Elon Musk’s AI company, xAI, confirmed that a “rogue employee” was responsible for recent controversial responses made by its chatbot, Grok. The bot, which is integrated into Musk’s social media platform X, unexpectedly responded to user questions with unfounded theories about “white genocide” in South Africa. These responses were triggered by unauthorized modifications made to…
Author: Skyler Phillips
Skyler Phillips turns spreadsheets into stories that matter. With a background in economics and data visualization, Skyler covers markets, labor trends, inflation, tech industry shifts, and the financial policies that impact everyday people.
Federal Student Loan Collections Resume as SAVE Plan Stalls and Borrowers Face Renewed Confusion
The U.S. Education Department has resumed involuntary collections on defaulted federal student loans, potentially impacting about 5.3 million borrowers through wage garnishment. At the same time, legal challenges and administrative delays have created widespread confusion, especially around income-driven repayment (IDR) plans. Advocates like Natalia Abrams from the Student Debt Crisis Center have criticized the complexity…
Walmart Beats Earnings Forecasts but Warns of Tariff Impact and Economic Uncertainty
Walmart posted a mixed earnings report for its first quarter, with revenue rising 2.5% year over year to $165.6 billion, slightly below Wall Street expectations of $166.02 billion. However, the company beat adjusted earnings forecasts, reporting $0.61 per share versus the estimated $0.58. U.S. same-store sales rose 4.5%, outperforming expectations, largely driven by strength in…
Trade Deadlock with China Pushes U.S. Soybean Farmers Toward Steep Export Decline
U.S. soybean exports may drop by as much as 20% if the ongoing trade conflict with China is not resolved, according to agribusiness consultancy AgResource. Despite a recently announced temporary truce, analysts argue that the reduced Chinese tariffs—from 145% to 10%—are still too high to make American soybeans competitive in the Chinese market. As China…
Trump Pushes AI Diplomacy with Saudi Arabia and UAE as Tech Giants Pour Billions into Gulf Expansion
The Trump administration is facilitating expanded artificial intelligence (AI) collaboration between the United States and key Persian Gulf allies — Saudi Arabia and the United Arab Emirates (UAE). As part of a new policy shift, both nations are poised to gain access to advanced AI chips from Nvidia and AMD, chips considered critical for developing…
White House Confirms 120% Tariff on Shein and Temu Orders, Ending Duty-Free Perk for Shoppers
The White House has confirmed that small packages from China, including those from popular online retailers like Shein and Temu, are still subject to a steep 120% tariff. This development deals a significant blow to U.S. consumers who rely on these platforms for affordable goods. The tariffs remain in place despite a broader relaxation of…
Stocks Surge as U.S. and China Slash Tariffs, Ignite Bull Market and Ease Global Recession Fears
U.S. stocks soared on Monday after a major de-escalation in trade tensions between the United States and China. The Dow Jones jumped 1,161 points (2.81%), the S&P 500 rose 3.26%, and the Nasdaq surged 4.35%, marking their biggest single-day gains in over a month. The rally followed news that top trade officials from both nations…
U.S.–China Trade Talks Spark Cautious Optimism Amid Tariff Tensions and Market Volatility
Investors are hopeful that ongoing trade talks between the United States and China may ease tensions in the ongoing trade war. While expectations for a major breakthrough are low, the meeting in Switzerland is seen as a pivotal development since the imposition of sweeping tariffs by President Trump on April 2. The negotiations, described as…
Putin Proposes Peace Talks as Zelenskyy Insists on Ceasefire and Global Leaders Push for Diplomacy
Russian President Vladimir Putin, on Sunday, proposed direct talks with Ukraine to bring an end to the ongoing war that began with Russia’s 2022 invasion. In a televised statement, Putin called for negotiations in Istanbul, Turkey, emphasizing that they must take place without preconditions, with the ultimate goal of establishing lasting peace. He outlined his…
Asian Currency Rally Spurs Wealth Shift as Investors Turn from Dollar to Regional Assets
A sharp rally in Asian currencies is prompting a surge in demand for wealth and forex products, as clients seek alternatives to U.S. dollar-denominated assets. Bankers and analysts attribute this shift to growing trade uncertainties and a weakening U.S. dollar. The currency gains began with the Taiwan dollar and spread to others across the region,…