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Trump’s UFC matches are unprecedented, but sports at the White House aren’t
From “Hoover-ball” to horseshoes, sports have long been a part of the White House, although there has never been anything like the live UFC event to be held Sunday.
The inflation surge is hitting businesses, too
The Producer Price Index, which tracks costs businesses pay, rose at its fastest rate since 2022, adding to worries that higher energy costs tied to the war with Iran are mounting.
The Rock talks politics, says Trump should 'sit down' with Springsteen
In a new Esquire interview, Dwayne Johnson touched on politics and said President Donald Trump and Bruce Springsteen \
JD Vance’s chief of staff Jacob Reses to leave Trump administration
Jacob Reses, who has been with Vance since his successful 2022 Senate campaign in Ohio, is expected to remain close to the vice president’s team.
Xbox layoffs planned as CEO Asha Sharma orders business reset
The Microsoft gaming unit's accountability margin has fallen to 3%, and revenue declined nearly half a billion dollars over five years
Destiny 2's final update causes the biggest jump in players in nearly two years, as Marathon numbers coincidentally drop to near their lowest
Destiny 2's final update has brought back thousands of lapsed players, and the turnout has given people hope that it may not be the end, after all.
NFIB: SQ 832 will destroy small-business jobs, raise prices
According to the National Federation of Independent Business, SQ 832's substantial increase in labor costs would force many employers to raise prices,…
Scientists built a battery-free device that turns sunlight into fuel
Scientists have developed an artificial photosynthesis system that essentially regulates itself, eliminating the need for batteries used in many current designs. The key innovation is an electrolyzer that automatically adapts to changing sunlight by altering its electrical properties as it heats up. This keeps solar fuel production more stable while reducing cost and complexity.
Scientists discover a strange property in rice and turn it into a smart material
Scientists discovered that rice behaves in a highly unusual way: it weakens under rapid compression but stays stronger when pressure is applied slowly. Using this effect, they engineered a new material that reacts differently to gentle movements and sudden impacts. The material can adapt its stiffness automatically, opening the door to safer soft robots and protective equipment that responds instantly to collisions.
How Many Days a Week Should I Strength Train To Boost Heart Health?
In TODAY.com’s Expert Tip of the Day, a sports medicine doctor explains how exercise that strengthens your muscles can benefit heart health as well.
My business is not my baby, and yours shouldn’t be either
This mindset is holding founders back from scaling.
John Healey resigns as defence secretary over military spending
Minister accuses Starmer of being ‘unable to commit the resources to defend the country at this time of rising threats’
Memphis People in Business for June 11, 2026
A look at promotions, hirings, movers and newsmakers in the Memphis area business scene
Social Security is Facing a Political Crisis
On Tuesday the Social Security Trustees released their latest report on the system’s finances. The numbers didn’t change much: Unless something is done, the Old Age Survivors and Disability Insurance (OASDI) program, Social Security’s official name, will be unable to pay full benefits starting in either 2032 or 2034, depending on some technical issues. That’s not far away: If the Trustees are right, the prospect of a Social Security crisis will loom over the next presidential administration. It’s important to understand, however, the nature of the looming crisis. It won’t be an economic crisis. It won’t even be a serious fiscal crisis. Whatever you may have heard, Social Security isn’t in danger of going bankrupt. What we’re facing, instead, is potential political crisis. Congress and the White House could easily take action to sustain America’s retirement system. But given the current state of our politics, there’s no guarantee that they will. There is a widespread misunderstanding of how Social Security works. While Social Security was designed to look like a pension fund, it isn’t. A pension fund pays benefits out of a stock of assets it has accumulated over time. In contrast, Social Security operates as a government transfer program, like food stamps or Medicaid. Now, unlike food stamps — but like the highway trust fund — Social Security is on paper supported by a dedicated tax, the payroll tax, that is assigned to that program. But I say “on paper” because from an economic point of view assigning the payroll tax to Social Security is just an accounting convention. What matters for the U.S. economy is the overall balance between government spending and government revenue, not the difference between one type of spending and one source of revenue. So there’s no inherent economic significance to the fact that by 2034 payroll tax receipts will be insufficient to cover promised benefits. There is, however, a legislative issue. As long as the Social Security Administration can pay benefits out of payroll taxes and its