California Declares State Of Emergency Over Los Angeles Warehouse Fire, Smoke

A UK official who attended the last round of US-Iran talks assessed that a deal was possible. Within hours of the talks ending, the US and Israel launched a surprise attack on Iran that started a region-wide war.  Sources speaking with the Guardian said Jonathan Powell, the UK National Security Adviser, attended the talks held […]

First $1 Billion, Now $50 Million: Khanna Says Wealth Tax "Must Not Stop At Billionaires" Rep. Ro Khanna (D-CA) - fresh off endorsing California's November ballot measure to seize 5% of billionaire wealth - published a Substack essay Wednesday titled, no really, "Why I Support a Billionaire Wealth Tax." He makes it roughly a dozen paragraphs before explaining that it isn't one. "The tax should not stop at billionaires, it must reach centimillionaires," Khanna writes, before spelling out exactly what that means: every fortune of $50 million and up, hit with a...

Archegos 2.0? Star AI Investor Dumps Assets To Citadel After Massive Levered Bets Blow Up Update (1130ET): The Wall Street Journal reports that Situational Awareness, the highflying artificial-intelligence-focused hedge-fund firm, sold the bulk of its stock portfolio to Ken Griffin's investment firm Citadel after suffering deep losses, according to people familiar with the matter. *  *  * Update (1000ET): Situational Awareness has exited all of their public investments, CNBC’s David Faber reports on air, citing people familiar with the situation. Faber reports that the liquidation was done “through one enormous trade." Roughly two-thirds of the assets...