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Newegg Commerce

Newegg Commerce Inc is an e-commerce company offering direct sales and an online marketplace platform for IT computer components, consumer electronics, entertainment, smart home, and gaming products and provides certain third-party logistics services globally. Geographically, it operates in United States, Canada, and Rest of World.

Newegg Commerce Inc

Charlie Munger, the late vice-chairman of Berkshire Hathaway, once offered some words of wisdom for investors dealing with market turbulence.
What Happened: Munger, who was a close collaborator of Warren Buffett at&nbsp;Berkshire Hathaway, underscored the necessity for long-term investors to weather market volatility. He argued that if investors are unable to tolerate substantial market downturns, they are not cut out to be ordinary shareholders.
Munger drew from his personal experience during the 2009 financial meltdown, when his Berkshire Hathaway shares had plummeted by over 50%. Despite this setback, he retained his faith in the company and persisted in his stock market investments.
"I think it's in the nature of long-term shareholding that the normal vicissitudes in markets means that the long-term holder has the quoted value of his stocks go down by, say, 50%," Munger <a href="https://www.youtube.com/watch?v=3XlBrohrIUc">told </a>BBC in an interview. 
"If you're not willing to keep your chin up during the occasional rout, you're not fit to be a common shareholder, and you deserve the mediocre result you're going to get compared to the people who can be more philosophical about these market fluctuations," he added. 
Also Read: <a href="https://www.benzinga.com/news/25/02/43581818/charlie-mungers-four-life-lessons-consume-less-than-you-accumulate-invest-judiciously-persistently-learn-and-uphold-discipline">Charlie Munger&#8217;s Four Life Lessons: &#8216;Consume Less Than You Accumulate, Invest Judiciously, Persistently Learn, and Uphold Discipline&#8217;</a>
Both Munger and Buffett adhered to Buffett&#8217;s renowned mantra:&nbsp;&#8220;Be fearful when others are&nbsp;greedy, and be greedy when&nbsp;others are fearful.&#8221; 
This strategy guided them to consistently acquire undervalued stocks, trusting in the eventual success of American businesses.
Furthermore, Munger counseled investors to exploit opportunities to purchase assets at substantial markdowns during major market slumps, instead of holding out for better conditions.
Why It Matters:&nbsp;Munger&#8217;s advice comes at a time when market volatility is a significant concern for many investors. His words serve as a reminder that patience and long-term vision are key to navigating turbulent markets. 
His strategy of capitalizing on market downturns by purchasing undervalued stocks has proven successful in the past, and may serve as a useful guide for investors in the current climate. 
His belief in the eventual success of American businesses also offers a positive outlook for investors worried about the future of the U.S. economy.
Read Next:
<a href="https://www.benzinga.com/news/25/01/43219503/charlie-mungers-three-investment-lessons-buy-wonderful-businesses-at-fair-prices-big-money-isnt-in-buying-or-selling-its-in-waiting-good-businesses-are-ethical-businesses" target="_blank" rel="noreferrer noopener">Charlie Munger's Three Investment Lessons: ‘Buy Wonderful Businesses At Fair Prices, Big Money Isn't In Buying Or Selling-It's In Waiting, Good Businesses Are Ethical Businesses'</a>
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Markets

Charlie Munger's Timeless Advice For Navigating Volatile Markets: 'Be Fearful When Others Are Greedy, And Be Greedy When Others Are Fearful'

Mira Murati, the former chief technology officer of <a href="https://www.benzinga.com/news/25/05/45185633/ups-explores-humanoid-robots-as-figure-ai-secures-675m-from-jeff-bezos-openai-and-intel-targeting-9b-revenue-by-2029">OpenAI</a> and a central figure behind ChatGPT, is launching her own <a href="https://www.benzinga.com/25/03/44184371/google-co-founder-larry-pages-ai-startup-could-change-product-manufacturing-forever-report">AI startup</a>, and she&#8217;s doing it in blockbuster fashion.
Thinking Machines Lab, the AI company founded by Murati early this year, is raising a $2 billion seed round at a $10 billion valuation.
According to<a href="https://www.businessinsider.com/mira-murati-is-asking-investors-to-commit-to-at-least-50-million-2025-5"> Business Insider</a>, the round is being led by Andreessen Horowitz, with support from Sequoia Capital and other top-tier investors. Those interested in backing the venture are being asked to commit a minimum of $50 million per check, a staggering requirement for what would be one of the largest seed rounds in startup history.
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<h2 class="wp-block-heading">A High-Stakes Bet On Next-Gen AI</h2>
The startup's ambition is to reshape the way artificial intelligence is built and understood. According to the company&#8217;s<a href="https://thinkingmachines.ai/"> website</a>, Thinking Machines Lab will focus on making AI &#8220;more widely understood, customizable, and generally capable,&#8221; highlighting a shift toward both transparency and user control.
That positioning places the company in direct conceptual competition with AI giants like OpenAI, Google's Gemini, Elon Musk's xAI, and Anthropic, which are all currently racing to define the next generation of large language models and autonomous systems, Business Insider reported.
Murati spent more than six years at OpenAI, contributing to the development of ChatGPT and other advanced AI research projects. According to Business Insider, she was briefly appointed interim CEO in November 2023, after the board unexpectedly removed Sam Altman, a decision that triggered internal upheaval across the company. Following Altman's reinstatement just days later, Murati returned to her position as chief technology officer.
Trending: Nancy Pelosi Invested $5 Million In An AI Company Last Year — <a href="https://www.benzinga.com/money/elf-labs">Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000.</a>
<h2 class="wp-block-heading">Backed By Industry Legends And Technical All-Stars</h2>
Andreessen Horowitz, the legendary venture capital firm that previously backed Facebook and Airbnb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>),<a href="https://www.ft.com/content/fdef2f53-f8f7-4553-866b-1c9bfdbeea42"> Financial Times</a> reported, is leading the round alongside Sequoia Capital, known for its investments in Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and WhatsApp,<a href="https://fortune.com/2024/07/25/seqouia-capital-roelof-botha-investment-culture-apple-nvidia/"> Fortune</a> says. Their involvement may signal strong institutional belief in Murati's long-term potential.
Thinking Machines Lab is also assembling a brain trust of former OpenAI engineers and scientists. According to<a href="https://thefoundersmagazine.com/thinking-machines-lab/"> The Founders Magazine</a>, team members include Bob McGrew, former head of research at OpenAI, Alec Radford, one of the minds behind the original GPT, Barret Zoph, a top researcher on ChatGPT, and John Schulman, co-lead of the Reinforcement Learning from Human Feedback technique that powers modern AI safety.
See Also: Shark Tank's Kevin O'Leary called Missing Ring his biggest mistake — Don't repeat history—<a href="https://www.benzinga.com/money/big-tech-has-spent-billions-acquiring-ai-smart-home-startups-one-company-stands-to-benefit-and-has-already-made-10-million">invest in RYSE at just $1.90/share.</a>
<h2 class="wp-block-heading">A $50M Entry Ticket To The Future Of AI</h2>
Few early-stage startups command minimum investments in the tens of millions. According to Business Insider, Murati&#8217;s $50 million threshold is a practical necessity since training large models and building scalable infrastructure requires capital on a massive scale.
If the raise closes as expected, Thinking Machines Lab will stand beside OpenAI and Anthropic as one of the most well-capitalized AI startups in the world, Business Insider says, and one of the only ones led by a woman.
With technical vision, elite backing, and a mission to open up the black box of AI, Murati's next chapter may reshape the way the world builds and interacts with intelligent systems.
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Former OpenAI CTO Mira Murati's $2B AI Startup Thinking Machines Lab Sets $50M Investment Minimum, Backed By Andreessen Horowitz And Sequoia Capital

