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Addentax Group

Addentax Group Corp is an investment holding company. The company through its operating subsidiaries functions in the following segments; Garment manufacturing; Logistics services; Property management and subleasing. It generates maximum revenue from the Logistics services segment which provides logistics services including storage, transportation, warehousing, handling, packaging, and order processing. It also provides customs declaration and tax clearance services to its customers who export goods overseas. Geographically, the company derives all of its revenue from China.

Addentax Group Corp

For most people, the dream of a four-day workweek feels like something you'd hear in a TED Talk, not a political pitch. But Sen. <a href="https://www.benzinga.com/news/politics/25/06/46106134/bernie-sanders-shares-first-thing-he-would-do-as-president-and-it-could-be-a-jab-at-elon-musk">Bernie Sanders</a> (I-VT) thinks it should be the new normal — especially with artificial intelligence rapidly reshaping the workplace.
<a href="https://youtu.be/mYVzme2fybU?si=RnCz8KEF8G47VJfG">Last month on "The Joe Rogan Experience,"</a> the former presidential candidate doubled down on his belief that AI shouldn't replace workers — it should relieve them.
"Technology is gonna work to improve us, not just the people who own the technology and the CEOs of large corporations," Sanders told Joe Rogan. "You are a worker, your productivity is increasing because we give you AI, right? Instead of throwing you out on the street, I'm gonna reduce <a href="https://www.benzinga.com/personal-finance/25/01/42914736/bernie-sanders-pushes-for-32-hour-work-weeks-with-no-pay-loss-it-is-time-to-reduce-the-stress-level-in-our-country">your workweek to 32 hours</a>."
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He's not alone in thinking AI will change everything. Elon Musk has warned that universal basic income might be necessary to support people who lose their jobs to AI. Bill Gates has said it will "certainly" replace jobs, and education experts are already recommending students focus on "AI-proof" degrees. The fear is real — and it's spreading.
But Sanders isn't calling for panic. He's calling for policy.
"If you're the president and President Sanders, we have this issue — the whole country is going to go automation, what do we do?" Rogan asked.
"First of all, we make the determination that we are not going to let a handful of CEOs make these decisions," Sanders replied. "They're going to be made by the American people."
His solution? Let the people benefit from the productivity gains — not just the executives and shareholders.
"One of the demands of the United Auto Workers strike was a 32-hour workweek," he said. "People thought Sean Fain, the union president, was crazy. But the idea is catching on."
Trending: BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a>
And he's right. Countries like the U.K., Iceland, and Spain have <a href="https://www.euronews.com/next/2024/02/02/the-four-day-week-which-countries-have-embraced-it-and-how-s-it-going-so-far">tested four-day workweeks with encouraging results</a>: less stress, more focus, no drop in productivity. In Scotland, civil servants are already working reduced hours. In Lithuania, parents with young children can opt into a 32-hour week. Belgium and the United Arab Emirates have adopted policies letting workers compress or shorten their workweeks, too.
"Let's use technology to benefit workers," Sanders urged. "That means give you more time with your family, with your friends, for education, whatever the hell you wanna do."
It's not just about work-life balance — it's about control. Sanders warned that without guardrails, companies will use AI as an excuse to cut costs and staff. "You're not gonna get sick," he said, mimicking how a CEO might view automation. "I can fix you a lot easier than paying for your healthcare."
His point? If we let corporations steer the AI ship, they'll cruise straight past worker rights. But if workers get a say, the rise of AI could mean shorter weeks, more time off, and a better quality of life — not mass unemployment.
"Not a radical idea," Sanders repeated. "There are companies around the world that are doing it with some success."
And in his view, the U.S. should be next.
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Image: Shutterstock

Personal Finance

Bernie Sanders Continues Push For 4-Day Workweek — Says AI Should Give You Free Time For Family, Friends Or 'Whatever The Hell You Wanna Do'

Interest in <a href="https://www.benzinga.com/topic/digital-assets">digital assets</a> has grown well beyond early adopters. As crypto continues to gain attention among mainstream investors, more individuals are considering it a serious part of their portfolios. This shift is creating <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46075963/wealthy-investors-want-crypto-advice-but-doubt-their-advisors-experience-report">new expectations for financial professionals</a>, as clients seek help in managing the risks and opportunities associated with digital asset investing.
A new <a href="https://coinshares.com/en/d/insights/survey/us-investors-survey-06-2025/">survey</a> by CoinShares polled 500 wealthy U.S. investors and found that 82% would be more likely to work with a financial advisor who offers crypto-related guidance. However, nearly one-third of respondents expressed concerns about their advisors' experience in the space.
Among crypto holders surveyed, 88% currently work with an advisor. Many said they expect a wide range of support, including secure investment options, risk management, tax and regulatory guidance, and help understanding newer areas like tokenization and decentralized finance.
The survey also noted several concerns that investors have about crypto, <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46056732/are-we-measuring-crypto-resilience-all-wrong-nodeops-ceo-says-on-chain-metrics-miss-the-point">including security risks</a>, regulatory uncertainty, and market volatility. These issues were commonly cited by both current holders and those considering entering the space.
Advisors' lack of personal experience with digital assets and unclear risk explanations were the most frequently mentioned red flags. Some respondents also highlighted outdated views on the cryptocurrency market as a concern.
The data suggest that while interest in crypto is rising, many investors remain cautious and want more guidance from their financial advisors before fully committing.
Photo: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Financial Advisors

New Survey Reveals What Wealthy Investors Really Think About Crypto

Jensen Huang, co-founder and CEO of Nvidia, is on the verge of overtaking investment guru&nbsp;Warren Buffett&nbsp;in terms of net worth, thanks to the skyrocketing value of his company.
What Happened:&nbsp;Huang&#8217;s net worth has skyrocketed to $142 billion, marking an impressive increase of $27.6 billion since the beginning of the year. 
This wealth explosion is primarily due to&nbsp;his roughly 3.5% stake in&nbsp;Nvidia Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>),&nbsp;the world&#8217;s most valuable public&nbsp;company at present.
Last week, Nvidia&#8217;s market cap momentarily reached the $4 trillion milestone, a historic first. The company&#8217;s stock has risen by 22% year-to-date, fueled by the robust demand for its computer chips in the AI technology sector.&nbsp;
Loop Capital analyst Ananda Baruah&nbsp;suggests that Nvidia&#8217;s market valuation could potentially reach a staggering $6 trillion, <a href="https://www.cnbc.com/2025/07/10/nvidia-ceo-jensen-huang-could-soon-be-richer-than-warren-buffett.html">reports</a> CNBC. 
Also Read: <a href="https://www.benzinga.com/tech/25/05/45485072/if-i-were-a-student-today-heres-how-id-use-ai-to-do-my-job-better-says-nvidia-ceo">If I Were A Student Today, Here&#8217;s How I&#8217;d Use AI To Do My Job Better, Says Nvidia CEO</a>
In contrast, Buffett&#8217;s net worth, currently estimated at $144 billion, has seen a modest increase of $2.19 billion since the start of the year. 
Despite the strong performance of his holding company,&nbsp;Berkshire Hathaway Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Huang could soon outstrip Buffett in the wealth rankings due to Nvidia&#8217;s rapid growth.
It&#8217;s important to note, however, that Nvidia&#8217;s business has faced considerable market volatility in 2025, and&nbsp;Huang&#8217;s net worth isn&#8217;t guaranteed&nbsp;to surpass Buffett&#8217;s. Despite these uncertainties, Nvidia has been on a roll on Wall Street since June.
Why It Matters: The potential shift in wealth rankings underscores the increasing value of technology companies, particularly those in the AI sector. 
Nvidia&#8217;s meteoric rise reflects the growing demand for advanced computer chips, a trend that is likely to continue as AI technology evolves. This could further bolster Huang&#8217;s net worth, potentially solidifying his position above Buffett. 
However, the volatile nature of the tech market means that this is far from certain. 
The coming months will reveal whether Huang can maintain his company&#8217;s impressive growth trajectory and secure his position in the wealth rankings.
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Image: Shutterstock

