Archive

June 2025

Browsing

Apple was sued on Friday by shareholders in a proposed securities fraud class action that accused it of downplaying how long it needed to integrate advanced artificial intelligence into its Siri voice assistant, hurting iPhone sales and its stock price.

The complaint covers shareholders who suffered potentially hundreds of billions of dollars of losses in the year ending June 9, when Apple introduced several features and aesthetic improvements for its products but kept AI changes modest.

Apple did not immediately respond to requests for comment.

CEO Tim Cook, Chief Financial Officer Kevan Parekh and former CFO Luca Maestri are also defendants in the lawsuit filed in San Francisco federal court.

Shareholders led by Eric Tucker said that at its June 2024 Worldwide Developers Conference, Apple led them to believe AI would be a key driver of iPhone 16 devices, when it launched Apple Intelligence to make Siri more powerful and user-friendly. But they said the Cupertino, California-based company lacked a functional prototype of AI-based Siri features and could not reasonably believe the features would ever be ready for iPhone 16s.

Shareholders said the truth began to emerge on March 7 when Apple delayed some Siri upgrades to 2026 and continued through this year’s Worldwide Developers Conference on June 9 when Apple’s assessment of its AI progress disappointed analysts.

Apple shares have lost nearly one-fourth of their value since their Dec. 26, 2024 ,record high, wiping out approximately $900 billion of market value.

This post appeared first on NBC NEWS

It’s a measure of President Trump’s success in bombing Iran’s key nuclear sites that even some of his harshest detractors are praising the risky endeavor.

The calculated deception – ‘I may do it, I may not do it’ – and dispatching of a decoy fleet of B-2 bombers were crucial to achieving the mission. 

Yes, the situation may look very different in six months, depending in part on the response of Russia and other allies of Iran, the world’s largest terror state. Just yesterday, Tehran launched ballistic missiles at the U.S. military base in Qatar, with no reported casualties. 

Still, Trump should avoid landing on any aircraft carriers with a ‘Mission Accomplished’ banner, a reminder of how George W. Bush’s premature celebration turned into the Iraq quagmire that cost more than 4,000 American lives.

Yes, a sizable chunk of the MAGA coalition was opposed to U.S. intervention after the original Israeli airstrikes on grounds that Trump had always vowed to keep this country out of faraway wars. Some of them are falling into line, as there’s a rally-round-the-president effect after military action – especially when it’s successful. 

Sure, Trump followed up by posting about the possibility of ‘regime change’ – this after JD Vance told ‘Meet the Press:’ ‘We’re not at war with Iran. We’re at war with Iran’s nuclear program.’

Maybe the Truth Social message was simply designed to boost pressure on Ayatollah Ali Khamenei – who could have been taken out – or maybe Trump is tempted by the W-era mentality of ‘we will be greeted as liberators.’ 

No one is quibbling with the deceptions, any more than Dwight Eisenhower was criticized for deploying dummy tanks and vehicles on D-Day to convince the Nazis that the 1944 attack would come at a different location rather than Normandy.

Bret Stephens, an anti-Trump conservative columnist at the New York Times, called the bombings ‘a courageous and correct decision that deserves respect, no matter how one feels about this president and the rest of his policies…Trump could have continued to outsource the dirty work of hitting Iran’s nuclear capabilities to Israel, hoping that it could at least buy the West some diplomatic leverage and breathing room.’

David Ignatius, not a fan of the president’s foreign policy, wrote in his Washington Post column that ‘Trump and his top advisers acted boldly to hit the prize targets in Iran’s nuclear program — at Fordow, Isfahan and Natanz — that remained after nine days of Israeli bombing. The operation was bigger and more comprehensive than even some Israelis had expected, and it showed that the U.S. military, even during the chaotic Trump presidency, still performs with unmatched power, precision and reach.’

But these are among the relatively few exceptions. By and large, liberals and Democrats denounced the president’s action, and conservatives and Republicans hailed it. 

And you know the reaction would have been reversed if Joe Biden was in office and had ordered the airstrikes. 

There’s a legitimate question about whether Trump should have sought approval from the Hill, but this Congress has largely ceded its role on foreign affairs (and on tariffs, for that matter). Besides, a floor debate would have been like sending up neon lights about the coming attack.

