The Trump administration on Wednesday said it paused $175 million in federal funding to the University of Pennsylvania over its transgender athlete policy.
Why it matters: President Trump has targeted and threatened universities it believes have not complied with the administration's new policies on gender, race, identity and research, prompting hiring freezes at some schools.
Ziff Davis, one of the largest publicly-traded digital media companies, has acquired TheSkimm, executives told Axios. The women-focused newsletter company will sit within Everyday Health Group, Ziff Davis' health content arm.
Why it matters: TheSkimm's value proposition to any prospective buyer has always been its audience of highly engaged millennial women. Everyday Health Group is one of the largest health and wellness media publishers in the country, and its audience heavily skews female.
The Federal Reserve left interest rates unchanged Wednesday while noting increased economic uncertainty and slashing growth forecasts, at a time when trade and other policy areas are in extreme flux.
Why it matters: With the economy showing pockets of weakness, the Fed is opting for a cautious approach, even as its leaders see risks ahead from a volatile policy environment.
The Trump administration has announced the federal government will no longer unequivocally prohibit contractors from having segregated restaurants, waiting rooms and drinking fountains.
The Abu Dhabi-based wealth fund ADQ and U.S. heavyweight Energy Capital Partners aim to invest over $25 billion in projects to power data centers and other industrial consumers.
Why it matters: Their new U.S.-focused, 50-50 partnership unveiled Wednesday is stark evidence that AI's voracious power demand is attracting fresh capital as the nation's electricity needs rise.
Following Google's acquisition of Wiz, the cybersecurity market has lost its best bet at a flashy IPO anytime soon.
Why it matters: A volatile economy and a challenging security sales landscape make public exits increasingly difficult and unattractive, analysts tell Axios.
Ripple CEO Brad Garlinghouse says the SEC will drop a long-running and crucial case over the $150 billion crypto asset xrp.
Why it matters: This has been one of the most watched cases in the digital asset industry, dating back to the final days of the first Trump administration.
Three technology themes will define the future of the auto industry, so expect you'll be reading about them regularly here:
Electric vehicles
EVs have grown to about 9% of all new cars sold in the U.S., but despite big discounts and more choices, charging and affordability are still a hindrance.
Even the market leader, Tesla, is struggling. Sales have plummeted worldwide as rivals compete for attention and controversy grows over CEO Elon Musk's political activity.
If President Trump yanks tax credits and manufacturing support for EVs as promised, higher prices and slower EV adoption are likely.
Republican lawmakers are also looking for a legal path to repeal California's EPA waiver, which permits it and 11 other states to set EV mandates phasing out gasoline cars by 2035.
Three technology themeswill define the future of the auto industry.
Electric vehicles
EVs have grown to about 9% of all new cars sold in the U.S., but despite big discounts and more choices, charging and affordability are still a hindrance.
The emergence of intelligent, electric, automated vehicles is every bit as monumental as the shift away from the horse-and-buggy in the early 20th century.
Why it matters: Gigantic leaps in artificial intelligence and other technologies are enabling a future where cars don't crash, or pollute the air, and everyone can go where they want, regardless of their age, abilities or the size of their wallets.
When President Trump issued his executive order to not enforce the TikTok ban for 75 days, it seemed to be in violation of the divestiture law's letter and intent.
But so far no one has sued, even though courts have been inundated with complaints over many of Trump's other executive orders.
Why it matters: The lack of litigation may give Trump more incentive to further extend TikTok's life, even if a viable deal is not yet in hand.
Attorney General Pam Bondi on Tuesday characterized a recent string of vandalism at Tesla dealerships as acts of "domestic terrorism," and threatened "severe consequences" for anyone involved.
Why it matters: President Trump and his allies are fuming about the #TeslaTakedown movement, which has targeted DOGE leader Elon Musk's signature brand.
Stable Sea, a startup providing services to the rapidly growing stablecoin industry, has raised $3.5 million in a round led by Kindred Ventures, with others participating.
Why it matters: Stabecoins have become the killer application of blockchains, one poised for growth if the rules governing such tokens in the largest economy in the world get sorted out this year.
The headline on Bank of America's monthly fund manager survey is "Bull crash" — the idea being that when sentiment plunges as much as this, that's normally a positive sign for the market.
Why it matters: As Warren Buffett — who's handily beating the market this year — likes to say, "Be fearful when others are greedy, and greedy when others are fearful."
A book four years in the making: New York Times media correspondent Michael Grynbaum will be out July 15 with "Empire of the Elite: Inside Condé Nast, the Media Dynasty that Reshaped America."
Why it matters: It's billed as a cultural history of Condé Nast — publisher of the New Yorker, Vanity Fair, Vogue and GQ — as titan of the "once-glamorous magazine world," and "the profound influence of its magazines on the last half-century of American life."
Trump administration spending cuts and freezes to federal grants are roiling major academic medical research programs, prompting layoffs, and leading administrators to abandon studies and rescind admissions offers to graduate students.
Why it matters: Experts predict the face of university research could be permanently changed, affecting work on treatments for cancer, Alzheimer's, and diabetes, among other conditions, along with studies on the underpinnings of disease.
Radio Free Europe/Radio Liberty is suing the Trump administration, Kari Lake, the U.S. Agency for Global Media and USAGM acting CEO Victor Morales over moves to terminate the news organization's federal funding.
The big picture: The lawsuit that was filed Tuesday says "Congress has appropriated funds specifically for RFE/RL" and "expressly directed" the USAGM to make these available to the outlet in the form of annual grants.
