Trump Drops Jared Isaacman as Nominee for NASA Chief
White House says next space agency leader should be completely aligned with 'President Trump's America First agenda.'
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Yahoo
18 minutes ago
- Yahoo
Oil prices slip as rising OPEC+ output, tariff fears weigh on outlook
By Yuka Obayashi TOKYO (Reuters) - Oil prices edged lower in early Asian trade on Wednesday, weighed down by a loosening supply-demand balance following increasing OPEC+ output and lingering concerns over the global economic outlook due to tariff tensions. Brent crude futures dipped 5 cents, or 0.1%, to $65.58 a barrel by 0040 GMT while U.S. West Texas Intermediate crude was at $63.32 a barrel, down 9 cents, or 0.1%. Both benchmarks climbed about 2% on Tuesday to a two-week high, supported by worries over supply disruptions from Canadian wildfires and expectations that Iran will reject a U.S. nuclear deal proposal that is key to easing sanctions on the major oil producer. "Despite fears over Canadian supply and stalled Iran-U.S. nuclear talks, oil markets are struggling to extend gains," said Tsuyoshi Ueno, senior economist at NLI Research Institute, adding that OPEC+ production increases were capping the upside. Ueno said hopes for progress in U.S.-China trade talks were overshadowed by profit-taking, as investors remained cautious over the broader economic fallout from tariffs. U.S. President Donald Trump and Chinese leader Xi Jinping will likely speak this week, White House press secretary Karoline Leavitt said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. As the Trump administration pressed U.S. trading partners to provide their best offers by Wednesday, the protracted negotiations and moving deadlines have led economists to scale back growth forecasts. On Tuesday, the Organisation for Economic Co-operation and Development (OECD) cut its global growth forecast as the fallout from Trump's trade war takes a bigger toll on the U.S. economy. Meanwhile, scores of wildfires have swept across Canada since the start of May, forcing thousands of evacuations and disrupting crude oil production in the country. U.S. crude stocks fell by 3.3 million barrels in the week ended May 30, market sources said, citing American Petroleum Institute figures on Tuesday. Gasoline inventories rose by 4.7 million barrels and distillate stocks rose by about 760,000 barrels. [API/S] A Reuters poll of nine analysts estimated an average draw of 1 million barrels in crude stocks. [EIA/S] Official inventory data from the U.S. Energy Information Administration (EIA) is due on Wednesday.
Politico
23 minutes ago
- Politico
White House allies ‘disappointed' at Musk's opposition to the megabill
Republican allies close to the White House are privately argue that the former special government employee — who spent Tuesday afternoon blasting the spending bill and threatening to retaliate against its supporters — is opposing the bill because it harms the tech billionaire's business interests. The House-passed megabill represents the president's chief — and potentially only — major legislative priority this Congress. But Musk's opposition suggests that the coalition that vaulted Trump to the White House is still facing internal disagreement over it as it makes its way through the Senate. It marks another dust-up between the MAGA and Tech Right. And it raises the possibility some members face pressure from Musk if they ultimately support it. 'The West Wing is perplexed, unenthused, and disappointed' with Musk, who left the White House to attend to his ailing business empire, according to one White House official, who like others interviewed for this story were granted anonymity to be candid about an ally who spent hundreds of millions to ensconce them in the White House.
Forbes
23 minutes ago
- Forbes
The AI Era Enters Its Sovereign Phase
Generative AI adoption started in late 2022 with public adoption of models like ChatGPT and Llama. As it drives towards its next phase of value creation with reasoning, also referred to as agentic AI, it has recently crossed the boundary from a consumer-centric application into an enterprise application. Right on the heels of this adoption is also another phase of value creation – Sovereign AI. What Is Sovereign AI? Sovereign AI refers to artificial intelligence that is developed, maintained, and controlled within a specific nation's or organization's jurisdiction, ensuring independence from external influences. This artificial intelligence is designed to align with local regulations, ethical standards, and strategic priorities, allowing governments and enterprises to maintain autonomy over their AI-driven operations. The Opportunity To Reign Supreme (Or At Least Be At The Front Of The Pack) Nvidia CEO Jensen Huang recently stated that 'AI is now an essential form of national infrastructure – just like energy, telecommunications and the internet.' Indeed, many leading countries such as the United States, United Kingdom, China, France, Denmark and the United Arab Emirates have launched sovereign AI initiatives. Stargate is an example of such an initiative from the United States. Additionally, leading AI enablers like Nvidia and OpenAI, have initiatives targeted specifically at helping entities establish their own sovereign AI capabilities. Sovereign AI is particularly crucial in areas like national security, defense, and critical infrastructure, where reliance on foreign AI models could pose risks related to data privacy, cybersecurity, or geopolitical dependencies. By building and maintaining custom AI capabilities, nations and organizations can safeguard their technological sovereignty while fostering innovation tailored to their unique needs. Moving Forward With Sovereign AI While this is a gross oversimplification of how complicated this task is for national leaders to undertake, the following are some critical areas that must be addressed in embarking on the sovereign AI journey: To this end, AI enablers like Nvidia and leading countries such as France have started to organize events. For example, at the upcoming Viva Technology event in Paris this coming June, Jensen Huang and Nvidia have organized a dedicated GTC event where interested parties can learn more. As mentioned earlier, it is important to keep in mind that sovereign AI isn't necessarily limited to national entities. Any sufficiently capable entity, whether they be nations, companies, organizations or universities interested in securing their own AI systems and capabilities from data curation and model creation to specified and focused outcomes can take advantage of sovereign AI.
