56.5 F
Chicago
Friday, October 30, 2026
Home Blog Page 1538

Austria In Shock After School Shooting Leaves 10 Dead, Dozens Injured

Austria In Shock After School Shooting Leaves 10 Dead, Dozens Injured

Submitted by Thomas Brooke of Remix News

Austria is in mourning after the worst school shooting in the country’s modern history unfolded on Tuesday morning in Graz.

A 22-year-old former student of the BORG Dreierschützengasse opened fire shortly before 10 a.m., killing at least nine people and injuring at least 28 others before taking his own life in a school restroom.

According to initial reports from Kronen Zeitung, the attacker used both a shotgun and a handgun during the rampage, which targeted two classrooms. Authorities confirmed that the gunman, a former pupil of the school, had recently acquired the weapons and may have been motivated by a long-standing grievance over bullying.

Governor Mario Kunasek of Styria (FPÖ) expressed deep shock in a public statement, “It is unbelievable what happened today in Graz. As governor and as a father, I am deeply saddened by this act of madness, which has brought so much disaster and incredible suffering. My thoughts are with the innocent victims, families, and teachers.”

Austrian Chancellor Christian Stocker and members of the federal government traveled to Graz to address the nation. A press conference was scheduled for the afternoon to provide further details about the tragedy.

The scene was rapidly secured by emergency responders, including the elite Cobra police unit. Authorities have since declared the situation safe, although the area around the school remained cordoned off for much of the day. Two care centers were set up to provide support for victims, families, and witnesses.

The Styrian hospital association KAGes confirmed that at least 28 people, including students and staff, were injured in the attack and are receiving treatment. Victims were distributed across multiple hospitals in Graz, with psychological care being extended to both families and medical personnel.

Video footage circulated online shows the moment gunfire erupted inside a classroom, and additional clips depict emergency teams sweeping through the school with weapons drawn.

Terrified students can be seen fleeing the building or waiting in shock as medics carry away the wounded.

Continue reading at Remix news

Tyler Durden
Tue, 06/10/2025 – 10:05

US-China Trade Talks “Going Well” On Second Day, Lutnick Says

US-China Trade Talks “Going Well” On Second Day, Lutnick Says

US-China trade talks are again in the spotlight, with a second day of negotiations taking place in London aimed at beefing up the fraying truce between the world’s two biggest economies. 

As he arrived, Commerce Secretary Howard Lutnick said the talks were “going well” and he expected another full day of discussions. Meanwhile, markets remain on edge as the world’s largest economies try to agree to allow exports of key tech and industrial goods and avoid escalating their trade war. The Bloomberg Dollar Spot Index, which has fallen sharply this year as trade tensions undermine confidence in US assets, is around its lowest levels since 2023.

The teams led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng reconvened Tuesday just after 10:40 am at Lancaster House. The Georgian-era mansion near Buckingham Palace has hosted major addresses by UK prime ministers, speeches by central bank governors and parties for Britain’s royal family.

Export controls are at the top of the agenda. Kevin Hassett, director of the National Economic Council, said Monday that the talks were likely to result in Beijing quickly releasing rare earths for export, and Washington easing China’s access to semiconductors. A subsequent rally in chip stocks helped lift major indexes.

According to Bloomberg, the key issue this week is re-establishing terms of an agreement reached in Geneva last month, in which the US understood that China would allow more rare earth shipments to reach American customers. The Trump administration accused Beijing of moving too slowly, which threatened shortages in domestic manufacturing sectors.

In return, the Trump administration is prepared to remove a recent spate of measures targeting chip design software, jet engine parts, chemicals and nuclear materials, people familiar with the matter said. Many of those actions were taken in the past few weeks as tensions flared between the US and China (however, as discussed here, “China’s Need For US Chemicals Greater Than US Need For Rare Earths“).

A month ago Beijing and Washington agreed to a 90-day truce through mid-August in their crippling tariffs to allow time to resolve many of their trade disagreements — from tariffs to export controls.

At the same time, Trump’s trade team is scrambling to secure bilateral deals with India, Japan, South Korea and several other countries that are racing to do so before July 9, when the US president’s so-called reciprocal tariffs rise from the current 10% baseline to much higher levels customized for each trading partner.

