UNC announces AD transition plan from Bubba Cunningham to RFK Racing president Steve Newmark in 2026

UNC announces AD transition plan from Bubba Cunningham to RFK Racing president Steve Newmark in 2026

By AARON BEARD AP Sports Writer

North Carolina athletic director Bubba Cunningham will transition next summer into a new advisory role to the school’s chancellor, while hiring RFK Racing team president Steve Newmark as his eventual successor.

UNC announced the moves Tuesday, which marked the official start of revenue sharing where schools can begin directly paying athletes following the $2.8 billion House antitrust settlement.

The transition includes a two-year contract extension through July 2029 for the 63-year-old Cunningham, who has served as athletic director since late 2011. He will move to advising chancellor Lee Roberts and eventually Newmark on projects tied to athletics next summer, according to the school’s release.

“As part of my last contract extension, I committed to working with university leadership on a succession plan that would positively position Carolina Athletics and our 28 teams for the future,” Cunningham said in a statement.

“I appreciate the opportunity to extend my contract and enhance my role in a way that will allow me to continue to support our outstanding student-athletes, coaches and staff as we transition and navigate the changing athletics landscape. I am excited for the future.”

In the meantime, Newmark — who has been president of Roush Fenway Keselowski Racing for 15 years — will spend the 2025-26 season working as an executive associate AD and reporting to Cunningham. The school said Newmark’s initial focus will be on “revenue-driving initiatives,” particularly tied to the school’s men’s basketball and football programs, before eventually taking over as AD after the sports season.

UNC’s announcement touted Newmark’s experience in sponsorships, marketing and contract negotiations — coming at a time of landscape-altering changes to college athletics with the arrival of revenue sharing. Newmark will start his first role Aug. 15.

“Like many passionate Tar Heel fans, avidly following UNC Athletics has represented a special and unique bond with my family and friends since childhood, and I recognize the role it serves for the University, alumni, community and broader fanbase,” Newmark said in a statement.

“I look forward to working with Bubba and the entire Tar Heel Nation to continue to elevate UNC’s status as a premier brand in college sports with top-tier programs across the board, and with student-athletes who represent North Carolina’s flagship institution with class on and off their respective playing fields. With collegiate athletics undergoing massive changes at all levels, UNC is well positioned to take advantage of the new landscape.”

Newmark is a Chapel Hill native with multiple ties to the school, including serving on an advisory committee in the hiring of six-time Super Bowl winning head coach Bill Belichick as football coach in December. He is also part of the advisory committee in the Rams Club’s search for a new executive director.

Before joining RFK Racing, Newmark was a partner in a Charlotte-based law firm and specialized in sports and entertainment, including work with the NCAA, Southeastern Conference and Conference USA, UNC said in its release.

Cunningham’s tenure included elevating Hubert Davis to take over as men’s basketball coach when Hall of Famer Roy Williams retired in April 2021, as well as Belichick’s hiring.

It also included navigating the school through a multi-year NCAA infractions case tied to academic courses popular with athletes. That case reached a no-penalty conclusion in October 2017.

The school also won often. Eight different programs combined for 24 of the school’s 63 national championships in Cunningham’s tenure, while the school also had 22 individual national titles across seven sports.

Cunningham also recently completed a five-year term on the committee that selects the men’s NCAA Tournament field, including serving last year as chairman.

Louisiana-Style Red Beans & Rice

Louisiana-Style Red Beans & Rice

This dish is slow-cooked comfort in a bowl. Hearty, smoky, and just the right amount of spice. It’s perfect for Sundays, Mardi Gras, or anytime you need a warm, stick-to-your-ribs meal. It takes time, but the result is pure magic.

Ingredients

For the beans:

  • 1 lb. dried small red beans
  • 2 bay leaves
  • 1 large yellow onion, finely chopped (divided)
  • Kosher salt

For the good stuff:

  • 2 tablespoons canola oil, divided
  • 1 lb. smoked ham, chopped
  • 12 oz. andouille sausage, sliced into ¼” rounds
  • 3 celery ribs, chopped
  • 1 green bell pepper, finely chopped (seeds and ribs removed)
  • 3 garlic cloves, chopped
  • 1 tablespoon fresh thyme, finely chopped
  • 1 cup low-sodium chicken broth

To serve:

  • Cooked white rice
  • Fresh chopped parsley

Instructions

1. Start the soak.
Sort through the beans and toss out any broken ones or little rocks (yep, they sneak in). Put the beans in a big container with a lid, add 2 tablespoons of salt and 10 cups of water, and give it a stir. Cover and let it soak at least 8 hours… overnight is even better.