In a recent cybersecurity incident, a significant&nbsp;data breach at a human&nbsp;resources firm has exposed the personal information of hundreds of thousands of Americans, increasing their vulnerability to identity theft and fraud.
What Happened: Maryland-based firm&nbsp;Kelly Benefits&nbsp;revealed a major data breach impacting 413,032 individuals in a&nbsp;filing with the Office of&nbsp;the Maine Attorney General. The company&#8217;s internal probe discovered that an unauthorized party had gained access to its database, pilfering customer information such as names, birth dates,&nbsp;Social Security numbers, tax ID&nbsp;numbers, and financial account data.
According to the <a href="https://www.maine.gov/agviewer/content/ag/985235c7-cb95-4be2-8792-a1252b4f8318/7a0c076f-6530-433d-b017-bb849c81b4b8.html">report</a>, the breach took place from December 12 to 17, 2024. After a thorough examination of the compromised files, Kelly Benefits concluded its analysis on March 3, 2025. The company provides a variety of HR&nbsp;services, including benefits administration, payroll&nbsp;solutions, and retirement planning.
Also Read: <a href="https://www.benzinga.com/news/24/12/42716153/massive-data-breach-exposes-millions-of-credit-and-debit-cards-is-your-account-safe">Massive Data Breach Exposes Millions of Credit and Debit Cards—Is Your Account Safe?</a>
Kelly Benefits has alerted the affected individuals and is providing&nbsp;12-month credit monitoring and identity&nbsp;theft protection services. Despite reporting the incident&nbsp;to federal law enforcement and&nbsp;regulatory agencies, the company states that it has found &#8220;no evidence of misuse of&nbsp;any information related to this&nbsp;incident&#8221; to date.
Why It Matters: This incident underscores the growing threat of cyber attacks and data breaches to businesses and their customers. Companies like Kelly Benefits hold sensitive information, making them prime targets for cybercriminals. 
While the firm has taken steps to mitigate the impact of the breach, the incident serves as a stark reminder of the importance of robust cybersecurity measures. It also highlights the need for swift action and transparency in the event of a breach to protect affected individuals and maintain trust.
As cyber threats continue to evolve, businesses must stay vigilant and invest in advanced security measures to safeguard their data and protect their customers.
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Tech

Major Data Breach Exposes Social Security Numbers, Financial Records and Much More

Donald Trump is heading to Saudi Arabia this week, sparking fresh speculation over a potential civil nuclear agreement <a target="_blank" href="https://www.benzinga.com/news/25/04/44758747/iran-signals-openness-to-nuclear-talks-with-us-warns-against-trumps-aggressive-theatrics" rel="noreferrer noopener">between Washington and Riyadh.</a>
The kingdom has long expressed interest in developing its own nuclear energy capabilities, and the U.S. administration appears eager to engage in such a venture, the Associated Press <a target="_blank" href="https://apnews.com/article/civilian-nuclear-program-saudi-arabia-trump-iran-be8697a1890d0158cef57babb47e7583" rel="noreferrer noopener">reports</a>.
Energy Secretary Chris Wright recently traveled to Saudi Arabia ahead of the president's visit and signaled that discussions were progressing.
He suggested that significant advancements in nuclear collaboration between the two nations could be expected in the near future.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/25/04/44758747/iran-signals-openness-to-nuclear-talks-with-us-warns-against-trumps-aggressive-theatrics" rel="noreferrer noopener">Iran Signals Openness To Nuclear Talks With US, Warns Against Trump&#8217;s &#8216;Aggressive Theatrics&#8217;</a>
The potential deal holds strategic importance for both countries.
For the U.S., it offers a chance to edge out Chinese and Russian influence in the Gulf's burgeoning energy sector.
For Saudi Arabia, it's about reducing domestic oil consumption by turning to nuclear power for civilian energy use and tapping into its own uranium reserves, Associated Press adds.
However, the prospect of allowing Saudi Arabia to enrich uranium domestically has raised alarm among nonproliferation advocates.
While such enrichment is necessary for nuclear energy, it also carries the risk of being repurposed for weapons development, a move that could destabilize regional security dynamics.
The U.S. has historically avoided transferring enrichment capabilities to non-nuclear-weapon states.
Under the previous administration, nuclear cooperation was part of a larger negotiation package that included arms sales and normalization of Saudi-Israeli ties, Associated Press notes.
While the Trump administration has decoupled these elements to some extent, experts believe the nuclear issue could still be used as leverage in pushing forward regional diplomatic goals, particularly within the framework of the Abraham Accords.
Despite current diplomatic overtures toward Iran, Crown Prince Mohammed bin Salman has previously stated that if Tehran were to acquire nuclear arms, Saudi Arabia would likely pursue the same path.
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Equities

Politics

General

Trump Eyeing Nuclear Deal With Saudi Arabia? China and Russia Watch Closely

The inflation crisis that has been hammering the U.S. economy is now taking a visible toll on consumers. Last month, <a href="https://www.conference-board.org/topics/consumer-confidence">data</a> showed that consumer confidence in the U.S. fell to a five-year low. The country's economy shrank in the first quarter for the first time since 2022.&nbsp;
The current earnings season is highlighting the struggles of companies exposed to consumer spending. Fast-food giant McDonald&#8217;s Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) March quarter earnings and revenue missed Wall Street's estimates, while the company saw a 3.6% drop in same-store sales in the U.S., the biggest <a href="https://www.wsj.com/business/hospitality/mcdonalds-mcd-q1-earnings-report-2025-76b4d394-9b782952">decline</a> since 2020.
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McDonald's CEO Chris Kempczinski was frank in pointing out the plight of consumers impacting the company during its <a href="https://seekingalpha.com/article/4780500-mcdonalds-corporation-mcd-q1-2025-earnings-call-transcript">earnings call</a> with analysts. The executive said that quick-service restaurant industry traffic from the low-income consumers plunged by double digits compared with the previous quarter. Middle-income consumers, who had been holding up relatively well until a few months ago, also saw similar declines, which indicates that economic pressure on traffic has "broadened," according to Kempczinski.
<h2 class="wp-block-heading">‘Heightened Anxiety'</h2>
However, as the average American's wallet feels the squeeze, fast-food spending from rich customers remains resilient.
"Traffic growth from the high-income cohort remains solid, illustrating the divided U.S. economy, where low and middle-income consumers in particular are being weighed down by the cumulative impact of inflation, and heightened anxiety about the economic outlook," Kempczinski said.
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<h2 class="wp-block-heading">Traffic Weak Despite $5 Value Meals&nbsp;</h2>
McDonald's saw consumer weakness despite <a href="https://corporate.mcdonalds.com/corpmcd/our-stories/article/mcdonalds-launching-mcvalue-platform-inus-restaurants-in2025.html">launching</a> new $5 value meals earlier this year across its U.S. restaurants to woo customers.&nbsp; Kempczinski said in the latest earnings call that the company knows affordability and value are "paramount" in the current environment, and it has launched cheaper meals across five major international markets.
<h2 class="wp-block-heading">Consumer Woes Across International Markets</h2>
The economic struggles of consumers aren't just limited to the U.S. Kempczinski said during the call that the company is seeing a "similar story" in international markets, where comparable sales declined 1% from last year. Traffic was positive in just two of the five major markets.
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McDonald's total <a href="https://corporate.mcdonalds.com/content/dam/sites/corp/nfl/pdf/Q1_25_Earnings_Release.pdf">revenue</a> fell 3% year over year in the first quarter. The company also saw comparable sales declines in the UK, while the Middle East and Japan posted gains.&nbsp;
"We&#8217;ll remain agile to ensure McValue continues to meet consumer needs and positions us for success in a challenging marketplace," Kempczinski added. "For the remainder of 2025, we&#8217;ll continue to include everyday value meal deals starting at $5, given how the current $5 Meal Deal in particular has resonated with customers."
McDonald's rivals are also beginning to see the impact of contractions in consumer spending. Yum! Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), the owner of Pizza Hut, Taco Bell and KFC, recently <a href="https://www.cnbc.com/2025/04/30/yum-brands-yum-q1-2025-earnings.html">missed</a> Q1 revenue expectations as Pizza Hut's same-store sales slid 5% in the U.S.
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Image: Shutterstock

