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And, poof — there goes your dining budget at the most magical place on Earth.

US Utilities Requested $9.2BN In Rate Hikes In Q2, Up 26% From Previous Year

By Ethan Howland of UtilityDive

Electric and gas utilities in the second quarter asked state regulators to approve $9.2 billion in rate hikes, up 26% from the $7.3 billion in rate increase proposals filed in the same period last year, according to an updated report released Tuesday by the advocacy group PowerLines.

In the first half this year, utilities asked for $18.6 billion in rate hikes, down from about $25 billion in the same period last year, according to data collected by the nonprofit.

The report comes as average U.S. residential electric rates increased 7.3% from the year before to 18.8 cents/kWh in April, according to the U.S. Energy Information Administration. As a result, “regulators face mounting pressure to scrutinize utility spending plans while balancing the infrastructure investments that a modernizing grid genuinely requires,” PowerLines said.

The utility sector appears to be entering a capital investment “super-cycle” amid growing affordability concerns. Backlash to rising bills has prompted protests by consumers and their advocates, as well as new state laws intended to tackle the issue.

The Edison Electric Institute, a trade group for investor-owned utilities, estimates that IOUs will spend about $1.4 trillion from this year through 2030 on capital investments. EEI expects capital expenditures will jump 17% this year to nearly $239 billion, from about $204 billion in 2025.

Some utilities contend they can make the investments without significantly affecting their rates. FirstEnergy, for example, is proposing to increase its electric rates in Ohio over three years by about $392 million — partly to cover roughly $2.5 billion in planned capital expenditures. The company says this will increase average annual residential customer bills by less than 3% a year.

According to PowerLines and public filings, other rate hike proposals utilities filed in the second quarter include:

• Dominion Energy in Virginia is seeking about $1.5 billion across three rate requests;
• Oncor in Texas requested the largest single increase in the second quarter, at $1.2 billion, driven largely by transmission and distribution investments to meet demand from the oil and gas industry and data centers in the Permian Basin;
• We Energies in Wisconsin is seeking about $606 million in rate increases;
• DTE Energy in Michigan is seeking an increase of $474 million; and,
• Consumers Energy in Michigan is asking for a rate hike of $456 million.

The proposed rate increases in the Midwest total about $193 per customer, followed by $172 per customer in the South, $135 per customer in the Northeast and $110 per customer in the West, according to the data from PowerLines.

Utility regulators will scrutinize the rate hike proposals in the coming months.

“These requests, while often approved at a lower cost than utilities propose, have a high chance of reaching consumer bills in some form,” PowerLines said.

State regulators approved 58% of the total costs utilities sought to add to their rates from 2023 through 2024, the organization said.

U.S. residential customers paid 18.8 cents/kWh on average in April, up 7.3% from the year before, according to the latest data from the Energy Information Administration.

Those costs ranged from 12.4 cents/kWh in North Dakota to 46.6 cents/kWh in Hawai’i. The other highest cost states for residential customers were California at 35.3 cents/kWk, Connecticut at 32.2 cents/kWh and Massachusetts and New York at 29.5 cents/kWh.

Eversource Energy’s Connecticut Light and Power subsidiary is preparing to seek a $503 million rate increase, according to a May 20 filing at the Connecticut Public Utilities Regulatory Authority. If approved, it would increase residential rates by about 13%, the utility estimated.

CL&P said it would show PURA it has strategies to keep customer bills as stable and affordable as possible, while keeping the distribution system reliable.

Tyler Durden Wed, 07/15/2026 - 15:05

The victim, 47, was waiting on the southbound platform at the Fordham Road/Grand Concourse station around 2:20 p.m. June 27 when the unhinged attacker pushed him into an arriving D train, police said. 

Ukraine Shake-Up: Zelensky Sacks Popular Defense Chief, & IDs CEO Of Naftogaz As Likely Next Prime Minister

Update(1410ET): FT is reporting late in the day Wednesday that Ukraine's 35-year old defense minister, Mykhailo Fedorov, who has grown in popularity for his 'reformer' reputation and for orchestrating the ramped-up drone war on Russia, has been sacked by Zelensky.

The shock move comes days after Yulia Svyrydenko, Zelensky's prime minister, was forced to step down, and amid a big cabinet shake-up. Zelensky had previewed huge changes coming.

