Author: potus

WASHINGTON (AP) — A federal judge on Monday blocked the Trump administration from moving forward with its dismantling of the U.S. Institute of Peace, an organization taken over in March by Elon Musk’s Department of Government Efficiency.U.S. District Court Judge Beryl Howell ruled that the think tank, which was created and funded by Congress to focus on resolving violent conflicts around the globe, was taken over illegally by DOGE through “blunt force, backed up by law enforcement officers from three separate local and federal agencies.”The plaintiffs in the lawsuit, filed by the organization’s former board members and president, had maintained…

Sebastian Siemiatkowski, CEO of Klarna, speaking at a fintech event in London on Monday, April 4, 2022.Chris Ratcliffe | Bloomberg via Getty ImagesKlarna saw its losses jump in the first quarter as the popular buy now, pay later firm applies the brakes on a hotly anticipated U.S. initial public offering.The Swedish payments startup said its net loss for the first three months of 2025 totaled $99 million — significantly worse than the $47 million loss it reported a year ago. Klarna said this was due to several one-off costs related to depreciation, share-based payments and restructuring.Revenues at the firm increased…

WASHINGTON (AP) — The Supreme Court on Monday allowed the Trump administration to strip legal protections from 350,000 Venezuelans, potentially exposing them to deportation.The court’s order, with only one noted dissent, puts on hold a ruling from a federal judge in San Francisco that kept in place Temporary Protected Status for the Venezuelans that would have otherwise expired last month. The justices provided no rationale, which is common in emergency appeals. The status allows people already in the United States to live and work legally because their native countries are deemed unsafe for return due to natural disaster or civil…

In this photo illustration, the logo of Xiaomi’s XRing O1 chipset is seen on May 19, 2025 in Beijing, China. Xiaomi CEO Lei Jun announced on the evening of May 15 that the company’s self-developed smartphone SoC, XRING 01, will be officially launched in late May.Vcg | Visual China Group | Getty ImagesChinese technology giant Xiaomi will invest at least 50 billion yuan ($6.9 billion) over the next 10 years to develop its own chips, CEO Lei Jun said in a Weibo post on Monday.It’s the latest move by a Chinese firm to double down on home-grown technology amid the…

Klarna is synonymous with the “buy now, pay later” trend of making a purchase and deferring payment until the end of the month or paying over interest-free monthly installments.Nikolas Kokovlis | Nurphoto | Getty ImagesThe U.K. government on Monday laid out proposals to bring short-term loans under formal rules as it looks to clamp down on the “wild west” of the buy now, pay later sector.Fintech firms like Klarna and Block’s Afterpay have flourished by offering interest-free financing on everything from fashion and gadgets to food deliveries — while at the same time stoking concerns around affordability. The space is…

Jensen Huang, co-founder and chief executive officer of Nvidia Corp., speaks during the Computex conference in Taipei, Taiwan, on Monday, May 19, 2025. Bloomberg | Bloomberg | Getty ImagesNvidia CEO Jensen Huang made a slew of announcements and revealed new products on Monday that are aimed at keeping the company at the center of artificial intelligence development and computing. One of the most notable announcements was its new “NVLink Fusion” program, which will allow customers and partners to use non-Nvidia central processing units and graphics processing units together with Nvidia’s products and its NVLink. Until now, NVLink was closed to chips made…

President Donald Trump is hoping that separate phone calls Monday with Russian leader Vladimir Putin and Ukrainian President Volodymyr Zelenskyy will make progress toward a ceasefire in the war in Ukraine.Trump expressed his hopes for a “productive day” Monday — and a ceasefire — in a social media post over the weekend. His effort will also include calls to NATO leaders. Other news we’re following:Trump’s big bill advances in rare weekend vote: House Republicans narrowly advanced Trump’s big tax cuts package out of a key committee during a rare Sunday night vote, but just barely, as conservative holdouts are demanding…

Cristiano Amon, CEO & President, Qualcomm, on Centre Stage during day one of Web Summit 2024 at the MEO Arena in Lisbon, Portugal. Shauna Clinton | Sportsfile | Getty ImagesQualcomm on Monday said it plans to launch processors designed for data centers to power artificial intelligence, which will link to Nvidia’s chips.Nvidia’s graphics processing units (GPUs) have become a critical component in data centers used to train huge AI models that power applications like chatbots. They are often paired with a central processing unit (CPU) — a market dominated by Intel and AMD.Qualcomm said it is planning to launch a…

The Trump administration’s first 100 days in power signaled a sharp and dramatic reorientation of the U.S. relationship with Africa. Public health forecasting models estimate that that the administration’s grave cuts to the U.S. Agency for International Development (USAID) and the President’s Emergency Plan for AIDS Relief will result in 26 million additional HIV infections, 15 million preventable AIDS deaths, and 14 million more children orphaned by AIDS by 2040, with more than 60 percent of these impacts concentrated in only six African countries. Macroeconomic projections from the University of Denver similarly warn that cuts to U.S. foreign aid programs…

NEW YORK (AP) — U.S. stocks are drifting lower, while U.S. bonds and the value of the U.S. dollar are falling more sharply on Monday following the latest reminder that the U.S government seems to be hurtling toward an unsustainable mountain of debt.The S&P 500 was 0.4% lower in morning trading after Moody’s Ratings became the last of the three major credit-rating agencies to say the U.S. federal government no longer deserves a top-tier “Aaa” rating. The Dow Jones Industrial Average was down 38 points, or 0.1%, as of 10:05 a.m. Eastern time, and the Nasdaq composite was 0.6% lower.…