Category: 3. Business

  • CDC reports ultraprocessed foods comprise more than half of the US diet | Health News

    CDC reports ultraprocessed foods comprise more than half of the US diet | Health News

    The findings come as Robert F Kennedy Jr advances plans to ‘Make America Healthy Again’ under President Donald Trump.

    The Centers for Disease Control and Prevention (CDC) in the United States has released the summary of a new survey confirming that ultra-processed foods make up a majority of Americans’ caloric intake.

    The study, published on Thursday, involved tracking the meals and snacks of Americans from August 2021 to August 2023.

    During that period, 55 percent of the calories consumed by Americans came from ultra-processed foods, according to a mean calculated by the survey authors.

    That number was even higher for younger people involved in the study. Youths ranging from age one to 18 reported that nearly 62 percent of their diet was highly processed. That number dipped to 53 percent among adults over age 19.

    Ultra-processed foods are common and can take a variety of forms, from pre-packaged snacks, frozen foods and bottled soda drinks.

    But Thursday’s findings are likely to add fuel to a campaign under Health and Human Services Secretary Robert F Kennedy Jr to reform the US diet, as part of his “Make America Healthy Again” campaign (MAHA).

    Just one day before the latest CDC numbers were published, Kennedy used his social media account to once again blame high-calorie, processed foods for a variety of ailments.

    “Genes don’t cause epidemics. They may provide a vulnerability, but you need an environmental toxin — and we know what it is. It’s sugar and ultra-processed foods,” Kennedy wrote on the platform X on Wednesday.

    Studies have repeatedly shown links between highly processed foods and detrimental health conditions like obesity, cardiovascular disease and diabetes.

    Kennedy, however, has been criticised for seeking “environmental toxins” to explain conditions like autism, which researchers largely believe to result from a variety of factors, including genetic ones.

    Thursday’s survey results are part of a long-running study tracking what American adults and children eat and drink on a daily basis through interviews, body measurements and laboratory testing.

    Known as the National Health and Nutrition Examination Survey (NHANES), the study has its limitations: Interviews rely on self-reported food consumption, for instance.

    But its origins stretch back to the 1960s, and since 1999, the study has continued without interruption, according to the CDC. About 5,000 people take part each year.

    In the latest edition of the survey, researchers found that income played a significant role in how much ultra-processed foods were consumed per household. High-income groups corresponded with lower mean percentages of highly processed foods consumed.

    This was particularly pronounced among adults. For those whose salaries were equivalent to 3.5 times the federal poverty level or more, a mean of 50.4 percent of their diet was comprised of processed foods.

    That number rose to 54.7 percent for those whose incomes were slightly above, at or below the federal poverty level.

    The survey also identified the primary culinary culprits behind Americans’ consumption of highly processed foods.

    Sandwiches, including burgers, were the highest source of ultra-processed foods, comprising 7.6 percent of the calories consumed by youth and 8.6 percent for adults. Sweet bakery foods were the next highest category, at 6.3 percent for minors and 5.2 percent for adults.

    Sweetened beverages and savoury snacks were also prominent sources of calories.

    But the study did contain some positive news, showing that the mean consumption of ultra-processed foods had decreased.

    In the survey period from 2013 to 2014, adults consumed a mean of 55.8 percent of their calories from highly processed items. But by the current period, that number slid to 53 percent.

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  • FiscalNote Reports Second Quarter 2025 Financial Results

    FiscalNote Reports Second Quarter 2025 Financial Results




    In Q2 2025, total operating expenses declined $6.5 million, or 18%, versus prior year, due primarily to the previously announced divestitures, ongoing efficiency measures and operating discipline initiatives, and the elimination of costs associated with sunset products.


    On a proforma basis, excluding amortization expense, stock-based compensation, the impact of the previously announced divestitures, transaction-related costs, severance, and other non-cash charges, Q2 2025 total operating expenses declined $3.6 million, or 15%.


