stronger economy while omitting a clause affirming the BOJ's legal independence. With Prime Minister Sanae Takaichi seen as dovish on rates, investors are watching closely for any
signal that political pressure could delay BOJ tightening and complicate inflation management.
Read more at Reuters ›

Sterling hits one-month high versus dollar as Bank of England rate signals support pound

The pound climbed to $1.345 on Friday, its strongest since June 15, and reached a one-year peak against the euro as markets assessed central bank responses to rising energy prices tied to the U.S.-Israeli war with Iran. Comments from Bank of England chief economist Huw Pill that interest rates will need to rise reinforced the view that the BOE has less room than the Fed or ECB to look through inflation. With no major U.K. data due, analysts said sterling's near-term direction will hinge on broader dollar moves, oil prices, and Middle East
headlines.
Read more at Reuters ›

Chip rebound powers markets higher even as U.S.-Iran truce remains fragile

A microchip-led rally on Thursday helped U.S. equities shrug off roiling Middle East tensions and the inflation risk posed by renewed hostilities between the U.S., Israel, and Iran. Beneath the surface, equity funding markets remain under pressure: the cost of financing stock positions via the repo market spiked 200 basis points above the federal funds rate on June 26, the highest since December 2024, according to Morgan Stanley data. Elevated leverage combined with near-record equity prices means any escalation in the Middle East conflict
could translate quickly into funding stress.
Read more at Reuters ›

Foreign investment pledges are piling up, but hard data on delivery remains thin

Trump extracted roughly $5 trillion in investment commitments from the EU, Asian nations, and Gulf states as leverage against his own tariffs, projecting totals as high as $21 trillion. But those figures far exceed what the White House ever enumerated, and deals can take years to close. Early data shows mixed signals: some measures suggest a surge in new foreign investment, while broader indicators point to investor caution. The gap between headline commitments and verifiable capital flows is a key risk for businesses and policymakers counting
on a genuine manufacturing buildout.
Read more at The Seattle Times ›

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Regulation & Trade

EU finds Meta's Instagram and Facebook violated rules on addictive design

European Union regulators have determined that Meta's Instagram and Facebook broke rules governing addictive design features, a ruling that could expose the company to significant fines and force changes to how its platforms engage users across the bloc. The finding is a major test of Europe's Digital Services Act enforcement machinery and signals that regulators are prepared to act against algorithmic practices they deem harmful, not just illegal content. For Meta and other U.S. platforms, the decision raises the cost of operating in Europe
and could set a template for similar probes elsewhere.
Read more at Quartz ›

Bank of England gains direct oversight of Amazon, Google, Oracle, and Microsoft cloud arms

Starting Monday, the Bank of England and the Financial Conduct Authority will directly regulate the U.K. operations of Amazon Web Services, Google Cloud, Oracle, and Microsoft, all designated critical third parties to the financial system. The firms must demonstrate adequate stress testing, report major incidents including cyberattacks and outages, and prove they are actively reducing systemic risk. The move reflects how deeply bank operations now depend on a handful of U.S. cloud providers, and it sets a precedent other regulators may follow.
Read more at The Guardian ›

Commerce Department eases UAE export controls, drawing conflict-of-interest fire over Trump stablecoin tie

The Commerce Department said it will favorably review export license applications involving MGX, the UAE-backed investment firm that used USD1, a stablecoin issued by Trump family-affiliated World Liberty Financial, for its $2 billion investment in Binance. Sen. Elizabeth Warren immediately called the provision corrupt, arguing Trump's financial stake in USD1 creates a direct conflict with U.S. policy toward the UAE. The rule, set for official publication July 14, also extends license exceptions to G42 and its cloud subsidiary Core42, raising
questions about whether commercial ties are shaping national security decisions.
Read more at CNBC ›

U.S. expands UAE access to AI chips, military items, and commercial satellites without licenses

The Commerce Department on Friday loosened export controls on the United Arab Emirates, moving it into a country grouping that allows broader license exceptions for military, dual-use, and advanced computing items. Companies including Amazon, Apple, and xAI operating in the UAE will no longer need licenses for AI chips and servers. Commerce cited the UAE's role in countering Iran and its proxies and its status as the largest U.S. trading partner in the Middle East, noting UAE foreign direct investment in the U.S. is valued at over $1 trillion.
The UAE will be the only non-member of multilateral export control regimes in its new grouping, a notable carve-out.
Read more at Reuters ›