Personal Finance

'A Divided Economy': McDonald's CEO Says Rich Keep Dining Out But Average Income Consumers Feeling Economic 'Anxiety'

Americans are scrambling to buy new cars as President Donald Trump's tariffs on imported vehicles and auto parts are expected to drive up prices. Data from Cox Automotive <a href="https://www.cbsnews.com/news/u-s-new-vehicle-sales-surge-buyers-hope-to-beat-tariff-hikes/">shows</a> that new car sales in March rose 17% from the month before and 12% from March 2024. Some analysts <a href="https://www.usatoday.com/story/money/cars/2025/05/05/economists-tariff-costs-per-vehicle/83446003007/">estimate</a> the tariff impact to range from $2,000 to $15,000 per vehicle in the U.S.
However, before you panic and rush to buy a new car for no solid reason, take a lesson from Warren Buffett.
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It's common to come across billionaires bragging about their luxury car fleets, huge mansions and private jets. But it's rare to find someone like Buffett—one of the five richest people in the world, worth $158 billion—driving the same sedan for eight years.
Buffett is known for not spending needlessly on new cars and for avoiding any purchases he doesn&#8217;t need. Buffett once <a href="https://www.youtube.com/watch?v=H5pjizrVQFQ">explained</a> why he dislikes going car shopping during a public event:.
"I&#8217;m not ready for that. It&#8217;s another car. I look at that like anything else. It would probably take me half a day to go through the exercise of buying a car and reading the owner&#8217;s manual and all that, and that&#8217;s just a half a day I don&#8217;t want to give up in my life for no benefit," Buffett said.
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<h2 class="wp-block-heading">"Totally Happy" With Existing Car</h2>
The billionaire, 94, said safety is the top feature he looks for when buying a new car, adding that he does not "like to" trade away his time for a new vehicle because he's happy with his car.
"I&#8217;m totally happy with the car. I just don&#8217;t want to trade away the amount of time I&#8217;d have to spend fooling around to get familiar with the—and get title to—and do all the things, the rest of the things, pick one out, saw a new car," Buffett said during the event. "But if there&#8217;s a safer car made, I&#8217;ll be driving in it."
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<h2 class="wp-block-heading">Check for a New Car in "30 Seconds"</h2>
Buffett added that he would write a check in "30 seconds" if he could find a better car than his current one.
The Oracle of Omaha famously drove his 2006 Cadillac DTS for eight years, until General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) CEO Mary Barra in 2014 finally convinced him to upgrade to a newer, better model. And it took way more than 30 seconds to convince the billionaire. Buffett asked Barra what made the new Cadillac models better:
&#8220;She told me about 50 things that were better," Buffett <a href="https://www.forbes.com/sites/joannmuller/2014/07/15/warren-buffett-shares-the-inside-scoop-he-bought-a-cadillac-not-a-subaru/">told Forbes</a> in 2014. "By the time we got to lunch &#8212; and it&#8217;s only five or six minutes &#8212; she sold me.&#8221;
The billionaire traded in his 2006 Cadillac for a 2014 Cadillac XTS.
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Warren Buffett Didn't Buy a New Car for Years — Here's Why You Might Want to Wait (Even With Looming Tariffs)

President Donald Trump&#8217;s administration is reportedly weighing the possibility of suspending habeas corpus, a legal safeguard that allows individuals to <a href="https://www.benzinga.com/news/25/04/45002141/trumps-deportation-policies-could-worsen-social-securitys-funding-shortfall-by-11-warns-new-report" target="_blank" rel="noreferrer noopener">challenge unlawful detentions in court</a>.
The idea has surfaced amid the administration&#8217;s increasing friction with the judiciary over immigration-related arrests and deportations, <a href="https://www.bbc.com/news/articles/c0qgz18glljo" target="_blank" rel="noreferrer noopener">reports</a> BBC, citing a statement from Stephen Miller, the White House Deputy Chief of Staff.
BBC writes that Miller told reporters Friday that the U.S. Constitution permits suspension of this right in cases of &#8220;rebellion or invasion,&#8221; a justification the administration may consider in its crackdown on undocumented immigration.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/global/25/05/45335338/trump-makes-india-pakistan-ceasefire-declaration-in-casual-manner-thank-you-for-your-attention-to-this-matter" rel="noreferrer noopener">Trump Makes India-Pakistan Ceasefire Declaration In Casual Manner: &#8216;Thank You For Your Attention To This Matter!&#8217;</a>
Miller said that judicial challenges to immigration-related detentions are obstructing enforcement efforts, and that the White House is exploring aggressive legal measures in response.
He referred to habeas corpus as a &#8220;privilege&#8221; rather than a guaranteed right and asserted that Congress had already curtailed court jurisdiction over immigration matters.
Legal experts were quick to dispute Miller&#8217;s interpretation, noting that only Congress has the authority to suspend habeas corpus.
The administration&#8217;s approach has come under judicial scrutiny in recent weeks.
A federal judge recently ordered the release of a Turkish student detained for six weeks following his article criticizing Israeli policies, BBC adds. Another judge mandated the release of a Palestinian advocate from Columbia University, citing habeas corpus protections.
Still, some judges have ruled in favor of the administration in similar cases.
Trump, while not publicly mentioning habeas corpus, hinted in April that prior presidents had used powerful legal tools to push past judicial blocks on deportation policies.
Habeas corpus — Latin for &#8220;you shall have the body&#8221; — is a <a href="https://www.merriam-webster.com/dictionary/habeas%20corpus" target="_blank" rel="noreferrer noopener">legal</a> principle in the U.S. Constitution.
It has only been suspended four times in American history, including during the Civil War under President Abraham Lincoln and in Hawaii after the Pearl Harbor attack in 1941.
Returning to the White House with renewed focus on immigration, Trump has made it clear that his administration will explore all avenues to expedite deportations.
While detention numbers have surged, deportation efforts have faced legal and logistical hurdles — including a mistaken removal of at least one individual.
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Image: Shutterstock/Krakenimages.com

