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LAS VEGAS — When Susana Pacheco accepted a housekeeping job at a casino on the Las Vegas Strip 16 years ago, she believed it was a step toward stability for her and her 2-year-old daughter.

But the single mom found herself exhausted, falling behind on bills and without access to stable health insurance, caught in a cycle of low pay and little support. For years, she said, there was no safety net in sight — until now.

For 25 years, her employer, the Venetian, had resisted organizing efforts as one of the last holdouts on the Strip, locked in a prolonged standoff with the Culinary Workers Union. But a recent change in ownership opened the Venetian’s doors to union representation just as the Strip’s newest casino, the Fontainebleau, was also inking its first labor contract.

The historic deals finalized late last year mark a major turning point: For the first time in the Culinary Union’s 90-year history, all major casinos on the Strip are unionized. Backed by 60,000 members, most of them in Las Vegas, it is the largest labor union in Nevada. Experts say the Culinary Union’s success is a notable exception in a national landscape where union membership overall is declining.

“Together, we’ve shown that change can be a positive force, and I’m confident that this partnership will continue to benefit us all in the years to come,” Patrick Nichols, president and CEO of the Venetian, said shortly after workers approved the deal.

Pacheco says their new contract has already reshaped her day-to-day life. The housekeeper no longer races against the clock to clean an unmanageable number of hotel suites, and she’s spending more quality time with her children because of the better pay and guaranteed days off.

“Now with the union, we have a voice,” Pacheco said.

These gains come at a time when union membership nationally is at an all-time low, and despite Republican-led efforts over the years to curb union power. About 10% of U.S. workers belonged to a union in 2024, down from 20% in 1983, the first year for which data is available, according to U.S. Bureau of Labor statistics.

President Donald Trump in March signed an executive order seeking to end collective bargaining for certain federal employees that led to union leaders suing the administration. Nevada and more than two dozen other states now have so-called “right to work” laws that let workers opt out of union membership and dues. GOP lawmakers have also supported changes to the National Labor Relations Board and other regulatory bodies, seeking to reduce what they view as overly burdensome rules on businesses.

Ruben Garcia, professor and director of the workplace program at the University of Nevada, Las Vegas law school, said the Culinary Union’s resilience stems from its deep roots in Las Vegas, its ability to adapt to the growth and corporatization of the casino industry, and its long history of navigating complex power dynamics with casino owners and operators.

He said the consolidation of casinos on the Las Vegas Strip mirrors the dominance of the Big Three automakers in Detroit. A few powerful companies — MGM Resorts International, Caesars Entertainment and Wynn Resorts — now control most of the dozens of casinos along Las Vegas Boulevard.

“That consolidation can make things harder for workers in some ways, but it also gives unions one large target,” Garcia said.

That dynamic worked in the union’s favor in 2023, when the threat of a major strike by 35,000 hospitality workers with expired contracts loomed over the Strip. But a last-minute deal with Caesars narrowly averted the walkout, and it triggered a domino effect across the Strip, with the union quickly finalizing similar deals for workers at MGM Resorts and Wynn properties.

The latest contracts secured a historic 32% bump in pay over the life of the five-year contract. Union casino workers will earn an average $35 hourly, including benefits, by the end of it.

The union’s influence also extends far beyond the casino floor. With its ability to mobilize thousands of its members for canvassing and voter outreach, the union’s endorsements are highly coveted, particularly among Democrats, and can signal who has the best shot at winning working-class votes.

The union’s path hasn’t always been smooth though. Michael Green, a history professor at UNLV, noted the Culinary Union has long faced resistance.

“Historically, there have always been people who are anti-union,” Green said.

Earlier this year, two food service workers in Las Vegas filed federal complaints with the National Labor Relations Board, accusing the union of deducting dues despite their objections to union membership. It varies at each casino, but between 95 to 98% of workers opt in to union membership, according to the union.

“I don’t think Culinary Union bosses deserve my support,” said one of the workers, Renee Guerrero, who works at T-Mobile Arena on the Strip. “Their actions since I attempted to exercise my right to stop dues payments only confirms my decision.”

