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California Politics 360 Full Episode | Governor & lawmakers debate proposed spending plan
This week, Gov. Gavin Newsom outlined his priorities, proposing to spend $349 billion. On California Politics 360, Ashley Zavala sits down with Republican State Sen. Roger Niello.
Lebanon War Losses Exceed $26 Billion Since 2024, Business Leader Warns
In remarks published Sunday by the Lebanese newspaper Ad-Diyar, Al-Bawab said that nearly $12 billion of the losses are needed for reconstruction efforts, warning that the figure will continue to rise if the conflict persists.
Senate parliamentarian deals blow to $1B security proposal for White House
A proposal to fund $1 billion in security additions for the White House campus and the president’s new ballroom fails to meet procedural rules.
Todd Graves’ Billion-Dollar Chicken Chain Started With the Worst Grade in Business School
Todd Graves told Masters of Scale host Jeff Berman that his Raising Cane’s business plan earned the worst grade in his partner’s business class, despite being painstakingly detailed. “The professor said, the plan’s exceptional. I mean, I knew details. I knew exactly what our aprons would cost to get washed,” Graves recalled. The strategic flaw, ... Todd Graves’ Billion-Dollar Chicken Chain Started With the Worst Grade in Business School
Retailers are making expensive bets that shoppers still want to go to stores
The nation’s biggest retailers are pouring billions of dollars back into their stores, even as more sales move online, in an effort to lure more shoppers and raise employee efficiency.
A unique Oregon law allows it to block healthcare deals. In five years, the state hasn’t done so once
Lawmakers said that giving the state oversight would stop multibillion-dollar deals from reducing care and increasing costs. Some who supported the law say it hasn’t been nearly as effective as they hoped.
Billionaire Jim Thompson reflects on daughter running family business
Jim Thompson told Business Insider how he balanced building a company with raising his daughter, who now runs the family business.
What it's like to run family business when dad is billionaire founder
Jennifer Harvey, the CEO of Crown Worldwide, spoke about the rewards and challenges of running the family business founded by her billionaire father.
To Critics, Trump Remarks Reveal a Billionaire Out of Touch
The president has never pretended to be an ordinary American, but a recent “truth bomb” has opened him to criticism that he doesn’t grasp the economic strain of his war with Iran.
To Critics, Trump Remarks Reveal a Billionaire Out of Touch
The president has never pretended to be an ordinary American, but a recent “truth bomb” has opened him to criticism that he doesn’t grasp the economic strain of his war with Iran.
Korea’s SK Siltron receives $544 mn loan from DOE for wafer investment
Doosan Group is set to close a deal to acquire 100% of SK Siltron Co., a roughly 5.5 trillion won ($3.7 billion) transaction that would recast the South Korean
Mars Experienced Catastrophic Flooding 3.5 Billion Years Ago, Reshaping Planet's Surface
The new images highlight how dramatically different Mars' climate and geology were during its early history.
Senate parliamentarian deals blow to $1 billion security proposal for White House
A proposal to fund $1 billion in security additions for the White House campus and the president’s new ballroom fails to meet procedural rules.
Senate parliamentarian deals blow to $1 billion security proposal for White House
A proposal to fund $1 billion in security additions for the White House campus and the president’s new ballroom fails to meet procedural rules, according to the Senate parliamentarian.
Is AMC Entertainment (AMC) Quietly Recasting Its Premium Content Strategy With Arena One Concerts?
Arena One and AMC Theatres recently launched “Arena One at AMC,” a nationwide, real-time interactive concert format bringing artists like Bebe Rexha, Paris Hilton, Kim Petras, and Maren Morris to more than 300 U.S. locations, while AMC also reported first-quarter 2026 revenue of US$1.05 billion and a reduced net loss of US$117.1 million. This combination of an immersive live-concert product and year-on-year improvement in quarterly results highlights AMC’s efforts to broaden content...
Now What? With Carbon Pricing Eroded and Pipeline Politics Advancing, Here Are the Pathways for Climate Success
At the end of a whirlwind week of news on carbon pricing and electricity strategy, capping a madcap year of pretty much non-stop, dramatic change, the word across much of Canada’s climate and energy transition community is that climate policy in this country has been shredded. Eviscerated. Hit with a sledgehammer by policy rollbacks that have pushed the country’s 2050 net zero target “well out of reach”. That means it’s never been more important to look for the rays of hope and glimmers of possibility. To glimpse the seeds of the next set of strategies to get Canada’s climate pollution under control and the country into the accelerating global dash away from fossil fuels. And then, once we’ve spotted those possibilities, get on with the hard, day-to-day slog of trying to make them a reality. Nothing takes away from the frustration and the deep disappointment so many climate and energy hawks are expressing, the sense of betrayal by the author of Value(s) and the former UN special envoy for climate action and finance. But we knew two things as the week drew to a close. We’re looking at the world as it most definitely is. And we don’t get to give up finding the pathways to confront climate change and deliver faster, deeper carbon cuts that leave no one else behind. So really, the first question we all have to ask ourselves is: What’s next? Subscribe All the Oxygen in the Room The outpouring of anger and grief over the carbon pricing deal between Prime Minister Mark Carney and Alberta Premier Danielle Smith has been absolutely understandable. So much of the climate community poured years, more than a decade, into dragging the current federal pricing regime across the finish line, then defending it from a deluge of three-syllable rhymes after the Trudeau government proved utterly incapable of delivering its own message. The policy foisted on us by neo-classical economists took up all the oxygen in the room, burned through years of climate response time that we won’t get back, while cornering climate hawks into the position that the best response to the crisis of our lifetimes is a new tax…in an era of historic anti-tax sentiment. I mean, really—what could possibly have gone wrong? Against that history, let’s appreciate columnist Max Fawcett’s point that even a modest carbon pricing agreement with a