As to who might be elevated as new prime minister, Zelensky has dropped a strong hint that the CEO of the state-owned energy company Naftogaz, Sergii Koretskyi, might be next in the spot...

“The priorities are clear – preparing for winter,” Zelenskyy said on Wednesday as Kyiv braces for another season of expected Russian strikes on Ukraine’s energy grid. “Therefore, following ⁠all the consultations, Sergii Koretskyi is surely the ⁠most prepared candidate for the post of prime minister of Ukraine.”

This is already unleashing a flurry of controversy and commentary Wednesday, with pundits scratching their heads and questioning whether Zelensky is actually just playing petty and jealous internal politics - despite the narrative on the war shifting:

Ukrainian MPs say that Zelensky decided to fire popular defense minister Fedorov, in yet another cabinet reshuffle.
Many Ukrainians (and not just Ukrainians) see this as Zelensky putting petty politics ahead of winning the war.

— Yaroslav Trofimov (@yarotrof) July 15, 2026

*  *  *

Ukraine's 35-year old defense minister, Mykhailo Fedorov, has only been in the top military spot for six months, but amid a new Zelensky-initiated major cabinet reshuffling, the FT reports that the military's top spot has been targeted as the next leadership change.

The report has been issued just on the heels of Prime Minister Yulia Svyrydenko's surprise removal, upon which Zelensky in a statement suggested a broader government overhaul is underway. "Ukraine is changing its political strategy," he made clear.

The Ukrainian leader is "expected to remove defense minister Mykhailo Fedorov, the 35-year-old architect of Ukraine's wartime defence technology drive, after just six months in the post as part of a major cabinet reshuffle," FT writes Wednesday.

via the Ukrainian Review

"Several senior figures close to Zelensky said the president had held conversations about replacing the minister as he prepares to unveil his new government on Thursday," the report adds.

The FT report suggests that the young defense chief's anti-corruption zeal is alienating powerful figures who wish for the wartime situation to be looser with less oversight:

"But defense industry officials, senior Ukrainian officials, MPs from Zelenskyy’s party and others familiar with the matter have said — some publicly — that Fedorov had been a barrier to interests seeking to profit from Ukraine’s vast wartime defence budget… Fedorov repeatedly blocked attempts to steer lucrative procurement contracts to favoured companies, which put him at odds with powerful figures inside Ukraine’s political and defence establishment, said people familiar with the situation."

And yet interestingly President Trump has of late issued positive praise of Ukrainian forces' accomplishments in the area of drone warfare against Russia.

Kiev has further been boasting of its drone tech, and is even seeking to market it abroad, especially in the Middle East where Gulf countries are hungry for better defenses against smaller suicide drones.

Fedorov has been widely seen as having rapidly implemented a transformative vision on this front. For example, earlier this week The Economist wrote:

Tensions simmered barely below the surface at a war-council meeting in early July. Ukraine’s military leaders had mostly good news for their president. Middle- and long-range drone operations were seeing continued successes. A campaign to isolate Russian-occupied Crimea was running ahead of schedule. But as Power Point slides were shown to the testosterone-filled room, the generals griped about missile and ammunition procurement. The focus of their criticism, Mykhailo Fedorov, the 35-year-old tech-savvy defence minister who is known—and occasionally mocked—for his Silicon Valley style presentations, responded in kind.

If it wasn’t for his emergency drone-purchasing decisions at the beginning of the year, which required borrowing money earmarked for salaries, there would be no Crimean operation to speak of. A witness to the proceedings describes “two different co-ordinate systems” in a clinch: “No common language, even if holding back from direct conflict.”

But it seems there's a lot of angst within military command ranks over the defense chief's reluctance to try and achieve parity with Russia in terms of conventional military hardware, which he might reason is a lose-lose pursuit anyway.

Ukraine scores another €300 million in European cash

Ukraine's Defense Minister Fedorov says Ukrainian defense companies will be able to get €260M to increase production, plus €35.3M in innovation grants

EU shows no sign of letting up on fueling the conflict pic.twitter.com/Qkb6JMgj6o

— RT Intl (@RT_on_X) July 15, 2026

In the meantime, Zelensky had started the week by saying, "The Cabinet of Ministers needs to be renewed." He explained that "Each priority area of foreign policy will be assigned to a specific person with substantial experience who is capable of implementing what we agree on at the leaders’ level and what the Ukrainian people expect," he described further of an impending reshuffle. Who is next on the chopping block?

