Primoris Services Crashes Again As Guidance Cut And Mgmt Missteps Spook Wall Street Shares of Primoris Services crashed in premarket trading after the infrastructure contractor slashed its full-year earnings outlook (again) and announced the departure of its chief operating officer. The specialty construction and infrastructure contractor, which builds, maintains, and engineers critical infrastructure for utilities, energy, […]

Oracle Cuts 21,000 Jobs As AI Adoption Deepens And Credit Risk Flashes GFC-Era Highs Oracle disclosed in a Form 10-K filing that it reduced its workforce by 21,000 employees over the past year as it automates white-collar jobs and frees up cash to splurge on AI infrastructure buildouts. “Our periodic workforce restructurings and reorganizations can be disruptive,”  Oracle said in the annual financial regulatory publsihed on […]

Israel Sets 3 Key ‘Conditions’ For Ending Occupation Of South Lebanon Via The Cradle Israel has set several “conditions” for the withdrawal of its occupation forces from Lebanon, Hebrew newspaper Israel Hayom reported this week – after Tel Aviv was forced to stop bombing the country due to the US–Iran agreement.  “Israel has three minimum conditions for withdrawing its forces from southern Lebanon: the withdrawal of all […]

Futures Slide As Tech Tumbles, Korea Crashes US equity futures are sharply lower as a Semis/South Korea-induced selloff has spread globally slamming tech stocks and pushing SpaceX 3% lower and below its first day of trading price of $150. Nasdaq stocks lead sentiment and early trading lower with AI cost concerns back in focus, as Bloomberg notes that traders are pointing to a South Korean media report we first highlighted at 8pm […]

Sheer Madness: UK Tests Long-Range Missile For Ukraine To Bomb Moscow Ukraine is making it clear they are seeking to “bring the war to Russia” – and this is what’s behind the recent series of massive Ukrainian drone strikes on Moscow, which has wreaked havoc particularly on energy refineries, and air travel for the region. That Ukraine desperately wants to gain back what leverage they are able to is fully understandable, however, […]

Trump Insists Iran Caved On Nuclear Inspections, As Tehran Touts US To Unfreeze $12BN Summary Conflicting Claims Remain: Washington and Tehran continue to dispute whether Iran agreed to extensive IAEA nuclear inspections and the terms of sanctions relief. $12 Billion Asset Release: Iran says $12 billion in frozen assets will be released initially, with total relief potentially reaching $50 billion if a final deal is reached. […]

“But A Whimper”: Retail Euphoria In SpaceX Fizzles After Stock Loses $600 Billion In One Day It started off with a bang: SpaceX IPOed on June 12 with an opening price of $150 on their first day of trade, well above the offering price of $135, and within two days, enterprising traders were ravenously bidding up 380 calls (expiring in just days) in hopes of sending the stock soaring in hopes of orchestrating a gamma squeeze.  They […]

Half Of Crimea Goes Dark After Ukrainian Strike Hits Thermal Power Plant Yet more drone attacks sent by Ukraine’s military has crippled much of the infrastructure of the Crimean peninsula. Reuters is confirming significant power outages, while some regional reports say as much as half of all Crimea is without power Tuesday. One of the regional publications specified that “Yevpatoria, Saki, Krasnoperekopsk, Dzhankoy, and […]

Worst Ad Campaign Ever… Authored by Steve Watson via Modernity News, There’s having no discernment, and then there’s this… A three-year-old boy remains in critical but stable condition at Addenbrooke’s Hospital after being thrown into a crocodile enclosure at a Cambridgeshire zoo. His alleged attacker, a 30-year-old man from Norfolk with reported learning difficulties, was quickly released on bail with his identity withheld […]

Piper Sandler’s Top Economist Sees “Big Bounce” In Consumer Sentiment As Gas Prices Tumble Building on last week’s theme of “early signs of a turn in U.S. consumer discretionary,” Piper Sandler analysts note that the sharp decline in gasoline prices at the pump is beginning to lift consumer sentiment, particularly among lower-income households. Their proprietary daily confidence data suggest the rebound is still in the early […]

These Are The Countries Where $1,000 Takes The Longest To Earn How long would you need to work to earn $1,000? In Colombia, the answer is roughly 86 hours. In Luxembourg and Iceland, it’s just 16. Using data from the OECD on average annual wages and Our World in Data’s figures for annual working hours, Visual Capitalist’s Srijaa Chatterjee created this visualization ranking countries by how long it takes the average worker […]

AfD Co-Leader Demands Ukraine Pay Reparations To Germany Authored by Andrew Korybko, Europeans and especially Germans have borne enormous costs to perpetuate the Ukrainian Conflict while receiving absolutely nothing of tangible benefit in return. AfD co-leader Alice Weidel responded to Chancellor Friedrich Merz’s proposal to grant Ukraine associate membership in the EU, which was analyzed here and here, by declaring that […]