Commerce finds aviation imports raise security concerns but recommends against new tariffs

The Commerce Department completed a national security investigation into imported commercial aircraft, jet engines, and parts, finding the U.S. industry too reliant on foreign supply chains, but Commerce Secretary Howard Lutnick recommended against imposing immediate tariffs. Aviation companies lobbied hard to keep tariffs off the sector after they were briefly imposed last year. Trump directed negotiations with trading partners to address the findings and reserved the right to act within six months if agreements are not reached, keeping the
tariff threat alive for Boeing's international suppliers and aircraft parts makers.
Read more at Reuters ›

EPA proposes rolling back heavy-truck pollution warranty rules, accepting a 12% hit to emissions limits

The Environmental Protection Agency is proposing to shorten the warranty period requiring truck engine pollution controls to function from 450,000 miles — the Biden-era standard — back down to 100,000 miles, a change the agency says could cut compliance costs by up to 50 percent for manufacturers. The EPA projects the shorter warranty will reduce the effectiveness of federal emissions limits by 12 percent in 2055. Strict new engine emissions standards from the Biden rule remain in place, but the reduced warranty period and a proposed delay in
applying standards to older engines give trucking companies significantly more flexibility.
Read more at The Hill ›

Ballots & The Vote

Trump fires remaining Election Assistance Commission members months before midterms

President Trump dismissed the remaining members of the bipartisan U.S. Election Assistance Commission with less than five months until midterm elections, invoking the Supreme Court's recent Slaughter decision, which gave presidents broader authority to remove members of independent federal agencies. The EAC is the only federal body devoted solely to election administration, certifying voting systems and setting guidelines for state and local officials. The White House said Trump reserved the right to remove commissioners not aligned with
securing elections. Democrats and voting rights advocates condemned the move as a power grab, and the dismissals follow a 2025 executive order — currently blocked by courts — directing the EAC to add proof-of-citizenship requirements to the federal voter registration form. Investors in election technology and state governments that depend on EAC certification and funding should watch how the commission's functions are handled during the vacancy.
Read more at NPR ›

Democrats and civil rights groups accuse Trump of trying to rig midterms after EAC firings

Trump's removal of the last three members of the Election Assistance Commission drew immediate condemnation from Democratic leaders and civil rights organizations, who called it a brazen attempt to control November's midterm elections. Senate Minority Leader Chuck Schumer linked the firings to Trump's own call for Republicans to take over voting administration. NAACP President Derrick Johnson accused Trump of trying to rig the election, framing the EAC dismantlement as part of broader efforts to limit voter participation ahead of what he said
would be a referendum on the administration's economic record.
Read more at The Guardian ›

Trump refuses to sign bipartisan housing bill, using it as leverage for elections legislation

Trump announced Friday he will not sign a bipartisan housing bill — already passed by Congress and set to become law at midnight regardless — to protest the Senate's failure to advance the Save America Act, his elections overhaul legislation. The housing bill had been framed by GOP leaders as a major economic achievement ahead of midterms, where cost-of-living concerns are expected to dominate. By dismissing the legislation as a yawn, Trump handed Democrats a political gift and undercut vulnerable Republican lawmakers who spent months
negotiating what would have been the largest housing affordability bill in a generation.
Read more at CNN ›

Bipartisan housing bill becomes law at midnight without Trump's signature

The bipartisan housing affordability bill is set to become law at midnight after Trump refused to sign it, citing frustration with Senate Republicans over their failure to pass election-related legislation. Because Congress had fully approved the bill, it advances without the president's signature. The episode is a notable political miscalculation for Trump, stripping Republicans of a celebratory moment on an issue — housing costs — that polls show weighs heavily on voters heading into the midterm cycle.
Read more at Quartz ›

Georgia investigates third-party groups after voter registration mailers reach deceased residents

