- Regencell Bioscience announced a 38-for-one stock split to enhance share liquidity.
- The stock split will take effect on June 16, 2025, pending Nasdaq approval.
Friday, June 6, 2025
Regencell Bioscience Announces 38-for-1 Stock Split to Boost Liquidity
US Supreme Court allows DOGE broad access to Social Security data
The U.S. Supreme Court on Friday permitted the Department of Government Efficiency, a key player in President Donald Trump's drive to slash the federal workforce, broad access to personal information on millions of Americans in Social Security Administration data systems while a legal challenge plays out.
At the request of the Justice Department, the justices put on hold Maryland-based U.S. District Judge Ellen Hollander's order that had largely blocked DOGE's access to "personally identifiable information" in data such as medical and financial records while litigation proceeds in a lower court. Hollander found that allowing DOGE unfettered access likely would violate a federal privacy law.
The court's brief, unsigned order did not provide a rationale for siding with DOGE. The court has a 6-3 conservative majority. Its three liberal justices dissented from the order.
Liberal Justice Ketanji Brown Jackson, in a dissent that was joined by fellow liberal Justice Sonia Sotomayor, criticized the court's majority for granting DOGE "unfettered data access" despite the administration's "failure to show any need or any interest in complying with existing privacy safeguards."
In a separate order on Friday, the Supreme Court extended its block on judicial orders requiring DOGE to turn over records to a government watchdog group that sought details on the entity established by Trump and Musk.
DOGE swept through federal agencies as part of the Republican president's effort, spearheaded by billionaire Elon Musk, to eliminate federal jobs, downsize and reshape the U.S. government and root out what they see as wasteful spending. Musk formally ended his government work on May 30.
Two labor unions and an advocacy group sued to stop DOGE from accessing sensitive data at the Social Security Administration, or SSA, including Social Security numbers for Americans, bank account data, tax information, earnings history and immigration records.
The agency is a major provider of government benefits, sending checks each month to more than 70 million recipients including retirees and disabled Americans.
In their lawsuit, the plaintiffs argued that the Social Security Administration had been "ransacked" and that DOGE members had been installed without proper vetting or training and demanded access to some of the agency's most sensitive data systems.
Hollander in an April 17 ruling found that DOGE had failed to explain why its stated mission required "unprecedented, unfettered access to virtually SSA's entire data systems."
"For some 90 years, SSA has been guided by the foundational principle of an expectation of privacy with respect to its records," Hollander wrote. "This case exposes a wide fissure in the foundation."
Hollander issued a preliminary injunction that prohibited DOGE staffers and anyone working with them from accessing data containing personal information, with only narrow exceptions. The judge's ruling did allow DOGE affiliates to access data that had been stripped of private information as long as those seeking access had gone through the proper training and passed background checks.
Hollander also ordered DOGE affiliates to "disgorge and delete" any personal information already in their possession.
The Richmond, Virginia-based 4th U.S. Circuit Court of Appeals in a 9-6 vote declined on April 30 to pause Hollander's block on DOGE's unlimited access to Social Security Administration records.
Justice Department lawyers in their Supreme Court filing characterized Hollander's order as judicial overreach.
"The district court is forcing the executive branch to stop employees charged with modernizing government information systems from accessing the data in those systems because, in the court's judgment, those employees do not 'need' such access," they wrote.
The six dissenting judges wrote that the case should have been treated the same as one in which 4th Circuit panel ruled 2-1 to allow DOGE to access data at the U.S. Treasury and Education Departments and the Office of Personnel Management.
In a concurring opinion, seven judges who ruled against DOGE wrote that the case involving Social Security data was "substantially stronger" with "vastly greater stakes," citing "detailed and profoundly sensitive Social Security records," such as family court and school records of children, mental health treatment records and credit card information.
https://www.aol.com/us-supreme-court-allows-musks-203551965.html
Amazon Freezes Hiring Budget For Its Big Retail Business This Year - Business Insider
According to BI:
The company doubled its workforce to 1.6 million from 2019 to 2021, but that number dipped to 1.55 million last year. Amazon has cut at least 27,000 employees since late 2022.
Dollar General vs. Dollar Tree: one soars, the other tumbles
The two major discount retailers operate in a fairly similar market. Both published their quarterly results this week. But Dollar General gained nearly 16%, while Dollar Tree lost 8%. How can such a difference be explained?
Dollar General is the leading discount retailer in the United States with just over 20,000 stores. The group covers almost the entire US and focuses on prices generally below $10. Its strategy is now international, with Mexico as its main target.