News

NVDA

Jensen Huang Is Closing in on Warren Buffett's Fortune And The Numbers Might Surprise You

The week was a rollercoaster ride for the cryptocurrency market. Bitcoin (BTC) led the charge, eyeing a staggering $120,000 mark, and paving the way for altcoins to rally. Dogecoin (DOGE), the original memecoin, also experienced a significant surge, riding the wave of the Bitcoin rally.
Meanwhile, crypto exchanges are setting their sights on neobanks, aiming to bridge the gap between traditional and crypto finance. Ethereum (ETH) continues to dominate the tokenized finance sector, becoming Wall Street&#8217;s preferred blockchain infrastructure. And finally, macro strategist Raoul Pal made a bold prediction for the future of the blockchain space.
Bitcoin, Ethereum, XRP, Dogecoin Extend Rally
The cryptocurrency market saw a significant surge over the weekend, led by Bitcoin&#8217;s run towards the $120,000 mark. This rally cleared the path for altcoins to follow suit.
<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46377385/bitcoin-ethereum-xrp-dogecoin-extend-rally-as-btc-eyes-120000">Read the full article here.</a>
Dogecoin Soars as Bitcoin Rally Ignites Memecoin Frenzy
Dogecoin, the original memecoin, captured significant gains as speculative enthusiasm washed over the crypto market. The surge came in direct sympathy with Bitcoin, which rocketed to a new all-time high of over $118,000.
<a href="https://www.benzinga.com/trading-ideas/movers/25/07/46375539/dogecoin-doge-soars-as-bitcoin-rally-ignites-memecoin-frenzy">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/22/11/29834951/mango-market-hacker-loses-millions-as-curve-price-manipulation-attempt-on-aave-backfires" target="_blank" rel="noreferrer noopener">Mango Market Hacker Loses Millions As Curve Price Manipulation Attempt on Aave Backfires &#8211; Benzinga</a>
Crypto Exchanges Eye Neobanks for Mainstream Finance Access
Crypto exchanges are looking to acquire neobanks to fast-track their path to dominance of emerging on-chain sectors. This trend is set to continue as blockchain businesses seek opportunities within traditional finance.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/07/46371679/crypto-exchanges-will-acquire-neobanks-to-access-mainstream-finance">Read the full article here.</a>
Ethereum, Not Solana, Is Wall Street&#8217;s &#8216;Preferred Choice&#8217;
Ethereum&#8217;s dominance in the tokenized finance sector shows no signs of slowing down. According to Fundstrat&#8217;s Tom Lee, Ethereum has become Wall Street&#8217;s go-to blockchain infrastructure, outperforming Solana in key institutional use cases.
<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46364023/tom-lee-ethereum-not-solana-is-the-preferred-choice-for-jp-morgan-robinhood-circle-to-build-on">Read the full article here.</a>
Raoul Pal Predicts &#8216;Insane&#8217; Demand for Blockchain
Macro strategist Raoul Pal predicted an &#8220;insane&#8221; demand for the blockchain space, foreseeing cryptocurrency becoming a $100 trillion asset class over the next 6-8 years.
<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46360502/raoul-pal-says-no-one-realizes-insane-incoming-demand-for-blockspace-predicts-crypto-will-become-100-trillion-asset-within-a-decade-as-bitcoin-smashes-118000">Read the full article here.</a>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>
Photo courtesy: Shutterstock

Crypto Market Soars, Dogecoin Rides The Wave And Big Predictions For Blockchain: This Week In Crypto

A new poll indicates that President Donald Trump&#8216;s contentious trade policies are causing apprehension among his own supporters, potentially influencing Republican backing in the run-up to 2026.
What Happened: A&nbsp;POLITICO-Public First poll&nbsp;carried out in June reveals that 25% to 50% of those&nbsp;who voted for Trump in&nbsp;2024 have voiced concerns about his tariff strategies, particularly his stance towards China. 
Merely half of the Trump voters surveyed believe that his tariffs on China, the globe&#8217;s second-largest economy, will be advantageous for American businesses.
This data presents a significant alert for Republicans, given President Trump&#8217;s focus on trade and his pledges to restore industries to the U.S. The <a href="https://www.politico.com/news/2025/07/12/donald-trump-trade-poll-00449708">poll </a>also discloses that Trump&#8217;s recent assertive&nbsp;tariff letters to other nations, threatening to levy substantial new tariff rates, have rekindled global trade disputes.
About 25% of self-identified 2024 Trump voters voiced last month that the president&#8217;s tariffs are adversely impacting the United States&#8217; capacity to negotiate improved trade agreements with other nations. 
The voters are&nbsp;evenly divided on whether Trump&nbsp;should possess the authority&nbsp;to unilaterally impose tariffs on&nbsp;other countries, with 45% supporting and 44% suggesting he should seek consent from Congress.
Also Read: <a href="https://www.benzinga.com/news/politics/25/07/46274724/donald-trumps-big-beautiful-bill-could-make-these-electric-vehicles-much-more-expensive-for-you">Donald Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Could Make These Electric Vehicles Much More Expensive For You</a>
Trump has declared another round of tariffs to be levied on August 1, asserting that these tariffs will bring &#8220;big money&#8221; to America. 
However, the costs of these tariffs are shouldered&nbsp;by the companies and individuals&nbsp;importing the goods, which often pass onto their consumers.
Despite Trump&#8217;s uncompromising&nbsp;approach to trade with China&nbsp;attracting increased scrutiny and criticism, his voters still have faith in him to ultimately negotiate a deal&nbsp;with China. 
Fifty-five percent of&nbsp;Trump 2024 voters stated it &#8220;will be difficult&#8221; to secure a deal with China, but they anticipate &#8220;Trump&nbsp;will be able to do&nbsp;it.&#8221;
Why It Matters: The poll results indicate a shift in the perception of Trump&#8217;s voter base towards his trade policies. This could potentially influence the Republican party&#8217;s strategy and approach towards trade policies in the future. 
The increased skepticism among his own voters could also impact Trump&#8217;s standing within his party, and his ability to push through his trade policies. 
The poll results also underscore the importance of public opinion in shaping policy decisions and the direction of political discourse.
Read Next
<a href="https://www.benzinga.com/news/politics/25/07/46264609/trump-reportedly-told-iran-it-was-ok-to-strike-back-after-us-attack-i-said-go-ahead-i-understand">Trump Reportedly Told Iran It Was OK To Strike Back After US Attack: &#8216;I Said, &#8216;Go Ahead, I Understand&#8221;</a>
Image: Shutterstock

