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The ongoing market chaos caused by Donald Trump’s tariffs continues to dominate the business newspapers, as do reports about inflation, job risks and a UK-US trade deal that comes at a price. Tech stocks suffered a Wall Street sell-off on Wednesday after Nvidia revealed new US controls on sales to China will wipe billions of dollars from its earnings. The US dollar has continued to weaken for the fifth straight day, amid real fears that the world could start the process of de-dollarisation.
US stock markets experienced substantial losses, particularly in AI chipmakers like Nvidia and AMD, which plummeted after new export restrictions to China were announced.
The US tariff situation may have fallen off the front pages of many newspapers, but the business media remains on top of the latest news from Washington. Despite Trump issuing an exemption for big tech in his tariffs on China, he has since signalled that it’s only a temporary measure and investigations are under way into the semiconductor and pharmaceutical trade – which could lead to their tariff exemptions ending.
The US FTC has initiated an antitrust trial against Meta, alleging that the acquisitions of Instagram and WhatsApp were aimed at eliminating competition to maintain market dominance.
The International Energy Agency forecasts that electricity consumption by global data centres will double within five years, largely driven by the rise of powerful AI models.
Increasing reliance on AI-driven chatbots like ChatGPT for information retrieval offers quicker access to summaries and links but raises concerns about misinformation due to ‘hallucination’ and ‘confabulation’ errors.
Trump broke law by promoting Tesla stock but experts suggest not to expect a crackdown and DOnald Trump is a law onto himself.
The humanoid robot Apollo, developed by Apptronik, has autonomously assembled an engine part in a real-world demonstration, marking a significant advancement in human-like robotics.
Blue Ghost spacecraft, operated by Firefly Aerospace, captured images of a solar eclipse from the lunar surface for the first time in history.
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Apple has halted its AI-powered news alerts feature following widespread criticism and complaints about repeated inaccuracies in summarizing news headlines.
Meta, the parent company of Facebook, Instagram, and WhatsApp, is preparing to reduce its global workforce by approximately 5%, according to an internal memo from CEO Mark Zuckerberg.
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