Federal grand jury will probe Trump’s “Russia hoax” allegationsAttorney General Pam Bondi
has directed a U.S. attorney to empanel a grand jury to investigate the intelligence community’s handling of allegations that Moscow had influence over President Trump’s 2016 election campaign. No targets were named, but the investigation
will likely look at Obama-era cabinet members such as former Director of National Intelligence James Clapper, former CIA Director John Brennan and former FBI Director James Comey.
Trump threatens yet more tariffs on India over Russian oil purchasesIndia got a 25% tariff rate in the last round, but
the president is angry that India continues to buy Russian oil. “India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don’t care how many people in Ukraine are being killed by the Russian War Machine,”
he said on Trump Social. India said
this was hypocrisy because the EU continues to trade with Russia and faces no similar sanctions.
Palantir delivers blowout quarterSales were up almost 50% to nearly $1 billion, beating expectations. Net income was $327 million, up 144%. CEO Alex Karp lifted guidance for Q3. The stock closed up 4% yesterday and rose another 5% in overnight trading. “We’re planning to grow our revenue … while decreasing our number of people,”
CEO Alex Karp told CNBC. “This is a crazy, efficient revolution. The goal is to get 10x revenue and have 3,600 people. We have now 4,100.”
Deutsche Bank CEO approved trades that were later investigatedChristian Sewing approved a €1.5 billion deal that was later investigated by Italian authorities, resulting in six of his former colleagues being sentenced to prison on false accounting charges. The convictions were later overturned on appeal. Deutsche Bank denied there was any wrongdoing on Sewing’s part: “Any allegation of a conflict of interest involving Christian Sewing is completely unfounded,”
it told the FT.
Trump wants to ban “debanking”The president
is planning to issue an executive order directing bank regulators to investigate whether banks deny accounts to people with right-wing opinions or those involved in crypto, to see whether such bans might violate credit, consumer, or antitrust laws.
JPMorgan strategist sounds alarm on labor demographic issuesDavid Kelly, JPMorgan Asset Management’s Chief Global Strategist,
warned on Monday that immigration restrictions and a growing elderly population could mean “no growth in workers at all” in the next 5 years. Kelly warned that cutting rates could lead to wage and price inflation instead of propelling economic growth.
Anthropic CEO on Meta’s poachingAnthropic CEO Dario Amodei says the company’s employees have been less eager to accept poaching offers from Meta and the company
won’t make competing offers because that would jeopardize company culture. “We are not willing to compromise our compensation principles, our principles of fairness, to respond individually to these offers,” Amodei recently said on the
Big Technology Podcast.
