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   DealBook: SpaceX’s index boost fizzles
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   Also, a Trump administration proposal to spur gun sales.
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             July 7, 2026
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         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Good morning. Andrew here.
         </span>
         <span>
          For years, I’ve written about how many mass shooters buy their weapons legally using credit cards, and how financial institutions could flag unusual purchases if they tried. That reporting eventually pushed the payment industry to create a
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          dedicated merchant code
         </a>
         <span>
          for gun stores, before a
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          backlash by several red states
         </a>
         <span>
          effectively outlawed the practice.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Now, a little-noticed rule proposed by the Trump administration could change how guns are purchased in a different way. It would allow customers to be vetted for firearms and buy them online, and have the weapons delivered directly to their homes — instead of picking them up in store after an in-person check. Critics warn the rule will make it easier for problematic buyers to bypass human scrutiny. We have more details below. (Was this newsletter forwarded to you?
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         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Sign up here.
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          )
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            <img alt="The logos for SpaceX and Nasdaq are seen prominently displayed on the side of a building on a bright sunny day." class="css-18ei5jy" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F07%252F07%252Fmultimedia%252F07db-spcx-ztlv%252F07db-spcx-ztlv-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3ODM0MjU4MTguOTc4MzMzN30:1wh4WY:8OooUImYCUMur6c4lxajH9rIaULLXgCm-U5d-auaTsk" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:8px" width="500"/>
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             <span style="color:#666;font:normal 14px georgia,serif">
              SpaceX’s share price has languished since its trading debut last month, surprising many market watchers.
             </span>
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em">
              Karsten Moran for The New York Times
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        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          “Forced buying”
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Shares in SpaceX are falling in premarket trading, extending a weekslong slump.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          It comes even though
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Elon Musk
         </span>
         <span>
          ’s rocket and artificial intelligence company is officially joining the Nasdaq 100 index of tech heavyweights today. The milestone — achieved via a new fast-track rule — has automatically set off a buying spree by index funds.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The underwhelming run so far by SpaceX as a public company is raising warning signs, Niko Gallogly reports.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Becoming part of a major index is supposed to
         </span>
         <span style="font-style:italic;font-weight:700;font-family:arial,sans-serif;color:#000">
          lift
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          a company’s shares.
         </span>
         <span>
          Its stock price often pops because index-tracking funds buy up the company’s shares.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          A
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          recent study
         </a>
         <span>
          by two Harvard Business School researchers, Marco Sammon and Chris Murray, found that companies that gained fast entry on the CRSP index run by Morningstar saw their shares jump an average of 5 percent.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          SpaceX drew some alarm by getting fast-tracked for entry into several big indexes. Nasdaq, FTSE Russell and CRSP changed their rules ahead of SpaceX’s I.P.O. last month, making it eligible for early inclusion. (S&amp;P Dow Jones Indices, which runs the S&amp;P 500, declined to follow suit.)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Such moves could create a volatile “
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          forced buying
         </a>
         <span>
          ” event, Hanno Lustig, a finance professor at Stanford Graduate School of Business, wrote on his Substack last month. He predicted that by yesterday, passive investors would have purchased 18.5 percent of SpaceX’s publicly traded shares.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Yet that “forced buying” hasn’t benefited SpaceX.
         </span>
         <span>
          Sammon, one of the Harvard Business School researchers, told DealBook that he expected to see SpaceX shares rally each time large tracking funds bought large blocks of the company’s stock over the past three weeks.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Instead, he said, “the price has been relatively stable.”
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          What’s happening?
         </span>
         <span>
          Hedge funds and other large investors who got in early on the SpaceX trade may have done so with an aim to quickly sell, or flip, their shares to index funds, Sammon said. Millennium Management is said to have made $3.7 billion last month with
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          “index-rebalancing” trades
         </a>
         <span>
          that sought to capitalize on forced buying moments involving index funds, Bloomberg reports.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Investors are also focused on other hot assets.
         </span>
         <span>
          Those looking to cash in on the artificial intelligence trade are increasingly focused on the stocks of memory chip makers. A big event this week is the U.S. trading debut of SK Hynix, the Korean chip giant whose existing shares have soared 238 percent in Seoul trading this year.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          SpaceX “is a mere side note,” Ivan Cosovic, the managing director of Breakout Point, a market data firm that tracks investor sentiment, told DealBook.
         </span>
        </p>
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           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span>
             HERE’S WHAT’S HAPPENING
            </span>
           </h3>
          </td>
         </tbody>
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        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Questions arise over control of the Senate.
         </span>
         <span>
          Top Democrats have
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          rescinded their endorsements
         </a>
         <span>
          of
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Graham Platner
         </span>
         <span>
          , the party’s nominee to challenge Senator
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Susan Collins
         </span>
         <span>
          in Maine, after a woman
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          publicly accused him of rape
         </a>
         <span>
          . (Platner denied the allegation but said he would “reflect” on his path forward.) The development raises questions about the race and whether Democrats can win back control of the upper chamber.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Greek companies reportedly made nearly $4 billion from shipping Russian oil.
