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Social Security Trust Fund Depletes in 2032, Triggering 22% Benefit Cut
Social Security’s Old-Age trust fund depletes in late 2032, triggering a 22% automatic benefit cut. Newly retired couples face $16,900 annual losses. Congress has narrowing window to act.
U.S. Strikes Iran for 7th Night as Bridges Fall, Oil Hits $86
U.S. Central Command launched its seventh straight night of strikes on Iran, hitting bridges and port infrastructure. Iran retaliated against Gulf allies. Oil rose above $86 a barrel as Strait of Hormuz shipping hit a three-week low.
Swatch Moonswatch Gold Edition Launches July 16: CHF 500 for 1,969 Pieces
Swatch launches Mission to the Moon 1969 MoonSwatch with 11 grams of 18K gold from Apollo era parts. Limited to 1,969 pieces at CHF 500. Requires application approval.
General Dynamics Wins $2B Canadian Armoured Vehicle Deal on July 16
Canada commits $2 billion to buy 190 armoured vehicles from General Dynamics Land Systems-Canada over four years, expanding the military fleet to 550 units and creating 6,000 jobs annually.
SpaceX Stock Crashes Below IPO Price as Rinehart’s A$700m Gain Evaporates
SpaceX shares dropped below their US$135 IPO price, erasing US$903 billion in value. Australian billionaire Gina Rinehart’s estimated A$700m profit from the June listing has been wiped out.
Social Security Faces 22% Automatic Cut in 2033 Without Congressional Action
Social Security’s retirement trust fund runs dry in late 2032, forcing automatic 22% benefit cuts affecting 70 million Americans. A new bipartisan bill seeks to prevent the cuts.
Trump Administration Weighs $100,000 Bond for Green Card Applicants
Trump administration considers requiring green card applicants to post $100,000 refundable bond. Proposal targets those deemed at risk of becoming public charges. Details remain unresolved.
Australia’s Daily Smoking Rate Falls to 5.6% as Illicit Tobacco Surges
Australia’s daily smoking rate fell to 5.6% in 2025, beating the 10% target, but 34% of smokers now buy illicit tobacco. The government bans nicotine pouches from July 24.
Trump’s New Global Tariffs Loom as $71B Refund Wave Hits Companies
Companies have received $71 billion in tariff refunds after the Supreme Court ruled Trump’s tariffs illegal. Now Trump plans new global tariffs of 10-12.5% starting July 24, affecting UK, Japan, India, Taiwan, and China.