cash reserve, there’s no need for Congress to vote each year to authorize benefits — they just keep going out until further notice. However, once those resources become insufficient, benefits will fall —by 17 percent according to the Trustees — unless Congress passes new legislation that “tops up” Social Security’s finances. Yet the current administration and Republican party are such extremists that there is a real risk that Social Security will be held hostage on behalf of their goals. If this should come to pass, the hostage-takers will claim that shoring up Social Security is unaffordable. Right on cue, Mike Johnson, the Trump-sycophant Speaker of the House, declared on Monday that “entitlement programs” like Social Security “have to be adjusted and fixed,” and that Republicans will introduce a plan to that effect next year. But this is a ploy, because while the cost of maintaining Social Security benefits at their promised level isn’t trivial, it is in fact affordable. According to the Trustees’ report, the actuarial balance of OASDI up through 2050 — the amount of additional funds it would need to keep paying full benefits for the next 25 years — is 1.06 percent of GDP. To put that number in perspective, the Trump administration proposes increasing military spending next year by $420 billion, equivalent to about 1.4 percent of GDP – without any discussion of whether that’s affordable Yet how did we get to the point where Social Security will need to be topped up? The main answer is that we have an aging population, with a growing ratio of retirees collecting benefits to workers paying into the system: Trump’s anti-immigration policies are making this problem worse. According to the Trustees’ report, lower immigration will deepen Social Security’s financial hole because many immigrants are working-age adults who will pay into the system for decades before they collect benefits. In fact, this problem may be much bigger than the report acknowledges: The report’s baseline assumption is that we’ll have net immigration of almost 1.2 million people a year, and even the pessimistic case assumes 750,000 a year. Meanwhile actual net immigration has already been cut far below that — and may now be negative. Moreover, Social Security is being financially damaged by growing income inequality in America. Payroll taxes are levied only on wages up to $184,500, and they don’t touch capital income. With the distribution of income increasingly shifting from labor to capital, as well as becoming more unequal among wage-earners, revenue from the Social Security payroll tax has been falling as a share of national income. From 1990 to 2024, it fell from 5.02 percent of gross domestic income to 4.46 percent. Which brings me to the question that, these days, we ask about everything: How might Social Security be affected by the advent of AI? A short answer: If, as many of us fear, AI accelerates rising income inequality, it will further reduce the payroll tax receipts that currently pay for Social Security and further endanger its finances. On the other hand, if AI, as its advocates promise, leads to faster economic growth, it will increase the potential tax base that could and should be used to support Social Security and other social insurance programs. But to take advantage of that larger base, we’ll have to get serious about taxing wealth and capital income. Is Social Security in trouble? Yes, but only because of the way its financing is currently structured — a structure that no longer works well because our society and economy have become so unequal. Moreover, Trump’s immigration policies are further endangering its already deteriorating financial condition. So don’t believe Republicans’ gaslighting that it will be necessary to cut Social Security benefits. All that is necessary to preserve Social Security is political will to raise taxes on the wealthy and a sensible immigration policy. MUSICAL CODA Actually 67 under current law.
Feds will abruptly dismantle system monitoring climate change, oceans
Critics say the move to retire the $360 million system doesn't make sense. The National Science Foundation cites new scientific priorities.
‘She slept in the hallway on a lawn chair’: how Bettina’s astonishing art outgrew her Chelsea Hotel room
The reclusive figure spent decades filling every surface of her apartment at the legendary New York hotel with artworks that rose in teetering piles. Some are now on display for the first time in Glasgow
What Lyndon B. Johnson’s Toothbrushes Show Us About Public Health Today
The most effective public health tools are often small, writes Jean Paul Laurent.
Auto & Transport Roundup: Market Talk
Find insight on Chinese airline stocks, Volvo, Seres Group and more in the latest Market Talks covering Auto and Transport.
Dear Abby: Politics form wedge between mother and daughter
I don't care what her political beliefs are.
Alfie Oakes plans a new entertainment venue in Bonita Springs
Alfie Oakes wants to build an entertainment venue in Bonita Springs, but neighbors have raised noise, traffic and other concerns, and are fighting it.
Leon County ends minority- and women-owned business program
Leon County commissioners voted to end a program for minority and women-owned businesses due to a new state law.