Trump Administration Reportedly Weighing Suspension of Habeas Corpus

For the first time since the COVID pandemic, zero cargo ships are on their way from China to the two primary ports in California. This sudden halt in trade comes in the wake of the Trump administration imposing substantial tariffs on Chinese imports.
What Happened: According to a report, no cargo vessels had left China for the two primary&nbsp;West Coast ports in the&nbsp;past 12 hours. This is a stark contrast to the situation just six days ago when 41 vessels were slated&nbsp;to depart China for the&nbsp;San Pedro Bay Complex, which&nbsp;comprises&nbsp;the Port of Los Angeles&nbsp;and Port of Long Beach.
The ongoing trade war initiated by President Donald Trump has led to the implementation of heavy tariffs on a majority of Chinese imports last month. 
This has resulted in a significant decrease in the number of ships carrying cargo to American ports. The sudden dip in vessels departing from China has sparked concerns among port officials, <a href="https://edition.cnn.com/2025/05/10/business/zero-ships-china-trade-ports-pandemic">reports</a> CNN.
Mario Cordero,&nbsp;the CEO of the Port&nbsp;of Long Beach, expressed his concerns stating, &#8220;That&#8217;s cause for alarm.&#8221; The country&#8217;s busiest ports are experiencing a steep drop in cargo, with&nbsp;the Port of Long Beach&nbsp;witnessing a 35-40% fall compared to the usual cargo volume.
Also Read: <a href="https://www.benzinga.com/news/global/25/05/45335581/trump-proposes-major-cut-in-china-tariffs-signaling-shift-in-trade-war">Trump Proposes Major Cut in China Tariffs, Signaling Shift in Trade War</a>
Trade representatives from the US and China&nbsp;are set to meet in&nbsp;Geneva this weekend in an attempt to diffuse the escalating trade war. President Trump has proposed reducing&nbsp;the tariff rate with China&nbsp;to 80%, but the final decision rests with Treasury Secretary Scott Bessent.
For consumers who are already grappling with&nbsp;higher prices or shortages of&nbsp;certain items, a resolution can&#8217;t come soon enough. 
Cordero warned, &#8220;If things don&#8217;t change quickly&#8230;we may be seeing empty products on the shelves. This is now going to be felt by the consumer in the coming 30 days.&#8221;
Why It Matters: The abrupt halt in cargo shipments from China to the US is a direct consequence of the ongoing trade war between the two economic giants. 
This has led to a significant drop in cargo volume at major US ports, raising concerns about potential supply chain disruptions and price hikes for consumers. 
The upcoming meeting between&nbsp;US and Chinese trade representatives&nbsp;will be crucial in determining the future course of this trade war and its impact on global trade dynamics.
Read Next
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Image: Shutterstock/FOTOGRIN

No Cargo Vessels En Route From China To California For First Time Since Pandemic

Elon Musk-owned SpaceX&nbsp;faces a lawsuit from a former employee, who alleges discriminatory treatment and wrongful termination due to his chronic bowel disease.
What Happened: Douglas Altshuler, 58, has accused SpaceX of monitoring and disciplining him for frequent restroom use, a necessity due to his Crohn&#8217;s disease.
In the <a href="https://www.documentcloud.org/documents/25935160-altshuler-v-spacex/">lawsuit</a>, Altshuler claims that despite providing a doctor&#8217;s note explaining his condition, his supervisors timed&nbsp;his bathroom breaks and reprimanded&nbsp;him if he exceeded 10 minutes.
Altshuler has also mentioned that he was threatened with termination for using the restroom too often. His request for&nbsp;special accommodation was dismissed as&nbsp;&#8220;unsubstantiated&#8221;. He was eventually fired for what SpaceX termed &#8220;deficient performance&#8221;.
Also Read: <a href="https://www.benzinga.com/tech/25/02/43581767/elon-musks-former-employees-warn-federal-workers-about-long-hours-firings-and-much-more">Elon Musk&#8217;s Former Employees Warn Federal Workers About Long Hours, Firings, And Much More</a>
The suit also alleges that Altshuler was denied proper meal breaks, underpaid, and exposed to hazardous chemicals. He reported witnessing industrial parts being dried in a kitchen where employees prepared meals.
Altshuler&#8217;s attorney, Clive Pontusson, said in a statement, &#8220;Employees&nbsp;have the right to request&nbsp;accommodations for disabilities without fear&nbsp;of losing their jobs. They&nbsp;also have the right to&nbsp;report unsafe conditions without facing&nbsp;retaliation.&#8221;
Why It Matters: This lawsuit comes as a significant blow to SpaceX, a company known for its groundbreaking space exploration initiatives. 
Altshuler, who&nbsp;began working at SpaceX in&nbsp;2023 and was fired last&nbsp;year,&nbsp;is seeking back pay and&nbsp;damages. The company has yet to comment on the lawsuit.
Read Next
<a href="https://www.benzinga.com/news/23/08/33934996/tesla-employees-share-harrowing-tales-of-working-for-elon-musk-elons-coming-out-of-a-room-looking-de">Tesla Employees Share Harrowing Tales Of Working For Elon Musk: &#8216;Elon&#8217;s Coming Out Of A Room, Looking Dead At You, And Firing You&#8217;</a>
Image: Shutterstock/JHVEPhoto

Termination

Analyst Ratings

Former Employee Sues Musk's SpaceX, Claiming He Was Fired Over Bathroom Breaks

A Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) whale that had been dormant for over ten years has sprung into action, transferring a massive $207.51 million worth of Bitcoin.
What Happened: The Bitcoin whale shifted 2,186 BTC to another wallet. This Bitcoin stash was first received by the dormant wallet in July 2013 when BTC was priced&nbsp;at $85. At the time&nbsp;of this recent transaction,&nbsp;Bitcoin was trading at $94,929,&nbsp;indicating a price increase of about 111,581% over nearly 142 months.
According to the report <a href="https://bitinfocharts.com/bitcoin/address/1NWPS2fWw6FMeJEjg6DMMpYxQyB4TKpVsb">by </a>BitInfoCharts, the whale also transferred a smaller Bitcoin stash that it received on two separate occasions in 2014. 
In March&nbsp;2014, the wallet received 82&nbsp;BTC when Bitcoin was trading around $612, and in November 2014, it received 75 BTC when Bitcoin was approximately $377.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44348215/bitcoin-whale-takes-332-million-short-position-heres-where-it-gets-liquidated">Bitcoin Whale Takes $332 Million Short Position, Here&#8217;s Where It Gets Liquidated</a>
During its period of inactivity, the wallet also received small amounts of Bitcoin, suggesting that it may have been a target of dusting attacks. These attacks aim to de-anonymize a cryptocurrency user by sending small&nbsp;amounts of Bitcoin to an&nbsp;address to monitor the user&#8217;s holdings and transaction activities.
Why It Matters: The sudden activity of this ancient Bitcoin whale is significant in the cryptocurrency market. It highlights the potential for large, dormant accounts to suddenly become active and make substantial transactions. This can have a considerable impact on Bitcoin&#8217;s price and market dynamics. 
The whale&#8217;s massive profit also underscores the substantial price appreciation of Bitcoin over the past decade, reinforcing its status as a lucrative investment. 
The dusting attacks on the wallet further emphasize the ongoing security and privacy concerns in the cryptocurrency space.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44065728/crypto-analyst-predicts-195-bitcoin-rally-says-bull-market-not-over-yet" target="_blank" rel="noreferrer noopener">Crypto Analyst Predicts 195% Bitcoin Rally, Says Bull Market Not Over Yet</a>
Image: Shutterstock/nuttapon averuttaman

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

Cryptocurrency

$BTC

Decade-Old Bitcoin Whale Emerges, Transfers $207.51 Million BTC With Nearly 112,000% Profit

