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Category: Economics/Business

Ultra-rich buying $49 million London mansions. ‘Trump unease’ generates 10% rise in Americans investing in Britain

Ultra-rich buying $49 million London mansions. ‘Trump unease’ generates 10% rise in Americans investing in Britain

Fortune reports: Wealthy Americans are swapping U.S. ZIP codes for foreign postcodes, chasing stability as the U.S. grapples with a soaring cost-of-living, political polarization, and economic uncertainty. And now, they’re snapping up prime real estate in one of the world’s most expensive housing markets: London. The British capital has witnessed a staggering jump in the number of sales valued above £15 million ($20 million)—and it’s largely being driven by Americans with deep pockets, according to luxury real estate company Beauchamp…

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Millions of farmers around the globe are contending with scarcity and higher prices for fuel

Millions of farmers around the globe are contending with scarcity and higher prices for fuel

The New York Times reports: For three days, he waited at the gas station in a crush of hundreds of villagers, as the temperature rose to 104 degrees. People tried to cut the line, and fights broke out, drawing police officers wielding batons. This, Dulal Hossain endured for the chance to buy diesel fuel. He was tormented by worries about his rice plants, the source of most of his livelihood. The diesel he eventually carried home by bicycle, in a…

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How the Iran war is highlighting data center vulnerabilities

How the Iran war is highlighting data center vulnerabilities

  DW News: A new chapter of warfare is opening. The US-Israel war against Iran has included strikes from both sides against an increasingly important target: commercial data centers. Facilities in the UAE, Bahrain and Iran were hit across the Persian Gulf As military operations increasingly rely on AI, how long will it take adversaries to target them? What kind of attack, including in the US, is likely? They’re already central to many people’s everyday digital lives and their online…

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An era of ‘abundance’ will never be delivered by billionaires. Their true belief is in scarcity

An era of ‘abundance’ will never be delivered by billionaires. Their true belief is in scarcity

Gizmodo reports: Elon Musk sat down with the editor-in-chief of the Economist for a taped interview that went live Thursday. The Tesla CEO has been avoiding normal journalists recently, even cancelling a planned interview with CNBC earlier this month. And it now seems pretty obvious why. Musk has a hard time answering normal questions about his often fascist and sometimes incoherent worldview. The interview started cordially enough, with Economist editor Zanny Minton Beddoes asking Musk about his thoughts on the…

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Why Trump is facing his biggest danger from rising oil prices since the war began

Why Trump is facing his biggest danger from rising oil prices since the war began

Politico reports: The expanding conflict in the Middle East is thwarting the Trump administration’s bid to lower gasoline prices ahead of the looming midterm elections. It’s not just the Strait of Hormuz — oil tankers are now facing attacks on three major shipping routes as of this week. Global crude oil inventories are reaching critically low levels, with little hope of refilling them soon. And the temporary measures that have kept markets afloat since the war in Iran began, such…

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EU fines Google $1 billion for stifling competition

EU fines Google $1 billion for stifling competition

Wired reports: The European Commission has levied a $1 billion penalty against Google over alleged competition law violations. An EC investigation found that Google had abused its dominance in the European Union’s search and app store markets to funnel people toward its own apps and services, in violation of the EU’s Digital Markets Act. The body has ordered Google to refrain from giving preferential treatment to its own services—such as shopping, accommodations, transport, and flights—in search rankings. Google must also…

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Data center forecasts keep climbing and so does public opposition. Something has to give

Data center forecasts keep climbing and so does public opposition. Something has to give

Dan Gearino writes: Forecasts of U.S. data center growth defy belief—and common sense. “The math isn’t mathing,” as many observers have said. Growth forecasts continue to climb, but there is little evidence that AI data center developers have profitable, sustainable business models. And nearly every major project is facing local opposition over concerns about land, power and water use. On Tuesday, BloombergNEF revised its estimate for data center electricity demand to 194 gigawatts by 2035, an 83 percent increase from…

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In the wake of the oil supply shock came a demand shock

In the wake of the oil supply shock came a demand shock

David Goldman writes: A decline in Chinese demand for the world’s oil has weighed significantly on global oil prices. That’s a big reason why crude never approached its 2022 prices or the record set in 2008, despite an oil shock several orders of magnitude larger than either of those preceding crises. China relies almost entirely on imports for oil. But its crude imports have fallen dramatically during the course of the war, tumbling below 8 million barrels per day from…