An ancient whale graveyard in the Indian Ocean teems with life
Located up to 23,000 feet below the surface of the southeastern Indian Ocean, the site spans the largest area and is so far the deepest and oldest found.
Crimson Desert Hits New Huge Sales Milestone Less Than 3 Months After Launch
Crimson Desert has now sold over 6 million copies worldwide, Pearl Abyss has announced. The impressive milestone was achieved less than three months after the game went on sale.
Hope College Sports Year in Review: Top 5 sports stories of 2025-26
Relive the top five sports stories from Hope College this school year.
Nearly a dozen kids gifted shopping spree at Academy Sports + Outdoors
A key congressional race in California will test progressives' appeal in a Republican district
Randy Villegas, a populist insurgent, has won the Democratic primary for a House seat representing California’s Central Valley.
Medicare Advantage plans denied prior authorization requests at unusually high rates, HHS report finds
UnitedHealthcare, CVS Health and Humana had the highest denial rates for long-term care requests, according to a report from the agency’s inspector general.
Fraud detection critical to online health research, study finds
While online research is a useful way to reach people who may not take part in in-person studies, researchers are increasingly concerned that fake, automated, and duplicate survey responses can reduce data quality and compromise findings.
Trump says ‘I love the inflation’ as annual rate hits 3-year high
The president suggested the recent numbers mean there will be a bigger decline in inflation once the war in Iran is over.
Yet more layoffs reported at Ubisoft, this time in San Francisco
On the same day as Ubisoft announced it was closing its studios in Winnipeg and Belgrade and proposing further changes …
The limits of self-funding: From the Politics Desk
Plus, Iran war whiplash.
Billy Ray Cyrus recalls sepsis health scare − 'My worst nightmare'
Billy Ray Cyrus opened up about overcoming his recent struggles, including a near-fatal bout of sepsis, in a new interview with People magazine.
Why the World Cup Could Cost U.S. Employers $30 Billion This Summer
For the first time in 32 years, the tournament will return to the U.S. However, that's not necessarily good news for American business leaders.
The UN’s AI Panel Could Shape Global Governance. Can It Balance Science and Politics?
The United Nations’ new Scientific Panel on AI could give governments a shared evidentiary basis for policymaking—but only if it can balance independence, expertise, and political legitimacy.
The UN’s AI Panel Could Shape Global Governance. Can It Balance Science and Politics?
The United Nations’ new Scientific Panel on AI could give governments a shared evidentiary basis for policymaking—but only if it can balance independence, expertise, and political legitimacy.
Farage suddenly returns to political stage – but dodges questions about £5m gift
Reform UK leader has been unusually quiet in recent weeks – at great cost to the party during a crucial byelection
From The Sports Desk: Carolina claims Game 4 in back-and-forth Stanley Cup Final
Jordan Staal scored the go-ahead goal, as the Hurricanes beat the Vegas Golden Knights 5-3 and even the series 2-2. Plus, today’s World Cup spotlight is Uruguay’s Federico Valverde.
Hawaii law challenges Citizens United. Why it faces a lawsuit
A free speech group is suing Hawaii over a new law that restricts corporate spending in political campaigns.
Athletes, coaches paint dire picture for NCAA future in Protect College Sports Act talk
Current student-athletes and head coaches offered candid warnings on Capitol Hill to Sens. Maria Cantwell, Ted Cruz if Protect Sports Act does not pass
US measles cases pass 2,000 as outbreak nears worst in decades
Outbreak driven by falling vaccination and misinformation as federal public health cuts hamper state response
Ubisoft closing studios in Winnipeg and Belgrade and cutting publishing roles worldwide, 380 jobs at risk
Latest round of cuts includes refocusing Barcelona studio on Rainbow Six, with an unknown number of roles affected
More than a Perk: 401(k)s are a Benefit Small Business Leaders Can’t Afford to Ignore
Two leaders discuss how automation, transparency, and smarter pricing for 401(k) plans are changing the game for employers looking for a competitive advantage.
Peekskill restaurant known for pizza and live entertainment to close
The owner of this longtime Peekskill restaurant cited economic challenges as reason for the closure.
