Amazon Cuts More Jobs in Seller Services as Tech Layoffs Surpass 45,000
Amazon (Nasdaq: AMZN) eliminated more roles in its Selling Partner Services division on Wednesday, extending a six-month restructuring that has now cost the company nearly 30,000 positions as it redirects capital toward artificial intelligence. An Amazon spokesperson confirmed the cuts to Business Insider, saying the scope reached “a relatively small number of roles.” The company […]
The Iran War’s Hidden Bill: 30-Year Treasury Yields Hit 5% for the First Time Since 2007
The US government borrowed long-term money on Wednesday at a cost it hasn’t paid since before the global financial crisis, as two consecutive weeks of hotter-than-expected inflation — driven by the energy shock from the Iran war — pushed 30-year Treasury yields above 5% for the first time since 2007. The Treasury sold $25 billion […]
After Denying, Gautam Adani Moves To Settle $175M SEC Fraud Case With $6M Payout
Indian magnate Gautam Adani has agreed to pay $6 million to settle US SEC allegations tied to Adani Green Energy, according to Bloomberg Law, in a proposed deal that would put a civil securities case on a path toward closure but still leave a judge with the final say. His nephew, Sagar Adani, would pay […]
Sanders, Ocasio-Cortez Push For A Hold On America’s AI Buildout
A potential collision between America’s AI infrastructure race and local backlash over resources and subsidies is brewing after Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez proposed a halt on new AI data center construction and upgrades until Congress passes broad AI legislation. What the Democrat duo aims to achieve for the said AI legislation would […]
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Sheinbaum Confirms Pemex CEO Departure, Names Carpio as Successor
Mexican President Claudia Sheinbaum announced on May 14 that Víctor Rodríguez has stepped down as CEO of state oil giant Pemex, capping a tumultuous tenure marked by financial losses and operational setbacks. Juan Carlos Carpio, previously the company’s CFO, has been named as his successor. Rodríguez, an academic with no prior business or political experience, […]
Prime Minister Carney Pushes Asset Recycling for Economic Growth
Canada’s assets are up for sale. Prime Minister Mark Carney is evidently considering funding new infrastructure initiatives through the sale of certain assets, such as Canada’s ports and airports. Speaking at a press conference on Parliament Hill, Carney framed the move as a strategic effort to bolster economic expansion by redirecting capital from existing holdings […]
Federal Reserve Governor Stephen Miran Resigns Ahead of Kevin Warsh’s Chairmanship
Federal Reserve Governor Stephen Miran submitted his resignation on Thursday, paving the way for a new era under incoming Chair Kevin Warsh, who secured Senate confirmation just a day earlier. Miran’s departure, timed to coincide with or precede Warsh’s arrival, marks the end of a brief but contentious tenure at the central bank. Miran joined […]
India Hikes Gold and Silver Tariffs to 15% in Bid to Curb Trade Deficit and Bolster Rupee
India has increased tariffs on gold and silver imports to 15%, a move announced on May 13 aimed at narrowing a ballooning trade deficit and easing pressure on dwindling foreign exchange reserves. The new structure includes a 10% basic customs duty paired with a 5% Agriculture Infrastructure and Development Cess, targeting a sector that accounts […]
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Canada Unveils C$1 Trillion Plan to Double Electricity Grid Capacity by 2050
Canada has launched a C$1 trillion National Electricity Strategy to double the country’s grid capacity by 2050, addressing an expected surge in electricity demand. Announced on Thursday, Prime Minister Mark Carney framed the ambitious plan as a direct response to industrial growth and technological advancements like AI, which are set to transform energy needs. “As […]
Report: Swiss Nuclear Plants Estimated To Viable for 80 Years
Switzerland has concluded that its nuclear power plants in Goesgen and Leibstadt can remain economically viable for up to 80 years, a full 20 years longer than earlier estimates. This finding, detailed in a recent government report, underscores a strategic pivot to bolster energy security amid evolving regional challenges. The report highlights that the necessary […]