Sometimes a commander-in-chief has to attack unilaterally. When Barack Obama and Bill Clinton ordered military strikes without consulting Congress, almost nobody made a big issue of it.

The Times reports that Iran warned Qatar of the retaliatory attack, which was an obvious attempt to minimize casualties and render the half-dozen missiles largely symbolic (though not to the military personnel having to seek shelter). That amounted to a muted initial response by the Iranians, since any American deaths would clearly trigger a further escalation by the Trump military.

The United States is the only country with bunker-busting bombs, which enabled it to damage or destroy the underground uranium enrichment site buried under the Fordow site. The truth is that our experts don’t know how much damage was done far below the surface and may not for weeks.

But given that the U.S. completely controls Iranian airspace, thanks to the earlier Israeli strikes, Trump could order devastating new attacks at any time with virtually no fear of our planes being shot down. And the Iranians are acutely aware of that.

It was deception and misdirection that enabled the Pentagon to pull this off. When Trump said he would decide what to do in the next ‘two weeks’ – a stance echoed by Press Secretary Karoline Leavitt – he had already approved the military plan, subject to last-minute reservations. The attack began 30 hours later.  

When Trump dined with Steve Bannon, the most prominent opponent of the U.S. attacks, along with Tucker Carlson, some surmised he was changing his mind. The same was true when he went to a fundraising dinner at his Bedminster, N.J. golf club, and nothing seemed imminent.

When Fox’s Brian Kilmeade asked Leavitt yesterday about her boss’s regime change posting, she did not minimize it:

‘If the Iranian regime refuses to come to a peaceful diplomatic solution, which the president is still interested and engaging in, by the way, why shouldn’t the Iranian people take away the power of this incredibly violent regime that has been suppressing them for decades?’

Multiple media reports say Trump was angry with his director of national intelligence, Tulsi Gabbard, for testifying in March that the intelligence community believes that Iran is nowhere near building a nuclear weapon, and a video she made after visiting Hiroshima. She has tried to walk it back, but there is little question she has been partially sidelined.

The Washington Post yesterday reported having obtained the audio file of an Israeli intelligence operative’s June 13 call to a senior Iranian commander:

‘I can advise you now, you have 12 hours to escape with your wife and child. Otherwise, you’re on our list right now,’ the translation said. The operative suggested Israel could target the general and his family at any moment: ‘We’re closer to you than your own neck vein.’

There is no independent verification that the call was actually made.

I don’t use this word lightly, but Iran is an evil country. Anyone of a certain age recalls how the Iranians, in 1979 after the ouster of the Shah, held our embassy staffers hostage for 444 agonizing days.

The ruling theocracy also finances the terror groups Hezbollah and Hamas. In fact, if it had not been for Hamas’ spectacular miscalculation in mounting the barbaric massacre in Israel on Oct. 7 – which again included the seizing of civilian hostages – Gaza would not now be the wasteland it has become. Israel bears some responsibility for this, yet also knows that it would be the prime target if Iran succeeds in enriching weapons-grade uranium.

Finally, even if things go south, what happened on Sunday has in my view changed the way people look at Donald Trump. He rolled the dice in a high-stakes gamble. He’s not just a garden-variety isolationist. He doesn’t have to run again, but he managed to keep everything secret and pulled it off with the aid of our superb military. And that took guts.

This post appeared first on FOX NEWS

Jio Financial Services shares witnessed a 3% rise on Tuesday as investors responded enthusiastically to a combination of robust quarterly results, a major acquisition, and a surge in trading volumes.

At the time of publication, the Jio Financial Services shares were trading at Rs 302.05.

The rally, which saw nearly 10.6 million shares worth over Rs 318 crore change hands, highlights renewed market confidence in the company’s growth trajectory and strategic direction.

Jio Financial Services shares are driven by strong fundamentals

The latest rally in Jio Financial Services shares came after the company posted a consolidated net profit of Rs 316 crore for the fourth quarter of FY25, marking a 2% year-on-year increase.

While interest income for the January–March 2025 quarter dipped slightly to Rs 276 crore, fee and commission income rose to Rs 39 crore, reflecting the company’s efforts to diversify its income streams.