MSG Sports criticizes NYPD and Mamdani over Knicks Game 4 security
James Dolan’s company slams mayor and police commissioner as ‘party poopers’ over large restricted zone
The Biggest Problem Facing Small Businesses Right Now Just Hit a 53-Year High
Due to high supply costs and global energy concerns, small business owners aren't expressing optimism about the state of the economy.
Inflation and volatility have business owners feeling more pessimistic
In May, more small businesses said they planned to raise prices in the next three months, the NFIB says.
Former adult entertainment spot in Worcester could become daycare center
Club Tiger Child Care in line to open after $2.7 million real estate deal.
Michael Meadowcroft obituary
Liberal politician, local councillor and Leeds West MP who turned to journalism, writing for the Times and the Guardian
Nancy Mace's unpredictable career is up in the air after finishing last in South Carolina primary
Rep. Nancy Mace has finished a distant fifth in South Carolina's Republican primary for governor, leaving her political future uncertain.
General Motors follows Ford's lead into the battery business
Yahoo Finance Senior Autos Reporter Pras Subramanian joins Julie Hyman on Market Catalysts to discuss General Motors' (GM) partnership with Peak Energy, placing a big bet on sodium-ion batteries. This comes one month after Ford (F) launched Ford Energy to develop energy storage batteries.
When is rare good news on climate science actually bad? When News Corp misrepresents it
The worst-case scenario for a high-emissions scenario has been revised downward – but the best-case option is now implausible
There are no guardrails now on the right of UK politics: where Restore Britain goes, others will follow
In the UK – and across the west - incendiary language and white supremacist policies are entering the political mainstream, says Guardian columnist Owen Jones
Gears of War: E-Day – Everything We Learned Behind Closed Doors at Xbox
IGN interviews The Coalition to find out more on Xbox console exclusive Gears of War: E-Day.
Lord help me, Fable's behind-closed-doors demo has got me very excited
It may be early days, but Fable is already looking like a real success
Despite its trailer, Capcom says its Resident Evil - Code: Veronica remake is third-person and taking its cue from Resident Evil 2
Resident Evil Veronica's announcement trailer suggested there might be a significant shake-up in the remake, but that's seemingly not the case.
I went into Halo: Campaign Evolved thinking it didn't need to exist, but after playing two levels I want full remakes of the original trilogy and Reach
Alright, fine. Halo: Campaign Evolved is good, actually, and all my doubts about the remake of the remake have been quashed. For now.
Gemini Is Down? Live Updates on Google Workspace's AI Errors
It's not just you. Many Google users are encountering "Something went wrong" issues on Wednesday.
73 Percent of Small Business Owners Now Identify as 'Creators'—and It's Changing How They Operate
A new study from Constant Contact surveyed more than 5,000 small business owners. A key trend that emerged? Content creation.
MS Democrat lawmakers promote contraception and maternal health care
Rep. Zakiya Summers and Sen Kamesha Mumford joined advocates to discuss contraception near the anniversary of a landmark Supreme Court case.
Physical Steam gift cards are being ended by Valve because scammers keep using them to trick people
Valve is making a major change to Steam gift cards by completely getting rid of the physical option.
Reform deputy says ‘not aware’ of more financial gifts but unable to check all members
Richard Tice grilled at first party press conference since £5m gift to Nigel Farage from crypto billionaire revealed
Everyone wants a piece of Tesla's battery business
Electricity demand from AI data centers is pushing everyone — including automakers like GM and Ford — into the energy storage business.
How cuts to CDC are dismantling its capacity to protect Americans’ health
In a survey of more than 600 CDC workers, 99% said the Trump administration’s cuts to the agency have made it less able protect the public’s health.
National Science Foundation cuts mean researchers like me are losing grants – but impacts extend far beyond academia
As the National Science Foundation starts giving out fewer grants, people worldwide will potentially lose out from potential research findings that could help improve their lives.
