Oracle Weighs Security Backstop, Small Stake to Land TikTok Deal
Oracle Corp. is weighing a proposal for a sale of TiKTok's US operations that would have it provide security assurances and take a small stake in a new American entity while potentially leaving the app's influential algorithm in Chinese hands, according to people familiar with the matter.
A proposal was circulated within the Trump administration last week that would have Oracle work with US buyers to vouch for the safety of users' data, according to the people, who discussed the plan on condition of anonymity citing its confidentiality. That would include guarantees that an updated US version of TikTok would not contain a back door that China's government could exploit, they said.
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New York Times
28 minutes ago
- New York Times
NATO Chief Urges Members to Spend Far More on Military
The chief of NATO on Monday called on the alliance to make a 'quantum leap in our collective defense,' committing to increases in military spending that far outstrip what Britain and most other members have yet pledged. Speaking in London, Mark Rutte, NATO's secretary-general, laid bare the budget pressures that will face Britain and its European neighbors as they confront the aggression of Russia and the retrenchment of the United States. Mr. Rutte, a former prime minister of the Netherlands, is pushing for members to commit to spending 5 percent of their gross domestic product on military and defense-related activities, a target promoted by President Trump, who complains that the alliance has long unfairly burdened the United States. Mr. Rutte hopes to enshrine the new benchmark at a NATO summit meeting in The Hague on June 24 and 25. But he has yet to set a timeline for when members would be required to meet it — and the goal still seems elusive. Britain has pledged to increase military spending to 2.5 percent of gross domestic product by 2027, paid for by diverting funds from overseas aid. Prime Minister Keir Starmer has set a goal of 3 percent within a decade, though he has refused to give a more specific date without knowing where the money will come from. Ramping up to 5 percent, analysts say, would necessitate politically painful trade-offs for Britain, which is already dealing with straitened public finances. Britain currently spends 2.3 percent of its economic output on defense, more than France or Germany but less than the United States, at about 3.4 percent. Want all of The Times? Subscribe.
Yahoo
37 minutes ago
- Yahoo
PensionBee Survey Reveals Nearly Half of Americans Have Less Than One Year of Retirement Savings
New data reveals alarming saving gaps and costly behavioral patterns undermine retirement security across all generations NEW YORK, June 09, 2025 (GLOBE NEWSWIRE) -- Nearly one in three Americans (30%) couldn't survive more than six months on their retirement savings if they had to stop working tomorrow, while 42% have less than one year of savings total, according to new data from PensionBee's Q2 Happy Retirement Report. Just one in ten Americans believes they can live off their savings for 10 years or more. These findings reveal more than a retirement problem—they expose a survival crisis hiding in plain sight. With traditional pensions declining and Social Security facing potential cuts, Americans across all generations are more dependent on personal savings than ever before. Yet most are lacking basic financial resilience. 'Low saving levels among older workers are particularly troubling,' said Romi Savova, CEO of PensionBee. 'In an economy where companies are cutting costs and older workers often face the longest unemployment periods, inadequate savings isn't just about retirement, it's about basic survival. Too many people are one layoff away from being forced into a retirement they can't afford. With AI poised to reshape entire industries, this financial vulnerability becomes an existential threat for millions of American families." The Actions Behind the Numbers But here's what separates financial confidence from financial fantasy: specific, measurable actions. The survey reveals that confidence isn't built on hope—it's built on behavior. Among respondents who feel "very positive" about retirement, 61% have structured retirement plans, half with professional guidance, and 25% have consolidated multiple accounts. In stark contrast, just 9% of Americans who feel "very negative" about retirement have any structured retirement planning in place. Americans who felt 'very negative' about their retirement were also twice as likely (41%) to have delayed saving until age 30, compared to just 20% of those who reported a 'very positive' outlook. The data reveals the specific actions that separate confident savers from worried ones: starting early, maximizing employer benefits, consolidating old retirement accounts, and, when it makes sense, working with financial advisors. These aren't just nice-to-haves—they're the foundation of financial security in an uncertain economy. Retirement Preparedness Across Generations Gen Z: Building Financial Foundation Despite Early Challenges At 43%, Gen Z reports the second-highest retirement optimism, yet their behavior suggests financial vulnerability. Nearly one in five (19%) have already taken hardship withdrawals from retirement accounts—a concerning trend for a generation just starting their careers. However, they're also the most proactive: 25% plan to seek financial advice this year, and 29% are embracing online planning tools. Their challenge isn't awareness—it's building financial resilience while navigating an increasingly expensive economy. Millennials: Navigating Multiple Financial Priorities Millennials show clear signs of economic pressure from competing priorities. They report the lowest retirement confidence (41%) and are most likely to