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The Federal Energy Regulatory Commission (FERC) has ordered the country's electric grid operators to reconsider rules for connecting very large energy users such ‌as data centers. The energy ⁠regulator​'s draft "show cause" orders the six regional grids under its jurisdiction, ⁠which ⁠excludes Texas, to justify ⁠or ​overhaul their process for powering very large energy users. Data centers are ⁠pushing ⁠U.S. electricity use to record highs and requiring more electricity ​in some parts of the country than grids can supply. "This is a race against time, and ⁠we are going to win," FERC Chairman Laura Swett said. "This is the biggest priority our country is facing at the moment."

 

U.S. News

Canadian lender Toronto-Dominion (TD) Bank has told some staff in its financial crimes and risk management team that it would run software to track the time they spend on browsers and internal chat and meeting applications. TD said the deployment of such software is "standard practice across the industry . . . the tool allows managers to more accurately manage workflows, team capacity and performance. Where deployed, colleagues are ​informed about where they are used and for what purpose." Deanna Pacitti, TD's associate vice president of high-risk investigations, ​told her team on a call reviewed by Reuters: "The idea is it's going to ​show pain points, where do we spend too much time . . . We know we have a lot of pain points across our systems." 

 

Reuters

U.S. efforts to open shipping channels in the Strait of Hormuz will allow a gradual increase in vessel transit, but security continues to be volatile, Chubb CEO Evan Greenberg has told Fox News. “It’s from day to day, hour to hour,” Greenberg said, adding: “Mines are the greatest uncertainty” in the strait. “We’re talking more about a war-zone environment,” he said. “Only a narrow channel is really being used to transit, and so it limits the number of ships that can actually go in and out. The Navy has been working to open up a broader set of channels, and as that happens, then shipping will increase.”

 

Bloomberg

President Trump no longer views artificial intelligence company Anthropic as a national security threat, according to an ‌interview with Axios. When asked if he viewed the company, or its CEO Dario Amodei, as a threat to national security, ​Trump said: "Well, not now, but a week ago, maybe." Trump said that Amodei had responded to a White House export control directive "very quickly because you know it's a tremendous liability . . . People get put in prison immediately for that. You can't play games with that. And he responded very responsibly, I thought."

 

Axios

A key U.S. economic indicator improved modestly in May, rising 0.1% after a 0.2% increase in April, marking a second consecutive monthly gain and suggesting the economy continues to expand, albeit at a slower pace. According to the Conference Board, the improvement was driven primarily by stronger financial market conditions, including higher stock prices and a favorable interest rate spread. However, the organization noted that both six-month and 12-month trends in the index remain negative, pointing to weaker economic growth ahead. Consumers continue to face pressure from rising living costs, particularly for energy and transportation, which are increasing faster than incomes and limiting discretionary spending on areas such as travel, dining, entertainment, and retail purchases. While consumer spending has remained relatively resilient, many households are increasingly relying on credit cards or liquidating investments to fund purchases. The report follows the Federal Reserve’s decision to leave interest rates unchanged amid ongoing inflation concerns, while lowering its forecast for U.S. economic growth in 2026 to 2.2% from 2.4%.

 

US News and World Report

Ford Motor has filed a lawsuit against Quill & Arrow, a Los Angeles law firm that represents drivers suing over so-called “lemons” - vehicles with significant, unfixable manufacturing flaws - alleging that the firm inflated its fees by up to 7,000% by using overseas non-lawyers to handle lemon law claims. Ford claims it has paid over $100m to the firm since 2021, with roughly half attributed to attorney fees. The lawsuit accuses Quill & Arrow of fabricating billing records and intentionally prolonging cases to increase billable hours. Doug Lampe, counsel at Ford, said: “California's Lemon Laws are in need of reform and the courts need to exercise more oversight.” The number of lemon law cases in California has surged from about 4,500 in 2015 to approximately 30,000 in 2024. Partners at Quill & Arrow called Ford's lawsuit “nothing more than an attempt to silence firms who would dare to hold them responsible and seek justice for consumers . . . It grossly mischaracterizes the facts and the claim that Quill & Arrow created fabricated attorney billing records is absurd.”