Business Restructuring Review Vol. 25 No. 3 May-June 2026
In This Issue Texas Bankruptcy Court Adopts Barnet Rule Requiring Foreign Debtor to Have U.S. Assets to Be Eligible for Chapter 15 Relief In In re Siu-Fung Ceramics Holdings Limited, No. 24-33299, 2026 WL 382424 (Bankr. S.D. Tex. Feb. 10, 2026), the court denied petitions for chapter 15 recognition of Hong Kong bankruptcy and liquidation proceedings commenced on behalf of an individual debtor and a group of companies that he owned or controlled. According to the court: (i) the corporate debtors' Hong Kong liquidation proceeding was not eligible for chapter 15 recognition because the attorney retainer upon which such relief was based was not funded until nine months after the chapter 15 petition date; and (ii) the individual debtor's Hong Kong bankruptcy case could not be recognized because the debtor's "center of main interests" on the chapter 15 petition date was not in Hong Kong, and he did not even maintain an "establishment" there. [read more …] Southern District of Texas Clarifies Post-Purdue Course for Consensual Third-Party Releases and Gatekeeping Provisions In In re Container Store Group, Inc., 676 B.R. 356 (S.D. Tex. 2026), appeal filed, No. 26-20166 (5th Cir. Apr. 14, 2026), cross appeal filed, No. 26-20166 (5th Cir. Apr. 24, 2026), the U.S. District Court for the Southern District of Texas addressed consensual third-party releases and gatekeeping provisions in the aftermath of the U.S. Supreme Court's ruling in Harrington v. Purdue Pharma L.P., 603 U.S. 204 (2024). Consistent with existing Fifth Circuit precedent, the court confirmed that, in appropriate circumstances, consent for third-party releases may be obtained through a creditor's failure to opt out of granting that consent. But, the court ruled, consent through an opt-out mechanism essentially can never be inferred for creditor classes that stand to receive no recovery under a chapter 11 plan and that are deemed to reject the plan by operation of applicable bankruptcy law. Instead, those classes must affirmatively opt in to any release. The court also narrowed and remanded the bankruptcy court's acceptance of a broad gatekeeping provision, ruling that such provisions must correspond to the restrictions established by Fifth Circuit precedent. [read more …] Delaware Bankruptcy Court: Initial Transferee Need Not Be Defendant in Fraudulent Transfer Avoidance and Recovery Litigation The Bankruptcy Code gives a bankruptcy trustee the power to avoid asset transfers that are either made with the intent to defraud creditors or that are "constructively" fraudulent because an insolvent debtor did not receive adequate value in exchange. The Bankruptcy Code also permits recovery of an avoided transfer from not only the initial recipient, but also from subsequent transferees. Courts disagree over whether a transfer must actually be avoided before the trustee can seek recovery from a subsequent transferee and whether the initial transferee must also be a defendant in the recovery litigation against a subsequent transferee. The U.S. Bankruptcy Court for the District of Delaware weighed in on this debate in Phillips v. SS Associates LLC (In re ONH AFC CS Investors, LLC), No. 23-10931 (CTG), 2026 WL 312892 (Bankr. D. Del. Feb. 4, 2026). The court adopted the majority view, ruling that the initial transferee need not be a defendant in avoidance and recovery litigation against a subsequent transferee, but that the trustee must establish the elements necessary to avoid the initial transfer as part of the recovery litigation. [read more …] New York Bankruptcy Court Weighs In on Adequate Assurance of Future Performance under Assigned Leases and Chapter 11 Plan Exculpation Provisions In order to assume and assign an executory contract or unexpired lease, a bankruptcy trustee must cure most defaults under the agreement and provide "adequate assurance" of the assignee's future performance. However, the Bankruptcy Code provides no guidance as to the meaning of "adequate assurance" other than with respect to shopping center leases. In In re Broadway Realty I Co. LLC, No. 25-11050, 2026 WL 147505 (Bankr. S.D.N.Y. Jan. 19, 2026), the U.S. Bankruptcy Court for the Southern District of New York examined this issue in connection with a proposed assignment of thousands of residential leases as part of a free-and-clear sale of debtors' properties. The court held that "adequate assurance" does not mean a guarantee of the assignee's future performance, but merely demonstration that the assignee has the ability to satisfy the underlying obligations. The bankruptcy court also ruled that an exculpation provision in the debtors' chapter 11 plan exonerating non-estate fiduciaries from liability for actions taken in connection with the chapter 11 case was