2. Get the beans cooking.
Drain and rinse your soaked beans, then move them to a large pot (5- to 6-quart is perfect). Cover with 2 quarts of fresh water, toss in the bay leaves and half the chopped onion, and bring it to a boil. Reduce to medium heat and simmer for about an hour, stirring now and then. Use a spoon to mash some of the beans against the side of the pot. That’s how you start to get that creamy texture.

3. Brown the ham.
About 15 minutes before the beans are done, heat a tablespoon of oil in a large skillet over medium-high. Add the ham and cook until it’s browned and smells amazing, 7 to 9 minutes. Use a slotted spoon to scoop it into the pot with the beans.

4. Brown the sausage.
Same skillet, now with the second tablespoon of oil. Cook the sausage rounds until they’ve got some nice color. Roughly 7 to 9 minutes. Add them to the beans too.

5. Cook the trinity.
In that same skillet (don’t you dare clean it), toss in the remaining onion, celery, and bell pepper. Sprinkle with a bit of salt and cook over medium heat, stirring occasionally, until the onion softens, 4 to 5 minutes. Add garlic and thyme, stir until fragrant (1–2 minutes), then pour in the chicken broth to deglaze the pan. Scrape up those browned bits, then pour it all into the bean pot.

6. Let it all come together.
Bring the whole pot to a simmer and let it go for about 30 minutes, stirring occasionally, until the mixture thickens to a nice, gravy-like consistency. Toss the bay leaves.

7. Serve it up.
Scoop white rice into bowls, ladle over the red beans and sausage, and finish with a little fresh parsley on top. You earned this one.

Inmate fatally shoots North Carolina officer before being caught in stolen vehicle, sheriff says

Inmate fatally shoots North Carolina officer before being caught in stolen vehicle, sheriff says

MURPHY, N.C. (AP) — A federal inmate escaped from custody at a medical clinic in western North Carolina and fatally shot a detention officer with his own gun Monday, then fled in a stolen vehicle before being captured in another county, a sheriff said.

The inmate had been taken to an orthopedics office in Murphy for undisclosed treatment when a scuffle began. The inmate took the officer’s weapon and shot him, Cherokee County Sheriff Dustin Smith said at a news conference. The inmate ran into the parking lot, jumped into a vehicle that had just arrived and took off. The inmate was later apprehended in Macon County, nearly an hour to the east, Smith said.

A detention officer was fatally shot with his own gun Monday as a federal inmate escaped from custody at a medical clinic in western North Carolina, a sheriff said. (AP Video)

Smith said the inmate, Kelvin Simmons, 48, will be charged with first-degree murder.

The detention officer was identified as Francisco Paul Flattes, 56, a four-year employee of the Cherokee County Sheriff’s Office. Smith said Flattes’ wife also works for the county detention center.

Another officer suffered injuries unrelated to the shooting and was recovering, the sheriff said.

“This has been probably one of the worst days of my career,” Smith said.

Emergency personnel in Clay County had alerted Macon County deputies that the inmate was driving to their county on U.S. Route 64, authorities said. Simmons’ vehicle was stopped and he was detained after a short standoff. There were no injuries at the scene.

Smith said Simmons was already being held on bank robbery charges along with an October 2024 escape.

Virginia swimmer Gretchen Walsh wins the Honda Cup, given to top female college athlete

Virginia swimmer Gretchen Walsh wins the Honda Cup, given to top female college athlete

By DOUG FEINBERG AP Sports Writer

NEW YORK (AP) — Virginia swimmer Gretchen Walsh won the Honda Cup, given annually to the country’s top female college athlete, on Monday night.

She’s the ninth swimmer to win the award and first since Simone Manuel in 2018.

“This year’s Honda Cup winner, Gretchen Walsh, is nothing short of world-class,” said Chris Voelz, executive director of the Collegiate Women Sports Awards. “Her performance at the national championships was extraordinary — shattering collegiate, American and even world records.

“We are incredibly proud of her accomplishments both in the pool and in the classroom, and we look forward to watching her continue to rise as she prepares for the World Championships and the 2028 Olympic Games. We’re thrilled to welcome Gretchen to the CWSA family, joining the elite group of swimmers who have earned this prestigious honor before her.”

The other two finalists for the award were UConn basketball star Paige Bueckers and Texas Tech softball pitcher NiJaree Canady. The top three were determined by votes from nearly 1,000 NCAA member schools, with the final Honda Cup recipient selected by the CWSA board of directors.

