USDA will relocate most of its DC-based workforce
Agriculture Secretary Brooke Rollins told employees in a video message that the move is aimed at reducing costs and moving the agency's workforce, which is already primarily scattered across the country, 'closer to the people we serve.' About 2,600 out of 4,600 employees will be relocated to Salt Lake City; Fort Collins, Colorado; Indianapolis; Kansas City, Missouri; and Raleigh, North Carolina.
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New York Post
22 minutes ago
- New York Post
Shuttered Albany restaurant popular with NY elite, politicians to reopen as members-only social club
An Albany restaurant that used to feature a clientele list teeming with some of the most powerful politicians in New York is set to reopen as a private members' dining club in late 2025. The La Serre restaurant closed in 2020 after it was unable to bounce back from the COVID-19 lockdown, with much of its business at the time relying on large gatherings like banquets and receptions, founder Anne Trimble told the Times Union. The French-based restaurant originally opened in 1977 and quickly became a favorite among New York's political elite on both sides of the aisle during its run, including former Govs. Hugh Carey, Mario Cuomo, George Pataki and Andrew Cuomo. Advertisement Albany's La Serre restaurant will be taken over by an exclusive politician nightclub. Albany Times Union via Getty Ima Now, Mayor Eric Adams' spokesman Todd Shapiro is looking to revamp the historic mainstay alongside Greg Caggiano and Todd Miller of the law firm Miller & Caggiano. 'This is going to be the most important political and social venue north of Manhattan. We're bringing back the old-school power — but with a modern twist: young, trendsetting, high-end, and unapologetically political,' Shapiro said. Advertisement Their vision centers around elevating the old restaurant's history by making it a hotspot for 'high-level networking, private events, and political strategy' while filling the space of a much-needed 'contemporary social anchor,' according to a press release. They plan to make it highly selective, primarily limiting membership to public leaders, media influencers, creatives and civic entrepreneurs, according to the release. La Serre closed in 2020 after it was unable to recover from the COVID-19 lockdown. Albany Times Union via Getty Ima The restaurant will also include a secluded 'War Room' — which shares its name with another restaurant owned by Shapiro — that will be reserved for politicians' off-the-record meetings. Advertisement The new and improved La Serre will include a rooftop terrace and renovated interior, likely shifting away from the upscale, green leather-laden atmosphere of the old restaurant and gravitating towards something more 'clubby,' per the release. Trimble founded the restaurant alongside her late husband, Geoffrey, who passed away in 2005. She managed the restaurant with her son, John, up through its closure, the Times Union reported.
Business Wire
an hour ago
- Business Wire
KKR Forms A$500 Million Strategic Partnership with CleanPeak Energy to Launch New Distributed Energy Platform
SYDNEY--(BUSINESS WIRE)--Global investment firm KKR today announced the signing of definitive agreements under which funds managed by KKR will commit A$500 million to strategically partner with CleanPeak Energy ('CleanPeak') to rapidly grow its distributed energy platform. KKR's investment will support CleanPeak in growing and developing a pipeline of distributed solar, battery storage and micro‑grid solutions for Australia's commercial and industrial ('C&I') sector. Co-founded by Philip Graham and Jon Hare in 2017, CleanPeak is a leading provider of fully financed, integrated solar‑and‑storage systems for blue‑chip corporates across Australia. The company operates over 50 distributed generation sites across Australia including over 140MW of Solar Assets and 35MWH of Battery Energy Storage System ('BESS') projects, and is currently delivering over $200m of construction projects in the sector. 'Australia's C&I energy market is at an inflection point as corporates seek bankable pathways to better energy efficiency, reliability and affordability,' said Neil Arora, Partner and Head of KKR's Climate Transition strategy for Asia. 'By combining CleanPeak's proven operating platform with KKR's global network, operational expertise, and deep experience across our energy and infrastructure teams, we are well positioned to unlock significant opportunities for corporate customers looking to decarbonise and reduce their energy bills.' CleanPeak Chief Executive Philip Graham welcomed the strategic partnership, 'KKR is a perfect strategic partner for us as we seek to rapidly expand renewable energy solutions for our customers. They bring deep energy transition expertise, financial strength and a partnership mindset that will allow CleanPeak to continue to offer net zero solutions at the same time as accelerating our growth plans through bolt‑on acquisitions. Together, we will deliver reliable, lower‑carbon energy for corporate Australia.' 'CleanPeak's distributed energy approach reduces network costs which make up a significant portion of the all-in cost of retail electricity and results in more competitive power prices for our customers,' said Jon Hare, CleanPeak's Chief Operating Officer. KKR is making this investment from its Global Climate Transition strategy. This investment marks the strategy's first in Asia-Pacific and its sixth transaction globally, underscoring KKR's conviction in the energy‑transition opportunity set. Since 2010, KKR has committed more than US$34 billion in climate and environmental sustainability investments. Past investments have included Zenobē, a UK-based transport electrification and battery storage solutions specialist; EGC, an energy service provider in Germany; Dawsongroup, an independent asset leasing business which provides a diverse range of business-critical solutions; Avantus, a solar and solar-plus-storage developer in the US; and IGNIS P2X, an industrial decarbonisation platform. The transaction is expected to close in H2 2025, subject to customary regulatory approvals. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at About CleanPeak CleanPeak is a specialist renewable energy company in Australia empowering large industrial & commercial businesses to reduce their carbon emissions & transition to net zero. CleanPeak specialises in designing, building, owning and operating renewable energy assets, and associated infrastructure. By integrating state-of-the-art solar, battery and thermal energy assets, CleanPeak delivers energy solutions that are affordable, reliable and sustainable. CleanPeak's operating portfolio consists of over 40 MW of rooftop solar, 100 MW of utility solar projects and 35 MWh of battery projects, as well as microgrids providing energy and thermal services for more than 1,000,000 square meters of floorspace. CleanPeak has a further 100 MW of solar and 300 MWh of battery projects in the pipeline. CleanPeak's internal EPC capability drives superior design and delivery outcomes, tailored to the needs of individual clients. Our asset management capabilities are underpinned by proprietary IT systems that optimise performance, efficiency, and resilience. With its own retail electricity license, CleanPeak is uniquely positioned to supply power directly to end-users, offering flexible, customer-first retail solutions that minimise cost and carbon footprint. Whether it is powering large commercial precincts or integrating behind-the-meter solutions, CleanPeak connects the dots from project design through to renewable generation and distribution. For additional information about CleanPeak, please visit
Yahoo
2 hours ago
- Yahoo
1 Super Artificial Intelligence (AI) Stock Billionaire Bill Gates Has 25% of His Foundation's Portfolio Invested In
Key Points The Gates Foundation holds a substantial number of Microsoft shares. Microsoft has become a top player in offering artificial intelligence models. However, the stock is starting to appear somewhat pricey compared to its peers. 10 stocks we like better than Microsoft › Bill Gates is a well-known entrepreneur, having co-founded Microsoft (NASDAQ: MSFT) in the mid-1970s. This made him a fortune, and he constantly ranks among the richest people in the world. He established the Gates Foundation Trust, one of the world's most well-funded foundations. By examining its holdings, investors can gain insight into what one of the world's brightest minds considers top stock picks, and they've identified an AI stock that has been a stellar performer in recent years. In fact, the stock has more than doubled since the start of 2023 alone. What is this stock? It's none other than Microsoft. Microsoft is the foundation's top holding This really shouldn't come as a surprise to anyone. Bill Gates runs the fund, so he will fill it with a company that he thinks will succeed. Most of this stock was donated from Gates' wealth; however, if the foundation didn't think Microsoft was set to succeed, they would have sold it a long time ago and moved on to something else. About 25% of the foundation's worth is tied up in Microsoft stock, valued at around $10.7 billion. That's a concentrated bet for a charitable foundation, but it has worked out well with Microsoft's recent success. Microsoft has emerged as a top AI pick due to its role as a facilitator in the space. It isn't developing its own generative AI model; instead, it's offering many of the leading ones on its cloud computing platform, Azure. Developers can choose from OpenAI's ChatGPT, a leading option, Meta Platforms' Llama, DeepSeek's R1 (a more affordable alternative from China), or xAI's Grok, a company founded by Elon Musk. By offering a wide range of generative AI models, Microsoft isn't locking its clients into a single provider. This has made Azure a top choice for building AI models on, which is why it has outgrown its peers in recent quarters. We'll get an update on how the other cloud computing providers -- namely Alphabet's Google Cloud and Amazon's Amazon Web Services (AWS) -- in the next few weeks, but I'd be shocked if Azure isn't growing quicker than they are. Azure has become a top platform for building AI applications, but has it done enough to make Microsoft a top buy now? Microsoft's stock is starting to look a bit pricey for its growth If Microsoft derived all of its revenue from Azure, I'd be a buyer at nearly any price. However, Microsoft has other product lines that aren't growing as quickly, which slows the company's overall growth pace. In its latest period -- the third quarter of fiscal 2025 -- overall revenue rose to $70.1 billion at a 13% pace. While Microsoft doesn't break out the revenue generated by Azure, we know from prior information that it accounts for over half of the Intelligent Cloud division, which brought in $26.8 billion during Q3 (ending March 31). They do provide Azure's growth rate, which was Microsoft's top-performing division in Q3, rising 33% year over year. Microsoft's diluted earnings per share also rose an impressive 18%, but is that fast enough to justify its valuation? Microsoft trades at nearly 40 times trailing earnings, which is a very expensive price tag and exceeds its recent highs reached during the AI arms race period. Wall Street analysts project $15.14 in earnings per share for fiscal 2026 (ending June 30, 2026), which indicates the stock trades at 33.7 times forward earnings. That's still a high valuation, and investors need to start being a bit cautious when stocks reach that level, especially when they're growing at Microsoft's pace. Yes, Microsoft is growing faster than the market, but it's not growing as fast as some of its peers. Take Meta Platforms, for example. It trades at 28 times trailing earnings and grew revenue at a 16% pace during its last quarter with 36% earnings-per-share growth. That's a cheaper stock growing faster, which should cause Microsoft investors to question whether it's the best big tech stock to be in right now. Numerous other big tech stocks have better growth numbers and cheaper valuations than Microsoft. Although it's a dominant company, it's starting to look a bit expensive compared to its peers. Should you buy stock in Microsoft right now? Before you buy stock in Microsoft, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Microsoft wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Keithen Drury has positions in Alphabet, Amazon, and Meta Platforms. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. 1 Super Artificial Intelligence (AI) Stock Billionaire Bill Gates Has 25% of His Foundation's Portfolio Invested In was originally published by The Motley Fool Sign in to access your portfolio