But longtime union members like Paul Anthony see things differently. Anthony, a food server at the Bellagio and a Culinary member for nearly 40 years, said his union benefits — free family health insurance, reliable pay raises, job security and a pension — helped him to build a lasting career in the hospitality industry.

“A lot of times it is an industry that doesn’t have longevity,” he said. But on the Strip, it’s a job that people can do for “20 years, 30 years, 40 years.”

Ted Pappageorge, the union’s secretary-treasurer and lead negotiator, said the union calls this the “Las Vegas dream.”

“It’s always been our goal to make sure that this town is a union town,” he said.

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President Donald Trump alleged that Senate Democrats are possibly delaying his nominees in exchange for money in a heated post on Truth Social Sunday night.

In the post, Trump accused Senate Democrats, led by Senate Minority Leader Chuck Schumer, D-N.Y., of slowing down the confirmations of more than 150 executive nominees.

‘Democrats, lead[sic] by Cryin’ Chuck Schumer, are slow walking my Nominees, more than 150 of them. They wanted us to pay, originally, two billion dollars for approvals. The Dems are CRAZED LUNATICS!!!’ the post read.

He implied that Democrats were leveraging the process to extract funding agreements — a tactic his associates have described as ‘political extortion.’

Senate Majority Leader John Thune, R-S.D., met with Schumer recently to discuss an offer during ongoing negotiations, but they have not readdressed it directly since choosing to communicate through intermediaries, according to Thune.

While Trump has urged the Senate to make quick moves, Democrats continue to block more nominees than normal.

‘I think they’re desperately in need of change,’ Thune said of Senate rules Saturday after negotiations with Schumer and Trump broke down. ‘I think that the last six months have demonstrated that this process, nominations is broken. And so I expect there will be some good robust conversations about that.’

Historically, nominees have been confirmed unanimously or by voice vote quickly, but Senate Dems have been reportedly forcing roll-call votes on many of the current nominees.

Thune told Fox News Digital that not much headway was being made as ‘the Dems are dug in on a position that’s just not working.’

Senate Republicans want to strike a deal that would send nominees with bipartisan support through committee to lightning-fast votes on the floor, but Schumer has not relented.

Trump’s claims come after the Senate left Saturday for a month-long August recess without coming to a deal on advancing dozens of nominees, which prompted him to post on Truth Social that Schumer could ‘GO TO HELL.’

Fox News Digital’s Alex Miller contributed to this report.

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Former Vice President Kamala Harris is back in the national spotlight with her forthcoming book about her short-lived 2024 White House campaign, and she is generating a buzz about whether she’ll try again in 2028.

While politicos are keenly watching Harris for her next moves, she’s also being eyed by House Oversight Committee Chair James Comer, R-Ky., who is investigating whether top Biden administration officials covered up evidence of a mental decline in former President Joe Biden.

Comer all but guaranteed his committee would be contacting Harris during an appearance on ‘The Ingraham Angle’ last week. He joined Fox News Channel just after Harris announced she would not be running for governor of California, as some have speculated, and will instead embark on a listening tour to hear from Americans and try to boost fellow Democrats across the country. 

‘I think that that’s another great thing about Kamala Harris not running for governor – she’s gonna have more time to come before the House Oversight Committee and testify about Joe Biden’s cognitive decline,’ Comer said. ‘So I think that the odds of Kamala Harris getting a subpoena are very high.’

During a recent appearance on ‘The Late Show with Stephen Colbert,’ Harris distanced herself from any immediate electoral ambitions. She emphasized she wanted to hear from all voters, however, not necessarily ruling out a future presidential run.

‘I believe, and I always believed, that as fragile as our democracy is, our systems would be strong enough to defend our most fundamental principles. And I think right now that, they’re not as strong as they need to be,’ Harris said.

‘And I just don’t want to for now, I don’t want to go back in the system. I want to, I want to travel the country. I want to listen to people. I want to talk with people. And I don’t want it to be transactional, where I’m asking for their vote.’