    2025 Financial Guidance


    The Company’s financial guidance for 2025 incorporates the following considerations:


    • incremental cost savings related to operating discipline initiatives;


    • sunsetting of non-core products;


    • pacing of the migration to PolicyNote and the anticipated sales and customer retention benefits expected to accrue from this new consolidated customer interface;


    • current market volatility, in particular in the private sector, where macroeconomic unpredictability is likely to impact corporate buying decisions and timelines over the course of the year;


    • potential impact in the public sector due to changes in the federal government;


    • management’s expectations based on the most recent information available, subject to adjustment due to changes in business conditions across the year ended December 31, 2025;


    • the contribution in the first quarter 2025 of approximately $4.1 million of revenues and approximately $1.1 million of adjusted EBITDA related to Oxford Analytica and Dragonfly Intelligence, two businesses that the Company divested on March 31, 2025; and


    • the contribution in the first and second quarter 2025 of approximately $0.6 million of revenues and approximately $0.2 million of adjusted EBITDA related to TimeBase, a business the Company divested on July 1, 2025.


    Full Year 2025


    The Company reaffirms its guidance for full year 2025 total revenues of $94 to $100 million and adjusted EBITDA(4) of $10 to $12 million.


    3Q 2025


    The Company also guides to 3Q 2025 total revenues of $22 to $23 million and adjusted EBITDA(4) of ~$2 million.


    Strategic Review


    The Company’s Board of Directors along with its advisors continue to review the Company’s ongoing plans and evaluate all strategic value-maximizing options available to the Company. There can be no assurance that the strategic review will result in any transaction or other outcome. The Company has not set a timetable for completion of the review and does not intend to disclose developments or provide updates on the progress or status of the review unless and/or until it deems further disclosure is appropriate or required.


    Conference Call and Webcast


    Company management will host a conference call at 5:00 p.m. EDT today, Thursday, August 7, 2025, to discuss these financial results.


    LIVE



    REPLAY



    Footnotes








    (1)

     


    Non-GAAP measure. See “Non-GAAP Financial Measures” and the reconciliation tables for the definitions and reconciliations of these non-GAAP financial measures to the most closely related GAAP financial measures.


    (2)

     


    All financial information incorporated within this press release is unaudited.


    (3)

     


    “Annual Recurring Revenue” and “Net Revenue Retention” are key performance indicators (KPIs). See “Key Performance Indicators” for the definitions and important disclosures related to these measures.


    (4)

     


    Because of the variability of items impacting net income and the unpredictability of future events, management is unable to reconcile without unreasonable effort the Company’s forecasted adjusted EBITDA to a comparable GAAP measure. The unavailable information could have a significant impact on the non-GAAP measures.



    About FiscalNote


    FiscalNote (NYSE: NOTE) is the leading provider of AI-driven policy and regulatory intelligence solutions. By uniquely combining proprietary AI technology, comprehensive data, and decades of trusted analysis, FiscalNote helps customers efficiently manage political and business risk. Since 2013, FiscalNote has pioneered solutions that deliver critical insights, enabling effective decision making and giving organizations the competitive edge they need. Home to PolicyNote, CQ, Roll Call, VoterVoice, and many other industry-leading products and brands, FiscalNote serves thousands of customers worldwide with global offices in North America, Europe, and Asia. To learn more about FiscalNote and its suite of solutions, visit FiscalNote.com and follow @FiscalNote.


    Safe Harbor Statement


    Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or FiscalNote’s future financial or operating performance. For example, statements regarding FiscalNote’s financial outlook for future periods, expectations regarding profitability, capital resources and anticipated growth in the industry in which FiscalNote operates are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “pro forma,” “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology.


    Such forward-looking statements are subject to risks, uncertainties, and other important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.