Politics

Poll: Trump's Trade Policies Stir Doubts Among Supporters

Buying a starter home has rarely looked tougher. New National Association of Realtors data show just 1.14 million Americans bought their first house in 2024, barely a third of the 3.2 million who did so two decades ago and roughly half the historical norm.
What Happened: Realtors say the slide highlights how high prices and borrowing costs have pushed Gen Z and millennial buyers to the sidelines, often back to parents' homes or into long-term rentals, according to a <a href="https://fortune.com/2025/07/09/gen-z-millennial-homebuyer-housing-market/">report</a> by Fortune.
The median existing-home price now <a href="https://www.nar.realtor/newsroom/nar-existing-home-sales-report-shows-0-8-increase-in-may">tops</a> $422,000, according to NAR, meaning a typical buyer needs <a href="https://www.redfin.com/news/rent-vs-buy-income-gap-2025">about $117,000</a> in annual income to meet payments, which is nearly double what is required to rent the average apartment. With 30-year mortgage rates hovering near 7%, the monthly tab on that median house approaches before taxes and insurance only keep climbing.
First-time buyers are facing a &#8220;real mismatch&#8221; between what they've saved and what homes cost, said Los Angeles broker Tami Pardee, noting that a West LA condo now runs $940,000 and would carry payments more than $2,200 higher than local median rent. In Brooklyn, agent Alexandra Gupta said most entry buyers are dual-income professionals in their 30s, yet the &#8220;affordability gap&#8221; is huge. Many still need family help for the down payment.
See Also: <a href="https://www.benzinga.com/news/macro-notification/25/06/46070420/us-home-sales-sink-to-slowest-may-since-2009-as-mortgage-rates-and-record-prices-keep-buyers-on-the-sidelines">US Home Sales Sink To Slowest May Since 2009 As Mortgage Rates And Record Prices Keep Buyers On The Sidelines</a>
Why It Matters: NAR's latest <a href="https://www.nar.realtor/sites/default/files/2024-11/2024-profile-of-home-buyers-and-sellers-highlights-11-04-2024_2.pdf">profile</a> shows first-timers accounted for just 24% of all purchases last year, far below the pre-2008 norm of 40%. Rising cash offers, namely 26% of all deals and limited starter-home inventory have intensified competition for buyers without deep equity. Analysts say <a href="https://www.benzinga.com/real-estate/25/06/45712505/75-of-homebuyers-are-waiting-for-lower-rates-report-finds">relief hinges</a> on lower rates, faster wage growth and more construction of smaller houses, none of which appears imminent. &#8220;We're seeing a reshaping of the housing ladder," Gupta explains. &#8220;Some first-time buyers are turning to long-term renting or even co-living models because the idea of owning a home has become so out of reach," she added.
Until those fundamentals shift, the American dream of a <a href="https://www.benzinga.com/money/tips-first-time-homebuyers">first home</a> may stay on hold for millions of young adults who now need six-figure paychecks just to get a foot in the door.
Photo Courtesy: fizkes on Shutterstock.com
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</ul>

Financing

Gen Z Doomed To Pay Rent Forever? Number Of First-Time Buyers Shrink As Average House Tops $422,000

The tech world was abuzz over the week with major developments from Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>). From leadership changes to innovative product rumors, here&#8217;s a quick recap of the weekend&#8217;s top stories.
Jeff Williams to Exit Apple
Long-serving Chief Operating Officer of Apple, Jeff Williams, who was once considered a potential successor to Tim Cook, is set to retire later this year. The tech giant announced on Tuesday that Williams&#8217; COO duties will be handed over to Sabih Khan later this month.
<a href="https://www.benzinga.com/markets/tech/25/07/46311533/jeff-williams-once-tipped-as-tim-cooks-successor-to-retire-from-apple">Read the full article here.</a>
Meta Snags Apple&#8217;s AI Chief
Mark Zuckerberg&#8217;s Meta Platforms has reportedly lured Ruoming Pang, the AI model lead at Apple, with a hefty compensation package. Pang, who led the team responsible for training Apple&#8217;s foundational models, is the latest addition to Meta&#8217;s superintelligence efforts.
<a href="https://www.benzinga.com/markets/tech/25/07/46288145/mark-zuckerbergs-meta-lures-away-apple-ai-chief-ruoming-pang-with-tens-of-millions-compensation-package-report">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/markets/tech/25/07/46380875/openai-postpones-open-model-release-indefinitely-we-need-time-says-sam-altman" target="_blank" rel="noreferrer noopener">OpenAI Postpones Open Model Release Indefinitely: &#8216;We Need Time,&#8217; Says Sam Altman</a>
Apple&#8217;s Foldable iPhone on the Horizon
Apple is expected to join the foldable smartphone race with the anticipated launch of the iPhone Fold next year. The tech behemoth has reportedly been working on the foldable iPhone for years, ensuring specifications and production are up to standard before a full launch.
<a href="https://www.benzinga.com/markets/tech/25/07/46356024/apples-foldable-iphone-could-land-in-2026-and-leave-samsung-playing-catch-up">Read the full article here.</a>
Apple&#8217;s $60 Billion Acquisition Buzz
With a massive $60+ billion cash reserve, Apple is once again in the spotlight. As rivals advance in AI, investors are speculating whether it&#8217;s time for Apple to make a bold move. This discussion gained traction after Apple confirmed that COO Jeff Williams will retire in 2025.
<a href="https://www.benzinga.com/markets/tech/25/07/46348639/apple-acquisition-buzz-60-billion-cash-reserve">Read the full article here.</a>
Analysts Suggest Apple Needs Product-Focused CEO
Analysts from LightShed Partners have suggested that Apple should consider a change in leadership to prioritize product innovation, particularly in AI. This suggestion comes in the wake of the impending departure of Apple's COO, Jeff Williams.
<a href="https://www.benzinga.com/markets/tech/25/07/46337313/apple-needs-product-focused-ceo-say-analysts-as-tim-cook-faces-heat-over-ai-failures-and-innovation-slump">Read the full article here.</a>
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<li><a href="https://benzinga.com/news/22/10/29434093/elon-musk-teams-up-with-philippine-billionaire-for-satellite-internet-service-in-southeast-asia-repo" target="_blank" rel="noreferrer noopener">Elon Musk Teams Up With Philippine Billionaire For Satellite Internet Service In Southeast Asia: Report &#8211; Benzinga</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>
Photo courtesy: Akhenaton Images/Shutterstock

Tech

AAPL

Apple's Leadership Shake-Up, Meta's New Hire And The Anticipated iPhone Fold: This Week In Appleverse

The past week has been a whirlwind of economic and political events. From record-breaking customs duty collections to billionaire investors casting doubt on tariff outcomes, the week was filled with intriguing stories. Here&#8217;s a quick recap of the top five stories that made headlines.
US Customs Duty Collection Hits Record High
The U.S. Treasury Department announced that for the first time in history, the country&#8217;s customs duty collections have exceeded $100 billion in a fiscal year. The record-breaking collection for June 2025 alone was $27 billion, resulting in a surprising budget surplus for the month. The surge is largely attributed to President Donald Trump&#8217;s tariffs, which have become a significant revenue source for the federal government.
<a href="https://www.benzinga.com/news/politics/25/07/46380544/amid-trump-tariffs-us-customs-duty-collection-exceeds-100-billion-in-a-fiscal-year-for-the-first-time-report">Read the full article here.</a>
Ray Dalio Questions Effectiveness of Trump&#8217;s Tariffs
Billionaire investor Ray Dalio expressed skepticism about the potential effectiveness of President Trump&#8217;s tariffs in reviving U.S. manufacturing. He warned that the tariffs could deepen &#8220;stagflation&#8221; and may not deliver on promises to rejuvenate U.S. factory floors.
<a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46338641/ray-dalio-says-trumps-tariffs-are-theoretical-warns-they-may-not-bring-manufacturin">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/economics/macro-economic-events/25/05/45229287/trump-meets-with-newly-elected-canadian-pm-mark-carney-president-trump-says-we-wi" target="_blank" rel="noreferrer noopener">Trump Meets With Newly-Elected Canadian PM Mark Carney; President Trump Says We Will Have A Very Big Announcement Before Middle East Trip; Really Positive Announcement Thursday, Friday Or Monday Befor</a>
Peter Schiff Warns Against Trump&#8217;s Tax Cuts
Economist Peter Schiff cautioned that President Trump&#8217;s latest tax and spending package could harm the U.S. economy more than it helps. He argued that the tax cuts, which add to budget deficits, won&#8217;t stimulate economic growth but will instead lead to higher long-term interest rates and inflation.
<a href="https://www.benzinga.com/news/topics/25/07/46302822/peter-schiff-says-trumps-tax-cuts-wont-grow-the-economy-instead-he-warns-theyll-lead-to-higher-interest-rates-and-inflation">Read the full article here.</a>
Trump Threatens Brazil with 50% Tariffs
Tensions escalated between the United States and Brazil after President Trump threatened to impose 50% tariffs on imports from the South American nation. The threat came in a letter to Brazilian President Luiz Inácio Lula da Silva, in which Trump also called the trial of former President Jair Bolsonaro a &#8220;Witch Hunt.&#8221;
<a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46334793/trump-sends-lula-a-letter-imposing-50-tariffs-calls-bolsonaro-trial-a-witch-hunt-brazils-president-hits-back-will-not-accept-any-form-of-tutelage">Read the full article here.</a>
Craig Shapiro Criticizes Jerome Powell&#8217;s Legacy
Macro strategist Craig Shapiro criticized Fed Chair Jerome Powell&#8217;s tenure, alleging that the Federal Reserve under Powell has deviated from its core mission of serving the public. Shapiro accused the Fed of ceasing to fight inflation, deepening inequality, and quietly surrendering monetary control back to the U.S. Treasury.
<a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46267995/craig-shapiro-slams-jerome-powells-legacy-of-quiet-surrender-to-wall-street-and-the-us-treasury-no-longer-serves-the-public">Read the full article here.</a>
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</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>
Photo courtesy: Shutterstock

