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Monday, June 16, 2025

US deploying more defensive capabilities to Middle East, defense secretary says

 U.S. Defense Secretary Pete Hegseth said on Monday he had ordered the deployment of additional defensive capabilities to the Middle East, as the escalating conflict between Israel and Iran drives regional tensions higher.

© Reuters. FILE PHOTO: U.S. Defense Secretary Pete Hegseth attends a Senate Appropriations Committee hearing on U.S. President Donald Trump’s budget request for the Department of Defense, on Capitol Hill in Washington, D.C., U.S., June 11, 2025. REUTERS/Elizabeth Frantz/File Photo

Hegseth did not disclose what military capabilities he sent to the region. But Reuters was the first to report earlier on Monday a deployment of a large number of U.S. military refueling aircraft and the movement of an aircraft carrier to the Middle East.

"Protecting U.S. forces is our top priority and these deployments are intended to enhance our defensive posture in the region," Hegseth said in a post on social media platform X.

https://www.investing.com/news/world-news/us-deploying-more-defensive-capabilities-to-middle-east-defense-secretary-says-4098156

'Texas startup sells plastic-eating fungi diapers to tackle landfill waste'

  Could baby poop and fungi work together to tackle landfill waste? That's the idea behind a new product launched by an Austin, Texas-based startup that sells disposable diapers paired with fungi intended to break down the plastic.

Each of Hiro Technologies' MycoDigestible Diapers comes with a packet of fungi to be added to the dirty diaper before it is thrown in the trash. After a week or two, the fungi are activated by moisture from feces, urine and the environment to begin the process of biodegradation.

Disposable diapers contribute significantly to landfill waste. An estimated 4 million tons of diapers were disposed of in the United States in 2018, with no significant recycling or composting, according to the Environmental Protection Agency. Diapers take hundreds of years to naturally break down. That means the very first disposable diaper ever used is still in a landfill somewhere.

To tackle this, Hiro Technologies turned to fungi. These organisms — which include mushrooms, molds, yeasts and mildew — derive nutrients from decomposing organic matter. In 2011, Yale University researchers discovered a type of fungus in Ecuador that can feed on polyurethane, a common polymer in plastic products. They figured the fungus, Pestalotiopsis microspora, would be capable of surviving on plastic in environments lacking oxygen, like landfills.

Hiro Technologies co-founder Tero Isokauppila, a Finnish entrepreneur who also founded medicinal mushroom company Four Sigmatic, said there are more than 100 species of fungi now known to break down plastics.

"Many, many moons ago, fungi evolved to break down trees, especially this hard-to-break-down compound in trees called lignin. ... Its carbon backbone is very similar to the carbon backbone of plastics because essentially they're made out of the same thing," Isokauppila said.

Three sealed jars at Hiro Technologies' lab show the stages of decomposition of a treated diaper over time. By nine months, the product appears as black soil — "just digested plastic and essentially earth," Isokauppila said.

The company says it needs to do more research to find out how the product will decompose in real-world conditions in different climates and hopes to have the data to make a "consumer-facing claim" by next year. It also plans to experiment with plastic-eating fungi on adult diapers, feminine care products and other items.

For now, it is selling "diaper bundles" for $35 a week online. Co-founder Miki Agrawal, who was also behind period underwear company Thinx, said the MycoDigestible Diapers had been generating excitement from consumers and investors since launching about a month ago, declining to give details. Agrawal said the company had chosen to focus on diapers as the top household plastic waste item.

"There is a deleterious lasting effect that we haven't really thought about and considered," Agrawal said. "Because when you throw something away, no one's asking themselves, 'Where's away?'"

https://www.ksl.com/article/51330926/texas-startup-sells-plastic-eating-fungi-diapers-to-tackle-landfill-waste

Trump says everyone should immediately evacuate Tehran

 President Donald Trump on Monday urged everyone to immediately evacuate Tehran, and reiterated that Iran should have signed a nuclear deal with the United States.

