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News
Big Tech Needs to Justify AI Spending as Investors Dump Stocks
2+ day, 14+ hour ago (932+ words) (Bloomberg) -- After last week's wipeout in chips and the broader selloff in technology stocks, pressure is building for the biggest spenders on artificial intelligence to justify their expenditures to beleaguered traders with increasingly itchy fingers hovering over their sell buttons....
Russia’s Elite Are Moving Billions Beyond Putin’s Wartime Grasp
6+ day, 7+ hour ago (755+ words) (Bloomberg) -- Several of Russia's richest people including some close to President Vladimir Putin have moved billions of dollars abroad in the past year after growing concerned about the country's economy and the government budget. Thailand Scraps Plan to End Visa-Free…...
US Cost for Gas Power at 17-Year High and Climbing, Lazard Says
1+ week, 2+ day ago (298+ words) (Bloomberg) -- The cost of power from natural gas-fired plants in the US hit the highest level in at least 17 years, and is poised to climb even higher as demand surges from new data centers. Lindsey Graham, Senate Hawk Turned Trump…...
US states could sue next week to block Paramount-Warner Bros deal, sources say
1+ week, 5+ day ago (264+ words) By Dawn Chmielewski and Jody Godoy July 8 (Reuters) - U.S. states concerned that Paramount's $110 billion acquisition of Warner Bros. Discovery will hurt competition could sue to block the deal as soon as next week, two sources familiar with the matter told Reuters....
Cracking open a can of cannabis -- America's new pastime (for now)
2+ week, 6+ day ago (599+ words) At Fourth of July barbecues this weekend, Americans are more likely than ever to crack open a can of cannabis, rather than a beer. Pot has long been associated in the United States with hippies and stoners nursing pungent joints....
Exclusive-Meta lobbies Congress for protection from child-harm lawsuits
1+ mon, 3+ day ago (491+ words) June 18 (Reuters) - Meta Platforms has lobbied the U.S. Congress for legal immunity from child-harm claims tied to social media products such as Instagram, as it faces thousands of lawsuits from young users and their families, according to a source familiar with…...
Trump’s Iran Nuclear Deal Risks Falling Short of Obama Version
1+ mon, 5+ day ago (457+ words) (Bloomberg) -- US President Donald Trump’s emerging nuclear accord with Iran risks securing fewer restrictions than the deal negotiated by the administration of Barack Obama — one he derided and later scrapped. Most Read from BloombergRead the 14-Point Draft Memorandum Between the…...
Musk’s xAI, SpaceX hit with class action over data center ‘nuisance’
1+ mon, 1+ week ago (321+ words) WASHINGTON, June 9 (Reuters) - Elon Musk’s xAI and SpaceX have been sued by Mississippi residents who say a power plant fueling nearby data centers is blasting “omnipresent and inescapable” noise that has eroded their health and home values. The lawsuit, made…...
Trump to Drop $1.8 Billion Fund in IRS Deal, Keeps Tax Probe Ban
1+ mon, 2+ week ago (645+ words) (Bloomberg) -- The Trump administration is moving to drop controversial plans for a $1.8 billion fund to pay victims of alleged government “weaponization,” but will still provide immunity from any probes into the president’s past tax filings under a deal agreed to…...
Trump Says He Wants Iran’s Uranium Mostly for ‘Public Relations’
2+ mon, 1+ week ago (246+ words) (Bloomberg) -- President Donald Trump said the US objective of recovering highly enriched uranium from Iran was “more for public relations than it is for anything else,” while reiterating his commitment to removing the nuclear material.Most Read from BloombergHormuz Oil…...