Jonathan Turley, a Fox News contributor and professor at George Washington University Law School, told Fox News Digital the optics of a congressional subpoena would be less than ideal for a potential 2028 candidate.

‘This is a tough question for Harris, who clearly has aspirations to run again,’ Turley said when asked if he would advise Harris to appear. ‘The committee can compel her to appear. However, the optics of forcing a subpoena are not exactly optimal for someone who wants to run again for this office.’

He added, however, that Harris would be a ‘natural’ target for Comer’s probe.

‘Harris held a unique spot within the inner circle of the White House,’ Turley said.

But both he and former House Oversight Committee ChairTrey Gowdy, R-S.C., now a Fox News Channel host, were doubtful that bringing Harris in would yield much new information.

‘Is it worth investigating? Absolutely. Is it worth getting her take on it? Yeah. Is she going to cooperate? No,’ Gowdy told Fox News Digital. 

The former South Carolina congressman, who also served as a federal prosecutor, predicted that Harris’ lawyers would seek to bury any potential appearance in a quagmire of legal proceedings stemming from executive and/or presidential privilege claims.

‘That privilege has been invoked by both parties repeatedly during congressional investigations,’ Gowdy said.

‘Leaving the names out of it, just for the sake of an analogy, I can’t think of an advisor that would be closer to a president than his or her vice president. So, by the time you’re litigating the issue of whether or not you can compel a vice president to talk about conversations that he or she had with a chief of staff, with a spouse, with the president, with the president’s physician – you’ll be as old as I am by the time that’s litigated.’

Turley said House investigators would have to be armed with ‘specific’ questions to avoid someone like Harris being able to answer with ‘a matter of opinion.’

Gowdy agreed Harris was a ‘legitimate’ witness to bring in and that the issue of Biden’s autopen use, particularly for pardons, ‘warrants further scrutiny.’

He warned, however, that a potent subpoena comes with consequences for noncompliance.

‘Prosecutors can send cops and have [people] brought in. Congress can’t do that. Judges can send the marshals or the sheriff’s deputies out to bring a witness in if the witness is recalcitrant. Congress can’t do that,’ Gowdy said. ‘So your power is only as good as what you can do to enforce it.’

A spokesperson for Biden declined to comment on Comer’s subpoena threat when reached by Fox News Digital.

Spokespeople for Harris and House Oversight Committee Democrats did not return requests for comment.

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Centers for Medicare and Medicaid Services (CMS) administrator Dr. Mehmet Oz says the Trump administration plans to invest more than $200 billion ‘more dollars’ into Medicaid following the passage of the ‘One Big Beautiful Bill.’ 

‘I’m trying to save this beautiful program, this noble effort, to help folks, giving them a hand up,’ Oz told CBS’ ‘Face the Nation’ on Sunday.

‘And as you probably gather, if Medicaid isn’t able to take care of the people for whom it was designed, the young children, the dawn of their life, those who are twilight of their lives, the seniors, and those who were disabled living in the shadows, as Hubert Humphrey said, then we’re not satisfying the fundamental obligation of a moral government,’ he continued. 

Oz, the 17th administrator for CMS, said the government wants ‘an appropriate return’ on the Medicaid investment. He addressed the difference in drug costs between the U.S. and Europe, adding that work is being done by the administration in an attempt to bring drug prices down.  

Last week, the Trump administration announced it is launching a new program that will allow Americans to share personal health data and medical records across health systems and apps run by private tech companies, promising that this will make it easier to access health records and monitor wellness.

CMS will be in charge of maintaining the system, and officials have said patients will need to opt in for the sharing of their medical records and data, which will be kept secure.

Those officials said patients will benefit from a system that lets them quickly call up their own records without the hallmark difficulties, such as requiring the use of fax machines to share documents, that have prevented them from doing so in the past.

‘We’re going to have remarkable advances in how consumers can use their own records,’ Oz said during the White House event.

CMS already has troves of information on more than 140 million Americans who enroll in Medicare and Medicaid. Earlier this month, the federal agency agreed to hand over its massive database, including home addresses, to deportation officials.