Economics

Trump's Tariffs, Tax Cuts, And Tensions With Brazil Stir The Pot: This Week In Economy

The week brought a mix of stories that stirred the pot in various sectors. From Bill Gates&#8217; warning about the devastating effects of USAID funding cuts on HIV programs in Africa, to the first June budget surplus since 2017 under Donald Trump&#8217;s administration, the news cycle was anything but dull. Let&#8217;s dive into the details.
Bill Gates Sounds Alarm on USAID Funding Cuts
Co-founder of Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Bill Gates, has expressed serious concerns about the impacts of U.S. aid cuts on HIV programs in Africa. Gates called for a reversal of the decision, highlighting the distressing conditions faced by an HIV doctor in Africa whose work relies on USAID and PEPFAR.
<a href="https://www.benzinga.com/news/health-care/25/07/46380959/bill-gates-warns-of-devestating-effects-of-usaid-funding-cuts-its-not-too-late-to-reverse-them">Read the full article here.</a>
Trump Delivers First June Budget Surplus Since 2017
The U.S. government recorded a surplus of just over $27 billion in June, marking the first June budget surplus since 2017. This turnaround was largely driven by a significant increase in tariff revenues, according to the Treasury Department.
<a href="https://www.benzinga.com/markets/equities/25/07/46377893/trump-delivers-first-june-budget-surplus-since-2017-thanks-to-tariffs">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/news/22/10/29370689/boris-johnson-tries-to-win-support-for-uk-pm-comeback-bid" target="_blank" rel="noreferrer noopener">Boris Johnson Tries To Win Support For UK PM Comeback Bid &#8211; Benzinga</a>
Deputy FBI Director Dan Bongino Considers Resignation
Amid tensions between the FBI and the Justice Department over the Jeffrey Epstein memo, Deputy FBI Director Dan Bongino is reportedly contemplating stepping down. This development follows a heated exchange with Attorney General Pam Bondi regarding the case's management.
<a href="https://www.benzinga.com/news/politics/25/07/46380999/deputy-fbi-director-dan-bongino-considers-resignation-amid-epstein-memo-fallout-report">Read the full article here.</a>
Fed HQ Renovation Costs Soar to $2.5 Billion
Office of Management and Budget Director Russ Vought accused Federal Reserve Chair Jerome Powell of gross fiscal mismanagement as the renovation costs for the Fed's headquarters have ballooned to $2.5 billion. The project includes terrace rooftop gardens, water features, VIP elevators, and premium marble fixtures.
<a href="https://www.benzinga.com/news/politics/25/07/46361722/jerome-powell-has-grossly-mismanaged-says-russ-vought-as-fed-hq-renovation-costs-soar-to-2-5-billion-the-palace-of-versailles-would-have-cost-3-billion">Read the full article here.</a>
Mike Pence Criticizes Trump&#8217;s Tariff Escalations
Former Vice President Mike Pence likened President Donald Trump&#8217;s escalating tariff war to &#8220;dismissing your front line in a football game.&#8221; Pence expressed his disagreement with Trump&#8217;s &#8220;permanent unilateral tariff barriers,&#8221; which he believes could alienate U.S. allies.
<a href="https://www.benzinga.com/news/politics/25/07/46360429/mike-pence-says-trumps-tariff-escalations-with-us-allies-are-like-dismissing-your-front-line-in-a-football-game">Read the full article here.</a>
Read Next:&nbsp;<a href="https://benzinga.com/news/24/09/40894933/kim-jong-uns-north-korea-outranks-china-as-russias-top-ally-in-ukraine-conflict-says-military-intell" target="_blank" rel="noreferrer noopener">Kim Jong Un&#8217;s North Korea Outranks China As Russia&#8217;s Top Ally In Ukraine Conflict, Says Military Intelligence Chief &#8211; Benzinga</a>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>
Photo courtesy: Maxim Elramsisy / Shutterstock.com

MSFT

Bill Gates' Warning, Trump's Surplus, And Bongino's Potential Exit: This Week In Politics

Mark Cuban made numerous deals during his time on hit show "Shark Tank," including many in categories he knew well like sports, entertainment and men's products.
Cuban may have broken one of his investment rules during the Season 14, episode 15 of "Shark Tank."
What Happened:&nbsp;Mark Cuban&nbsp;likes to invest in companies that have products he could see himself using or that could be used by the Dallas Mavericks, the National Basketball Association<a href="https://www.benzinga.com/general/entertainment/23/03/31348294/mark-cuban-has-a-new-role-in-life-to-prepare-for-after-investing-shark-tank-and-nba-success" target="_blank" rel="noreferrer noopener">&nbsp;team he owns.</a>
On a past episode of "Shark Tank," Cuban offered a deal for a company whose products he'll likely never use.
The Season 14, episode 15 of "Shark Tank" aired in early March and featured a pitch by makeup company Youthforia.
The company launched in April 2021 and had $2 million in sales prior to appearing on the episode, according to&nbsp;<a href="https://www.cnbc.com/2023/03/06/mark-cuban-shark-tank-deal-with-youthforia-is-for-daughters-wife.html" target="_blank" rel="noreferrer noopener">CNBC</a>. The company had seen some levels of viral success thanks to&nbsp;TikTok&nbsp;and mentions of its color-changing oil blush that reacts and blends into customers' skin. On TikTok,&nbsp;<a href="https://youthforia.co/" target="_blank" rel="noreferrer noopener">Youthforia&nbsp;</a>has over 130,000 followers and over three million likes.
The Sharks liked the TikTok success and were also impressed with the company's founder and CEO&nbsp;Fiona Co Chan.&nbsp;
Kevin O'Leary&nbsp;offered&nbsp;Co Chan $100,000 for 20% of the company along with a $300,000 loan and a cut of distribution pay.
"It's a bet on the jockey on this deal," O'Leary said of Co Chan. "You're really impressive."
Co Chan wanted to hear from the other Sharks, with Cuban and&nbsp;Barbara Corcoran&nbsp;not putting out bids yet. Co Chan tried to lure them in by saying there was a launch of more shades of blush coming, which neither was thrilled about.
"When you have something that's completely differentiated, you ride that, and you don't do anything else, because that just dilutes your efforts," Cuban said. "Sometimes, you shouldn't listen to your customers."
Co Chan turned to O'Leary and offered 5% equity for $400,000 and a 50 cent royalty for each unit sold by the company up to $500,000.
O'Leary countered with an $800,000 offer for 10% equity and a $1 royalty on each unit.
This is when Cuban decided to step in, offering $400,000 for 10% without a royalty and said the reason he was interested in the makeup brand was because his<a href="https://www.benzinga.com/news/22/08/28577562/what-its-like-to-have-mark-cuban-as-a-dad-you-dont-just-get-a-credit-card-2" target="_blank" rel="noreferrer noopener">&nbsp;daughters and wife</a>&nbsp;would "understand" the product, which he didn't.
Cuban offered to wear the color-changing blush himself as part of demos.
O'Leary countered with a $400,000 offer for 7.5% and a 75 cent royalty on sales up to $1 million.
Ultimately, Cuban got Co Chan to accept with his final offer of $400,000 for 8% and no royalties, which he offered "just to prove a point" and ended up&nbsp;beating O'Leary.
 You may not be a billionaire like Mark Cuban, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/46157351/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-71">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important:&nbsp;The company and Co Chan drew praise from the Sharks during portions of the pitch and after Cuban's offer was accepted.
Herjavec and Corcoran, who sat out on the offers, said they were impressed with Co Chan's negotiating skills.
"Kevin, you have to get up and leave the ‘Shark Tank,'" Herjavec said. "Fiona's taking your chair."
The offer for Youthforia that was accepted makes the first deal Cuban has ever done with a makeup brand, which could provide several lessons. Cuban has often stuck to his principles in investing in products that he would use himself or the Mavericks would use.
Hearing how much the other Sharks loved the company&#8217;s CEO and the product going viral on TikTok, Cuban trusted in his family and made the investment&nbsp;because he could see his daughters and wife using the product.&nbsp;
Youthforia is available on Amazon.com and also at&nbsp;Ulta Beauty&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>)&nbsp;stores. While we won't likely see the makeup products at Mavericks games in the future, they could end up becoming a staple in the Cuban household.
Cuban stepped away from "Shark Tank" after Season 16, which aired in May 2025.
"It's not being on TV that's made it special. It's sending a message to everybody that watches that the American dream is alive and well,"&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/10/41271567/mark-cuban-reflects-on-shark-tanks-enduring-success-the-american-dream-is-alive-and-well" target="_blank" rel="noreferrer noopener">Cuban said</a>&nbsp;on the "Life in Seven Songs"&nbsp;podcast of "Shark Tank."
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This story is part of a series of features on the subject of success,&nbsp;<a href="https://www.benzinga.com/topic/benzinga-inspire" target="_blank" rel="noreferrer noopener">Benzinga Inspire.</a>
This article was previously published by Benzinga and has been updated.
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Photo: Shutterstock