In a recent reaffirmation of her bullish stance, ARK Invest CEO Cathie Wood has once again predicted that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) will hit a minimum of $700,000 in the coming years.
What Happened: Speaking at a recent interview, Wood reiterated ARK&#8217;s forecast of a minimum 580% surge in Bitcoin&#8217;s current value by 2030. 
She <a href="https://www.youtube.com/watch?v=mVsSn5EBFlE">detailed</a>, &#8220;We&nbsp;have always had a 2030&nbsp;target, the base case in&nbsp;the $700,000 to $750,000 range,&nbsp;the bull case in the&nbsp;$1.5 million range.&#8221;
Wood highlighted three primary factors propelling this audacious Bitcoin price prediction. These encompass Bitcoin&#8217;s potential to seize a share from gold or expand the store-of-value market, institutions starting to invest in Bitcoin, and emerging market use cases.
See Also:&nbsp;<a href="https://benzinga.com/news/legal/25/05/45333754/tesla-poised-to-gain-as-texas-declares-dexit-passing-bills-to-shield-companies-from-shareholder-lawsui" target="_blank" rel="noreferrer noopener">Tesla Poised To Gain As Texas Declares &#8216;Dexit,&#8217; Passing Bills To Shield Companies From Shareholder Lawsuits After Elon Musk&#8217;s Pay Battle</a>
In addition to her Bitcoin forecast, Wood also shared her views on the current economic situation. She stated that the US is in a recession but anticipates it to end soon, following&nbsp;more clarity around President Trump's&nbsp;tariff negotiations. She is optimistic that this will trigger considerable economic growth, partly driven by advancements in artificial intelligence (AI).
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44889289/this-crypto-analyst-predicts-bitcoin-could-soar-137-under-perfect-market-conditions">This Crypto Analyst Predicts Bitcoin Could Soar 137% Under Perfect Market Conditions</a>
"I just put out a letter talking about the rolling recession we've been in for the last three years, since the Fed jacked up rates. We got a negative quarter in the first quarter, and potentially in the second quarter as well. And I think more and more people are getting concerned about an extended recession, and amid all the uncertainty, we actually think we're at the end of this rolling recession, and that we are moving into a period, after all of this uncertainty, of much greater productivity,&#8221; Wood added. 
&#8220;I&nbsp;think we're going to see a lot more productivity driven growth, which means inflation is going to be much lower than expected, which is going to be very capital friendly," she shared. 
At the time of writing, Bitcoin was trading at $102,811, marking a 2.4% increase&nbsp;in the last 24 hours.
Why It Matters: Wood&#8217;s prediction is significant as it reflects the growing confidence in Bitcoin&#8217;s potential to disrupt traditional financial markets. The forecast also underscores the increasing institutional interest in Bitcoin as a viable investment. 
Furthermore, Wood&#8217;s comments on the economic climate highlight the potential role of Bitcoin and AI in driving economic growth post-recession.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44065728/crypto-analyst-predicts-195-bitcoin-rally-says-bull-market-not-over-yet" target="_blank" rel="noreferrer noopener">Crypto Analyst Predicts 195% Bitcoin Rally, Says Bull Market Not Over Yet</a>
Shutterstock/Rcc_Btn

Cathie Wood Stands Firm on Bold $700,000 Bitcoin Prediction for Investors, Says 'Bull Case in the $1.5 Million Range'

A recent shift in how the <a href="https://www.benzinga.com/news/25/05/45281537/gop-warns-trump-appointed-social-security-chief-frank-bisignano-against-further-staff-cuts-citing-risks-to-services-as-baby-boomers-age">Social Security Administration</a> handles benefit overpayments may offer partial relief — but it still comes with serious consequences. Effective April 25, the SSA began withholding up to 50% of monthly Title II benefits, such as retirement, disability, or survivor payments, from those who received overpayments.&nbsp;
While that's a step back from the <a href="https://www.benzinga.com/personal-finance/25/03/44368080/ssa-to-seek-100-recovery-on-social-security-overpayments-heres-what-this-means-for-your-benefits">previously announced 100% clawback</a>, experts say the new policy can still leave retirees and other beneficiaries in financial distress.
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<h2 class="wp-block-heading">Why Are Benefits Being Withheld?</h2>
Overpayments happen when the SSA sends out more money than a person is actually owed. This can occur for several reasons, including agency errors or delays in processing information — like changes to a beneficiary's income, living situation, or marital status.
When the SSA determines that an overpayment has occurred, it sends a notice asking for full and immediate repayment. If the beneficiary doesn't respond within roughly 90 days — by requesting a waiver, a reconsideration, or a lower repayment rate — the SSA begins automatically withholding funds.
According to an <a href="https://secure.ssa.gov/apps10/reference.nsf/lnx/04252025032443PM">emergency message</a> from the SSA, the new policy sets a default withholding rate of 50% for all new overpayment notices beginning April 25. This means half of a beneficiary's monthly check may be withheld until the debt is paid off — unless they take action.
Trending: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
<h2 class="wp-block-heading">Relief from 100%, But Still Not Easy</h2>
The SSA's decision follows backlash against a previous plan to withhold 100% of benefits for overpaid recipients. That plan, <a href="https://www.ssa.gov/news/press/releases/2025/#2025-03-07-a">announced</a> earlier this year, would have left some individuals without any income at all. Critics, including advocacy organizations and lawmakers, called the full clawback "draconian."
While the reduced rate is seen as progress, it's far from a full solution.
"If you're relying on your benefits to pay your rent or your mortgage and buy food, losing half of that income is going to be devastating and can still result in people becoming homeless," Kate Lang, director of federal income security at Justice in Aging, told <a href="https://www.cnbc.com/2025/05/05/social-security-overpayment-withholding-rate-change.html">CNBC</a>.
Richard Fiesta, executive director of the Alliance for Retired Americans, told CNBC the change still risks causing "immediate economic hardship" for many, particularly when the overpayment was not the beneficiary's fault.
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">Can You Dispute the Overpayment?</h2>
Yes — but it's not always straightforward. <a href="https://www.benzinga.com/personal-finance/25/03/44292349/if-i-were-a-beneficiary-id-be-setting-aside-some-money-right-now-former-ssa-commissioner-warns-t">Beneficiaries</a> can request a reconsideration, a waiver, or a lower withholding rate. However, responses can vary depending on the SSA employee handling the case.
"There are thousands of employees that individual beneficiaries are going to be dealing with to ask for a waiver or ask to negotiate a different repayment rate," Lang said. "And those employees have a lot of discretion in what they decide."&nbsp;
Plus, long wait times for SSA appointments can make it harder for people to respond in time.
<h2 class="wp-block-heading">What to Do If You Receive an Overpayment Notice</h2>
If you get a notice, act quickly. According to the SSA, you typically have about 90 days to challenge it before the SSA begins withholding up to 50% of your monthly benefit.
Experts recommend contacting the SSA as soon as possible to explore your options. You may be able to reduce the withholding rate or avoid repayment altogether if you weren't at fault for the overpayment.
<h2 class="wp-block-heading">Bottom Line</h2>
While the SSA's decision to cut the withholding rate from 100% to 50% may sound like good news, the fallout could still be serious for many retirees. Stay informed, respond quickly to any overpayment notice, and don't hesitate to ask for help if you need it.
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<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.30/share!</a></li>
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Image: Shutterstock

You Could Still Lose Half Your Benefits: Social Security Reduces Overpayment Withholding Rate, Experts Warn Of Fallout

