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Trump prioritizes ‘Save America Act’, bipartisan housing bill not yet signed

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Trump prioritizes 'Save America Act', bipartisan housing bill not yet signed
Donald Trump says he won’t take action until Congress passes ‘Save America Act’

President Donald Trump on Wednesday canceled the signing of a bipartisan housing bill aimed at accelerating the construction of affordable housing, saying he would not proceed with signing the bill until Congress passes the Save America Act, which he has called a national emergency. The decision brought an abrupt end to a rare legislative victory that had been supported by both Republicans and Democrats, even though the bill had overwhelmingly passed both chambers of Congress.“Today’s housing press conference and signings are canceled until we pass the desperately needed Save America Act, which I consider a national emergency,” Trump said in an article published on Truth Social.

Trump truth social posts

Supporters believe the measures could help alleviate a nationwide shortage of affordable housing that industry groups estimate millions of households face.

The bill was scheduled to be signed after receiving broad bipartisan support in Washington. The bill passed the Senate 85-5 on Monday and the House passed it 358-32 on Tuesday. That level of bipartisan support is becoming increasingly rare in a deeply polarized Congress.The bill seeks to address America’s housing affordability crisis by removing some regulatory barriers to residential development. Its key provisions include waiving or expediting environmental reviews for housing projects and limiting the number of existing single-family homes that large Wall Street investors can own.Supporters believe the measures could help alleviate a nationwide shortage of affordable housing that industry groups estimate millions of households face.The debate comes at a time when housing costs remain a major concern for American voters. Rising prices, rising mortgage rates and ongoing supply chain disruptions are making homeownership increasingly difficult for many families. Inflation rose sharply during Trump’s second term and continues to be one of the public’s biggest economic concerns.There are also signs of renewed interest in home ownership. A survey released Tuesday found that for the first time since 2023, more Americans said they would prefer to buy a home rather than rent or live with family.Trump’s decision leaves the future of housing legislation uncertain, despite strong bipartisan support and growing pressure to address affordability challenges across the country.

Social Security Alert: Paper checks are about to disappear, here’s what retirees and families must prepare for

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Over the years, retirees have received social Security Pay by mailing a paper check. In 2025, the Social Security Administration (SSA) was directed to transition beneficiaries to electronic payments. SSA plans to complete the transition for all beneficiaries this year. The goal is to make payments faster, safer and more reliable.

Paper Social Security checks are going away. (Photo by Jim Watson/AFP) (AFP)
Paper Social Security checks are going away. (Photo by Jim Watson/AFP) (AFP)

How to send Social Security payments now

Most beneficiaries will receive their payments via direct deposit into a bank or credit union account. Another option is Ministry of Finance– Approved prepaid debit card. Paper checks are only available in rare circumstances. Anyone who wants to continue receiving checks by mail will need to obtain a government-approved exemption.

For many older Americans, Social Security is their primary or only source of income. The money is typically used to pay rent, mortgage bills, groceries, utilities and medicine. Even brief payment delays can cause financial problems for retirees. Experts say this is not just a technological change, but also a consumer protection issue, as the Kiplinger report points out.

Social Security Alert: Who may face the biggest challenges

Elderly beneficiaries who do not use computers or online accounts. People living in rural areas have limited access to banking services. Individuals without bank accounts. Older adults with memory problems or cognitive decline. Widows and widowers who previously relied on their spouses to handle their finances. Beneficiaries who are concerned about fraud or sharing banking information.

Also read: Work after retirement? A major Social Security rule could soon disappear

Two payment options will replace paper checks

Beneficiaries can choose direct deposit into a checking or savings account.

Direct deposit can be set up in the following ways:

  • Personal My Social Security account.
  • Treasury’s Go Direct website.
  • Treasury or SSA phone support.
  • Bank or credit union.

The second option is the Direct Express Debit Mastercard, offered by U.S. Treasury Department. As Kiplinger points out, Social Security benefits are automatically deposited to the card on payment date.

Why some seniors may not use regular bank accounts

Some people have had bad experiences with banks in the past. Others live far from bank branches, and some struggle with account fees and overdraft fees. Others find bank account management confusing.

