Former President Donald Trump’s recent trip to the Gulf has been marked by a series of groundbreaking deals that could reshape the global artificial intelligence (AI) landscape. Central to this transformation is the commitment from Gulf nations—particularly Saudi Arabia and the UAE—to build massive AI data centers powered by cutting-edge American technology. These partnerships, backed…
Category: News
Social Security Garnishment Set to Resume for Defaulted Student Loans, Threatening Millions of Seniors
Beginning next month, Social Security recipients who are behind on their federal student loans will face garnishment of up to 15% of their monthly benefits. This move comes as the Trump administration reinstates the Treasury Offset Program (TOP), a federal debt collection mechanism that allows the government to withhold funds from sources like tax refunds,…
Tariff Fears Push Consumer Sentiment Near Record Low as Inflation Expectations Surge in May
U.S. consumers are growing increasingly worried that tariffs will drive up inflation, according to a recent University of Michigan survey. The preliminary consumer sentiment index for May dropped to 50.8 from April’s 52.2, marking the second-lowest level on record, only higher than the June 2022 reading. This decline reflects growing pessimism among consumers about the…
U.S. Tech Titans Back UAE Stargate as AI Infrastructure Race Spreads Across Middle East and U.S.
Leading U.S. technology companies Nvidia, Cisco, Oracle, and OpenAI are collaborating on the “UAE Stargate,” a major artificial intelligence data center project in Abu Dhabi. Nvidia will provide cutting-edge hardware, specifically the Blackwell GB300 AI chips, to power the facility. This initiative aligns with a related U.S. AI infrastructure project announced shortly after President Donald…
NJ Transit Strike Halts Commuter Flow, Slams Local Businesses as Private Transit Steps In
The New Jersey Transit rail strike that began on Friday brought regional travel to a halt, impacting tens of thousands of commuters and hurting small businesses reliant on foot traffic from train stations. Establishments like Trackside Jo Cafe in Hoboken saw an immediate drop in customers, with the station described as “completely dead.” Business owners…
Short-Term Tariff Cut Fuels Long-Term Uncertainty as U.S. Small Businesses Stall Growth Plans
The recent reduction of tariffs on Chinese imports from 145% to 30% has offered temporary relief to U.S. small business owners, but the short 90-day duration of the deal has left many feeling more anxious than secure. Connor Alexander, a Seattle-based board game publisher, is among those feeling the pressure. Despite restarting production on two…
Walmart Defies Retail Slowdown as Shoppers Shift Habits and Tariffs Threaten Margins
While many retailers across the U.S. are grappling with reduced consumer spending, Walmart has continued to perform strongly. In its fiscal first-quarter earnings report for 2026, the retail giant reported a 4.5% increase in U.S. comparable sales year-over-year. This growth was driven by both an uptick in the number of customer transactions and higher average…
Moody’s Downgrade Reflects Soaring U.S. Deficits and Mounting Pressure for Fiscal Reform
Moody’s Investors Service has downgraded the United States’ sovereign credit rating from Aaa to Aa1, citing rising fiscal deficits and increasing debt servicing costs due to high interest rates. The agency noted that government debt and interest payment levels have grown significantly over the last decade, outpacing similarly rated countries. This adjustment brings Moody’s in…
Novo Nordisk CEO Steps Down Amid $300 Billion Stock Drop and Escalating Weight-Loss Drug Battle
Novo Nordisk announced that CEO Lars Fruergaard Jørgensen will step down in response to growing market pressures and a sharp decline in the company’s share price. The decision was made jointly by Jørgensen, the company board, and the Novo Nordisk Foundation. The announcement cited recent market challenges, the falling stock value, and the foundation’s wishes…
Consumer Sentiment Near Record Low as Tariff Concerns Fuel Inflation Fears and Economic Uncertainty
A recent University of Michigan survey revealed that U.S. consumer sentiment has dropped to 50.8 in May, down from 52.2 in April. This marks the second-lowest reading ever recorded, indicating growing worries among consumers. The decline is largely driven by concerns about tariffs and their impact on the economy. Rising Inflation Fears and Trade Uncertainty…