Dollar Tree, meanwhile, has spent the last decade operating two brands: the eponymous brand, which offers a range of brands at very low prices, generally less than $1.25. The other, Family Dollar, was acquired in 2015 with the aim of targeting more customers and growing in a market where size is essential for efficiency. But as the years went by, management has failed to effectively manage the Family Dollar brand. The group began by closing stores before deciding to sell the entity last March - for a pittance - compared to the 2015 purchase price.
This explains why Dollar General has outperformed its competitor in terms of operational and financial performance for the past decade. However, the context of recent years has undermined all low-cost models with little room for maneuver in terms of costs. Raising prices amounts to sabotaging the value proposition that justifies their very existence in the market.
This is why the margins of our two protagonists have melted like snow in the sun in recent years. Inflation, economic pressure, weak consumption, and Donald Trump's trade policy have undermined business models that were already walking a tightrope.
Nevertheless, this week the market reacted in diametrically opposite ways to the two companies' earnings reports. Both reported quarterly results that exceeded analysts' expectations. However, Dollar General now appears to be in pole position and better organized than its rival, which will have to rebuild its model without Family Dollar.
Dollar General wants to accelerate the improvement of its operations by focusing on the fundamentals of retail: store cleanliness, inventory levels, workforce availability, and product availability on the shelves, such as the addition of a selection of fresh fruit and vegetables in some stores. This aims to enable the company to maintain its role as a convenience store for consumers (everyday items account for more than 80% of sales) and to better compete with grocery and discount food chains. Let's talk about consumers. The customer base remains a major asset—thanks to its loyalty—particularly in rural areas, even though some consumers are sensitive to price increases caused by customs duties. At the same time, the company has decided to close stores in urban areas in order to refocus on its rural customer base, which is considered more strategic.
All these prospects have obviously pleased the market. Especially since Dollar General has the size and financial capacity to achieve them, even if its interest expenses have doubled or even tripled in recent years. Annual forecasts have been raised following this strong quarter, which is undoubtedly the company's best since the start of the pandemic.
Dollar Tree has less leeway, mainly because the announced sale of Family Dollar will leave a hole in its accounts. Optimists hope that this will allow the company to focus fully on implementing a new growth strategy. The reality is that it will have to rebuild from scratch in a particularly challenging environment.
The low-cost retail sector is going through tough times. The pressure on the balance between cost structure and selling prices has probably never been greater, at a time when many are complaining about the poor quality of discretionary items and widespread shoplifting. Strong competitors such as Walmart and Costco—helped by its warehouse club model—are making it difficult to expand market share. Finally, despite strong results, customer traffic is down overall as more and more shoppers have switched to monthly visits, whereas previously these retailers benefited from frequent impulse purchases. But if you have to choose, Dollar General currently has the edge.
US Supreme Court keeps DOGE records blocked in watchdog group's challenge
The U.S. Supreme Court extended on Friday its block on judicial orders requiring the Department of Government Efficiency to turn over records to a government watchdog group that sought details on the entity established by President Donald Trump and previously spearheaded by his billionaire former adviser Elon Musk.
The court put on hold Washington-based U.S. District Judge Christopher Cooper's orders for DOGE to respond to requests by Citizens for Responsibility and Ethics in Washington for information about its operations. The judge concluded that DOGE likely is a government agency covered by the federal Freedom of Information Act (FOIA).
The brief, unsigned order said that portions of one of the judge's decisions "are not appropriately tailored" and that "separation of powers concerns counsel judicial deference and restraint in the context of discovery regarding internal Executive Branch communications." The court sent the case back to a lower appeals court to narrow the judge's directives.
The court's three liberal justices - Sonia Sotomayor, Elena Kagan and Ketanji Brown Jackson - dissented from Friday's decision.
In a separate case, the Supreme Court on Friday permitted DOGE broad access to personal information on millions of Americans in Social Security Administration data systems while a legal challenge plays out.
DOGE has played a central role in Trump's efforts to downsize and reshape the U.S. government including by slashing the federal workforce and dismantling certain agencies. The watchdog group, called CREW, said its intention was to shed light on what it called DOGE's secretive structure and operations.
Musk formally ended his government work on May 30 and his once-close relationship with Trump has since unraveled publicly, a split that followed Musk's recent attacks on the president's sweeping tax and spending bill and played out dramatically on social media on Thursday.
CREW sued to obtain an array of records from DOGE through the FOIA statute, a law that allows the public to seek access to records produced by government agencies. It sought information on DOGE's activities over its role in the mass firings and cuts to federal programs pursued since the Republican president returned to office in January.
The Trump administration contends that DOGE is an advisory entity and not subject to FOIA. In response, CREW sought information to determine whether DOGE is subject to FOIA because it wields the kind of authority of an agency independent of the president.