government as off-the-wall libertarian/conspiracist as Danielle Smith’s—those adjectives are mine, not Max’s—is a win worth savouring (as long as Smith keeps her promises for a change). But part of living in the world as it is (no, I’m not letting that go) is to be clear-headed about what we can and can’t control. And one thing we get to decide, after seeing this week’s carbon price festivities take up all the oxygen yet again, is whether we want to keep letting that happen. Particularly when success down that road depends on a factor that no one with a climate agenda can control or influence—a provincial carbon pricing mechanism that has been manipulated and eroded beyond its lowest possible denominator. Thankfully, that’s not the way it has to go. Not when we have so many other powerful, practical tools at our disposal, including the ones still available to us through this abominable Memorandum of Understanding (MOU) between Canada and Alberta. Tools In Our Toolbox When I started roughing out this list, I didn’t expect it to grow to nearly a dozen bullet points. It’s probably still incomplete. Some of the greatest hits in today’s climate solutions toolbox include: • No Carbon Capture, No Pipeline: On Friday, Prime Minister Mark Carney explicitly stated that there’s been no change to the MOU provision that there will be no West Coast pipeline without an industry commitment to build its massive, $16.5-billion carbon capture and storage (CCUS) hub in Northern Alberta, and vice versa. The two megaprojects were joined at the hip when the MOU was signed Nov. 27, and the implementation agreement this week affirmed that they still are. A parade of independent analysts have spent years pointing to the economic and technical flaws in CCUS, while the industry kept postponing its investment decision until it could arm-twist the government for more “clarity” (by which it meant even more lavish taxpayer subsidies) on the project. Now the industry itself is running away from the CCUS hub and insisting the pipeline should proceed without it, but Carney doesn’t seem to be budging from a central tenet of the MOU to which Smith has signed on. • No Subsidies, No Investors: Climate analysts and advocates have quite rightly been hammering away at Carney and his team, insisting that any new capacity the industry wants to build must proceed without new subsidies. The government has responded with a growing collection of funding and financing mechanisms for the very wide menu of industrial development and nation-building projects they say they want to take on, and that menu always includes fossil fuel infrastructure. But it’s hard to see how even the combined fiscal clout of the federal and supportive provincial governments will deliver the financial backing private investors would need when the business case for new fossil fuel development is evaporating before their eyes. Particularly when… • No Market, No Demand, No Investors: As our friend Markham Hislop at Energi Media (our apparently sleepless friend, given the massive volume of great material he’s been churning out) points out this morning, the biggest vulnerability in any pipeline deal is the assumption that Asian buyers will want the oil or liquefied natural ga that our fossil industry is so keen to send them. Hislop writes in part: Ottawa and Alberta are effectively betting that countries like China and India will continue increasing oil imports for decades as their economies grow and energy consumption rises. That assumption underpins the entire economic rationale for expanding oil sands production and building billions of dollars in new export infrastructure. But Asian energy systems are changing rapidly… China, India, South Korea, and other major hydrocarbon importers are now investing hundreds of billions of dollars into electricity systems built around wind, solar, batteries, nuclear, hydro, and expanded transmission infrastructure. Domestic “energy sovereignty” is increasingly replacing the old energy-security model based on stable oil and gas imports. Those investments are expected to sharply slow oil demand growth and eventually reverse it, even as overall energy consumption continues rising. There are also refining constraints. Many Asian refineries and petrochemical complexes are already optimized to process discounted heavy crude from the Middle East and Latin America. That raises serious questions about how much additional Canadian bitumen Asian markets can absorb at profitable prices. Small wonder that there’s still no private sector investor for the project, despite Smith’s government desperately beating the bushes to put together a deal. For now, Alberta is acting as proponent and covering early start-up costs for a pitch to the federal Major Projects Office, which could actually turn into the next tough hurdle for Smith and her pipeline to jump. • Canada Day Looms: How ironic that Canada’s birthday this year could become a major chokepoint for the provincial premier who’s been working so diligently to tear the country apart! The July 1 target date for Alberta’s pipeline proposal is baked into the MOU, was reaffirmed by the implementation plan, but it hadn’t dawned on me that it cuts both ways. As one very smart colleague wrote in an email yesterday, “they’ve thrown the ball into Alberta’s court to get the project proposal on the table really quickly and to have to do a whole pile of work to put together a massive, complicated project that would typically take years to assemble, and they’ve given them weeks to do it.” That makes July 1 a looming deadline that Smith won’t be able to run away from politically, especially with the separatists in her party and her caucus breathing down her neck. (See previous ref to off-the-wall.) But if Alberta comes in with a sloppy, incomplete submission, even after Carney bent over backwards to simplify the application process and the rules that govern it, it may be harder for the province or the industry to blame Ottawa and insist on the faster process they claim their investors are demanding. (Oh, wait—which investors would those be??) • We’ll See You In Court (Then We’ll See You Again): If Carney did cave, that would be just one more reason for Indigenous and other affected communities to take the government and the process to court—Just as Alberta First Nations did, successfully, in response to Smith’s half-baked separation referendum. Veterans of the Harper era have been warning that a shoddy process around fossil fuel infrastructure or other major projects will be a recipe for the very delays that process seeks to avoid. And now more than ever, with renewable energy and energy storage eating fossil fuels’ lunch in import markets around the world, a delayed pipeline or LNG terminal