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Editor's Pick

Want better returns? Forget risk. Focus on fear - The Economist (No
paywall)
[[link removed]}&lead=419599&emailid=219742&nl=daily common
explanation for effervescent markets is that investors have become
reckless or outright irrational. Or perhaps the relationship between
risk and return simply is not there, posits a working paper by Rob
Arnott of Research Affiliates, an investment firm, and Edward
McQuarrie of Santa Clara University. They argue that over the past
two-and-a-bit centuries, risk (as conventionally defined) has done a
lousy job of explaining the relative returns of stocks and bonds. In
its place, they propose fear - a more complex thing - as the real
driving force of markets.

Continued here [[link removed]}&lead=419599&emailid=219742&nl=daily]

One coffee = one month of TradeBriefs. Help us keep going.
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Work

Trump Meets With Nvidias Huang as Semiconductor Tariffs Near -
Bloomberg (No paywall) [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
US President Donald Trump met Wednesday with Nvidia Corp. Chief
Executive Officer Jensen Huang at the White House, as he readies
sweeping new tariffs on semiconductor imports.

Work

Trump Spoke to Cuomo About Running for Mayor - Intelligencer (No
paywall) [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Find this story in your accounts Saved for Later section.

Work

Trump says Hassett and Warsh are leading contenders for top Fed job -
FT (No paywall) [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Donald Trump has said Kevin Hassett and Kevin Warsh are now the
front-runners in the race to succeed Federal Reserve chair Jay Powell
when his term leading the world's most powerful central bank ends next
May.

Work

Goldman Sachs Says US Yield-Curve Shape Looks Like Zero-Rate Era -
Bloomberg (No paywall) [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
US Treasury debt maturing in five years has rarely been this expensive
relative to other maturities except when the Federal Reserve has
dropped interest rates to zero, according to interest-rate strategists
at Goldman Sachs.

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Work

As Trump cracks down on student visas, other countries see opportunity
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
As part of its crackdown on immigration, President Donald Trump's
administration is pressuring U.S. colleges to reduce their dependence
on international enrollment while adding new layers of scrutiny for
foreign students. So while the U.S. remains the first choice for many
international students, institutions in other countries are
recognizing opportunity in the upheaval and applicants are considering
destinations they might have otherwise overlooked. They include
Britain, a rival education hub, and Dubai, which hosts dozens of
international universities satellite campuses. The impact on U.S.
universities - and the nation's economy - may be significant.

Work

Micro-CPV Solar Panels Boost Efficiency and Cut Costs
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Fraunhofer ISE's micro-CPV solar panels achieve 36% efficiency. Find
out how this design could make solar power more attractive and
affordable.

Work

Trump doesn't oppose Netanyahu plan for full Gaza occupation: U.S.
officials
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
The Israeli Security Cabinet is expected to approve a highly
controversial plan to expand the war.

Work

United Airlines 'Technology Issue' Resolved, But Some Flights Still
Face Delays - Forbes (No paywall) [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
United Airlines on Wednesday night announced it had resolved a
technology issue that had triggered a ground stop for the carriers
flights at major U.S. airports earlier in the evening and triggered
hundreds of delays and several dozen cancelations, although the
airline was still tackling residual delays triggered by the outage.

[[link removed]}&lead=419599&emailid=219742&nl=daily]

Work

The Latest Phase in Trumps War on Data - The New Yorker (No paywall)
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Donald Trump had many priorities upon returning to the Presidency, and
one of the most pressing was to get Winston Churchill back into the
Oval Office. A bust of Britains wartime Prime Minister, of whom Trump
is a big fan, had kept him company throughout his first term, and for
the past six months it has sat next to the offices gilded fireplace,
lurking in the background of Trumps meetings with other world leaders.
Trump admires Churchills glower, which he channelled for both his
mugshot and his official Inauguration portrait, and he sees himself,
much like Churchill, as the singular savior of a beleaguered nation.
Perhaps it was a Churchill quotationan apocryphal one, as it
happensthat Trump had in mind last week when he fired Erika
McEntarfer, the commissioner of the Bureau of Labor Statistics: I only
believe in statistics that I have doctored myself.