Georgia Secretary of State Brad Raffensperger announced an investigation into Ready to Register and other third-party organizations after voter registration mailers were sent to deceased Georgians and other ineligible recipients, including, in one case, a deceased family dog. Officials said the groups likely used commercial databases with outdated information rather than Georgia's official voter rolls, which include continuous list maintenance and citizenship verification. The investigation will determine whether the mailings violate state law,
and the episode adds fuel to national debates over third-party voter registration practices.
Read more at CBS News ›

Georgia ballot audit finds 23 discrepancies in 1.1 million runoff ballots, confirming all results

A statewide ballot image audit of Georgia's June 16 runoff election confirmed the outcome of all 91 contests and found just 23 discrepancies among more than 1.1 million ballots, a 99.9979% accuracy rate, Secretary of State Brad Raffensperger announced Thursday. All discrepancies occurred on hand-marked ballots; machine-marked ballots were 100% accurate. A separate risk-limiting audit confirmed the same results. Officials projected that applying the same discrepancy rate to a five-million-ballot presidential election would produce roughly 3,500
discrepancies, underscoring both the system's reliability and the scale of potential error in high-turnout contests.
Read more at CBS News ›

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<div style="display:none;max-height:0;overflow:hidden;mso-hide:all;font-size:1px;line-height:1px;color:#ffffff;">Plus: Warsh's Fed review team takes shape, and Meta faces E.U. addictive design ruling</div>
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<tr><td style="padding:24px 0 12px;text-align:center;background:#0b1f3a;"><a href="https://www.ne16.com/t/10967713/226878389/10089308/0/1009503/?x=f62bb5bd"; target="_blank" rel="noopener noreferrer" style="color: #1a2d47; display: block; text-decoration: none;"><img src="https://editor.ne16.com/quartz-washington/quartz-washington.jpg"; alt="Quartz Washington" width="600" style="outline: none; text-decoration: none; display: block; width: 100%; max-width: 600px; max-height: 167px; height: auto; border: 0; margin: 0 auto;"></a><div
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<tr><td style="padding:24px 24px 24px;"><h1 style="margin:0 0 10px;font-family:Helvetica, Arial, sans-serif;font-size:30px;line-height:1.25;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145534/0/1009503/?99a670bd=OUQzNkQxOUU1NzQ3MTEzNTE4RTIwODJFQ0Y1OTQyM0M0RjYzNUE1RUJGQTg3QTdFNENCNkRDMkRBRUQyRDNCNw&x=594d59ec"; style="color: #0b1f3a; text-decoration: none;">Warsh assembles business titans and economists to lead Fed's sweeping policy review</a></h1><div style="font-size:18px;line-height:1.6;color:#1a1a1a;text-align:left;"><p
style="margin:0;">Federal Reserve Chairman Kevin Warsh has named an A-list group of business leaders and academics to head the central bank's comprehensive policy review, signaling that the process will draw on deep private-sector and academic expertise. The 15 outside members will lead five task forces supported by Fed staff, and Warsh wants the review wrapped up before year-end. The stakes are high: Evercore ISI's Krishna Guha has noted that consequential Fed reforms typically require near-unanimous internal consent, meaning any
recommendations will need to survive both political scrutiny and internal Fed consensus to carry real weight. The composition and pace of the review will matter enormously to investors and businesses who depend on clarity about the Fed's future operating framework.</p></div><div style="padding:8px 0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145534/0/1009503/?99a670bd=OUQzNkQxOUU1NzQ3MTEzNTE4RTIwODJFQ0Y1OTQyM0M0RjYzNUE1RUJGQTg3QTdFNENCNkRDMkRBRUQyRDNCNw&x=594d59ec"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at
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<tr><td style="padding:28px 24px 12px;"><div style="font-size:14px;letter-spacing:0px;font-weight:700;color:#1a2d47;border-bottom:2px solid #0b1f3a;padding-bottom:6px;">The Fed</div></td></tr>
<tr><td style="padding:12px 24px 12px;"><h3 style="margin:0 0 8px;font-family:Helvetica, Arial, sans-serif;font-size:24px;line-height:1.3;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145535/0/1009503/?x=3cbce085"; style="color: #0b1f3a; text-decoration: none;">Trump makes the stock market his scoreboard, but most Americans aren't invested</a></h3><div style="font-size:17px;line-height:1.6;color:#1a1a1a;text-align:left;"><p
