For this year’s first quarter, cloud service providers Amazon, Google, Microsoft, and Meta collectively reported a record $130.65 billion in capital expenditures, mostly on AI infrastructure, according to their financial disclosures.
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DIVIDED FED COMMITTEE HOLDS INTEREST RATES FIRM
Last week, the U.S. Federal Reserve’s Open Market Committee voted for a third consecutive time to hold the bank’s key interest rates at 3.75 percent for loans and 3.50 percent on deposits.
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U.S. WEALTH INEQUALITY IS WORSENING, STUDY FINDS
In 2025, pay for corporate CEOs grew 20 times faster than wages for workers, according to a report published last week by Oxfam and the International Trade Union Confederation.
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U.S. INFLATION REACHED 3.3 PERCENT IN MARCH WHILE GROWTH SLOWED
In March, U.S. inflation jumped 0.5 percent from February to an annual rate of 3.3 percent, the U.S. commerce department reported. Core inflation – which filters out the costs of energy and food – rose to an annual rate of 2.6 percent, according to the U.S. Bureau of Labor Statistics.
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U.S. DEBT NOW EXCEEDS GDP
As of 31 March, debt owed by the U.S. federal government exceeded the total value of the entire U.S. economy.
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MORTGAGE RATES IN U.S. INCREASE AMID IRAN WAR STALEMATE
The average rate on a 30-year fixed mortgage in the U.S. increased earlier last week after President Donald Trump announced that the U.S. naval blockade outside the Strait of Hormuz will stay in place until there is a suitable agreement with Iran to end the war.
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UK CONSIDERS MAJOR CRACKDOWN ON PRO-PALESTINIAN PROTESTS AFTER ALLEGED ANTISEMITIC ATTACKS
The British government announced last week that it plans to impose a major crackdown on pro-Palestinian protests after a recent alleged antisemitic attack on two Jewish men in London.
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TRUMP TELLS REPORTERS, ‘IRAN HAS NO CHANCE’ AS TEHRAN LAUNCHES NEW ATTACK ON UAE
President Donald Trump told reporters that the White House on Tuesday that Iran does not have a chance in the war against the United States.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
As AI continues to take over human jobs, Open AI CEO Sam Altman, said that although AI isn’t the cause of all layoffs, it has been responsible for displacing human workers, according to CNBC-TV18.
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HOW JUST FIVE DAYS OF ULTRAPROCESSED FOODS CAN DISRUPT YOUR BRAIN + MORE
We’ve all had those weeks — holidays, vacations, a stressful period filled with takeout — where we indulge in calorie-laden, ultraprocessed foods.