Tyler Durden Wed, 07/15/2026 - 15:04

Keebtsim Txhim Christopher Xiong, 26, of Fresno, was arrested.

"Our hearts are profoundly broken by the sudden passing of Josh Grisetti this past Friday at the age of 44," the crowdfunding platform read.

"Our hearts are profoundly broken by the sudden passing of Josh Grisetti this past Friday at the age of 44," the crowdfunding platform read.

Anya Taylor-Joy, Annette Bening, Aunjanue Ellis-Taylor and Timothy Olyphant star in the thriller, which is based on Marissa Stapley's novel.

The company shuttered over 140 stores in the last couple of years alone as shopping centers transform their strategy to survive.

Ex-seaman John Merrone, 54, could spend the rest of his life behind bars after he pleaded guilty to all five counts in a sex crimes indictment for spiking a female cadet's drink and raping her aboard the Liberty Glory cargo ship on Sept. 8, 2019.

The Spurs' NBA Finals loss nothing to do with the title-winning Knicks, according to their former top assistant coach.

"If [the prior legislation] had passed, the carriages would have stopped on June 1, 2026 -- Romanch died on June 17," the teen's father said.

Sac authorities confirmed a drug overdose death at the California Capitol building late Tuesday.

Los Angeles Mayor Karen Bass has lost yet another top communications official, extending a wave of turnover that has rattled the mayor's press operation as she prepares for a bruising reelection campaign.

"How long do you intend to put up with that Kash Patel character?" a stern-looking Sen. Sheldon Whitehouse (D-RI) chided Todd Blanche at one point in the five-hour hearing.

Among husbands whose wives earn at least 70% of household income, the risk of "serious psychological distress" is almost two and a half times as high, the study found.

Ditch the high-stakes snack selection. As the flight attendant pushes that cart down the aisle while you’re half-asleep, the pressure to choose the perfect snack and beverage is real. The highly anticipated mid-air snack time is disappointing when the options are stale or unpalatable. Delta Airlines dominated the survey with 30% of the vote and...

The WNBA wasn't going to suspend Alyssa Thomas after landing her fist on Caitlin Clark's throat until the NBA got involved.

Trump Wants ICE To Resume Traffic Stops After Deadly Encounter In Maine

President Donald Trump declared Wednesday that Immigration and Customs Enforcement (ICE) should keep relying on traffic stops as a major enforcement tool, defending the practice after a string of deadly encounters involving immigration officers, including a recent fatal shooting of a Colombian illegal immigrant in Maine. 

In a Truth Social post on Wednesday, Trump commended ICE agents and pushed the agency to maintain vehicle stops, even as officials examine the approach after recent events in Maine, Texas, and Florida.

"The men and women of ICE are doing a Great job, one that has to be done," Trump wrote. "We must be strong, tough, and smart, and we Cannot give up one of I.C.E.'s most important and effective Crime Fighting tools, The Traffic Stop!"

Trump warned that giving up the tactic would seriously harm the mission to remove criminals from the United States.

"Once we do, we are playing right into the criminal's hands," he wrote. "I.C.E., be judicious, fair, and smart, and go back and do your very important job."

Trump also stepped up his attacks on former President Joe Biden’s immigration policies, stating in the post that millions of illegal immigrants had poured into the country without any controls and that ICE must stay "strong, tough, and smart" while executing deportations.

Enforcement Review After Fatal Encounters

As the Epoch Times notes further, Trump's remarks come as immigration officials review vehicle-stop procedures following several deadly incidents involving ICE agents.

Border czar Tom Homan told Fox News on July 14 that ICE had temporarily paused most vehicle stops nationwide while the agency examines whether changes to training or tactics are needed.

FBI investigators work the scene of an alleged ICE-involved shooting in Biddeford, Maine, on July 13, 2026. Joseph Prezioso/AFP/Getty Images

"It's not a policy change. It's a temporary pause," Homan said. "ICE leadership along with DHS believes they want to look at these last couple incidents and look: Is there something that could have been done better? Is there any training that can be improved?"

Homan said the review was unlikely to affect the pace of immigration-related arrests and expressed confidence that ICE agents would continue to use traffic stops when necessary, particularly in cases involving dangerous suspects.

"If we can arrest that alien outside that vehicle and take that two-ton weapon away from them, that's good in some instances," Homan said. "Other instances, we're still going to need to do vehicle stops for a significant criminal."

