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UBS's latest report shows a record increase in billionaires worldwide, reaching 2,919 with collective wealth of $15.8 trillion. Women are outpacing men in wealth growth for four consecutive years, and inheritance continues to drive the rise, especially in the US and Europe. The billionaire class is diversifying and expanding rapidly.
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Global markets gained as investors anticipate the Federal Reserve will cut interest rates this month. Asian stocks hit new highs, while Wall Street remains near record levels amid signs of slowing inflation and expectations of monetary easing. Economic data continues to influence investor sentiment today, Thursday, 18 September 2025.
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Japan's Nikkei 225 reached new record highs last week, driven by Prime Minister Ishiba's resignation, global monetary shifts, and AI investment. The US Federal Reserve's expected rate cut and a weaker yen have boosted markets, though risks remain if the yen strengthens unexpectedly.
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US technology companies, including OpenAI, Nvidia, and CoreWeave, plan to announce billions of dollars in UK investments during President Trump's visit. The focus is on expanding AI infrastructure and data centres amid regulatory pressures and government initiatives to support AI growth zones.
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The UK and US have announced a major tech partnership during President Trump’s visit, with $31 billion in US investments into UK AI, quantum computing, and nuclear sectors. The deal aims to foster growth, security, and innovation, with companies like Microsoft, Google, Nvidia, and OpenAI committing billions. The agreement also includes cooperation on nuclear power and AI infrastructure, but UK steel tariffs remain unresolved.
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Tesla's efforts to expand its autonomous vehicle technology face safety concerns, regulatory scrutiny, and unmet promises. Despite ambitious targets and a $1 trillion pay plan for Elon Musk, recent crashes and regulatory challenges highlight ongoing issues in Tesla's self-driving ambitions as of November 2025.
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President Trump and Xi Jinping held multiple calls this week, signaling efforts to stabilize relations. They discussed trade, TikTok, and upcoming in-person meetings at the APEC summit. While progress was reported, key issues like TikTok's ownership and trade tariffs remain unresolved amid ongoing geopolitical tensions.
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As of September 28, 2025, former President Donald Trump confirmed that Rupert and Lachlan Murdoch, alongside Oracle's Larry Ellison and Michael Dell, are part of a U.S. investor group set to acquire TikTok's American operations. The deal aims for majority American ownership and control over TikTok's data and algorithm, with a deadline to finalize details by December 16, 2025.
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Spotify will transition founder Daniel Ek to an executive chairman role in January 2026, with co-presidents Gustav Söderström and Alex Norström becoming co-CEOs. Ek emphasizes growth in emerging markets and AI technology. The move formalizes existing leadership roles and reflects ongoing strategic shifts.
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OpenAI, Oracle, and SoftBank are building multiple new AI data centers across Texas, New Mexico, and Ohio, aiming for a total capacity of 7 gigawatts. The expansion supports ChatGPT's 700 million weekly users and aligns with a $500 billion investment pledge, raising questions about the sustainability and environmental impact of such infrastructure growth.
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The US has announced a $100,000 fee for new H-1B visa applications, impacting skilled foreign workers, especially from India. The move has caused confusion and chaos among employers, workers, and families, with significant political and economic implications.
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On September 25, 2025, Starbucks announced layoffs of approximately 900 staff and the closure of about 1% of its North American stores, including its flagship Seattle roastery. CEO Brian Niccol aims to restore the coffeehouse experience amid six quarters of declining US sales. The cuts mainly affect support and corporate roles, while the company plans to invest in store improvements and technology.
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As of October 2025, OpenAI's valuation surged to $500 billion following a $6.6 billion secondary share sale by current and former employees to investors including SoftBank, Thrive Capital, and MGX. Despite not yet turning a profit, OpenAI has secured massive AI infrastructure deals with Oracle, Nvidia, and AMD, fueling rapid growth and complex partnerships across Silicon Valley's AI ecosystem.
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The US and China are nearing an agreement on TikTok, with US investors set to control around 80% of the app in the US. The deal follows negotiations involving trade, security, and market access, with both sides emphasizing mutual respect and legal compliance. The deal is not yet finalized and awaits Chinese approval.
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President Trump’s administration advances a $14bn deal to transfer TikTok’s US operations from ByteDance to a consortium including Oracle, Larry Ellison, and Rupert Murdoch. The deal aims to meet security concerns, but raises questions about political influence and control over the platform’s future.
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As of mid-October 2025, OpenAI has secured major deals to expand its AI computing infrastructure, including a $100 billion partnership with Nvidia for 10 gigawatts of data center power, a multibillion-dollar agreement with AMD to deploy 6 gigawatts of AI chips starting in 2026 with an option to acquire a 10% stake, and a new pact with Broadcom to co-develop 10 gigawatts of custom AI accelerators by 2029. These deals reflect OpenAI's aggressive push to meet soaring AI compute demand amid concerns over power supply and infrastructure.
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Global electricity demand is set to double by 2050, driven by AI data centers in the US, China, and Europe. US data centers could account for over 14% of power demand by 2030, raising concerns over infrastructure costs and reliance on fossil fuels amid ongoing energy security challenges.
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Taiwan Semiconductor Manufacturing Corp. reported a record NT$452.3 billion ($14.8 billion) net profit in Q3, driven by strong demand for AI chips and data center investments. The company is expanding in the US and Japan, with a $100 billion U.S. investment plan, amid ongoing trade tensions and global chip demand growth.
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China's tech firms SenseTime and Cambricon partner to develop indigenous AI solutions amid national efforts for self-reliance. Meanwhile, the US and Argentina expand AI data centers, challenging China's global leadership in AI infrastructure. The story highlights geopolitical competition and strategic investments shaping the future of AI.
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Austin, Texas, has emerged as the most affordable U.S. city for renters, with rents declining 7% year-over-year and only 16.5% of income spent on rent. This shift follows increased housing supply and policy reforms after pandemic-driven migration, contrasting with other major metros where rent-to-income ratios remain high.
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AI companies in the US, China, and Europe are building large data centers near fossil fuel sites, often generating their own power from natural gas. This trend raises environmental concerns amid ongoing debates over energy security, climate goals, and local impacts. Today's date: Fri, 24 Oct 2025 03:24:43 +0100.
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The US and China are close to finalizing an agreement on TikTok, with Chinese approval expected soon. The deal involves US control over TikTok's US operations, including algorithm retraining, and aims to address national security concerns. The deal is anticipated to be finalized in the coming weeks.
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Meta is purchasing environmental attributes of solar projects in Louisiana, adding to its renewable energy portfolio. Meanwhile, other tech companies are investing in natural gas plants and nuclear reactors in Texas and Iowa to meet rising AI data center power demands. The shift reflects a mix of renewable and fossil fuel investments amid grid constraints.
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Paramount Skydance is reportedly preparing a $71 billion bid for Warner Bros. Discovery, involving sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi. Denials have been issued, but reports of meetings with Middle Eastern officials suggest potential regional backing. The deal could reshape media ownership amid regulatory and political considerations.