Work

RFK Jr. defunds a medical miracle
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Welcome to The Logoff: In a blow to US pandemic preparedness, Health
Secretary Robert F. Kennedy Jr. announced on Tuesday evening that he
was slashing $500 million in federal mRNA vaccine contracts.

Work

The Race to Upcycle Africa's Fast Fashion Dumping Ground
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Weve all done it: dropped a bag of torn tees and threadbare shorts in
the neighborhood recycling binor left it beside, as the container is
typically overflowingand walked away with a quiet satisfaction. Maybe
even hit the shops afterward to restock your now depleted wardrobe.

Work

How a Mafia crackdown drives economic growth - FT (No paywall)
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
When the state breaks rackets, it creates space for honest enterprises
to flourish

[[link removed]}&lead=419599&emailid=219742&nl=daily]

Work

U.S. Sanctions on Russia Still Loom After Putin-Witkoff Meeting -
Foreign Policy (No paywall) [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Yet experts suggest that Moscow won't bow to the White House's
threats.

Work

How Steve Smith was rebuilt with a New York state of mind
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Exclusive: Australia's talisman sought sanctuary in the U.S. to escape
the scandal that threatened his career

Work

3 myths about metabolism could be holding you back | CNN
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Metabolism and weight are inextricably linked. Given US diet culture,
people should understand metabolism better than they do. An expert
busts three common myths.

Work

Ex-Google exec: The idea that AI will create new jobs is '100% crap' -
even CEOs are at risk of displacement
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Ex-Google exec and AI expert Mo Gawdat says no job is safe from the AI
revolution, including CEOs and others in the C-Suite.

[[link removed]}&lead=419599&emailid=219742&nl=daily]

Work

FACT FOCUS: RFK Jr.'s reasons for cutting vaccine unsupported by
evidence
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
U.S. Health Secretary Robert F. Kennedy Jr. has incorrectly claimed
that mRNA vaccines are ineffective against upper respiratory
infections like COVID-19 and the flu. He used this argument to justify
the Department of Health and Human Services' decision to cancel $500
million in research for new mRNA vaccines. But Kennedy's claim ignores
how such inoculations work, according to experts. They prevent against
severe infection and death, but cannot completely prevent an infection
from occurring in the first place. Plus, years of research supports
the effectiveness of COVID-19 vaccines that use mRNA technology.

Work

How to Get Your First 1000 SaaS Users Without Spending on Ads (2025
Guide)
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Learn how to get your first 1000 SaaS users organically without paid
ads. Complete guide with Reddit strategies, SEO, GEO optimization, and
AI agents.

Work

Key genetic differences found in people with chronic fatigue syndrome
- New Scientist (No paywall) [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Genetic factors that could contribute to peoples risk of developing
chronic fatigue syndrome (CFS), also known as myalgic
encephalomyelitis (ME), have been identified in a large study.
Scientists have linked eight regions of the human genome to the
condition, based on DNA samples from more than 15,000 people who have
it.

Work

For Gaza's residents, daily life a Sisyphean struggle for simplest
necessities | The Times of Israel
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Even those with a home and money in the bank say they are barely able
to get through each day, paying for what they can in an unending
battle against hunger and other woes

[[link removed]}&lead=419599&emailid=219742&nl=daily]

Work

OpenAI's new model can't believe that Trump is back in office
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
gpt-oss-20b can't seem to decide who won the election, but tried to
convince us that it was Biden

Work

How DeepSeek and Open-Source Models Are Shaking Up AI - Bloomberg (No
paywall) [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Tech companies and academics have long wrestled with the risks and
rewards of building open-source software. But the frenzy around
generative artificial intelligence has lent new significance to the
debate.

Work

How an insecticide has come back to bug Emmanuel Macron
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
More than 2 million French people have signed a petition to repeal
legislation allowing farmers to spray crops with a chemical called
acetamiprid.