style="margin:0;">Donald Trump opened this week with a symbolic first: ringing the stock market's opening bell from the Oval Office. The moment crystallized a defining feature of his second term. Trump has cast Wall Street gains as a direct measure of his presidency, pointing to record equity prices as validation for policies ranging from the war with Iran to sweeping global tariffs and signature domestic legislation. The problem with that framing is structural: roughly four in 10 U.S. households own no stock at all, and the top 1% hold more
than half of all capital market investments. Economists warn that conflating financial market performance with broad household wellbeing misrepresents how most Americans experience the economy amid persistently high living costs.</p><p style="margin:12px 0 0;">The White House says Trump wants to widen ownership through government-seeded investment programs such as the newly launched Trump Accounts. Critics, however, note that the administration's reliance on equity markets as a political scoreboard creates a vulnerability: market selloffs have
already shown they can pressure Trump into reversing major policy decisions. Watch whether the investment account push moves fast enough to broaden the ownership base before midterms force a sharper reckoning.</p></div><div style="padding:8px 0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145535/0/1009503/?x=3cbce085"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at Reuters ›</a></div></td></tr>
<tr><td style="padding:0 24px;"><div style="border-top:1px solid #e3e6eb;line-height:1px;font-size:1px;"> </div></td></tr>
<tr><td style="padding:12px 24px 12px;"><h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145536/0/1009503/?x=42cc38ab"; style="color: #0b1f3a; text-decoration: none;">Fed reform task forces earn early credibility, but consensus will be the hard part</a></h4><div style="font-size:16px;line-height:1.6;color:#1a1a1a;text-align:left;"><p style="margin:0;">Warsh's selection of foreign
central bankers and Obama-era appointees for his Fed reform task forces has drawn strong early reviews for prioritizing expertise at a moment when other independent U.S. agencies are being stripped of it. The group, which also includes Trump fundraiser and tech investor Marc Andreessen, is seen as more evolutionary than revolutionary in its likely approach. Critically, recent Supreme Court rulings exempted the Fed from Trump's broad firing authority over independent agencies, giving Warsh room to operate without daily political pressure —
though translating a credible panel into durable reform will still require broad institutional buy-in.</p></div><div style="padding:8px 0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145536/0/1009503/?x=42cc38ab"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at Reuters ›</a></div></td></tr>
<tr><td style="padding:0 24px;"><div style="border-top:1px solid #e3e6eb;line-height:1px;font-size:1px;"> </div></td></tr>
<tr><td style="padding:12px 24px 12px;"><h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145537/0/1009503/?x=a4313682"; style="color: #0b1f3a; text-decoration: none;">Japan's economy minister denies government will signal BOJ rate preferences in advance</a></h4><div style="font-size:16px;line-height:1.6;color:#1a1a1a;text-align:left;"><p style="margin:0;">Japan's Economy Minister Minoru
Kiuchi pushed back Friday against growing market concern over political interference in monetary policy, saying the government would never convey in advance its preferences on Bank of Japan interest rate decisions. The reassurance follows alarm over a draft economic blueprint that emphasized monetary policy being guided to support a stronger economy while omitting a clause affirming the BOJ's legal independence. With Prime Minister Sanae Takaichi seen as dovish on rates, investors are watching closely for any signal that political pressure
could delay BOJ tightening and complicate inflation management.</p></div><div style="padding:8px 0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145537/0/1009503/?x=a4313682"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at Reuters ›</a></div></td></tr>
<tr><td style="padding:0 24px;"><div style="border-top:1px solid #e3e6eb;line-height:1px;font-size:1px;"> </div></td></tr>
<tr><td style="padding:12px 24px 12px;"><h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145538/0/1009503/?x=41f7192c"; style="color: #0b1f3a; text-decoration: none;">Sterling hits one-month high versus dollar as Bank of England rate signals support pound</a></h4><div style="font-size:16px;line-height:1.6;color:#1a1a1a;text-align:left;"><p style="margin:0;">The pound climbed to $1.345 on Friday,