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Taylor Farms spent big on MAGA and anti-regulatory lobbying before diarrhea outbreak

Taylor Farms spent big on MAGA and anti-regulatory lobbying before diarrhea outbreak

Wired reports: The lettuce supplier at the center of the turbo diarrhea outbreak has spent millions of dollars to sway sentiment around food regulation and elect Donald Trump and other MAGA Republicans, according to public filings. Taylor Farms donated more than $2 million to conservative political groups in 2025, according to Federal Election Commission filings. That includes a $1 million donation to MAGA Inc., the Trump-centric super PAC, and $1.1 million to other super PACs dedicated to electing Republicans. From…

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In the data-center age, the business of Silicon Valley is more like oil-refining than coding

In the data-center age, the business of Silicon Valley is more like oil-refining than coding

Matteo Wong writes: The AI boom has showered some of the nation’s most prominent companies in market value. OpenAI and Anthropic are now the two most valuable private companies in the world. Google, Microsoft, and Nvidia have become larger than ever. But among the biggest winners has been Caterpillar, a purveyor of yellow trucks and cranes. Caterpillar’s stock has more than doubled in value over the past year, making the company worth six times as much as Nike. Its ascent…

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Democrats see an opening in rural states for the first time in decades. In Iowa, it’s about water

Democrats see an opening in rural states for the first time in decades. In Iowa, it’s about water

Tom Philpott and Nina B. Elkadi write: Chris Jones, the 65-year-old Democratic nominee for Iowa secretary of agriculture, stands at the edge of a pond on a 72-acre farm in eastern Iowa. “What you see here is how fertile Iowa is,” he says, looking intently into the water. Massive bluegills dart about in the clear depths. “When we go up to a corn or soy field, we don’t see this anymore.” Jones isn’t just talking about the fish. He means…

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‘Climate free fall’: Why the biggest risk to our economies is yet to be recognized

‘Climate free fall’: Why the biggest risk to our economies is yet to be recognized

Anders Levermann writes: I have studied climate tipping points for more than 20 years, and I’m increasingly concerned that scientists have overlooked the most dangerous aspect of these for societies. The potential collapse of major parts of the Earth system — from ice sheets to ocean circulations — will profoundly alter the warming planet and tip it irreversibly into a different state. But the greatest risks might not lie at that endpoint. How we get there — how the tipping…

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Trump blatantly tries to manipulate markets by selling fast access Truth Social to Wall Street firms

Trump blatantly tries to manipulate markets by selling fast access Truth Social to Wall Street firms

The New Republic reports: The thin veil that has historically clouded government corruption is in the trash—under the current Trump administration, blatant ethical misconduct is in. Truth Social executives announced Thursday that the company would sell Wall Street firms premier access to Donald Trump’s market-rattling online posts, granting traders an advantage over the general public with regard to anticipating stock market fluctuations due to the president’s social media habits. The product, marketed as “Truth API,” apparently aims to make fast…

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A forever war in the making

A forever war in the making

Ali Vaez writes: The memorandum of understanding between the United States and Iran halted their war and provided a framework for talks over Iran’s nuclear program. Less than a month after it was signed, it has failed, and a document intended to halt a war has instead become a reason for resuming it. The immediate dispute concerns who controls the Strait of Hormuz, but more is at stake. The collapse of even this minimal understanding could remove the last barrier…

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Generative AI is a shockingly inefficient trillion-dollar project

Generative AI is a shockingly inefficient trillion-dollar project

Alex Reisner writes: As they scramble to keep their systems online, AI companies are making things expensive for the rest of us. Large language models such as ChatGPT and Claude are so resource-hungry that tech companies may be purchasing 70 percent of the world’s supply of high-end computer memory, causing a shortage. As a result, the prices of computer memory and storage are skyrocketing: Hard drives that I bought for my reporting two years ago for $350 each were $800…

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Landmaxxing: The latest need for misanthropic billionaires who can’t get enough

Landmaxxing: The latest need for misanthropic billionaires who can’t get enough

The Real Deal reports: Buying mansions here and there is not enough for the uber-rich. “Landmaxxing,” or buying up adjacent properties to assemble sprawling private compounds, has been a major part of the ultra-luxury market this year, the Wall Street Journal reported. Compounds are increasingly in demand, and some of the business world’s biggest names are leading the trend. In South Florida, Citadel billionaire Ken Griffin dropped more than $450 million to piece together a 27-acre Palm Beach compound. Griffin…

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