Work

Mark Sewards becomes first MP to create himself as an AI bot
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Mark Sewards MP says the chatbot version of himself will allow people
to ask for help with local issues.

[[link removed]}&lead=419599&emailid=219742&nl=daily]

Work

Fear of super intelligent AI is driving Harvard and MIT students to
drop out
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
AGI - a theoretical AI that can do many of the same tasks as humans
can - could come within a decade. College students, including from
elite universities, are abandoning school now to work full-time on
preventing it from turning on humanity.

Work

This SpaceX Rival Is About to IPO at a Valuation Over $5 Billion - Inc
(No paywall) [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
A SpaceX competitor is set to IPO later this week. Firefly Aerospace
is raising $726,570,000 through a public offering,according to Nasdaqs
IPO calendar. The public offering will consist of 16,200,000 shares
sold at $35.00 to $39.00.The IPO will value the company at $5.2
billion.

Work

Ion Iliescu, Who Steered Romania After Revolution, Dies at 95
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
As a three-term as president, he guided the country toward democracy,
but he was called an authoritarian at heart and accused of brutality
during the revolt that put him in power.

Work

Sudan accuses UAE of funding Colombian mercenaries to fight alongside
RSF in civil war
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Sudan has accused the United Arab Emirates of sending Colombian
mercenaries to fight alongside the paramilitary Rapid Support Forces
against the military in the country's civil war. The foreign ministry
said the Sudanese government has "irrefutable evidence" that
mercenaries from Colombia and some neighboring countries were
sponsored and financed by Emirati authorities. The UAE's foreign
affairs ministry says the government "categorically rejects" the
allegations and denies involvement in the war by backing armed groups.
There is no immediate response from Colombia.

[[link removed]}&lead=419599&emailid=219742&nl=daily]

Work

How Not To Pick Friends In Prison
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
When I was first came down, I flailed around and stuck out. I was
white, thin, and ink free. I wanted to belong so I didn't exercise too
much judgment in whom I hung around.

Work

Scientific innovation is driving hope for progress in women's health,
but experts warn of headwinds - STAT (No paywall)
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Scientific breakthroughs from next-generation vaccines to long-acting
medications to prevent HIV are fueling new hope in womens health. But
experts warn that persistent gaps in funding and access could stall
that progress.

Work

France's largest wildfire this year leaves one dead and many injured
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Blaze burns through 13,000 hectares close to Spanish border,
destroying homes and forcing residents to flee

Work

TSMC 'spending US$300bn' in Arizona: Trump - Taipei Times
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
"We have the biggest [chipmaker] in the world [TSMC] from Taiwan is
coming over and spending 300 billion dollars in Arizona building the
biggest plant in the world for chips and semiconductors," Trump said
in an interview on CNBC's financial talk show Squawk Box.

[[link removed]}&lead=419599&emailid=219742&nl=daily]

Work

Low dose of lithium reverses Alzheimer's symptoms in mice - New
Scientist (No paywall) [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
People with Alzheimers disease have lower levels of lithium in their
brains than those without cognitive impairment, and a deficiency of
the metal appears to accelerate the accumulation of amyloid plaques
and memory loss but it could possibly be reversed with a small dose of
lithium

Work

Ukraine war: Twisted wreckage shows sanctions haven't yet stopped
Russia [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
In Kharkiv, investigators gather evidence of Russian attacks - and how
it has dodged sanctions.

Work

Milorad Dodik, Bosnian Serb separatist leader, removed from office
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Bosnia's electoral authorities have removed separatist Bosnian Serb
leader Milorad Dodik from his position as president of the Serb entity
in Bosnia, following an appeals court verdict sentencing him to one
year in jail and a six-year ban on all political activities. The
Central Electoral Commission said Wednesday that Dodik has the right
to appeal the decision after which an early presidential elections
must be held within 90 days. The last Bosnian Serb presidential vote
was held in 2022.