The Associated Press contributed to this report. 

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Officials from the first Trump administration are alleging they received notices from Google shortly before they returned to office that they were being probed by the FBI under the Biden administration and the web giant was unable to tell them because of a court order. 

Dan Scavino, who is now White House Deputy Chief of Staff and assistant to the president, described the matter as ‘Biden lawfare’ kicking in after he ‘patriotically and proudly’ served during Trump’s first term. 

‘Google received and responded to a legal process issued by the Federal Bureau of Investigation compelling the release of information related to your Google account. A court order previously prohibited Google from notifying you of the legal process…’ Scavino shared on X from an email he said he received from Google five weeks before Trump returned to the White House. 

‘I’ve never shared this — but this is a small taste of the INSANITY that many of us went through — right here in the United States of America. LAWFARE at its finest. A Complete and Total Disgrace!!!!!’ he added. 

Less than a half-hour after Scavino’s post, FBI Director Kash Patel responded to him saying ‘I got one of those too…’ 

Jeff Clark, the current acting administrator of the Office of Information and Regulatory Affairs, then chimed in Saturday morning, saying that he, too, received a similar message.

‘Indeed, a whole Jack Smith team was assigned to go through my emails after there was a privilege review,’ Clark wrote on X in reference to the former special counsel. 

‘But that group of lawyers ignored my religious pastor privilege, marital privilege, and other privileges and basically shipped all they could to Jack Smith. But it still cost me tens of thousands to try to protect my communications,’ he added. 

Smith was tapped by former Attorney General Merrick Garland to probe allegations that Trump sought to overturn the 2020 election results, and later investigated the handling of classified documents that were uncovered during a raid at Trump’s Mar-a-Lago compound. 

‘My medical records and other private communications had nothing to do with the 2020 election. They were no one’s business. But it didn’t matter to these thugs with law degrees and the willingness to abuse government power,’ Clark said Saturday.  

‘They were trying to bait me to go to court to get them to destroy their secret copies of the emails, so they could try to break even my lawyer-client privilege with President Trump. But my team and I didn’t fall for it,’ Clark also said. ‘Moreover, the whole thing was a blatant attempt to intimidate me. It didn’t work and I didn’t fold under the pressure.’ 

The FBI did not immediately respond Saturday to a request for comment from Fox News Digital. 

Fox News’ Alex Miller contributed to this report. 

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The path to a deal on confirming a slew of President Donald Trump’s nominees appeared shaky at best in the Senate Saturday, as Republicans and Democrats sparred over terms and conditions to find a way forward.

Senators were supposed to be long gone from Washington by now, but Trump’s demands to ram his nominees through Senate Democrats’ historic blockade have kept lawmakers in town. But by late afternoon, not much progress had been made.

When asked if any headway had been made, Senate Majority Leader John Thune, R-S.D., told Fox News Digital, ‘Unfortunately, not really, no.’

‘The Dems are dug in on a position that’s just not working,’ he said.

Negotiations have been ongoing among Republicans, Democrats and the White House. Thune and Senate Minority Leader Chuck Schumer, D-N.Y., met last night to discuss an offer from Democrats. The two have not spoken directly since then, instead communicating through intermediaries, Thune said. However, he expected they would talk again later Saturday.

Senate Republicans want to strike a deal that would see nominees that made it through committee with bipartisan support get lightning-fast votes on the floor, but Schumer has not relented.

A source familiar with negotiations said Senate Democrats are looking for deals on the release of funding withheld by the White House and a guarantee that there will be no future rescissions packages — a particular sticking point for them heading into the looming deadline to fund the government. In exchange, they are offering a tranche of nominees to go ahead now, and another round later in the fall.

But Trump, who is at his Bedminster, N.J., golf course, has demanded that lawmakers stay in town and pass the entire slate of nominees on the Senate calendar, which has ballooned to over 150.

The president lauded Senate Republicans in a post to Truth Social on Saturday ‘for fighting, over the Weekend and far beyond, if necessary, in order to get my great Appointments approved, and on their way to helping us MAKE AMERICA GREAT AGAIN!’