its strongest since June 15, and reached a one-year peak against the euro as markets assessed central bank responses to rising energy prices tied to the U.S.-Israeli war with Iran. Comments from Bank of England chief economist Huw Pill that interest rates will need to rise reinforced the view that the BOE has less room than the Fed or ECB to look through inflation. With no major U.K. data due, analysts said sterling's near-term direction will hinge on broader dollar moves, oil prices, and Middle East headlines.</p></div><div style="padding:8px
0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145538/0/1009503/?x=41f7192c"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at Reuters ›</a></div></td></tr>
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<tr><td style="padding:12px 24px 12px;"><h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145539/0/1009503/?x=afbf1cb2"; style="color: #0b1f3a; text-decoration: none;">Chip rebound powers markets higher even as U.S.-Iran truce remains fragile</a></h4><div style="font-size:16px;line-height:1.6;color:#1a1a1a;text-align:left;"><p style="margin:0;">A microchip-led rally on Thursday helped U.S. equities shrug off
roiling Middle East tensions and the inflation risk posed by renewed hostilities between the U.S., Israel, and Iran. Beneath the surface, equity funding markets remain under pressure: the cost of financing stock positions via the repo market spiked 200 basis points above the federal funds rate on June 26, the highest since December 2024, according to Morgan Stanley data. Elevated leverage combined with near-record equity prices means any escalation in the Middle East conflict could translate quickly into funding stress.</p></div><div
style="padding:8px 0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145539/0/1009503/?x=afbf1cb2"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at Reuters ›</a></div></td></tr>
<tr><td style="padding:0 24px;"><div style="border-top:1px solid #e3e6eb;line-height:1px;font-size:1px;"> </div></td></tr>
<tr><td style="padding:12px 24px 12px;"><h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145540/0/1009503/?x=85fa7466"; style="color: #0b1f3a; text-decoration: none;">Foreign investment pledges are piling up, but hard data on delivery remains thin</a></h4><div style="font-size:16px;line-height:1.6;color:#1a1a1a;text-align:left;"><p style="margin:0;">Trump extracted roughly $5 trillion in investment
commitments from the EU, Asian nations, and Gulf states as leverage against his own tariffs, projecting totals as high as $21 trillion. But those figures far exceed what the White House ever enumerated, and deals can take years to close. Early data shows mixed signals: some measures suggest a surge in new foreign investment, while broader indicators point to investor caution. The gap between headline commitments and verifiable capital flows is a key risk for businesses and policymakers counting on a genuine manufacturing buildout.</p></div><div
style="padding:8px 0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145540/0/1009503/?x=85fa7466"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at The Seattle Times ›</a></div></td></tr>
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<tr><td style="padding:28px 24px 12px;"><div style="font-size:14px;letter-spacing:0px;font-weight:700;color:#1a2d47;border-bottom:2px solid #0b1f3a;padding-bottom:6px;">Regulation & Trade</div></td></tr>
<tr><td style="padding:12px 24px 12px;"><h3 style="margin:0 0 8px;font-family:Helvetica, Arial, sans-serif;font-size:24px;line-height:1.3;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145541/0/1009503/?99a670bd=OUQzNkQxOUU1NzQ3MTEzNTE4RTIwODJFQ0Y1OTQyM0M0RjYzNUE1RUJGQTg3QTdFNENCNkRDMkRBRUQyRDNCNw&x=0dc5e5d5"; style="color: #0b1f3a; text-decoration: none;">EU finds Meta's Instagram and Facebook violated rules on addictive design</a></h3><div style="font-size:17px;line-height:1.6;color:#1a1a1a;text-align:left;"><p style="margin:0;">European Union
regulators have determined that Meta's Instagram and Facebook broke rules governing addictive design features, a ruling that could expose the company to significant fines and force changes to how its platforms engage users across the bloc. The finding is a major test of Europe's Digital Services Act enforcement machinery and signals that regulators are prepared to act against algorithmic practices they deem harmful, not just illegal content. For Meta and other U.S. platforms, the decision raises the cost of operating in Europe and could set a