Entertainment

Entrepreneurship

Sports

Success Stories

ULTA

Cuban Broke His Own Rule—Invests $400,000 In Makeup He'll Never Use

For years, hitting a six-figure salary was considered a major milestone, a sign that you had officially &#8220;made it.&#8221; But in 2025, that benchmark doesn&#8217;t mean what it used to. A widely shared <a href="https://x.com/unusual_whales/status/1942553501814620607">post on X</a> citing the U.S. Bureau of Labor Statistics <a href="https://www.bls.gov/data/inflation_calculator.htm">calculator</a> noted that a $100,000 salary in January 2020 has the same buying power as $124,353 in April 2025.
Despite inflation cutting into its value, many people still treat $100,000 as a symbol of success.
<h2 class="wp-block-heading">A Cultural Milestone, But Not A Financial One Anymore</h2>
In a <a href="https://www.reddit.com/r/Salary/comments/1luz2tw/why_do_people_continue_to_use_six_figures_as/">Reddit</a> thread that shared the tweet and asked, &#8220;Why do people continue to use &#8216;six figures&#8217; as their standard of success for a given career?&#8221; one user put it simply: &#8220;Because it&#8217;s <a href="https://www.benzinga.com/personal-finance/management/25/07/46262294/is-earning-100k-year-in-the-u-s-easy-a-project-manager-says-it-requires-getting-off-your-ass-and-doing-more-than-working-fast-food">still hard to make 100K</a>.&#8221; Another noted, &#8220;Only 18% of individual Americans and only 34% of households make six figures or more.&#8221;
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Yet, the emotional weight attached to that number hasn't kept pace with economic reality. As one person said, &#8220;Emotions haven't kept up with inflation. If you're working towards six figures for 10 years, your emotions may not register that last year&#8217;s inflation made $100K more like $80K.&#8221;
People who recently crossed the six-figure mark expressed mixed feelings. &#8220;I hit six figures in 2024 and it made a huge positive impact on my life,&#8221; one person said. Another added, &#8220;I hit six figures pre-pandemic and it didn't feel as comfortable as I thought it would. It was a nice benchmark, but as I got older bills got higher, etc.&#8221;
A lot of the disillusionment comes from rising costs, especially housing, healthcare and childcare. &#8220;The childcare&#8217;s the killer,&#8221; one parent shared. &#8220;$2,500 per month with pickup before 5:30 or it's an additional fee. It was literally more cost-effective to retire my mother-in-law.&#8221;
Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. <a href="https://www.benzinga.com/money/masterworks">See which asset class has outpaced the S&amp;P 500 (1995-2024) – and with near-zero correlation.</a>
For those in <a href="https://www.benzinga.com/markets/25/05/45685741/the-cost-of-living-crisis-hits-hard-in-these-8-cities-where-you-need-to-earn-at-least-100k-to-live-c">high-cost areas</a>, the situation is even more stark. &#8220;That is almost exactly the median individual income in San Francisco,&#8221; one commenter said. &#8220;That makes sense,&#8221; they added, implying that even six figures just gets you by in some cities.
<h2 class="wp-block-heading">Still Symbolic, Still Out Of Reach For Many</h2>
Some argued the term still holds weight because of its cultural significance. &#8220;Same reason people use six feet to denote a tall person. People like round numbers,&#8221; one person commented. Others mentioned it as an emotional or generational touchstone: &#8220;It was kind of the gold standard for a lot of us growing up.&#8221;
But many agreed it&#8217;s time to update expectations. &#8220;$150K is the new ‘six figures,'&#8221; one person claimed. Another said, &#8220;Even $180K feels like the new $100K.&#8221;
See Also: <a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a>
Still, the thread was filled with reminders that <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/06/46128507/think-youll-make-100k-right-out-of-college-in-these-10-fields-you-might-be-ri">six figures</a> remain out of reach for most Americans. &#8220;I make 48K a year and I think six figures sounds really, really good,&#8221; one commenter said. Another added, &#8220;I&#8217;ve lived off of 30K for nearly a decade. 100K is more than enough to live off of when you consider just how poor you can actually be.&#8221;
Even those doing well financially recognized the disconnect. &#8220;I make six figures. 102K to be exact. I have a small house, a reliable car, and live comfortably,&#8221; one said. &#8220;Six figures is absolutely success, if you&#8217;re smart with your money.&#8221;
At the end of the day, six figures may no longer signal wealth, but it still signals something important: security. &#8220;$100K still puts you in the top 20% of individual incomes,&#8221; one person pointed out. &#8220;Just because it doesn&#8217;t have the same purchasing power as five, 10, or 20 years ago doesn&#8217;t mean it isn&#8217;t a lot more than most people are getting.&#8221;
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Image: Shutterstock

The Six-Figure Salary Was Once A Finish Line. Now It Feels Like The Starting Point For Basic Adulthood

Six Secret Service agents have been reportedly suspended without pay following a disciplinary review related to the attempted assassination of former President Donald Trump during a<a target="_blank" href="https://www.benzinga.com/news/politics/25/07/46381096/trump-administration-ordered-by-judge-to-stop-immigration-arrests-without-probable-cause-in-southern-california-report" rel="noreferrer noopener"> 2024 rally in Butler, Pennsylvania.</a>
The internal investigation concluded the officers failed to uphold key security protocols during the July event where 20-year-old Thomas Crooks opened fire on Trump, wounding him slightly and fatally striking an attendee, <a href="https://www.politico.com/news/2025/07/10/secret-service-suspends-agents-butler-shooting-00448223" target="_blank" rel="noreferrer noopener">reports </a>Politico.
The suspended agents have been reassigned to limited or administrative roles.
Also Read:<a target="_blank" href="https://www.benzinga.com/news/politics/25/07/46380710/trump-administration-lays-off-over-1350-state-department-employees-after-getting-supreme-court-go-ahead" rel="noreferrer noopener"> Trump Administration Lays Off Over 1,350 State Department Employees After Getting Supreme Court Go-Ahead</a>
Secret Service Director Kimberly Cheatle stepped down shortly after the incident as the agency came under intense scrutiny.
A separate independent probe, initiated by the Biden administration, pointed to major communication breakdowns and a "troubling&#8221; lack of judgment by field personnel during the rally.
The Butler incident, followed by a second attempt on Trump's life at his Florida golf resort weeks later, prompted bipartisan calls for an overhaul of agency protocols.
Lawmakers in both chambers demanded greater accountability and comprehensive reforms to the agency's event management and response structure, POLITICO adds.
A major point of failure, according to the internal report, was the disorganized coordination with local authorities.
While there had been sightings of the shooter prior to the attack, critical intelligence never reached Trump's security team.
Investigators found that communication among officers occurred via a disjointed stream of texts, emails, radio chatter, and phone calls, instead of a unified command system.
With Trump back in office, he appointed Sean Curran, who had been part of his security detail during the Butler attack, as the new agency director. In a statement, Curran stressed that the Secret Service had undertaken extensive internal reforms to prevent such failures in the future.
"I have kept my experience on July 13 top of mind, and the agency has taken many steps to ensure such an event can never be repeated in the future," he said. &#8220;Nothing is more important to the Secret Service than the safety and security of our protectees,&#8221; POLITICO adds.
Trump, <a target="_blank" href="https://www.foxnews.com/video/6375507942112" rel="noreferrer noopener">speaking </a>to Fox News, acknowledged that "mistakes&#8221; were made but expressed confidence in the agency's renewed direction. "They had a bad day," he said.
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Image: Shutterstock/Juli Hansen