Separately, Chinese President Xi Jinping on Tuesday held his first phone conversation with South Korea’s newly elected President Lee Jae-myung and called for cooperation to safeguard multilateralism and free trade.

“We should strengthen bilateral cooperation and multilateral coordination, jointly safeguard multilateralism and free trade, and ensure the stability and smoothness of global and regional industrial chains and supply chains,” Xi said, according to the CCTV report.

Tyler Durden
Tue, 06/10/2025 – 09:45

UK Imposes Historic Sanctions On Hardline Israeli Ministers

UK Imposes Historic Sanctions On Hardline Israeli Ministers

In a historic shift in UK-Israel relations, Britain is imposing formal sanctions on hardline Israeli ministers Bezalel Smotrich (Finance) and Itamar Ben Gvir (National Security) after months of inflammatory statements about Gaza have caught the world’s attention. 

The sanctions, unveiled Tuesday, are to include asset freezes and travel bans, following similar measures from the governments of Canada, Australia, New Zealand, and others. These countries have previously sanctioned various radical Zionist settler groups and individuals, something the US also did under Biden.

Otzma Yehudit leader Itamar Ben Gvir, Shutterstock

Ben Gvir has several times called for the “voluntary emigration” of Gazans, and he along with Smotrich have frequently made statements overtly backing an ethnic cleansing program.

“My right, my wife’s, my children’s, to roam the roads of Judea and Samaria are more important than the right of movement of the Arabs,” Ben Gvir said for example in 2023 of occupied West Bank areas.

Both Israeli ministers have actively supported the most extreme settler groups operating in the West Bank, made up of individuals who call for the removal of Palestinians by force or even death. They’ve long been involved in movements and political parties who also advocate for the expulsion of all Arabs from Israeli society.

According to an Al Jazeera backgrounder:

The 47-year-old lawyer and politician has led the far-right party Jewish Power (Otzma Yehudit) since 2019, and was sworn into the cabinet after last year’s elections.

He was later appointed the national security minister and handed control of Israel’s Border Police division in the occupied West Bank.

A settler in Kiryat Arba, one of the most radical settlements in the occupied West Bank (all of which are illegal under international law), Ben-Gvir has been convicted of incitement to racism, destroying property, possessing a “terror” organisation’s propaganda material and supporting a “terror” organization – Meir Kahane’s outlawed Kach group, which he joined when he was 16.

Ben Gvir responded to the UK’s sanctions move later on Tuesday. He expressed “contempt for the White Paper” – characterizing it as akin to the 1939 UK policy paper limiting Jewish immigration to British-administered ‘Mandatory Palestine’.

Itamar Ben Gvir and Bezalel Smotrich (right) at the Knesset, Flash90

“We survived Pharaoh, we will also survive Keir Starmer,” he said. “I will continue to work for Israel and the people of Israel without fear or intimidation!”

At a dedication ceremony for a new settlement near Hebron, Smotrich, Ben Gvir said that “Britain has already tried once to prevent us from settling the cradle of our homeland and we will not allow it to do so again.” He emphasized in front of settler groups, “We are determined to continue building.”

But ironically many of the same Western governments now sanctioning the two Israeli officials have long supplied heavy weapons to the Israeli military. These governments still remain a party to one side of this war which has resulted in the deaths of tens of thousands of civilians, and utter decimation of the Gaza Strip in the wake of the Oct.7, 2023 Hamas terror attacks, but there appears no peaceful solution on the horizon.

Tyler Durden
Tue, 06/10/2025 – 09:30

Multi-State Lawsuit Aims To Block Sale Of 23andMe Personal Genetic Data

Multi-State Lawsuit Aims To Block Sale Of 23andMe Personal Genetic Data

Authored by Aldgra Fredly via The Epoch Tmes,

A coalition of 27 states and the District of Columbia has taken legal action to prevent 23andMe from selling personal genetic data in its possession without customer consent.

The California-based biotechnology company filed for Chapter 11 bankruptcy on March 23 to facilitate the sale of its assets, sparking concerns over the handling of the sensitive genetic data it holds.

In a June 9 statement, the states said that customers should have the right to control the personal information they provided to the company and that 23andMe cannot sell the data like “ordinary property.”

“This isn’t just data – it’s your DNA. It’s personal, permanent, and deeply private,” Oregon Attorney General Dan Rayfield said in the statement. “People did not submit their personal data to 23andMe thinking their genetic blueprint would later be sold off to the highest bidder.”

