IBM Establishes Foundry

PROJECT SYNDICATE - -Nabil Ahmed, Director of Economic and Racial Justice of Oxfam America, suggests that the emergence of the world’s first trillionaire, Elon Musk, following SpaceX’s IPO, highlights significant implications for American capitalism and the concept of mega-monopoly.

While some perceive Musk's wealth as a triumph of technology, it arguably reflects a market reliance on monopolistic power, suggesting that his immense fortune—growing at over one million dollars per minute—has positioned him beyond the usual economic constraints.

Musk's net worth now surpasses that of nearly four billion individuals, representing 46% of the global population, emphasizing both the staggering scale of inequality and the government’s likely protective stance towards such influential figures. - - JIM CRAMER’S MAD MONEY - -No update - - WOMEN’S WEAR DAILY - -Shifting personal priorities are fundamentally altering consumer choices, as highlighted in Mastercard ’s inaugural Conscious Consumer Report.

While affordability, longevity, and brand trust remain significant, consumers increasingly seek options that reflect their personal values.

The report indicates that growth in secondhand shopping far surpasses traditional retail, particularly in clothing, with a rate over three times greater in leading circular shopping economies. - - DIGITIMES - - IBM is establishing a foundry named Anderon, aimed at manufacturing silicon wafers essential for quantum-computing processors.

This initiative represents IBM's strategic move to become a critical player in the emerging quantum economy.

The independent subsidiary is expected to commence production within the year, underscoring IBM's commitment to advancing quantum technology and reinforcing its role in the sector. - - TECHCRUNCH - -As quick commerce grows in India, Walmart-backed Flipkart announced the establishment of 1,000 micro-fulfillment centers since its Minutes service launch less than two years ago.

This initiative aims to enhance delivery speed to minutes, comparable to Amazon's ambitions in the same market.

Flipkart plans to increase its centers to 1,500 by the end of 2026, positioning itself as a strong contender in the quick-commerce landscape, currently dominated by competitors like Blinkit, which operates 2,243 centers. - - NATURE - -Brexit has significantly impacted European science, but recent developments indicate that the relationship between the UK and the EU in this domain is beginning to recover.

A notable achievement was announced in April, with the UK set to rejoin the Erasmus+ exchange program for students and staff, effective from 2027.

Moreover, the UK's share of funding from the EU's Horizon Europe initiative, valued at €95 billion, has also begun to climb since the UK's re-entry into the program in 2024 after a substantial decline in participation during the Brexit transition period. - - TALKING POINTS MEMO - -Federal judges in Fort Worth imposed maximum sentences on eight individuals linked to a July 2025 protest outside an ICE detention center that escalated to vandalism and police violence.

Benjamin Song received 100 years, Maricela Rueda 70 years, and six others were sentenced to 50 years each.

Daniel Sanchez Estrada, unconnected to the protest, received 30 years for document concealment.

Sentences will be served consecutively, indicating a severe legal stance.

The case is viewed as a reflection of the Trump administration's strategy to address political dissent, particularly targeting anti-administration groups labeled as "Antifa." After the convictions, former Attorney General Pam Bondi stated this action was part of a broader initiative to counter anti-government violence. - - PUNCHBOWL NEWS - -House conservatives, led by Rep.

Anna Paulina Luna (R-Fla.), are threatening to block legislative action unless the SAVE America Act is linked to a bipartisan housing bill, the 21st Century ROAD to Housing Act.

This bill is seen as the only significant piece of affordability legislation likely to reach President Trump's desk.

Luna warned that if Speaker Mike Johnson proceeds with a fast-tracked vote on the housing bill, she would oppose it and potentially disrupt the passage of other bills slated for discussion this week.

Meanwhile, the Senate is expected to pass the bipartisan housing bill, marking a crucial shift after a lengthy stalemate with the House. - - THE HILL - -Senate Republicans and some Democrats are increasingly concerned about a potential government shutdown this fall due to stalled bipartisan spending talks.

The cancellation of the markup for four appropriations bills, originally scheduled for Thursday, has intensified these fears.

Republicans, including Senate Appropriations Committee member Sen.

John Kennedy (R-La.), suspect that Senate Minority Leader Chuck Schumer (D-N.Y.) aims to create a funding standoff before the midterm elections.

Kennedy criticized Schumer's strategy, predicting a lack of agreement on spending levels and a potential government shutdown.

The breakdown in negotiations, led by Senate Appropriations Committee Chair Susan Collins (R-Maine) and Sen.

Patty Murray (D-Wash.), highlights a stark contrast to the previous year when bipartisan support for spending bills was prevalent.

The changing political landscape, characterized by the impending midterm elections, has dramatically altered the atmosphere in Congress compared to last year's non-election period. - - ROLL CALL - -The Senate voted 50-48 to adopt a House-approved war powers resolution aimed at halting unauthorized military action against Iran.

This concurrent resolution, led by Rep.

Gregory W.

Meeks, was previously approved by the House by a margin of 215-208.

Although such resolutions do not require presidential approval and are typically seen as nonbinding, this vote represents the first formal Congressional stance on Iran's military engagement, signaling significant bipartisan and bicameral concerns regarding the potential escalation of c