may be as good as a cancelled one. • Charged Up, Ready to Go: With its goal of doubling Canada’s electricity supply to meet a doubling of demand by 2050, the national electricity strategy that Carney unveiled Thursday has a lot to like. With its explicit language about speeding the shift from fuels to more efficient and affordable electricity, global investment and deployment patterns that already favour that shift, an emerging bidirectional power grid, the role of front-line options like rooftop solar and heat pumps, the emergence of electric vehicles as behind-the-meter energy storage, and the domestic jobs and manufacturing to make it all happen, the document doubles down on the essential cornerstone of a faster shift off fossil fuels. The strategy envisions a more prominent role for gas and nuclear power. But some of those provisions were already in the Clean Electricity Regulations that climate hawks are now fighting so hard to defend, inserted as a compromise in a futile attempt to mollify the industry and its political representatives in Alberta and Saskatchewan. But once again, gas will be a tougher sell when it’s more expensive and now so much more unpredictable than the clean alternatives. The new nuclear technologies are still speculative and deeply vulnerable to cost overruns. Increasingly, utilities, developers, and investors know it. Carney declared Thursday that “it doesn’t do us good to be sitting in court all the time with provinces. It doesn’t do us good to be talking past each other. What does do us good is to come together with specific projects.” There are no guarantees, but so much of the language and narrative-building in the electricity strategy suggests the lion’s share of those projects will be renewable. • The Party Has Already Started: The electricity strategy only rarely digs down to specific projects, but provinces representing three-quarters of Canada’s population are already embracing a faster transition. Hydro-Québec is working on a 10-year, $185-billion renewable energy and grid buildout by 2035. Ontario recently brought 10 provinces and territories together in a National Energy Corridor Agreement to boost interprovincial and -territorial transmission infrastructure. And the MOU implementation agreement commits Alberta to facilitate investment in renewable energy projects, a big step back from its continuing, punitive restrictions on renewables development. The electricity strategy envisions much of the financing and infrastructure that will be needed to pull those advances together into an integrated whole. • Delivering on Affordability: The MOU implementation plan has little or nothing to say about affordability (are you surprised?), but the electricity strategy does, with a top-line pledge to reduce home energy costs for seven out of 10 Canadian households by 2050, a total saving of $15 billion across the board. It’s just a start, but it puts affordability on the government’s narrative map. If they’re serious and deliberate about patching together a least-cost energy strategy, it’ll have little if any room for oil, gas, or nuclear—not with powerful evidence, for example, that electricity prices are higher when those prices are set by gas. • Smith Proves that Canada Works: By signing a deal that makes it harder to claim the federal government is blocking a new pipeline, Smith has helped prove Carney’s constant anti-separatist refrain that “Canada works”—incurring the rage, no doubt, of her own political base. Canada also needs to work for anyone who depends on a clean environment, healthy and thriving ecosystems, and safe, stable climate. But with Smith and her separatist constituents setting up as a fifth column for annexation by Donald Trump’s United States, let’s set aside any notion that 51st state status for Canada is a recipe for anything other than climate disaster (and so much else). Resisting and withstanding Trump (just 170 more sleeps until mid-term elections, which is a damn sight better than the 730 we started with) doesn’t mean a free pass for a pipeline, but we can still appreciate it that keeping Canada whole and sovereign is still Carney’s Job One. • The Words Not Spoken: Apart from a commitment to export a million barrels of “low-emission” Alberta bitumen per day (memo to Smith and Carney: You realize that that’s less than the industry is already exporting??), the MOU implementation plan says nothing about the international trade and economic sovereignty deals that Carney has been travelling the world to negotiate. It didn’t have to. Carney doesn’t need permission from Danielle Smith, her American enablers, or her separatist allies to continue building the alliances that will ratchet down our economic dependency on our unstable, unreliable neighbour to the south. But every connection he builds with countries outside North America helps align our economy and our future with a faster shift off fossil fuels. Little if any of this was on our bingo cards a year or two ago. But it’s the pathway that has opened up to us. And if it gives Canada any climate or energy gains at all in an era still dominated by Trump and his increasingly ridiculous tariffs, his loutish trade negotiations and his continuing annexation threats, we have to take the wins. Not least because they’ll be the point of departure for what we can achieve in 2027, 2029, and beyond, as Trump’s grip and this era begin to loosen and then fade. What is Carney Doing? If this line of thought is right—and it’s a possibility, not a prediction—it means that Carney’s actions and decisions are largely about buying time. Time for Trump’s power to wane. Time for Alberta’s separatist/conspiracist virus to spread, mutate, die out, or at least die back, with help from a vaccine of federal steadiness and calm (appropriate enough, for a movement populated largely by vaccine deniers) that no conspiracy theory can dismiss. And time for the government’s trade and investment agenda to deliver results—even knowing that some of those results will bring impacts that front-line communities will not and should not accept. In the immediate moment, none of this changes the way the wider climate community has to respond, from campaigners to investors to front-line practitioners. All of our voices are still essential. But those voices will be stronger and more confident if we have a clearer sense of the brutal game we’ve been pulled into, and a plausible path (or two it three) for playing it to the win we need. This conversation also underscores our biggest task for the remaining years of what was supposed to be the “decisive” decade for climate response: if we can shift the energy narrative in Canada, make it a mainstream view that the country’s preoccupation with oil and gas has us falling