One of the most striking figures from the results was the explosive growth in assets under management (AUM) in the lending and leasing segment.

AUM soared to Rs 10,053 crore, compared to just Rs 173 crore a year earlier, signaling JFS’s successful push into new business areas and its ability to scale rapidly.

The company’s aggressive expansion into digital payments, coupled with its strong balance sheet and backing from the Reliance Group, positions it well for future growth. 

Strategic acquisitions

The developments came in the backdrop of Jio Financial Services completing the acquisition of over 7.9 crore equity shares of Jio Payments Bank Limited (JPBL) from the State Bank of India (SBI).

The acquisition was concluded last week at the value of Rs 104.54 crore.

The move follows JFS’s earlier announcement in March to purchase SBI’s 17.8% stake in the payments bank and is widely seen as a strategic step to strengthen the company’s foothold in the digital payments and fintech ecosystem.

The shareholding pattern of the company also reflects strong confidence with 47.1% held by promoters, 11.7% by foreign institutional investors (FIIs), 6.6% by mutual funds, and 26.8% by the public.

‘Hold’ consensus and limited upside

Analyst recommendations for Jio Financial Services stock are currently neutral.

Stock market research and analytics platform Trendlyne indicates that 100% of analysts covering the stock rate it as a ‘Hold’.

The average target price is Rs 272, which suggests a downside of around 7–10% from current levels, as the stock recently traded above Rs 293. 

There are no ‘Buy’ or ‘Sell’ recommendations at this time, reflecting a consensus that investors should wait for further clarity on growth and integration of recent acquisitions before taking new positions.

For investors, the coming quarters will be crucial as JFS integrates JPBL, seeks to grow its AUM further, and navigates an increasingly competitive fintech landscape.

The company’s ability to deliver on these fronts will determine whether the recent surge in its share price marks the start of a sustained uptrend or a temporary spike.

The post Jio Financial Services shares: what’s behind latest surge? appeared first on Invezz

Walmart has agreed to pay $10 million to settle a Federal Trade Commission civil lawsuit accusing the world’s largest retailer of ignoring warning signs that fraudsters used its money transfer services to fleece consumers out of hundreds of millions of dollars.

The settlement was filed on Friday in Chicago federal court, and requires approval by U.S. District Judge Manish Shah.

Walmart also agreed not to process money transfers it suspects are fraudulent, or help sellers and telemarketers it believes are using its services to commit fraud.

“Electronic money transfers are one of the most common ways that scammers tell consumers to send them money, because once it’s sent, it’s gone for good,” said Christopher Mufarrige, director of the FTC consumer protection bureau. “Companies that provide these services must train their employees to comply with the law and work to protect consumers.”

The Arkansas-based retailer did not admit or deny wrongdoing in agreeing to settle. Walmart did not immediately respond to requests for comment.

In its June 2022 complaint, the FTC accused Walmart of turning a blind eye to fraudsters who used its money transfer services to cash out at its stores.

Walmart acts as an agent for money transfers by companies such as MoneyGram and Western Union. Money can be hard to trace once delivered.

The FTC said fraudsters used many schemes that included impersonating Internal Revenue Service agents, impersonating family members who needed money from grandparents to avoid jail, and telling victims they won lotteries or sweepstakes but owed fees to collect their winnings.

Shah dismissed part of the FTC case last July but let the regulator pursue the remainder. Walmart appealed from that decision. Friday’s settlement would end the appeal.

This post appeared first on NBC NEWS

Roughly three-quarters of the nation’s health insurance providers signed a series of commitments this week in an effort to improve patient care by reducing bureaucratic hurdles caused by insurance companies’ prior-authorization requirements.

Director of the Centers for Medicare and Medicaid Services, Dr. Mehmet Oz, alongside Health and Human Services Secretary, Robert F. Kennedy Jr., announced the new voluntary pledge from a cadre of insurance providers, who cover roughly 75% of the population, during a press conference Monday. The new commitments are aimed at speeding up and reducing prior-authorization processes used by insurers, a process that has been long-maligned for unnecessarily delaying patient care and other bureaucratic hurdles negatively impacting patients.   

‘The pledge is not a mandate. It’s not a bill, a rule. This is not legislated. This is a opportunity for industry to show itself,’ Oz said Monday. ‘But by the fact that three-quarters of the patients in the country are already covered by participants in this pledge, it’s a good start and the response has been overwhelming.’

Prior-authorization is a process that requires providers to obtain approval from a patient’s insurance provider before that provider can offer certain treatments or services. Essentially, the process seeks to ensure patients are getting the right solution for a particular problem.

However, according to Oz, the process has led to doctors being forced to spend enormous amounts of man-power to satisfy prior-authorization requirements from insurers. He noted during Monday’s press conference that, on average, physicians have to spend 12 hours a week dealing with these requirements, which they see about 40 of per week. 

‘It frustrates doctors. It sometimes results in care that is significantly delayed. It erodes public trust in the healthcare system. It’s something we can’t tolerate,’ Oz insisted.

 

The pledge has been adopted by some of the nation’s largest insurance providers, including United Healthcare, Cigna, Humana, Blue Cross & Blue Shield, Aetna and many more. While the industry-led commitments aim to improve care for patients, it could potentially eat into their profits as well if patients start seeking care more often.

The commitments from insurers cemented this week include taking active steps to implement a common standardized process for electronic prior-authorization through the development of standardized submission requirements to support faster turnaround time. The goal is for the new framework to be operational by Jan. 1, 2027.

Another part of the pledge includes a commitment from individual insurance plans to implement certain reductions in its use of medical prior-authorization by Jan. 1, 2026. On that date, if patients switch insurance providers during the course of treatment, their new plan must honor their existing prior-authorization approvals for 90-days while the patient transitions.

Transparency is also a key part of the new commitments from insurance providers. Health plans enjoined with the commitments will pledge to provide clear and easy-to-understand explanations of prior-authorization determinations, including guidance for appeals. The commitment also states that by 2027, 80% of electronic prior-authorization approvals from companies will be answered in real-time.   

Oz, during the Monday press conference, compared the industry-led pledge to the Bible, saying, ‘The meek shall inherit the earth.’

‘I always grew up thinking ‘meek’ meant weak, but that’s not what meek means. ‘Meek’ means you have a sharp sword, a sword that could do real damage to people around you, but you decide, electively, to sheathe that sword and put it away for a while, so you can do goods, so you can do important things where once in a while we have to get together, even if we’re competitors, and agree,’ Oz said Monday.

‘That’s what these insurance companies and hospital systems have done,’ he continued. ‘They have agreed to sheathe their swords to be meek for a while, to come up with a better solution to a problem that plagues us all.’

This post appeared first on FOX NEWS

European stock markets began the trading week in negative territory on Monday, with major indices declining as the escalating conflict in the Middle East—and direct US involvement in it—remained the primary focus for global investors.

The pan-European Stoxx 600 index was down, with nearly all sectors in the red, reflecting a clear risk-off sentiment across the continent.

About 10 minutes into Monday’s trading session, the pan-European Stoxx 600 was trading 0.4% lower. This downturn was broad-based, affecting all major national bourses.

France’s CAC 40 was leading the losses, down 0.7%. Pre-market futures data from IG had already signaled a pessimistic start, with London’s FTSE anticipated to open 0.3% lower at 8,747, Germany’s DAX down 0.4% at 23,222, the French CAC 40 0.5% lower at 7,536, and Italy’s FTSE MIB projected to fall 0.6%.

The catalyst for this market caution was the significant development over the weekend where the United States entered Israel’s ongoing conflict with Iran.

The US launched strikes against three key nuclear sites in Fordo, Isfahan, and Natanz.

This move by US President Donald Trump came as a surprise to many investors, as the White House had indicated just last Friday that a decision on whether to attack Iran would be made “within the next two weeks.”

The immediate impact of these attacks was a further rise in oil prices and renewed fears of a wider, more destabilizing conflict in the Middle East.

This sentiment carried over from Asian markets, which had declined overnight, and was also reflected in US stock futures, which fell ahead of Monday’s session.

The only sector to buck the negative trend in Europe was oil and gas, which benefited from the surge in crude prices.