The review follows a July 13 shooting in Biddeford, Maine, where an ICE officer fatally shot a Colombian national during a traffic stop after the man allegedly attempted to flee. The Department of Homeland Security said the agent opened fire while "fearing for public safety."

The Maine incident came days after another fatal shooting involving ICE agents in Houston. Authorities said officers were searching for a different individual when they attempted to stop a vehicle driven by Mexican national Lorenzo Salgado Araujo, who allegedly rammed an ICE vehicle, prompting an officer to fire in self-defense.

A third man died in Florida on Tuesday after being struck by a tractor-trailer while fleeing immigration and other federal officers, according to authorities.

The recent incidents have intensified debate over ICE's enforcement tactics.

Sen. Susan Collins (R-Maine) said she had urged Homeland Security Secretary Markwayne Mullin to suspend "non-urgent vehicle stops" following the Maine shooting and welcomed the department's decision to review the practice.

Collins joined Sen. Angus King (I-Maine) and Reps. Chellie Pingree (D-Maine) and Jared Golden (D-Maine) in requesting an independent investigation by the Department of Homeland Security inspector general.

Trump, meanwhile, cast traffic stops as an indispensable part of law enforcement, calling on ICE agents to "keep those Crime Stat Records coming" and assuring them that they are "loved and respected in America."

Jack Phillips and Troy Myers contributed to this report.

Tyler Durden Wed, 07/15/2026 - 14:45

Beige Book: Economic Activity Picked Up In 11 Of 12 Districts; Only San Fran Flat As "Employers Invested In AI"

In a modest support of the Fed's recent hawkish pivot, the latest Beige Book released today notes that economic activity across the US improved moderately, increasing at a slight to moderate pace in eleven of twelve Federal Reserve Districts in late May and June, while one District (San Francisco) reported no change. The pace of growth was ever so slightly better than that reported back in June when activity expanded in ten Districts, was flat in one, and down in one.

Here are the big picture highlights:

• The Beige Book, which this month was prepared by the Chicago Fed, found that consumer spending edged up as higher prices, particularly for fuel, dampened sales in other categories. To that point, several Districts noted declines in spending on discretionary items or trading down to more affordable varieties.
• Tourism was up, with some Districts receiving a boost from World Cup visitors.
• Confirming that consumers are hunkering down and not splurging, auto dealers reported little change in sales, but spending on repairs grew as consumers held onto vehicles for longer.
• Agricultural conditions deteriorated due to lower commodity prices, higher input costs, and tighter credit.
• In the energy sector, oil and gas drilling increased, despite the recent drop in oil prices.
• Manufacturing production grew modestly to moderately in most Districts, led by stronger orders from the data center, machinery, and defense sectors. Manufacturers in several Districts said supply chain issues were more common.
• Construction and real estate activity increased slightly overall, with several Districts noting growth in data center building.
• Financial conditions were stable on net, and commercial and consumer loan volumes were both up modestly.
• Commercial loan quality was stable, but consumer loan quality ticked down.
• Transportation activity increased modestly amidst ongoing supply chain changes related to higher tariffs and the conflict in the Middle East.
• Overall, activity in other service industries also was up modestly, with Districts highlighting growth in health care and professional services.
• Social service providers were adjusting to funding declines while demand for basic supports—housing, food, health care—remained high.
• Contacts generally expected the economy to continue to expand in the coming months, but several Districts noted elevated uncertainty in the outlook for fuel costs.

The Beige Book next went through an analysis of Labor Markets: 

• Employment rose on balance, with five Districts showing modest, moderate, or solid gains in employment, and with seven Districts experiencing little to no change.  In the previous report, only one District had modest, moderate, or solid employment gains.
• Employment rose in a variety of industries, including manufacturing, construction, and retail.
• Skilled workers were difficult to find in a range of fields, notably technicians and tradespeople.
• Though there were reports of lower employment in a couple of Districts, the declines were small.
• Wage growth was modest to moderate in most Districts, though two saw only slight wage increases. Some wage increases were attributed to increased competition for skilled workers.
• A few Districts noted that firms had increased their usage of AI, either in the hiring and screening of potential employees or to boost worker productivity.