    Factors that may impact such forward-looking statements include:


    • FiscalNote’s ability to successfully complete the closing of its pending senior and subordinated debt financing transactions as anticipated;


    • concentration of revenues from U.S. government agencies, changes in the U.S. government spending priorities, dependence on winning or renewing U.S. government contracts, delay, disruption or unavailability of funding on U.S. government contracts, and the U.S. government’s right to modify, delay, curtail or terminate contracts;


    • FiscalNote’s ability to successfully execute on its strategy to achieve and sustain organic growth through a focus on its core Policy business, including risks to FiscalNote’s ability to develop, enhance, and integrate its existing platforms, products, and services, bring highly useful, reliable, secure and innovative products, product features and services to market, attract new customers, retain existing customers, expand its products and service offerings with existing customers, expand into geographic markets or identify other opportunities for growth;


    • FiscalNote’s future capital requirements, as well as its ability to service its repayment obligations and maintain compliance with covenants and restrictions under its existing debt agreements;


    • demand for FiscalNote’s services and the drivers of that demand;


    • the impact of cost reduction initiatives undertaken by FiscalNote;


    • risks associated with international operations, including compliance complexity and costs, increased exposure to fluctuations in currency exchange rates, political, social and economic instability, and supply chain disruptions;


    • FiscalNote’s ability to introduce new features, integrations, capabilities, and enhancements to its products and services, as well as obtain and maintain accurate, comprehensive, or reliable data to support its products and services;


    • FiscalNote’s reliance on third-party systems and data, its ability to integrate such systems and data with its solutions and its potential inability to continue to support integration;


    • FiscalNote’s ability to maintain and improve its methods and technologies, and anticipate new methods or technologies, for data collection, organization, and analysis to support its products and services;


    • potential technical disruptions, cyberattacks, security, privacy or data breaches or other technical or security incidents that affect FiscalNote’s networks or systems or those of its service providers;


    • competition and competitive pressures in the markets in which FiscalNote operates, including larger well-funded companies shifting their existing business models to become more competitive with FiscalNote;


    • FiscalNote’s ability to comply with laws and regulations in connection with selling products and services to U.S. and foreign governments and other highly regulated industries;


    • FiscalNote’s ability to retain or recruit key personnel;


    • FiscalNote’s ability to adapt its products and services for changes in laws and regulations or public perception, or changes in the enforcement of such laws, relating to artificial intelligence, machine learning, data privacy and government contracts;


    • adverse general economic and market conditions reducing spending on our products and services;


    • the outcome of any known and unknown litigation and regulatory proceedings;


    • FiscalNote’s ability to maintain public company-quality internal control over financial reporting; and


    • FiscalNote’s ability to protect and maintain its brands and other intellectual property rights.


    These and other important factors discussed in FiscalNote’s SEC filings, including its most recent reports on Forms 10-K and 10-Q, particularly the “Risk Factors” sections of those reports, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by FiscalNote and its management, are inherently uncertain. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place reliance on forward-looking statements, which speak only as of the date they are made. FiscalNote undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

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  • Concentrix to Present at Upcoming Investor Conferences

    Concentrix to Present at Upcoming Investor Conferences

    NEWARK, Calif., Aug. 07, 2025 (GLOBE NEWSWIRE) — Concentrix Corporation (NASDAQ: CNXC), a global technology and services leader, today announced that members of its senior executive team will be participating in the following upcoming conferences:

    • Canaccord Genuity 45th Annual Growth Conference – Tuesday August 12, 2025, at the InterContinental Boston Hotel in Boston, MA. Concentrix will present at 1:00pm ET and host investor meetings.
    • 7th Annual Needham Virtual FinTech & Digital Transformation Conference – Thursday, August 14, 2025. Concentrix will host investor meetings.

    Any related webcasts will be accessible on the investor relations page of the Concentrix website under “Events and Presentations” at https://ir.concentrix.com/events-and-presentations.

    About us: Powering a World That Works

    Concentrix Corporation (NASDAQ: CNXC), a Fortune 500® company, is the global technology and services leader that powers the world’s best brands, today and into the future. We’re solution-focused, tech-powered, intelligence-fueled. Every day, we design, build, and run fully integrated, end-to-end solutions at speed and scale across the entire enterprise, helping over 2,000 clients solve their toughest business challenges. With unique data and insights, deep industry expertise, and advanced technology solutions, we’re the intelligent transformation partner that powers a world that works, helping companies become refreshingly simple to work, interact, and transact with. Delivering outcomes unimagined across every major vertical in 70+ markets. Virtually everywhere. Visit concentrix.com to learn more. 

