
Corrections: June 10, 2025
An article on Monday about Representative Don Bacon, a Nebraska Republican, and his break with President Trump misstated the number of terms an incumbent mayor of Omaha had served before his recent election loss. It was three terms, not four.
A picture caption with an article on Friday about a new show by the photographer Elle Pérez misstated the title of an artwork, using information from the Cultural Counsel. It is 'Untitled (wet and tired flowers),' from 'La Despedida,' 2025, not 'Untitled (cut path and yellow flowers),' from 'La Despedida,' 2025.
An article on Monday about the television producer Jesse Collins misidentified the documentary in which Beyoncé requests a 30-foot camera track. It is 'Renaissance: A Film by Beyoncé,' not 'Homecoming.'
Errors are corrected during the press run whenever possible, so some errors noted here may not have appeared in all editions.
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Trump Secures Sweeping Policy Shift as House Passes Bill
Good morning. Trump's 'big, beautiful bill' finally crosses the finish line. Vietnam's trade pact with the US leaves fellow Asian governments in a tough spot. And Hyundai's new futuristic factory needs a hand to expand. Listen to the day's top stories. Donald Trump won final passage of his signature tax and spending bill on a 218-214 vote in the House, the culmination of a bruising campaign to satisfy conservative Republicans in Congress. Democratic Leader Hakeem Jeffries didn't let that victory come easy: He delivered a record-setting hours-long speech to delay the vote and lambast the package as 'reckless' and 'immoral.' Here's a full guide to the legislation and a snapshot of who stands to win or lose.
Yahoo
40 minutes ago
- Yahoo
Dr. Phil's TV network files for bankruptcy and sues distribution partner
Merit Street Media, the TV network launched last year by talk show host Phil McGraw, has filed for bankruptcy protection from creditors and is suing its distribution partner, Trinity Broadcasting Network. McGraw's company filed the suit Thursday in U.S. Bankruptcy Court claiming Fort Worth-based Christian media firm Trinity, or TBN, failed to meet its obligations to provide studio space and secure TV stations and pay TV distributors to carry Merit. McGraw, who hosted the successful syndicated talk show "Dr. Phil" for 21 years, entered a joint venture in 2023 with Trinity, which agreed to carry Merit on its TV stations across the country and provide production services. But according to the suit, McGraw is funding the struggling venture out of his pocket — shelling out $25 million over six months. The company laid off 40 employees in June and had to terminate its TV deal with Professional Bull Riders after failing to pay its rights fee. Merit Street's Chapter 11 bankruptcy filing lists the company's liabilities at $100 million to $500 million. The document, filed in Texas, gives the same range for the value of Merit Street's assets. Like TBN, Merit Street is based in Fort Worth. TBN did not respond to a request for comment on the suit. Merit Street carries "Dr. Phil Primetime," in which the host delivers right-of-center political commentary as well as guest interviews. The program was put on summer hiatus when the June layoffs were announced. McGraw recently attracted attention when the show had a camera embedded with ICE during immigration raids in Los Angeles. McGraw, once a practicing psychologist, became a self-help guru propelled to fame by Oprah Winfrey, who hired him to help prepare her for a libel case brought by the Texas Beef Group in 1996. Since leaving his daily talk show, he has emerged as a political commentator who is supportive of President Trump. Read more: Inside CBS News: Fear, anger and a silver lining after Paramount-Trump settlement Merit also has a nightly newscast and a true crime program featuring veteran legal commentator Nancy Grace. The lawsuit claims Merit's operations were hampered by TBN's contracted technical services, which it described as "comically dysfunctional." Teleprompters and monitors allegedly blacked out during live programs with a studio audience. TBN was using "amateur" video editing software and Merit staff were unable to use phones in the studio due to poor cellphone coverage, the suit added. McGraw's company, Peteski Productions, launched Merit in a joint venture with TBN, which offers religious programming to its TV stations and affiliates across the country. As the majority owner, TBN was required to provide all back office and production services for Merit. TBN was also obligated to cover the cost of distributing Merit's programs on its outlets and pay TV providers, the suit said. The lawsuit claims TBN failed to provide that service, forcing Merit Street to enter its own agreements to get the network carried on TV stations and cable and satellite providers at a cost of $96 million. TBN's failure to pay led to a number of TV stations to drop Merit Street programming. The suit also claims TBN failed to deliver promised marketing and promotional services, only providing minimal social media advertising. TBN missed a $5-million payment to Merit in July 2024, which led the partners to change the terms of their arrangement, the complaint said. Merit became the 70% owner, with TBN taking a 30% stake. But the suit claims TBN still failed to meet its contractual obligations. The suit said that TBN's failure to fund Merit forced McGraw and Peteski to provide $25.4 million to finance the network's operations from December 2024 to May 2025. Sign up for our Wide Shot newsletter to get the latest entertainment business news, analysis and insights. This story originally appeared in Los Angeles Times.