farther behind a changing world, we’ll see far better results in the 2030s and beyond. For many veteran climate advocates, taking on that part of the fight will begin with recognizing that most of our friends and family, neighbours and colleagues already understand that climate change is real and right in front of us: they’re looking away and staying silent because they don’t have what climate communicator Katharine Hayhoe calls “efficacy”. As Hayhoe recently pointed out in a feature interview with The Energy Mix, it amounts to science denial to keep hammering away at the dire news about global warming without also helping audiences understand what they can do about it, with multiple studies telling us why that won’t work. Far better to open those conversations with the dominant crises like energy security, food security, emergency preparedness and business continuity, affordability, and financial security that have knocked climate change far lower on the list of public priorities, and will likely keep it there. We Knew This Would Happen Climate hawks have always known this day would come. For decades, we warned that everyone had to pay attention to climate change right now, because it would be much tougher to respond once the crisis itself started affecting our daily lives. We were right, and here we are. But now, thanks to decades of hard work, communities and countries have an alternative to doubling down on fossil fuels. “In 10 years everyone will have ‘always known’ that solar and batteries were going to win,” Morgan Solar Executive Chair Mike Andrade writes on LinkedIn. With the disruption in the Strait of Hormuz roiling energy priorities around the world, Canada and the United States are among the shrinking number of countries that are still very keen on fossil fuel development. Understanding that gap is a first, essential step in spotting the opportunities ahead, and averting the deep economic as well as environmental and social risk we face if we don’t seize them. Thanks for reading The Energy Mix Weekender! Subscribe for free to receive new posts and support our work. Subscribe Mitchell Beer traces his background in renewable energy and energy efficiency back to 1977, in climate change to 1997. Now he and the rest of the Energy Mix team scan 1,200 news headlines a week to pull together The Energy Mix and The Energy Mix Weekender. Chart of the Week BYD Eyes 20 Dealership Locations After Canada Greenlights Chinese EV Imports ‘Sledgehammer’ Carbon Price Deal Boosts Emissions by 230Mt, Aims for Fall 2027 Pipeline Approval ‘Worse Than Harper’: Regulatory Rollback Would Stop Canada from Assessing Project Impacts, Critics Warn Electricity Strategy Aims for Doubling by 2050, Allows ‘Flexibility’ for Gas Power Plants Opposition Mounts as O’Leary’s Data Centre Approved in Drought-Stricken Utah Diluted Carbon Price Misses ‘Reality of the World We’re In’, Could Impede Diversified Trade: Climate Institute $200B in Clean Energy Investment Will Need On-Time Delivery, Reliable Policies, Trade Association Says ‘Sovereign Pipeline’: CEO Pitches to Keep Trans Mountain in Government Hands What a Supercharged El Niño Could Mean for Canada Canada’s future is electric, and here’s how a power grid superhighway would get us there (Toronto Star) The Perilous Waters of Hecate Strait (Globe and Mail) Saudi Aramco profits jump despite conflict in Middle East (The Guardian) Farmers confront rising cost of fertilizer and fuel as spring seeding under way (Canadian Broadcasting Corporation) Clarkson forecasts 24% decline in offshore oil, gas capital expenditures (Oil & Gas Journal) Pipe Dreams: How Oil and Gas Fail to Deliver Economic Development in Africa (Oil Change International) Developing countries must hold the pen to script the fossil fuel transition (Climate Home News) Iran war threatens the dream of a post-oil economy in the Gulf (Washington Post) U.S. Oil, Gas Work Force Hits Lowest Level Since 2022 (Rigzone) Why Polestar Is Doubling Down on Net Zero as Rivals Pull Back on EVs (Bloomberg) Why this Michigan utility plans to sell its hydro dams for $13 (E&E News/Politico) Levees can no longer save New Orleans (Vox)
Digital piracy is on the rise and the entertainment industry is losing billions
The industry faces a growing problem that’s comes at a high cost
Digital piracy is on the rise and the entertainment industry is losing billions
“Avatar” film leaked early, costing Paramount profits. Digital piracy costs entertainment $75B annually, driven by subscription fatigue and rising costs.
First-ever direct image of the cosmic web reveals the Universe’s hidden highways
Astronomers have revealed the sharpest image ever captured of a filament in the cosmic web — the enormous hidden structure connecting galaxies across the Universe. The glowing strand stretches 3 million light-years and links two galaxies from nearly 12 billion years ago. By observing this faint intergalactic gas directly for the first time in such detail, scientists gained new insight into how galaxies are fueled and formed.
Lupita Nyong'o Will Play Helen Of Troy In ‘The Odyssey’ — And Elon Musk’s Reaction Was Exactly What You’d Expect
The tech billionaire doubled down on his criticism of Christopher Nolan’s star-studded film adaptation.
The world’s richest musician has a nearly $3 billion net worth. Can you guess who it is?
Music is big business.
Google’s Android Upgrade—Why You Need A New Phone In 2026
Bad news for a billion-plus Samsung and Pixel owners — only new phones get Google's new upgrade.
Even Trump Is Trapped by Gas Prices
The price of gas is the most powerful number in US politics, prediction markets are a tax on suckers, and the great wealth transfer includes $570 billion in classic cars.
Bill Ackman says Alphabet stake sale not a bet against the company
Billionaire investor Bill Ackman said on Saturday that the sale of Google parent Alphabet's shares was not a bet against the company.
Trump Administration Weighs $1.7 Billion Fund for Allies Investigated Under Biden
Critics denounced the highly unusual plan, which has yet to be finalized or approved, as a vast political slush fund financed by taxpayers.
NSF Announces $1.5 Billion X-Labs Initiative to Pursue Generational Breakthrough Science Efforts
The U.S. National Science Foundation announced a $1.5 billion, decade-long NSF X-Labs initiative aimed at funding research teams.
Trump and top CEOs leave a more self-reliant China with few deals to show for it
Before leaving a two-day summit in Beijing, President Donald Trump said he had made many trade deals with China, accompanied by a cohort of “brilliant” tech billionaires.
The rise of the progressive billionaire candidate
Why some on the left are feeling warmly toward Tom Steyer and other very wealthy contenders.