When it comes to managing money, Suze Orman says understanding debt is a critical first step — especially for anyone hoping to improve their financial health. On a recent episode of her "<a href="https://omny.fm/shows/suze-ormans-women-and-money/suze-school-the-actions-you-need-to-take-now-with-your-money">Women &amp; Money</a>" podcast, Orman made a clear distinction between "good" debt and "bad" debt — and explained how to handle both.
<h2 class="wp-block-heading">What's the Difference Between Good Debt and Bad Debt?</h2>
According to Orman, bad debt "is where you are paying for your present day desires, but your costs are going to be your future day needs."&nbsp;
The most common example? Credit card debt. It typically comes with high interest rates and can snowball if not addressed quickly.
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<a href="https://www.benzinga.com/25/05/45256709/approaching-retirement-suze-ormans-2025-plan-for-safe-high-earning-cash">Orman</a> says good debt, on the other hand, includes borrowing that may help you build your financial future. This could be a mortgage, a student loan, or even a car loan — as long as it&#8217;s used wisely. For instance, if a car is necessary to commute to work and the loan is reasonable, it may be considered a strategic expense.
<h2 class="wp-block-heading">How to Know If a Car Loan Is Worth It</h2>
Even though a car loan can sometimes be a form of good debt, Orman urges caution. "Remember, if you buy a new car, the second you drive it off the lot, it goes down a good 20% or more in value," she said.
To decide whether a <a href="https://www.benzinga.com/news/25/03/44309975/suze-orman-warns-against-this-costly-car-buying-mistake-are-you-kidding-me-thats-just-spending-on-a-want-not">car loan is affordable</a>, Orman offers a simple rule: if you can&#8217;t pay it off in three years, the car may be too expensive. Stretching payments over five, six, or seven years? That could turn a necessary expense into bad debt.
Trending: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
<h2 class="wp-block-heading">Tackling Credit Card Debt — No Matter Your Credit Score</h2>
If you're dealing with high-interest credit card debt, Orman recommends a few different strategies based on your credit score.
For people with good credit (a FICO score of 680 or higher), she suggests looking into 0% balance transfer offers. Some credit cards offer up to 21 months with no interest, which can give you time to pay down your debt faster without extra charges.
If your score is lower, balance transfers may not be an option. In that case, Orman offers a structured plan:
<ol class="wp-block-list">
<li>List all credit cards by interest rate, from highest to lowest.</li>
<li>Write down the current minimum payment due for each card — and commit to always paying at least that much going forward.</li>
<li>Total your minimum payments. Add 20% to this number.</li>
<li>Apply that extra 20% to the card with the highest interest rate.</li>
<li>Once a card is paid off, roll the full amount you were paying on that card to the next highest-interest card — and repeat until you're debt-free.</li>
</ol>
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 Final Tip: Don't Close Those Paid-Off Cards</h2>
After you&#8217;ve paid off your credit cards, it may be tempting to close them — but Orman cautions against that. Closing credit cards lowers your available credit limit, which can hurt your FICO score. Instead, Orman urges listeners to consider keeping the accounts open and using them occasionally to maintain a positive credit history.
<a href="https://www.benzinga.com/news/25/04/44889438/survey-unveils-american-misconceptions-about-credit-card-debt-management">Managing debt</a> is about more than making payments — it's about making smart decisions that protect your future. Orman's message is clear: learn the difference between good and bad debt, and take action today.
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Image: Shutterstock

'There Is Good Debt And There Is Bad Debt' - Suze Orman Breaks Down Credit Cards, Car Loans, Student Debt, And Mortgages

Decades after Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) walked away from Morris Chang's pitch to co-invest in Taiwan Semiconductor Manufacturing Co. Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), the Taiwanese chip giant has skyrocketed past Intel in market value.
What Happened: In a 2014 <a href="https://www.youtube.com/watch?v=wEh3ZgbvBrE&amp;ab_channel=StanfordOnline">lecture</a> at Stanford University, Chang, the founder of TSMC, shared the remarkable backstory of how he secured funding for what would become the world's largest dedicated chip foundry.
At the time, Chang was tasked with piecing together financing, with the Taiwanese government promising up to 50% of the initial investment — if Chang could secure the other half from private investors, ideally a major global tech partner.
Chang approached several industry giants, including Intel, Toshiba, Hitachi, and Sony. While Intel initially showed some interest, the conversations ultimately ended in rejection.
See Also: <a href="https://www.benzinga.com/tech/25/03/44298588/lip-bu-tan-got-high-praise-from-tsmc-founder-morris-chang-for-saving-cadence-from-pretty-big-trouble-will-the-magic-work-at-the-new-intel">Lip-Bu Tan Got High Praise From TSMC Founder Morris Chang For Saving Cadence From &#8216;Pretty Big Trouble&#8217; — Will The Magic Work At The &#8216;New&#8217; Intel</a>
Chang recalled how Intel's then-executive Craig Barrett met with him twice but eventually said no, saying the company wasn't interested.
"The only company that appeared to be genuinely interested was Philips," Chang recounted. While he had hoped for a stronger technology partner, Chang settled for Philips, which invested 28%. With the Taiwanese government's 48% and additional funds from local investors, TSMC was officially launched in 1987.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It's Important: Fast forward to today, and the contrast between TSMC and Intel's fortunes couldn't be starker.
As of May 2025, TSMC boasts a market capitalization of $908.78 billion, ranking as the world's 11th most valuable company, while Intel lags far behind with a market cap of $91.60 billion, sitting at 206th place globally.
TSMC, which <a href="https://www.benzinga.com/insights/options/25/02/43886929/taiwan-semiconductor-options-trading-a-deep-dive-into-market-sentiment">went public as an ADR</a> in the U.S. in 1997, now controls over 60% of the global chip foundry market. It counts powerhouse clients like Apple Inc., Advanced Micro Devices, and Nvidia Corporation, leveraging process technologies and benefiting from the fabless chip model that has reshaped the semiconductor landscape.
Meanwhile, Intel has <a href="https://www.benzinga.com/markets/equities/24/12/42378342/intel-stock-is-where-it-was-27-years-ago-how-the-worlds-leading-chipmaker-lost-the-plot-thrice">struggled to maintain</a> its former dominance. Over the past five years, Intel's stock has fallen more than 64% (whereas TSMC has gained BY 231.17%), losing ground not only in its traditional x86 stronghold but also in emerging areas like smartphone chips and AI, where Nvidia has surged ahead.
At Intel's first-quarter 2025 earnings call, new CEO Lip-Bu Tan admitted, "Clearly, there are no quick fixes," as the company works through a <a href="https://www.benzinga.com/markets/25/04/45000866/intel-stock-has-fallen-nearly-64-in-5-years-now-ceo-lip-bu-tan-says-clearly-there-are-no-quick-fixes-but-investors-should-stay-tuned">multi-year transformation</a> plan aimed at regaining competitiveness in AI, GPUs, and edge computing.
But the bigger story today is how TSMC has far outpaced Intel's market value and global influence.
With TSMC sitting atop the global semiconductor supply chain and Intel working hard to stage a turnaround, the once-dismissed foundry model now stands as a defining force in the future of chips.
Read Next:
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Photo Courtesy: jamesonwu1972 On Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

INTC

Morris Chang Once Talked About How Intel Turned Down His Vision For TSMC — Fast Forward To Today And The Taiwanese Chipmaker Has Outgrown Intel In Market Value By Hundreds Of Billions

President Donald Trump has expressed a readiness to drastically cut&nbsp;U.S. tariffs on Chinese imports,&nbsp;hinting at a potential 80% tariff as the new rate.
What Happened: President Trump is considering a significant reduction in tariffs on Chinese goods. This move is interpreted as an effort to advance in the ongoing trade war, sparked by Trump&#8217;s &#8220;Liberation Day&#8221; announcement.
The existing tariffs have notably influenced Wall Street and have sparked worries about a possible U.S. recession. They have also negatively impacted Trump&#8217;s approval ratings.
Trump,&nbsp;in a <a href="https://truthsocial.com/@realDonaldTrump/posts/114477628854583525">post </a>on Truth&nbsp;Social, proposed that an 80% tariff on China seemed fitting. This would substantially lower&nbsp;the import tax on Beijing's&nbsp;goods from the current 145%. &#8220;80% Tariff on China seems right! Up to Scott B,&#8221; Trump wrote. 
He also alluded&nbsp;to Treasury Department Secretary Scott&nbsp;Bessent&#8217;s role in the decision.
The U.S. and China are&nbsp;set to engage in trade talks&nbsp;in Switzerland this weekend, with&nbsp;Bessent spearheading the discussions. Trump&#8217;s suggested tariff reduction comes as Beijing has been hesitant&nbsp;to negotiate a deal with&nbsp;the U.S., despite the potential harm to its own economy.
Also Read: <a href="https://www.benzinga.com/markets/25/05/45185792/young-americans-express-discontent-over-trumps-china-tariffs">Young Americans Express Discontent Over Trump&#8217;s China Tariffs</a>
In another <a href="https://truthsocial.com/@realDonaldTrump/posts/114477610338144415">post</a> on Friday, Trump said, &#8220;CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON'T WORK ANYMORE!!!"
Trump&#8217;s economic management has seen approval ratings fall below 50% in most polls, stirring unease among Republicans with the midterm elections just over a year away.
Despite the ongoing trade disputes, the prospect of U.S.-China talks has been received positively by markets, with Germany's DAX, Paris's CAC 40,&nbsp;and the U.K.'s FTSE 100&nbsp;all recording gains.
Why It Matters: The proposed tariff reduction signifies a potential shift in the U.S.-China trade war. The current tariffs have not only impacted Wall Street but also raised concerns about a U.S. recession and affected Trump&#8217;s approval ratings. 
The move could potentially ease these concerns and improve the economic outlook. However, the success of this proposal largely depends on the upcoming trade talks in Switzerland and Beijing&#8217;s willingness to negotiate a deal.
Read Next
<a href="https://www.benzinga.com/news/earnings/25/05/45184120/warren-buffett-warns-tariffs-could-backfire-on-economy-says-trade-should-not-be-a-weapon-its-a-big-mistake-i-dont-think-its-wise" target="_blank" rel="noreferrer noopener">Warren Buffett Warns Tariffs Could Backfire on Economy, Says, ‘Trade Should Not Be A Weapon. It's A Big Mistake, I Don't Think It's Wise'</a>
Shutterstock/Valery Evlakhov

