United States: Google, Blackstone form $25 billion AI venture

 

United States – Google and Blackstone Inc. have formed a joint artificial intelligence cloud business to expand large-scale computing capacity for generative AI workloads, the companies announced this week. Blackstone will contribute an initial $5 billion in equity and hold a majority stake in the new entity, with leverage lifting...

DOJ Moves To Dismiss Fraud Charges Against Adani

 

Washington — On May 19, the United States Department of Justice moved to permanently dismiss all criminal fraud charges against billionaire Gautam Adani and his nephew Sagar Adani in the Eastern District of New York, after counsel filed for a pre-motion conference and federal prosecutors submitted a court request to...

Jury Dismisses Musk Suit, Clears Path Toward IPO

 

Oakland, California. A federal jury on Monday, May 18, ruled unanimously that Elon Musk's lawsuit against OpenAI was time-barred under the statute of limitations, dismissing his claims after less than two hours of deliberation. Jurors concluded Musk had brought the case too late. The trial was widely viewed as a...

Warsh to be sworn in at White House Friday

 

Washington. Kevin Warsh will be sworn in as Chair of the U.S. Federal Reserve at the White House on Friday, President Donald Trump announced; the Senate confirmed Warsh to a four-year term in mid-May, and Jerome Powell served as acting chair to bridge the transition while an inquiry into Powell...

United States: Meta cuts 8,000 jobs for AI push

 

United States-based Meta Platforms is preparing this week to cut about 8,000 jobs, roughly 10% of its global workforce, as part of a major restructuring to fund a large expansion in artificial intelligence infrastructure. In addition, management will permanently eliminate about 6,000 open positions that had not yet been filled,...

United States bitcoin ATM giant files for bankruptcy

 

Bitcoin Depot Inc. (NASDAQ: BTM), the largest bitcoin ATM operator in the United States, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas, according to court filings reported this week. The Atlanta-based company simultaneously shut down its entire global network of...

Investec files Form 8.5 disclosures for four UK firms

 

United Kingdom. Investec Bank plc disclosed client-serving dealings in shares of four UK-listed companies — NCC Group plc, Treatt Plc, Gamma Communications Plc and Advanced Medical Solutions Group Plc — executed on 15 May 2026. Taiwan News published the Form 8.5 notices on 18 May 2026, listing Investec's connections to...

LiveRamp and Citizens Report Quarterly Financial Results Today

 

San Francisco — LiveRamp Holdings reported fiscal fourth-quarter profit of $70.9 million on Sunday, with GAAP earnings of $1.12 per share and adjusted earnings of $0.52; the company posted quarterly revenue of $206.1 million and reported $146 million in profit for the year with $812.9 million in revenue. Austin, Texas —...

China Commits $17B Annual U.S. Farm Purchases Through 2028

 

WASHINGTON — The White House announced Sunday that China agreed to ramp up purchases of U.S. agricultural products, committing to an annualized $17 billion pace for 2026 and to sustain that level through 2027 and 2028. Officials said Beijing will reopen market access for U.S. beef and resume poultry imports...

South Korea moves to avert Samsung semiconductor strike

 

South Korea said it will deploy all available administrative and legal measures, including rarely used emergency arbitration, to stop a threatened labor strike at Samsung Electronics, the country’s largest employer and the world’s biggest memory chip maker. Prime Minister Kim Min-seok outlined the stance after an emergency meeting with ministers...