Finance Foggle

  Key Takeaways 🏛️  Bankruptcy court approval : Judge Brian Walsh approved the $305 million sale of 23andMe to nonprofit TTAM Research Institute, founded by Anne Wojcicki, overriding objections from five states . 🧬  Genetic data protection : The deal prevents sensitive DNA data from going to pharmaceutical companies; TTAM pledges to maintain existing privacy policies and enhance safeguards . ⚖️  Legal objections : California AG Rob Bonta contends the sale violates state law requiring explicit consent for genetic data transfers, hinting at potential appeals before July 7 . 🔄  Founder’s return : Wojcicki regains control after resigning during bankruptcy proceedings, positioning TTAM to continue 23andMe’s mission as a nonprofit entity . 🛡️  Customer safeguards : TTAM commits to advance deletion notices, two years of identity theft monitoring, and a Consumer Privacy Advisory Board . The Bankruptcy Court’s Decision Explained A U.S. Bankruptcy Judge, Brian Wa...

  Key Takeaways 💥 Major strategy shift : Apple considers replacing its in-house AI models with  Anthropic’s Claude  or  OpenAI’s ChatGPT  to power Siri—marking a historic reversal in its "build-it-ourselves" philosophy . 🔍 Testing outcomes : Internal evaluations led by  Mike Rockwell  found  Anthropic’s models  most promising for Siri’s needs after outperforming Apple’s tech and rivals in handling queries . 🤝 Negotiation hurdles : Talks with Anthropic stalled over a  multibillion-dollar annual fee  demand, pushing Apple toward  OpenAI  as a backup option . ⚙️ Privacy-first approach : Any third-party model would run on  Apple’s Private Cloud Compute servers  (powered by Apple Silicon) to maintain strict data control . 😕 Talent turbulence : Apple’s AI team faces morale issues and departures (e.g., researcher  Tom Gunter ) amid competition for talent from rivals like  Meta , offering up to  $40M/y...

  Key Takeaways Handwritten demand : Trump publicly shared a Sharpie-scrawled note to Fed Chair Powell demanding drastic rate cuts to ~1%, criticizing him as “too late” . Economic argument : Trump claims high rates cost the U.S. “hundreds of billions” with “no inflation,” while the Fed cites tariff impacts as inflationary risks . Institutional clash : Powell asserts Fed independence, refusing to cut rates amid policy uncertainty, drawing praise from global central bankers . Succession threats : Trump plans to name Powell’s replacement by summer 2025—unusually early—with Treasury’s Scott Bessent a top contender . Legal limits : The Supreme Court recently signaled Trump lacks authority to fire Powell, calling the Fed “uniquely structured” . The Handwritten Note: Trump’s Public Rebuke of Powell On June 30, 2025, President Trump escalated his pressure campaign against Federal Reserve Chair Jerome Powell by sharing a handwritten note on Truth Social. Scrawled in black Sharpie across a c...

  Key Takeaways Walmart opened its first company-owned beef facility in Olathe, Kansas, processing 215,000 pounds daily for 600 Midwest stores, cutting third-party costs by up to 15% . This vertical integration targets soaring beef prices (up 8.6% year-over-year) and tight cattle supplies at 74-year lows . Partnering with rancher-owned  Sustainable Beef LLC  (Walmart holds a minority stake) secures Angus beef supply within a 250-mile radius, boosting traceability . Analysts project 0.5–1% gross margin gains for Walmart’s protein division, but ranchers warn captive supply chains could depress cash market prices for cattle . This facility mirrors Walmart’s broader supply chain strategy, seen in its milk plants and  Plenty  vertical farming investment, aiming to control costs from production to retail . Walmart’s Big Beef Move: Cutting Out Middlemen to Tame Prices So, like, Walmart just opened this massive beef plant in Kansas? Right, Olathe specifically. It’s thei...

  Key Takeaways India’s iPhone manufacturing costs are  ~92% lower  than the U.S. due to labor and incentives . Apple’s partners like  Foxconn  and  Tata  now ship  97% of India-made iPhones  to the U.S., dodging China tariffs . Skilled workforce shortages  and  high costs  make U.S. iPhone production economically unviable . Shifting production to America could  triple iPhone prices  to ~$3,000 . India aims to produce  25–30% of global iPhones  by 2025, backed by  PLI subsidies  . Why India, Not America, Is Making Apple’s U.S.-Bound iPhones President Trump’s demand for U.S.-made iPhones clashes with economic reality. See, assembling an iPhone in India costs just  $30  per device. In California?  $390  . That’s ’cause Indian workers earn  ~$230/month —barely 8% of U.S. wages . So when Trump threatened a  25% tariff  on imported phones, Apple didn’t blink. Instead, ...

  Key Takeaways Exclusive early access : Executive members get weekday/Sunday 9-10 AM and Saturday 9-9:30 AM entry starting June 30 . Extended Saturday hours : All members can shop until 7 PM on Saturdays . New $10 monthly credit : For Executive members on same-day Instacart orders over $150 . Grace period : Gold Star/Business members retain 9 AM access at select locations through August 31 . Employee impact : Staff express concerns about workload and preparation time . Costco’s New Executive Hours Explained Starting Monday, June 30, 2025, Costco rolled out earlier shopping times for Executive members—a perk not seen since 2017. These members now get exclusive access 30–60 minutes before regular hours: 9–10 AM Sunday–Friday, and 9–9:30 AM on Saturdays. After these windows, all members can enter (10 AM weekdays/Sundays; 9:30 AM Saturdays). For warehouses that  already  opened at 9 AM, only Executive members retain that access now. Gold Star and Business members at these lo...

  Key Takeaways Luckin Coffee opened its first two US locations in NYC on June 30, 2025 The Chinese chain operates cashless, mobile-focused stores with prices ~30% below Starbucks Known for viral drinks like fruit-infused coffees and "Refreshers" targeting Gen Z Overcame a 2020 accounting scandal to surpass Starbucks in China with 22,000+ stores Faces saturation challenges in the US coffee market dominated by established chains Luckin Touches Down: NYC Gets China’s Coffee Giant So Luckin Coffee’s finally planting its flag in the US, huh? After totally dominating China’s coffee scene, they’re opening not one but two spots right in New York City. First one’s near NYU in Greenwich Village, perfect for grabbing students between classes. The other’s in NoMad, that busy zone north of Madison Square . They swung open the doors June 30, 2025, which was just yesterday. Pretty bold move, specially picking NYC where coffee shops sprout like weeds. Gotta wonder why they chose these spots...

  Key Takeaways Murkowski’s Amendment  shifts wind/solar tax credit eligibility from operational deadlines to construction start dates, easing project timelines . Senate GOP Bill  accelerates phaseouts for wind/solar credits (2027) but extends nuclear/hydro/geothermal credits to 2036 . New Excise Tax  penalizes post-2027 wind/solar projects using Chinese materials, increasing costs by 10–20% . Industry Backlash : Solar shares fell sharply; critics warn of job losses, higher energy bills, and grid instability . Political Divide : Trump backs strict phaseouts; Murkowski and Tillis dissent, citing regional harm and rushed policy . Lisa Murkowski’s Bid to Soften GOP’s Wind and Solar Tax Credit Cuts Alaska Senator Lisa Murkowski is pushing hard to change part of the Senate Republicans' big tax bill. She wants to help wind and solar projects keep their tax credits longer. Right now, the bill says projects must be up and running by the end of 2027 to get these credits. Murk...