The Court of International Trade has struck down a second round of global tariffs ordered by President Trump, after his earlier import taxes were outlawed by the U.S. Supreme Court. The decision is a victory for importers and a setback for the administration.
US airlines incurred $6.66 billion in jet fuel costs in May, marking the second consecutive month above $6 billion. This represents an 84% increase from the previous year, driven primarily by higher fuel prices rather than increased consumption. The ongoing impact of Middle East conflict and volatile energy prices continues to affect the industry.
Applications for Startup Battlefield Australia have been extended to July 20 due to high interest. Selected founders will pitch to investors, media, and industry leaders, with the top three receiving Stripe credits and the grand prize winner gaining entry to TechCrunch Disrupt in San Francisco.
Netflix faces declining viewership after initial seasons, with shows like 'Beef' losing 70% of viewers. Factors include long waits between seasons, competition from free platforms like TikTok and YouTube, and the legacy of its own binge-watching model, which hinders long-term engagement.
Netflix, Disney, and YouTube are reportedly interested in bidding for the U.S. broadcast rights to the 2030 and 2034 FIFA World Cups, potentially challenging Fox. Amazon and Apple may also join the race, leading to a bidding war. FIFA plans to sell English and Spanish rights together, expecting bids between $1.5 billion and $2 billion per tournament.
US manufacturers, particularly in the Rust Belt, face soaring electricity costs due to surging demand from data centers straining the PJM Interconnection grid. This impacts profit margins for steelmakers and brick factories, potentially undermining "Made in America" initiatives.
Microsoft has implemented significant layoffs across its game development studios, including id Software and Bethesda. Reports indicate a majority of id Software employees, including coders, were let go, while Bethesda is also undergoing substantial staff reductions to focus on core franchises, impacting games like The Elder Scrolls Online.