The lawsuit states that 23andMe holds biological samples and genetic data from more than 15 million customers, which were collected through the sale of at-home genetic tests, and uses this data to determine customers’ ancestry information, lineal descent, and potential risk factors for certain diseases.

Last month, 23andMe announced that it has entered into a definitive agreement with Regeneron Pharmaceuticals for the sale of the company and its assets. The deal still requires court approval. The company later requested the court to reopen bidding on its assets after receiving a $305 million offer from its co-founder Anne Wojcicki.

In their lawsuit, the states contended that 23andMe should obtain expressed consent from its customers before transferring or selling their data to another company.

“Virtually all of this ‘customer data’ is immutable. If stolen or misused, it cannot be changed or replaced,” they stated in the suit. “In other words, the magnitude of the data in this proposed sale stretches far beyond the 23andMe consumers, impacting those who have no awareness of the sale as well as human beings who do not even exist yet.”

Customers have also been advised to delete their accounts and personal information from the company’s website to prevent their data from being sold.

Joining Rayfield in the suit are attorneys general from Arizona, Colorado, Connecticut, the District of Columbia, Florida, Illinois, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Missouri, New Hampshire, New Mexico, New York, North Carolina, Oklahoma, Pennsylvania, South Carolina, South Dakota, Utah, Vermont, Virginia, Washington, West Virginia, and Wisconsin.

23andMe did not return a request for comment by publication time.

According to the company’s privacy policy page, if 23andMe goes bankrupt and changes ownership, its user data “may be accessed, sold, or transferred as part of that transaction” but the privacy provisions will still apply under the new entity.

In 2023, hackers leaked the personal data of nearly 7 million 23andMe customers on an online forum.

These data encompassed users’ origin estimation, phenotype, health information, photos, and identification data. The company said at the time that it believed “threat actors” gained access to accounts where users recycled login credentials.

Tyler Durden
Tue, 06/10/2025 – 09:15

UBS Survey Finds “Little Growth” In Smartphone Units “Over Next Few Years” 

UBS Survey Finds “Little Growth” In Smartphone Units “Over Next Few Years” 

Apple’s annual developer conference on Monday underwhelmed on the artificial intelligence front, and new survey data from UBS showed softening demand for iPhones. On a broader note, UBS highlighted a cooling period has arrived in overall interest in purchasing smartphones, with the U.S. market seeing the sharpest pullback.

According to UBS Evidence Lab’s 2Q25 survey of 7,500 consumers across five countries (US/UK/Germany/Japan/China), the 12-month forward smartphone purchase intent fell from 36% in 2Q25 from 39% in 4Q24, flat YoY. The U.S. experienced the sharpest decline, sliding to 37% from 50% in 4Q24 and 44% in 2Q24. 

“Of particular note was a sharp decline in 12M forward purchasing intents in the US to 37% (from 50%/44% in 4Q24/2Q24),” UBS analyst David Vogt wrote in the note, attributing the drop to front-loaded demand ahead of potential new U.S. tariffs.

Sources: UBS Research, UBS Evidence Lab

The 12-month forward purchase intent share for iPhones fell to 14% from 18% in 4Q24, with the U.S. showing a significant drop to 17% from 24%. Samsung’s purchase intent remained stable at around 9%. 

The aspirational replacement cycle, or the expected or intended time that consumers plan to wait before replacing their current smartphone with a new one, lengthened to 31.1 months (2.59 years), up from 29.7 months in 4Q24, indicating slower replacement rates, particularly in the U.S. 

Sources: UBS Research, UBS Evidence Lab

“Among the respondents that indicated they are likely to purchase a device within the next 12M, 82% of indicated they would be willing to accommodate some sort of price hike should smartphone OEMs decide to raise ASPs to offset pressures to BoM cost from tariffs,” Vogt noted. 

Sources: UBS Research, UBS Evidence Lab

On the Generative AI front, the much-hyped upgrade supercycle that Wall Street analysts forecasted last fall with the launch of AI-enabled iPhones has largely failed to materialize.

Interest in Generative AI-enabled smartphones rose to 19% from 16% in 4Q24), with China showing the most enthusiasm at 78%. Japan was the only region with negative net interest, while the U.S. had only 8%. 

