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Don't let them overwhelm you

Economy

U.S. blockade of Iranian ports resumes and strikes hit a fourth night as Trump scraps the 20% cargo fee he announced a day earlier.

Twelve states sue to block the $111 billion Paramount-Warner Bros. Discovery merger the Justice Department approved over its own staff lawyers’ objections.

Bank regulators direct lenders to treat undocumented immigrants as elevated credit risks, telling banks to weigh deportation in loan decisions.

Trump declares the US will run the Strait of Hormuz and charge 20% on cargo, reinstating the blockade as strikes hit Iran a third night.

New York Mayor Mamdani orders businesses to make subscription cancellations as easy as signups, reviving the federal rule courts blocked under Trump.

Trump refuses to sign the decades-biggest housing affordability bill, which becomes law at midnight anyway, protesting the Senate’s failure to pass his voting restrictions.

Gordie Howe Bridge opens July 27 after Canada grants the US toll oversight and profit sharing, five months after Trump demanded half ownership of the span.

USDA slashes its reported beef export sales 90% after publishing record numbers to Chile and Italy it had defended as confirmed a week earlier.

U.S. strikes kill at least 14 in Iran and hit the Bushehr nuclear plant perimeter as Trump claims Tehran “wants to make a deal so badly.”

Rubio notifies Congress the U.S. will lift Syria’s 47-year state sponsor of terrorism designation, clearing Chevron and ConocoPhillips deals already signed.

White House announces and promotes Freedom Fuel stations selling gas around Philadelphia at $3.47 while insisting the unnamed company behind them gets no government money.

John Deere settles the FTC’s right-to-repair suit, agreeing to give farmers and independent shops dealer-level repair access for 10 years.

U.S. hits 90 more Iranian targets in a second night of strikes as Trump threatens to seize Kharg Island and reimpose the naval blockade.

USDA officials pressured Walmart, Kroger, and Albertsons on beef prices days before Trump claimed credit for cuts Walmart had already put on shelves June 29.

FEMA will withhold 20% of states’ antiterrorism grants unless they adopt hand-marked paper ballots, citizenship verification, and manual audits Trump’s executive orders failed to impose.

Trump declares the Iran ceasefire “over” at the NATO summit after U.S. strikes on 80 targets trigger Iranian missile attacks on Bahrain and Kuwait.

Trump claims Walmart cut prices “at my Administration’s request” while the retailer’s own statement announcing the reductions never mentions him or the government.

Nearly 1 million buyers of Trump’s memecoin have lost a combined $3.8 billion while his disclosure shows the coin paid him $636 million in royalties.

The Justice Department tells a federal judge its bribery case against Indian billionaire Gautam Adani was baseless, calling charges he misled U.S. investors a foreign matter.

Belgium’s diamond industry gifts Trump a ring jewelers value at up to $35,000 months after winning removal of U.S. tariffs on its $2 billion in exports.

Iran warns France and Britain against military moves in the Strait of Hormuz after the two allies pledge to help Oman keep shipping safe.

Iowa restores SNAP recipients’ ability to buy soda and candy after a federal court rules the food-restriction waivers violate the federal definition of food.

The Justice Department urges state attorneys general to investigate gas price “gouging” after Trump complains prices are not falling fast enough from war-driven highs.

U.S. adds 57,000 jobs in June, half what economists expected, while April and May payrolls are revised down a combined 74,000.

Trump defends his $1.4 billion in 2025 crypto profits by saying he leaves investing to others and “everybody’s profiting” from rising stocks.

23 words

New York City prepares two Manhattan heliports for electric air taxi service, with first commercial flights under an FAA pilot program expected this year.

The U.S. declines to renew the North American trade deal Trump negotiated in his first term, pushing the agreement into a decade of annual reviews.

California becomes the first state to ban “sell by” food labels, requiring standardized dates aimed at the 6 million tons of unexpired food tossed yearly.

New York City will open a $1,000 college savings account for every public school kindergartner, the largest universal program of its kind in the country.

The Commerce Department lifts export controls on Anthropic’s Fable 5 AI model, restoring public access 18 days after officials pulled the Mythos-class system over a security flaw.

Trump took in nearly $1.2 billion from his crypto ventures last year, a federal ethics filing shows, locking in profits as ordinary investors lost most of what they paid.

Pennsylvania’s House votes 197-5 in rare bipartisan agreement to repeal data center tax breaks for Amazon, Microsoft, and Alphabet, ending a five-year giveaway.

House Speaker Johnson says the bipartisan housing affordability bill becomes law with or without Trump’s signature, after Trump dismissed it as “a yawn.”

Arkansas Governor Sanders moves forward Wednesday with a ban on buying candy and soda with SNAP benefits, days after a federal judge struck down identical restrictions in five states.

Trump says U.S.-Iran talks will resume Tuesday in Qatar at Tehran’s request, a claim Iran denies.

Rep. Ocasio-Cortez calls for breaking up big tech companies as Apple and others raise prices, saying the firms want to act like governments.

Iran attacks U.S. allies Bahrain and Kuwait, then threatens to halt talks, even as a U.S. official says both sides will stand down.

Five million people have dropped ACA coverage for 2026 after Trump and Republicans let enhanced subsidies expire, roughly doubling premiums, new federal data shows.

The Trump administration lets Anthropic release its most powerful AI model to roughly 100 approved companies and agencies, claiming new authority to decide who gets frontier AI.

Trump threatens immediate 100% tariffs on any country that taxes U.S. tech giants, four months after the Supreme Court struck down his global tariffs as illegal.

New York City’s Rent Guidelines Board freezes rents on roughly one million stabilized apartments, the first freeze since 2020 and delivering on a central Mamdani campaign promise.

North Carolina’s attorney general reaches a $7 million settlement barring a major landlord from algorithmic rent-setting, the third such deal in a case prosecutors say inflated rents statewide.

Michigan erases more than $74 million in medical debt for nearly 72,000 residents through a state partnership with the nonprofit Undue Medical Debt.

The House passes the bipartisan 21st Century ROAD to Housing Act 358-32, sending it to Trump’s desk after the Senate’s 85-5 vote.

Iran vows permanent control of the Strait of Hormuz and the right to charge passage fees, rejecting U.S. demands as the ceasefire strains.

The Senate passes a bipartisan housing affordability bill 85 to 5, restricting large companies from buying single-family homes and waiving some environmental reviews for new construction.

Federal judge strikes down Agriculture Department waivers that let 22 states bar SNAP recipients from buying soda and candy, finding the agency rewrote the legal definition of food.

Vance says Iran will let U.N. nuclear inspectors back in, but Tehran says nuclear negotiations have not begun.

Trump threatens to hit Iran “very hard again” and seize the Strait of Hormuz as Vance opens the highest-level direct U.S.-Iran talks in Switzerland.

Seattle commits $8 million to keep about 1,000 households a year in their homes, funding rental aid and eviction defense before residents fall into homelessness.

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