June 18, 2026

06 Market

The markets are obsessed with the Strait of Hormuz. Why it matters less than you think– www.cnbc.com

pgnewser April 15, 2026 0

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EXCERPT:

… The U.S. ‘blockade’ of Iranian ports around the Strait of Hormuz (SOH) is under a week old.  When the U.S. naval blockade was announced, some worried it would make things worse by further enraging Iran or the rogue Iranian military, who may then attack ship traffic, ports, or people.  Thankfully, it’s been relatively calm. However we may be just one drone strike, one stray Iranian missile, or one nasty Hormuz mine blast from an escalation.  An assault directly on an American warship would send oil prices soaring.  It’s a scary and tentative time.

That said…

MY TAKE → The Strait of Hormuz is not as important to global energy as it was just a few weeks ago.  Here’s why.  Over the past few years, both Saudi Arabia and the UAE have very smartly built back-up pipelines. Those pipelines – a whopping 7 million barrels per day capacity in Saudi and about 1.5 million per day flowing across the UAE have – have cut the flow of shipborne oil out of the Hormuz by half.

We know the Strait matters massively to more than just oil.  I’ve been very clear on concerns about shortages of fertilizer, jet fuel, other refined products and even helium for semiconductor manufacturing.  Even if the Strait returns to pre-war shipping levels soon – by the way, something absolutely no one is counting on – it could take months to get back to any state of normal for energy and related supply chains.

Armanino, DataSnipper partner to support AI-driven audit automation– finance.yahoo.com

pgnewser April 15, 2026 0

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US accounting and consulting practice Armanino has entered into a partnership with DataSnipper, an agentic automation platform used by audit and finance teams.

Under the arrangement, Armanino will help clients roll out DataSnipper throughout their internal audit, compliance and risk management functions. The combination will leverage Armanino’s implementation experience and DataSnipper’s agentic automation technology to help organisations modernise their processes.

The tie-up is intended to support Armanino’s broader plan to embed AI-enabled automation into internal audit and risk advisory work, while maintaining human judgement, oversight and quality standards.

What Trump Can Learn From Reagan About The Strait Of Hormuz– thefederalist.com

pgnewser April 15, 2026 0

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EXCERPT:

As the United States Navy enforces a full blockade of Iranian ports and conducts minesweeping operations in the Strait of Hormuz, the lessons of 1987 and 1988 are once again proving their worth. I know, because I participated in the Pentagon basement war games that shaped Operation Praying Mantis in 1988, which became America’s largest Navy surface engagement since World War II.

In March 1987, as Iran attacked shipping in the Persian Gulf during the Tanker War, Kuwait sought U.S. protection for its oil tankers. President Ronald Reagan ordered them reflagged under Operation Earnest Will.

Before the first convoy sailed, two-week-long war games tested responses to Iranian provocations. I served on the Green team as a young Reagan appointee, modeling a robust, military-centric reaction. The Blue team pursued a restrained, “proportional response” approach favored by the foreign policy “Blob.”

The outcomes were clear: The Green team’s decisive posture resulted in roughly 50 American dead, wounded, or captured. The Blue team’s tentative path allowed Iran to control escalation, producing some 1,500 American casualties.

GOP Touts Tax Cuts as Refunds and Real Wages Rise– www.dailysignal.com

pgnewser April 15, 2026 0

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President Donald Trump and Republicans are hoping to cash in politically on the extra amount of cash in Americans’ wallets this Tax Day.

Across the country, Americans are cashing in on the One Big Beautiful Bill Act’s tax provisions and receiving a boost from real wage growth in the Trump economy.

“This tax season, nearly half of all filers have claimed tax cuts that every single congressional Democrat voted against,” House Majority Whip Tom Emmer, R-Minn., told The Daily Signal.

The financial relief from the One Big Beautiful Bill Act, now commonly referred to as the Working Families Tax Cuts by Republicans in Congress, has become a major talking point for the GOP in recent months, as the party argues that strong economic fundamentals have helped soften the economic impact of the war in Iran.

Google DeepMind Releases Gemini Robotics-ER 1.6: Bringing Enhanced Embodied Reasoning and Instrument Reading to Physical AI– www.marktechpost.com

pgnewser April 15, 2026 0

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Google DeepMind research team introduced Gemini Robotics-ER 1.6, a significant upgrade to its embodied reasoning model designed to serve as the ‘cognitive brain’ of robots operating in real-world environments. The model specializes in reasoning capabilities critical for robotics, including visual and spatial understanding, task planning, and success detection — acting as the high-level reasoning model for a robot, capable of executing tasks by natively calling tools like Google Search, vision-language-action models (VLAs), or any other third-party user-defined functions.