unobjectionable, provided it was limited in scope to postpetition conduct and actions taken in connection with implementation of the plan after its effective date. [read more …] Newsworthy Corinne Ball (New York) (Hall of Fame), Bruce Bennett (Los Angeles), Carl E. Black (Cleveland), Jeffrey B. Ellman (Atlanta), Brad B. Erens (Chicago), Gregory M. Gordon (Dallas), Heather Lennox (Cleveland/New York), Joshua M. Mester (Los Angeles), and Kevyn D. Orr (Washington) were included in the 2026 edition of Lawdragon 500 Leading Bankruptcy and Restructuring Lawyers. The Daily Business Review selected Isel M. Perez (Miami) as an "On the Rise" winner for the Florida Legal Awards. The Florida Legal Awards annually recognize those who have made significant contributions to the legal industry in Florida. Dan T. Moss (Washington/New York) was inducted as a Fellow in the 37th Class of the American College of Bankruptcy at its Annual Meeting in March 2026 in San Antonio, Texas. Christine Borries (Munich) was ranked in the practice area Restructuring/Insolvency in the 2026 edition of Chambers Germany. The 2027 edition of The Best Lawyers in Singapore™ recognized Sushma Jobanputra (Singapore) in the practice area Insolvency & Reorganization. The restructuring transaction involving Eissmann Automotive North America, Inc. received the "2025 Turnaround of the Year (Large Company)" at the Turnaround Management Association (Detroit) Annual Awards Reception. T. Daniel Reynolds (Cleveland) and Nick Buchta (Cleveland) represented subsidiaries of Eissmann Group Automotive in connection with the parent company's German insolvency proceedings. Roger Dobson (Sydney) is among 40 Jones Day lawyers recognized by The Best Lawyers in Australia 2027 for his contributions in Banking and Finance Law; Distressed Investing & Debt Trading; Insolvency and Reorganization Law; Litigation. An article written by Corinne Ball (New York) titled "Ard Finance—A Global Enterprise Combining an LME With a Foreign Insolvency Proceeding and Chapter 15" was published in the April 21, 2026, edition of the New York Law Journal. An article written by Alex Sapp (New York) titled "Recent Developments in Section 510—Subordination" was published in the 2025 edition of the Norton Annual Survey on Bankruptcy Law. An article written by Brad B. Erens (Chicago) titled "New York Bankruptcy Court Approves Insider DIP Litigation Financing" was published on April 6, 2026, by Lexis Practical Guidance. An article written by Corinne Ball (New York), Dan T. Moss (Washington/New York), David S. Torborg (Washington), and Isel M. Perez (Miami) titled "New York District Court Affirms Narrow Scope of 'Public Policy Exception' in Chapter 15 Cases" was published on April 6, 2026, by Lexis Practical Guidance. An article written by Jeffrey B. Ellman (Atlanta) titled "Statutory Cap on Lease Rejection Damage Claims in Bankruptcy Applies to Solvent Debtors" was published on April 6, 2026, by Lexis Practical Guidance. An article written by Trisha L. Mowbray (Real Estate; Chicago) and Ryan Sims (Washington) titled "Chapter 11 Plan that Abridged Non-Debtor Lessee's Rights to Remain in Possession After Rejection Unconfirmable as Having Been Proposed in Bad Faith" was published on April 6, 2026, by Lexis Practical Guidance. Lawyer Spotlight: Ben Rosenblum Ben Rosenblum, a partner in the New York Office, represents debtors, creditors, and other parties in out-of-court restructurings and court-supervised proceedings, including chapter 11 cases, municipal bankruptcies, international insolvency matters, and stockbroker liquidations. His experience spans industries such as manufacturing, shipping, mining, aviation, energy, real estate, and telecommunications. Ben's notable debtor representations include Peabody Energy, the City of Detroit, Chrysler LLC, Spansion Japan, and Dana Corporation. Significant creditor representations include General Maritime Corporation, Calpine Corporation, American Home Mortgage, and Murray Energy. He currently represents creditors in Puerto Rico's restructuring. He also has extensive experience advising financial institutions on bankruptcy law as applied to derivatives.
Apple Struck the Right Notes With Its New AI Tools. Here's 4 Features I'm Excited to Try
Siri AI is the headline feature of WWDC 26, but there are more new capabilities I need to check out.
The LGBTQ+ Advocate and Entertainment Queen Cynthia Erivo
Cynthia Erivo fame has come with a range of charitable issues that she is passionate about. From uplifting LGBT communities to inspiring the next…
Fire Emblem: Fortune's Weave's world map is partially inspired by medieval Spain, even if the Dagdan Empire setting looks much older
The next Fire Emblem is mixing Greek and Roman influences with names borrowed from medieval Spain, but the map is completely different.