Global

Trump Proposes Major Cut in China Tariffs, Signaling Shift in Trade War

Function Health, the rapidly growing health-tech startup on a mission to help people live 100 healthy years, announced in a <a href="https://www.prnewswire.com/news-releases/function-health-acquires-ezra-introduces-499-full-body-mri-scan-302446016.html">statement</a> on Monday a game-changing acquisition that's already turning heads in Silicon Valley and <a href="https://www.benzinga.com/personal-finance/25/04/44636477/ai-wont-steal-hollywoods-magic-says-mark-cuban-the-best-will-get-even-better-but-ai-cant-replace-that-feel">Hollywood</a> alike.
The Austin-based company, known for offering over 160 advanced lab tests through its membership platform, has officially acquired Ezra, a New York startup offering full-body MRI scans powered by AI, according to<a href="https://www.cnbc.com/2025/05/05/function-health-mri-ezra.html"> CNBC</a>.
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<h2 class="wp-block-heading">A Landmark Deal Backed by Celebrities</h2>
The deal, revealed in the company's statement, signals a major move in the consumer longevity space. According to<a href="https://www.fiercehealthcare.com/health-tech/startup-pockets-53m-personalized-health-testing-backed-celeb-investors-matt-damon-pedro"> Fierce Healthcare</a>, the startup is backed by big-name celebrities including Matt Damon, Pedro Pascal, <a href="https://in.benzinga.com/news/25/02/43496334/sounds-like-murderville-both-mark-cuban-and-kevin-hart-passed-on-a-startup-that-grew-into-a-giant-leaving-them-regretting-it">Kevin Hart</a>, Jay Shetty, Zac Efron, Blake Griffin, Colin Kaepernick, and investor Ari Emanuel.
Function is now rolling out a 22-minute full-body MRI for just $499, with the company saying in its statement that it&#8217;s a third of the price of Ezra's previous $1,500 scan. Function co-founder and CEO Jonathan Swerdlin told CNBC, "What labs aren't covering, scans can see, and what scans couldn't touch on, labs cover."
<h2 class="wp-block-heading">Tech-Powered Scans That Spot Trouble Before You Feel It</h2>
Ezra's scans are designed to catch disease before symptoms ever surface. From cancers to degenerative spine issues, silent strokes to liver disease, the AI-enhanced imaging adds a crucial layer to Function's preventive arsenal. According to Ezra founder Emi Gal, who lost his mother to late-stage cancer and started Ezra to change that reality, the goal has always been to find disease early enough to make a difference, CNBC reports.
Trending: Donald Trump just announced a $500 billion AI infrastructure deal — <a href="https://www.benzinga.com/money/seize-a-share-while-you-still-can-in-the-2-trillion-entertainment-market-with-elf-labs-at-just-2-25-share">here's how you can invest in the entertainment market's next big disruptor at $2.25 per share</a>.
Function is keeping Gal on board to continue leading the MRI division. "Over the past six years my team and I have helped countless people find cancer, many of whom are now cancer-free," Gal said in the startup&#8217;s statement. "We are now scaling this to millions together with Function."
According to<a href="https://radiologybusiness.com/topics/healthcare-management/mergers-and-acquisitions/whole-body-mri-firm-ezra-acquired-celebrity-backed-longevity-startup-function-health"> Radiology Business</a>, the scans will be immediately available to Function's nearly 200,000 members at almost 100 partner sites, including Longhorn Imaging, Princeton Radiology, and Rayus. Plans are already in motion to scale that to 1,000 locations nationwide.
Function has also integrated Ezra's proprietary AI stack: Ezra Flash AI for image quality, Ezra AI for interpreting scans, and Ezra Reporter to simplify radiology language. Together, these tools compress scan time from 60 minutes to just 22, and slash the cost to a fraction of what competitors charge, Radiology Business reports.
See Also: Shark Tank's Kevin O'Leary called Missing Ring his biggest mistake — Don't repeat history—<a href="https://www.benzinga.com/money/big-tech-has-spent-billions-acquiring-ai-smart-home-startups-one-company-stands-to-benefit-and-has-already-made-10-million">invest in RYSE at just $1.90/share.</a>
<h2 class="wp-block-heading">The Future of Health Is Member-Owned, Not Hospital-Defined</h2>
Function Health is built around a single idea: health should be in your hands. Co-founder and Chief Medical Officer Mark Hyman calls it the most meaningful venture of his career, a platform rooted in P4 medicine: predictive, preventive, personalized, and participatory. The aim is to give people the data they need to act early, rather than waiting for symptoms to become emergencies, according to<a href="https://time.com/7176591/function-health-startup-blood-tests-preventive-medicine/"> Time</a>.
Instead of relying on reactive systems and fragmented care, members gain access to centralized, real-time insights drawn from lab tests, full-body imaging, and AI interpretation. Hyman believes this breaks the old model where people had to ask doctors and insurers for permission to understand their own bodies. As he told Time, &#8220;The only way to do that is to have your own data, and not be limited by what you get at your doctor's.&#8221;
The company is also aggressively scaling. After raising $53 million in a Series A round led by Andreessen Horowitz&#8216;s Bio + Health fund, with additional backing from Draft Ventures, G9 Ventures, Wisdom.vc, and 53 Stations, Fierce Healthcare reports, Function is seeking $200 million more to fuel growth, according to CNBC.
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Image: Shutterstock

Function Health Acquires Ezra, Launches $499 Full-Body MRI Scan Backed By Matt Damon, Pedro Pascal, And Kevin Hart

