Bronstein, Gewirtz & Grossman LLC Urges XTI Aerospace, Inc. Investors to Act: Class Action Filed Alleging Investor Harm

XTI Aerospace (XTIA) said CEO and Chair Scott Pomeroy resigned effective immediately. The board appointed Jeremy Schneiderman as interim CEO and Jonathan Ornstein as interim chairman. Schneiderman has led Drone Nerds since 2014. On Nasdaq, XTIA shares were down 8.24% at $8.29.

The CFTC asked a judge to dismiss CME's lawsuit over the approval of Kalshi's Bitcoin perpetual futures. The CFTC argued CME showed no financial harm or increased competition. CME claims the contracts should be classified as swaps, not futures. Kalshi and Polymarket plan to expand into perpetual futures, with Kalshi filing for contracts tied to 12 altcoins.

Commerce Secretary Howard Lutnick confirmed upcoming semiconductor tariffs, with exemptions for US-based production. Nvidia's CEO, Jensen Huang, distanced himself from the policy. Phase Two tariffs will be broader than Phase One, affecting servers, laptops, and gaming hardware. Specific rates, exemptions, and timelines remain unspecified. The tariffs, under Section 232, will be permanent unless removed by the president. TSMC's US investments may partially offset tariffs, but many organizations f

A federal judge ruled Google must change its ad tech business practices but does not need to break it up. The decision follows a finding that Google illegally maintained its ad tech monopoly. Google's ad tech business generated $30 billion in revenue last year, though it has declined for 16 straight quarters. The Justice Department had sought a breakup but will evaluate next steps after the ruling.

Commerce Secretary Lutnick revealed that upcoming semiconductor tariffs will follow a pharmaceutical framework, requiring companies to sign agreements with federal agencies for duty reductions. The framework has three tiers, with zero duty requiring both onshoring and pricing agreements. Lutnick's comments were made on CNBC's Squawk Box during the G20 Innovation Ministerial. The tariffs are part of Phase Two, expanding the scope of previous duties and potentially removing exemptions. TSMC has a

California lawmakers failed to pass a bill that would have limited liability for investor-owned utilities in wildfire cases. Governor Newsom had negotiated a compromise, but the Assembly did not vote on it. Utility stocks, including PG&E, Edison, and SDG&E, dropped sharply. The bill's failure has raised concerns about utility financial stability and potential rate hikes. Hearings are planned for the fall to continue discussions on wildfire policies.