Xbox Boss Says a Mass Audience Can't Afford 'Thousands of Dollars' to Spend on a Next-Gen Console, So Microsoft Must 'Look at New Business Models'
The spiralling cost of new and existing consoles will require "radically different business models" over the coming generation, Xbox boss Asha Sharma has said.
Xbox CEO Asha Sharma teases "radically different business models", hints at potentially cheaper console to arrive this year
Xbox's newly-appointed CEO has hinted at what could be a major shakeup to the console model business that could help it navigate the RAM apocalypse
New OMB rule could break science in the United States
The drug that saved your mother. The treatment your doctor recommended. The clinical trial that bought someone you love more time. None of it was inevitable. It required a system built to operate outside politics and sustained over decades, because science doesn’t operate on the timeline of a politician. That system is now under direct threat. The Office of Management and Budget (OMB) has proposed a new rule to regulate all federal grants, not just science, but housing, education, defense, NASA and everything in between, that would fundamentally change how research is conducted in the United States. There have been a lot of fires in the past 16 months, and if everything is an emergency, nothing is an emergency. But this is a very big deal. These rules would strip away the independence that has kept science from becoming a political tool. The good news is there’s still something we can all do. How the grant system was designed to work When I was a new faculty member, I was full of millions of ideas, so I sat down and wrote an NIH proposal. I worked on it for months and thought it was so good. Then I sent it to my mentor. It came back covered in comments. Places where my reasoning wasn’t as airtight as I’d thought, methods that could be stronger, gaps in my thinking that I had been too close to the work to see. It stung, as honest feedback always does, but peer review almost always makes the work better. In fact, it’s the backbone of how American science has functioned for generations. At NIH, submitted proposals go to a panel of scientists who have experience in the field. These are the people who can read research methods and spot their weaknesses, who understand when an experiment is designed well and when it isn’t. Applications are scored rigorously, and often only the top 3-20% of proposals receive funding. The people making funding decisions are required to justify them based on these reviews. To be clear: this is not a perfect system, and good science still goes unfunded more often than any of us would like due to limited resources. There is also criticism that peer review may undervalue bold ideas that are risky but could have high payoffs. But the peer review system is nonetheless a meaningful part of the grant selection process. While thoughtful and careful changes could improve the system, the changes being proposed by OMB will not make things better. The rule that could change everything Through this OMB proposal, the system that helps decide what gets funded is being dismantled. There are many troubling elements buried in this proposal, but three provisions stand out in particular. Each would be damaging alone. Together, they would change what kind of science gets done in America, and who it serves. 1. Political appointees would decide which science gets funded, and peer review would be explicitly sidelined or ignored. The guidelines your doctor follows, the standards that determine what’s in your air and water, the drugs that get approved for your family: all of it starts with a funding decision. Right now, that decision is made by scientists who can evaluate whether the work is actually sound and whether it could move the needle forward. Under this proposal, funding decisions could be made by political appointees. The careful, expertise-driven review process that shapes grant funding would be effectively sidelined. That means that a poorly designed study could get funded simply because someone in a political office liked the sound of it, while rigorous, important work doesn’t get funded because it no longer aligns with the administration’s priorities. In other words, critical work that benefits all of us could now be missed just because it has become politically inconvenient. 2. Grants could be canceled at any point, without warning, in the middle of ongoing work. Say your tax dollars have been paying for a cancer study for two years. The grant was awarded for five years, so the team is mid-experiment. There are three additional years’ worth of answers that could change how the disease is treated for hundreds of thousands of people. With this new rule, the federal government could cancel the remaining funding tomorrow, walk away from the commitment it made with your money, and have no legal obligation to finish what it started. This is a huge waste of money. There are rarely other sources of funding for this work, which means the team, the graduate students, postdocs, and research staff who have dedicated years of their careers to this project could lose their jobs. Patients who have contributed their time to studies may not see it turn into useful learnings for others. Every hour of work already completed could result in nothing useful. Science can take decades to get to tangible outcomes. It needs a stable funding system to flourish. 