🚨🚨🚨 NEW: 🇺🇸 Expect at least one bank failure every week because of real estate collapse, says billionaire real estate investor Barry Sternlicht - Fortune

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🔥🔥 BREAKING : Switzerland🇨🇭 Surprises With Rate Cut, Moving Ahead of ECB and Fed.

The Swiss National Bank unexpectedly cut its key interest rate by 25 basis points, moving months ahead of global peers as policymakers try to prevent gains in the franc.

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🇺🇸Legendary Investor Stanley Druckenmiller on "Bidenomics":

"If I were a professor, I'd give them an 'F'... they've spent and spent and spent.

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🇺🇸 U.S. officials seek easier pathways to ban AI exports and keep tech secrets in.

Amid the global race to obtain high-level AI models, legislators in the U.S. have unveiled a new bill that would make it easier to ban exports of AI tech to safeguard against mal-intended foreign actors.

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🇺🇸 Mastercard, JPMorgan, Visa, Citibank & other big US banks are testing shared-ledger technology for tokenised asset settlements - Bloomberg

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🇺🇸 FED'S LOGAN:

- IT'S TOO EARLY TO THINK ABOUT CUTTING RATES

- Q1 INFLATION DATA IS DISAPPOINTING

- FED'S LOGAN: IT IS NOT A SOFT LANDING YET

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📣 Apple $AAPL has closed in on an agreement with Microsoft $MSFT backed OpenAI to use the startup’s AI technology on the iPhone - Bloomberg

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📣 Legendary mathematician and hedge fund manager Jim Simons has passed away, age 86.

His Medallion fund was called "Greatest Money-Making Machine of All Time" and made an annual return of 62% per year from 1988 to 2018 (before fees).

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🏛University of Michigan May Consumer Survey Report shows US 🇺🇸 Consumer Confidence Index drops to six-month low at 67.4.

The report also reveals rising consumer inflation expectations for the next year.

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🇺🇸 President Biden's $7.5 billion investment in electric vehicle charging has only produced 7 stations in two years, Washington Post reports.

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🇺🇸 US to impose 100% tax on 🇨🇳Chinese electric vehicles imported into the country - Financial Times

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🇨🇳 Chinese Stocks now trading at 9-month highs

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📣 OpenAI has been showing some of its customers a new multimodal AI model that can both talk to you and recognize objects - The Information

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🇺🇸 President Biden's $7.5 billion investment in electric vehicle charging has only produced 7 stations in two years, Washington Post reports.

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Income tax in European 💶 countries

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🇷🇺 Russia finds vast oil and gas reserves in British Antarctic territory

The discovery is estimated at 511 BILLION barrels of oil – about 10x the North Sea’s entire 50-year output.

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