Banks Goldman Sachs, Bank of America and Morgan Stanley reported stronger-than-forecast profits, as tariff-related market turbulence boosted trading revenue. Plus: Shares in car companies Ford, Renault and Stellantis fall. And, Chip-equipment supplier ASML said it couldn't guarantee growth in 2026, due to worsening tariff uncertainty. Charlotte Gartenberg hosts.
After sectarian clashes in southern Syria, Israel launches airstrikes on Syrian government targets, saying it needs to protect the Druze ethnic minority. We attempt to explain a complicated situation with defence expert Dr Robert Geist Pinfold, and hear from an eyewitness in the city of Sweida and an advisor to the Syrian foreign minister.
Also in the programme: continuing controversy in the United States over the legacy of convicted paedophile Jeffrey Epstein; the plight of hundreds of thousands of Afghans who have been abruptly deported from Iran; and a plan to breathe new life into the Victorian glasshouses at London's Kew Gardens.
(Photo: Damaged vehicles outside the Syrian Ministry of Defence building following an Israeli airstrike in Damascus; Credit: MOHAMMED AL RIFAI/EPA/Shutterstock)
California Gov. Gavin Newsom seems to be more interested in podcasting, siding with protesters, and pointing fingers at the Trump administration than actually fixing the problems in his state.
Newsom’s record long record of failure is evident in the was California is spiraling out of control: a crumbling infrastructure, surging poverty, and broken immigration enforcement.
Victor Davis Hanson has a message for Gavin Newsom on why his priorities are not only out of touch—but dangerous—on today’s episode of “Victor Davis Hanson: In His Own Words.”
“He’s now inserted himself into the ICE deportations crisis in California and siding with the protesters that are trying to obstruct ICE. And he has a very incoherent position. … I guess the supposition is that Gavin thought it was quite moral for 12 million people to break the law, but it’s quite amoral for somebody to try to rectify the situation and enforce the law.
“ You look at a state that is in complete free fall, it is a catastrophe, and rather than addressing transportation, energy, poverty, housing, gasoline, what are you doing? You’re campaigning for president. And you’re in Twitter wars with the president of the United States. And you’re defending the catastrophic governance in Los Angeles. And you’re trying to impede the enforcement of a law that if it was enforced, you would be the biggest beneficiary.”
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(0:00) Gavin Newsom's Presidential Aspirations
(1:38) Newsom's Controversial Actions and Statements
Plus: Ubisoft names two co-CEOs to lead its new Tencent-backed subsidiary. And, Estée Lauder’s new CEO makes fresh push to reach shoppers online. Julie Chang hosts.
P.M. Edition for July 16. In comments from the White House today, President Trump denied that he was trying to oust Federal Reserve Chair Jerome Powell, though he raised the prospect that Powell could be removed for cause. Plus, big banks like Goldman Sachs have reported bumper earnings for the second quarter. But as Journal reporter AnnaMaria Andriotis tells us, the factors that made the quarter so strong may not continue into the next few months. And Oracle, the software company founded nearly 50 years ago, is striking big deals for artificial intelligence that’s boosting its stock price. WSJ Heard on the Street columnist Dan Gallagher joins to discuss what it would take for Oracle to become one of the biggest names in AI. Alex Ossola hosts.
Valuations are stretched, but is it a bubble. And we discuss the latest AI and energy news, ASML’s earnings, and a surprising report from Johnson & Johnson.
(00:21) Travis Hoium, Lou Whiteman, and Rachel Warren discuss:
- Is the market in a bubble?
- Google’s $25 billion data center and energy deals
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In addition to eviscerating the top leadership at the Bureau, Kash Patel has assigned whole squads of agents to immigration enforcement. Seasoned FBI veterans who used to focus on national security or run RICO investigations are now doing perimeter security during ICE round-ups of kids and grandmas. The administration's purge is draining the Bureau of expertise and apolitical people who did real work defending the rule of law and protecting the country. Plus, do four GOP senators care one iota about the whistleblower allegations against Emil Bove? And will Ukraine finally get badly-needed air defense weapons?
Ben Wittes and Mike Feinberg—a former top deputy at the Bureau who was targeted by Dan Bongino—join Tim Miller. show notes
Join Washington Examiner Senior Writer David Harsanyi and Federalist Editor-In-Chief Mollie Hemingway as they discuss whether the Biden White House will face accountability for its alleged autopen scandal, dive into the Epstein files controversy, and analyze the Turning Point USA foreign policy debate between Dave Smith and Josh Hammer. Mollie and David also share their thoughts on French musical group Kid Francescoli, the third installment of The Godfather trilogy, and several of their current reads.
If you care about combating the corrupt media that continue to inflict devastating damage, please give a gift to help The Federalist do the real journalism America needs.
One of the biggest cuts included in President Donald Trump's recent tax and spending bill is to Medicaid, the federal program that provides health insurance to low-income Americans and people with disabilities. The Congressional Budget Office estimates it would lose $1 trillion over the next ten years.
Republicans say these changes address fraud and waste in the Medicaid program. But some rural hospitals and states warn it could have devastating effects.