Prices

• Prices increased moderately overall, with nine Districts reporting moderate growth, two robust growth, and one slight growth; compared with the last reporting period, price growth was the same or slower in all Districts.
• Non-labor input costs increased for a variety of industries—including services, construction, and manufacturing—and reflected in part higher costs for energy, transportation, and raw materials.
• Some contacts tied these cost increases to the conflict in the Middle East; others mentioned tariffs.
• Consumer prices continued to rise, and a few Districts said contacts saw greater price sensitivity among their customers.
• A couple of Districts reported that selling prices grew less than input costs over the period, crimping margins.
• Expectations for price growth over the coming months varied across Districts, with contacts in some expecting inflation to continue at its current pace, while contacts in others expected inflation to slow, in part due to falling fuel prices.

Highlights by Federal Reserve District

• Boston: Economic activity expanded slightly. Employment was flat, with some isolated layoffs, and wages rose at a slight pace. Cost pressures remained elevated, but output prices increased only slightly. Consumer spending rose modestly overall, buoyed by the World Cup, but discretionary spending softened among low- and moderate-income households. The outlook improved on balance.
• New York: Economic activity increased modestly, as service sector activity picked up after a long period of weakness. Employment increased modestly, with larger firms starting to hire for growth. Input prices rose strongly under pressure from tariffs and energy costs, though selling price increases remained moderate. Businesses became more optimistic.
• Philadelphia: Economic activity rose slightly in the current period, up from a slight decrease in the last period. Nonmanufacturing activity picked up, while manufacturing activity again rose modestly. Employment again declined somewhat. Wage inflation held steady at a modest pace, and prices continued to grow moderately. Manufacturers have more widespread expectations for future growth than nonmanufacturers.
• Cleveland: Fourth District business activity increased modestly, with faster growth anticipated in the coming months. Manufacturing demand rose moderately, while retailers continued to face soft demand due to higher fuel prices. Higher fuel costs filtered through to both selling prices and wage pressures. Selling prices rose at a robust pace.
• Richmond: The regional economy expanded moderately this cycle as consumer spending continued to grow despite some shifts in consumer behavior, even among higher income consumers. Business activity was generally reported as modestly growing, and employment grew modestly as well. Manufacturing output also increased modestly while producer prices were little changed despite rising input costs. Overall price growth remained moderate.
• Atlanta: Economic activity grew modestly. Employment levels remained largely flat. Wages rose moderately, and prices increased at a moderate pace. Consumer spending expanded modestly. Residential and commercial real estate were little changed. Transportation and manufacturing rose modestly. Energy activity was stable, but agricultural conditions worsened. Lending increased at a modest pace.
• Chicago: Economic activity in the Seventh District increased modestly over the reporting period. Manufacturing demand rose moderately; employment rose modestly; consumer spending, business spending, and construction and real estate activity increased slightly; and nonbusiness contacts saw a small increase in economic activity. Prices rose moderately, wages were up modestly, and financial conditions tightened slightly. Farm income expectations for 2026 edged down.
• St. Louis: Economic activity has slightly increased. Employment was unchanged, and wage growth was moderate. Prices rose at a robust pace, and increases were widespread. The outlook remains unchanged, with contacts noting that persistent uncertainty and elevated fuel costs continue to weigh on overall conditions.
• Minneapolis: The District economy expanded slightly. Employment grew modestly, and contacts reported that labor availability increased. Wage growth was modest to moderate. Prices increased moderately, but input price pressure remained elevated. Retail contacts reported greater discretion among consumers. Services, construction, commercial real estate, and manufacturing activity increased. Agricultural conditions deteriorated.
• Kansas City: Economic activity expanded slightly within the Tenth District, which was supported by increased manufacturing activity. Inflationary pressures continued to compress profit margins, prompting firms to make pricing and investment adjustments. Contacts expect slight growth over the next six months.
• Dallas: Economic activity in the Eleventh District rose moderately. Growth picked up in the banking, energy, and service sectors but moderated in manufacturing. Retail sales improved, and the real estate sector was mixed. Employment strengthened, and wage pressures rose. Outlooks were stable to positive, though inflation, the level of demand, and geopolitical and domestic policy uncertainty remained sources of concern.
• San Francisco: Economic activity was stable but somewhat muted. Employers held head counts steady and invested further in AI. Prices increased moderately, while wages rose slightly. Retail sales and demand for services edged down. Manufacturing activity rose modestly, while agriculture activity was unchanged but weak. Conditions were steady in real estate and financial services.

More in the full Beige Book 

Tyler Durden Wed, 07/15/2026 - 14:30