Author: omc_admin
Hello, and welcome to your weekly dose of Big Tech news and insights. These are the moments I feel so lucky to be a journalist in Silicon Valley. AI is rapidly changing so much important stuff, for better or worse. Even just witnessing this from the sidelines is a joy.I had a fancy newsletter ready to go, all about Google’s big I/O conference. Then, OpenAI bought Jony Ive’s AI gadget startup for $6.5 billion. It’s called io. Lowercase. I’m not joking. That’s the name.AgendaWhat you need to know about this OpenAI-io megadeal and what it means for Apple, Google, and…
French bank Société Générale now sees Gold exceeding $4,000 an ounce in 2025, while Goldman Sachs has gone one step further with its call for Gold to surpass $4,500 an ounce within the next 12 months under extreme market conditions. This Time, Yields Aren’t Hurting Gold – They’re Helping It Historically, rising yields hurt Gold. Not anymore. Today, yields are rising for the wrong reasons — and that’s rocket fuel for Gold. As traders watch yields fall not because of Fed cuts, but because of looming economic damage from Trump’s tariff threats, the safe-haven bid into Gold only intensifies. Trump…
President Trump has a bold and ambitious vision to revitalize the American economy – one built on global competitiveness and U.S. strength. But unless we move quicker to finalize new trade agreements, that vision risks being derailed by the growing burden of extended tariffs. What’s RelatedWholesaler-distributors sit at the center of the supply chain. When costs rise for us, it has a domino effect touching every sector from manufacturing and retail to construction and healthcare. A recent survey conducted by the National Association of Wholesaler-Distributors (NAW) found that despite progress being made on some trade negotiations, tariffs, particularly stacking multiple tariffs on Chinese…
The total number of active drilling rigs for oil and gas in the United States came crashing down this week, according to new data that Baker Hughes published on Friday, following a 6-rig decrease last week.The total rig count in the US fell by 10 to 566 rigs, according to Baker Hughes, down 34 from this same time last year.The number of oil rigs fell by 8 to 465 after falling by 1 during the previous week—and down by 32 compared to this time last year. The number of gas rigs slipped by 2 this week, to 98 for a…
(Bloomberg) – U.S. President Donald Trump criticized the UK’s approach to taxing North Sea oil and gas, saying it discouraged drilling and raised energy prices. Britain should stop using “costly and unsightly windmills” and “incentivize modernized drilling in the North Sea where large amounts of oil lay waiting to be taken,” Trump said in a post on his Truth Social network on Friday. “A century of drilling left, with Aberdeen as the hub. The old-fashioned tax system disincentivizes drilling, rather than the opposite.” It’s not the first time Trump has criticized the energy policy of Prime Minister Keir Starmer. Earlier…
South Africa has officially launched the South African National Petroleum Company (SANPC), a new state-owned oil enterprise designed to consolidate and energize the country’s long-stalled hydrocarbons sector. Formed from the merger of PetroSA, iGas, and the Strategic Fuel Fund, SANPC will operate under the Central Energy Fund and is already integrating staff and assets to streamline operations. The aim? Reducing oil imports, bolstering energy security, and tapping into over R95 billion in potential investment.The move comes just months after South Africa quietly allowed several of its coal-fired plants to exceed emissions limits in a desperate bid to avoid more blackouts.…
About a week ago, I told you about an odd policy at one of the top AI companies. When you apply for a job at Anthropic, the startup won’t let you use AI to write a required “Why Anthropic?” essay.That seemed a bit rich, coming from a company that’s been warning us to adopt AI or face irrelevance.On Friday, an Anthropic executive said the startup is reversing this stance.”We’re having to evolve, even as the company at the forefront of a lot of this technology, around how we evaluate candidates,” Mike Krieger said during an interview on CNBC. “So our…
Suriname, the South American nation hoping to replicate Guyana’s oil boom, is voting on Sunday in presidential and general elections to decide who will oversee energy and oil policy in the country over the next five years.Suriname, a former Dutch colony which gained independence in 1975, has a population of just over 600,000 residents who will choose among five presidential candidates in the May 25 election.Incumbent President Chan Santokhi seeks a second five-year presidential term against four other contenders. The president’s biggest rival appears to be Jennifer Geerlings-Simons, the leader of the left-leaning National Democratic Party.Both frontrunners are encouraging more…
SAN DIEGO (AP) — The runway lights were out, a weather alert system wasn’t working and there was heavy fog at a San Diego airport when a pilot who had flown across the country made the decision to proceed with landing but came up short and crashed into a neighborhood, likely killing all six aboard the aircraft, investigators said Friday. Investigator Dan Baker of the National Transportation Safety Board said officials will work over the next year to determine what caused the Cessna 550 Citation to crash just before 4 a.m. local time Thursday. The jet was carrying a music…
Mitsui O.S.K. Lines, owner of the world’s largest fleet of liquefied natural gas carriers, said it is hard to buy Chinese vessels for the time being as the US ramps up scrutiny of the Asian country’s shipbuilding industry. “It is difficult to purchase Chinese vessels under the current circumstances, because of the port entry fees” that the US is proposing for China-built ships calling at its ports, a spokesperson for the Japanese firm said. Earlier on Friday, the Nikkei reported Mitsui O.S.K. was planning to shift new orders from China to South Korea. But the plans have not yet been…