SSA tightens authentication rules

The SSA is strengthening identity checks to prevent fraud. Beneficiaries who are unable to access their online SSA account may need to visit a local SSA office. People who receive paper checks must visit an SSA office before changing their mailing address. The SSA also uses a stronger verification method when a beneficiary changes direct deposit information.

New rules may cause problems for some seniors

Seniors who no longer drive may find it difficult to get to an SSA office. Beneficiaries who do not have access to the Internet may have difficulty completing online verification. Family caregivers may know what needs to be done but may not have the legal authority to act. That creates challenges, Kiplinger said, as the government tries to strike a balance between preventing fraud and making benefits more accessible.

Helping seniors protect their Social Security accounts

Families can help beneficiaries create or secure a My Social Security account. Passwords should not be shared freely. Family members should avoid taking control of accounts without appropriate permission. Assistance should be provided only upon request by the beneficiary or when legal authorization exists.

Create a payment tracking system

Beneficiaries should keep a calendar showing:

  • Their Social Security payment dates.
  • Depends on payment of bill.
  • If the money does not arrive, please call the contact number.

Electronic payments can reduce mail delays and stolen checks, but they can’t prevent all problems.

end of paper social Security Inspections are about more than technology. This is to ensure retirees continue to receive benefits safely and on time. For most people, electronic payments are likely to be faster and more secure. However, seniors who still rely on paper checks may need additional planning, support and guidance. Kiplinger said experts say households should take action before payment problems arise rather than wait for a crisis to occur. For millions of retirees, Social Security remains the foundation of financial security, so a smooth transition is critical.

Bill Gates says Jeffrey Epstein tried to blackmail him through extramarital affair

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Bill Gates says Jeffrey Epstein tried to blackmail him through extramarital affair
Gates made the remarks during closed-door testimony before the House Oversight Committee on June 10.

Microsoft co-founder Bill Gates told U.S. lawmakers that late sex offender Jeffrey Epstein appeared to be considering blackmailing him over an extramarital affair, according to a transcript of Gates’ testimony released by a congressional committee.Gates made the remarks during closed-door testimony before the House Oversight Committee on June 10 as part of an investigation into his past ties to Epstein. Epstein died in prison in 2019 while awaiting trial on federal sex trafficking charges.Gates said Epstein made what he called “veiled” threats and appeared to be exploring ways to use his personal information to maintain influence, even as Gates is distancing himself from the financier.“I was not blackmailed, but you know, when you look at these emails, you know, Mr. Epstein’s brainstorming seemed to be going in this direction,” Gates told lawmakers, referring to Epstein case documents released by the U.S. Department of Justice in January.He added, “He has never sent me anything that I would call blackmail.”

Gates describes draft email

When questioned, Gates said Epstein appeared to be “rehearsing” how he or others might try to blackmail him, although no such messages were ultimately sent.Gates cited draft emails suggesting Epstein may have been considering exploiting knowledge of Gates’ personal life, AFP reported.The 70-year-old businessman also reiterated that he was unaware of Epstein’s criminal behavior when their relationship began and insisted that he “never harmed anyone.”

friendship and regret

Gates said his relationship with Epstein began in 2011, three years after Epstein pleaded guilty to prostitution-related charges involving minors.He acknowledged knowing about Epstein’s legal troubles but said he was told the financier could help raise significant funds for global health initiatives.“I knew it was sexual, but, no, I don’t think I knew — delved into the details, even though I probably should have,” Gates said.The testimony echoed comments Gates made in a written statement to a House panel earlier this month, in which he called his relationship with Epstein a “serious error in judgment.”“I should never have met with Epstein in the first place,” Gates said in the statement, adding that he regretted any interaction that might have helped enhance Epstein’s reputation.

congressional review

The House Oversight Committee is examining Epstein’s network of contacts with influential figures in politics, business and philanthropy. Lawmakers questioned Gates about meetings held between 2011 and 2014, years after Epstein’s 2008 conviction.Gates told the panel he had been in contact with Epstein about discussions related to philanthropy and global health funding but later severed ties after those efforts failed to materialize.He has also denied any knowledge of the ongoing criminal activity and has previously said he never visited Epstein’s private island or interacted with any of the victims, the Times of India reported.Epstein was arrested in 2019 on federal sex trafficking charges involving minors and died in custody later that year.The release of court and judicial department records has led to renewed scrutiny of his relationships with prominent public figures, although being named in the documents does not in itself suggest wrongdoing.

