White House Expected To Ask Congress for Extra $50 Billion for Iran War

Dorsey's Block Fires Nearly Half Of The Company In 'Massive' AI Bet, Sending Shares Soaring One week after WIRED reported that things were pretty dismal over at Jack Dorsey's payment processing company Block (formerly Square), the company announced that they are cutting 4,000 employees - nearly half of their headcount - in order to invest 'heavily' in artificial intelligence tools to run more efficiently, including its own called Goose, Bloomberg reports.  The news sent shares up over 30% in after hours trade. "We are taking bold and decisive action here, but we’re doing it from a position of...

Futures, Bonds Tumble, Oil Surges After Middle East Attacks Resume Summary Equity Futures Tumble, Oil Surges On Fresh Middle East Strikes  US forces carried out airstrikes on an Iranian military site and imposed new sanctions to prevent Tehran from profiting from vessels transiting the Strait of Hormuz. In response, Iran targeted the American airbase from which the attack originated, according to a Tasnim report, which cited the Islamic Revolutionary Guard Corps. Kuwait also said it’s responding to hostile missile and drone threats New US strikes in Iran reported, after Iranian drone intercepts in Hormuz area. Trump red line (PBS):...

Tehran Claims US Faces Escalating Economic Fallout From 'War Of Choice' As Hardship Mounts Inside Iran Iranian Foreign Minister Abbas Araghchi warned Saturday that the United States would face mounting economic fallout from its "war of choice" against Iran, as both sides appear settled into a long game of waiting to inflict the most severe economic and political damage on the other. In a post on X, Araghchi said Americans would bear the escalating financial costs of the conflict with Tehran. "Put aside gas price hike and stock market bubble. Real...