‘The Radical Left Democrat Senators are doing everything possible to DELAY these wonderful and talented people from being approved,’ he said. ‘If George Washington or Abraham Lincoln were up for approval, the Dems would delay, as long as possible, then vote them out.’

While Republicans have confirmed well over 100 of the president’s nominees, the only pick to make it to the floor without objection was Secretary of State Marco Rubio. 

Not a single one of Trump’s nominees has gotten a voice vote or gone through unanimous consent, two floor actions that have been routinely used to advance nominees in the upper chamber throughout the years. At this point four years ago, 49 of former President Joe Biden’s picks had been confirmed by voice vote.

Sen. Markwayne Mullin, R-Okla., explained that Republicans have three options that they have enough support among the conference to move forward with: reach a deal with Democrats; adjourn the Senate and give the president runway for recess appointments and finally, a rules-change package, which some Republicans consider the ‘nuclear option.’

On recess appointments, a move floated since before Trump took office, Sen. Eric Schmitt, R-Mo., contended it would be up to Democrats whether Republicans actually went through with it.

‘The Democrats’ obstruction is leading to, in very short order, us taking the necessary actions to give the President power to make recess appointments,’ he said.

While it would be a touchy move that would set off a firestorm among Democrats, Republicans aren’t afraid to move ahead with a rules change. When asked if a rule change should be done before lawmakers leave town, Sen. Kevin Cramer, R-N.D., said ‘I think that’d be best.’

But the preference is to strike a deal, preferably on a potential package on over 60 nominees that were advanced out of committee in a bipartisan fashion.

‘The reason why we’re that way is because Schumer led us down this road,’ Mullin said. ‘He didn’t have to do it this way.’

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The stock market’s momentum from earlier this week, which saw the S&P 500 (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) reach new record highs, came to a halt on Friday (August 1).

Investors were reacting to a series of mixed tech earnings reports. Many were accompanied by cautious forward-looking guidance despite strong top-line numbers. This sentiment was further soured by fresh economic data out of the US showing that while employment remains strong, there are signs inflation is reaccelerating.

The most significant blow, however, came from geopolitical developments that reignited global trade tensions, prompting new fears of retaliatory tariffs and the potential for a renewed surge in inflation.

1. Samsung and Tesla strike deal

Tesla (NASDAQ:TSLA) CEO Elon Musk announced a US$16.5 billion deal with Samsung Electronics (HKEX:2814) that would see the electronics conglomerate produce AI6 semiconductors for the carmaker until 2033.

Production will take place at Samsung’s new fab in Taylor, Texas. The news led to a 6.8 percent rise in Samsung’s shares on Monday (July 28), as well as a 1 percent increase for Tesla. Last week, the carmaker saw its share price decline after reporting a 12 percent drop in revenue, marking its biggest quarterly decline in over 10 years.

Musk called the deal’s strategic importance “hard to overstate’ in a post on X. “Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress. And the fab is conveniently located not far from my house,” Musk added in another post.

“The $16.5B number is just the bare minimum,” he also said. “Actual output is likely to be several times higher.”

2. Bell Canada and Cohere partner on sovereign AI

BCE (TSX:BCE,NYSE:BCE) and Canadian artificial intelligence (AI) company Cohere announced a partnership on Monday that will see them work together to provide AI services to Canadian companies and government agencies.

The deal is focused on sovereign AI, meaning all data will stay within Canada.

“At a critical time for Canada, we’re proud to partner with Cohere to create a sovereign, full-stack AI solution, custom-built to support the Canadian government and business. Working together, we will both transform Canadian businesses through cutting-edge AI capabilities, while ensuring that the data remains secure and within Canada,” said Mirko Bibic, president and CEO of BCE, previously known as Bell Canada Enterprises.

“Our partnership with Bell Canada will provide the Canadian government and enterprises with world-class options for sovereign, security-first AI,’ added Aidan Gomez, co-founder and CEO of privately owned Cohere.