U.S. businesses edge toward another $25 billion tariff refund
Federal courts questioning Trump-era tariffs, raising the possibility that U.S. importers could see a second round of refunds
Reform donor and crypto billionaire Christopher Harborne takes sixth place in UK Rich List as wealthiest people grow richer
Rolling coverage of the latest economic and financial news
BrightSpring Health Services (BTSG) Is Up 10.3% After Raising 2026 Revenue Guidance And Q1 Beat – Has The Bull Case Changed?
In early May 2026, BrightSpring Health Services reported first-quarter results showing revenue of US$3.61 billion and net income of US$148.77 million, and also raised its full-year 2026 earnings guidance to expected revenues of US$14.73 billion to US$15.23 billion. The combination of outperformance in specialty pharmacy and infusion services, efficiency gains from automation, and successful home health integrations is reshaping how investors view BrightSpring’s earnings power and growth...
NSF Plans $1.5B Funding for ‘Breakthrough’ X-Labs Science Partnerships
The National Science Foundation (NSF) announced on May 14 that it plans to invest up to $1.5 billion over the next decade in its existing NSF X-Labs initiative.
Trials, Traitors and $16.5 Billion Extra Cash: AI Reshapes Wealth, Politics and Budgets in California
The artificial intelligence boom is minting fortunes, shifting political careers and helping balance state budgets.
Trump officials hit California with ‘largest ever’ freeze on Medicaid funds
The Trump administration suspended $1.1 billion in California Medicaid funds over fraud claims, threatening home care for 900,000 seniors and people with disabilities.
CA governor candidates to face off in what may be last debate before June primary
Steyer’s billions, Hilton’s Trump endorsement, and Becerra’s baggage are all in play — but one new development could dominate the night.
NSF announces $1.5B NSF X-Labs initiative to pursue generational breakthrough science efforts
Today, the U.S. National Science Foundation announced $1.5 billion over the next decade toward the NSF X-Labs initiative to tackle pressing scientific challenges through novel and innovative...
Scientists Just Measured an Energy Pulse Smaller Than a Trillionth of a Billionth of a Joule
A newly developed quantum sensor has measured unimaginably small amounts of energy with record-breaking precision.
Salesforce, Echo Health Ventures back Optura's $17.5M series A to track AI performance
Healthcare organizations are rapidly adopting artificial intelligence technologies but without a clear blueprint for how to measure the business value of these investments. | Optura claims that more than $2 billion in AI initiatives currently run on its platform, with $120 million in tracked value at a 700% return on AI investment on in-flight initiatives.
Venezuela embarks on $150 billion restructuring of debt amid political turmoil
Venezuelan officials said they wanted to “free the country from the burden of accumulated debt.”
Inside Scale AI’s Business After Meta’s Bombshell $14 Billion Deal
How Scale AI Is Adapting Post Meta Deal And Founder’s Departure
LinkedIn expands into creator-led events, eyes big revenue
LinkedIn plans to expand creator-led events, aiming for 4,000 annually, as part of its strategy to tap into the multi-billion dollar creator economy.
Ted Cruz and Alexandria Ocasio-Cortez trade jabs over billionaires
The Texas Republican and New York Democrat are leading members of their respective parties, with each viewed as a potential 2028 presidential contender.
YAS ISLAND TO BE HOME OF SPHERE ABU DHABI, A NEW GLOBAL ICON FOR IMMERSIVE ENTERTAINMENT
The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Sphere Entertainment Co. (NYSE: SPHR) today announced that Yas Island has been selected as the location for Sphere Abu Dhabi, a landmark project with a construction phase cost of USD 1.7 billion. Poised to become a global icon, the venue will attract tourists from around the world, boost economic diversification, and strengthen Abu Dhabi's sense of place for residents and visitors alike. Sphere Abu Dhabi, which will be the first Sphere venue outside the United States, will be built on a plot of land between Yas Mall and SeaWorld Abu Dhabi, with lush green surroundings and proximity to other Yas Island theme parks and attractions. Construction on the venue is expected to be completed by the end of 2029. HE Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said: "Abu Dhabi has always built for the long term, and Sphere Abu Dhabi is a powerful demonstration of that commitment. In a region where the appetite for
Meta Challenges New Mexico's $3.7 Billion Plan for Teen Mental Health in Social Media Trial
By Diana Novak Jones May 13 (Reuters) - A lawyer for Meta Platforms on Wednesday argued that New Mexico's $3.7 billion proposal to address teen mental health harms goes too far, saying it would force the company to pay for mental health care for all of the state's teenagers and not just those it ...
Ford stock surges 13% on investor optimism for new energy storage business
Investor support for Ford Motor's energy storage business sent its stock soaring 13% Wednesday, the biggest single-day increase in about six years, following a note from Morgan Stanley highlighting details released by the company on Monday. Ford announced its wholly-owned energy subsidiary late last year, and it is being directed by Lisa Drake, who has been a key leader in the company's efforts around electric vehicles. • After a $19.5 billion writedown on its EV programs in December, Ford announced it would launch an energy storage business, utilizing plant space in Kentucky that was previously meant to produce batteries for electric vehicles.
Justice Department considers settling Trump’s $10 billon IRS leak lawsuit
The Justice Department is discussing whether to settle President Donald Trump’s $10 billion lawsuit against the Internal Revenue Service in the coming days, according to two sources familiar.
Vast majority support $1.8B state spending plan in our reader survey
Nearly 200 readers sent in their thoughts about lawmakers' $1.8 billion compromise, with more than three-quarters saying lawmakers should pass it.
The Milky Way ate a galaxy called Loki, and scientists think they found its bones
Astronomers have identified a group of ancient stars that may be the remnants of a dwarf galaxy named Loki that merged with the Milky Way more than 10 billion years ago.
