cnbc_topnews

Warren, Schiff urge SEC to probe Trump Media's paid service giving faster access to Trump's posts

📰 source: cnbc_topnews · 💼 business

sens. elizabeth warren and adam schiff asked the sec to investigate trump media & technology group over its truth api service, which sells faster access to president donald trump's truth social posts for up to $100,000 a month. the senators argue this is an 'outrageous abuse' that undermines everyday investors and could violate laws against insider trading and market manipulation. they want sec chair paul atkins to complete a legal analysis before the service launches on aug. 1.

trump media pushed back, accusing the senators of ideological opposition to free markets or failing to grasp the distinction between public and nonpublic information. the company's stock, trading on the nasdaq as djt, has fallen about 80% since late march 2024. truth api provides real-time access to trump's posts automatically, which the senators say could advantage high-frequency trading firms. trump's family remains the largest stakeholder.

why it matters: senators probe whether selling early access to trump's posts violates insider trading laws, could reshape regulation of political social media data.

source: cnbc_topnews
sentiment: -0.30 · impact: 0.60

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects