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ARTERIS INC

Arteris

Arteris Inc is a provider of semiconductor system IP, including interconnect and other intellectual property, (collectively, System IP) technology. Its IP technology manages the on-chip communications and IP block deployments in System-on-Chip (SoC) semiconductors and systems of chiplets. Its proprietary System IP solutions achieve this by connecting client IP blocks such as processors, memories, artificial intelligence/machine learning (AI/ML) accelerators, graphics subsystems, safety and security, and other input/output subsystems (I/Os) via multiple Network-on-Chips (NoCs). The company operates in Americas, Asia Pacific and Europe, Middle East, out of which it derives maximum profit from Asia Pacific.

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Billionaire investor Mark Cuban is pushing back against venture capitalist Chamath Palihapitiya&#8217;s proposal to overhaul the Bureau of Labor Statistics' non-farm payrolls (NFP) report, calling out its impracticality. 
What Happened: On Sunday, in a post on X, Cuban replied to Palihapitiya&#8217;s plan for fundamentally altering the way the Bureau of Labor Statistics collects and reports non-farm payroll data. 
&#8220;Non-Farm Payrolls are total garbage,&#8221; Palihapitiya said, noting the number of revisions that have taken place &#8220;in both directions&#8221; over the years, while making his case that the Bureau wasn&#8217;t so much &#8220;conspiratorial&#8221; as it was &#8220;inadequate&#8221; for a dynamic economy like the United States.
See Also: <a href="https://www.benzinga.com/markets/equities/25/08/46809585/fed-interest-rates-trump-powell-jobs-data-wall-street">Fed Stays Put On Rates, But Jobs Report Signals It May Regret It: This Week In Markets</a>
&#8220;There needs to be a new, oracle-like data provider for this critical information,&#8221; Palihapitiya said, while arguing that President Donald Trump was right to fire Erika McEntarfer, the commissioner of the Bureau of Labor Statistics, who he says, led a vital U.S. economic function in an &#8220;unpredictable, haphazard and sloppy way.&#8221;
Cuban fired back, asking, &#8220;Did you even read what you wrote?&#8221; while highlighting the impracticality of an &#8220;Oracle-like data provider.&#8221; 
&#8220;Who is gonna pay for the implementations?&#8221; he asked, before making a pointed jab, saying, &#8220;get off your knees Chamath.&#8221;
Palihapitiya has since responded to Cuban&#8217;s concerns, explaining exactly how he would go about implementing something like this with a four-step plan.
He proposed requiring all payroll providers to upload standardized data, running a model to flag errors, and then publishing the information in real time, before asking Cuban to share what he would do differently.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No need to get chippy. Here is what I would do: 1) require all payroll providers (we know who all of them are because they also have to do withholding etc) to upload a flat file to an endpoint 2) run a model against uploads to look for any potential errors otherwise chop the…
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1951751251659727113?ref_src=twsrc%5Etfw">August 2, 2025</a></blockquote>
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Why It Matters: The July Jobs report by the Bureau of Labor Statistics, released on Friday, disappointed economists and experts, with payroll growth of 73,000, which fell short of estimates at 110,000. 
Besides this, there were <a href="https://www.benzinga.com/markets/economic-data/25/08/46792479/july-nonfarm-payrolls-trump-powell-labor-market">two downward revisions</a> for May and June, which now show growth of just 19,000 and 14,000, respectively, down from the initial estimates of 144,000 and 147,000.
This has since led to Trump dismissing McEntarfer, the Commissioner of the&nbsp;Bureau of Labor Statistics, whom he has accused of <a href="https://www.benzinga.com/markets/macro-economic-events/25/08/46818659/fired-labor-bureau-commissioner-speaks-out-after-trump-firing-over-job-numbers">manipulating employment data</a> for political purposes.
Photo Courtesy: Kathy Hutchins on Shutterstock.com
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/08/46817802/jim-cramer-has-blunt-message-for-fed-chair-powell-after-july-job-numbers-tanked">Jim Cramer Has Blunt Message for Fed Chair Powell After July Job Numbers Tanked</a></li>
</ul>

News

Economics

Mark Cuban Swipes At Chamath Palihapitiya's 'Oracle-Like Data Provider' Plan To Fix Non-Farm Payrolls, SPAC King Hits Back: 'No Need To Get Chippy'

The statue of Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) legendary creator, Satoshi Nakamoto, which was reported stolen in Switzerland, was found tossed into a lake on Sunday.
What Happened:&nbsp;The statue, famous for its &#8220;disappearing&#8221; effect, was found by municipal workers from Lugano city, according to Satoshigallery, the designer of the statue. 
Visuals showed workers recovering the damaged statue from the lake that flanked the Parco&nbsp;Ciani park in Lugano, where it was installed last year. Satoshigallery had promised a reward of 0.1 BTC, worth $11,472 at current prices, for the statue&#8217;s recovery. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We want to thank the Municipality of Lugano <a href="https://twitter.com/luganomycity?ref_src=twsrc%5Etfw">@luganomycity</a> for helping us to recover the statue that was thrown into the lake. &#x1f64f;&#x1f3fb; <a href="https://t.co/UyKhyBvt1m">https://t.co/UyKhyBvt1m</a> <a href="https://t.co/qaHFWXIHRs">pic.twitter.com/qaHFWXIHRs</a>
&mdash; Satoshigallery (@satoshigallery) <a href="https://twitter.com/satoshigallery/status/1951983196255506619?ref_src=twsrc%5Etfw">August 3, 2025</a></blockquote>
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The condition of the statue enraged Bitcoiners, with a user, Bitcoin Morfeo, calling it &#8220;an absolute disgrace.&#8221;
Noted Bitcoin technologist Jameson Lopp also voiced their disgust, stating, &#8220;You can destroy a statue. But you can&#8217;t destroy an idea.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You can destroy a statue. But you can&#39;t destroy an idea. <a href="https://t.co/uduor27ukD">https://t.co/uduor27ukD</a>
&mdash; Jameson Lopp (@lopp) <a href="https://twitter.com/lopp/status/1951989727122338187?ref_src=twsrc%5Etfw">August 3, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46713430/bitcoin-creator-satoshi-nakamoto-once-said-he-had-no-time-to-convince-non-believers-why-coinbase-ceo-brought-it-up-after-15-years">Bitcoin Creator Satoshi Nakamoto Once Said He Had No Time To &#8216;Convince&#8217; Non-Believers: Why Coinbase CEO Brought It Up After 15 Years</a>
Why It Matters:&nbsp;The statue honors the anonymity of Nakamoto by appearing transparent from the front and changing the view based on the angle it is viewed. Like other statues of the mysterious personality, it <a href="https://www.benzinga.com/general/education/25/01/42789566/happy-birthday-bitcoin-16-fun-facts-about-leading-cryptocurrency">became a symbol </a>of Bitcoin&#8217;s decentralized origins and ethos.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Statue of Satoshi Nakamoto Where you can see it: &#x1f1e8;&#x1f1ed;Lugano, Switzerland: <a href="https://t.co/UlxwZc5A2Q">https://t.co/UlxwZc5A2Q</a> &#x1f1f8;&#x1f1fb;Bitcoin Beach, El Salvador: <a href="https://t.co/IpRg1R372j">https://t.co/IpRg1R372j</a> We are committed to spread bitcoin culture around the world since 2012. Next week we will present the third statue…in… <a href="https://t.co/k12oHKS6NL">pic.twitter.com/k12oHKS6NL</a>
&mdash; Satoshigallery (@satoshigallery) <a href="https://twitter.com/satoshigallery/status/1912769347111600252?ref_src=twsrc%5Etfw">April 17, 2025</a></blockquote>
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Satoshi, who authored Bitcoin&#8217;s whitepaper, has been a figure of intrigue and speculation. As of this writing, the wallet linked to Satoshi holds $125.85 billion worth of Bitcoin, according to on-chain analytics firm Arkham, <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46408230/bitcoin-creator-satoshi-nakamotos-net-worth-surges-to-128-billion-mysterious-figure-challenges-warren-buffetts-spot-among-the-wealthiest">more than the total wealth</a> of computer tycoon and one of the world&#8217;s wealthiest individuals, Bill Gates.
Price Action: At the time of writing, BTC was trading at $114,725, up 0.93% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. 
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46817622/analysts-say-127-3-trillion-liquidity-surge-could-be-rocket-fuel-for-bitcoin">Analysts Say $127.3 Trillion Liquidity Surge Could Be Rocket Fuel for Bitcoin</a></li>
</ul>
Photo Courtesy: Szabolcs Magyar On Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Satoshi Nakamoto's Statue Smashed, Dumped In Swiss Lake — 'Absolute Disgrace,' Says Bitcoiner

Accenture Plc. CEO Julie Sweet says the lesson that steered her career arrived on a dark drive home from a speech contest when she was 15.
What Happened: Sweet recalled that after she complained about losing to "the daughter of the president" of the local Lions Club, her father replied, "First of all, Julie, you're never going to be the daughter of the president of the Lions Club. That's not the family you were born into… and I believe you can do anything, but you have to be so much better than anyone else that they have to give it to you. Tonight, you weren't that much better."
Sweet, who grew up in Tustin, California, later summed that pep talk from her father up as, "You should be fearless, but you have to be ready."
The Columbia University law graduate <a href="https://fortune.com/article/accenture-ceo-julie-sweet-global-500-ai/">tells</a> Fortune the episode taught her brutal self-honesty and constant adaptation, skills she first honed a year earlier as a teenage reservations clerk who "learned to change, to grow very, very fast."
See Also: <a href="https://www.benzinga.com/news/entertainment/25/08/46814654/adam-sandler-says-he-didnt-want-to-bug-eminem-for-happy-gilmore-2-cameo-but-the-rap-icon-said-yes-anyway-heres-how-its-faring-for-netflix">Adam Sandler Says He &#8216;Didn&#8217;t Want To Bug&#8217; Eminem For Happy Gilmore 2 Cameo, But The Rap Icon Said Yes Anyway: Here&#8217;s How It&#8217;s Faring For Netflix</a>
Those habits followed her from partner at Cravath Swaine &amp; Moore, which was among the oldest of the elite law firms in Manhattan in the 90s, to Accenture's general counsel in 2010, North America chief in 2015 and global CEO in 2019, roles that required pivoting from law to cloud deals and most recently, generative AI services.
Why It Matters: Under Sweet, Accenture has spent $6.6 billion on acquisitions in two years and boosted its AI bookings to $1.4 billion, prompting a higher revenue outlook in March, reports Reuters.
She frames those moves as the same discipline her father demanded of being "so much better" that clients are forced to choose you — a refrain <a href="https://www.benzinga.com/personal-finance/25/04/44658480/accenture-boss-julie-sweets-simple-question-determines-who-gets-hired-and-its-not-about-ai-skills">she's echoed in a podcast</a> about spotting talent and raising the bar.
Adaptability, Sweet notes, is hardly her monopoly. JPMorgan Chase CEO Jamie Dimon warns that "<a href="https://www.benzinga.com/news/23/03/31385307/3-quotes-from-jpmorgan-chase-ceo-jamie-dimon-the-biggest-mistake-we-could-make-is-being-complacent">the biggest mistake we could make</a> is being complacent," a line he repeats when urging bankers to keep learning. Microsoft's Satya Nadella <a href="https://www.benzinga.com/general/24/04/38412353/satya-nadella-says-the-biggest-lesson-hes-learned-in-32-years-at-microsoft-is-doing-things-that-are">calls his north star</a> "doing things that are going to be relevant tomorrow," crediting constant reinvention for three decades of growth.
Photo Courtesy: Nicoleta Ionescu on Shutterstock.com
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/08/46813893/tim-cook-says-apple-must-do-this-as-he-compares-ai-to-internet-smartphone-revolutions">Tim Cook Says &#8216;Apple Must Do This,&#8217; As He Compares AI To Internet, Smartphone Revolutions</a></li>
</ul>

Management

Success Stories

Accenture CEO Julie Sweet Once Complained To Her Father After Losing A Speech Contest, What Her Dad Said Next Would Shape Her Success

The Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) faces another labor disruption as approximately 3,200 defense workers in Missouri and Illinois will begin striking Monday after rejecting the aerospace giant&#8217;s latest four-year contract proposal.
<h2 class="wp-block-heading">Union Rejects Latest Contract Terms</h2>
The machinists&#8217; union representing workers in Boeing&#8217;s St. Louis-area defense operations voted Sunday to reject the company&#8217;s contract offer, scheduling the work stoppage to begin at midnight Monday, according to the International Association of Machinists and Aerospace Workers union.
Workers had operated without a contract for the past week as negotiations stalled over work schedules and benefits.
&#8220;Members have spoken loud and clear&#8221; for a &#8220;contract that reflects their skill, dedication, and the critical role they play in our nation&#8217;s defense,&#8221; union representative Tom Boelling said in a statement.
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/08/46815464/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-76">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a>
<h2 class="wp-block-heading">Strike Impact on Defense Operations</h2>
The work stoppage affects Boeing&#8217;s military business, which produces advanced fighter jets, including the F-15 and F/A-18, as well as critical components of the munitions supply chain. Boeing reported stable second-quarter performance in its defense segment amid surging Pentagon demand for <a href="https://www.benzinga.com/markets/earnings/25/07/46689269/boeing-commercial-airplane-revenue-recovers-backlog-grows-to-619-billion">missiles and weaponry from allied countries</a>.
Boeing did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
<h2 class="wp-block-heading">Smaller Scale Than 2024 Pacific Northwest Strike</h2>
The Missouri-Illinois strike remains significantly smaller than Boeing&#8217;s massive 2024 Pacific Northwest labor dispute, which pulled <a href="https://www.benzinga.com/news/24/09/40853982/boeings-stock-falls-as-33-000-aircraft-assembly-workers-strike">over 33,000 employees</a> from 737 MAX production lines. That nearly eight-week showdown disrupted the company&#8217;s profit powerhouse before workers secured a 38% raise over a four-year period.
<h2 class="wp-block-heading">Financial Context Amid Recovery Efforts</h2>
Boeing&#8217;s defense, space and security division has shown improvement this year following program overruns and crises, including Starliner spacecraft issues that stranded NASA astronauts. The division&#8217;s outlook brightened with new Pentagon satellite contracts and agreements for the Air Force&#8217;s <a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46735216/analysts-confident-boeing-is-gaining-altitude-despite-q2-loss">next-generation fighter program</a>.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/08/46817700/ex-trump-lawyer-says-trump-could-set-sights-on-musks-billions-it-bothers-him-that-he-is-the-richest-man">Ex-Trump Lawyer Says Trump Could Set Sights on Musk&#8217;s Billions: &#8216;It Bothers Him That He Is the Richest Man&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Equities

Boeing Faces Strike As 3,200 Defense Workers In Missouri, Illinois Reject New Contract Offer

Arthur Hayes, Chief Investment Officer of&nbsp;Maelstrom&nbsp;and co-founder of&nbsp;BitMEX,&nbsp;anticipated a sharp correction in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) on Saturday due to potential macroeconomic jitters.
What Happened: In an X post, Hayes believed&nbsp;that a speculated U.S. tariff bill in the third quarter, coupled with&nbsp;the release of the lower-than-expected July jobs data, is likely to exert increased macroeconomic pressure. 
&#8220;No major econ is creating enough credit fast enough to boost nominal GDP,&#8221; Hayes noted. &#8220;So BTC tests $100,000, ETH tests $3,000.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Y? US Tariff bill coming due in 3q … at least the mrkt believes that after NFP print. No major econ is creating enough credit fast enough to boost nominal gdp. So <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> tests $100k, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> tests $3k. Come see my <a href="https://twitter.com/WebX_Asia?ref_src=twsrc%5Etfw">@WebX_Asia</a> Tokyo keynote Aug 25 for more info. Back to the beach. <a href="https://t.co/zuHlwgQKC7">https://t.co/zuHlwgQKC7</a>
&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1951510939469292023?ref_src=twsrc%5Etfw">August 2, 2025</a></blockquote>
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Hayes, a well-known economic commentator and cryptocurrency advocate, sold over $8 million in ETH and a significant amount of Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) meme coin, citing the impending pullback as the reason.
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/24/12/42511716/bitcoin-as-neutral-reserve-asset-could-overhaul-financial-system-says-analyst" target="_blank" rel="noreferrer noopener">Bitcoin As &#8216;Neutral Reserve Asset&#8217; Could Overhaul Financial System, Says Analyst</a>
Why It Matters: The prediction comes in the wake of significant macroeconomic developments. July&#8217;s <a href="https://www.benzinga.com/markets/equities/25/08/46809585/fed-interest-rates-trump-powell-jobs-data-wall-street">labor market data suggested early signs of weakness</a>, with only 73,000 jobs added, well below the expected 110,000. Moreover, the Personal Consumption Expenditures price index, considered the Federal Reserve&#8217;s preferred inflation gauge, jumped to 2.6% year-over-year in June from 2.3% in May, beating the 2.5% forecast.
Meanwhile, the U.S. initiated a <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46781583/trump-slaps-35-tariff-on-canadian-goods-hits-68-other-nations-with-new-trade-war-amid-fentanyl-security-china-tensions">new round of tariffs</a> on 69 countries, adding to the growing concerns about the negative risks associated with President Donald Trump&#8216;s trade policies.
Hayes&#8217; cryptocurrency predictions, particularly those regarding Bitcoin, rely on fiat liquidity expansion. He advises traders to understand the implications of money printing. He previously projected $250,000 year-end price target for BTC and $1 million by 2028.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $114,865.09, up 1.34% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. ETH was trading at $3,555, up 3.46%.
Photo Courtesy: artjazz on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/08/46815845/decade-old-bitcoin-wallet-emptied-millions-in-btc-moved-amid-market-correction" target="_blank" rel="noreferrer noopener">Decade-Old Bitcoin Wallet Emptied, Millions in BTC Moved Amid Market Correction</a></li>
</ul>

$ETH

$PEPE

Arthur Hayes Expects Bitcoin's Pullback To $100,000, Ethereum To Test $3,000 On Trump Tariffs-Induced Headwinds

Sen. Elizabeth Warren (D-Mass.) has blasted President Donald Trump over sweeping <a href="https://www.benzinga.com/news/politics/25/08/46814005/trump-backed-spending-bill-forces-cpb-shutdown-after-60-years-of-public-broadcasting">cuts to public broadcasting</a> and rising consumer prices, tying both to his aggressive trade and budget policies.
<h2 class="wp-block-heading">CPB Shutdown Follows Trump-Backed Spending Cuts</h2>
The Corporation for Public Broadcasting announced Friday it will begin shutting down operations after Congress, under Trump's direction, eliminated <a href="https://www.benzinga.com/news/politics/25/07/46334514/bernie-sanders-says-in-the-us-presidents-dont-censor-the-media-slams-trump-administrations-move-to-cut-1-1-billion-from-pbs-another-step-toward-authoritarianism">$1.1 billion in federal funding</a>.
The CPB will lay off most staff by Sept. 30, with a small team staying through January 2026.
Warren responded sharply to the development on X, formerly Twitter, saying, "Instead of lowering grocery costs, Donald Trump is trying to cancel Big Bird," referencing PBS's iconic children's programming.
See Also:&nbsp;<a href="https://benzinga.com/news/politics/25/07/46314088/trump-slams-democrats-over-inflation-narrative-says-he-cut-costs-more-than-any-president-in-history" target="_blank" rel="noreferrer noopener">Trump Slams Democrats Over Inflation Narrative, Says He Cut Costs ‘More Than Any President In History'</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Instead of lowering grocery costs, Donald Trump is trying to cancel Big Bird. <a href="https://t.co/ASGMarP6wI">https://t.co/ASGMarP6wI</a>
&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1952099458616893885?ref_src=twsrc%5Etfw">August 3, 2025</a></blockquote>
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Last month, <a href="https://www.benzinga.com/news/politics/25/07/46433868/elizabeth-warren-slams-trumps-plan-to-gut-sesame-street-funding-if-he-gets-away-with-this-next-time">Warren also criticized</a> the Republican-led effort to slash billions in approved federal spending, including funds for public broadcasting programs like Sesame Street and National Public Radio.
<h2 class="wp-block-heading">Warren Links Tariffs To Price Hikes And Corporate Profiteering</h2>
In July, Warren and fellow Democrats introduced the Price Gouging Prevention Act of 2025. The bill aimed to ban excessive price hikes and empower the Federal Trade Commission and state attorneys general to take action against companies abusing market power.
The legislation was introduced days after a report showed inflation climbing in June and as tariffs affecting dozens of countries, including U.S. trading partners, took effect, <a href="https://www.cnbc.com/2025/07/17/elizabeth-warren-targets-price-gouging-with-tariff-costs-inflation-up.html">reported</a> CNBC.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Elizabeth Warren Hits Out Trump Again, Says Instead Of Lowering Grocery Costs, He's Trying To 'Cancel' Big Bird

The July Jobs report by the Bureau of Labor Statistics, released on Friday, is raising concerns among economists, who warn that the latest data and sharp downward revisions point to a labor market that is losing momentum and potentially edging toward a recession.
What Happened: On Sunday, in a post on X, former Treasury Secretary Lawrence Summers said that the U.S. economy was &#8220;closer to stall speed than we thought,&#8221; citing the bleak figures published in the report. 
Besides the disappointing payroll growth of just 73,000 <a href="https://www.benzinga.com/markets/economic-data/25/08/46792479/july-nonfarm-payrolls-trump-powell-labor-market">during the month</a>, far short of the expected 110,000, Summers says &#8220;the big deal&#8221; is the downward revisions for May and June, which now show job growth of just 19,000 and 14,000, respectively, down from the initial estimates of 144,000 and 147,000.
See Also: <a href="https://www.benzinga.com/markets/economic-data/25/08/46816760/trumps-trade-deals-tariffs-the-tumbling-labor-market-and-more-this-week-in-economy">Trump&#8217;s Trade Deals, Tariffs, The Tumbling Labor Market And More: This Week In Economy</a>
&#8220;That means there is a real possibility that we&#8217;re in a stall speed kind of economy,&#8221; Summers says, warning that &#8220;we could tip over into recession&#8221;
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I think the Friday jobs report told us that the economy is closer to stall speed than we thought. The big deal is the downward revision for the two months before that. That means there is a real possibility that we&#39;re in a stall speed kind of economy, which means we could tip…
&mdash; Lawrence H. Summers (@LHSummers) <a href="https://twitter.com/LHSummers/status/1952002638255386897?ref_src=twsrc%5Etfw">August 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
University of Michigan professor and former chief economist at the U.S. Department of Labor, Betsey Stevenson, tied the weakness in the nation&#8217;s labor market to the administration&#8217;s recent policy decisions.
She says, &#8220;The Trump administration has actively sought to reduce education, government, construction, and leisure and hospitality,&#8221; and asks why it is so surprising that the &#8220;policies worked as expected?&#8221;
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Trump administration has actively sought to reduce education, government, construction, and leisure and hospitality. The first two directly, the last three through massive reductions in the immigrant labor force. And now he's angry that his policies worked as expected? <a href="https://t.co/0tIuZRJaaY">https://t.co/0tIuZRJaaY</a>
&mdash; Betsey Stevenson (@BetseyStevenson) <a href="https://twitter.com/BetseyStevenson/status/1951380663493427306?ref_src=twsrc%5Etfw">August 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Danish economist Lars Christensen was more blunt in his take, saying that &#8220;The U.S. employment report for July 2025 should be setting off alarm bells in the White House,&#8221; while adding that the Bureau&#8217;s admission that revisions were &#8220;larger than normal&#8221; was a rare sign.
Christensen acknowledges that the figures themselves don&#8217;t indicate a recession, but calls it a sign of an economy &#8220;that has lost its breath.&#8221;
He says, &#8220;The slowdown is occurring before the full effects of tariff increases have hit. When businesses truly feel the effects, we should expect further weakening.&#8221;
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The U.S. employment report for July 2025 should be setting off alarm bells in the White House. The BLS delivered numbers Friday that not only show weak job creation – they revealed that for months we&#39;ve been living under an illusion about the labor market&#39;s strength. July:… <a href="https://t.co/DqzwIZL2eO">pic.twitter.com/DqzwIZL2eO</a>
&mdash; Lars Christensen (@MaMoMVPY) <a href="https://twitter.com/MaMoMVPY/status/1951272599796768818?ref_src=twsrc%5Etfw">August 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: President Donald Trump on Friday <a href="https://www.benzinga.com/markets/macro-economic-events/25/08/46818659/fired-labor-bureau-commissioner-speaks-out-after-trump-firing-over-job-numbers">ordered the dismissal</a> of Erika McEntarfer, Commissioner of the Bureau of Labor Statistics, following the release of the July jobs report. 
Trump accused McEntarfer of manipulating employment data for political purposes, but failed to provide any evidence to support this claim.
The deepening economic woes have led <a href="https://www.benzinga.com/news/politics/25/08/46817792/trumps-disapproval-rating-soars-amid-economic-woes-epstein-drama">Trump&#8217;s disapproval ratings</a> to soar to a new high of 52.1%, up from 51.5% the prior month. 
Photo Courtesy: FOTOGRIN on Shutterstock.com
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</ul>

Economists Warn US Close To 'Stall Speed' And Could 'Tip Over Into Recession' On Disappointing Jobs Report

Leading cryptocurrencies gained alongside stock futures on Sunday despite lingering concerns over President Donald Trump&#8217;s tariff moves.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 9:15 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.52%</td>
<td>$114,739.26</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+3.85%</td>
<td>$3,544.28</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+4.25%</td>
<td>$0.2019</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin hit the upper reaches of $114,000 overnight, although trading volume dipped substantially. The recovery came after days of contraction, with the apex cryptocurrency shedding more than 4% of its value in a week.
Ethereum reentered $3,500, capping a volatile week that saw the second-largest cryptocurrency tumble 8%.
August has historically been a corrective month for the market, with both Bitcoin and Ethereum closing lower in the last four years.
The rally hit bearish traders hard, with over $100 million in shorts liquidated over the last 24 hours.
Bitcoin's open interest fell by 0.17% in the last 24 hours.&nbsp; Nearly 60% of traders on Binance Futures with open Bitcoin positions were leaning bullish as of this writing, according to the Long/Short ratio.
The "greed" sentiment strengthened sharply in the market, according to the Crypto Fear &amp; Greed Index.
Top Gainers (24 Hours)
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 9:15 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ethena (ENA)&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+16.66%</td>
<td>$0.6168</td>
</tr>
<tr>
<td>Conflux (CFX)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+14.33%</td>
<td>$0.2177</td>
</tr>
<tr>
<td>Stellar (XLM)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+12.75%</td>
<td>$0.4163 </td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.71 trillion, gaining 2.70% in the last 24 hours.
Stock futures edged higher Sunday night. The Dow Jones Industrial Average Futures rose 48 points, or 0.11%, as of 8:44 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 climbed 0.16%, while Nasdaq 100 Futures added 0.21%.
Tariff concerns weighed on investors&#8217; minds after Trump imposed a new wave of <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46781583/trump-slaps-35-tariff-on-canadian-goods-hits-68-other-nations-with-new-trade-war-amid-fentanyl-security-china-tensions">import duties on major trading partners</a> via executive order earlier this week.
Major averages like the S&amp;P 500 and Nasdaq Composite closed the week in the red, precipitated by the <a href="https://www.benzinga.com/markets/equities/25/08/46809585/fed-interest-rates-trump-powell-jobs-data-wall-street">worse-than-expected July jobs report</a>.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst and trader Ali Martinez spotted a buy signal on Bitcoin's 12-hour chart from the TD Sequential indicator
The TD Sequential indicator is a technical analysis tool that helps traders identify potential price reversals and exhaustion patterns.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The TD Sequential indicator just flashed a buy signal on Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> 12-hour chart! <a href="https://t.co/kGxt9nWXYF">pic.twitter.com/kGxt9nWXYF</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1952150740459266093?ref_src=twsrc%5Etfw">August 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Another popular cryptocurrency analyst, Michaël van de Poppe, predicted another consolidative week for cryptocurrency, despite the overnight rip.
"General lesson as we&#8217;re approaching a super bullish Q3 and Q4: buy the dip in August, hold into Q4 and be happy on your altcoins," the analyst said.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A slight push upwards at the end of the week, which is great. However, we&#39;ve just seen a substantially corrective week on the markets. Is that strange? No, of course not, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> has gone up by $1,600 in a matter of weeks, so it&#39;s quite normal to calm down before there&#39;s another…
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1952105072935965018?ref_src=twsrc%5Etfw">August 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: Dennis Diatel on Shutterstock.com
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$DOGE

Bitcoin Rises Despite Trump's Tariff Moves; Ethereum, Dogecoin Also Gain: Analyst Advises To 'Buy The Dip' In August, Hold Until This Time

Erika McEntarfer, the Commissioner of the Bureau of Labor Statistics, expressed gratitude for her role and the dedication of her colleagues in a social media post over the weekend. 
What Happened: McEntarfer stated on Bluesky, &#8220;It has been the honor of my life to serve as Commissioner of BLS alongside the many dedicated civil servants tasked with measuring a vast and dynamic economy. It is vital and important work and I thank them for their service to this nation.&#8221; This statement comes amid recent political turbulence surrounding her position.
On Friday, President Donald Trump <a href="https://www.benzinga.com/news/politics/25/08/46813901/trump-fires-bureau-of-labor-statistics-chief-erika-mcentarfer-after-weak-jobs-report-directed-my-team-to-fire-this-biden-political-appointee">ordered McEntarfer&#8217;s dismissal</a> following a lackluster jobs report. Trump accused her of manipulating employment data for political reasons, though he provided no evidence. The President&#8217;s directive came shortly after the Bureau released disappointing employment figures for July, which included significant downward revisions for May and June.
<figure class="wp-block-embed is-type-rich is-provider-bluesky-social wp-block-embed-bluesky-social"> 
<div class="wp-block-embed__wrapper">
<blockquote class="bluesky-embed" data-bluesky-uri="at://did:plc:jlmrkyytarxtjzq5uqxumqxo/app.bsky.feed.post/3lvf3yddtrk27" data-bluesky-cid="bafyreifzwy65k6vb6jzwinvbdan2n2umcfkwhc74jagwdlxzeujeuydi64">It has been the honor of my life to serve as Commissioner of BLS alongside the many dedicated civil servants tasked with measuring a vast and dynamic economy. It is vital and important work and I thank them for their service to this nation.
&mdash; <a href="https://bsky.app/profile/did:plc:jlmrkyytarxtjzq5uqxumqxo?ref_src=embed">Erika McEntarfer (@erikamcentarfer.bsky.social)</a> <a href="https://bsky.app/profile/did:plc:jlmrkyytarxtjzq5uqxumqxo/post/3lvf3yddtrk27?ref_src=embed">2025-08-02T02:18:13.556Z</a></blockquote>
<script async src="https://embed.bsky.app/static/embed.js" charset="utf-8"></script></div>
</figure>
In response to the firing, Kevin Hassett, the White House economic adviser, <a href="https://www.benzinga.com/news/politics/25/08/46817595/hassett-backs-dismissal-of-bls-chief-says-trumps-own-people-would-bring-more-transparent-and-reliable-jobs-reports">supported Trump&#8217;s decision</a>. He suggested that Trump&#8217;s appointees would deliver more transparent and reliable jobs reports. The political climate surrounding McEntarfer&#8217;s dismissal has been tense, with accusations of data manipulation being a focal point.
See Also: <a href="https://benzinga.com/pressreleases/25/08/g46818400/how-ai-digital-twins-and-cobots-are-shaping-the-future-of-manufacturing-by-2030" target="_blank" rel="noreferrer noopener">How AI Digital Twins and Cobots Are Shaping the Future of Manufacturing by 2030</a>
Why It Matters: July's jobs report <a href="https://www.benzinga.com/markets/equities/25/08/46809585/fed-interest-rates-trump-powell-jobs-data-wall-street">fell short of expectations</a>, with only 73,000 positions added versus the anticipated 110,000. May and June figures were also sharply revised down, cutting a combined 258,000 jobs from previous estimates.
The removal of McEntarfer highlights ongoing political tensions over economic data reporting. The BLS plays a critical role in providing essential data that influences economic policy and market decisions. The controversy surrounding her dismissal underscores the importance of maintaining the integrity and transparency of economic data.
The recent jobs report, which led to McEntarfer&#8217;s firing, was anticipated to <a href="https://www.benzinga.com/markets/economic-data/25/07/46775334/fridays-jobs-data-could-unleash-a-dollar-short-squeeze-not-seen-in-decades">potentially trigger</a> a dollar short squeeze. This situation has drawn attention to the broader economic implications of the report and the political dynamics at play.
Photo Courtesy: 3enjipix on Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Fired Labor Bureau Commissioner Speaks Out After Trump Firing Over Job Numbers

Personal finance expert Dave Ramsey isn't sugarcoating it. In a recent <a href="https://x.com/DaveRamsey/status/1950218151053971858">post on X</a> and segment on &#8220;The Ramsey Show,&#8221; he laid out exactly why so many Americans are struggling financially.
According to Ramsey, the problem isn't your paycheck. &#8220;You're not broke because you don't make enough. You're broke because you give your income to everyone else,&#8221; he said.
<h2 class="wp-block-heading">Debt Payments Are Eating Your Income</h2>
Ramsey pointed to credit card bills, <a href="https://www.benzinga.com/25/05/45545468/average-new-car-loan-payment-is-750-and-costs-are-rising-suze-orman-urges-families-to-consider-if-they-could-get-by-with-one-less-car">car payments</a> and student loans as the main reasons people are stuck <a href="https://www.benzinga.com/personal-finance/management/25/06/45941152/a-millennial-living-paycheck-to-paycheck-with-100k-in-debt-says-i-should-be-freaking-out-but-i-just-dont-have-the-energy-anymore">living paycheck to paycheck</a>. &#8220;Every payment is money that you could be using to build wealth for yourself instead of making everyone else rich,&#8221; he wrote.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You're not broke because you don't make enough. You're broke because you give your income to everyone else. Credit cards, car payments, student loans&#8230; every payment is money that you could be using to build wealth for yourself instead of making everyone else rich. Here's how… <a href="https://t.co/KvfVZ6e36u">pic.twitter.com/KvfVZ6e36u</a>
&mdash; Dave Ramsey (@DaveRamsey) <a href="https://twitter.com/DaveRamsey/status/1950218151053971858?ref_src=twsrc%5Etfw">July 29, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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In the video clip, Ramsey let loose. &#8220;<a href="https://www.benzinga.com/personal-finance/financial-advisors/25/06/46159347/us-credit-card-debt-hits-1-18-trillion-as-americans-downplay-what-they-owe">Credit cards</a>, stupid. Student loans, stupid. Car payments, stupid on steroids,&#8221; he said. He also criticized homeowners for borrowing against their homes to upgrade things like kitchen counters. &#8220;Somebody ought to smack you. That&#8217;s stupid.&#8221;
Ramsey emphasized that your income is your most powerful financial tool. But if you give it away every month, you're giving up your future. &#8220;When you give your income to someone else, you don&#8217;t have it anymore. And when you give your income away, you have given up your economic future all for crap,&#8221; he said.
<h2 class="wp-block-heading">Ramsey's 3-Step Plan to Break the Cycle</h2>
Ramsey offered a simple but strict plan to stop the bleeding. First, he said to make a zero-based budget and &#8220;tell every dollar where to go on purpose.&#8221; Next, he urged people to cut their debt aggressively, using what he calls the <a href="https://www.benzinga.com/25/05/45345632/ramit-sethi-breaks-down-debt-snowball-vs-debt-avalanche-method-the-avalanche-method-is-mathematically-the-best-choice">debt snowball method</a>. Finally, he advised against financing anything and said to &#8220;pay cash for the things you buy.&#8221;
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He said most millionaires he interviews did not inherit their wealth. &#8220;Less than 10% of them inherited the money. They did it by saving and investing their income. They did not give their income to Best Buy.&#8221;
Ramsey also called out a lack of critical thinking around money. &#8220;We&#8217;re fat and we&#8217;re broke because we have no ability to do critical thought and we don&#8217;t stop and look at what we&#8217;re putting into our lives,&#8221; he said.
He also highlighted how common it is for people to take on massive car loans that weigh down their finances. &#8220;This is nuts. It&#8217;s nuts. It&#8217;s completely out of control,&#8221; he said. &#8220;I mean, the number of people I&#8217;ve talked to just today with $25,000 and $30,000 owed on their stupid car. It&#8217;s a car. Good God, it&#8217;s a car.&#8221;
He concluded with one message: Think. &#8220;Think, think, think. Seriously.&#8221;
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Personal Finance

Dave Ramsey Says, 'You're Not Broke Because You Don't Make Enough. You're Broke Because You Give Your Income To Everyone Else'

President Donald Trump recently suggested that revenue from tariffs could be returned to Americans in the form of <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46653477/trump-mulls-little-rebate-for-americans-funded-by-tariff-revenue-but-heres-the-big-thing-he-wants-to-do-first">rebate checks</a>. He floated the idea as a way to give back to "people of a certain income level," noting that the U.S. is generating "so much money" from tariffs.
The concept drew attention, especially as Trump said that tariffs once funded the federal government entirely — before the income tax was permanently established in 1913. Tariffs are taxes placed on imported goods, and while they're paid by importers, the added costs can trickle down to consumers.
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<h2 class="wp-block-heading">O'Leary Pushes Back: "Pay Down the Debt"</h2>
But Kevin O'Leary, investor and chair of O'Leary Ventures, disagrees with using tariff revenue this way. "No. I tell you the idea I like — and I think every taxpayer likes better than this idea — use any excess capital to reduce the national debt," O'Leary told <a href="https://www.youtube.com/watch?v=hi0FBRQlAz0">Fox News</a>.
O'Leary emphasized that America's growing debt isn&#8217;t just a current burden — it's a long-term risk for future generations. With interest rates elevated, the cost of servicing the national debt increases, and a large portion of that debt is held by foreign entities.
"Let's use any excess cash anywhere to get to that balanced budget and start paying down that debt," O'Leary urged.
<h2 class="wp-block-heading">A Debate Within the GOP?</h2>
<a href="https://www.benzinga.com/news/topics/25/07/46699454/kevin-oleary-says-the-tariff-drama-is-settling-and-the-markets-calming-because-trump-found-the-loophole">O'Leary</a> hinted that discussions about what to do with tariff revenue may be happening behind the scenes within Republican leadership. "Within the administration itself, this is a big debate going on," he said, suggesting there's pressure internally to shift attention toward fiscal responsibility.
Trending: $100k+ in investable assets? <a href="https://www.benzinga.com/money/wiseradvisor-retirement-planning">Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes</a> – no cost, no obligation.
He praised current efforts to lower tax rates and increase U.S. competitiveness but warned that the cost — an estimated $3 trillion addition to the national debt — means America now needs to focus on balancing the budget.
<h2 class="wp-block-heading">Alternative Ideas for Reducing Debt</h2>
In addition to using tariff revenue, O'Leary proposed another strategy: generating income from domestic energy resources. For example, he pointed to the National Petroleum Reserve in Alaska — a large government-owned oil reserve — as a potential source of revenue.
"We could open up the NIR in Alaska and put a tariff on that oil like they do in Norway and just use it all for debt reduction," he suggested.
See Also: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $10.</a>
<h2 class="wp-block-heading">How This Could Affect Everyday Americans</h2>
O'Leary believes that reducing the national debt is critical for America's long-term financial health. He pointed out that when interest rates rise — or even remain high — the cost of servicing the debt increases. Much of that debt is held by foreign creditors, which he says makes the issue even more pressing.&nbsp;
Whether or not Trump's rebate idea gains traction, O'Leary's response highlights a broader debate about the best use of government revenue. For taxpayers, especially those nearing or in retirement, questions about the <a href="https://www.benzinga.com/news/education/25/07/46676015/want-to-help-pay-off-37-trillion-national-debt-government-accepts-venmo-paypal">national debt</a> are becoming harder to ignore.
Read Next: How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.
Image: Shutterstock

Kevin O'Leary Rejects Trump's Tariff Rebate Plan, Says Taxpayers Want To See The National Debt Paid Down

Gen Z's elder rung of 21- to 28-year-olds have been given the keys to drive the U.S. alcohol market. But to the concern and chagrin of the industry, they make up a miniscule percentile of total booze spending.
A <a href="https://www.wineenthusiast.com/culture/industry-news/why-gen-z-is-drinking-less/?srsltid=AfmBOoqdSGgrW67fl-bKavMIJ52PM6q8twWbBgIutZ3GNTtpHsT5bW6i">recent report</a> in Wine Enthusiast highlighted the discrepancy in how much Gen Z is contributing to alcohol sales compared to prior generations at the same age: According to <a href="https://media.rabobank.com/m/18086d3a9adee411/original/The-real-reasons-Generation-Z-is-drinking-less-alcohol.pdf">RaboBank</a>, Gen Z accounts for just 3.6% of alcohol sales in the U.S.
And while there's been a myriad of reasons being thrown around, from wellness to a preference for other, <a href="https://www.benzinga.com/content/46247108/gen-z-and-cannabis-blamed-for-this-companies-troubles">greener substances</a>, the most compelling argument based on RaboBank's report is that this generation would simply rather save cash than splurge on a crisp, dry Sauvignon Blanc.
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<h2 class="wp-block-heading">An Uncertain Economic Start</h2>
While an ever-looming threat of steep <a href="https://www.benzinga.com/government/regulations/25/03/44301835/trump-threatens-200-tariff-on-european-wine-alcohol-stocks-react">tariffs on wine</a> certainly aren't helping the situation, Wine Enthusiast emphasizes the greater picture is that Gen Z got off to a rough start: <a href="https://www.benzinga.com/real-estate/24/01/36701211/gen-z-navigates-housing-hustle-escaping-soaring-mortgage-rates-nearly-one-third-live-with-family-mem">soaring rents</a>, <a href="https://www.benzinga.com/trading-ideas/25/03/44226602/walmart-ceo-says-consumers-changing-spending-due-to-inflation-egg-prices-the-money-runs-out-before-the-month-is-gone-people-are-buying-smaller-pack-sizes">inflated grocery bills</a> and <a href="https://www.benzinga.com/25/04/44756318/shaken-not-settled-gen-z-workers-lose-confidence-as-economic-clouds-gather">stagnant wages</a> have created the worst financial launchpad in decades.
With these economic headwinds, Gen Z&#8217;s alcohol pullback was inevitable. And now, analysts are divided: Is this just a recession-era blip, or a paradigm shift in the $88 billion U.S. alcohol market&#8217;s future?
"When I was a kid tagging along with my family to wine country, tastings were often free or affordable," Alicia Marazzani, who lives less than an hour from California's wine country in Napa and Sonoma counties, told Wine Enthusiast. "Now each stop is like a full-on splurge. I almost never go because it's too expensive now."
Trending: $100k+ in investable assets? <a href="https://www.benzinga.com/money/wiseradvisor-retirement-planning">Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes</a> – no cost, no obligation.
"For me, and a lot of the people my age that I know, wine isn't something we see as an investment the way older generations sometimes did," Marazzani adds. "It's a luxury we reserve for special occasions.
Marazzani's misgivings track with the industry reality. Napa Valley tasting fees have surged from an average of $15 to $45 to $60 for basic offerings in the last few years, according to a 2024 <a href="https://business.cellarpass.com/blog/cellarpass-2024-consumer-survey-results-napa-valley">consumer survey</a> from leading wine tourism platform CellarPass.&nbsp;
<h2 class="wp-block-heading">Turnaround Imminent?</h2>
Rabobank&#8217;s report projects Gen Z&#8217;s alcohol spending will likely rise with future earnings — but there&#8217;s a catch. While Zoomers currently allocate the same percentage of income to booze as millennials, their thinner wallets mean fewer actual dollars flow to brewers and distillers.
<a href="https://www.benzinga.com/quote/BF-B">Brown-Forman</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>, BF.B)) — the spirits giant behind Jack Daniel&#8217;s, Woodford Reserve and Korbel Champagne Cellars — remains bullish on Gen Z&#8217;s long-term drinking potential despite the generation&#8217;s current spending pullback.
CEO Lawson Whiting in March waved off concerns about younger consumers&#8217; lackluster alcohol consumption: &#8220;They [Gen Z] just don&#8217;t have the money in their pockets to be able to do things," he said on the company's Q3 <a href="https://seekingalpha.com/article/4765024-brown-forman-corporation-bf-b-q3-2025-earnings-call-transcript">earnings call</a>. "I think some of the popular press is sort of overreading into Gen Z and what they are doing. I think that the Gen Z will come back."
See Also: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
The company&#8217;s internal data reveals a key insight: Once drinkers cross age 35, their per-capita alcohol spending increases significantly in the U.S. market.
So while the younger generation's current wine consumption remains dampened, industry leaders see opportunity ahead as — like a fine wine — Gen Z matures into its prime spending years: &#8220;As people get older and their budgets shift, their tastes might also evolve. That&#8217;s where wine really shines,&#8221; fourth-generation winemaker Joel Gott tells Wine Enthusiast.
The Rabobank report had a similarly sunny disposition on the data, projecting that eventually the industry will reap rewards when Gen Z hit their 35-and-over prime spending years: "This is an ideal outcome for the alcohol industry, which can celebrate the declines in underage drinking and binge drinking while still benefiting when Gen Zers reach their more mature and responsible prime spending years."
Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $10.</a>
Image: Shutterstock

No, Gen Z Isn't Drinking Less for 'Wellness' — They Simply Can't Afford To

<a href="https://x.com/elonmusk/status/1952109692488138865" title="https://x.com/elonmusk/status/1952109692488138865">https://x.com/elonmusk/status/1952109692488138865</a>

Tech

TSLA

Elon Musk, Asked On X When Tesla's Robotaxi Is Coming To Chicago, Replied Tesla Will Operate There As Soon As We Reaffirm Safety Testing In That Locale And Receive A License To Operate

<a href="https://www.wsj.com/business/deals/amphenol-nears-big-broadband-deal-in-ai-boom-3909b0df?mod=Searchresults_pos1&amp;page=1" title="https://www.wsj.com/business/deals/amphenol-nears-big-broadband-deal-in-ai-boom-3909b0df?mod=Searchresults_pos1&amp;page=1">https://www.wsj.com/business/deals/amphenol-nears-big-broadband-deal-in-ai-boom-3909b0df?mod=Searchresults_pos1&amp;page=1</a>

Rumors

COMM

The Wall Street Journal Reported Sunday, Amphenol Nears Deal for CommScope's Broadband Arm; Deal Values Unit At $10.5B, Including Debt; Could Be Completed Monday

In a brutally honest Reddit <a href="https://www.reddit.com/user/thecouponnerd/comments/1fju3tk/im_a_massive_savings_nerd_here_are_the_stupidest/?p=1&amp;impressionid=5485231103230909708">post</a> that&#8217;s gaining traction among personal finance communities, everyday Americans are calling out the financial missteps that drain thousands from their bank accounts annually. While financial advisors focus on complex investment strategies, these real-world insights reveal simpler—and more immediately impactful—ways to keep more money in your pocket.
<h2 class="wp-block-heading">The Car Insurance Money Drain</h2>
Perhaps the most shocking revelation: the average American overpays for car insurance by more than $410 annually, with some individuals reporting savings as high as $1,300 simply by switching carriers. This happens because insurance companies prioritize acquiring new customers with attractive introductory rates, then gradually increase premiums for existing policyholders who don&#8217;t shop around.
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The solution isn&#8217;t complicated. Using third-party comparison sites like Coverage.com or Auto-Savings.com once per year can uncover significant savings. Financial experts suggest annual comparisons strike the right balance—switching every six months is considered excessive and potentially counterproductive.
<h2 class="wp-block-heading">The Amazon Price Trap</h2>
Major online retailers have conditioned consumers to assume they&#8217;re getting competitive prices, but this assumption can be costly. Amazon and similar platforms often maintain higher prices precisely because they understand most shoppers won&#8217;t comparison shop across multiple sites.
Browser extensions like Capital One Shopping automatically scan for better prices and apply available coupon codes during checkout. This passive approach to price optimization can save hundreds annually without requiring additional research time from consumers.
<h2 class="wp-block-heading">Going Solo Against Debt Collectors</h2>
For Americans carrying $10,000 or more in unsecured debt—including credit cards and medical bills—attempting to negotiate independently with creditors often leaves money on the table. Professional debt relief companies leverage established relationships and negotiation expertise that individual consumers typically lack.
Trending: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can <a href="https://www.benzinga.com/money/mode-mobile-2">invest today for just $0.30/share.</a>
Industry data suggests these services can reduce debt burdens by approximately 23% on average, even after accounting for their fees. While debt relief isn&#8217;t appropriate for everyone, those with substantial unsecured debt may benefit from professional intervention rather than struggling alone.
<h2 class="wp-block-heading">The Tax Planning Blind Spot</h2>
Wealthy individuals don&#8217;t primarily use financial advisors for stock picking—they use them for tax optimization. This distinction matters because effective tax planning can improve annual returns by roughly 3%, not through market timing but through strategic tax reduction.
For middle-class investors, this represents a significant blind spot. Complex tax implications around retirement accounts, capital gains timing, and tax-loss harvesting often require professional guidance. Services like WiserAdvisor help connect individuals with vetted financial advisors based on specific needs and client reviews.
<h2 class="wp-block-heading">The Savings Account Stagnation</h2>
Many Americans continue using savings accounts offering 0.5% annual interest or less, often out of habit or lack of awareness about alternatives. This represents a substantial opportunity cost when hundreds of banks offer rates eight to 10 times higher.
High-yield savings accounts from established institutions can provide 4%-5% annual returns with Federal Deposit Insurance Corp. protection, dramatically improving the growth potential of emergency funds and short-term savings without additional risk.
See Also: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $10.</a>
<h2 class="wp-block-heading">The Real-World Impact</h2>
These aren&#8217;t theoretical optimizations—they represent immediate, actionable changes that can improve household finances by thousands annually. The Reddit post&#8217;s popularity suggests many Americans recognize these patterns in their own financial lives but lack the specific knowledge to address them effectively.
Unlike complex investment strategies that require market timing or specialized knowledge, these adjustments focus on eliminating unnecessary expenses and optimizing routine financial decisions. For most households, addressing these fundamentals provides more immediate benefit than pursuing aggressive investment returns.
Read Next: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
Image: Shutterstock

5 'Stupid Money Mistakes' That Could Be Draining Thousands From Your Wallet—What Financial Advisors Aren't Telling You

Famed investor&nbsp;Peter Lynch&nbsp;once underscored the significance of understanding the business behind a stock before investing in it, while also questioning the efficacy of economic forecasting.
What Happened: Lynch, who is recognized for his successful stint at&nbsp;Fidelity Investments, disclosed his investment insights during a 1997 <a href="https://www.youtube.com/watch?v=myu4Nv0pt0U">speech</a>.
He emphasized the importance of understanding&nbsp;the business behind the stock, advising, &#8220;If you can't explain to an 11-year-old in two minutes or less, why you own the stock, you shouldn't own it. Understanding the business behind the stock is the most important principle of investing in the stock market. This is why&nbsp;Buffett&nbsp;only invests into what he understands and what falls in his circle of competence. I buy stuff like Dunkin Donuts, Stop and Shop and made money on them," Lynch said during the speech.&#8221;
This philosophy is in line&nbsp;with&nbsp;Warren Buffett&#8216;s investment strategy, which advocates for&nbsp;investing in areas of personal&nbsp;expertise.
Lynch dismissed&nbsp;the concept of economic forecasting,&nbsp;identifying himself as a &#8220;bottom-up&#8221; investor who concentrates&nbsp;on individual stocks through comprehensive&nbsp;company and industry analysis.
Also Read: <a href="https://www.benzinga.com/news/stock-split/24/12/42635790/investment-guru-peter-lynch-often-great-investments-are-the-ones-where-everyone-else-will-think-you-are-crazy">Investment Guru Peter Lynch: &#8216;Often Great Investments Are The Ones Where Everyone Else Will Think You Are Crazy&#8217;</a>
He also underscored the significance of patience in investing, suggesting&nbsp;that substantial returns could be&nbsp;realized&nbsp;even a decade after a&nbsp;company&#8217;s&nbsp;initial public offering. He cited&nbsp;Walmart as an example, stressing&nbsp;that investing is a marathon,&nbsp;not a sprint.
&#8220;A decade after Walmart when public in 1970, it only had 15% penetration across the U.S. Thus, one could assume they had plenty of runway ahead to expand across the country, but success wasn&#8217;t guaranteed, so some investors might have though they already missed the bus,&#8221; Lynch said while talking about the Walmart.
Why It Matters: Lynch&#8217;s principles provide&nbsp;a valuable roadmap for both&nbsp;novice and seasoned&nbsp;investors. His emphasis on understanding&nbsp;the business, focusing on individual&nbsp;stocks, and practicing patience aligns&nbsp;with the strategies of successful&nbsp;investors like Buffett. 
His insights&nbsp;serve as a reminder to&nbsp;investors that successful investing hinges&nbsp;on making informed decisions and&nbsp;playing the long game.
Read Next
<a href="https://www.benzinga.com/markets/25/05/45483312/peter-lynchs-market-advice-you-dont-need-a-lot-in-your-lifetime-you-only-need-a-few-good-socks-in-your-lifetime">Peter Lynch&#8217;s Market Advice: &#8216;You Don&#8217;t Need A Lot In Your Lifetime, You Only Need A Few Good Stocks In Your Lifetime&#8217;</a>
Image: Shutterstock

Peter Lynch: You Shouldn't Own a Stock if You Can't Explain It to an 11-Year-Old in 2 Minutes

In light of a disappointing jobs report released on Friday, Jim Cramer has urged the Federal Reserve to implement a cut in interest rates.
What Happened: The nonfarm payroll growth for July was a mere 73,000, falling significantly short of the anticipated 100,000. Additionally, the figures for&nbsp;May and June were revised&nbsp;downwards by a total of 258,000. 
The unemployment rate for the nation rose to 4.2% last month, as forecasted, while wages saw a modest year over year increase of 3.9%.
During a <a href="https://www.cnbc.com/2025/08/01/cramer-has-an-urgent-message-for-powell-after-julys-terrible-jobs-growth.html">show </a>on CNBC, Cramer voiced his concerns, stating, &#8220;We&nbsp;have very little job growth,&nbsp;and we have wages that&nbsp;are not going up. That is when you cut.&#8221; He also criticized Federal Reserve Chairman Jerome Powell for his delay in implementing rate cuts.
"I've been a big backer of Jay Powell. But this is a number that says, ‘Jay, you didn't need to wait' to cut rates," Cramer added.
Also Read: <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46736975/powell-holds-rates-copper-crashes-after-tariff-change-trump">Powell Puts Breaks On September Rate Cut—And Trump Triggers A Metal Market Crash</a> 
This disappointing jobs report comes on the heels of the Federal Reserve&#8217;s decision to keep short-term rates between 4.25% and 4.5% for the fifth consecutive meeting, despite President Donald Trump&#8216;s insistence on a rate cut. 
The market is now forecasting a higher likelihood of a rate cut at the central bank&#8217;s meeting in September.
The dismal jobs data, along with President Trump&#8217;s revised tariff plans, has sparked a substantial market sell-off. The S&amp;P 500 and Nasdaq experienced declines of over&nbsp;1.5% and 2%, respectively, during&nbsp;morning trading.
Why It Matters: The sluggish jobs growth and stagnant wage increases underscore the challenges facing the U.S. economy. The Federal Reserve&#8217;s reluctance to cut rates, despite mounting pressure from the White House, has raised concerns about the central bank&#8217;s ability to stimulate economic growth. 
The market&#8217;s reaction to the jobs report and revised tariff plans indicates growing investor uncertainty. The potential rate cut in September could provide a much-needed boost to the economy, but its impact remains to be seen.
Read Next
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Image: Shutterstock

Politics

Jim Cramer Has Blunt Message for Fed Chair Powell After July Job Numbers Tanked

In recent polling data, President Donald Trump&#8216;s disapproval rating has hit a new high for the year, with the Jeffrey Epstein scandal and economic issues playing significant roles.
What Happened: The most recent ActiVote poll, conducted in July, reveals a disapproval rating of 52.1 percent for Trump, a rise from 51.5 percent in the previous month. The president&#8217;s approval rating remains consistent at 44.5 percent.
The handling of the Jeffrey Epstein case and Trump&#8217;s tariff policies, which have significantly affected the economy, have been key concerns for voters. 
Despite the drop, Trump&#8217;s approval rating still surpasses his first-term average and is higher than President Biden&#8217;s full-term average.
As per the <a href="https://www.activote.net/trumps-approval-holding-steady/">poll</a>, Trump&#8217;s&nbsp;approval within his own base&nbsp;has seen a decline, with support from&nbsp;the moderate right and right&nbsp;dipping to 82 percent, a 4-point drop from June. 
The Epstein scandal continues to loom over Trump&#8217;s administration, with&nbsp;a bipartisan majority of voters,&nbsp;including those who support MAGA, now advocating for the release of all Epstein-related government files.
Also Read: <a href="https://www.benzinga.com/news/politics/25/07/46266316/donald-trumps-approval-rating-jumps-among-baby-boomers-heres-whats-driving-it">Donald Trump&#8217;s Approval Rating Jumps Among Baby Boomers — Here&#8217;s What&#8217;s Driving It</a>
Economic issues are also proving problematic for the Trump administration, as recent polls indicate a downward trajectory&nbsp;in the president&#8217;s approval rating&nbsp;regarding his management&nbsp;of the economy and inflation.&nbsp;
The latest Reuters/Ipsos poll indicates that Trump&#8217;s approval rating has fallen&nbsp;to 40 percent, with 56&nbsp;percent disapproving, resulting in&nbsp;a net approval rating of&nbsp;-16 points.
Why It Matters: The rising disapproval rating for Trump comes at a crucial time, with the Epstein case and economic concerns casting a shadow over his administration. The decrease in approval from his own base could potentially impact his political standing and future prospects. 
The demand for transparency in the Epstein case and dissatisfaction with economic policies could influence public sentiment and voter behavior in the future. 
The administration&#8217;s response to these issues could be pivotal in shaping Trump&#8217;s legacy and political future.
Read Next:&nbsp;
<a href="https://www.benzinga.com/news/25/05/45482902/poll-shows-trumps-approval-rating-underwater-on-nearly-everything-from-economy-to-abortion" target="_blank" rel="noreferrer noopener">Poll Shows Trump's Approval Rating Underwater on Nearly Everything From Economy to Abortion</a>
Image: Shutterstock/Shutterstock AI

Trump's Disapproval Rating Soars Amid Economic Woes, Epstein Drama

Billionaire investor Warren Buffett is known for his emphasis on long-term investments. He focuses on businesses that he believes will maintain a competitive edge for decades to come.
What Happened: Buffett&#8217;s &#8220;buy and hold&#8221; strategy is the key to his advice for Apple investors to not get caught up in short-term metrics.
&#8220;Nobody buys a farm based on whether they think it&#8217;s going to rain next year. 
They buy it because they think it&#8217;s a good investment over 10 or 20 years,&#8221; he said in an interview in 2018. 
Buffett&#8217;s investment decisions are rooted in the longevity of a business, not its current performance. This approach led him to invest in See&#8217;s Candies in 1972 and Coca-Cola in 1988,&nbsp;both of which turned out&nbsp;to be profitable investments that he still owns today.
Also Read: <a href="https://www.benzinga.com/personal-finance/entrepreneurship/25/07/46510607/forget-wealth-warren-buffett-says-this-word-is-the-true-measure-of-success">Forget &#8216;Wealth&#8217;: Warren Buffett Says This Word Is the True Measure of Success</a>
In his 1996 <a href="https://www.berkshirehathaway.com/letters/1996.html">letter</a> to shareholders Buffett wrote, "Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio's market value. If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes."
Buffett&#8217;s core principle of long-term investment can be applied to almost every purchase we make. Whether it&#8217;s deciding to buy a home, clothing, appliances, or furniture, the value of an investment usually increases the longer you hold onto it.
Buffett&#8217;s strategy serves as a reminder to consider the long-term value of an investment, whether it&#8217;s a stock or a new car. 
If the Oracle of Omaha serves as any example, the discipline to buy things only when you really, really like them pays off.
Read Next
<a href="https://www.benzinga.com/markets/25/01/42803589/warren-buffetts-advice-for-overpriced-stocks-zip-up-your-wallet-take-a-vacation-and-come-back-in-a-few-years-to-buy-stocks-at-cheap-prices" target="_blank" rel="noreferrer noopener">Warren Buffett&#8217;s Advice for Overpriced Stocks: ‘Zip up Your Wallet, Take a Vacation, and Come Back in a Few Years To Buy Stocks at Cheap Prices&#8217;</a>

Warren Buffett's Advice: 'If You Aren't Willing To Own A Stock For Ten Years, Don't Even Think About Owning It For Ten Minutes'

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly developing a new rival to OpenAI&#8217;s ChatGPT via its newly formed &#8216;Answers&#8217; team. Meanwhile, an iPhone 17 Pro has been sighted in San Francisco.
Bloomberg's Mark Gurman, in his <a href="https://www.bloomberg.com/news/newsletters/2025-08-03/apple-s-chatgpt-rival-from-new-answers-team-iphone-17-spotted-in-the-wild-mdvmqs6g?srnd=undefined">latest </a>"Power On&#8221; report revealed that Apple is working on a stripped-down competitor to ChatGPT to enhance user access to global knowledge. This comes despite previous dismissals by Apple&#8217;s top software and marketing executives of the need for a chatbot. The company had earlier integrated ChatGPT into Siri, its voice assistant, in partnership with OpenAI.
Apple&#8217;s new team, known as Answers, Knowledge, and Information (AKI), is exploring various in-house AI services to create&nbsp;a new ChatGPT-like search experience.&nbsp;The AKI team is led&nbsp;by Robby Walker, a senior&nbsp;director reporting to AI chief&nbsp;John Giannandrea.
Apple&#8217;s current AI platform, Apple Intelligence, lacks search capabilities and is primarily focused&nbsp;on summarizing notifications, rewriting text,&nbsp;generating Genmoji images, and cleaning up photos. The new initiative aims to fill this gap.
Also Read: <a href="https://www.benzinga.com/trading-ideas/technicals/25/07/46510551/apples-first-foldable-iphone-a-game-changer-or-just-catching-up">Apple&#8217;s First Foldable iPhone: A Game-Changer or Just Catching Up?</a>
In other news,&nbsp;an iPhone 17 Pro was&nbsp;spotted in San Francisco, indicating that the company is testing its new device in real-world conditions. The device was seen in a stealth case designed to disguise the phone&#8217;s appearance.
Apple has also reportedly lost&nbsp;its fourth AI researcher in&nbsp;a month to&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>). The company&#8217;s foundation models team, responsible for developing large language models for generative AI, has been experiencing an exodus of talent.
The formation of the new &#8216;Answers&#8217; team and the development of a ChatGPT rival indicate Apple&#8217;s renewed focus on enhancing its AI capabilities. This comes amidst a talent drain from its AI research team to Meta Platforms. 
The sighting of the iPhone 17 Pro in the wild suggests that Apple is making progress in its device development and is likely nearing the launch of the new model. 
The company&#8217;s efforts to improve its AI services and continue its device innovation could potentially strengthen its position in the tech industry.
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