be managing student debt, aging parents, and childcare. Nearly one in four (22%) cash out their 401(k)s when changing jobs, compared to just 14% of Baby Boomers. Having entered the job market during the Great Recession, many developed financial habits that prioritize immediate needs over long-term wealth building. At 29%, they're most likely to delay starting retirement savings, missing crucial years of compound growth. Gen X: Managing Time Constraints and Competing Demands Gen X faces significant time pressure: 36% have less than one year of savings with fewer than 10 years until retirement age. Supporting both aging parents and college-bound children, they're working to build adequate retirement funds within a compressed timeframe. Further, only 23% consistently contribute enough to receive full employer matching funds, representing missed opportunities that could meaningfully improve their retirement outlook. Baby Boomers: Confident Outlook with Limited Savings Baby Boomers report the highest optimism (51%), though this confidence may not fully align with current retirement trends showing later retirement ages and continued reliance on part-time work. Despite being around retirement age, nearly half (49%) of Baby Boomers reported having five years or less of savings. This generation's optimism reflects a different economic era—one with pensions, affordable healthcare, and more predictable career paths. What Comes Next Despite these challenges, the survey reveals reason for optimism: half of Americans plan to increase contributions this year, suggesting growing awareness of the problem. 41% of Americans reported a positive retirement outlook in Q2—down over 10% from Q1's survey. This declining confidence seems to reflect not only the market volatility but perhaps a growing awareness that individual effort alone cannot solve a systemic problem. "The widespread lack of retirement preparedness we're seeing isn't something workers can solve alone," added Savova. "Employers have a critical role beyond just offering a 401(k). When workers are cashing out accounts during job changes and missing employer matches, that's a clear signal that current benefit structures aren't working. We need to reform our system and take active steps: automatic enrollment, better education, and support systems that help departing employees preserve their savings rather than lose them.' About PensionBee PensionBee is a leading online retirement provider, helping people easily consolidate, manage, and grow their retirement savings. The company manages approximately $8 billion in assets and serves over 275,000 customers globally, with a focus on simplicity, transparency, and accessibility. Survey Methodology* Participation Details: The survey data was gathered and sent out by Attest between May 9, 2025 and May 13, 2025 to a total of 1,000 Americans across the 18 - 100 age groups. Voluntary Participation: Participation in the survey was voluntary. Respondents were free to decline participation or skip any questions they chose not to answer. Your investment can go down as well as up. This survey is provided solely for informational and educational purposes and should not be relied upon as sole decision-making tools. Nothing presented here constitutes tax, legal, financial or investment advice. This information does not take into account the specific financial, legal or tax situation, objectives, risk tolerance, or investment needs of any individual investor. All information provided is based on publicly available data and research at the time of posting. This information, and any associated customer testimonial or third party endorsement, does not constitute an offer, solicitation, or recommendation to buy or sell any securities or investments. Your investment is at risk. Past performance is no guarantee of future results. Media Contact: Adela McVicarSR PR PensionBee Inc. is registered with the Securities and Exchange Commission as an investment adviser. We do not provide in-person advice. PensionBee Inc (Delaware Registration Number SR20241105406) is located on 85 Broad Street, New York, New York, in to access your portfolio
Travel Weekly
39 minutes ago
- Travel Weekly
Trump executive order clears path for overland supersonic flight
President Trump has issued an executive order that would allow for commercial supersonic flights over land. The June 6 order directs the FAA to begin the process of repealing the existing overland ban, which was put in place in 1973 due to the loud noise emitted by sonic booms, within 18 months. In its place, the order calls for the FAA to set a standard for supersonic aircraft noise that considers community acceptability, economic reasonableness and technological feasibility. Commercial supersonic flights have not been available since the Concorde last flew in 2003. But technological advancements have since made supersonic flight much quieter. In January, the startup Boom Supersonic completed supersonic tests of a prototype plane, called XB-1, which it says were not audible on the ground. Boom hopes to build a new generation passenger supersonic aircraft, to be called Overture, with first production at its Greensboro, N.C., factory next year, though doing so will be a tall task. Among a number of challenges, the company's largest obstacle might be that it must also build its own engine, having failed to secure the assistance of major engine makers, including GE, Rolls-Royce and Pratt & Whitney. In a press release, Boom praised Trump's executive order: "Once the ban is lifted, Overture's Boomless Cruise mode will allow speeds up to Mach 1.3 [997 mph] over land. This is up to 50% faster than today's jets, with no audible boom for communities below. Travelers could save up to 90 minutes on U.S. coast-to-coast routes, and global routes with overland segments would see even more significant benefits."