Caitlin Clark won the award the previous two years.

Walsh was a two-time Honda Award winner for swimming and diving. She helped Virginia to its fourth straight NCAA team title. She won seven NCAA championships this year, including the 50-yard freestyle, 100 freestyle and 100 butterfly, and concluded her collegiate career with 25 NCAA titles (nine individual). She was 16 for 16 in NCAA relay finals in her career.

Walsh is the second Honda Cup winner from Virginia. Basketball star Dawn Staley won the award in 1991.

In addition to their athletic performance, the Honda Cup honors college athletes for their leadership, academics and community service.

No verdict on first day of jury deliberations at Sean ‘Diddy’ Combs’ sex trafficking trial

No verdict on first day of jury deliberations at Sean ‘Diddy’ Combs’ sex trafficking trial

By MICHAEL R. SISAK and LARRY NEUMEISTER Associated Press

NEW YORK (AP) — Jury deliberations got underway on Monday in Sean “Diddy” Combs’ federal sex trafficking trial and hit a snag almost as soon as they started. But, by the end of the day, jurors indicated they were making progress weighing complex charges that could put the hip-hop mogul in prison for life.

The first day of deliberations saw a flurry of notes from the jury and Combs and his supporters bowing their heads in prayer in the courtroom — but no verdict.

The jury of eight men and four women are sifting through seven weeks of sometimes graphic and emotional testimony about the rap, fashion and reality TV impresario ’s propensity for violence and his sexual predilections, including drug-fueled sex marathons dubbed “ freak-offs ” or “hotel nights.”

The jury has started deliberating in Sean “Diddy” Combs’ sex trafficking case. The panel of eight men and four women began their closed-door discussions Monday. They are weighing charges that could put the hip-hop mogul in prison for life. (AP video: Joseph B Frederick)

About an hour in, the foreperson reported that a juror might be having trouble following the 61 pages worth of instructions the judge had just read to them.

“We are concerned (the juror) cannot follow your honor’s instructions,” the foreperson said in a note to Judge Arun Subramanian just after 12:30 p.m.

After the judge originally proposed asking the jury foreperson the nature of concerns about the fellow juror, defense lawyer Marc Agnifilo suggested caution and that it was better to say less than more.

“We can always ratchet it up. We can’t ratchet it down,” Agnifilo said.

Subramanian sent his response to the jury around 2 p.m., reminding the panel to deliberate and to follow his instructions on the law.

The jury sent another note about three hours later asking for clarification on the part of the instructions addressing drug distribution — an allegation included in Combs’ racketeering conspiracy charge.

As deliberations were happening, Combs prayed with his family and friends in the courtroom. Wearing his customary sweater and khakis, he stood facing his contingent in the audience and bowed his head with them. As they finished, they applauded, along with Combs.

Combs also showed off two books he’s reading: “The Power of Positive Thinking,” by Norman Vincent Peale and “The Happiness Advantage,” by Shawn Achor.

As he sent the jury to deliberate, Subramanian told the five alternate jurors to remain on standby at home in case they’re needed at a later point.

Jurors were provided with a laptop loaded with all of the exhibits shown in court, including text messages, photographs and videos of the sexual encounters at the heart of the case.

Combs, 55, has pleaded not guilty to federal charges of racketeering conspiracy, two counts of sex trafficking — relating to two of his ex-girlfriends — and two counts of transportation to engage in prostitution for allegedly arranging to fly his girlfriends and sex workers across state lines.

In closing arguments last week, federal prosecutors and Combs’ defense team took their last shots at convincing jurors to convict or acquit the Grammy Award-winning founder of Bad Boy Records.

“The defendant used power, violence and fear to get what he wanted,” Assistant U.S. Attorney Christy Slavik said. “He thought that his fame, wealth and power put him above the law.”

She said that he used his “close inner circle and a small army of personal staff, who made it their mission to meet the defendant’s every desire, promote his power and protect his reputation at all costs.”

Defense lawyer Marc Agnifilo countered, “This isn’t about crime. It’s about money.” He noted that one of Combs’ accusers in the criminal case also sued him in civil court.

“He is not a racketeer. He is not a conspirator to commit racketeering. He is none of these things. He is innocent. He sits there innocent. Return him to his family, who have been waiting for him,” the lawyer told jurors.

In all, 34 witnesses testified, headlined by Combs’ former girlfriends Cassie — the R&B singer born Casandra Ventura — and “ Jane,” who testified under a pseudonym. Both women said he often was violent toward them. Cassie said he forced her into hundreds of sexual encounters with paid male sex workers while Jane recounted numerous “hotel nights.”