Sources: UBS Research, UBS Evidence Lab

Only 34% of respondents would pull forward purchases or pay extra for AI features… 

Sources: UBS Research, UBS Evidence Lab

Overall, UBS forecasts modest year-over-year growth in smartphone unit sales of around 1% in 2025, followed by flat growth in 2026. 

“We believe investors expect little growth, if any, in smartphone units over the next few years,” Vogt emphasized. 

Not the great news for Apple…

Tyler Durden
Tue, 06/10/2025 – 07:45

Gavin Newsom And His Cruel Notion Of ‘Cruel’

Gavin Newsom And His Cruel Notion Of ‘Cruel’

Authored by Victor Davis Hanson via American Greatness,

Recently, Gov. Newsom weighed in on the Trump administration’s efforts to undo the last four years of border destruction, when an estimated 10-12 million illegal aliens entered the U.S. unlawfully—among them thousands with criminal records.

Of the recent Los Angeles efforts of ICE to detain those who entered and reside here illegally, the governor proclaimed:

“Continued chaotic federal sweeps, across California, to meet an arbitrary arrest quota are as reckless as they are cruel. Donald Trump’s chaos is eroding trust, tearing families apart, and undermining the workers and industries that power America’s economy.”

Dissect that statement, and almost everything Newsom said was either not factual or misleading.

“Chaotic?” What is chaotic is allowing 12 million unaudited migrants into the U.S. ahead of those waiting years for background checks and legal permission.

The current antidote to a truly chaotic, nonexistent border was to bring some legality and order back to immigration—and not to perpetuate a wild-west border, drug smuggling, cartel profiteering, and child trafficking and abandonment, which were the Biden-era norms.

Chaotic is 1,000 rioters in southern California swarming ICE officers, endangering their safety and lives—and then being contextualized, excused, or even supported by the governor of the state, who supposedly is an upholder of our laws and their enforcement.

Each time Mayor Karen Bass and Governor Gavin Newsom side with violent protests and the intimidation of ICE officers, the greater the chance that an officer will be seriously injured or killed—and the violence will spike. Apparently, both think they are riding a wave of public support, when in fact the latest CBS poll found 54 percent of Americans support such deportations.

California’s elected officials seem clueless that the optics of illegal immigrants torching autos, attacking law enforcement, or pelting bystanders, while waving Mexican flags, are terrible. What is the logic of waving the flag of the country to which one is violently opposed to returning, while assaulting the officers and infrastructure of the very nation in which one is demanding to remain?

“Arbitrary arrest quota?” Consider the math. In just four years, Biden allowed between 10–12 million illegal entries, or 2.5–3 million a year, or somewhere between 200,000–300,000 per month, or between 7,000–8,300 a day.

Trying to find, audit, and deport even 10–20 percent of that daily figure, or 800–2000 a day over four years, is not an “arbitrary arrest quota.”

It is instead a formidable but often vain effort to return illegal immigration numbers to where they were before Biden’s systemic lawlessness.

In other words, with the current level of deportations, ICE cannot possibly reduce the population of illegal aliens back to the pre-Biden range of 10–12 million resident illegal aliens before the additional and contrived 10–12 million four-year influx.

In Newsom’s world, how many million breaking the laws and swarming the border are acceptable? Ten, twelve, or twenty million?

“Reckless?” What is reckless is destroying the southern border. Reckless is also allowing an unchecked amount of cartel fentanyl, disguised as prescription or less toxic illicit drugs, to kill 70,000–100,000 Americans per year.

Reckless is empowering the cartels with lucrative trafficking fees for facilitating illegal immigration across a destroyed border.

Reckless is drumming out of the military 8,500 American soldiers who balked at the experimental mRNA vaccine while allowing more than 10 million illegal aliens to flood the border without any medical or inoculation scrutiny.

Reckless is demanding 2–3 forms of independent IDs from U.S. citizens to qualify for the required “real ID” to fly, while allowing tens of thousands of illegal aliens to be exempt from even rudimentary identification.

Reckless is a governor leveling the highest income tax rates in the U.S., the highest gas taxes, among the highest aggregate sales taxes, and still ending up with annual multibillion-dollar deficits.

Reckless is driving 200,000–300,000 middle-class taxpayers out of the state every year, who cannot afford sky-high California prices and receive so few services in return for such high state taxes.

“Cruel?” Cruel is overtaxing state social service facilities with hundreds of thousands of foreign nationals, whose sheer numbers imperil the health care of California’s own beleaguered citizen population.

As far as ‘cruel’ governance, perhaps it is defined as the highest gas prices in the nation while sitting atop some of the largest gas and oil reserves in the country. Cruel is watching poor people in Fresno or Tulare County buy gas in increments of $30 in cash rather than filling up their pickups at a prohibitive cost of $130.

Cruel is the California high-speed rail boondoggle that has wasted nearly $30 billion without a single foot of track rail installed and may well be abandoned—its concrete overpasses now testaments to our modern Stonehenge monoliths.

Cruel are the state’s ossified “freeways”—especially the 101, the 99, and I-5—that have remained unchanged for the last half century and record some of the deadliest traffic statistics per mile driven in the U.S.

Cruel is what the state and city of Los Angeles did to their own residents during the recent fires.

Cruel is a derelict mayor—shamelessly attacking those who are trying to enforce federal law—junketing in Ghana of all places at the height of the fire season. Mayor Bass has about as much concern over violent protestors burning cars in Los Angeles as she did for neighborhoods burning while she junketed in Ghana.

Cruel was the Los Angeles deputy mayor (tasked with public safety, no less), who was arrested and convicted for reporting fake anti-Israel bomb threats.

Cruel was the Los Angeles water and power director who allowed a life-saving reservoir to remain abandoned and empty.

Cruel was the fire chief who obsessed over DEI hiring while leaving scores of fire hydrants across the city inoperative.

Cruel were state directives that prevented sane clearing of brush kindling that guaranteed plentiful fuel to ensure an inferno among Pacific Palisades homes.

Cruel were the Coastal Commission and the city of Los Angeles that make it almost impossible to rebuild burned-out homes promptly.

Cruel are destructive regulatory policies that have driven out of the state everything from Tesla to refineries to insurance companies, ensuring that the struggling and vanishing middle classes cannot afford the staples of life.

Cruel are the roughly 40,000 annual traffic accidents in Los Angeles County, after which the culpable drivers often flee the scene of the accident. Does the governor or mayor ever ask why that is so, or worry over the some 8,000 victims who are killed or injured?

Cruel are the state’s “renewable energy” mandates that have skyrocketed the cost of electricity and impoverished state residents—one in four of whom now default on their monthly power bills.

Cruel is the boutique leftism of a generation of elite multimillionaire Bay Area politicians—from Jerry Brown to Nancy Pelosi to Gavin Newsom—whose wealth, office-holding, influence, and zip codes ensured that they were never subject to the baleful consequences of their virtue-signaling ideologies that fell only on distant and vulnerable others.

Trust? Who could trust the state of California, which has become a bifurcated medieval society of the very rich and the subsidized poor, with a complete disdain for the struggling middle class who cannot afford houses, power, fuel, or insurance?

“Undermining?” Undermining is better defined as a governor and mayor deliberately ignoring or nullifying federal law in neo-Confederate fashion and siding with violent protestors, while offering the offenders implicit assurances of impunity.

Tyler Durden
Tue, 06/10/2025 – 07:20

Redburn Slaps McDonald’s With Rare Downgrade As GLP-1 Drugs Reshape Consumer Habits

Redburn Slaps McDonald’s With Rare Downgrade As GLP-1 Drugs Reshape Consumer Habits

As we’ve previously noted, the shift toward “better-for-you” consumption is well underway, whether fueled by the “Make America Healthy Again” (MAHA) movement or the increasing adoption of miracle weight-loss drugs suppressing appetites. Either way, the inflection point for U.S. restaurants has arrived.

Redburn Atlantic analyst Edward Lewis became the first in recent memory to downgrade McDonald’s, cutting the stock from “Buy” to “Sell” on the premise that GLP-1 weight-loss drugs will suppress consumer appetites.

Lewis now stands alone among the 41 analysts tracked by Bloomberg with a bearish stance on McDonald’s. He set a Street-low price target of $260, well below the $332 average and the stock’s most recent close of $304.78.

Key reasons for the downgrade:

  • GLP-1 weight-loss drugs are curbing appetites and pose a long-term structural threat to the fast-food industry.