Secret Service Suspends Six Agents After Butler Rally Failures Last Year — Trump Says 'They Had a Bad Day'

An investor sparked a lively debate on Reddit&#8217;s <a href="https://www.reddit.com/r/stocks/comments/1lu1gkx/can_someone_eli5_how_the_sp500_can_keep_an/">r/stocks</a> after asking a simple but heavy question: How can the <a href="https://www.benzinga.com/money/sp-500-price-prediction">S&amp;P 500 continue to grow</a> at an average annual rate of 10% for another 30 years?&nbsp;
The user pointed out that if the index maintains that pace, its market cap would double roughly every seven years, ballooning from $52 trillion today to around $900 trillion by 2055.
<h2 class="wp-block-heading">Inflation, Globalization And Productivity</h2>
That number sounded &#8220;really stupid and impossible&#8221; to the original poster, who noted that with <a href="https://www.benzinga.com/news/health-care/25/06/46133755/elon-musk-says-people-need-to-have-3-kids-to-avoid-population-collapse-says-this-is-to-make-up-for-people-who-have-one-or-none">declining birth rates</a> and slowing population growth, the math just didn't add up. "Where is all this money going to come from?" they asked. "Even if we assume inflation wipes out half of that $900 trillion in growth of the S&amp;P 500 in today's money, that's still a ridiculous increase that makes no sense."
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But many Redditors disagreed or at least explained why it's not as crazy as it sounds. One of the top comments framed it this way: "In 1995 the S&amp;P 500 market cap was ~$3T&#8230;&nbsp; Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) today are all individually larger than the entire S&amp;P 500 was in 1995. It's unfathomable."
Several investors pointed out that this kind of growth has happened before and could happen again because of inflation, global expansion and <a href="https://www.benzinga.com/economics/24/03/37594210/promising-signs-for-productivity">major leaps in productivity</a>.
&#8220;S&amp;P500 companies don't only sell in America," one added. "All the big U.S. companies are just getting started with their globalization," pointing to China and India and their <a href="https://www.benzinga.com/markets/equities/25/04/44851085/why-india-china-and-brazil-are-potential-safe-havens-for-investors">growing middle class</a>.&nbsp;
Another commenter chimed in: "Half the world&#8217;s population lives on $7 a day, so I would say there is room for plenty of growth even if population growth slows down."
Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. <a href="https://www.benzinga.com/money/masterworks">See which asset class has outpaced the S&amp;P 500 (1995-2024) – and with near-zero correlation.</a>
<h2 class="wp-block-heading">Not Everyone's Buying The Optimism</h2>
Other Redditors were more skeptical. For example, one said that population growth, a major tailwind in the past, is slowing down significantly. "Returns will not be what they have been on a market-wide level," they argued. "Large companies finding increased markets via globalization will not be enough."
Another user took issue with the assumption that historical trends will keep repeating. "You are assuming that the tailwinds of interest rates, taxes, suppression of labor wages will continue to trend the same way," they wrote. "Any of those trends continuing to the point we have multiple companies&#8230; having wealth bigger than many countries combined, could result in the kind of social unrest preventing that growth."
Still, others offered a middle-ground take: yes, inflation will play a big role, and yes, some technological innovations might drive value, but don't expect a repeat of the past 30 years. "Past performance does not indicate future results," one person reminded.
See Also: <a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a>
<h2 class="wp-block-heading">A Bet On Innovation Or Just Inflation?</h2>
Many pointed to advancements in AI, renewable energy, automation and healthcare as areas that could push corporate profits higher, even with slower consumer growth. "Humans are a dynamic, innovative species," one commenter said. "We may well find the world unrecognizable in 30 years."
Others focused on the U.S. dollar itself. "If you divide the S&amp;P 500 over the money supply, you get almost a constant," they argued. "It has never been true growth&#8230; just almost keeping purchasing power."
So, is the idea of a $900 trillion S&amp;P 500 absurd? Depends on who you ask. But most Redditors agreed on one thing: inflation will do a lot of the heavy lifting, and whether it's real growth or just more dollars chasing assets, the index might keep climbing.
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A $900 Trillion S&P 500? Reddit Debates The Math Behind 10% Market Growth Rate For Another 30+ Years

Elon Musk has found himself at odds with President Donald Trump, a situation that was foreseen by Sam Altman, CEO of OpenAI. 
The disagreement has been triggered by Musk&#8217;s criticism of the Trump administration and the President&#8217;s subsequent threat to pull government subsidies from Musk&#8217;s business ventures.
The alliance between Musk and Trump has been strained following Musk&#8217;s critique of the White House&#8217;s decision-making. 
Musk was particularly critical of Trump&#8217;s Big, Beautiful Bill, claiming it reversed all the budgetary efficiencies achieved by the Department of Government Efficiency (DOGE) and would push the country deeper into debt.
Altman, who had a falling out with Musk in 2018, was not taken aback by the development. Talking to reporters he <a href="https://www.youtube.com/watch?v=nStQhons8u0">said</a>, &#8220;Elon busts up with everybody, that's what he does.&#8221; 
Altman and Musk were among the founding partners of OpenAI, but their relationship deteriorated over time, resulting in Musk&#8217;s exit from the company.
Also Read: <a href="https://www.benzinga.com/25/03/44348000/elon-musk-and-sam-altman-just-agreed-on-one-thingand-no-its-not-a-business-deal">Elon Musk And Sam Altman Just Agreed On One Thing—And No, It&#8217;s Not A Business Deal</a>
After the fallout, Trump expressed his disappointment in Musk&nbsp;and threatened to withdraw government&nbsp;subsidies from Musk&#8217;s private ventures. Despite the disagreement,&nbsp;former Commerce Secretary Wilbur Ross&nbsp;told Fortune that a fallout between the two influential figures was inevitable.
Musk has yet to comment on the fallout. In the meantime, Altman is also dealing with challenges from other tech giants, including Mark Zuckerberg&#8216;s super intelligence research lab at Meta, which has been poaching talent from OpenAI.
The fallout between Musk and Trump could have significant implications for Musk&#8217;s businesses, particularly Tesla, which has benefited from government subsidies. 
The strained relationship could also impact the broader tech industry, given both Musk&#8217;s and Trump&#8217;s influence. 
Furthermore, the ongoing talent war between OpenAI and Meta underscores the intense competition in the tech industry, particularly in the field of artificial intelligence.
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Trump Vs Musk: Sam Altman Saw the Signs: 'Elon Busts Up With Everybody, That's What He Does'