Jurors also saw now-infamous security camera video of Combs beating, kicking and dragging Cassie at a Los Angeles hotel in 2016 and clips from videos of sexual encounters.

Combs chose not to testify, and his lawyers didn’t call any witnesses in their defense case. His attorneys elected instead to challenge the accusers’ credibility during lengthy cross-examination questioning.

The defense has acknowledged that Combs veered into violence, but his lawyers maintain that the sex acts were consensual. They contend that prosecutors are intruding in Combs’ personal life and that he’s done nothing to warrant the charges against him.

Man shot Idaho firefighters who had asked him to move his vehicle, killing 2, sheriff says

Man shot Idaho firefighters who had asked him to move his vehicle, killing 2, sheriff says

By MANUEL VALDES and LINDSEY WASSON Associated Press

COEUR D’ALENE, Idaho (AP) — A man who started a wildfire and then fatally shot two firefighters and wounded another in northern Idaho was a 20-year-old transient who attacked the first responders after they asked him to move his vehicle, a sheriff said Monday.

Kootenai County Sheriff Bob Norris offered new details about the Sunday confrontation at Canfield Mountain, just north of Coeur d’Alene, a popular recreation area. He said Wess Roley was living out of his vehicle, had once aspired to be a firefighter and had only a handful of minor contacts with area police.

Firefighters are back at the scene Monday of a blaze where two firefighters died and another was wounded the day before in an ambush shooting attack. (AP video: Manuel Valdes)

“We have not been able to find a manifesto,” the sheriff said, adding a motive was still unknown.

Norris said families of the victims are “in shock — absolutely. They’re in shock and they’re still processing it.”

2 veteran firefighters are killed and a third is in critical condition

Battalion Chief Frank Harwood, 42, who had been with the county fire department for 17 years, was killed, Kootenai County Fire and Rescue Chief Christopher Way said during a news conference Monday. Harwood was married and had two children, and he also was a veteran of the Army National Guard.

Coeur d’Alene Fire Department Battalion Chief John Morrison, 52, was also killed after working with the department for 28 years.

Coeur d’Alene Fire Department Fire Engineer David Tysdal, 47, sustained gunshot wounds and was in critical condition. Authorities said he had two successful surgeries.

After the shooting, local law enforcement agencies have offered to go on every call that the fire department goes on, according to Way.

“I don’t know that we’re ever going to be able to guarantee people’s peace of mind, at least for a while after an incident like this,” he said. “But we are taking every measure we can to ensure safety of our responders.”

Roley had set a fire using flint, and the firefighters who rushed to the scene instead found themselves under fire. They took cover behind fire trucks.

“There was an interaction with the firefighters,” Norris said. “It has something to do with his vehicle being parked where it was.”

Roley had ties to California and Arizona before moving to Idaho

Roley later killed himself, the sheriff said.

He had ties to California and Arizona and was living in Idaho “for the better part of 2024,” Norris said. “But as far as when he got here, why he was here, why he chose this place — I don’t know.”

Two helicopters converged on the area Sunday, armed with snipers ready to take out the suspect if needed, while the FBI used his cellphone data to track him and the sheriff ordered residents to shelter in place. They eventually found Roley dead in the mountains, his firearm beside him.

Roley lived with T.J. Franks Jr. for about six months in Sandpoint, Idaho, while working for a tree service, Franks said on Monday. Franks had cameras in his apartment that caught Roley throwing gang signs at them one day, which worried Franks to the point that he called police.

“I didn’t know what to really think about it,” Franks said. “I just called the cops and had them talk to him.”

The landlord also called Franks one morning because neighbors reported that Roley’s vehicle had been left running for about 12 hours. Franks said Roley was asleep in his room and said he forgot about the vehicle.

Franks said Roley “started acting a little weird” and at one point shaved his long hair off completely.

“We just kind of noticed him starting to decline or kind of go downhill,” he said.

A swift outpouring of support

Outpouring of support for the victims was swift in Coeur d’Alene, a city of 55,000 residents near the border with Washington.

Hours after the shooting, people gathered along Interstate 90 holding American flags to pay their respects as the two fallen firefighters’ bodies were taken to the medical examiner’s office in Spokane, Washington, about 35 miles (56 kilometers) from Coeur d’Alene.

Gov. Brad Little ordered U.S. and Idaho state flags to be lowered to half-staff to honor the firefighters until the day after their memorial service.

