Iranian airstrikes have damaged or destroyed at least 228 structures or pieces of equipment at U.S. military across the Middle East since the war began, hitting hangars, barracks, fuel depots, aircraft and key radar, communications and air defence equipment, according to a Washington Post analysis of satellite imagery. The amount of destruction is far larger than what has been publicly acknowledged by the U.S. government or previously reported. (Washington Post – Continue Reading)

The US Treasury signalled it’s still comfortable issuing the shortest-dated debt to meet escalating government borrowing needs — even as warnings emerge about the strategy’s risks.

The Treasury anticipates keeping nominal note and bond sale sizes unchanged “for at least the next several quarters,” the department said in a quarterly statement on debt policy Wednesday. “Treasury believes its current auction sizes leave it well positioned to address potential changes to the fiscal outlook” and shifts in the Federal Reserve’s purchases of Treasuries, it said. (Bloomberg – Continue Reading)

Prediction markets traders are confident the Securities and Exchange Commission will change its rules governing how often companies must report financial statements to shareholders, to semiannually from quarterly, following a formal proposal by regulators on Tuesday.

Opinion is more divided, however, as to when it will happen.

After the proposal was disclosed Tuesday, odds on the Kalshi prediction market that regulations will be eased by April 2027 surged to 73% from 46%.

Chances of faster approval, by next Jan. 1, initially jumped to 67%, fell to about 50-50 and recently stood at about 57% odds. (CNBC – Continue Reading)

Ted Turner, the media mogul who cut a brash and vivid figure on the American scene of the late 20th century by dominating the cable television industry, creating the 24-hour news cycle with CNN, and extending his restless reach into professional sports, environmentalism and philanthropy, died on Wednesday at his home near Tallahassee, Fla. He was 87.

Phillip Evans, a spokesman for the family, confirmed the death. Mr. Turner announced in 2018 that he had Lewy body dementia, a progressive brain disorder.

Mr. Turner’s signature creation was CNN — the Cable News Network — which revolutionized television news in 1980 by presenting it 24 hours a day and eventually inspiring other media operations to follow suit. But his portfolio of business ventures bulged with much more, and their impact on American culture was considerable. (NY Times – Continue Reading)