  • Lewis argues these drugs will trigger broad behavioral shifts, impacting group dining and reducing habitual demand, especially among lower-income consumers.

  • He warns that what looks like a “1% drag” today could compound into a 10%+ hit over time.

Additional concerns:

  • U.S. consumers are fatigued after years of menu price inflation.

  • Rising tariffs are squeezing brands with limited pricing power.

Also noted: 

  • Initiated coverage on Domino’s Pizza with a sell rating.

  • Rated Chipotle as neutral.

  • Upgraded Yum Brands to buy, citing a more reasonable valuation, conservative expectations, and strong international exposure.

Separately, last month, we reported that Goldman analysts Leah Jordan and Eli Thompson informed clients that early indications suggest consumers are shifting and seeking “better-for-you options” at the supermarket.

“Softer snacking demand with outperformance in better-for-you options,” Jordan said. 

On Monday, Jordan downgraded General Mills and Conagra Brands due to several headwinds, “including increasing cost pressures (raw materials, tariffs, A&P investments) along with tepid volume demand amid ongoing consumption shifts toward fresh and increasing competition from private label and smaller brands.” 

Let’s hope these healthy consumer shifts are here to stay amid a nationwide health crisis.

Tyler Durden
Tue, 06/10/2025 – 06:55

China Is Deliberately Using Fentanyl To ‘Kneecap’ The US, FBI Director Says

China Is Deliberately Using Fentanyl To ‘Kneecap’ The US, FBI Director Says

Authored by Frank Fang via The Epoch Times,

Communist China has a long-term plan to weaken the United States by fueling the fentanyl crisis, according to FBI Director Kash Patel.

Patel sat down for a wide-ranging interview with podcaster Joe Rogan on June 6, saying that President Donald Trump has done an “amazing job” at going after drug trafficking organizations and shoring up the southern border. However, the root of the U.S. fentanyl crisis lies with the Chinese Communist Party (CCP), he added, due to China’s exports of fentanyl precursors.

One thing is clear is that China is “not making a ton of money” with its precursor exports, Patel added.

“In my opinion, the CCP [has] used it as a directed approach because we are their adversary,” Patel said. “And their long-term game is, ‘how do I,’ in my opinion, ‘kneecap the United States of America, our largest adversary?’” Patel said.

Patel said that the long-term plan is to “take out generations of young men and women” who could have taken on jobs such as a police officer, a soldier, or a teacher.

“That’s what they [China] are doing, when you wipe out tens of thousands of Americans a year. It’s a long-term plan for them,” he said.

In 2024, there were an estimated 48,422 deaths involving synthetic opioid fentanyl, according to data from the CDC.

In March, Trump imposed an additional 20 percent on Chinese imports over China’s role in facilitating the production of fentanyl.

Patel said China has lied to the world about stopping fentanyl precursors.

“What they did was to trick the world. They came out and said, ‘Hey, we’re gonna sell precursor X.’ They’re like, ‘So now we’re out of the fentanyl trade entirely,’” Patel said. “The problem is, there [are] 14 other precursors you can use to make fentanyl, and they’re still shipping all of those.”

India and Canada

Since assuming the post of FBI chief, Patel said his bureau started a “massive enterprise” to go after China-based companies making fentanyl precursors. Now, the Chinese firms are shipping precursors to India and Canada instead, he added.

“They’re taking the precursors up to Canada, manufacturing it up there, and doing their global distribution routes from up there, because we’ve been so effective down south,” Patel said.

Patel said he “just got off the phone with the Indian government.”

“So my FBI is over there working with the heads of their [Indian] government, law enforcement authorities to say, ‘We’re going to find these companies that buy it, and we’re going to shut them down. We’re going to sanction them. We’re going to arrest them where we can. We’re going to indict them in America if we can. We’re going to indict them in India,’” Patel said.

The Drug Enforcement Administration (DEA) issued its latest annual threat assessment report in May, expressing concerns about sophisticated fentanyl “super laboratories” in Canada.

The report noted that while fentanyl originating from Canada remains small compared to the volume coming from Mexico, it still poses a concern. “These [Canadian] operations have the potential to expand and fill any supply void created by disruptions to Mexico-sourced fentanyl production and trafficking,” the report states.