“All our public safety officers, especially our firefighters, bravely confront danger on a daily basis but we have never seen a heinous act of violence like this on our firefighters before,” he said in a statement. “This is not Idaho. This indescribable loss is felt deeply by all those in the firefighting community and beyond.”

Though the shelter-in-place order was lifted, the sheriff’s office cautioned residents to be prepared because the fire was still burning. The Idaho Department of Lands said it had burned about 26 acres (10.5 hectares).

Way described the fire on Monday as “reasonably contained,” saying that respondents had “stopped significant forward progress.”

Fire is always a concern for the region, said Bruce Deming, whose property abuts the trail system. When he noticed smoke on the ridge Sunday afternoon, he wondered why no firefighting helicopters were responding.

When a friend texted to tell him about the shooting, he realized why he wasn’t seeing aircraft: “Because they’re concerned about being shot at,” he said.

___

Associated Press journalists Hallie Golden in Seattle, Ed White in Detroit and Martha Bellisle in Seattle contributed to this report.

A former governor, a Trump and many others: Tillis retirement sets off NC Senate seat speculation

A former governor, a Trump and many others: Tillis retirement sets off NC Senate seat speculation

By GARY D. ROBERTSON and JILL COLVIN Associated Press

RALEIGH, N.C. (AP) — North Carolina Sen. Thom Tillis’ surprise retirement announcement over the weekend creates a sudden opening in next year’s midterm elections, setting off a scramble of successor speculation that includes both a former Democratic governor and a Trump other than the one who ultimately nudged Tillis into leaving.

Tillis’ decision, revealed Sunday after President Donald Trump threatened to back a primary candidate against him as Tillis opposed Medicaid reductions in the president’s tax break and spending cut package, is leading Republican politicians to size up whether they can lasso the electoral and financial support to compete for the seat.

Anyone getting a Trump endorsement is likely to have the inside track for the GOP nomination next March.

“There’s a tremendous amount of people who are looking at the position and trying to determine whether they have the fire in belly to run for it,” state Rep. John Torbett said on Monday.

Democrats waiting on Cooper

The absence of an incumbent emboldens national and state Democrats in their bid to flip back the Senate, where Republicans hold a 53-47 advantage. A Democratic Senatorial Campaign Committee spokesperson said Tillis’ announcement was “another blow to Republicans’ chances as they face a midterm backlash that puts their majority at risk.”

But it’s still unclear whether their most high-profile potential candidate — former two-term Gov. Roy Cooper — is going to run. He hasn’t publicly revealed his plans, even though former U.S. Rep. Wiley Nickel launched his own bid almost three months ago.

Cooper left office last December as a popular figure — mentioned briefly as a vice presidential choice for Kamala Harris — who has never lost an election for state office, dating to the mid-1980s. He was elected attorney general four times and is known for his fundraising prowess.

Cooper spokesperson Morgan Jackson said Monday that Cooper “continues to strongly consider a run for the Senate and will decide in the coming weeks.”

Nickel’s campaign didn’t respond Monday to a message seeking comment, but Nickel said Sunday that “no matter which MAGA loyalist Donald Trump handpicks to run in North Carolina, I’m the Democrat who’s ready to take them on and win.”

Veteran Democratic consultant Gary Pearce said Tillis’ departure makes it imperative that Cooper get in the race: “We can’t let a Trump toady take that seat.”

Still, Democrats haven’t won a Senate seat in the ninth-largest state since 2008. That includes when Trump, as a former president, publicly endorsed then-U.S. Rep. Ted Budd for the GOP nomination nearly a year before the 2022 primary. Budd defeated former Gov. Pat McCrory in the primary by 34 percentage points.

South Carolina Sen. Tim Scott, chairman of the National Republican Senatorial Committee, said North Carolina voters would next year “elect a conservative leader committed to advancing an agenda of opportunity, prosperity, and security.”

Whatley, Lara Trump, Harrigan garner GOP attention

The list of potential Republican candidates floating on social media appears long, with two close Trump allies among those mentioned often — current Republican National Committee Chairman Michael Whatley and former RNC co-chair Lara Trump, the president’s daughter-in-law. Neither has publicly spoken about the seat.

Both are originally from North Carolina, with Whatley a former chief of staff to then-U.S. Sen. Elizabeth Dole and later state GOP chair before he was elevated to the RNC post last year.

Whatley is considered by national Republicans to be a potentially formidable candidate in the state, given his wide network of relationships, strong fundraising record and the fact that he doesn’t have the baggage of past votes to explain.

