Rocket-Redfin Merger Raises Concerns in Senate

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California’s Bullet Train Project May Lose $4B in Federal Support

The U.S. Department of Transportation released a damning report on California’s high-speed rail ambitions. The 315-page document cites major funding gaps, unreliable ridership projections, and missed construction deadlines. With the initial $4 billion at risk and no clear plan to cover a $7 billion shortfall, federal authorities are preparing to rescind support. This marks another setback in the decades-long saga of the bullet train, once touted as a model for U.S. rail modernization. Transportation analysts warn this could derail future funding for similar projects across the country. Read More >>

Rocket-Redfin Merger Raises Concerns in Senate

A bipartisan group of U.S. Senators has questioned why antitrust regulators allowed Rocket Companies to acquire Redfin for $1.75 billion without intervention. Citing potential monopolistic control and rising costs for homebuyers, lawmakers including Elizabeth Warren and Cory Booker have demanded answers. The deal consolidates mortgage and real estate services, which some argue could stifle competition. Critics worry this could trigger a wave of tech-led consolidation in real estate. Read More >>

Tesla Struggles in Europe as Model Y Launch Nears

May sales for Tesla fell again across key European markets like Germany, the UK, and Italy. The fifth straight month of declines points to waning momentum amid political controversies and competitive pressure. The anticipated launch of the updated Model Y could revive interest, but analysts say the EV giant must regain public trust and adapt to Europe’s fast-changing regulatory landscape. Read More >>

Wells Fargo Gains as Fed Lifts Growth Cap

Wells Fargo shares jumped 2% after the Fed removed a $1.95 trillion asset cap, allowing the bank to expand for the first time since a major 2018 scandal. The move signals regulatory confidence in reforms implemented by the bank’s leadership. Investors cheered the decision, seeing it as a greenlight for broader lending and business growth opportunities. Read More >>

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