Canadian Prime Minister Mark Carney is under mounting pressure as he navigates contentious trade talks with the United States amid fresh threats from President Donald Trump to impose a 35% tariff on <a target="_blank" href="https://www.benzinga.com/markets/macro-economic-events/25/06/46158982/trumps-canada-trade-flip-oil-market-shock-and-nvidias-rise-to-the-top-this-week-in-economy" rel="noreferrer noopener">Canadian imports starting August 1.</a>
Trump&#8217;s latest warning arrives while both nations are in the midst of hammering out a broader trade agreement—talks that have grown increasingly tense following several concessions from Ottawa.
These include a recent rollback of a proposed Digital Services Tax targeting tech giants, after Washington vowed to end trade talks unless the plan was scrapped, <a target="_blank" href="https://www.bbc.com/news/articles/cvg81518yyyo" rel="noreferrer noopener">reports </a>BBC News.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/25/07/46382047/trump-targets-mexico-eu-with-30-tariffs" rel="noreferrer noopener">Trump Targets Mexico, EU With 30% Tariffs</a>
Carney&#8217;s approach, once symbolized by a combative &#8220;elbows up&#8221; hockey metaphor, is now being questioned across the political spectrum.
Analysts and commentators have described his trade posture as inconsistent, with Canadian columnist Robyn Urback likening it to a &#8220;chicken dance.&#8221; Critics argue that caving on the digital tax and not responding to recent tariff escalations on steel and aluminum undermines his promise of standing firm against U.S. pressure.
While Carney&#8217;s government continues to enjoy strong domestic support in polls, some political scientists say the prime minister&#8217;s broader strategy—pursuing an expansive trade and security deal—lacks coherence.
Blayne Haggart, a professor at Brock University, said Canada&#8217;s recent reversals have accomplished &#8220;less than nothing.&#8221;
Others, like former government adviser Roland Paris, argue it&#8217;s too soon to judge and that the final agreement will determine whether Carney capitulated or played a smart long game.
Trump&#8217;s tariff warning letter also revived his criticism of Canadian drug policy, accusing Ottawa of not doing enough to curb fentanyl flow across the border.
Despite the friction, Carney has avoided retaliatory action and reiterated Canada&#8217;s commitment to protecting its workers and industries.
The U.S.-Mexico-Canada Agreement remains intact for now, exempting many Canadian goods from the threatened 35% tariff.
Canadian politicians across party lines have presented a united front. Pierre Poilievre, the Conservative leader, pledged full support to secure a strong deal, while British Columbia Premier David Eby emphasized national unity.
Experts, including Carleton University&#8217;s Fen Hampson, caution against judging the talks prematurely, pointing out that American businesses would also suffer from the tariffs and that Carney has made moves to diversify trade, including with the EU.
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Carney Faces Cross-Border Pressure Amid High-Stakes US Trade Talks

When 24-year-old Matt called into <a href="https://youtu.be/BVQGi9FJPeg?si=jT1l3poYraf9AkyE">"EntreLeadership" to speak with Dave Ramsey</a>, he wasn't looking for a pep talk. He opened with brutal honesty: "I have $260,000 in super crappy debt," and admitted he spent client deposits to cover payroll and past mistakes. "Now I'm screwed," he said.
Matt owns a remodeling business pulling in $750,000 a year with six full-time employees. But the books? A disaster. He racked up $185,000 in debt with credit cards, merchant cash advances, and bank loans. Then there's another $72,000 in unpaid vendor bills.
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And the worst part? He used money from new clients to patch up the old mess.
"I made some super silly decisions and didn't have a lot of financial clarity when I took these deposits," he said. "A lot of those deposits went towards kind of cash flowing the business and making up for losses on past projects."
Translation: He started projects with no cash to actually finish them.
One client paid him $128,000 up front for a $256,000 home addition — and the money's long gone. "We used that to float the business for the past six months," Matt admitted. Ramsey didn't need to say it out loud, but he did anyway: "They're going to go ballistic at some point — and rightly so."
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And it gets worse. Another project came with a $45,000 cabinet bill. Matt said he fears the vendor might slap a mechanics lien on the client's house because he can't pay up.
Still, Matt hasn't thrown in the towel. In fact, he's clawing his way back by focusing on smaller jobs with faster turnarounds — the kind that pay quicker and hurt less if something goes sideways.
Ramsey's advice was blunt but actionable: "Go take a bunch of short-term projects. Prioritize where every dollar goes. You've got to start generating some cash."
Ramsey told him to avoid large jobs for now and stick to the "quick-turn ankle-biters." If Matt can pull off $500,000 to $800,000 in these smaller gigs over the next year — at a 40% margin — he could work his way out of the hole.
See Also: <a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a>
That doesn't mean it'll be fun. "You're working for the mess you made," Ramsey said. "And you can clean it up, but you're going to pay for your sins by having no life for the next eight months."
Still, Ramsey <a href="https://www.benzinga.com/personal-finance/management/25/07/46285325/son-wants-to-cash-out-on-dads-6-million-business-dave-ramsey-brings-up-a-teary-man-who-regretted-selling-for-400-million">thinks the business can make it</a> — and maybe even thrive — if Matt stays focused, keeps job costs separate, and never touches deposit money until the job is finished.
Lesson learned? "Absolutely not doing that again," Matt said.
One more <a href="https://www.benzinga.com/personal-finance/management/25/07/46319259/dave-ramsey-warns-a-28-year-old-to-avoid-investing-in-a-business-with-zero-experience-you-have-no-freaking-idea-what-youre-getting-into">hard-earned win for experience</a>. And a cautionary tale for every business owner who thinks a deposit is just free cash. It's not. Ask Matt.
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24-Year-Old Used Client Deposits To Pay Off Debt —Now He's $260K Down And Dave Ramsey Warns, 'They're Going To Go Ballistic'

Tucker Carlson, the former Fox News host, has alleged that the late financier Jeffrey Epstein was a pawn in the hands of Israeli intelligence, tasked with <a href="https://www.benzinga.com/news/politics/25/07/46264647/elon-musk-renews-demand-for-jeffrey-epstein-files-release-weeks-after-alleging-trump-is-named-in-them">blackmailing American politicians</a>.
Carlson made these contentious claims&nbsp;at a Turning Point USA&nbsp;summit held in Tampa on Friday. He raised questions about Epstein&#8217;s sudden accumulation of wealth and his influential connections, hinting at the possibility of Epstein being a tool for a foreign intelligence service, specifically Israel&#8217;s Mossad.
The Department of Justice recently&nbsp;concluded that Epstein did not&nbsp;have a rumored list of influential clients. This conclusion was a letdown for many supporters of President Donald Trump, who were anticipating a full disclosure of Epstein-related materials.
"The real question was not, was Jeffrey Epstein a weirdo? The real question was why was he doing this, on whose behalf, and where was the money coming from? I think the real answer is Jeffrey Epstein was working on behalf of intel services, probably not American, that foreign government is Israel.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x26a1;&#xFE0F;Tucker Carlson says Epstein was &quot;working on behalf&quot; of Israel and Israel was &quot;committing crimes&quot; on American soil. <a href="https://t.co/lQBZpoXD4N">pic.twitter.com/lQBZpoXD4N</a>
&mdash; War Monitor (@WarMonitors) <a href="https://twitter.com/WarMonitors/status/1943839948559593634?ref_src=twsrc%5Etfw">July 12, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Carlson took a jab at those defending the DOJ&#8217;s findings, emphasizing the need to scrutinize Epstein&#8217;s activities and sources of funding. He maintained that there was no anti-Semitic intent in suggesting that Epstein might have been working for Israel.
Also Read: <a href="https://www.benzinga.com/news/social-media/25/05/45710915/elon-musk-once-asked-why-epstein-maxwell-client-list-hasnt-leaked-heres-how-he-responded-to-x-user-who-suggested-he-was-a-client">Elon Musk Once Asked Why Epstein-Maxwell Client List Hasn&#8217;t Leaked — Here&#8217;s How He Responded to X User Who Suggested He Was a Client</a>
At the same summit, Laura Ingraham, another Fox News host, conducted an impromptu poll, inquiring from the audience about their satisfaction with the administration&#8217;s&nbsp;handling of the Epstein case.
Carlson&#8217;s allegations, if proven true, could have significant implications for the US-Israel relationship. It could also potentially impact the reputations of politicians who were in Epstein&#8217;s circle. However, without concrete evidence, these claims remain speculative and controversial.
Moreover, the DOJ&#8217;s conclusion about Epstein not having a list of influential clients contradicts Carlson&#8217;s claims. This discrepancy raises questions about the credibility of the allegations and the motives behind them.
As the Epstein case continues to unfold, it remains to be seen how these allegations will influence public opinion and the ongoing investigations.
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Tucker Carlson Claims Jeffrey Epstein Was an Israeli Agent Blackmailing US Politicians