This has the potential to be truly transformative for organizations looking to massively increase their productivity and efficiency without any compromise on data security and privacy.’

Under the terms of the deal, Bell will provide the physical infrastructure, including its national network and data centers. Meanwhile, Cohere will provide its powerful AI models to offer a secure, all-in-one AI solution. This helps Canadian organizations adopt new technology. It also ensures their sensitive information is kept safe at home.

3. Palo Alto Networks to acquire CyberArk

On Wednesday (July 30), Palo Alto Networks (NASDAQ:PANW) announced plans to acquire Israeli AI cybersecurity firm CyberArk Software. The Wall Street Journal had reported on Tuesday (July 29) that they were in talks.

Under the terms of the agreement, CyberArk shareholders will receive US$45 cash and 2.2005 shares of Palo Alto per share of CyberArk. Palo Alto expects the transaction to be immediately accretive to its revenue growth and gross margin, and accretive to free cash flow per share in fiscal year 2028.

In a press release announcing the acquisition, Nikesh Arora, chairman and CEO of Palo Alto, said:

“Our market entry strategy has always been to enter categories at their inflection point, and we believe that moment for Identity Security is now. This strategy has guided our evolution from a next-gen firewall company into a multi-platform cybersecurity leader. Today, the rise of AI and the explosion of machine identities have made it clear that the future of security must be built on the vision that every identity requires the right level of privilege controls, not the ‘IAM fallacy’. CyberArk is the definitive leader in Identity Security with durable, foundational technology that is essential for securing the AI era. Together, we will define the next chapter of cybersecurity.”

Udi Mokady, founder and executive chairman of CyberArk, called the news a ‘profound moment in CyberArk’s journey,’ saying that they combination will accelerate the mission it began more than two decades ago.

Palo Alto Networks performance, July 29 to August 1, 2025.

Chart via Google Finance.

The deal is expected to close in the second half of Palo Alto’s 2026 fiscal year, subject to regulatory and CyberArk shareholder approval. Although Palo Alto hit a high of US$210.39 on Tuesday, shares of the company declined by 5 percent following the announcement and closed 17.83 percent below Tuesday’s high.

4. Microsoft, Meta, Amazon and Apple report quarterly results

Microsoft (NASDAQ:MSFT) ended its fourth fiscal quarter of 2025 with record revenue, driven by strong AI and cloud service growth. Microsoft Cloud revenue exceeded US$168 billion, a 23 percent increase, and Intelligent Cloud, including Azure, grew 26 percent to US$29.9 billion, with Azure up 39 percent. Although significant AI investments (over 100 million monthly Copilot users) caused a slight gross margin dip, the firm’s operating income rose 23 percent.

CEO Satya Nadella expressed confidence in long-term growth. For her part, CFO Amy Hood noted that commercial bookings surpassed US$100 billion; she anticipates double-digit revenue and operating income growth in the 2026 fiscal year, though data center capacity may remain constrained through the first half of the period.

Meta Platforms (NASDAQ:META) also had a positive Q2, with revenue up 22 percent to US$47.52 billion and net income up 36 percent to US$18.34 billion. Earnings per share rose 38 percent to US$7.14.

CEO Mark Zuckerberg highlighted the company’s focus on “personal superintelligence.”

The Family of Apps saw daily active people increase 6 percent to 3.48 billion, and advertising revenue grew with impressions up 11 percent and average price per ad up 9 percent.

Q3 revenue is projected to be US$47.5 billion to US$50.5 billion. However, regulatory challenges in the EU could impact European revenue. Meta is also heavily investing in AI and infrastructure, with 2025 capital expenditures narrowed to US$66 billion to US$72 billion, and similar growth expected in 2026.

Microsoft, Apple, Meta Platforms and Amazon performance, July 29 to August 1, 2025. 

Chart via Google Finance.

Amazon (NASDAQ:AMZN) delivered a strong second quarter, with overall net sales growing 13 percent year-on-year to $167.7 billion. The company’s net income also saw a significant increase, rising 35 percent year-on-year to $18.16 billion.