Forbes
an hour ago
- Forbes
Shifting Sands: UAE's Business Evolution Amid US Uncertainty
Forced or organically, the world continues to evolve beyond the United States. It's not the United States is less important – it's just that our constant policy swings from Republican to Democrat Administration's and back have pushed the rest of the world to plan for a less US-centric world, to develop their own markets and trade partnerships, and invest in the industries of the future. At the recent Make it in the Emirates conference in Abu Dhabi, the ambivalence of the world towards the United States was on clear display. On the one hand, UAE officials – from government leaders to investment funds and corporate leaders, were bullish on the United States after the successful visit by President Trump's to the region a few weeks ago. The UAE announced a $10 billion collaboration on artificial intelligence with the United States - officially to build modern AI chips and create joint research facilities. In reality, the UAE will be building data centers for US companies, subsidizing the energy costs of AI, and will receive tech transfer in return. But both sides hope that it leads to greater research collaboration down the line. On the other hand, the 500 exhibitors at the event – manufacturers of everything from autos to food products, were not talking about US markets. They were talking about expansion towards Asia – (South Asia, East Asia and Australia), and towards Eastern Europe, Turkey and the Central Asian republics. The most common refrain was that the United States might changes the rules in the middle of the game – and that's if they even get visas to do business. Financiers line up to support UAE Manufacturing Alongside manufacturers, the banking and financial sectors had a strong presence, including home-grown fintech's providing a range of services to consumers and business. These were not just government-backed entities, but also consumer-facing fintechs, vendor financing arms and family offices. An interesting startup that has been rapidly growing in the UAE is amana, a fintech company with over 350,000 users and rapid recent growth. Founded in 2022 by Zaid Aboujeh and Karim Farra, a Wharton MBA and YPO member, amana is an online platform for trading stocks, crypto and other assets. When US tariffs were announced, traders flocked to its site to quickly adjust their portfolios; benefiting from the ability to balance their portfolios across multiple assets, including crypto, in one platform – an opportunity not available historically to many in the region. With uncertainty in the mainstream economy, it's not a surprise that crypto trading has been a key growth driver this year as well. amana has over 450 coins available for trading and investing - with 68% of amana's active traders engaging in crypto alongside other assets, while 20% trade only crypto. In a region that has long limited access to capital to the connected, elite and certain national groups– amana and others are democratizing market access and providing services for a rapidly growing financial ecosystem. The UAE, Saudi Arabia, Qatar and other countries in the region have two advantages that fintech's like amana can take advantage of – a strong digital public infrastructure where most residents are connected electronically, and a large population from South Asia that is very comfortable with online banking and fintech services. Beyond that, amana says that 20% of its usage last year came from Lebanon, and future growth will come from large, emerging markets in the region, including Egypt, Bahrain, Qatar and Jordan. The Founders of amana There are other signs that the UAE and other nations are clearly taking advantage of US policy fluctuations to build their own competitive advantages. 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The growth of startups like amana, the investments in the manufacturing and tech sectors, alongside free trade zones and an improved financial ecosystem suggest a country, and region, committed to growth. Similar growth is occurring across the GCC, including Saudi Arabia and Qatar. The implications for the United States may not be much at first glance. The Trump Administration has backed off on tariffs just as fast as its announced them in many cases. As a result, the UAE and other nations may not have time to launch all of these efforts to take advantage of US policy – there may be a completely different policy in place in 4 months and certainly again in 3 years. But that uncertainty makes the investment all the more critical for them and concerning to the United States.