Whatley, according to a person familiar with his thinking, is honored to have the RNC position and is neither actively considering nor putting out feelers for the Senate race. He sees his primary job as helping the White House find the right candidate, but also would not reject being considered, said the person, who spoke on condition of anonymity because they were not authorized to speak on the record.

Lara Trump now lives in Florida and anchors a weekly Fox News show. Having a Trump on the ballot in an off-year is seen as a potential boon for the party by national Republicans, though it remains unclear whether she will want to purse a run. She declined to run for the U.S. Senate in North Carolina in 2022 and in 2024 took herself out of the running to fill the term of Marco Rubio as he became secretary of state.

Another candidate mentioned often is first-term U.S. Rep. Pat Harrigan, a West Point graduate and former Green Beret who served in Afghanistan and later became a defense-products manufacturer. A Harrigan political consultant is a former Tillis aide.

Tillis told The Associated Press Monday that he would likely get involved in the race for his replacement and said, ideally, Senate Republicans and the White House will land on a candidate who can win.

“I know a lot about the state of North Carolina,” he said, “and I got a pretty good idea of the profile you need to win.”

Tillis declined to name favorites but advised would-be candidates to hold off on declaring their candidacies until close to the December filing deadline when, he argued, the political dynamics will be clearer.

Tillis has history of far-right critiques, close elections

Tillis’ retirement announcement — he will serve out the last 18 months of his term — heartened far-right Republicans and strong Trump supporters who have been unhappy for years with his willingness to challenge Trump’s actions and his Cabinet agency choices.

Tillis sent Trump a text message on Saturday night, alerting him that he would not be running for reelection by telling the president: “Start thinking about my replacement.”

Trump responded in the text, a copy of which was seen by The Associated Press: “I am! DJT.”

Trump and his team have already targeted one Republican incumbent: Kentucky Rep. Thomas Massie, launching a new super PAC devoted to defeating him that has already released an ad lambasting him.

While praised for pushing a conservative agenda as state House speaker, Tillis faced strong primary opponents in his first Senate bid in 2014 based on accusations that he was too moderate. But he avoided a significant challenge in the 2020 GOP primary and won two general elections by narrow margins over then-Sen. Kay Hagan and later challenger Cal Cunningham.

___

Colvin reported from New York. Associated Press writer Seung Min Kim in Washington contributed to this report.

US stocks add a bit more to their all-time high

US stocks add a bit more to their all-time high

By STAN CHOE AP Business Writer

NEW YORK (AP) — The U.S. stock market added to its record on Monday as Wall Street closed out a second straight winning month.

The S&P 500 rose 0.5% in its first trading after completing a stunning recovery from its springtime sell-off of roughly 20%. The Dow Jones Industrial Average added 275 points, or 0.6%, and the Nasdaq composite gained 0.5%.

Stocks got a boost after Canada said it’s rescinding a planned tax on U.S. technology firms and resuming talks on trade with the United States. On Friday, U.S. President Donald Trump had said he was suspending talks with Canada because of his anger with the tax, which he called “a direct and blatant attack on our country.”

One of the main reasons U.S. stocks came back so quickly from their springtime swoon has been hope that Trump will reach deals with other countries to lower his stiff proposed tariffs. Otherwise, the fear is that trade wars could stifle the economy and send inflation higher.

Many of Trump’s announced tariffs are currently on pause, and they’re scheduled to kick back into effect in a little more than a week.

The U.S. stock market being back at a record high could actually raise the risk of renewed escalations on tariffs, according to strategists at Deutsche Bank led by Parag Thatte and Binky Chadha. They point to the pattern in 2018 and 2019 of rallies for the market prompting escalations for tariffs, which then drove the market lower and led to subsequent pullbacks on tariffs, which then sparked rallies again.

“Despite the rhetoric to the contrary, this dynamic looks alive and well,” the strategists wrote in a report. “In our view, beyond the market reaction, if negative impacts of tariffs on growth, earnings or inflation start to materialize, we will get further relents.”

On Wall Street, Oracle’s 4% rise was one of the strongest forces lifting the S&P 500. CEO Safra Catz said the tech giant “is off to a strong start” in its fiscal year and that it signed multiple large cloud services agreements, including one that could contribute over $30 billion in annual revenue two fiscal years from now.

GMS’ stock jumped 11.7% after the supplier of specialty building products said it agreed to sell itself to a Home Depot subsidiary in a deal that would pay $110.00 per share in cash. That would give it a total value of roughly $5.5 billion, including debt.