The growth was fueled by strong performance across all three of its major segments. The North America segment, which accounted for 60 percent of total net sales, saw a revenue increase of 11 percent year-on-year to $100.07 billion.

The International segment saw its net sales grow by 16 percent year-on-year to $36.76 billion, with a particularly notable 448 percent increase in operating income. Amazon Web Services continued its steady performance, with net sales reaching $30.87 billion, up 17 percent year-on-year. Despite its strong revenue growth, the company’s trailing 12 month free cashflow declined by 66 percent year-on-year to $18.18 billion.

Finally, Apple (NASDAQ:AAPL) posted strong results for its third fiscal quarter of 2025, with total net sales increasing to US$94.04 billion, up from US$85.78 billion in the same quarter last year.

The company’s net income rose to US$23.43 billion, an increase from US$21.45 billion year-on-year. This performance translated to earnings per share of US$1.57, up from US$1.40 in the prior year. The growth was primarily driven by its products and services, with the iPhone and Mac categories seeing notable increases in net sales. Apple’s services segment also continued its expansion, with sales rising to US$27.42 billion from US$24.21 billion a year ago.

5. Figma makes public debut

Figma’s highly anticipated initial public offering (IPO) generated significant buzz this week, with its share price and valuation surging dramatically on its first day of trading.

On Monday, Figma increased its IPO price range to US$30 to US$32 a share, up from US$25 to US$28. This new pricing valued the company at up to a US$18.7 billion market cap and a US$17.2 billion enterprise value. According to Bloomberg, people familiar with the matter indicated that the IPO was approaching 40 times oversubscribed.

The company had its first day of trading on the NYSE on Thursday (July 31).

Figma’s shares surged by 250 percent from US$33 to US$115 following a blockbuster IPO, with the company raising US$1.22 billion. Its market cap reached US$67 billion by the end of the market’s close. On Friday, Figma opened at US$134.82 before pulling back alongside other major tech stocks and risk assets to finish the week at US$122. Its debut surge and end-of-day valuation made it one of the largest and most successful tech IPOs in recent memory.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Hours of tense negotiations to strike a deal on President Donald Trump’s nominees blew up Saturday night, and now lawmakers are headed home.

Senate Republicans and Democrats were quick to point the finger at one another for the deal’s demise, but it was ultimately Trump who nuked the talks.

In a lengthy post on his social media platform Truth Social, Trump accused Senate Minority Leader Chuck Schumer, D-N.Y., of ‘demanding over One Billion Dollars in order to approve a small number of our highly qualified nominees.’

‘This demand is egregious and unprecedented, and would be embarrassing to the Republican Party if it were accepted. It is political extortion, by any other name,’ Trump said. ‘Tell Schumer, who is under tremendous political pressure from within his own party, the Radical Left Lunatics, to GO TO HELL!’

‘Do not accept the offer,’ he continued. ‘Go home and explain to your constituents what bad people the Democrats are, and what a great job the Republicans are doing, and have done, for our Country. Have a great RECESS and, MAKE AMERICA GREAT AGAIN!!!’

Instead of finding a pathway to vote on as many as 60 of the president’s nominees, all of which moved through committee with bipartisan support, lawmakers rapid-fire voted on seven before leaving Washington until September.

But Schumer treated Trump’s move as a victory for Senate Democrats. He countered that it was the president who gave up on negotiations while he and Senate Majority Leader John Thune, R-S.D., worked to find a bipartisan solution, ‘provided the White House and Senate Republicans met our demands.’

‘He took his ball, he went home, leaving Democrats and Republicans alike wondering what the hell happened,’ Schumer said, standing next to a poster-sized version of the president’s post. 

‘Trump’s all-caps Tweet said it all,’ he continued. ‘In a fit of rage, Trump threw in the towel, sent Republicans home, and was unable to do the basic work of negotiating.’

But prior to the president’s edict, both sides of the aisle believed they were on the verge of a breakthrough to both meet Trump’s desire to see his nominees confirmed and leave Washington.

said that there were ‘lots of offers’ made between him and Schumer over the course of negotiations.