"IRAN CAN NOT HAVE A NUCLEAR WEAPON. I said it over and over again! Everyone should immediately evacuate Tehran!" he said in a post on Truth Social.

https://www.streetinsider.com/Reuters/Trump+says+everyone+should+immediately+evacuate+Tehran/24942891.html

'Carney and Trump commit to signing new trade deal within 30 days'



Prime Minister Mark Carney and U.S. President Donald Trump expect to sign a new trade deal within 30 days, marking a major turn in bilateral relations and signalling a potential end to the ongoing trade war.


The major development came in a readout by the prime minister’s office of a roughly hour-long meeting between both leaders Monday morning.

“Prime Minister Carney and President Trump discussed immediate trade pressures and priorities for each country’s workers and businesses, and shared updates on key issues raised in negotiations on a new economic and security relationship between Canada and the U.S.,” reads the readout.
“To that end, the leaders agreed to pursue negotiations toward a deal within the coming 30 days,” it continues. The PMO clarified that meant a new deal would be signed within that timeline.



During a media availability earlier in the day, U.S. President Donald Trump said that he felt a new trade deal with Canada could be achievable shortly, but did not suggest a timeline.



In a press conference after the Trump and Carney bilateral, Canadian ambassador to the U.S. Kirsten Hillman and Canada-U.S. Trade Minister Dominic LeBlanc also said talks were accelerating with the Americans but omitted to mention the 30 day deadline.



Speaking to reporters during a photo op with Carney in the middle of their meeting, Trump said his and the prime minister’s views on tariffs differ widely.“I think we have different concepts,” said Trump on trade with Canada. “I have a tariff concept. Mark (Carney) has a different concept, which is something that some people like. But we’re going to see if we can get to the bottom of it today.”



Asked if a new deal could come within days or weeks, Trump said yes but noted that both parties had to come to an agreement.

Trump and Carney met for roughly one hour at the Pomeroy Kananaskis Mountain Lodge, half of which was one-on-one before they were joined by a coterie of advisors and their countries’ respective ambassadors.



“We’ve developed a very good relationship. And we’re going to be talking about trade and many other things,” Trump told U.S. and Canadian reporters crammed into the small meeting room.



The heads of the world’s seven most powerful economies are meeting amid a U.S.-led tariff war and global uncertainty over conflicts in the Middle East and Ukraine.



But some of Trump’s comments Monday morning already set him apart from the rest of the G7 members, such as when he said that ejecting Russia from the annual meetings in 2014 was a mistake and that he is open to adding China to the summit.Trump’s remarks at the onset of the summit Monday set the stage for what will be a high-tension two-day G7 meeting in Kananaskis, Alta.



On the opening day of the summit, Trump was sporting a lapel pin featuring both Canadian and U.S. flags for what appears to be the first time in his current presidency.



In remarks made before the media on Monday morning, Carney wished Trump a belated happy birthday, which was Saturday. Trump also told reporters that he believes China, the world’s second-largest economy, should join the leaders of the seven most advanced economies in the world.
“Well, it’s not a bad idea. I don’t mind that,” said Trump. “If somebody wants to suggest China coming in, I think we — but you want to have people that you can talk to.”



The idea is likely to raise hackles among the Canadian delegation. During the election campaign, Carney said he believed China was the greatest threat to Canada’s national security.



Trump also criticized the decision to eject Russia from the G8 in 2014, following that country’s annexation of Crimea, and said that Vladimir Putin “was very insulted” by the decision.



He also blamed former Prime Minister Justin Trudeau for pushing for Russia’s ejection, which happened while Stephen Harper was prime minister.