Less than two weeks ago, another company, QXO, said it was offering to buy GMS for $95.20 per share in cash. After the announcement of the Home Depot bid, QXO’s stock rose 3.9%, and Home Depot’s stock slipped 0.6%.

Hewlett Packard Enterprise rallied 11.1% and Juniper Networks climbed 8.4% after saying they had reached an agreement with the U.S. Department of Justice that could clear the way for their merger go through, subject to court approval. HPE is trying to buy Juniper in a $14 billion deal.

Bank stocks were also solid after the Federal Reserve said on Friday that they are financially strong enough to survive a downturn in the economy. JPMorgan Chase climbed 1%, and Citigroup gained 0.9%.

All told, the S&P 500 rose 31.88 points to 6,204.95. The Dow Jones Industrial Average added 275.50 to 44,094.77, and the Nasdaq composite gained 96.27 to 20,369.73.

In the bond market, Treasury yields fell ahead of several major economic reports later in the week. The highlight will be Thursday’s jobs report. It’s often the most anticipated economic data of each month, and it will come a day earlier than usual because of Friday’s Fourth of July holiday.

The job market has remained relatively steady recently, even in the face of tariffs, but hiring has slowed. Economists expect Thursday’s data to show another step down in overall hiring, down to 115,000 jobs in June from 139,000 in May.

Such data has helped keep the Federal Reserve on hold this year when it comes to interest rates. Fed Chair Jerome Powell has said repeatedly that it’s waiting for more data to show how tariffs will affect the economy and inflation before resuming its cuts to interest rates. That’s because lower rates can fan inflation higher, along with giving the economy a boost.

Trump, meanwhile, has been pushing for more cuts to rates and for them to happen soon. Two of his appointees to the Fed have said recently they could consider cutting rates as soon as the Fed’s next meeting in less than a month.

The yield on the 10-year Treasury fell to 4.23% from 4.29% late Friday.

In stock markets abroad, indexes dipped modestly in Europe following a more mixed finish in Asia.

Stocks fell 0.9% in Hong Kong but rose 0.6% in Shanghai after China reported its factory activity improved slightly in June after Beijing and Washington agreed in May to postpone imposing higher tariffs on each others’ exports, though manufacturing remained in contraction.

___

AP Business Writer Elaine Kurtenbach contributed.

Sen. Thom Tillis in stepping aside goes the way of other Republicans who have challenged Trump

Sen. Thom Tillis in stepping aside goes the way of other Republicans who have challenged Trump

By LISA MASCARO AP Congressional Correspondent

WASHINGTON (AP) — Flake. Corker. Romney.

And now, Sen. Thom Tillis.

The roll call of Republican senators in the U.S. Congress who have called it quits, rather than endure a political career sideways with President Donald Trump, is long, notable — and apparently, still growing.

Tillis, the GOP senator from North Carolina, announced his decision not to seek reelection Sunday, a stunning moment, given its timing.

It arrived a day after Trump trashed Tillis online, threatening to campaign against him, after the senator revealed he would oppose Trump’s big tax breaks bill because of its deep cuts to Medicaid that he warned would devastate his state.

“My goal is not to undermine the president,” Tillis told the Associated Press and others late Sunday night at the U.S. Capitol.

“But why not do it right? And why not take the time to make sure that we’re not going to have unintended consequences, which will also have, I think, substantial political consequences next year if we’re not careful.”

The senator, like others before him, has run up against the limits of his own perceived truth-telling, particularly when it goes against the views of the president or threatens the White House agenda.A tough reelection became tougher

Tillis’ reelection in the Tar Heel State was already expected to be difficult, a $600 million campaign, he said he was told. Democrats see the state as a prime pick-up opportunity in next year’s elections as they try to flip the seat and retake majority control of the Senate from Republicans.

Turning 65 later this year, Tillis said he had been weighing his decision, and having put a cancer diagnosis behind him was charting the next phase of his life. A former House speaker in North Carolina, he noted he has been in office for some 20 years.

But Trump’s unchallenged grip on the party, and his singular ability to not only tank political careers but also deeply influence the views of Republican voters, leaves little room for dissent.

Most GOP senators who confronted Trump during his first term – Arizona’s Jeff Flake, Tennessee’s Bob Corker and Utah’s Mitt Romney, who was the only Republican to vote to convict Trump in both of his Senate impeachment trials – have long since stepped aside.

Tillis bristled at those comparisons.

“No, no, no. Look, I am an unlikely senator,” Tillis said.