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Gold prices fell near two-week lows today as the dollar strengthened; Fed rate hike bets weighed on markets

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Gold prices continued to fall on Wednesday and remained near two-week lows. Spot gold fell 1.1% to $4,067.72 an ounce, having hit an intraday low of $4,050.60. U.S. gold futures also fell. Futures fell 1.6% to $4,083.60 an ounce. Gold is currently trading just above the important level of $4,000 an ounce, which many investors are watching closely.

Gold prices fell to near two-week lows today as a stronger U.S. dollar and expectations of a Federal Reserve interest rate hike weighed on demand (Pexel/Representative Image) (Pexel)
Gold prices fell to near two-week lows today as a stronger U.S. dollar and expectations of a Federal Reserve interest rate hike weighed on demand (Pexel/Representative Image) (Pexel)

According to Yahoo Finance, gold prices have fallen in five of the past six trading sessions, indicating continued weakness in prices. Gold also posted its third consecutive week of losses. One of the main reasons for the decline in gold prices is the strength of the U.S. dollar. The U.S. dollar index (DXY) has risen to its highest level in 13 months.

When the U.S. dollar strengthens, gold becomes more expensive for people using other currencies. This usually reduces the demand for gold. Investors also believe Fed Another rate hike is likely in the coming months. Higher interest rates are generally bad for gold because gold doesn’t earn any interest, making other investments more attractive.

gold price falls

market The probability of the Federal Reserve raising interest rates in September is currently estimated to be about 70%. Investors are also fully expecting another rate hike in December, according to Yahoo Finance. ING analysts said a stronger U.S. dollar and expectations that interest rates could remain higher for longer outweighed gold’s safe-haven appeal.

Also read: Oil Prices Today: Brent falls to $73 as Trump orders Justice Department to investigate oil companies over natural gas prices

Fed Interest Rate Outlook

Gold also came under pressure as concerns about energy supply disruptions in the Middle East eased. Investors are closely watching negotiations between the United States and Iran after both sides said they were making progress toward a broader peace deal. Discussions focused on improving oil and energy transportation through: Strait of Hormuzone of the busiest and most important oil transportation routes in the world. However, some major issues remain unresolved, including rules for nuclear inspections and Iran’s access to frozen assets held abroad.

middle east talks

Analysts said geopolitical tensions remain high, but gold prices are currently more affected by expectations for the Federal Reserve’s interest rate plan, Yahoo Finance said. Investors are also awaiting a U.S. personal consumption expenditures (PCE) inflation report due on Thursday. The report is closely watched because it could send an important signal about the Fed’s next move in interest rates, affecting gold prices and financial markets.

gold price level

The current price of gold is 26.14% below the 52-week high, but still 23.83% above the 52-week low. A week ago, gold was trading at $4,338.54 an ounce. Since then, the price has fallen by 6.74%. A month ago, gold was trading at $4,572.66 an ounce. Since then, the price has fallen by 11.51%. Among other precious metals, silver rose 0.8% to $61.12 an ounce after falling more than 5% in the previous session.

Who is Vinod Dodomani? Indian-American immigration lawyer faces $250,000 fine on fraud charges involving Indian nationals

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Who is Vinod Dodomani? Indian-American immigration lawyer faces $250,000 fine on fraud charges involving Indian nationals
An Indian immigration lawyer based in the United States faces a fine of more than $250,000 (Source: Facebook)

