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A federal judge in Virginia on Friday temporarily blocked the Department of Justice from taking any further action to create, fund or spend money from its so-called Anti-Weaponization Fund as a lawsuit challenging it proceeds.The DOJ said earlier this month that it was creating the $1.8 billion fund as part of a settlement of a $10 billion lawsuit by President Donald Trump against the Internal Revenue Service for the leak of his tax records by an IRS employee.The fund is meant to compensate people who allege they were the victims of prosecutorial overreach by the DOJ under the Biden administration.…

Traders work at the New York Stock Exchange on May 28, 2026. NYSEForget a tale of two cities, it’s two different worlds for traders in the U.S. stock market.If you’re tracking index gains in the S&P 500, it’s a slow and steady grind as volatility declines to the lowest since January, with the Cboe Volatility Index (VIX) touching 15.6 Thursday, compared to 35 in March when geopolitical fears drove daily whipsaw moves in the market.If you’ve been trading individual stocks, the roller-coaster ride hasn’t stopped, and in many cases – particularly in tech names – it’s only gotten crazier.Cboe’s S&P…

Global oil prices have tumbled by around 20% from 2026 highs as investors have grown increasingly optimistic on prospects for a long-lasting ceasefire deal between the U.S. and Iran, which would unlock shipping through the Strait of Hormuz.Brent crude was down 1.2% on the final trading day of the month, at $92.56, as of 11:18 a.m. in London (6:35 a.m. ET.). The international price benchmark has plunged almost 19% in May, having suffered its worst month since the Covid-19 pandemic, is now off about 20% from its 2026 peaks.Meanwhile, U.S. West Texas Intermediate futures prices have fallen 16.5% month-to-date, and were…

Thomas Fuller | Lightrocket | Getty ImagesReplimune plans to resubmit its melanoma drug to the Food and Drug Administration for review after a leadership exodus at the agency, the company said Friday. The FDA twice rejected Replimune’s melanoma treatment under the previous FDA leadership, including former Commissioner Marty Makary, who stepped down earlier this month. Replimune had accused the FDA of wrongfully blocking what some doctors see as a promising new way to treat the skin cancer, while the FDA had said Replimune ignored the agency’s guidance for conducting its clinical trials.The bitter fight became a flashpoint for what some…

By Akriti Shah and Neil J Kanatt May 29 – Shares of and tumbled over 16% in early trading on Friday after both retailers issued weak forecasts, signaling deepening pressure on consumer discretionary spending. The Old Navy parent cut its annual sales forecast as it works through a turnaround, while American Eagle kept its forecasts intact but cautioned on near-term gross margins, with both flagging weakness in certain women’s apparel categories. The results underscore a widening split in consumer spending, with record-low sentiment driven by the Iran war forcing lower-income households to cut back, even as higher-income shoppers remain selectively…

The European Union is looking to “intensify” discussions with the U.S. administration on the most advanced AI models, including those with “cyber capabilities,” a Commission official told CNBC.Anthropic’s powerful Mythos model, announced in April, sent governments and businesses into a frenzy, prompting a wave of concerns about AI-powered cyberattacks. That same month, the Wall Street Journal reported that the White House opposed Anthropic’s plan to expand access to its powerful Mythos model. Anthropic on Thursday said it expects to bring “Mythos-class” models to customers in the coming weeks. The White House says it’s working closely with AI labs to strike…

Sir Jeffrey Donaldson, the former DUP leader, is on trial for 18 sex abuse charges, including one count of rape, all of which he denies. Source link

A “double scar” of past inflation woes and geopolitical trauma is warping how consumers view the economy and threatening a drop-off in retail spending, new research from the European Central Bank showed.According to ECB researchers, euro area households have become more sensitive to the financial consequences of the Iran war due to cumulative economic wounds left behind by the post-pandemic inflation surge and the 2022 invasion of Ukraine, which resulted in soaring energy prices. “There is good reason to believe that consumer expectations are shaped not only by current developments, but also by memories of these recent adverse events,” they wrote…

The world’s 30 most valuable soccer teams are worth an average of $2.66 billion, according to CNBC’s Official Global Soccer Team Valuations 2026. This number puts soccer’s average team value behind that of the National Football League, whose average team is worth $7.65 billion , the National Basketball Association, at an average of $5.52 billion , and Major League Baseball, at $2.95 billion , and puts it ahead of the National Hockey League, at $2.2 billion , according to CNBC’s official team valuations. Teams at the top of CNBC’s soccer rankings are global brands that collect big piles of cash…

Sunlands Technology stock surges on $50M buyback plan Source link