Work

Pushed to the sidelines: How Egypt lost it's heavyweight standing in
the Arab world [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Analysis: As Cairo's regional influence wanes amid economic strain,
foreign disinvestment and US indifference, President Abdel Fattah
el-Sisi struggles to maintain relevance in Gaza ceasefire negotiations

[[link removed]}&lead=419599&emailid=219742&nl=daily]

Work

Will Future Civilizations Bother to Excavate Our Remains?
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]

Work

Trump administration sanctions popular hip hop artist "El Makabelico"
over alleged ties to Mexican drug cartel
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
The administration alleges that 50% of the musician's royalties on
streaming platforms go directly to the Cartel del Noreste.

Work

Stanford lays off hundreds, citing federal cuts under Trump
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Stanford will permanently lay off hundreds of employees this fall as
part of sweeping budget reductions driven by federal policy changes,
rising operational costs and shifting funding sources.

Work

AI is helping historians with their Latin - WSJ (No paywall)
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Its like trying to solve a gigantic jigsaw puzzle, only there is tens
of thousands more pieces to that puzzle, and about 90% of them are
missing," said Thea Sommerschield, a historian at the University of
Nottingham.

[[link removed]}&lead=419599&emailid=219742&nl=daily]

Work

Microsoft raids Google's DeepMind AI unit with promise of less
bureaucracy - WSJ (No paywall) [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Mirroring a tactic from Meta Platforms Chief Executive Mark
Zuckerberg, Suleyman has been personally calling recruits, pitching
them on the idea that the fledgling AI division Microsoft created last
year is a nimbler, more startup-like workplace than DeepMind has
become under Googles ownership, according to people familiar with the
matter.

Work

America's protein obsession, from Starbucks to Doritos and beyond
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Protein is saturating diets and American life, becoming at once a
marketing pitch, a moral good, and a multibillion-dollar industry

Work

Trump's broad tariffs go into effect, just as economic pain is
surfacing
[[link removed]}&lead=419599&emailid=219742&nl=daily]
The White House said that starting just after midnight that goods from
more than 60 countries and the European Union would face tariff rates
of 10% or higher.

Work

AI wearables are quietly listening to everyone in Silicon Valley
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Discreet devices and software are recording everything. Is it legal?
And do you consent?

[[link removed]}&lead=419599&emailid=219742&nl=daily]

Work

The Worst Things to Say to Someone With Anxiety-And What to Say
Instead [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
We asked experts to share the worst things you can say to someone with
anxiety-plus what actually helps them.

Work

Why is Gov. Gavin Newsom blocking rooftop solar in California?
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Follow the money.

Work

China's AI drug discovery companies land huge deals with Big Pharma
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
Deals with Pfizer, Sanofi, and AstraZeneca are turning Chinese AI drug
discovery startups XtalPi, CSPC, and Helixon into global biotech
powerhouses.

Work

NASA's Science Budget Is on the Chopping Block-And Past NASA Leaders
Are Deeply Concerned - Scientific American (No paywall)
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
The White House recently proposed slashing NASAs science budget nearly
in half and reducing the space agencys overall funding to just three
quarters of what it received last year. When adjusted for inflation
the proposed fiscal year 2026 budget would be NASAs lowest since the
beginnings of the Apollo program. But these days NASA is responsible
for much more than keeping up with the space race. NASAs work touches
our daily lives in ways most people never realize, from the weather
forecasts that help you decide what to wear to the climate data that
helps farmers know when to plant their crops.

Work

The baggage policies for all the major airlines
[[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
This clear, traveler-friendly guide will help you pack smarter and
avoid extra baggage fees

Work

US trading partners race to secure exemptions from Trump's tariffs -
WSJ (No paywall) [[link removed]}&lead=419599&emailid=219742&nl=daily]
[[link removed]}&lead=419599&emailid=219742&nl=daily]
U.S. trading partners are lobbying the White House for exemptions to
sweeping new tariffs due to come into force on Thursday, as countries
seek ways to muffle the impact on their economies of President Trumps
push to reorder global trade.

TradeBriefs Publications are read by over 100,000 Industry Executives
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