A contradictory calm? Why markets are brushing off the escalation

Paradoxically, while the US joining the war between Israel and Iran would typically be seen as a major geopolitical flashpoint that could send markets into a tailspin, the immediate reaction, though negative, has been somewhat contained.

Some investors and strategists appear to be, for now, largely shrugging off the escalation.

This seemingly muted response could be rooted in a belief among some market participants that the conflict will remain contained geographically and will not spiral into a larger, global confrontation.

There’s also a contrarian view emerging that suggests this contained conflict could, counterintuitively, be bullish for certain risk assets in the long run, though this perspective is not yet widely held.

However, the potential for global market sentiment to plummet further this week remains high as the situation continues to evolve.

The post Europe markets open: Stoxx 600 dips 0.4%, FTSE 100 -0.3% after US strikes in Iran appeared first on Invezz

DY6 Metals Ltd (ASX: DY6, “DY6” or the “Company”) is pleased to announce the initial visual estimations from the reconnaissance exploration program at the Douala Basin HMS Project, Cameroon. Desktop studies incorporating detailed geological mapping, geophysics, and known mineral occurrences, were used to define initial, high priority targets for ground- truthing. The reconnaissance programme, which consisted of hand auger and channel sampling, was successful in identifying high estimated concentrations of heavy mineral (HM) mineralisation across all the six tenements that make up the project. Additionally, the Company’s consultants have observed the presence of natural rutile grains within panned concentrates.

HIGHLIGHTS

  • The Company’s reconnaissance auger and channel sampling programme has been completed at the Douala Basin HMS Project
  • Reconnaissance sampling undertaken across the 6 Douala Basin tenements has identified thick zones of high estimated concentrations of heavy minerals (HM) as well as natural rutile
  • Work at the Douala Basin Project followed up on historical HM occurrences identified by previous Eramet drilling, as well as priority areas identified through the Company’s internal reviews
  • Samples collected from the reconnaissance program are due to be submitted for laboratory analysis in the coming weeks, with results expected in the September quarter
  • At Douala Basin, exploration will transition to a detailed campaign of auger drilling

Samples collected from this initial exploration programme are currently being prepped for dispatch to the Company’s laboratory for analysis in South Africa, with results expected in the September quarter.

Technical Consultant, Cliff Fitzhenry, commented:“While the Company’s primary focus is on the Central Rutile Project, where we have recently reported the presence of wide-spread residual natural rutile mineralisation, we believe that the Douala Basin HMS project has significant potential. The reconnaissance programme has over the last few weeks demonstrated the potential of the area, with the identification of high concentrations of visible heavy mineral sands across the project tenements through a mixture of auger, channel, and soil sampling work. Pleasingly, we have also observed natural rutile grains at Douala Basin.

We look forward to the assay results of the reconnaissance programme in the coming months.”

Reconnaissance exploration at the Douala Basin HMS Project

As announced on 5 June 2025, the Company commenced reconnaissance auger and grab sampling programmes at the Central Rutile and Douala Basin HMS projects, Cameroon. At the Douala Basin project, the Company has completed 12 hand auger drill holes (refer Figure 1), collecting 53 samples in the process, as well as collected 38 channel samples from 11 surfaces for analysis (refer Tables 1 & 2).

Cautionary Statement:

The Company cautions that, with respect to any visual mineralisation indicators, visual observations and estimates of mineral abundance are uncertain in nature and should not be taken as a substitute or proxy for appropriate laboratory analysis. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. Assay results from the drilling and sampling programmes will be required to understand the grade and extent of mineralisation. Initial assay results are expected in August 2025.

Click here for the full ASX Release

This post appeared first on investingnews.com

Israeli President Isaac Herzog said that Israel is ‘not dragging’ the U.S. into its war with Iran, pushing back against growing fears of a broader regional conflict after Washington sent an overnight strike against three major Iranian nuclear facilities on Saturday.

Herzog made the statement during an appearance on CNN’s ‘State of the Union’ with host Kasie Hunt on Sunday, in response to President Donald Trump’s decision to deploy bunker-buster bombs and Tomahawk missiles against Iran’s key nuclear sites at Fordow, Natanz and Isfahan.