template for similar probes elsewhere.</p></div><div style="padding:8px 0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145541/0/1009503/?99a670bd=OUQzNkQxOUU1NzQ3MTEzNTE4RTIwODJFQ0Y1OTQyM0M0RjYzNUE1RUJGQTg3QTdFNENCNkRDMkRBRUQyRDNCNw&x=0dc5e5d5"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at Quartz ›</a></div></td></tr>
<tr><td style="padding:0 24px;"><div style="border-top:1px solid #e3e6eb;line-height:1px;font-size:1px;"> </div></td></tr>
<tr><td style="padding:12px 24px 12px;"><h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145542/0/1009503/?x=0de1bc85"; style="color: #0b1f3a; text-decoration: none;">Bank of England gains direct oversight of Amazon, Google, Oracle, and Microsoft cloud arms</a></h4><div style="font-size:16px;line-height:1.6;color:#1a1a1a;text-align:left;"><p style="margin:0;">Starting
Monday, the Bank of England and the Financial Conduct Authority will directly regulate the U.K. operations of Amazon Web Services, Google Cloud, Oracle, and Microsoft, all designated critical third parties to the financial system. The firms must demonstrate adequate stress testing, report major incidents including cyberattacks and outages, and prove they are actively reducing systemic risk. The move reflects how deeply bank operations now depend on a handful of U.S. cloud providers, and it sets a precedent other regulators may
follow.</p></div><div style="padding:8px 0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145542/0/1009503/?x=0de1bc85"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at The Guardian ›</a></div></td></tr>
<tr><td style="padding:0 24px;"><div style="border-top:1px solid #e3e6eb;line-height:1px;font-size:1px;"> </div></td></tr>
<tr><td style="padding:12px 24px 12px;"><h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145543/0/1009503/?x=a0cc96e6"; style="color: #0b1f3a; text-decoration: none;">Commerce Department eases UAE export controls, drawing conflict-of-interest fire over Trump stablecoin tie</a></h4><div style="font-size:16px;line-height:1.6;color:#1a1a1a;text-align:left;"><p style="margin:0;">The Commerce Department said it will favorably
review export license applications involving MGX, the UAE-backed investment firm that used USD1, a stablecoin issued by Trump family-affiliated World Liberty Financial, for its $2 billion investment in Binance. Sen. Elizabeth Warren immediately called the provision corrupt, arguing Trump's financial stake in USD1 creates a direct conflict with U.S. policy toward the UAE. The rule, set for official publication July 14, also extends license exceptions to G42 and its cloud subsidiary Core42, raising questions about whether commercial ties are
shaping national security decisions.</p></div><div style="padding:8px 0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145543/0/1009503/?x=a0cc96e6"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at CNBC ›</a></div></td></tr>
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<tr><td style="padding:12px 24px 12px;"><h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145544/0/1009503/?x=e1299eba"; style="color: #0b1f3a; text-decoration: none;">U.S. expands UAE access to AI chips, military items, and commercial satellites without licenses</a></h4><div style="font-size:16px;line-height:1.6;color:#1a1a1a;text-align:left;"><p style="margin:0;">The
Commerce Department on Friday loosened export controls on the United Arab Emirates, moving it into a country grouping that allows broader license exceptions for military, dual-use, and advanced computing items. Companies including Amazon, Apple, and xAI operating in the UAE will no longer need licenses for AI chips and servers. Commerce cited the UAE's role in countering Iran and its proxies and its status as the largest U.S. trading partner in the Middle East, noting UAE foreign direct investment in the U.S. is valued at over $1 trillion. The
UAE will be the only non-member of multilateral export control regimes in its new grouping, a notable carve-out.</p></div><div style="padding:8px 0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145544/0/1009503/?x=e1299eba"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at Reuters ›</a></div></td></tr>
<tr><td style="padding:0 24px;"><div style="border-top:1px solid #e3e6eb;line-height:1px;font-size:1px;"> </div></td></tr>
<tr><td style="padding:12px 24px 12px;"><h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145545/0/1009503/?x=d9861a35"; style="color: #0b1f3a; text-decoration: none;">Commerce finds aviation imports raise security concerns but recommends against new tariffs</a></h4><div style="font-size:16px;line-height:1.6;color:#1a1a1a;text-align:left;"><p style="margin:0;">The Commerce
