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Trump expands generics tariff, broadens Section 232 scope

President Donald Trump unveiled a phased tariff plan for imported generic drugs, imposing a zero tariff for two years starting August 1, 2026, then escalating to 100% for one year and 200% thereafter to push onshoring of U.S. production and penalize companies that don’t build domestic facilities. The move expands the administration’s pharmaceutical trade policy after an earlier Section 232 action and signals potential broader application beyond generics to reshape drug supply chains.

11 sources

Photo: 4300streetcar / Wikimedia Commons (CC BY 4.0)

Alaska Air Posts Q2 Loss, Downgrades Q3 View

Alaska Air posted a second-quarter loss and forecast third-quarter earnings near or below Wall Street expectations as jet fuel costs stay high amid renewed Iran-related tensions, pressuring margins. The airline is diversifying fuel sourcing and raising fares to offset costs, with Q3 guidance ranging from break-even to about $1 a share and continued attention on fuel-driven earnings pressure.

14 sources

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New Jersey: 6,600 Noncitizens Registered to Vote

A software error at the New Jersey Motor Vehicle Commission caused about 6,600 non-citizens to be added to the state’s voter rolls between June 2023 and June 2024, with fewer than 400 of them ultimately voting; officials say they are removing those erroneously registered and have launched an independent investigation into the vendor IDEMIA. Gov. Mikie Sherrill framed the incident as a voter-registration integrity issue amid ongoing scrutiny from President Donald Trump, calling for transparency and accountability while noting the issue predates her tenure.

22 sources

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US Private Payroll Growth Slows in June

ADP reported June private-sector hiring rose 98,000, below the 110,000 consensus, signaling cooling in payroll growth, while early July figures point to a continued slowdown at roughly 16.5k per week. Markets reacted with dollar moves as wage trends and payroll data continue to shape expectations for upcoming inflation and policy actions.

7 sources

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ADNOC Approves $6.2B Umm Shaif Gas Project

ADNOC has taken a final investment decision worth about $6.2 billion to develop the Umm Shaif gas cap in Abu Dhabi with TotalEnergies, Eni and CNPC, aiming to unlock more than 600 million standard cubic feet per day by 2030 and strengthen the UAE’s gas supply and LNG capabilities. The investment reflects the UAE’s push to boost domestic gas output and energy security amid rising global demand and regional tensions, with related developments like the Bab gas cap expanding output and LNG capacity.

22 sources

UK unemployment holds at 4.9% in May

UK unemployment stayed at 4.9% for the three months to May 2026, even as payroll data showed a drop in company payrolls and vacancies continued to ease, pointing to a mixed jobs picture. Wages remained firm, with regular pay at about 3.4% and total pay higher, while employment rose overall and second jobs increased, underscoring a still-tight but gradually softening labor market.

17 sources

Photo: KMJ Original uploader was KMJ at de.wikipedia / Wikimedia Commons (CC BY-SA 3.0)

Crown Holdings Q2 Earnings Beat Estimates, Shares Rally

Crown Holdings' Q2 2026 earnings beat expectations, reporting non-GAAP earnings of $2.49 per share and about $3.668 billion in revenue, prompting a roughly 4% after-hours stock rise as demand remains strong. The release also highlights insider selling alongside significant institutional investor activity, underscoring mixed internal caution with sustained external interest from major funds.

9 sources

Fed Chair Warsh: Crypto On Its Own, No Bailouts

Kevin Warsh, Trump’s nominee to head the Fed, says the central bank will not bailout crypto or any sector and will act to mitigate risks while keeping politics out of policy. His personal crypto holdings—reported to be well over $130 million—highlight the tension between his views and his own portfolio.