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President Donald Trump on Wednesday threatened to cut off all trade with Spain, due to Madrid’s refusal to increase military spending and its airspace restrictions on the US’s attacks on Iran.

New taxes could raise health insurance premiums and slap a new charge on software downloads.

Throughout Chevalier's paper, she argues TTRT and Customs and Border Protection counterterrorism policies operate within what she describes as a "permanent state of exception" driven by "anti-Blackness and Islamophobia."

Gov. Gavin Newsom is once again heading out of state to hit the campaign trail with a planned trip this week to Nevada, extending a whirlwind year of jet-setting that has included overseas trips and a national book tour.

Amel Crawford tried to get away from cops after his mom's fatal stabbing by running into the surf at Rockaway beach, sources said.

Consumer Credit Unexpectedly Shrinks For The First Time Since 2024 As Credit Card Rates Jump

After two consecutive outsized jumps in consumer credit in the months of March and April, when gas prices surged and inflation resumed its track higher, lifting most prices as a result of the war in Iran, moments ago the Fed published its latest consumer credit (G.19) report for the month of May and it was a doozy: instead of the expected $17.5BN increase, in May total consumer credit unexpectedly shrank for the first time since November 2024.

The move was driven by a notable slowdown in nonrevolving credit, coupled with the biggest drop in revolving (credit card) debt since late 2024. 

Specifically, car and student loans (collectively non-revolving credit), rose by a modest $5.1 billion.

It was unclear what was behind the muted rise: recall that for the first quarter of 2026, student loans surged by $28 billion while auto loans posted a $2.4 billion decline, perhaps due to the very high interest rates on the debt (we will get an update for Q2 next month).

What is interesting, is that while auto loans have barely budged since late 2023, staying around 1.55 trillion for nearly three years, student loans have resumed their ascent, and after a modest decline in late 2023, student loans are once again at all time highs just shy of $1.9 trillion. 

At the same time, revolving credit, which mostly means credit card debt, unexpectedly sharnk by a notable $5.3 billion, following two months of $10BN+ increases.

It will be interesting to see if the paydown of credit card debt reflect in weaker retail sales for the month of June, which we will know when the report comes out in one week's time. 

Finally for those keeping tabs, after a modest decline in the previous two quarter, the average interest rate on credit card accounts assessed interest rose to 22.15%...

... a level last seen three years ago, when the Fed rates was almost 2% higher, which confirms our long-running observation that credit card rates go up but they never go down.

One final observation: after a period of about 6 years when the average amount financed by auto loans was around $25,000 (from 2008 to 2014), this amount has grown dramatically, and in Q1 2026 it hit a new record high of $42,500, the highest on record. Just in case there was confusion what is behind the relentless increase in car prices...

Tyler Durden Wed, 07/08/2026 - 15:44

Southern California millionaires are ready to go to battle with visitors to some of most gorgeous beaches saying no more to sprawling “beach living rooms” set ups or pay the price.

The Rock Hall of Famers will light up Sin City's most visually spectacular venue from Dec. 4-12.

Ari Shtein, 18, stood behind the 30-year-old victim on board an uptown R train approaching 28th Street in Chelsea around 3 p.m. June 28 when he allegedly reached into her underwear and penetrated her with his fingers, authorities and law enforcement sources said.

A NYCHA plumber who’s one of New York City’s highest-paid employees is in hot water after claiming he worked nearly 2,600 hours of overtime.

The developer behind The Grove, The Americana at Brand and The Commons at Calabasas is expanding into private hospitality with the Miramar Lake Club—a waterfront property nestled in the Santa Monica Mountains.

Workers remain unconvinced the return to office mandate would help downtown Sacramento businesses.

Investigators have been poring through several years’ worth of posts in roughly two dozen group chats on the popular messaging app that authorities believe served an online predator network of mainly Chinese men targeting mostly Chinese women in Germany.

Brown University Prof Bans Take-Home Exams After Mass-Cheating

Authored by Jennifer Kabbany via The College Fix,

A Brown University professor says he will no longer allow students to take exams at home after he caught a large chunk of his class cheating on a test.

Economics Professor Roberto Serrano said he allowed students to take a midterm at home, and 40 students, nearly half the class, earned a perfect 100; among the 86 students in the class, the average overall class score was 96, the Chronicle of Higher Education reported July 6.

“I immediately knew that something was fishy. In previous editions of the course, the average grade in the midterm ranged from 65 to 80,” the Ivy League professor said.

He said further review seemed to confirm his suspicions, so he told the class:

“I’m not going to declare it void for now. I’m going to give the class a chance to prove me wrong. If the distribution of grades in the final exam looks roughly similar to the distribution of grades on the midterm, then I’ll count the midterm. If not, I will declare the midterm null and void. Also, the final will be in person.”

Serrano told the Chronicle that, unfortunately, his fears were confirmed.

“Between the midterm in March and the final in May, there was a consistent flow of students dropping the class — many of them had scored 100 on the midterm,” he said.

“Of the 59 students that took the final, 19 of them failed, so they also failed the course. Quite a few showed up, signed the exam, and turned it in blank. The average grade for this final was by far the lowest in the history of this course.”

Underscoring the cheating scandal, Serrano is blind, and has had to overcome numerous hurdles as a student and an academic.

Asked what he thinks of students taking the easy route, Serrano said they’re only selling themselves short.

“A culture of effort and hard work should be inherent to learning. I worry many of our students now have the wrong idea, believing that the answer to any question can be obtained with a couple of clicks of the mouse,” he told the Chronicle.

“I tell them that years from now, their grades won’t matter. What will matter is how much they learned and how much stayed in their brain.”

Tyler Durden Wed, 07/08/2026 - 15:20

In a chaotic game on a dreary Tuesday night at Citi Field, Tyler Tolbert was making history.

"Everyone was astounding, making it all fall into place in just hours."

There’s a new hot seat in the Brendan Sorsby saga.

Find your footing in orthotic sandals for under $20.

For budget-minded travelers, the new Vegas can feel like a city of upcharges.