    Investor Contact:
    Sara Buda
    Investor Relations
    Concentrix Corporation
    [email protected]
    (617) 331-0955

    From Fortune ©2025 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune 500 are registered trademarks of Fortune Media IP Limited and are used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse the products or services of Concentrix.

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  • S&P 500 eases with Eli Lilly; Nasdaq manages record closing high – Reuters

    1. S&P 500 eases with Eli Lilly; Nasdaq manages record closing high  Reuters
    2. Stocks making the biggest moves midday: Firefly Aerospace, Fortinet, Duolingo, Eli Lilly and more  CNBC
    3. Biggest stock movers Thursday: ABNB, DKNG, and more  MSN
    4. Top Stock Movers Now: DoorDash, Fortinet, Eli Lilly, and More  Yahoo Finance
    5. Stocks to Watch Recap: Eli Lilly, Firefly, DoorDash, TSMC  The Wall Street Journal

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  • Ontario seeks proposals for feasibility study on cross-Canada energy corridor – Reuters

    1. Ontario seeks proposals for feasibility study on cross-Canada energy corridor  Reuters
    2. Ont. government issues RFP to explore ways to establish new economic and energy corridor across provinces  Canadian Manufacturing
    3. Mayor wants Sarnia included in new east-west pipeline plans  The Sarnia Observer
    4. Ontario seeks study for new pipelines, rail lines between that province and Alberta  QP Briefing
    5. East-West pipeline feasibility study will look at Great Lakes: Ford  Barrie News

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  • Apollo Prices Offering of Senior NotesApollo Global Management

    Apollo Prices Offering of Senior NotesApollo Global Management

    NEW YORK, Aug. 07, 2025 (GLOBE NEWSWIRE) — Apollo Global Management, Inc. (NYSE: APO) (the “Issuer” and, together with its consolidated subsidiaries, “Apollo”) today announced that it has priced an offering (the “Offering”) of $500 million aggregate principal amount of its 5.150% Senior Notes due 2035 (the “notes”).

    The notes will be fully and unconditionally guaranteed by certain subsidiaries of the Issuer that are obligors under the Issuer’s outstanding debt securities. The Offering is expected to close on August 12, 2025, subject to customary closing conditions.

    The notes will bear interest at a rate of 5.150% per annum, payable semi-annually in arrears on February 12 and August 12 of each year, commencing on February 12, 2026.

    The net proceeds from the Offering will be approximately $495.5 million, after deducting the underwriting discount but before Offering expenses. Apollo intends to use the proceeds from the Offering for general corporate purposes, including to repay, upon the consummation of the previously announced acquisition of Bridge Investment Group Holdings Inc., all issued and outstanding senior secured notes of Bridge Investment Group Holdings LLC (“Bridge LLC”) (collectively, the “Bridge Senior Notes”) and certain other indebtedness of Bridge LLC, and to pay related fees and expenses in connection with the Offering and the use of proceeds therefrom.

    Citigroup Global Markets Inc., BofA Securities, Inc., Barclays Capital Inc. and Goldman Sachs & Co. LLC are acting as joint book-running managers. Apollo Global Securities, LLC, BMO Capital Markets Corp., BNP Paribas Securities Corp., HSBC Securities (USA) Inc., MUFG Securities Americas Inc., Drexel Hamilton, LLC and Siebert Williams Shank & Co., LLC are acting as co-managers for the Offering.

    The Offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the “SEC”). The Offering is being made by means of a prospectus and related preliminary prospectus supplement only. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is available on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting the joint book-running managers: Citigroup Global Markets Inc., telephone: 1-800-831-9146; BofA Securities, Inc., telephone: 1-800-294-1322; Barclays Capital Inc., telephone: 1-888-603-5847 and Goldman Sachs & Co. LLC, telephone: 1-866-471-2526.

    This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release shall not constitute a notice of redemption with respect to the Bridge Senior Notes.