‘We made clear throughout that we are not dragging America into a war,’ Herzog said. ‘We are leaving it to the decision of the President of the United States and his team, because it had to do with America’s national security interests, period. We are not intending, and we don’t ask for America now to go to war because the Iranians are threatening Israel.’

The Israeli leader added that the American decision to attack Iran’s nuclear infrastructure was ‘the right step’ for the U.S., describing the Iranian nuclear program as a threat to American and global security. 

‘The decision was taken because the Iranian nuclear program was a clear and present danger to the security interests of all the free world, especially the leader of the free world,’ Herzog added. ‘America, as the leader of the free world, was actually at risk from this program, and that is why it was the right step to do.’

Despite Washington’s military involvement, Herzog stressed that now is ‘the moment where one thinks about diplomacy.’ He urged that any renewed talks with Iran must ‘be nuts and bolts and very clear,’ citing a history of previously failed negotiations due to what he described as Iranians ‘lying constantly.’

Secretary of State Marco Rubio also reiterated Herzog’s message during an appearance on Fox News’ ‘Sunday Morning Futures’ with host Maria Bartiromo, asserting that the U.S. is ‘not at war’ with Iran. 

Rubio added that regime change is ‘not the goal’ and that Washington is still offering a diplomatic path forward. 

This post appeared first on FOX NEWS

Pinterest stock price has remained in a tight range in the past few days as investors assess its growth trajectory. PINS ended the week at $34.22, a few points below this month’s high of $35.4 It is about 45% above its lowest level in April this year. 

Pinterest growth continuing

Pinterest, a leading social media company, has been in a strong growth trajectory in the past few years. Its annual revenue has jumped from over $1.69 billion in 2020 to over $3.64 billion last year. 

Pinterest’s monthly users have been rising, moving from 160 million in 2016 to over 570 million, making it one of the top players in the social media space. 

Its business continued growing in the last quarter, albeit at a slower pace. Its revenue grew by 16% to over $855 million, with most of it coming from the United States and Canada. 

The US and Canada bring most of its revenue even though they account for a small share of its monthly users. They have 102 monthly users, accounting for about 17% of the 570 monthly users. 

Europe has become the fastest-growing market in terms of revenue. Its revenue grew by 24% in the first quarter to $147 million.

Most importantly, Pinterest’s EBITDA is growing. Its EBITDA jumped by 36% to $172 million, helped by its revenue growth and cost-cutting measures. 

Double-digit growth to continue

The management and Wall Street analysts are optimistic that it will have double-digit growth for a while. In the recent results, the management estimated that the second-quarter revenue growth will be between $960 million and $980 million, while its adjusted EBITDA will be between $217 million and $237 million. 

The average revenue estimate among Wall Street analysts is that its second-quarter revenue will be $973 million, a 14% annual increase. It will then cross the $1 billion metric next quarter.

Pinterest’s annual revenue will be $4.16 billion, followed by $4.74 billion in 2026, representing annual growth rates of over 14%. This revenue growth is much better than Meta Platforms.

Another potential catalyst for Pinterest stock is that it is relatively undervalued compared to other social media companies. It has a forward price-to-earnings ratio of 18, higher than the S&P 500’s 22.

Analysts see some more upside for the Pinterest stock. The average target among analysts is $40, up from $34.22. Some of the most bullish analysts are from JPMorgan and Wolf Research who have an overweight and outperform rating. 

Read more: Top stocks forecasts ahead of earnings: Toast, Pinterest, Affirm, DraftKings

Pinterest stock price analysis

PINS stock chart | Source: TradingView

The daily chart shows that the PINS share price has rebounded in the past few months, moving from a low of $23.72 in April to a high of $35.4 this month. 

Notably, the stock is about to form a golden cross pattern, which happens when the 50-day and 200-day moving averages are about to cross each other. This cross is one of the most bullish patterns in technical analysis, and is happening as it remains at the 50% Fibonacci Retracement level. 

Therefore, the Pinterest stock price will likely have a bullish breakout, with the next point to watch being the psychological point at $40. 

The post Is Pinterest stock a good buy as the golden cross pattern nears? appeared first on Invezz