The Milky Way ate a galaxy called Loki, and scientists think they found its bones
Astronomers have identified a group of ancient stars that may be the remnants of a dwarf galaxy named Loki that merged with the Milky Way more than 10 billion years ago.
Republican senators say they need more detail on $1B White House security request
Republican senators left a meeting with the director of the U.S. Secret Service on Tuesday saying they need more details on a $1 billion security plan for the White House, including a proposed $220 million to secure President Donald Trump’s new East Wing ballroom.
What's in the billion dollar paragraph behind the White House ballroom debate
The $1 billion request is tied directly to the transformation of the East Wing into a massive ballroom, though limited to “security”-related needs. Here's what we know.
Taiwan anxiously eyes Trump’s summit in China, with $14 billion in US arms sales up in the air
As President Donald Trump meets with Chinese leader Xi Jinping this week, Taiwan will be nervously monitoring from afar to ascertain whether its political status and critical arms purchases come up in discussions between the two leaders.
Tariff Refunds Begin to Reach Businesses as Trump Lashes Out at Court
The government must return about $160 billion, plus interest, collected from duties deemed illegal and potentially more if it loses a related tariff case.
Why America’s Family Businesses Are The Quiet Engine Driving The Economy
Byron D. Trott, chairman and co-CEO of BDT & MSD Partners and advisor to many billionaire-owned companies, discusses why Forbes’ inaugural list of America’s top family companies matters now more than ever.
Miami got NYC’s billionaires. Will it get their businesses?
Wall Street South vs Wall Street North
AI Life Science Firm Metis TechBio Set for HK Debut After IPO
Metis TechBio Co, a biotechnology company using artificial intelligence to deliver and formulate drugs, is set to begin trading in Hong Kong after raising HK$2.1 billion ($270 million) in an initial public offering.
Secret Service Makes Case for Security Funding Amid G.O.P. Unease on Ballroom
The presidential protection agency detailed how it would use a proposed $1 billion as Republicans asked for more detail and Democrats went on the attack.
Norman breaks ground on Rock Creek Entertainment District, OU arena
After years of delays and political fights, OU and Norman officials broke ground on the $1.1 billion Rock Creek Entertainment District on Tuesday, May 12.
Starbucks billionaire Howard Schultz rips Seattle's 'socialist' mayor, claims city and state 'hostile' to business
PayPal to give up $30M after DOJ accusations of bias in favor of minority-owned businesses
PayPal is expected to launch a new initiative waiving processing fees on $1 billion’s worth of transactions at the value of $30 million after signing a Tuesday settlement with the Justice Dep…
Controversial entertainment district breaks ground in Norman
The groundbreaking of a controversial entertainment district took place in Norman on Tuesday.The Rock Creek Entertainment District is a $1.1 billion, 269-acre m
Norman leaders break ground on $1.1 billion entertainment district that'll house new OU arena
Ground has officially been broken on a $1.1 billion entertainment district that will house the new University of Oklahoma arena.
Norman developers break ground on site of future Rock Creek Entertainment District
Norman leaders say the $1 billion mixed-use development near OU could bring jobs, tourism and new entertainment opportunities to the city.
Galaxy Entertainment Prioritize Non-Gaming Amid Strong Q1 Results
Galaxy Entertainment Group posted a robust adjusted EBITDA of HKD$3.576 billion (US$458 million) for Q1 2026, marking an 8% year-on-year increase.
Wendy's has a billionaire circling its ailing business
Wendy's may have a bidder for its struggling business.
Government Seizes Farmer’s Land to Build Airport for Corporate Jets and Business Hangars
“I’m just a farmer in their way,” says Georgia producer Jeff Melin. “Force me to sell, take my land, and fly in the billionaires and big companies.”
Why 57% of business leaders say their metrics will fail
Companies are investing billions in AI-powered dashboards, predictive analytics and real-time reporting. Yet there's a widening gap between data availability and decision quality.
Galaxy Entertainment Group Selected Unaudited Q1 2026 Financial Data
Leading Macau’s Non-Gaming Diversification Through Mice, Entertainment and Sporting Events Q1 2026 Group Normalised EBITDA of $3.6 Billion, Up 21% Year-on-Year, Flat Quarter-on-Quarter Continued to Ramp Up Capella at Galaxy Macau Business A Final Dividend of $0.80 Per Share Payable in June 2026 HONG KONG, May 12, 2026 (GLOBE NEWSWIRE) -- Galaxy Entertainment Group (“GEG”, “Company” or the “Group”) (HKEx stock code: 27) today reported results for the three-month period ended 31 March 2026. (All a
Senate Republicans weigh whether to swallow Trump’s $1B push for ballroom security
Key Senate Republicans are signaling a willingness to support up to $1 billion in security upgrades for President Donald Trump’s ballroom renovation project, despite Democratic attacks, as the White House ramps up its lobbying push.
James Webb telescope reveals the clearest map ever of the Universe’s cosmic web
Astronomers using NASA’s James Webb Space Telescope have created the clearest map yet of the universe’s “cosmic web” — the enormous hidden structure that connects galaxies across space. By analyzing more than 164,000 galaxies through the massive COSMOS-Web survey, researchers were able to trace this vast network back to when the universe was just a billion years old.
BMO Financial Group to Sell Transportation-, Vendor-Finance Businesses to Stonepeak
The proposed sale includes a combined loan and lease portfolio in the U.S. and Canada that totals about $10.6 billion as of the end of March.
Democrats try to corner Republicans on $1 billion proposal for Trump’s ballroom: From the Politics Desk
Plus, MAGA world fights over the “hottest ticket in town.”