Here is the key architectural idea to understand: Google DeepMind takes a dual-model approach to robotics AI. Gemini Robotics 1.5 is the vision-language-action (VLA) model — it processes visual inputs and user prompts and directly translates them into physical motor commands. Gemini Robotics-ER, on the other hand, is the embodied reasoning model: it specializes in understanding physical spaces, planning, and making logical decisions, but does not directly control robotic limbs. Instead, it provides high-level insights to help the VLA model decide what to do next. Think of it as the difference between a strategist and an executor — Gemini Robotics-ER 1.6 is the strategist.

Amazon workers told ‘back to work’ as ‘colleague lies dead on warehouse floor’ | US | News– www.express.co.uk

pgnewser April 15, 2026 0

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An Amazon worker allegedly lay dead in a warehouse for more than an hour as his colleagues were told to carry on with their work, according to a new report. Workers in Amazon’s distribution centre in Troutdale, Oregon, were reportedly discouraged from helping a man dead on the floor in the warehouse, with one employee claiming a manager told them “just turn around and not look. Let’s get back to work”.

An employee, identified under the pseudonym Sam, said he saw a body lying “lifeless” at his workplace but was told by a supervisor to “please get back to work”.

Sam, who is trained in CPR, added that multiple workers wanted to help a woman who ran to the person to perform chest compressions, according to The Western Edge.

An investigation by the outlet alleged Amazon attempted to prevent news of the worker’s death on April 6 from becoming public.

Sam said: “I started sobbing and said, ‘I want to help, please.I know she’s going to get tired and need to be subbed out.”

Diplomats try to arrange second round of US-Iran talks during first day of American blockade– www.euronews.com

pgnewser April 15, 2026 0

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Diplomats worked through back channels on Tuesday to arrange a new round of peace talks between the United States and Iran after Washington enacted its blockade of Iranian ports, while Tehran threatened to strike targets across the war-weary region.

US President Donald Trump said a second round of talks could happen “over the next two days,” telling the New York Post the negotiations could be held again in Pakistan’s capital.

United Nations Secretary-General Antonio Guterres concurred, saying it’s “highly probable” that talks will restart. He cited a meeting he had with Pakistan’s deputy prime minister, Ishaq Dar.

“There is no military solution to this crisis. Peace agreements require persistent engagement and political will. Serious negotiations must resume,” he said.

Iran war already taking a toll on the global economy, IMF says in new forecast – The Washington Post– news.google.com

pgnewser April 15, 2026 0

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  1. Iran war already taking a toll on the global economy, IMF says in new forecast  The Washington Post
  2. Middle East War Will Slow Global Economic Growth, I.M.F. Warns  The New York Times
  3. Citing fallout from the Iran war, IMF cuts the outlook for global growth, expects higher inflation  San Francisco Chronicle
  4. Joint Statement on 13 April by the Heads of the International Energy Agency, International Monetary Fund, and World Bank Group  IEA – International Energy Agency
  5. IMF warns global economy at risk of recession if Iran war persists  BBC

AI Leadership Assassin Caught

pgnewser April 14, 2026 1

A man who tried to kill OpenAI CEO Sam Altman has been caught. Included in the evidence is a hit list of AI leaders the man hoped to kill. An FBI Affidavit claimed the suspect wanted to kill AI by killing its human leaders.

The suspect allegedly wrote, “Also if I am going to advocate for others to kill and commit crimes, then I must lead by example and show that I am fully sincere in my message.”

Man Who Allegedly Attempted To Murder Sam Altman Had Hit List Of Other AI Leaders, FBI Says– dailycaller.com
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EXCERPT:

The man accused of attempting to murder OpenAI CEO Sam Altman kept a hit list of other tech executives, according to the FBI.

Twenty-year old Daniel Moreno-Gama, who faces federal charges for posession of an unregistered firearm and attempted destruction of property with explosives, wrote a document that “identified views opposed to Artificial Intelligence (AI) and the executives of various AI companies,” an FBI affidavit revealed Monday.

After detaining Moreno-Gama, officers “recovered incendiary devices, a jug of kerosene, a blue lighter, and a document” from his possession, according to court records.

Moonshine Liberty

pgnewser April 14, 2026 1

The U.S. Fifth Circuit Court of Appeals has essentially struck down a 158-year-old law that made moon shiners run, the law making home liquor distilling illegal.

US Court Rules Against 158-Year Ban on Home Liquor Distilling – Newsweek
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EXCERPT:

A U.S. appeals court has ruled that a 158-year-old ban on distilling liquor at home is unconstitutional.