         </span>
         <span>
          Businesses including Dynacom Tankers and the Onassis Group
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          moved the petroleum
         </a>
         <span>
          despite efforts by the Group of 7 nations to curb Moscow’s revenue from oil sales, according to The Financial Times. (Sales are allowed if they comply with a G7-mandated price cap.)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Big banks are said to be weighing a deal to help get around fee caps.
         </span>
         <span>
          Lenders including JPMorgan Chase, Bank of America and Wells Fargo are studying a deal to
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          buy a card network owned by Fiserv
         </a>
         <span>
          , according to The Wall Street Journal. The relatively small potential transaction could help them avoid limits on fees they charge on debit cards, though it’s unclear whether any of the banks will follow through.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Intervention from Washington fails to help the U.S. in the World Cup.
         </span>
         <span>
          The men’s team
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          lost to Belgium 4-1
         </a>
         <span>
          yesterday. That’s despite the presence of
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Folarin Balogun
         </span>
         <span>
          , the American star who played after senior Trump administration officials
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          petitioned FIFA
         </a>
         <span>
          to overturn a red card that would have barred him from the match. The move by FIFA drew sharp criticism, including from those who noted the close relationship between
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          President Trump
         </span>
         <span>
          and
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Gianni Infantino
         </span>
         <span>
          , the organization’s leader.
         </span>
        </p>
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           <td style="text-align:center">
            <img alt="Donald Trump Jr. is shown wearing sunglasses and smiling. " class="css-18ei5jy" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F07%252F07%252Fmultimedia%252F07db-donaldtrumpjr-guns-bkwg%252F07db-donaldtrumpjr-guns-bkwg-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3ODM0MjU4MTguOTc4ODM5Nn0:1wh4WY:kdrW0pQKBkqSQZ6kyOc504EE9RUr_bN9y_dvSk-bIRY" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:8px" width="500"/>
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            <span class="css-14cus5q" style="display:inline-block;width:83%;max-width:500px;text-align:left">
             <span style="color:#666;font:normal 14px georgia,serif">
              Donald Trump Jr. is on the board of GrabAGun, a company that sells firearms online.
             </span>
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em">
              Jakub Porzycki/Reuters
             </span>
            </span>
           </td>
          </tr>
         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          A boost for the “Amazon of guns”
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Americans may soon be able to buy guns online and have them shipped directly to their homes, thanks to a potential federal rule that could transform the firearms industry.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          And GrabAGun Digital Holdings, a company backed by
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Donald Trump Jr
         </span>
         <span>
          . that aspires to become the “Amazon of guns,” stands to profit.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          What’s happening:
         </span>
         <span>
          The Bureau of Alcohol, Tobacco, Firearms and Explosives is weighing a proposal to let licensed gun dealers ship to in-state buyers who pass an online background check. (Under the current law, buyers must pick up guns in person at stores.)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          That could benefit GrabAGun, according to
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          The Washington Post
         </a>
         <span>
          and
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Reuters
         </a>
         <span>
          . Shares in GrabAGun jumped 21 percent yesterday, its first day of trading since the reports were published.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The proposal is subject to public comment until next month. If adopted, it could take effect as soon as later this year.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          It could provide a substantial boost to GrabAGun,
         </span>
         <span>
          whose shares have fallen sharply since going public last year.
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td style="text-align:center">
            <img alt="A line chart shows the share price performance for GrabAGun over the past year." class="css-mcckse" height="535" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F07%252F07%252Fbusiness%252F07db-chart%252F07db-chart-jumbo.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3ODM0MjU4MTguOTc4OTQ0fQ:1wh4WY:tqwjZUUS3bXLH0htzxF4n3R5RPDRwoUgksBGIQXoiys" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:20px" width="500"/>
           </td>
          </tr>
         </tbody>
        </table>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          That said, the company could face competition from other firearms sellers, including GunBroker.com, and big retailers.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The Donald Trump Jr. connection:
         </span>
         <span>
          GrabAGun went public by merging with a blank-check vehicle created by 1789 Capital, an investment firm where Trump is a partner. He is also on GrabAGun’s board.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          “This creates an ease of access to be able to get into an otherwise perhaps intimidating space for a lot of people who aren’t as familiar,” Trump
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          told Fox Business
         </a>
         <span>
          last year when GrabAGun went public.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Several groups have concerns:
         </span>
        </p>
        <div style="margin:0 auto;max-width:600px;width:100%">
         <table>
          <tbody>
           <tr>
            <td style="padding:0 0 5px">
             <ul class="css-1dtd48z" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Gun-control groups have cited safety concerns, including the potential for legal buyers to buy guns on behalf of those who are otherwise prohibited from owning firearms, known as “straw buying.”
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Smaller gun store owners told Reuters they were worried about safety. They added that they could suffer financially by losing out on so-called transfer fees for background checks and ammunition purchases.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Government ethics watchdogs have raised questions about companies linked to Trump benefiting from rules made by his father’s administration.
               </span>
              </li>
             </ul>
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          A spokesman for Donald Trump Jr. told The Post that he had no role in the A.T.F. decision-making process. And the C.E.O. of GrabAGun told Reuters that neither he nor Trump knew that the potential rule change was coming.