<ul class="wp-block-list">
<li>Kohl's fired CEO Ashley Buchanan on May for cause</li>
<li>The dismissal came after an investigation uncovered unethical and undisclosed conflicts of interest</li>
<li>Michael Bender will be serving as interim CEO, while the company searches for a new leader</li>
</ul>
Kohl's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) dismissed its newly installed CEO on May 1, citing "undisclosed conflicts of interest," the company <a href="https://investors.kohls.com/news/news-details/2025/Kohls-Announces-CEO-Transition-Process/default.aspx">said</a>.
Ashley Buchanan had been in the position for just four months before the company discovered&nbsp; allegedly unethical behavior. According to the retailer, an outside investigation found that Buchanan "violated company policies by directing the company to engage in vendor transactions that involved undisclosed conflicts of interest." As a result, he was terminated "for cause," a rebuke that carries serious weight in these circles.
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A <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0000885639/365c9d9d-e961-486a-b5b8-6d41e9a073a6.pdf">regulatory filing</a> with the Securities and Exchange Commission disclosed a few more details about what the company said it discovered. "Mr. Buchanan had directed that the Company conduct business with a vendor founded by an individual with whom Mr. Buchanan has a personal relationship on highly unusual terms favorable to the vendor and that he also caused the Company to enter into a multi-million dollar consulting agreement wherein the same individual was a part of the consulting team," the filing said.&nbsp;
The filing also said Mr. Buchanan did not disclose this relationship as required under the company's code of ethics, which amounted to his dismissal with cause.
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Buchanan joined Kohl's in January. During his short tenure, he was unable to do so, with sales continuing to decline by 4.3%, according to the company's <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0000885639/365c9d9d-e961-486a-b5b8-6d41e9a073a6.pdf">preliminary Q1 earnings report</a> released on April 30. However, Kohl's said that his dismissal was not related to the company's performance.
In a note on <a href="https://www.linkedin.com/posts/neilretail_retail-retailnews-kohls-activity-7323727677897457664-yOX7?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAABoQOeEBkp9GEG7YuyNwG3VYshXFjSm2NTs">LinkedIn</a>, Neil Saunders, the managing director of GlobalData Retail, wrote that the "disruption and distraction" of Buchanan's firing "is the last thing that Kohl&#8217;s needs as it tries to turn itself around. Kohl&#8217;s needs stability. It currently has chaos."
Chair Michael Bender will serve as interim CEO until a successor is named, according to Kohl&#8217;s.&nbsp;
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</ul>
Image: Shutterstock

Kohl's Dismisses CEO Over 'Undisclosed Conflicts Of Interest'

On a recent episode of The Ramsey Show, a woman phoned in to talk about her boyfriend's approach to finance that raised some red flags: "I've been dating a lovely young man… and his response [to retirement savings] was that 401(k)s are a scam." Hosts Dave Ramsey and George Kamel, as usual, had a lot to say about that.
What Happened: The caller <a href="https://www.youtube.com/watch?v=Y324f44rQuk">shared</a> that while she saves sincerely with a <a href="https://www.benzinga.com/money/what-is-a-401k">401(k)</a> and Roth IRA, her 32-year-old boyfriend, who immigrated from Albania six years ago, disregards retirement accounts completely. Ramsey responded: "What he&#8217;s saying is&#8230; I'm immature and I don't want to think about the future."
Ramsey went on to acknowledge that fear or cultural experience might be impacting the boyfriend's position. "If he is truly scared of this product… then you can deal with fear," Kamel added. They advised the caller to approach the situation like teaching someone to ride a bike: begin with training wheels, then build confidence step by step.
See Also: <a href="https://www.benzinga.com/markets/25/04/45061911/kevin-oleary-urges-americans-to-rethink-retirement-goals-says-social-security-alone-wont-cut-it-throw-out-your-plan-for-freedom-at-55-or-even-65">Kevin O&#8217;Leary Urges Americans To Rethink Retirement Goals, Says Social Security Alone Won&#8217;t Cut It: &#8216;Throw Out Your Plan For Freedom At 55 Or Even 65&#8217;</a>
Why It Matters: Ramsey did not mince his words, highlighting the long-term relational and financial risks of not having a 401(k). "You&#8217;re going to live with someone who&#8217;s going to do no planning for the future, which guarantees your future sucks."
He <a href="https://www.benzinga.com/personal-finance/25/01/42988489/im-watching-my-retirement-savings-erode-away-61-year-old-panics-over-his-investments-but-dave-ramsey-tells-him-shut-up-and-invest">shared stories</a> of other callers who had a similar perspective and then ended up with decades of regret. "I <a href="https://www.benzinga.com/personal-finance/25/05/45181755/58-year-old-with-no-retirement-says-his-ex-left-him-broke-and-hes-sick-of-working-dave-ramsey-says-he-can-build-a-500k-nest-egg-in-10-years">meet 57-year-old Americans who have no vision</a>&#8230; and they end up retiring and trying to live on Social Security and griping because <a href="https://www.benzinga.com/personal-finance/25/01/43086362/retiring-with-zero-money-and-a-nice-paid-for-house-is-not-a-plan-dave-ramsey-tells-59-year-old-with-no-retirement-savings">all the opportunity is gone</a>", he said.
For this woman, the path forward with her boyfriend would be to "honor their questions," said Kamel. "Don't always try to explain them away… get with a third party" like a financial advisor. &nbsp;Ramsey then added: "I love you—don't marry this guy. He ain't worth it," if his mindset does not shift.
Ramsey has previously advocated for a similar approach, highlighting the importance of tackling debt, <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/05/45187836/dave-ramsey-blasts-budget-slackers-who-bail-on-401ks-during-market-turmoil-shortterm-temper-tantrums">putting extra cash&nbsp;into a 401(k)&nbsp;</a>and Roth IRA, and investing in broad‑based mutual funds that compound over decades.
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Photo courtesy: Shutterstock

Dave Ramsey Tells Woman Whose Boyfriend Thinks 401(k)s Are A Scam: 'Don't Marry This Guy, He Ain't Worth It,' Calling Him An 'Immature' Man Who Doesn't 'Want To Think About The Future'

President Donald Trump has declared a ceasefire agreement between India and Pakistan. This announcement comes amidst escalating tensions between the two nuclear-armed nations.
What Happened: Early on Saturday morning, President Trump made a casual announcement about the ceasefire agreement between India and Pakistan. 
&#8220;After a long night of talks mediated by the United States, I am pleased to announce that India and Pakistan have agreed to a FULL AND IMMEDIATE CEASEFIRE. Congratulations to both Countries on using Common Sense and Great Intelligence. Thank you for your attention to this matter!,&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114483405683675564">posted </a>on Truth Social.
The announcement followed a series of escalating military actions between India and Pakistan. Earlier on Saturday, India had launched missiles at Pakistani airbases, which led to retaliation from Pakistan. 
This announcement was made mere hours after the conflict seemed to be intensifying.
Also Read: <a href="https://www.benzinga.com/25/05/45241770/india-fires-missiles-into-pakistani-territory-trump-hopes-fighting-between-nuclear-rivals-ends-very-quickly">India Fires Missiles Into Pakistani Territory, Trump Hopes Fighting Between Nuclear Rivals &#8216;Ends Very Quickly&#8217;</a>
U.S. Secretary of State Marco Rubio also confirmed the ceasefire on his social media, commending the governments of India and Pakistan for their &#8220;wisdom, prudence, and statesmanship in choosing the path of peace.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Over the past 48 hours, <a href="https://twitter.com/VP?ref_src=twsrc%5Etfw">@VP</a> Vance and I have engaged with senior Indian and Pakistani officials, including Prime Ministers Narendra Modi and Shehbaz Sharif, External Affairs Minister Subrahmanyam Jaishankar, Chief of Army Staff Asim Munir, and National Security Advisors Ajit…
&mdash; Secretary Marco Rubio (@SecRubio) <a href="https://twitter.com/SecRubio/status/1921175185836708140?ref_src=twsrc%5Etfw">May 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The ceasefire agreement is significant as it comes at a time when tensions between India and Pakistan were escalating at an alarming rate. 
The conflict, which had its roots of Pakistan providing a safe haven for terrorists, had led to a series of military actions that threatened to destabilize both the countries. 
The successful mediation by the United States, as announced by President Trump, has brought a temporary halt to the conflict, potentially averting a major crisis. 
The impact of this ceasefire on the long-term relations between the two countries remains to be seen.

Trump Makes India-Pakistan Ceasefire Declaration In Casual Manner: 'Thank You For Your Attention To This Matter!'

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