On Tuesday, Microsoft announced it is laying off 3% of its global workforce, amounting to approximately 6,000 employees across all levels, teams, and regions. The company emphasized that these layoffs are part of ongoing organizational changes aimed at positioning Microsoft for success in a rapidly changing marketplace. A Microsoft spokesperson clarified that the job cuts…
Category: News
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…
House Republicans propose Medicaid cuts as Democrats warn millions could lose coverage
House Republicans have released the main cost-cutting part of President Donald Trump’s “big, beautiful bill,” proposing at least $880 billion in reductions, mostly from Medicaid — to help fund $4.5 trillion in tax cuts. The lengthy legislation, made public late Sunday, is sparking the most intense health care fight since Republicans tried to repeal and…
Arizona Democrat Sen. Gallego enters immigration debate with fresh proposal
Democratic Arizona Senator Ruben Gallego is stepping into one of Washington’s most heated and difficult political challenges as he presents a plan on Monday to reform the country’s immigration system and strengthen border security. Gallego, who narrowly defeated Republican Kari Lake in last fall’s Senate race, is proposing to hire more Border Patrol agents, use…
Apple Shares Soar After Trump Talks Tariff Truce and $500B Investment With CEO Tim Cook
President Donald Trump announced on Monday that he spoke with Apple CEO Tim Cook following a temporary agreement between the U.S. and China to suspend most tariffs for 90 days. The announcement, which aimed to ease tensions in the ongoing trade war, was met with positive reactions from Wall Street. Apple’s stock surged by 6%,…
Memorial Day Travel to Hit 20-Year High as 45 Million Americans Plan Getaways Despite Road Delays
This year’s Memorial Day holiday weekend is set to break a two-decade travel record, according to projections released by AAA. Between Thursday, May 22, and Monday, May 26, approximately 45.1 million Americans are expected to travel at least 50 miles from home. This figure surpasses the previous record of 44 million travelers during the same…
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…
McDonald’s Launches Massive 375,000-Worker Hiring Drive Amid Sales Slump and Summer Surge Plans
McDonald’s has announced plans to hire up to 375,000 employees across its 13,000 U.S. restaurants in preparation for the summer rush. This marks the company’s largest hiring campaign in five years and was officially revealed during an event in Ohio alongside U.S. Labor Secretary Lori Chavez-DeRemer. The hiring spree is also in anticipation of the…
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…
Chamath Palihapitiya Warns of Looming Liquidity Crunch as Subprime Credit Markets Flash Distress Signals
Billionaire investor Chamath Palihapitiya has issued a warning regarding the declining financial health of American consumers. Speaking on the All-In Podcast, Palihapitiya emphasized that a key financial metric, the price-to-book (P/B) ratio of subprime lenders, suggests potential trouble ahead. He pointed to Capital One and Credit Acceptance as examples, noting that fluctuations in their P/B…