BMO to Sell Truck, Trailer Financing Businesses to Stonepeak
Bank of Montreal agreed to sell its business that finances trucks, trailers and equipment to Stonepeak, offloading a portfolio that totals about C$14.5 billion ($10.6 billion).
Tax break for United Center’s 1901 Project advances amid union pushback
The request for a property tax break has given a hospitality union leverage in negotiations over permanent jobs created in the $500 million first phase of the $7 billion mixed-use development.
Jefferson CEO, in visit to Lehigh Valley, says ball is in UnitedHealthCare’s court after policyholders go out of network with LVHN
“I think they’re trying to wait us out because they have billions,” Jefferson CEO Joseph Cacchione said regarding the ongoing contact dispute between Lehigh Valley Health Network, which is part of Jefferson, and UnitedHealthCare.
City Council panel backs tax incentives for United Center entertainment district
A plan to provide nearly $55 million in tax rebates for the $7 billion project that’s meant to be “transformative” for the West Side sailed through the council’s economic development committee.
NYC’s billion-dollar businesses issue a high-stakes economic alert on impact of proposed new taxes
A report from the Partnership for NYC shows that member companies support around 940,000 jobs and contribute billions to the local economy.
City Council panel backs tax incentives for United Center entertainment district
A plan to provide nearly $55 million in tax rebates for the $7 billion project that’s meant to be “transformative” for the West Side sailed through the council’s economic development committee.
Evers, GOP leaders reach $1.8B deal to lower taxes, boost school funds
Democratic Gov. Tony Evers and Republican legislative leaders have struck a nearly $2 billion deal to deliver new funding to schools and provide tax relief.
Democrats vow to fight Senate Republicans' $1 billion security proposal for White House ballroom
While most GOP lawmakers have remained quiet on the proposal as they spent their recess out of Washington, some have publicly questioned whether they would support it.
Boothbay Harbor businesses ready for tourism season
A report released late last month by the Maine Office of Tourism showed visits statewide were down 4.4% in 2025, although direct tourism spending exceeded $9 billion, a record high.
Broadcom's Future $100 Billion Custom Chip Business Is Your Sign to Buy Now
Broadcom's custom chip business is rapidly accelerating.
Broadcom's Future $100 Billion Custom Chip Business Is Your Sign to Buy Now
Broadcom's custom chip business is rapidly accelerating.
Retail Giants Spend Billions to Make Stores Look Nicer
Walmart, Target and Dollar General are among those investing in remodeling thousands of existing stores, even as shoppers take their dollars online.
Jared Wolff Plots Banc of Cal's Next Chapter - Los Angeles Business Journal
Sitting at the helm of the $34 billion Banc of California, Jared Wolff is too busy to think about legacy. In seven years as the Brentwood-based regional
Marc Theissen warns Democrats embracing ‘politics of envy’ amid AOC’s criticism of billionaires
The ‘Fox News Sunday’ panel debates Democratic messaging on billionaires and the party’s shift toward socialism.
Chicago Teachers Union wants $8.5 million dues hike to fund politics
“Has your brand become toxic?” This was a pointed question from WGN Political Editor Tahman Bradley, posed to Chicago Teachers Union President Stacy Davis Gates in a recent interview. Her immediate response: “I don’t understand the question.” When pressed, Gates added, “The Chicago Teachers Union is not a political party, it is a labor union.” But internal union documents show CTU leadership is trying to skim $8.5 million more from teacher paychecks explicitly for politics, while trying to silence union members critical of Gates’ leadership. Under the proposed dues hike, Chicago teachers would see up to $800 more per year flow from their paychecks to union coffers. The union already takes in more than $40 million a year, mostly from dues. And it spends less than 18 cents of every dollar on teacher representation. The No. 1 reason for the proposed dues hike? Politics. “We must win a majority of the first 21 person fully elected school board in November,” reads the first point in CTU’s member FAQ document.1 This directly contradicts CTU’s promise to members about how leadership uses dues money. The official CTU handbook tells members that the union does not use dues money for politics, so if they are interested in funding political activity, they should consider voluntary donations to CTU’s political action committee. “Our dues are not used for political purposes,” according to the handbook. “So our PAC relies on extra contributions from our members to support progressive candidates and to impact elected officials at the city, county and state levels.” This kind of double-speak is one reason members are concerned about another constitutional change slipped into the dues hike vote, which will take place on May 20-21: an attempt to stop members from holding the union accountable. A proposed amendment to the union constitution tries to place limits on when members may bring a lawsuit against the union for violating members’ rights.2 This provision is clearly a response to members’ lawsuit against union leadership regarding Gates’ years-long refusal to publish audited financial statements. The judge in that case has repeatedly denied the union’s attempts to dismiss it. Teachers opposed to these changes have been circulating this flier, urging members to vote no. What will CTU members get in return for millions of dollars in additional dues? If the 2024 school board elections are any indication—not much. CTU leadership’s record on school board races may not inspire confidence among members. A Chicago Policy Center analysis of a dozen affiliated PACs found CTU spent nearly $2.9 million on school board races in 2024. Of that spending, more than $2.1 million (75%) went to losing candidates. And while CTU-backed candidates lost six of the nine competitive seats overall, they fared worse in their biggest-spending races, losing five of six contests in which the union and its affiliates put up more than $250,000 for their candidate. The Chicago school board elections take place Nov. 3.3 Is another $8.5 million enough to clean up a toxic reputation? Not likely. Update on federal tax credit scholarship: Last week, Democratic New York Gov. Kathy Hochul said she plans to opt into the federal tax credit scholarship program. If Illinois Gov. JB Pritzker follows suit, Illinois could unlock $1 billion in donor money statewide for both public- and private-school students. If Illinois does not opt in, that money will flow to other states. The Last Ward reported in February on how Illinois Democrats could unlock at least $100 million in new resources for Chicago public-school students by opting in. Update on the investigation into how Chicagoans learned about a meeting to hike their property taxes: The Last Ward reported in January on an absurd, taxpayer-funded investigation into how local media learned of a planned Chicago school board meeting to hike the district’s property tax levy. That investigation is now complete. Lawyers interviewed two dozen witnesses, and found nothing. Update on Illinois’ muni debt crisis: My colleague Joe Tabor last week published a must-read piece in Crain’s Chicago Business about how Illinois recently rejected south suburban Harvey’s request to be designated a “distressed city.” The saga shows why the state must implement a better structure to assist insolvent local governments, including allowing for the option to pursue debt relief via Chapter 9 bankruptcy. The Last Ward reported in October on how Harvey is tipping the first domino in Illinois’ municipal debt crisis. Mincing Rascals: I joined the Mincing Rascals podcast to discuss the SAFE-T Act, the millionaires tax, and more. My “green light” recommendation: Force Majeure (2014). 1 Notably, the No. 2 reason cited is “resources to fund a state-wide millionaires tax campaign in order to fully fund the state’s school funding formula.” The constitutional amendment necessary to implement a progressive income tax in Illinois recently died in the Illinois House, meaning this question would not appear on the ballot until 2028 at the earliest. 2 There is seemingly no single-subject rule for CTU constitutional amendments. So members only get one vote on the full package. One cannot vote “yes” on the dues hike and “no” on the restriction of members’ rights, for example. 3 Illinois law grants far too much power over local government to unelected officials like Gates. State lawmakers should fix that.