In January, two pharmaceutical companies in India, Raxuter Chemicals and Athos Chemicals, were charged with criminal conspiracy to distribute and import fentanyl precursor chemicals into the United States, Mexico, and elsewhere. Bhavesh Lathiya, a founder and senior executive of Raxuter Chemicals, was arrested in New York City and indicted on similar charges.

The companies used deceptive and fraudulent practices to avoid detection, including mislabeling packages, falsifying customs forms, and making false declarations at border crossings, according to prosecutors.

In May, federal authorities arrested 16 individuals and seized more than 400 kilograms of fentanyl across five states, in the largest fentanyl bust in DEA history, according to the Department of Justice.

Patel warned that drug traffickers are producing counterfeit drugs laced with fentanyl and using pill presses to shape them like candy or gummy bears, making them more appealing to young people.

Three Chinese nationals and a China-based company were charged in May for allegedly importing pill presses and other equipment for making “lethal fake pills” into the United States.

“I promised the president, the American people, we will not have kids dying of fentanyl overdoses in our streets. Just give me a little bit more time. We have a massive operation going on around the world on this,” Patel said.

Tyler Durden
Tue, 06/10/2025 – 06:30

These Are The Top 10 US States By Defense Spending

These Are The Top 10 US States By Defense Spending

DoD contracts hit $609.2 billion across U.S. states in 2023, up $50.5 billion over the year.

Overall, Texas outranked Virginia as the leading recipient of Department of Defense spending—largely concentrated in the Dallas-Fort Worth area. Over the past decade, Texas’ share of defense spending has increased by 10% while Virginia’s has remained fairly stable.

This graphic, via Visual Capitalist’s Dorothy Neufeld, shows the top 10 U.S. states receiving defense spending, based on data from the U.S. Department of Defense.

Texas Receives the Biggest DoD Contracts

Here are America’s leading states for defense contracts and related spending in fiscal year 2023:

With $71.6 billion in spending, Texas ranks first overall, fueled by an $8.9 billion annual increase.

Lockheed Martin, one of the world’s largest arms companies, operates several factories in Texas, including an F-35 assembly plant. Meanwhile, RTX Corporation and General Dynamics run facilities across the state.

Following in second place is Virginia, home to 247,214 Department of Defense personnel. Strikingly, more than 228,000 acres of land are managed by the Department of Defense across the state. Along with the Pentagon and Marine Corps Base Quantico, it houses the world’s largest naval base.

In third spot is California, with $60.8 billion in spending. With more than 30 military installations and 161,000 active-duty military personnel, California plays a critical role in America’s military and national security operations. Together, defense and security activities contributed 5.1% to California’s GDP, equal to an estimated $196.7 billion in 2023.

To learn more about this topic from a global perspective, check out this graphic on military spending around the world.

Tyler Durden
Tue, 06/10/2025 – 05:45

Visualizing AI Innovation Across The Globe

Visualizing AI Innovation Across The Globe

AI is no longer a theoretical tool, only accessible in research labs. Today, it is a ubiquitous technology being adapted across every industry, driving intense global competition and spurring innovation.

For the second story in the AI For All series, Visual Capitalist partnered with ACT | The App Association to provide a global perspective on AI innovation.

A World of AI Innovation

With a healthy global spread of AI companies providing computing and foundational models, there is a robust competitive environment driving innovation.

Incumbents in the largest markets, who have the lead in the AI race, face fierce competition from scrappy AI startups around the globe.

It’s not just the vast U.S., Chinese, and European markets that are making advancements in AI. Innovators around the world, including from lower-middle-income nations (according to World Bank classifications) such as India, are thriving and competing on an equal footing.

Regulation or Innovation

Some policymakers are eager to regulate AI.

Rapidly evolving technology often prompts government overreactions, and when regulation overreaches, it risks stifling innovation

When balancing innovation and regulation, policymakers must ensure that the benefits they create outweigh the costs they impose.

A heavy-handed approach to AI regulation only strangles innovation or forces innovators into jurisdictions with less regulation. In either case, both consumers and competition suffer.

Are you looking for more insights into the world of AI?

The App Association will release its comprehensive guide on June 12th, 2025, examining how premature or overbroad antitrust action could jeopardize AI innovation and outlining a policy approach better aligned with the realities of emerging technology.

But if you can’t wait until the 12th, you can learn more about the AI economy here.

Tyler Durden
Tue, 06/10/2025 – 02:45