Rubio Heads To Gulf Capitals As Washington Races To Lock In Iran Deal US Secretary of State Marco Rubio is scheduled to visit Bahrain, Kuwait, and the United Arab Emirates this week, set for June 23–25, following the weekend breakthrough Switzerland-based negotiations with Iran, Department of State Spokesperson Tommy Pigott announced Monday. The announcement comes on the heels of indirect talks between Iranian and American […]

Starmer’s Gone, But UK’s Right May Have Little To Cheer About Authored by Remix News via Modernity News, The deeply unpopular British Prime Minister, Keir Starmer, announced his resignation on Monday morning, but despite his upcoming departure, the right may have little to cheer about. During a speech outside Downing Street, Starmer announced he was stepping down after holding office since July 7, 2024. In that election, his […]

Israeli Troops Deployed To Somaliland In Covert Mission Via The Cradle Israel secretly deployed a small contingent of forces to Somaliland earlier this year following its recognition of the breakaway territory, a senior Somali government official revealed to Middle East Eye (MEE) on Monday. “According to our intelligence reports, the Israeli military selected Israeli soldiers of African heritage, especially Ethiopians, so as not […]

Apollo Gates Private Credit Investors For 2nd Quarter As 17% Rush To The Exits It would appear that the private credit crisis has not, in fact, been contained. With the software bounce now dead and buried… Software bounce is over pic.twitter.com/wcKtRt3NaR — zerohedge (@zerohedge) June 22, 2026 … amid growing fears that the next round of the SAASpocalypse will be far worse (just look at the spectacular implosion in […]

Super El Nino: Famine Follows War? Rory Green, TS Lombard’s chief China economist, is the latest Wall Street strategist to warn of the mounting macro and food inflation risks that a super El Niño could release on certain regions of the world. In a note titled “Super El Niño: Famine Follows War?” Green warns that war-related disruptions to energy and fertilizer markets, compounded by adverse weather conditions, could create a […]

Zero Sum: Cities Have Little To Show For Big Spending Authored by Jeremy Portnoy via RealClearInvestigations, America’s largest cities are increasing their spending at almost unprecedented rates. A RealClearInvestigations (RCI) analysis of cities with at least 500,000 residents found they cumulatively raised their per-person spending by 18 percent over the last 10 budget cycles, accounting for inflation. The only equivalents […]

Flesh-Eating Screwworm Cases Rise To 15 After New Detections In Texas: USDA Authored by Aldgra Fredly via The Epoch Times, The U.S. Department of Agriculture (USDA) said on June 21 that three more cases of the flesh-eating New World screwworm have been detected in Texas, bringing the total in the United States to 15. The latest cases involved a lamb in Crockett County and two calves in Edwards County, Texas. The USDA said in a […]

Iran Oil Exports Through Hormuz Hit Wartime High While other countries line up on either side of Hormuz, hoping for clarity whether they actually can cross this time, Iran isn’t wasting any time moving its oil out of the Gulf via the Strait of Hormuz after the US lifted the naval blockade outside the chokepoint and the U.S. and Iran discuss a framework on a lasting peace deal. Even as Western shippers and insurers remain wary of […]

Chinese Grid Operators Resist Plans To Boost Renewables To Power AI Authored by Charles Kennedy via OilPrice.com, Grid operators are concerned that the Chinese drive to hike the share of renewable electricity powering AI would raise the risks for power firms as peak demand at data centers is difficult to forecast. Industry analysts and officials have told Reuters that the Chinese strategic priority of having renewables power […]

“Optimism Has Picked Up”: Retail Operators See Consumer Relief After Gas Prices Tumble As soon as the national average for 87-octane gasoline at the pump dipped below the politically sensitive $4-a-gallon level early last week, we observed multiple institutional desks begin to forecast that the light at the end of the tunnel was beginning to materialize for consumers, especially working-class households that have been financially […]

No New Laws Required… Private Biometrics Are Building The Digital ID Prison Authored by Patti Johnson via The Burning Platform blog, That “black pill moment” is arriving faster than many realize. Not primarily through sweeping new government mandates, but through private companies quietly normalizing biometric data collection under the banners of “security,” “fraud prevention,” and “child protection.” They are […]

Biden Judge Sparkle Sooknanan Blocks Trump Admin SAVE Act Database A Biden-appointed federal judge – who quit her previous job as partner at the Jones Day law firm because they did work for the 1st Trump administration – just ruled against the administration’s plan to create a database to verify citizenship to be able to vote in US elections.  Judge Sparkle Sooknanan ruled on Monday that officials across several government […]

Waymo Recalls Robotaxis After Cars Drive Into Construction Zones Authored by Jill McLaughlin via The Epoch Times, Waymo has recalled its entire fleet of vehicles after some of its driverless cars were caught speeding into freeway construction zones. The voluntary recall on June 13 of the California-based tech company’s 3,871 vehicles is to fix its 5th-generation Automated Driving System (ADS) software so that it will recognize […]