A U.S.-based Indian-origin immigration attorney faces a fine of more than $250,000 after federal authorities accused him of filing fraudulent asylum documents on behalf of his clients.Homeland Security Investigations (HSI) has filed five notices of intent to fine attorney Vinod Doddamani, the U.S. Department of Homeland Security (DHS) announced on Tuesday. The lawsuit involves 32 immigration cases in which he submitted 64 fraudulent documents, according to the agency.The Department of Homeland Security claimed that Dodamani’s multiple asylum applications were “identical or nearly identical in language and content and contained the same or nearly identical factual narratives and supporting details regarding the alleged persecution.”The agency said the documents were submitted on behalf of Indian nationals. In a post on“Our message to immigration attorneys is clear: If you engage in fraud, you will be held accountable.”This is the first time the Department of Homeland Security has sought financial penalties against lawyers accused of filing fraudulent asylum claims, according to U.S. officials.The move comes after the department’s top attorney issued a directive last month directing Immigration and Customs Enforcement (ICE) to pursue attorneys suspected of filing false asylum claims in immigration court.“Fraudulent asylum claims threaten the security of Americans by overwhelming our burdened immigration system and delaying the deportation of dangerous criminal aliens,” said James Percival, general counsel for the Department of Homeland Security.He added: “By holding [Doddamani] In order to be responsible, we send a message to other immigration attorneys across the country who engage in fraudulent practices: Your days of abusing and defrauding our immigration system are over. “Percival also posted on Today we fined a lawyer more than $255,000 for representing Indian nationals in multiple fraud claims.

So who is Vinod Dodomani?

According to U.S. attorneys. com, Dodomani was born in India and later became a German citizen. He has lived in South Florida since 2009 and describes himself as “internationally raised.”He has an extensive academic background, holding four degrees. He earned his bachelor’s degree from Purdue University and later completed law school at Chapman University. During his legal studies, he specialized in intellectual property, entertainment, international and immigration law.Dodomani is also multilingual, saying he speaks ten languages, including German, French, Polish, Italian, Spanish and Hindi.He has served as a patent, trademark, technology and immigration attorney. His biography states that he has represented clients before U.S. Citizenship and Immigration Services (USCIS), appeared in immigration courts across the United States, and handled deportation and deportation cases.Prior to entering the legal industry, Doddamani worked as an IT consultant and systems analyst for several large organizations. His resume lists work experience at companies and institutions including Sony Pictures Entertainment, Credit Suisse, PIMCO, Capital Group, AEG and the Simon Wiesenthal Center.His legal career also includes patent law, trademark prosecution and intellectual property matters. He is admitted to the bars of Illinois and the District of Columbia and has worked in private law practice and intellectual property consulting.According to his Facebook profile, Vinod studied physics, chemistry and mathematics at St. Joseph’s College in Bangalore, India. He lives in Los Angeles, California.

Oil Prices Today: Brent falls to $73 as Trump orders Justice Department to investigate oil companies over natural gas prices

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Oil prices fell sharply again on Wednesday as concerns about supply disruptions eased. International benchmark Brent crude fell about 4% to around $73 a barrel, its lowest level since before the United States and Israel launched air strikes on Iran earlier this year. U.S. West Texas Intermediate (WTI) crude oil also fell about 4% to around $70 a barrel.

Brent crude oil prices fell to $73 as Trump ordered the Justice Department to investigate oil companies over gasoline prices and alleged price gouging. (SPENCER PLATT / GETTY IMAGES NORTH AMERICA / Getty Images via AFP) (Getty Images via AFP)
Brent crude oil prices fell to $73 as Trump ordered the Justice Department to investigate oil companies over gasoline prices and alleged price gouging. (SPENCER PLATT / GETTY IMAGES NORTH AMERICA / Getty Images via AFP) (Getty Images via AFP)

As oil prices fall, US President Donald Trump Major oil companies are under increased pressure. Trump said he has directed the Department of Justice (DOJ) to immediately investigate whether oil companies are unfairly keeping gas prices high for consumers, according to a post on Truth Social.

Oil companies under pressure

Trump accused oil companies of not passing on lower crude prices to drivers. He said oil companies are paying much less to buy crude oil, but gas stations are not cutting prices fast enough. The president claims consumers are being “cheated.” Trump further mentioned that customers were being overcharged because gasoline prices did not fall with the sharp drop in oil prices.

Also read: Stock Market Today: S&P 500, Nasdaq edge higher as tech stocks rebound and oil prices fall ahead of Micron earnings

Trump warned that gas prices should fall faster. He said he directed the Justice Department to immediately begin investigating the issue and recommended that prices at the pump should already be reduced. The pressure comes as Americans continue to contend with higher fuel costs related to the conflict with Iran. The effective closure of the Strait of Hormuz, one of the world’s most important oil shipping routes, has raised fuel supply concerns and pushed up energy prices.