In fact, Russia’s membership in the G8 was suspended in March 2014. While Obama was the American president at the time, Conservative Stephen Harper was Canada’s prime minister. Months later, Harper made international headlines at the Group of 20 Summit in Australia when he admonished Putin, then Russia’s president, to “get out of Ukraine.” Russia announced in January 2017 that it was permanently leaving the G8.
“The G7 used to be the G8. Barack Obama and a person named Trudeau didn’t want to have Russia in, and I would say that that was a mistake, because I think you wouldn’t have a war right now if you had Russia in, and you wouldn’t have a war right now if Trump were president four years ago,” Trump said. “It was a mistake in that you spend so much time talking about Russia, and he’s no longer at the table, so it makes life more complicated, but you wouldn’t have had the war.”
However, while saying booting Russia from the G8 was a mistake, Trump stopped short of saying that Putin should be invited back.



“I’m not saying he should at this point, because too much water has gone over the dam, maybe. But it was a big mistake,” he said.



Following the bilateral meeting, Carney formally welcomed the other six G7 leaders during a brief ceremony before kicking off the first group session on the global economic outlook.

Trump appeared to have a slight limp while he walked towards the stage to shake Carney’s hand. On stage, the president and Carney commented on the weather, with Trump noting that weather services had predicted rain during a military parade in Washington during his birthday Saturday.

“Didn’t rain,” he added.


Monday morning’s meeting is the first since the two men met in Washington, D.C. in early May. Canada has been a major target of Trump’s trade and rhetorical belligerence. Although Trump has largely scaled back talk of annexing Canada, making its northern neighbour the 51st state, trade troubles remain top of mind for observers and Canadian diplomats. Canada will be pushing Trump this week on lowering the 50-per-cent tariffs placed on Canadian steel and aluminum and further tariffs on foreign vehicle imports.


Before flying to Canada on Sunday, Trump said, without providing any details, that he thinks “we’ll have a few new trade deals” to announce while at the G7.


“Our primary focus would be trade and trade with Canada, and I’m sure we can work something out,” Trump told reporters.


Carney told Trump that the G7 is “nothing without U.S. leadership and without your personal leadership.” Trump responded that he and Carney have developed a “very good relationship.”



Trump then took multiple other questions, about the Iran-Israel conflict and about U.S. Immigration and Customs Enforcement raids in American cities that have seen major street protests mobilized in response. Eventually, Carney stepped in, ending the questions, saying that the leaders had to get to other meetings.

https://nationalpost.com/news/canada/carney-trump-deal-different-concepts-on-trade

Incyte (INCY) Surges on Promising Blood Disorder Treatment Results

 Incyte Corporation (NASDAQ: INCY) has recently seen a notable increase in market attention, as shares climbed by 4.5% after the latest announcement showcasing positive initial results for their innovative antibody, INCA033989. The study results reveal that the treatment is especially effective for high-risk patients diagnosed with CALR-mutant essential thrombocythemia, showing significant improvement in 86% of cases, with 82% achieving a complete remission rate. Impressively, no dose-limiting toxicities were reported, highlighting the treatment's potential safety and efficacy.

https://www.gurufocus.com/news/2929457/incyte-incy-surges-on-promising-blood-disorder-treatment-results

Brazilian food giant JBS trades with a higher market cap than Tyson Foods in its U.S. debut

 JBS N.V. (NYSE:JBS) began trading on the New York Stock Exchange on June 13. Shares opened at $13.65 giving the company a market capitalization of approximately $30 billion, surpassing major competitor Tyson Foods (NYSE:TSN). Shares drifted to as high as $14.45 on Monday and were swapping hands at $14.23 at 2:25 p.m.

JBS had been pursuing a U.S. listing for over 15 years, with previous attempts delayed by operational and regulatory hurdles, as well as corruption investigations in Brazil. The move to the NYSE completed a dual listing strategy by JBS (NYSE:JBS), with shares now available in New York and Brazil's B3 exchange. 

Notably, JBS has had extensive business operations in the U.S. for nearly two decades, including the acquisition of Swift & Company in 2007, Smithfield Foods’ beef operations in 2008, and a controlling stake in Pilgrim’s Pride (PPC) in 2009.

