Trump slams the New York Times with $15 billion defamation lawsuit
The Times has dismissed the refiling as meritless intimidation...
Hello Capitalists,
Here is everything you should be following today:
Trump isn’t letting the New York Times off the hook
Trump’s moves on IVF are the foundation for a new baby boom
Regional Banks are getting slammed over irresponsible lending
Oracle signs another AI deal, this time with Meta
National gas price average falls as Oil prices crater
Today’s markets + assets:
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✅ S&P: 6652.44 (⬆️ 0.35%)
✅ NASDAQ: 22628.32 (⬆️ 0.29%)
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🔴 Gold: $4247.1.1 (⬇️ 1.31%)
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🔴 Bitcoin: $106,833 (⬇️ 2.15%)
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Trump refiles his $15 billion dollar lawsuit against the New York Times
President Donald Trump refiled his staggering $15 billion defamation lawsuit Thursday against The New York Times and its reporters in Florida federal court, just weeks after a judge tossed the original as overly verbose, alleging vicious smears on his business empire and TV fame that demand massive reparations.
Original Complaint Dismissed Harshly: Federal Judge Steven Merryday axed Trump’s initial 85-page filing last month for flouting rules on brevity, slamming it as a “tedious” evidence dump laced with superfluous praise for the plaintiff.
Amended Suit Targets Key Figures: The slimmed-down 40-page complaint zeroes in on reporters Susanne Craig, Russ Buettner, and Peter Baker, plus book publisher Penguin Random House.
Core Claims Hit Pulitzer-Winning Probes: The suit blasts 2024 Times articles and the exposé book “Lucky Loser” for fabricating Trump’s “fact-free” rise via tax dodges and “The Apprentice” hype, seeking punitive damages atop the $15B tab.
Media Giant Vows Defiant Stand: The Times has dismissed the refiling as meritless intimidation for “independent reporting,” amid Trump’s barrage of suits against outlets like ABC, CBS, and WSJ over alleged smears and election meddling.
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Trump slashes IVF costs, Baby Boom incoming
President Donald Trump unveiled two initiatives Thursday to dramatically lower in vitro fertilization drug prices and boost employer coverage, fulfilling a campaign vow amid soaring U.S. fertility treatment costs exceeding $20,000 per cycle.
Fertility Drug Prices Slashed: Trump struck a deal with EMD Serono to cut costs on key IVF medications, trading tariff relief for the German firm’s imported pharmaceuticals.
Employer Benefits Guidance Issued: The administration urged insurance companies to add voluntary fertility coverage like dental plans, at fixed low costs, though adoption remains optional.
Affordability Crisis Spotlighted: IVF cycles cost 271% more in U.S. than abroad, with only 25% of large firms covering it, fueling broad public support across parties.
Regional Banks have a brutal day on Wall Street over credit and loan worries
Wall Street’s regional banks plunged Thursday as Zions Bancorporation and Western Alliance Bancorp revealed massive bad loan charges and fraud allegations respectively, sparking fears of a broader crisis in the opaque private credit market amid auto industry bankruptcies.
Zions Faces Heavy Charges: Zions Bancorporation announced sizable write-downs Wednesday evening for loans to multiple borrowers, triggering over 10% midday stock drop on Thursday and amplifying sector-wide jitters.
Western Alliance Uncovers Fraud: Western Alliance accused a borrower of fraud Thursday, leading to a more than 9% share decline and heightening scrutiny on lending oversight in regional institutions.
Jefferies Exposure Deepens Woes: Jefferies shares sank over 7% with $715 million tied to bankrupt First Brands, marking a 23% monthly loss and its worst performance since 2020.
Dimon Warns of Hidden Risks: JPMorgan CEO Jamie Dimon likened emerging loan failures to spotting “one cockroach,” signaling potential excesses in private credit that could threaten broader banking stability.
JPM Analyst’s Echo Their Boss: In a note to clients, reported by CNBC, JPMorgan banking analyst Anthony Elian said: “While we are questioning why all of these credit ‘one offs’ are seemingly occurring in a short period of time, the reality is that even though these exposures may be ‘well-contained’ and have a ‘limited financial impact,’ this is an industry where investors — especially those that are new to this sector — tend to ‘sell first and ask questions later,’ especially when it comes to elevated credit concerns,”
What AI Bubble? Oracle announces a billion dollar mega deal with Meta
In a blockbuster blowout at its Las Vegas AI conference Thursday, Oracle unveiled a $20 billion cloud pact with Meta Platforms to supercharge AI infrastructure, fueling a 5% stock surge and spotlighting the tech titans’ frantic race for computing supremacy amid soaring AI demands.
Deal Value Hits $20 Billion: Oracle’s massive cloud-computing contract with Meta, part of seven deals totaling $65 billion from four clients, excluding prior OpenAI pacts, signal Oracle’s attempt to diversify beyond a single hyperscaler dependencies.
AI Revenue Skyrockets Projected: Core database and AI platform businesses are eyeing $20 billion in fiscal 2030 revenue, leaping from $2.4 billion this year and $3 billion next, driven by easing supply chains in coming years despite concerns.
Stargate Project Accelerates Buildout: Oracle is teaming with OpenAI and SoftBank on U.S.-wide data centers starting in Abilene, Texas, boasting 30-40% margins after infrastructure costs.
Supply Surge Fuels Growth: Executives hail “immense demand” for AI hardware, with improved availability post-2026 enabling rapid contract fulfillment and positioning Oracle to challenge Amazon and Google in the booming cloud arena.
Gas prices tumble nationally and expectations are they will stay there
The national gas price average has tumbled to $3.07 per gallon amid post-summer demand slump, with experts forecasting a sub-$3 plunge nationwide for the first time in years as refineries shift to cheaper winter blends.
National average hits new low: The pricer is down 10 cents from last month and 15 cents from a year ago, reflecting broad declines across more than 40 states per AAA data.
Regional extremes starkly visible: Texas leads the lows at $2.65/gallon, while California’s $4.65 average burdens West Coast drivers amid varying state taxes and supply factors.
Oil barrel plunge accelerates drop: Crude oil prices, dipping below $60 a barrel has helped the trend, with predictions of sustained sub-$3 levels through winter.
Income relief boosts spending power: Forecasts of future prices of gasoline expect it to drive gas expenditure below 2% of disposable income in 2025—the lowest since 2005—through a combination of rising wages and falling fuel costs.
Sure hope Pres. Trump wins his lawsuit against New YouK Times.
He deserves every Penney on behalf of a grateful nation. If the NYT’s wants to practice communism and propaganda then do so in China.