 

Los Angeles Times

The U.S. Justice Department is to end its nearly 40-year oversight of the International Brotherhood of Teamsters, saying that the union has successfully eliminated corruption and organized crime. In joint filings with the Teamsters in Manhattan federal court, the Justice Department noted that the 1.4m-member union has restored democratic governance and removed a "campaign of fear" that had included serious crimes. The oversight began following a 1988 lawsuit by then-U.S. Attorney Rudy Giuliani, which claimed the mafia had controlled the Teamsters. The settlement established a monitor to oversee the union's internal affairs and led to the permanent barring of around 400 individuals from membership. Founded in 1903, the Teamsters represent workers in a broad range of industries, including more than 300,000 UPS drivers, Costco warehouse employees, and freight ​and airline workers.

 

U.S. News

China has vowed to embed anti-sanctions provisions into its financial laws to block and counter what Vice Premier He Lifeng described as unreasonable foreign suppression. He said authorities would push to add similar provisions into other financial legislation, expanding what he called China’s “financial legal toolbox.” Bloomberg says the comments by the vice premier underscore how China is bolstering its legal defenses against foreign economic pressure, following a first-ever blocking order last month and new rules to counter "improper extraterritorial jurisdiction by foreign countries."

 

Bloomberg

The U.S. Department of Labor has instructed states to take immediate action against fraud, waste, and abuse in their unemployment insurance programs, warning that failure to comply could result in withheld administrative funds. "We are officially putting governors on notice," said Acting Labor Secretary Keith Sonderling. The department highlighted issues such as poor oversight and outdated technology, which have allowed fraud to thrive, particularly in states including California, Illinois, and New York. The Government Accountability Office estimated that fraud constituted between 11% and 15% of unemployment payouts from April 2020 to May 2023. The Labor Department plans to issue further directives in the coming weeks as part of a broader effort to address fraud in state-federal programs.

 

U.S. News

Rhode Island’s Supreme Court has amended its professional conduct rules and issued guidance on the use of generative AI as the technology spreads in the legal industry. The ​new guidelines, which are advisory, say lawyers must independently review and verify AI-generated ⁠work, and caution that such tools can “hallucinate” legal citations or mischaracterize legal precedent. Lawyers licensed in the state are required to stay up to date on changes in the ​law “including the benefits and risks associated with existing and developing technology."

 

Reuters

Oslo-headquartered aluminum company ​Norsk Hydro is to shutter two of its metal ​extrusion facilities ​in the U.S. next ⁠year. The closures will affect ​around 350 ​jobs. The ​two plants, at ‌California's ⁠City of Industry and in Delhi, Louisiana, ​face ​low ⁠capacity utilization and would ​require significant ​capital ⁠investment to meet operational standards, ⁠the company ​said.

 

Reuters

Japan's Fair Trade Commission has raided six leading ice cream manufacturers over suspicions they colluded to coordinate price increases, marking the first antitrust investigation into an alleged ice cream cartel in the country. The watchdog searched the offices of Meiji, Morinaga Milk Industry, Lotte, Ezaki Glico, Morinaga, and Akagi Nyugyo amid allegations the companies exchanged information over several years on the timing and scale of suggested retail price increases for ice cream and frozen desserts. Authorities are also investigating whether the companies used rising inflation as justification to raise prices beyond what higher costs warranted. One company, Glico, confirmed it is cooperating with the investigation. The probe comes as Japan's ice cream market reached a record ¥663.1bn ($4bn) in fiscal 2025, driven by strong demand and higher prices, with the industry recording growth for a sixth consecutive year.

 

Japan Today

NHK World Japan

The Guardian