A federal judge in San Francisco temporarily blocked the White House from firing hundreds of thousands of government employees in a ruling late Friday night.
Why it matters: It's the latest and broadest setback for President's Trump and DOGE's chainsaw efforts to radically slash and burn the federal government.
Treasury Secretary Scott Bessent warned Speaker Mike Johnson on Friday to raise the debt ceiling by mid-July, in case the government's extraordinary measures run out while Congress is on its August vacation.
Why it matters: The new so-called X-date is slightly more urgent than the messaging of just a few days ago, when the head of the Congressional Budget Office reportedly projected the government's cash and extraordinary measures might last until early September.
DraftKings CEO Jason Robins told investors on an earnings call today that live betting — wagers placed on a game while it's happening — represented more than 50% of the amount bet on the sportsbook in the first quarter.
It's the first time it's been a majority. Added Robins, "We think there's even more upside from there."
The big picture: Live betting is generally believed to drive deeper viewer engagement, and many broadcasts have jumped in by catering to the demographic with in-game graphics on betting lines.
The U.S. and China have been trading jabs and flexing ahead of this weekend’s trade talks.
But with the fates of businesses, consumer products, and jobs hanging in the balance, the two global superpowers are locked in the world’s most expensive game of chicken.
Why it matters: The pain that has already reverberated from the sky-high tariff rates between the world’s two largest economies won’t fade quickly — even if they broker a deal this weekend.
The United States is ripping up longstanding trade arrangements, developing more hostile relationships with allies, and undermining independent institutions, all while rapidly running up more debt.
The big picture: That's a recipe for the role of the U.S. dollar as global reserve currency — unquestioned since the end of World War II and at a high-water mark just a decade ago — to fade.
President Trump on Friday suggested possibly cutting tariffs on China to 80%, ahead of trade talks in Switzerland scheduled for Saturday.
Why it matters: Reducing the 145% levy to80% would still be higher than Trump's original reciprocal tariff on China, and also significantly more than early reports suggested was possible.
The number of people with full-time equivalent jobs as digital creators in the U.S. jumped from 200,000 in 2020 to 1.5 million in 2024, according to a new report.
Why it matters: Creators are now the largest and fastest-growing segment of the 28.4 million internet-dependent jobs in the U.S.