‘There were several different times where I think either or both sides maybe thought there was a deal in the end,’ he said.

Senate Democrats wanted the White House to unfreeze billions in National Institute of Health and foreign aid funding, in addition to a future agreement that no more clawback packages would come from the White House.

In exchange, they would greenlight several of Trump’s non-controversial nominees.

Sen. Markwayne Mullin, R-Okla., accused Schumer of going ‘too far’ by upping the price tag on his demands.

‘We’ve had three different deals since last night,’ he said. ‘And every time it’s been, every time it’s ‘I want more,’’ Mullin said of Schumer’s demands.

He said that Republicans weren’t caught off guard by Trump’s call to halt talks, and noted that the White House had been heavily involved in negotiations.

‘You get to a realization that there was, it was never about making a deal,’ he continued. ‘They want to go out and say the President’s being unrealistic, and because he can’t answer to his base to make a deal like we have in every other president in history.’

Now, Republicans won’t pursue recess appointments, but Mullin noted that moving ahead with a rule change to the confirmation process when lawmakers return in September was going to happen in response.

‘The asks evolved on both sides quite a bit over time,’ Thune said. ‘But in the end, we never got to a place where we had both sides agree to lock it in.’

Senate Democrats, on the other hand, countered that their offer never changed, and that Republicans kept increasing the number of nominees they wanted across the line, and attempted to include more controversial, partisan picks.

Schumer wouldn’t reveal the details of his demands, but charged that any changes to Senate rules would be a ‘huge mistake,’ and urged Trump to work with Senate Democrats moving forward, particularly as Congress hurtles toward yet another deadline to fund the government in September. 

‘They should stop listening to him,’ Schumer said. ‘If they want to do what’s good for the American people, they shouldn’t be in blind obeisance to Donald Trump.’
 

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The Senate on Saturday confirmed Jeanine Pirro, President Donald Trump’s pick to serve as Washington D.C.’s top prosecutor, as lawmakers failed to reach a deal to ram through dozens of the president’s nominees.

The onetime New York judge and prosecutor and former Fox News host was one of the over 150 still outstanding nominees on the Senate’s calendar as Senate Republicans work to find a path forward to ram through Senate Democrats’ blockade of Trump’s nominees, and part of a slew of picks to get a vote over the weekend. But just ahead of her confirmation vote, the path to a deal was derailed, and lawmakers opted to ram through just seven of Trump’s nominees before heading home until September.

Pirro, who was confirmed by a 50-45 vote, will serve as U.S. Attorney for the District of Columbia, a post she has held since May on an interim basis.

Pirro previously served as the District Attorney in Westchester County, New York, for over a decade. Prior to that, she was on the bench as a judge in Westchester County in the early 1990s.

‘Jeanine is incredibly well-qualified for this position, and is considered one of the Top District Attorneys in the History of the State of New York,’ Trump said when he nominated Pirro. ‘She is in a class by herself.’

She was not Trump’s first pick for the job, however. His first choice, Ed Martin, failed to gain enough support among Republicans earlier this year. Sen. Thom Tillis, R-N.C., effectively tanked Martin’s nomination over concerns about his views on the Jan. 6, 2021 riot on Capitol Hill.

And Pirro’s road to confirmation was not without its own hiccups and drama.

Senate Democrats have accused her of amplifying Trump’s 2020 election fraud claims and defending him after the Jan. 6 Capitol riot during her time as a Fox News host, and warned that she would do the president’s bidding in her role as Washington D.C.’s top prosecutor.

During a Senate Judiciary Committee hearing last month, Democrats staged a walkout in protest of both her and U.S. District Judge Emil Bove, who was confirmed earlier this week in a tight, 50 to 49 vote. She later advanced out of committee on a party-line vote.

‘She’s an election denialist, recklessly peddling President Trump’s Big Lie despite even her own Fox News producers and executives warning her to reel it in,’ Senate Minority Whip Dick Durbin, D-Ill. and the top Democrat on the Senate Judiciary Committee said of Pirro. 

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