President Donald Trump&#8216;s tariff policies are said to be providing a significant boost to the private credit market. 
What Happened:&nbsp;This comes as companies are projected&nbsp;to shift operations to the&nbsp;U.S. and decrease their&nbsp;dependence on global supply chains,&nbsp;as per&nbsp;Moody&#8217;s Ratings.
Marc Pinto, the&nbsp;global head of private credit&nbsp;at&nbsp;Moody&#8217;s Ratings, is of the view that the current tariff policies are putting pressure on governments and revealing their limitations. He suggests that this is a scenario where the private credit market can step in and make a significant impact.
Pinto has observed a rise in deals in the infrastructure sector. He predicts that around $2.5 trillion will be invested in data centers over the next five years, with private credit expected to be a major contributor to the financing, <a href="https://www.bloomberg.com/news/articles/2025-07-11/trump-s-trade-war-is-good-for-private-credit-moody-s-says">reports </a>Bloomberg. 
However, Pinto also emphasized that large purchasers of private credit, such as banks and insurance companies, require more comprehensive information on deals. He noted that the intricacy of direct-lending transactions could lead to credit risk.
Also Read: <a href="https://www.benzinga.com/news/politics/25/07/46274724/donald-trumps-big-beautiful-bill-could-make-these-electric-vehicles-much-more-expensive-for-you">Donald Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Could Make These Electric Vehicles Much More Expensive For You</a>
Contrary to common perception, Pinto clarified that the private credit market does not solely cater to high-yield companies. It also serves investment-grade firms. 
&#8220;Insurance companies primarily want investment-grade risk,&#8221; he said, signaling a shift in the private credit market.
Why It Matters: The shift in the private credit market, as indicated by Pinto, could lead to a significant change in the investment landscape. With the current tariff policies in place, the private credit market could play a pivotal role in supporting companies&#8217; transition to domestic operations and reducing their reliance on global supply chains. 
This could potentially lead to a surge in private credit investments, particularly in the infrastructure sector. 
However, the increased complexity of direct-lending transactions also highlights the need for more transparency and detailed information on deals to mitigate credit risk.
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Private Credit Market Sees Opportunity Amid Donald Trump's Tariff Policies, Moody's Reports

GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) is auctioning off a notorious stapler that caused damage to Nintendo Switch 2 screens. 
What Happened: The company&#8217;s CEO, Ryan Cohen, has added a personal touch to the auction, promising to include his underwear and even personally deliver the items if the bidding exceeds $1 million.
As reported <a href="https://fortune.com/2025/07/11/gamestop-nintendo-switch-2-stapler-auction-ryan-cohen/">by&nbsp;</a>Fortune, the&nbsp;infamous stapler that punctured the&nbsp;screens of new Nintendo Switch&nbsp;2 consoles is being auctioned off by&nbsp;GameStop Corp.&nbsp;
The auction took when Cohen pledged to include his own underwear if the bidding reached six figures.
On Friday, Cohen upped the ante, stating that if the bidding crosses the $1 million mark, he will personally deliver the items and treat the winner to a lunch at McDonald&#8217;s. 
The auction, which began at a starting bid of over $120,000, had reached $218,401 by Friday 11:45 a.m. ET.
Also Read: <a href="https://www.benzinga.com/markets/tech/25/06/45941089/gamestop-to-pay-4-5-million-over-alleged-privacy-violations-involving-facebook-data-sharing">GameStop to Pay $4.5 Million Over Alleged Privacy Violations Involving Facebook Data Sharing</a>
The auction, which also includes the repaired Switch 2 console, is being held to raise funds for the Children&#8217;s Miracle Network Hospitals. 
With five days still left for the auction to close, there is plenty of opportunity for interested bidders to join in.
Why It Matters: This unusual auction not only adds a humorous twist to the company&#8217;s recent mishap with the Nintendo Switch 2 consoles, but also serves a noble cause. 
The funds raised from the auction will be donated to the Children&#8217;s Miracle Network Hospitals, a non-profit organization that raises funds for children&#8217;s hospitals, medical research, and community awareness of children&#8217;s health issues. 
The inclusion of CEO Ryan Cohen&#8217;s personal items and his promise of a personal delivery adds a unique touch to the auction, potentially attracting more bidders and raising more funds for the charity.
Read Next
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Image: Shutterstock

GameStop Auction Sees Over $200K Bid for Stapler That Broke Nintendo Switch 2 Consoles

Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>),&nbsp;under the leadership of CEO&nbsp;Mark Zuckerberg, is on a relentless pursuit for artificial intelligence (AI) specialists, with remuneration packages that outstrip those of professional sports stars and Fortune 500 CEOs.
What Happened: As per a&nbsp;report, Meta&#8217;s recruitment drive is focused on assembling an elite AI team for its Superintelligence Labs. The social media giant is allegedly offering premier AI researchers compensation packages that can reach&nbsp;up to $300 million over&nbsp;a four-year period, with first-year earnings surpassing $100 million.
This assertive hiring approach is a countermeasure to competition from rivals like OpenAI, Google, and DeepSeek. A notable recruitment is ex-Apple executive Ruoming Pang, who&nbsp;was enticed to join Meta with a compensation&nbsp;package reportedly exceeding $200 million, reports <a href="https://fortune.com/2025/07/11/how-much-ai-salary-meta-zuckerberg-200-million-compensation/">the </a>Fortune. 
OpenAI CEO Sam Altman confirmed Meta&#8217;s aggressive offers on the &#8220;Uncapped&#8221; <a href="https://techcrunch.com/2025/06/17/sam-altman-says-meta-tried-and-failed-to-poach-openais-talent-with-100m-offers/">podcast</a>, revealing that Meta has been making &#8220;giant offers&#8221; to many on their team, including $100 million signing bonuses.
Also Read: <a href="https://www.benzinga.com/markets/tech/25/06/46157544/meta-exec-dismisses-openais-sam-altmans-claims-of-100-million-signing-bonuses-sam-is-just-being-dishonest-here">Meta Exec Dismisses OpenAI&#8217;s Sam Altman&#8217;s Claims of $100 Million Signing Bonuses: &#8216;Sam Is Just Being Dishonest Here&#8217;</a>
These generous offers have revolutionized tech compensation and amplified the global competition for AI dominance. They have also led OpenAI&#8217;s leadership to reconsider&nbsp;their own compensation strategies and&nbsp;express concern over the impact&nbsp;on company culture.
Zuckerberg&#8217;s&nbsp;personal involvement in the recruitment&nbsp;process has been widely reported.&nbsp;He has been directly reaching&nbsp;out to top AI talent,&nbsp;hosting potential hires, and making&nbsp;offers that have caught competitors off guard.
Why It Matters: Meta&#8217;s aggressive recruitment strategy underscores the increasing importance of AI in shaping the future of tech companies. The escalating competition for AI talent among tech giants like Meta, OpenAI, and Google signifies the high stakes involved in gaining AI supremacy. 
This trend is not only reshaping tech compensation but also&nbsp;intensifying the global race for&nbsp;AI dominance. 
As companies reassess their compensation strategies to attract and retain top AI talent, the impact on company culture and the broader tech industry will be significant.
Read Next
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Image: Shutterstock/El editorial

Mark Zuckerberg Poaches Sam Altman's Talent With Multimillion-Dollar Offers To Build Meta's AI Team

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