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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.
Trump Halts Offshore Wind Projects on National Security Claims; States Sue Back
Trump administration halts offshore wind projects citing national security risks, spending $2.7 billion on lease buyouts. California and other states threaten lawsuits over the decision.
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’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.
Canadian Wildfire Smoke Blankets US Through Saturday; Air Quality Hazardous
Canadian wildfire smoke creates hazardous air quality across 20+ US states. Chicago, Detroit, and Pittsburgh hit worst levels. Smoke clears Saturday as storms push pollution out.
Moonshot’s Kimi K3 Narrows AI Gap; Chinese Model Rivals US Frontier Systems
Moonshot AI’s Kimi K3 model with 2.8 trillion parameters rivals Anthropic’s Fable 5 and OpenAI’s GPT 5.5, marking a major shift in the US-China AI race and triggering sharp selloffs in tech stocks.
Petition Seeks to Remove Prince Harry From Invictus Games Leadership
Petition circulates to remove Prince Harry from Invictus Games leadership over security threats, failed fundraising for 2027 Birmingham event, and concerns about media distraction from veterans.
CEAT (NSE: CEATLTD) Shares Sink 9% as Q1 FY27 Profit Crashes 96% Amid West Asia Crisis
CEAT shares sank as much as 9.3% Friday after a dismal Q1 FY27 profit report. The tyre maker’s net profit crashed 96% to just ₹4 crore. That compares with ₹112 crore reported in the same quarter last year. Revenue still grew 22.36% year-on-year to ₹4,318 crore during the quarter. CEAT shares touched an intraday low…