         </span>
        </p>
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           <td class="css-36ugzx" style="padding-bottom:15px">
           </td>
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           </td>
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         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
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           <td style="border-top:0 solid #dcdcdc;padding-top:15px">
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            <div style="width:100%;text-align:center;line-height:0">
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        <p style="color:#000;font:700 12px/15px arial,sans-serif;padding-bottom:2px;letter-spacing:.8px;margin:0">
         QUOTE OF THE DAY
        </p>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          “These distillation attacks are carried out illicitly, systematically and at industrial scale to harvest U.S. A.I. capabilities across frontier labs and repackage them as their own.”
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Anthropic, in a letter to Senators Tim Scott and Elizabeth Warren about Chinese rivals unfairly
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          copying its artificial intelligence models
         </a>
         <span>
          , and calling on Washington to intervene.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The tension goes both ways: Alibaba, the Chinese tech giant, recently
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          banned employees
         </a>
         <span>
          from using Anthropic’s models for work purposes.
         </span>
        </p>
        <table width="100%">
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           </td>
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         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td style="text-align:center">
            <img alt="Klaus Schwab, the founder of the World Economic Forum, is seen in close-up turning to his right." class="css-18ei5jy" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F07%252F07%252Fmultimedia%252F07db-klaus-mvqz%252F07db-klaus-mvqz-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3ODM0MjU4MTguOTc5Mzc1Nn0:1wh4WY:rGbb29Mb1IemKFJWtBb7AtxGht-Y1ms8zziJOoCrm-A" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:8px" width="500"/>
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          <tr>
           <td class="css-1b9cqt1" style="text-align:center;width:100%;padding-bottom:15px;line-height:14px">
            <span class="css-14cus5q" style="display:inline-block;width:83%;max-width:500px;text-align:left">
             <span style="color:#666;font:normal 14px georgia,serif">
              Klaus Schwab, the founder of the World Economic Forum, at the annual meeting in Davos, Switzerland, last year.
             </span>
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em">
              Yves Herman/Reuters
             </span>
            </span>
           </td>
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         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          A Davos comeback?
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Klaus Schwab reportedly wants back in at the World Economic Forum.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          After leaving the organization last year after an investigation into allegations of misconduct, the forum’s founder has asked its board — now chaired by Larry Fink, BlackRock’s C.E.O., and André Hoffmann, Roche’s vice chairman —
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          for an advisory role
         </a>
         <span>
          , according to Emily Glazer of The Wall Street Journal.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          He’s also issuing other demands and legal threats. More from The Journal:
         </span>
        </p>
        <p class="css-14jlz04" style="font:17px/25px georgia,serif;margin:0 50px 15px;color:#666">
         <span>
          Schwab is seeking to regain access to Forum premises and communication channels as well as farewell visits for him and his wife, Hilde Schwab, to the Forum’s overseas locations, according to the documents. He is also asking the Forum to reinstate personal security for him and cover at least half of his personal legal costs related to the dispute.
         </span>
        </p>
        <p class="css-14jlz04" style="font:17px/25px georgia,serif;margin:0 50px 15px;color:#666">
         <span>
          Schwab’s recent correspondence lambasts the Forum’s board for deploying money and using advisers to diminish his legacy. The correspondence threatens legal action against the Forum’s trustees.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:20px 0 15px">
         <span>
          The Schwabs have already received a pension payment equivalent to about $7 million, as well as a typical Swiss pension, $200,000 to move the couple out of Forum offices and a private executive assistant, The Journal reports.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Part of Schwab’s justification, according to The Journal, is that the board said it had found no “material wrongdoing” in its internal inquiry. But the newspaper adds that the public statement belied findings given privately to the board by outside lawyers.
         </span>
        </p>
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         <span style="font-style:italic">
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           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span>
             THE SPEED READ
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                Proxima Fusion, a German nuclear energy start-up, has
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               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                raised 411 million
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               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                euros (about $468 million) in a funding round led by Google, XTX Ventures and the German energy company RWE. (Proxima Fusion)
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              <li style="margin:0 0 10px 0;line-height:27.5px">
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                Versant agreed to
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               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                buy Full Swing
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               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                , a golf simulation platform, from the investment firm Bruin Capital for about $530 million. (CNBC)
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                Syntiant
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                , an Intel-backed chip and software maker, and
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                Csquare
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                , a data center company backed by Brookfield, have filed to go public. (Bloomberg)
               </span>
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                again purchase F-35 fighter jets
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                , as a major NATO meeting kicks off in Ankara this week. (NYT)
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                Trump hailed a “bold” move by Walmart to
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                lower the price
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                of ground beef, Coca-Cola and other products. He also sought to
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                take credit
               </a>
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                for the move. (WSJ, NYT)
               </span>
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                “
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                The Fun Shortage Is Real
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                , and It’s Making America Miserable” (Bloomberg Businessweek)
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                IBM vacated a sprawling corporate campus in Somers, N.Y., a decade ago. Trespassing Instagrammers and TikTokers
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               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                have since taken it over
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               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                . (WSJ)
               </span>
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