Author: Jack Mulligan

Massive Investment Targets U.S. Electric Grid and Hydropower Google will invest $25 billion over the next two years in data center and artificial intelligence infrastructure across states served by the nation’s largest electric grid, the company announced Tuesday. The tech giant is also committing $3 billion to modernize two hydroelectric power plants in Pennsylvania, a move aimed at securing clean energy for its expanding AI operations. The investments will take place within the PJM Interconnection, which spans 13 states in the mid-Atlantic, Midwest, and South, including the highly concentrated data center region of northern Virginia. PJM has been under increasing…

June CPI Hits 2.7% Amid Growing Price Pressures Consumer prices increased by 0.3% in June, bringing the annual inflation rate to 2.7%, the highest level since February, according to data from the Bureau of Labor Statistics. The core inflation rate, which excludes food and energy, rose 0.2% on the month, pushing the year-over-year figure to 2.9%. These numbers align with economists’ expectations, but remain above the Federal Reserve’s 2% target. The uptick in inflation arrives as President Donald Trump’s tariff policies start to affect the broader economy. Though the direct impact of tariffs on prices is difficult to isolate, categories…

Deal Secures IP, Talent and Brand After Leadership Exodus Artificial intelligence startup Cognition has acquired Windsurf, the AI coding company that recently lost its CEO and top talent to Google. The acquisition includes Windsurf’s intellectual property, brand, product, trademark and remaining workforce. While terms were not disclosed, the move marks another escalation in the ongoing talent war gripping the AI sector. The acquisition comes just days after Windsurf co-founder and CEO Varun Mohan joined Google, following the collapse of a reported $3 billion acquisition deal with OpenAI earlier this year. Google confirmed it would pay $2.4 billion in licensing and…

Opposition Gains Could Stall Rate Normalization Japan’s central bank may face increasing political pressure to keep interest rates near zero, as opposition parties campaigning on tax cuts and looser monetary policy are expected to gain ground in the July 20 election. Polls suggest that Prime Minister Shigeru Ishiba’s ruling coalition could lose its majority in the upper house, further complicating the government’s already fragile hold on power. With the governing bloc already a minority in the lower house, a legislative gridlock could hand smaller parties more leverage in fiscal and monetary policy debates. Many of these parties favor continued low…

Comfort Threshold Rises to $839,000 in 2025 Americans now believe it takes significantly more money to feel financially comfortable. According to Charles Schwab’s 2025 Modern Wealth Survey, the average figure cited to achieve comfort is $839,000 — up from $778,000 just a year ago. When asked what it takes to be considered “wealthy,” respondents put the number at $2.3 million, a notable jump from $1.9 million in 2021. The rising figures reflect growing concern over the cost of living, high interest rates, and an increasingly uncertain economy. Nearly two-thirds of survey participants said they feel it takes “quite a bit…

Deal Marks End of Walgreens as Public Company Shareholders of Walgreens Boots Alliance have approved a $10 billion acquisition offer from private equity firm Sycamore Partners, marking a major turning point for the 123-year-old drugstore chain. Under the terms of the agreement, Walgreens shareholders will receive $11.45 per share, with the potential for an additional $3 per share tied to the future monetization of the company’s stake in VillageMD. The deal, originally announced in March, will take Walgreens private for the first time since 1927. CEO Tim Wentworth said the partnership with Sycamore will allow the company to implement its…

Central bank expected to lower benchmark rate to 4.75% Chile’s central bank is widely anticipated to reduce its benchmark interest rate by 25 basis points to 4.75% at its upcoming monetary policy meeting on July 28, according to a poll of analysts released Thursday. The expected cut would continue the bank’s ongoing easing cycle aimed at supporting economic activity as inflation begins to moderate. Traders and economists surveyed by the central bank project that the easing trend will persist through the end of the year, with the policy rate forecast to fall to 4.5% within the next five months. The…

Governing board leans toward smaller rate cuts Most members of the Bank of Mexico’s governing board now favor a more cautious pace of monetary easing, according to minutes from June’s rate decision. After four consecutive cuts, including a 50-basis-point reduction last month, the majority of policymakers suggest the central bank may be approaching the limit of aggressive action as inflation remains above target and economic growth stays sluggish. All four board members who supported June’s half-point cut expressed support for scaling back future adjustments. At least two suggested that the June cut should be the final one of that magnitude,…

Fifth consecutive monthly growth masks rising competition risks China’s car sales rose 18.6% year-over-year in June to 2.1 million units, extending a five-month growth streak, according to the China Passenger Car Association (CPCA). First-half sales climbed 11.2% to 11.1 million vehicles, signaling sustained market momentum despite growing concerns among electric vehicle makers. Sales of electric vehicles (EVs) and plug-in hybrids remained robust, surging 29.7% from June 2024 and accounting for 52.7% of total car sales. That’s up from a 28.2% share the previous month. However, major EV players showed signs of deceleration. BYD, Li Auto signal weakening momentum Local EV…

Trump’s trade campaign accelerates revenue surge U.S. Treasury Secretary Scott Bessent announced Tuesday that the country has already collected around $100 billion in tariff revenue so far this year, and that total could triple to $300 billion by the end of 2025. The surge follows President Donald Trump’s renewed trade offensive, which introduced sweeping tariff hikes in the second quarter. Speaking at a White House cabinet meeting, Bessent said the new tariffs — including a blanket 10% duty on most imports and increased rates on steel, aluminum, and autos — only began to take effect recently. “So we could expect…