The U.S. Court of Appeals for the Fifth Circuit said the law exceeds Congress’ constitutional taxing power in a ruling on Friday.

Why It Matters

The ruling blocks enforcement of a long-standing federal prohibition that effectively made home distilling spirits a criminal offense. The case raises broader constitutional questions about the limits of Congress’ power to regulate behavior under its taxation authority.

What To Know

The case was brought by the Hobby Distillers Association and four of its members, who challenged an 1868 law which prohibited the operation of distilling spirits in or near homes.

The statute, enforced by the Alcohol and Tobacco Tax and Trade Bureau, carries criminal penalties, including fines of up to $10,000 and up to five years imprisonment.

EU doubles steel tariffs to 50% to curb surge of cheap Chinese imports– www.france24.com

pgnewser April 14, 2026 0

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EU lawmakers and countries agreed to double tariffs on foreign steel on Monday, to shield the bloc’s struggling industry from a flood of cheap Chinese exports.

European Union governments and parliament representatives reached a late evening deal to hike levies on steel imports to 50 percent and slash the volume allowed in before tariffs apply by 47 percent.

“The shape and global standing of Europe‘s steel sector are fundamental to our strategic autonomy and industrial strength. We therefore cannot afford to turn a blind eye to global overcapacity reaching critical levels,” commented the EU’s trade chief, Maros Sefcovic.

“Today’s outcome helps bring much-needed stability for our producers to thrive in Europe”.

ABUSIVE TAXATION: Top 25% Pay Nearly 90%—Bottom 50% Pay Zero– gellerreport.com

pgnewser April 14, 2026 0

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The truth about what top earners pay in terms of all income taxes collected by the US government:

–the top 1% pays 40% of all income taxes
–the top 25% pays 87% of all income taxes
–the bottom 50% pays 2.3% of all income taxes

While Americans scramble to get their tax filings submitted—or at least their extension requests filed by the April 15 deadline—Democrat leaders are pushing to tax the rich even more so than they already do. Wall Street Journal: Tax Day has arrived again, and our April 15 condolences to those who pay the bulk of the nation’s bills. It’s a smaller group than many Americans realize, and those figures bear repeating, as Democrats renew their line that the rich won’t pay their “fair share.” Sen. Cory Booker has a bill to raise the top individual income-tax rate to 43%, from today’s 37%. Sen. Chris Van Hollen wants 49%. Both proposals would also eliminate income taxation for many lower earners…. Yet

Iran war escalation could trigger global recession, IMF warns | Global economy– www.theguardian.com

pgnewser April 14, 2026 0

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A further escalation in the Iran war could trigger a global recession, spiralling inflation and a sharp backlash in financial markets, the International Monetary Fund has warned.

Against an increasingly volatile backdrop, the Washington-based fund said the economic damage from the Middle East conflict was steadily rising as it cut its growth forecasts for 2026 based on the impact from the war so far.

In its half-yearly update, the IMF said the UK would suffer the sharpest growth downgrade and joint highest inflation rate in the G7 this year, even if the fallout from soaring energy costs can be contained by the middle of 2026.

However, under a worst-case “severe scenario,” involving a drawn-out war and persistently higher energy prices, it said the world would face “a close call for a global recession” for only the fifth time since 1980.

Oil prices jumped back above $100 (£74) a barrel on Monday amid choppy trading in global markets after crunch weekend talks between the US and Iran ended in stalemate and as a US blockade on the strait of Hormuz began. On Tuesday, Brent crude eased 0.9% to $98.5 a barrel on hopes of further peace talks.

You Can Soon Buy a $4,370 Humanoid Robot on AliExpress– www.wired.com

pgnewser April 14, 2026 0

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EXCERPT:

Listing consumer electronics on the internet’s large ecommerce marketplaces is a key step in “democratizing” the products, allowing them to be purchased by anyone with just a click. It has happened to cars (in the United States, you can buy a Hyundai on Amazon), and now it’s happening to humanoid robots.

The Chinese manufacturer Unitree Robotics, among the most active robot-makers in the field, is preparing to bring its most affordable model, the Unitree R1, to international markets through Alibaba Group’s marketplace. According to reports in The South China Morning Post, the rollout will initially cover North America, Japan, Singapore, and Europe. There’s no exact on-sale date for the robots yet, but the Post report says it will show up as soon as this week.

This is not the first time Unitree has used AliExpress as a global storefront. The company’s G1 model, the more powerful and more expensive predecessor to the R1, is already listed at just under $19,000.