U.S. natural gas prices fall

Gasoline prices soared early in the conflict. According to “The Hill”, as fuel shortages and supply concerns spread, the average price of gasoline in the United States climbed to more than $4 per gallon at the end of March. Natural gas prices have begun to decline but remain high. Average price of regular gasoline USA Gas prices were just under $4 a gallon Wednesday, compared with about $4.50 a gallon a month ago, according to AAA.

Trump approval rating drops

The Iran conflict has hurt Trump’s public approval ratings. During the war, rising fuel costs and broader economic pressures became concerns for many Americans. A recent survey shows that many Americans believe U.S. military action has gone too far. Some 59% of U.S. adults said U.S. military involvement in the region “went too far,” according to an Associated Press-NORC survey released last week.

Trump’s approval ratings on economic issues also declined during the conflict. In an April AP-NORC poll conducted by The Hill, his approval rating for handling the economy fell to 30 percent. Public opinion about the economy has become more negative. The survey found that Americans are increasingly worried about the state of the economy as conflict and rising energy costs continue.

White House defends economy

this White House It has repeatedly argued that the economic pain is temporary. Trump administration officials say the short-term costs are necessary to prevent Iran from developing nuclear weapons. trump card Concerns about rising prices are allayed. He rejected a Labor Department report showing rising consumer prices, calling it a “false inflation report.” The president insists economic data remains strong. Trump said overall economic data remained positive despite concerns about inflation and fuel costs.

For the market, the most immediate thing is the sharp drop in crude oil prices. Brent crude was near $73 a barrel and WTI crude was near $70 a barrel, suggesting traders are no longer as worried about serious oil supply disruptions as they were in the early days of the Iran conflict. The key question now is whether lower oil prices will translate into cheaper gasoline. Trump’s threat of a Justice Department investigation targets precisely this question; whether oil companies will quickly pass on lower crude costs to U.S. consumers.

‘Say sorry’: How an Indian woman confronted a Bangladeshi waiter in Italy over anti-India comments caught on video

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'Say sorry': How an Indian woman confronted a Bangladeshi waiter in Italy over anti-India comments caught on video
In Italy, police intervened after a group of Indian women stood up and used offensive slurs against waiters.

A heated row at an Italian restaurant went viral after an Indian woman and her friend confronted a waiter over anti-India comments and demanded an apology.The incident was shared on Instagram by influencer Khushi Dubey, who posts under the handle @khushicupcake5.In a video titled “This is what happened to us in Italy,” Dube recorded a conversation with a waiter named Hussain, who made offensive remarks about India and Indian customers.The video begins with an argument over payment, although it’s unclear what sparked the argument. During the confrontation, the waiter can be heard saying: “Get out of here, I’m calling the police.”The women objected to his tone. One of them responded: “You know what? Watch your language. We’re ladies first, okay?”As the debate continued, Hussein turned his attention to the group’s nationality. At one point, he said, “You’ve done a terrible job with your country.” According to the video, one of Kush’s friends responded, “We’re from Bangladesh, that’s why,” sarcastically trying to challenge him.Soon, the exchange between the two sides became more intense. The waiter is then heard to say: “You’re from bloody India.”Another woman responded: “Mr Hussein, be respectful. You should know how to respect women.”The comments upset the group. In the video, Khushi can also be heard telling her friend in Hindi: “Yaar usko paise do aur chalo warna, I’m going to slap him.”Despite the confrontation, the women continued to challenge the waiter’s discriminatory and anti-Indian remarks.Eventually, two Italian police officers arrived on the scene. In the presence of police, the women said the waiter acknowledged his remarks and issued an appropriate apology.Hussein seemed reluctant and tried to resolve the issue, but the group refused to let the matter end without an apology“No sir, please say I am sorry for insulting India,” one of the women told him.Kush also urged him to apologize, saying: “Say, I’m sorry for insulting India.”When the waiter tried to avoid the discussion, the women continued to pressure him to take responsibility.“You had to say that. All you said was ‘I’m going to call the police’,” one added.Following the incident, Dube shared her thoughts online, saying the episode showed how Indians are sometimes unfairly stereotyped or blamed when traveling abroad.“Every time it’s not Indians’ fault, sometimes, it’s the people who discriminate against us. Always respect your country. Jai Shinde,” Dubey wrote.