3. Researchers would have a harder time communicating their findings without pre-approval from the federal government. There is a saying from Sir Mark Walport: “Science isn’t finished until it’s communicated.” Science is no use to anyone if it is kept locked away in the labs that produced the data. The proposed rule could make communicating research findings harder in a number of ways: Make it harder for scientists to widely share their findings in scientific journals. Publication costs, including journal fees that allow for broad public access, could not be paid for by federal funds which is often how scientists pay these costs. Restrict researchers from engaging publicly about how their findings should inform policy or public health guidelines. This would restrict scientists from doing the work that transforms years of lab work into decisions that actually affect people’s lives. Make it harder for scientists to attend conferences. Conferences would now need to be approved by the federal agency at the time of grant award. This disadvantages conferences or publications that are not politically aligned. Conferences are a key way in which scientists learn about work happening in their field so they can collaborate and build on each other’s findings. What good is science with a muzzle? The long-term impact These changes could (and hopefully would) be reversed under the next administration. But by then, damage has been done. Once projects are halted or denied funding by political appointees, people leave their science careers for other paths or even leave the country to do their amazing science elsewhere. You cannot pause a scientific study the way you pause a subscription you decided isn’t useful anymore. You cannot freeze a research team that depends on salaries to feed their families, causing a scramble for replacement funding that, in most cases, simply does not exist. When the money stops, everything stops, and all the work in progress and its potential are lost. Despite all of the language about reducing waste, fraud, and abuse, this new proposed rule increases the administrative burden tremendously. Every researcher watching this unfold will make a rational decision: don’t start anything that will take a decade to finish. This includes not building a team around funding that could vanish, or asking the big questions that need patience and stability to answer. The most consequential science, the kind that produces the treatments and the breakthroughs that reach your doctor’s office twenty years from now, is exactly the science that would be abandoned first. This is still a proposal, so we can all do something Some worry this rule is already a done deal. But by law, OMB is required to open a public comment period. Those comments matter because they inform members of Congress, they can be used in litigation, and they create a public record. So here’s what you can do: Submit a public comment. The public comment period on this proposed change is open until July 13. Anyone can submit a comment, and OMB is required to respond to substantial ones. Each comment must be different to count as distinct; identical comments will be counted only once. Comment as an individual, not on behalf of your organization. Here’s a full resource to help you, with useful examples, but in general: Share a story about how science or federal funding has benefitted you or is involved in your work. Are you or someone you loved a cancer survivor? Do you know someone with Alzheimer’s? Have you received NIH/NSF or other federal funding? All of these can be stories you use to highlight why you care. Explain why you’re worried about these proposed changes. You can use the wording found here or in other resources to help you. Ask them to withdraw this proposed rule. Contact your elected representatives. Congress allocates money to federal agencies to spend, and it has oversight of how that process works. You can let your representatives know this proposed change concerns you and ask them to intervene. There are levers they can push that can help at this moment. Let others know why federal funding matters. This isn’t just about science, but ALL federal grants, including for education systems, defense projects, and more. The process, including the importance of federal funding, is invisible to many. We can all make it more visible by sharing how science benefits us and why we value it. You can also share this article, or any of the resources linked here, to help spread awareness! Bottom line We are quickly losing ground in scientific research in the U.S. More changes, like the proposed rule by OMB, would decimate our ability to conduct research here, leaving us all worse off: fewer treatments for pancreatic cancer, less research on pollution impacts, fewer answers for patients with rare disease, and more unaddressed health needs. The impact will be very real for all of us, regardless of where we stand politically. Using our voices for science is more important than ever. Love, LM Big thanks to Dr. Megan Ranney for reading this over and providing brilliant insights, as always. Dr. Liz Marnik, PhD, is Executive Director of The Evidence Collective at YLE and a science communicator and immunologist working at the intersection of public trust, science, and public health. You can find her on Substack, LinkedIn, Instagram and Threads. Your Local Epidemiologist (YLE) comprises a team of experts, ranging from physicians to immunologists to epidemiologists to nutritionists, working together with one goal: to “Translate” ever-evolving public health science so that people are well-equipped to make evidence-based decisions. The YLE suite of newsletters reaches over 475,000 people across more than 132 countries. This newsletter is free to everyone, thanks to the generous support of fellow YLE community members. To support the effort, subscribe or upgrade below: Subscribe
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