    Forward-Looking Statements

    In this press release, references to “Apollo,” “we,” “us,” “our” and the “Company” refer collectively to Apollo Global Management, Inc. and its subsidiaries, or as the context may otherwise require. This press release may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the completion of, and the use of proceeds from, the sale of the notes, the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “target” or future or conditional verbs, such as “will,” “should,” “could,” or “may,” and variations of such words or similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to inflation, interest rate fluctuations and market conditions generally, international trade barriers, domestic or international political developments and other geopolitical events, including geopolitical tensions and hostilities, the impact of energy market dislocation, our ability to manage our growth, our ability to operate in highly competitive environments, the performance of the funds we manage, our ability to raise new funds, the variability of our revenues, earnings and cash flow, the accuracy of management’s assumptions and estimates, our dependence on certain key personnel, our use of leverage to finance our businesses and investments by the funds we manage, the ability of Athene Holding Ltd. (“Athene”) to maintain or improve financial strength ratings, the impact of Athene’s reinsurers failing to meet their assumed obligations, Athene’s ability to manage its business in a highly regulated industry, changes in our regulatory environment and tax status, and litigation risks, among others. We believe these factors include but are not limited to those described under the section entitled “Risk Factors” in the Issuer’s annual report on Form 10-K filed with the SEC on February 24, 2025, as such factors may be updated from time to time in the Issuer’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the Issuer’s other filings with the SEC. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of Apollo or any Apollo fund.

    Contacts

    For investors please contact:
    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    (212) 822-0540
    IR@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    (212) 822-0491
    communications@apollo.com

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  • Vistra sees electricity demand trending like it’s the 1990s, fueled by AI and crypto

    Vistra sees electricity demand trending like it’s the 1990s, fueled by AI and crypto

    By Steve Gelsi

    Vistra’s stock rallies after the power company reports that revenue came up short of expectations despite a boost from heat waves, but raises its outlook for profit potential next year

    Power companies have been scaling up facilities such as Constellation Energy’s Clinton nuclear plant in Illinois, shown above, to meet demand from AI and other needs.

    Vistra Corp.’s stock rose Thursday after the power company lifted its estimate for potential profitability next year, citing the rising demand for electricity to power data centers used for artificial intelligence and the mining of cryptocurrencies.

    On this front, Vistra said it has received a “ton of interest” in its effort to find more data-center power buyers for its Comanche Peak nuclear-power complex in Texas, but it declined to provide a timeline for completing a deal.

    The company also implied that President Donald Trump’s trade policies are supporting the new demand trend.

    Vistra (VST), which generates electricity from natural gas, nuclear and solar power, believes the increased demand is here to stay, as it was in the 1990s, when the internet and growing use of computing power changed the power-generation game.

    “While third-party forecast and utility estimates have wide variation, we continue to see a structural shift in electricity consumption, with recent growth in electricity demand across the country returning to pre-2000 trends after approximately two decades of stagnation,” said Chief Executive Jim Burke, according to an AlphaSense transcript of the call with analysts.

    While recent heat waves in the Northeast fueled a spike in demand not seen in about 14 years, Burke said the longer-term growth in energy use will top the current growth in peak energy demand. The reason is the increased use of existing power assets by large customers in the data-center, cryptocurrency and other industrial businesses.

    Read more about how nuclear power is being used to power data centers for AI.

    What’s also driving this new demand trend is the Trump administration’s push to drive investment into the U.S. to increase manufacturing capacity, which will require more electric power.

    See related: Nuclear-power stocks rise as Trump signs orders to aid sector. Progress may be slow, analyst warns.

    The stock rose 2.4% to $205.59 a share at the closing bell to reverse an earlier intraday loss of as much as 5.4%. The stock is now about 4% below its Aug. 4 record close of $214.06 a share.

    On the Comanche Peak data-center power deal, Burke said, “I feel very good about where things stand in getting a deal done.”

    Evercore ISI analyst Nicholas Amicucci reiterated an outperform rating on Vistra, increased his price target on the stock to $237 a share from $230 a share and said the company’s Comanche Peak update provided a lift to its stock price earlier in the day.

    “The interest in the company’s asset fleet seemingly only increases as time passes,” Amicucci said in a research note. “The incremental confidence conveyed by management suggests at least one [deal] by year-end 2025.”

    Second-quarter revenue rose 10.5% from a year ago to $4.25 billion but missed the FactSet consensus estimate of $4.74 billion, despite increased demand for power during the quarter.