Morgan Stanley assumed coverage of JBS' (JBS) U.S. listing with an Overweight rating and called the food stock its top pick in the Latin America food and beverage sector. The firm's price target of $21 implies ~40% upside.

"While the stock has performed well over the past 12-18 months, we see the recent weakness on the back of trading flow dynamics as an opportunity for investors to get engaged on the name. We continue to see potential for another leg up from here as JBS's valuation multiple discount to US-peers (namely TSN) gradually narrows," analyst Ricardo Alves. 

https://www.msn.com/en-us/money/topstocks/brazilian-food-giant-jbs-trades-with-a-higher-market-cap-than-tyson-foods-in-its-u-s-debut/ar-AA1GPxws

Surprise win for farmers: EPA's new biofuel blending mandates hit record highs

 In a move that surprised biofuel industry analysts and sent soybean prices skyrocketing by 25 cents, the Environmental Protection Agency (EPA) announced Friday its highest ever volume requirements for American grown biofuels in the Renewable Fuel Standard (RFS).

EPA’s renewable volume obligations (RVOs) proposal applies to 2026 and 2027, stipulating that the nation’s refiners must blend 15 billion gallons of conventional biofuels into the nation’s fuel blend for each plan year, and prioritizes domestically produced renewable fuels over imports,

The proposal includes:

  • 24.02 billion gallons (bg) for 2026, including 15 bg for conventional renewable fuels like corn ethanol and 9.02 bg for advanced biofuels — including 5.61 bg of biomass-based diesel and 1.3 bg of cellulosic biofuel.
  • 24.46 bg for 2027, of which 15 bg is conventional renewable fuel and 9.46 is advanced biofuel.

Michigan Farm Bureau Industry Relations Specialist Theresa Sisung said the improvements made in this proposal are very promising.

“Increasing renewable volume obligations and putting more of a focus on using domestically produced fuels are good news for farmers who will continue to provide feed, food and fuel to consumers,” she added.

The announcement was celebrated by Ag Secretary Brooke Rollins, who said President Donald J. Trump recognizes how important the RFS is for American corn and soybean farmers.

“This move by (EPA) Administrator Zeldin is the boldest proposal ever and will provide certainty in a much-needed market for our producers while delivering lower prices at the pump for consumers,” wrote Rollins, adding that USDA and EPA “have never been more aligned” on the need for more American grown biofuels.

Rollins said the RVOs sends a strong signal to the U.S. biofuels industry that Trump has the industyr’s backs and gives them the incentive to invest in American products for American consumers and to export around the world.

“America’s national security depends on our energy security, and biofuels are a crucial asset that brings more jobs and helps farmers in rural America,” Rollins added.

As the Trump administration expands the domestic market for biofuels, Rollins said USDA is working to break down tariff and non-tariff barriers for our American grown biofuels, adding that President Trump’s landmark deal with the U.K. secured zero tariff access for over $700 million in ethanol exports.

Renewable Fuels Association President Geoff Cooper said the proposed blending volumes provide crucial growth opportunities for U.S. ethanol producers and farmers, while boosting the supply of lower-cost, American-made energy.

“This proposal sends a very positive and powerful signal to U.S. renewable fuel producers and farmers,” Cooper said. “It represents an excellent starting point for the 2026 and 2027 RVO discussion.”

Growth Energy CEO Emily Skor called the proposed RVOs “an economic lifeline” for U.S. farmers and ethanol producers, and said it will unlock investments, create jobs, and support growth in rural America.

“Only biofuels can unlock the investments and jobs needed to strengthen the rural economy,” Skor said.

“We applaud President Trump and EPA Administrator Zeldin for keeping their promise to fight for farmers and create opportunities in rural communities that have too often been left behind.”

EPA will hold a virtual public hearing for the proposed rule on July 8.

https://www.michiganfarmnews.com/a-surprise-win-for-farmers-epa-s-new-biofuel-blending-mandates-hit-record-highs