Bill Ackman’s ‘People’s Hedge Fund’ Drops 18% on Its First Day of Trading
Bill Ackman rang the opening bell at the New York Stock Exchange on Wednesday. By the close of trading, his new fund had lost nearly a fifth of its value. Pershing Square USA (NYSE: PSUS) closed at $40.90 on its NYSE debut, well below the IPO price of $50 — an 18% drop on the […]
Cognizant to Cut 4,000 Jobs Under ‘Project Leap’ as IT Services Sector Reshapes for AI
Cognizant Technology Solutions (Nasdaq: CTSH) plans to cut approximately 4,000 jobs — roughly 1% of its global workforce — as part of a restructuring programme announced alongside first-quarter earnings on April 29, according to two people familiar with the matter. The company did not publicly confirm the number. Project Leap will cost $230–320 million in […]
Minnesota House To Ban AI-Generated Nudes, But One Republican Voted No
Minnesota’s House passed a bill aimed at shutting off access to AI “nudification” tools that can turn ordinary photos into realistic non-consensual nude or sexual images, including child sexual abuse material, while one Republican lawmaker cast the only vote against it. HF1606, titled “Nudification technology access prohibited,” passed the Minnesota House by a 132-1 vote […]
Why Did Trump Say Ukraine Was Militarily Defeated
President Donald Trump’s claim that Ukraine is “militarily defeated” appears to have mixed up Ukraine with Iran, after he described a destroyed navy of “159 ships” while answering a question about whether the Ukraine war or the Iran conflict could end sooner. The remark came Wednesday in the Oval Office after Trump spoke with Russian […]
CENTCOM to Brief Trump on New Iran Military Options, Including Ground Forces and Uranium Seizure
US Central Command will brief President Donald Trump on Thursday on new military options against Iran, Axios reported, as ceasefire negotiations remain deadlocked and the dual blockade of the Strait of Hormuz shows no sign of resolution. CENTCOM Commander Admiral Brad Cooper will lead the briefing, with Joint Chiefs Chairman General Dan Caine also expected […]
Leaderless Ontario Liberals Overtake Ford’s PCs in Latest Polling
For the first time since 2021, Doug Ford’s Progressive Conservatives have fallen to second place in Ontario provincial polling — trailing a Liberal Party that has not yet chosen a permanent leader. A Liaison Strategies survey conducted April 25–26 put the Ontario Liberals at 38% and the PCs at 36% among decided and leaning voters, […]
Amazon in Early Talks to Reboot ‘The Apprentice’ With Donald Trump Jr. as Host
Amazon MGM Studios is in preliminary internal discussions about rebooting The Apprentice for Prime Video, with Donald Trump Jr. floated internally as a potential host, the Wall Street Journal reported Wednesday. Amazon MGM Studios head Mike Hopkins and other executives began discussing the reboot internally early last year, around the time President Donald Trump was […]
Microsoft, Google, Meta Just Had Their Best AI Quarter Ever—and Their Workers Paid for It
Microsoft (Nasdaq: MSFT), Alphabet (Nasdaq: GOOGL), Amazon (Nasdaq: AMZN), and Meta (Nasdaq: META) all reported earnings that beat Wall Street expectations, collectively posting more than $430 billion in quarterly revenue and pointing to artificial intelligence as the primary engine of growth. Less than a week earlier, Meta announced it would cut 8,000 workers, and Microsoft […]
Canada to Shut Down Nearly 4,000 Crypto ATMs to Combat Scams
Canada’s federal government has unveiled plans to ban cryptocurrency ATMs nationwide, aiming to curb their use as a primary tool for fraudsters defrauding victims and laundering illicit funds. The measure, announced in the Liberal government’s Spring Economic Update on April 28, targets nearly 4,000 machines across the country, which currently operate without industry-specific regulations. The […]
Jerome Powell to Remain Fed Governor After Chairmanship Ends Amid Ongoing Probe
Jerome Powell, outgoing Federal Reserve Chair, announced on Wednesdaythat he will continue serving as a governor on the central bank’s Board of Governors for an indefinite period after his chairmanship ends on May 15. His decision hinges on overseeing the conclusion of a probe into renovations at the Fed’s headquarters, a matter that has drawn […]