Stock Market Today: S&P 500, Nasdaq edge higher as tech stocks rebound and oil prices fall ahead of Micron earnings

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U.S. markets opened mixed on Wednesday. The S&P 500 rose about 0.1%, the Nasdaq Composite also rose 0.1%, and the Dow Jones Industrial Average fell about 15 points (0.1%).

The S&P 500 and Nasdaq futures rose as technology stocks rebounded from a selloff. (Photographer: Erik Flyg/Bloomberg) (Bloomberg)
The S&P 500 and Nasdaq futures rose as technology stocks rebounded from a selloff. (Photographer: Erik Flyg/Bloomberg) (Bloomberg)

U.S. stock futures are trading higher ahead of the open this morning. S&P 500 futures rose 0.3%. Nasdaq 100 futures rose 0.6%, driven by a rebound in technology stocks. Dow Jones Industrial Average futures rose 15 points, or 0.03%.

Oil prices continue to fall

Oil prices fell sharply, boosting market sentiment. Brent crude fell about 3% to around $74 a barrel, its lowest level since before the U.S. and Israel launched air strikes on Iran earlier this year. U.S. West Texas Intermediate (WTI) crude also fell about 3% to around $71.

Micron Technology Financial Report

Chipmaker Micron is scheduled to report earnings after the close on Wednesday. According to CNBC, analysts surveyed by FactSet expect Micron Technology to report earnings of $20.83 per share and revenue of $35.75 billion.

Investors are paying attention to Micron Technology’s earnings report after the market closes. Before the news was announced, Micron Technology’s stock price rose about 4%. The stock fell 13% on Tuesday, one of its worst trading days in recent memory. Investors hope strong earnings will support the semiconductor industry.

Other memory chip stocks also rebounded

Sandisk shares rose nearly 3% in premarket trading. Sandisk also fell 13% during Tuesday’s trading session. The Roundhill Memory ETF (DRAM) fell 14% on Tuesday, but was up about 3% before the open on Wednesday, CNBC reported.

Intel and Qualcomm

Intel shares rose more than 1% in premarket trading after falling 6% on Tuesday. Qualcomm rose more than 1% after falling 8% in the previous session. Investors are buying back some technology stocks after Tuesday’s sharp losses.

Tuesday was a tough day for tech stocks

this S&P 500 Index It fell 1.44% on Tuesday. The Nasdaq Composite fell 2.21%. The Dow Jones Industrial Average fell 45.87 points, or 0.09%. A massive sell-off in semiconductor-related stocks was one of the main reasons for the market’s decline.

Morgan Stanley warns risks related to artificial intelligence may be increasing

Dan Skelly, head of market research and strategy at Morgan Stanley Wealth Management, said the recent weakness may not be solely due to technical trading factors. He said there are concerns about price wars among AI model builders. He also noted that rental prices for older graphics processing units (GPUs) have begun to drop. Skelly said Microsoft appears to be focusing more on low-cost AI models, which could mark a shift in direction for the AI ​​industry.

Trump comments on Strait of Hormuz

president Donald Trump Iran informed that us Ships passing through the Strait of Hormuz will not face tolls, insurance or other fees. According to the “Truth Society” post, Trump also said that the United States plans to use Iranian funds under U.S. control to purchase American agricultural products for Iran. He said Iran urgently needs food supplies.

Elon Musk loses billionaire status

Elon Musk’s net worth has dropped to about $957 billion, according to the Bloomberg Billionaires Index. Just over a week ago, he became the world’s first trillionaire. Despite his decline in wealth, Musk remains the world’s richest man.

Also read: Elon Musk loses trillionaire status as SpaceX stock falls, says money will ‘no longer be relevant’ due to artificial intelligence

SpaceX shares have fallen 19% over the past five trading days. Tesla shares fell 7% during the same period. The drop in stock prices reduced Musk’s paper wealth, taking it below the $1 trillion mark.

Take-Two Interactive shares rise after big GTA 6 news

Shares of Take-Two Interactive rose more than 2% in premarket trading. The company announced that pre-orders for Grand Theft Auto VI will begin on Thursday. According to CNBC, GTA 6 is scheduled to launch on PlayStation 5 and Xbox Series X and S on November 19.