Department completed a national security investigation into imported commercial aircraft, jet engines, and parts, finding the U.S. industry too reliant on foreign supply chains, but Commerce Secretary Howard Lutnick recommended against imposing immediate tariffs. Aviation companies lobbied hard to keep tariffs off the sector after they were briefly imposed last year. Trump directed negotiations with trading partners to address the findings and reserved the right to act within six months if agreements are not reached, keeping the tariff threat
alive for Boeing's international suppliers and aircraft parts makers.</p></div><div style="padding:8px 0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145545/0/1009503/?x=d9861a35"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at Reuters ›</a></div></td></tr>
<tr><td style="padding:0 24px;"><div style="border-top:1px solid #e3e6eb;line-height:1px;font-size:1px;"> </div></td></tr>
<tr><td style="padding:12px 24px 12px;"><h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145546/0/1009503/?x=ec2af383"; style="color: #0b1f3a; text-decoration: none;">EPA proposes rolling back heavy-truck pollution warranty rules, accepting a 12% hit to emissions limits</a></h4><div style="font-size:16px;line-height:1.6;color:#1a1a1a;text-align:left;"><p style="margin:0;">The Environmental Protection
Agency is proposing to shorten the warranty period requiring truck engine pollution controls to function from 450,000 miles — the Biden-era standard — back down to 100,000 miles, a change the agency says could cut compliance costs by up to 50 percent for manufacturers. The EPA projects the shorter warranty will reduce the effectiveness of federal emissions limits by 12 percent in 2055. Strict new engine emissions standards from the Biden rule remain in place, but the reduced warranty period and a proposed delay in applying standards to older
engines give trucking companies significantly more flexibility.</p></div><div style="padding:8px 0 0;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145546/0/1009503/?x=ec2af383"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at The Hill ›</a></div></td></tr>
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<tr><td style="padding:28px 24px 12px;"><div style="font-size:14px;letter-spacing:0px;font-weight:700;color:#1a2d47;border-bottom:2px solid #0b1f3a;padding-bottom:6px;">Ballots & The Vote</div></td></tr>
<tr><td style="padding:12px 24px 12px;"><h3 style="margin:0 0 8px;font-family:Helvetica, Arial, sans-serif;font-size:24px;line-height:1.3;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145547/0/1009503/?x=9c515b86"; style="color: #0b1f3a; text-decoration: none;">Trump fires remaining Election Assistance Commission members months before midterms</a></h3><div style="font-size:17px;line-height:1.6;color:#1a1a1a;text-align:left;"><p style="margin:0;">President Trump dismissed the
remaining members of the bipartisan U.S. Election Assistance Commission with less than five months until midterm elections, invoking the Supreme Court's recent Slaughter decision, which gave presidents broader authority to remove members of independent federal agencies. The EAC is the only federal body devoted solely to election administration, certifying voting systems and setting guidelines for state and local officials. The White House said Trump reserved the right to remove commissioners not aligned with securing elections. Democrats and
voting rights advocates condemned the move as a power grab, and the dismissals follow a 2025 executive order — currently blocked by courts — directing the EAC to add proof-of-citizenship requirements to the federal voter registration form. Investors in election technology and state governments that depend on EAC certification and funding should watch how the commission's functions are handled during the vacancy.</p></div><div style="padding:8px 0 0;text-align:left;"><a
href="https://www.ne16.com/t/10967713/226878389/10145547/0/1009503/?x=9c515b86"; style="color: #1a2d47; text-decoration: none; font-weight: 600; font-size: 14px;">Read more at NPR ›</a></div></td></tr>
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<tr><td style="padding:12px 24px 12px;"><h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#0b1f3a;text-align:left;"><a href="https://www.ne16.com/t/10967713/226878389/10145548/0/1009503/?x=bf17b819"; style="color: #0b1f3a; text-decoration: none;">Democrats and civil rights groups accuse Trump of trying to rig midterms after EAC firings</a></h4><div style="font-size:16px;line-height:1.6