He insisted, “I don’t like any of the trappings that many senators like up here. I like doing work. I like going home, and I like being with my family. That’s me.”Tillis wants Trump to succeed

Tillis, as he walked back to his Senate office, told the story of living in a trailer park in Nashville as a teen with his family, before branching out on his own.

At about 16, he had been a cook at a roadside diner, “like a Denny’s,” he said, but found that the waiters made more money with tips, so he switched. He was grossing about $10,000 a year. Then he moved on to a warehouse job, earning about the same pay, and was able to move into the trailer of his own.

That’s one reason why he opposes Trump’s tax bill: he says it’s not the kind of relief the president is promising for working Americans. Take the president’s no tax on tips plan, he said.

“Thom Tillis the waiter gets a tax break. Thom Tills the warehouse worker doesn’t,” he said.

“Why can’t we figure out a way to give it to both of them versus something that catches an applause line in Las Vegas?”

Tillis went on, “I would love to have told the president this story. Instead of people getting gimmicky and targeting things — and not looking at the inherent unfairness of that policy and the additional billions of dollars we have to spend on that — which is forcing the Medicaid debate.”

He said, exasperated, “Folks, pull back.”Trump and Tillis talk

Tillis did talk with Trump over the past several days. On Friday night he said he had a good call with the president and shared his concerns with the bill.

But once the president lashed out against him Saturday night, that was about it.

“I told the president after that post that it’d probably be a good time for him to start looking for replacements,” Tillis said

In a speech later Sunday, Tillis appeared somewhat liberated, free to publicly call the bill as he saw it, a betrayal of Trump’s promises.

“I’m telling the president that you have been misinformed: You supporting the Senate mark will hurt people who are eligible and qualified for Medicaid,” he thundered from the chamber floor.

Colleagues have been taking notice. Democrats in particular can’t help but remember another pivotal moment when Republicans were trying to cut health care and a single GOP senator stood up and said no.Tillis, McCain and health care

Sen. John McCain famously voted thumbs down against the Republican plan to “repeal and replace” the Affordable Care Act, or Obamacare, in a stunning setback during Trump’s first term in the summer of 2017.

Tillis brushed off that comparison, too.

“We’re gonna get the tax bill done,” he said.

But he said, the president has advisers that are “politically too cute by half, and they’re having fun while we’re having to implement suboptimal policy that will degrade the enormous impact and the legacy that this president could otherwise have.”

And as he heads for the exits next year, Tillis said “if they continue to do this, I’ll start spending some time focusing on just who those people are.“

____

This story has been corrected to fix the Tillis quote in the ‘Trump and Tillis talk’ sub-headline, with quote beginning, ‘I’m telling the president,’ to change misled to misinformed.

New x-ray tech could make airport security faster—and smarter

New x-ray tech could make airport security faster—and smarter

RALEIGH, N.C. (WPTF) – Tired of dumping your drink and holding up the line at TSA? A Duke University spinout, Quadridox, is working on new tech that could speed up airport security—and let you keep your water bottle too. Joel Greenberg, the President of Quadridox, says the initial groundwork for Quadridox was done when he was a professor at Duke.

“My and some of my co-founders started Quadridox to commercialize and deploy some of the technology that we had developed to support the TSA and the traveling public,” said Greenberg

Stated in Duke Today, Quadridox uses X-rays, but not the way doctors detect broken bones. Those X-rays make pictures by passing straight through objects. Quadridox’s X-ray diffraction imaging, on the other hand, is used to analyze the structure of materials by observing how X-rays bounce off atoms within them, providing greater specificity of the materials being viewed.

“We developed a new kind of X-Ray technology that lets us make images like the X-Rays you would see in the hospital, but at the same time it also lets us determine what each of the items in your bag is actually made of,” said Greenberg.

Having that information will make going through airport security quicker, resulting in more accuracy and fewer delays. Potentially, Greenberg says their technology offers the potential for people to bring liquids on flights again.

“For the Quadridox product we’re focused right now on checked baggage,” said Greenburg. “The first and most important impact is that it means that the TSA is less likely to open your bag, it means that your bags more likely to make it where you actually end up and it also helps make the TSA’s job a lot easier.”

But it’s not just about how this X-Ray technology will help the aviation industry, the same technology they’ve been using has helped develop a comparable product that focuses on medical imaging.

“It helps identify cancerous regions in breast biopsies and lumpectomies,” said Greenburg. “So by better analyzing what a sample is made of we can either apply it to the aviation security space or improve cancer detection.”

In a press release from Duke University, Greenberg said Quadridox would not be where it is today without support from Duke and sustained federal funding.

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