Cerebras shares fell despite strong revenue growth.

Cerebras Systems shares fell more than 10%. Revenue has doubled in the past year. Investors focused on the company’s forecast for a decline in gross margin in the second quarter.

According to CNBC, TD Cowen analyst Joshua Buchalter said concerns about profit margins are overblown. Pricing was stronger than expected and demand for AI computing remains higher than supply, he said. Buchalter said this is a positive sign for AI infrastructure providers.

Stock Market Today: Key Points

  • U.S. stock futures rose on Wednesday as investors bought back technology stocks after Tuesday’s sharp selloff.
  • Micron Technology’s earnings report is the biggest market event of the day and could impact chip stocks, artificial intelligence-related companies and the broader market.
  • Meanwhile, falling oil prices, Elon Musk’s loss of trillionaire status and optimism surrounding Grand Theft Auto 6 have also attracted investors’ attention.

In 1999, a farmer donated 87 acres to create a park for just $10; now that land is being sold for a data center in a deal that could bring $10 million in revenue and $30 million in taxes to the city | World News

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In 1999, a farmer donated 87 acres to create a park for just $10; now that land is being sold for a data center, a deal that could bring in $10 million in revenue and $30 million in taxes for the city
Park land donated by farmers becomes part of data center deal (Representative AI image)

A nearly three-year-old land donation by the city of Tyler, Texas, has become the subject of a legal dispute after the property originally designated for future parkland was sold for a data center project. The 87.97-acre land was donated in 1999 for a symbolic $10, with a deed stating that it should be held in trust for future use as parkland. After a series of transfers between nonprofits and public entities, the land was sold to data center developer Blueprint in 2025 for $10 million. City officials cited the economic benefits of the project, while residents questioning the development argued the original deed restrictions should be maintained.

From $10 park donation to $10 million land sale

On July 7, 1999, descendants of local farmer TJ Bland transferred approximately 87.97 acres to the Texas Parks and Recreation Foundation for $10. The land will be held “in trust for future use as parkland in Williamson County,” the deed states.Residents familiar with the property’s history said Brand hopes the land will become a recreational space for the local community. The covenant language has since become a key part of the legal dispute surrounding the site’s future use.After the initial donation, the property changed hands several times.In 2003, the Texas Parks and Recreation Foundation transferred the land to the Williamson County Parks Foundation. About a month later, the Williamson County Parks Foundation transferred the property to the city of Tyler.In 2008, the City of Tyler sold the land to the Tyler Economic Development Corporation (TEDC) for $15,000. The most recent transfer occurred in 2025, when TEDC sold the property to Blueprint for $10 million.The order of the transfers is crucial to the ongoing legal debate over whether the original parkland restrictions are still enforceable.Blueprint plans to build a 135,000-square-foot data center on the property. Data centers house the computer servers and network infrastructure used to support cloud computing, online services, data storage and artificial intelligence applications.The proposed facility is part of a broader growth in data center development across the United States as demand for digital infrastructure continues to grow.

Concerns raised by residents

Residents who live near the site have expressed concerns about the potential impact of the project on the surrounding area. Issues raised during public discussions included noise, power demands, water usage and possible impacts on nearby property values.Some residents are also concerned about the original use of the land, arguing that property donated for future parkland should not be converted to other uses.Opposition groups attended public meetings and took legal action to challenge the development.

Economic impact cited by officials

City officials say the project could generate about $30 million in tax revenue over the next decade.The city estimates that about $20 million of that amount could benefit local schools. Officials also pointed to the broader economic impacts associated with major technology infrastructure projects.The city said existing zoning at the site limits its ability to block the proposed development.

Legal proceedings continue

Residents challenging the project have filed a lawsuit in an attempt to block the development. Court rulings so far have generally been in favor of the developers, allowing the project to continue through the approval process.Opponents have appealed the case to the 3rd Court of Appeals in Austin. One of the key issues under review is whether the parkland requirements contained in the 1999 deed remain legally binding following a subsequent transfer of the property.The dispute has attracted attention because it involves donated land that was originally subject to certain conditions for public use. The case comes as data center construction is expanding rapidly across the United States.The outcome of the appeal may help determine how similar deed restrictions are interpreted when donated land is transferred over time between organizations and government entities.