Farage trying to avoid scrutiny over £5m gift from crypto billionaire, Labour says
Reform’s deputy leader, Richard Tice, seeks to present issue as irrelevant in interview with Laura Kuenssberg
The richest musician alive has a $2.5 billion fortune. Can you guess who it is?
Music is big business and it can pay well.
Meet Goldman’s athlete whisperer: the woman who stands guard against $1 billion of fraud targeting sports fortunes
Nicole Pullen Ross has advised the ultrawealthy for 26 years at Goldman Sachs. She talked to Fortune about working in sports and seeing a number get retired.
Jennie takes home 20 billion won from self-founded OA Entertainment over two years
K-pop star Jennie has received more than 20 billion won ($13.68 million) in earnings distributions from her own entertainment company in just two years, according to filings with the Financial Supervisory Service on Sunday.
BLACKPINK's Jennie Receives 23.8 Billion Won Settlement From OA Entertainment
BLACKPINKs Jennie Receives 23.8 Billion Won Settlement From OA Entertainment Singers Personal Label Paid Total Over Two Years After Establishing One-Person Agency in 2023
Johnson & Johnson CEO: America’s innovation advantage starts with health
From AI-accelerated drug discovery to a $55 billion domestic manufacturing push, the U.S. health innovation engine is just getting started.
How private equity is chasing the $900 billion data center opportunity
Private markets giants are more bullish than ever on their data center bets. After all, with a $900 billion opportunity, there's room for everyone.
Colorado governor signs $47 billion budget in which ‘nobody won’
Gov. Jared Polis on Friday officially signed a $46.87 billion spending plan for the Colorado state government in the next fiscal year. His signature is the culmination of months of work by legislators, who resorted to cuts, transfers and other mechanisms to balance the 2026-27 budget amid a deficit of more than $1 billion. That […]
Sports deals are becoming AI protection
Sports is no longer just a diversion for billionaires and private equity.
Sony forecasts lower gaming business sales amid memory price surge
By Sam Nussey TOKYO, May 8 (Reuters) - Sony forecast on Friday annual sales at its gaming business would fall 6% to 4.42 trillion yen ($28 billion) due to lower hardware sales as its PlayStation 5 ages and as the industry grapples with a surge in memory chip prices. The Japanese company, however, said it expects gaming profit to rise 30% due to higher first-party software sales and the absence
Sony forecasts lower gaming business sales amid memory price surge
STORY: Sony forecast lower sales in its gaming business due to a memory chip price surge.The tech giant said Friday annual sales in the segment would fall 6% to $28 billion.It also blamed lower hardware sales as its PlayStation 5 ages.Although the Japanese company said it expects gaming profit to rise 30%.That's due to higher first-party software sales and no repeat of the impairment loss it recorded a year earlier.Sony has been praised by analysts in recent years for its transformation into an entertainment powerhouse.But markets have grown concerned about the impact of AI on its business, while Sony also faces a perceived lack of growth catalysts.Both factors have weighed on shares in recent months.Investors are also concerned about the impact of a memory-chip price surge.As well as disruption to supply chains from the Iran war on margins at electronics manufacturers.The firm said it sold 1.5 million PS5 consoles in the fourth quarter, which was a 46% drop on the same period a year earlier.Looking ahead, the PS5 is expected to receive a major boost from the launch of the delayed "Grand Theft Auto VI."The game is due to release in November.Sony said in February it had secured the minimum quantity of memory needed to manage the year-end shopping season. Sony also said it sees higher profits at its pictures and chips units but a lower profit at its music business.The group reported operating profit for the year ended March rose 13.4% to $9.2 billion - below analyst forecasts. Meanwhile, rival Nintendo said it expects to sell 16.5 million units of its Switch 2 console in the financial year ending March 2027.It also projects profit to rise 2.7% to $2.36 billion.But, like with Sony, investors are concerned about the possible impact of a memory price surge on margins.
Taiwan Breaks Political Deadlock to Approve $25 Billion U.S. Arms Purchase
With time running out, Taiwanese lawmakers approved funds for buying U.S. weapons, fearing they could lose support if they didn’t act now.