    And net income fell 30% to $327 million, mostly because of higher expenses from plant outages. That topped the FactSet consensus of $274.6 million. The company did not provide an earnings-per-share number.

    On the bright side, Vistra said it increased the midpoint opportunity for 2026 adjusted earnings before interest, taxes, depreciation and amortization – a measure used by many to depict underlying profitability – to $6.8 billion in 2026, from its earlier projection of more than $6 billion.

    The company defined midpoint opportunities as its estimate of potential opportunities for adjusted Ebitda based on current market assumptions.

    Vistra’s stock has soared 48.5% in 2025, while the VanEck Uranium & Nuclear exchange-traded fund NLR has advanced 45.9% and the S&P 500 SPX has gained 7.6%.

    -Steve Gelsi

    This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

    (END) Dow Jones Newswires

    08-07-25 1632ET

    Copyright (c) 2025 Dow Jones & Company, Inc.

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  • Trump taps economic adviser to fill Fed vacancy temporarily : NPR

    Trump taps economic adviser to fill Fed vacancy temporarily : NPR

    President Trump plans to nominate White House economist Stephen Miran to fill a temporary vacancy on the Federal Reserve’s board of governors.

    Brendan Smialowski/AFP


    hide caption

    toggle caption

    Brendan Smialowski/AFP

    President Trump plans to nominate White House economist Stephen Miran to fill a six-month vacancy on the Federal Reserve’s board of governors.

    In a post on social media, Trump said he wants Miran to fill the board seat being vacated by Adriana Kugler, whose term expires at the end of January. Kugler announced last week she’s leaving the Fed six months early to return to a teaching post at Georgetown University.

    Trump said he will continue to search for a nominee to fill a new, 14-year term on the Fed board that begins early next year. The nominations are subject to Senate confirmation.

    Miran currently serves as chairman of the White House Council of Economic Advisers. He also held a post in the Treasury Department during Trump’s first term as president.

    Kugler’s departure gives Trump his first opening to shape the Fed board since returning to the White House. Trump has criticized Fed chairman Jerome Powell and his colleagues for not moving more aggressively to cut interest rates.

    Powell’s term as Fed chairman ends next May, although his term on the governing board runs through 2028. Powell has not said whether he plans to remain on the board once he steps down as chair.

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  • Expedia raises gross bookings, revenue growth forecast amid US travel demand recovery

    Expedia raises gross bookings, revenue growth forecast amid US travel demand recovery

    (Reuters) -Expedia raised its annual forecast for gross bookings and revenue growth on Thursday, amid a recovery of demand in the United States, sending the online travel company’s shares up more than 17% in extended trade.

    The Seattle-based company now expects, both, its gross bookings and revenue growth for 2025 to be between 3% to 5%, compared to prior forecast of 2% to 4%.

    Over the past month, many travel companies, including United Airlines and Wyndham Hotels, reported a rebound in U.S. demand after President Donald Trump’s tariff policies hurt travel spending in April.

    Total gross bookings for the second quarter came in at $30.4 billion, up 5% from last year. It posted quarterly booked room nights of 105.5 million, 7% higher than last year.

    The online travel platform’s adjusted profit rose 21% to $4.24 per share for the quarter, compared with average of analysts’ estimates of $4.10 per share, according to data compiled by LSEG.

    Revenue for the quarter ended June 30, rose 6% to $3.79 billion, compared to $3.56 billion, a year ago. Analysts, on average, expected $3.7 billion.

    (Reporting by Aishwarya Jain and Anshuman Tripathy in Bengaluru; Editing by Leroy Leo)

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  • Private Assets in 401(k)s: Trump Signs Order Easing Path for Access

    Private Assets in 401(k)s: Trump Signs Order Easing Path for Access

    President Donald Trump signed an executive order easing access to private equity, real estate, cryptocurrency and other alternative assets in 401(k)s, a major victory for industries looking to tap some of the roughly $12.5 trillion held in those retirement accounts.

    Trump signed the order Thursday, according to the White House. It directs the Labor Department to reevaluate guidance around alternative asset investments in retirement plans subject to the Employee Retirement Income Security Act of 1974 within six months.

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