Cooper ruled in April that DOGE must turn over some records sought by CREW and that the group was entitled to question DOGE official Amy Gleason at a deposition. The U.S. Court of Appeals for the District of Columbia Circuit declined on May 14 to put Cooper's order on hold.
The administration urged the Supreme Court to act, saying that the judge's orders intruded on the powers of the executive branch and compromised the ability of a wide array of advisers to provide candid and confidential advice to the president.
CREW told the justices that siding with the administration in the dispute would give the president "free reign" to create new entities that would "functionally wield substantial independent authority but are exempt from critical transparency laws."
In one of his decisions, Cooper said DOGE's operations have been marked by "unusual secrecy." In another, the judge said that the language of Trump's executive orders concerning DOGE suggests that it is "exercising substantial independent authority."
https://www.yahoo.com/news/us-supreme-court-keeps-doge-210715598.html
US Sanctions Four Hague ICC Judges Over Israel Probe
On Thursday, the US government imposed sanctions on four International Criminal Court (ICC) judges over their role in investigations into war crimes by US and Israeli forces.
The US State Department said the sanctions freeze any assets the judges hold in the country and ban them from any transactions involving US citizens or institutions, cutting them off from the US financial and legal system. This includes a ban on US banks, companies, or individuals from sending money, offering services, or cooperating with the judges through international bodies.
US Secretary of State Marco Rubio announced the sanctions in a written statement, accusing the ICC of overstepping its authority and threatening the sovereignty of the US and Israel.
The ICC responded by condemning the move as an attack on its independence. It said the sanctions undermine efforts to hold war criminals accountable. "Targeting those working for accountability does nothing to help civilians trapped in conflict. It only emboldens those who believe they can act with impunity," the court said.
UN High Commissioner for Human Rights Volker Turk also criticized the move, emphasizing that "attacks against judges" are in direct contradiction to "respect for the rule of law and the equal protection of the law – values for which the US has long stood."
The judges targeted are Solomy Balungi Bossa, Luz del Carmen Ibanez Carranza, Reine Alapini Gansou, and Beti Hohler.
According to the State Department, Bossa and Carranza were sanctioned for approving a 2020 investigation into alleged war crimes by US troops and CIA officers in Afghanistan and secret prisons.
Alapini Gansou and Hohler were targeted for their involvement in issuing arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former defense minister Yoav Gallant in November 2024, with charges including starvation and attacking civilians in Gaza. The decision triggered a strong reaction from both Washington and Tel Aviv, which rejected the ruling outright.
Less than three months later, on February 13, 2025, the US sanctioned ICC Chief Prosecutor Karim Khan, freezing his assets and banning him from entering the country.
On April 29, ICC judges issued a gag order on Khan, barring him from publicizing any new arrest warrant applications in the Palestine case. Judges said his public announcements had disrupted proceedings and put pressure on the court.
Trump escalated the campaign after returning to office in January 2025. Just days in, he signed an executive order threatening sanctions against anyone involved in ICC investigations related to US or Israeli war crimes.
The same order is now being used to justify sanctions against the four judges. Trump and Secretary of State Marco Rubio maintain that the ICC holds no authority over the US or Israel, neither of which is party to the Rome Statute.
Iran orders ballistic missile components from China
Iran has reportedly ordered thousands of tons of ballistic missile materials from China amid tense negotiations with the United States over the future of its nuclear program.
Ammonium perchlorate shipments — enough to fuel hundreds of ballistic missiles — will arrive in Iran in the coming months, sources familiar with the transaction told The Wall Street Journal.
Some of the rocket propellant will likely find its way to Iran-aligned militias in the region, including the Houthis in Yemen, who have been terrorizing ships passing through the Red Sea and firing missiles at Israel.
The deal with China comes as Iran looks to strengthen its military while brokering a deal with the Trump administration over its nuclear program.
Supreme Leader Ayatollah Ali Khamenei on Tuesday called the US “arrogant” as he rejected a revised nuclear deal that would allow Tehran to continue low-level uranium enrichment.
“The rude and arrogant leaders of America repeatedly demand that we should not have a nuclear program. Who are you to decide whether Iran should have enrichment?” he said in a televised speech.
After the proposal fell through, Trump warned in a social media post that “time is running out on Iran’s decision pertaining to nuclear weapons.”
The rocket fuel chemicals were ordered over the past few months by an Iranian company called Pichgaman Tejarat Rafi Novin Co. from a Hong Kong-based business Lion Commodities Holdings Ltd, according to the Journal’s sources.
A Chinese Foreign Ministry spokesperson told the paper that China wasn’t aware of the contract.
“The Chinese side has always exercised strict control over dual-use items in accordance with China’s export control laws and regulations and its international obligations,” the spokesperson said.
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