Trump signs an executive order that invites vetting of top AI models for national security risks
President Donald Trump has signed a new executive order on oversight of artificial intelligence, less than two weeks after postponing a White House ceremony over his concerns that a similar policy could dull America’s edge on AI technology. It was not immediately clear to what extent the order signed Tuesday differed from the one he declined to sign on May 21. The order establishes a framework to vet the national security risks of the most advanced AI systems for up to a month before their public release. The government will be able to work with trusted partners “to promote secure innovation and strengthen the cybersecurity of critical infrastructure,” the order says.
US sanctions Iran’s largest digital asset exchange Nobitex and 3 others
WASHINGTON (AP) — The Trump administration has placed sanctions on Iran’s largest digital asset exchange, Nobitex, and three others. This move is part of ongoing efforts to pressure Iran into a deal to end a war with the U.S. and Israel. Treasury says Nobitex processed over 50% of Iran's digital asset income last year and supports sanctions evasion. On Tuesday, Iranian news agencies reported Iran stopped communicating with mediators about a ceasefire extension. President Trump disputes this, saying talks continue. Treasury accuses Nobitex of moving assets to shield regime wealth. The U.S. has also imposed sanctions on Iran's Persian Gulf Strait Authority.
Tokyo's Nikkei 225 index tops 68,000 for the 1st time as Wall Street logs more records
Japan's Nikkei 225 index has topped 68,000 in early trading after U.S. stocks pushed further into record territory. The dollar also briefly hit 160 Japanese yen before slipping back slightly. Oil prices rose more than $1 a barrel. Buying of technology shares linked to the boom in artificial intelligence has been driving rallies worldwide. On Tuesday, the S&P 500 rose 0.1% and the Dow Jones Industrial Average added 0.4%. The tech-heavy Nasdaq composite edged up by less than 0.1%. All three indexes set all-time highs. Marvell Technology leaped to its biggest gain ever after Nvidia’s CEO suggested it could be the next company to be worth $1 trillion.
US says it plans extra tariffs of 10% or more for most trading partners after forced labor probe
WASHINGTON (AP) — The U.S. Trade Representative has announced the Trump administration is proposing tariffs of 10% or more for dozens of major trading partners following a probe into alleged forced labor. The report released early Wednesday by the USTR said Canada, Mexico, Taiwan and the United Kingdom would face 10% tariffs for allegedly failing to enforce a forced labor import ban. A 12.5% additional tariff would be imposed on China, Japan, India, South Korea, Brazil and Switzerland. The new tariffs would not take effect immediately. They are subject to public comment and review. The investigation under Section 301 of the Trade Act of 1974 would enable U.S. President Donald Trump to skirt court-imposed limits on his tariffs.
George Santos reported to prosecutors over suspicious Kalshi trades, AP source says
NEW YORK (AP) — A prediction market reported U.S. Rep. George Santos to federal prosecutors after he boasted he’d be going to President Donald Trump’s State of the Union address, then bet against his own attendance. That's according to a person familiar with the investigation who spoke to The Associated Press on condition of anonymity. The prediction marketplace Kalshi detected trades made by Santos ahead of Trump's February 24 speech. Santos had said he would attend the speech, but did not show up. Santos was sentenced to prison for fraud and identity theft in 2024, but only served a sliver of his sentence before being granted clemency by Trump. Santos did not respond to a request for comment about the Kalshi trades.
Trump is facing a new inflation warning from the bond market, adding to his midterm challenges
WASHINGTON (AP) — The world is getting more uptight about lending money to President Donald Trump’s government. The energy price spike triggered by the Iran war has seeped into the price of bonds that help fund the U.S. government. That's caused interest rates to climb in ways that are worsening affordability pressures, creating a new risk for Republicans in November’s elections. Trump says a task force on fraud could find enough savings to balance the budget. Economists say that's probably unrealistic because of the magnitude of the deficit. Voters are concerned about high food and gas prices. Higher interest rates make it harder to buy or renovate a home, afford a new car or manage credit card debt.
Trump taps housing regulator Pulte to be acting director of national intelligence
WASHINGTON (AP) — Democrats and Republicans say President Donald Trump's pick for director of national intelligence seems unqualified. Democrats say federal housing finance director Bill Pulte lacks national security experience. Republican Sens. Thom Tillis of North Carolina, Bill Cassidy of Louisiana and John Cornyn of Texas are leaving the chamber after this year’s elections and say Pulte lacks qualifications to be DNI. The Republican president says Pulte will remain director of the Federal Housing Finance Agency and chair of mortgage giants Fannie Mae and Freddie Mac while filling in for Tulsi Gabbard, who resigned last month. Democratic Sen. Elizabeth Warren says Pulte has abused his authority as housing finance director and asks, “What could go wrong?”
Trump administration proposes 25% tariffs on Brazil despite extensive US trade surplus
WASHINGTON (AP) — The Trump administration proposed 25% tariffs on imports from Brazil, charging that the world’s 10th-biggest economy engages in trade practices that are “unreasonable’’ and that “burden or restrict U.S. commerce.’’ The announcement late Monday came after an investigation by the Office of the U.S. Trade Representative that charged Brazil with lax anti-corruption enforcement and unfair tariffs of its own, among other things. The agency has scheduled a public hearing July 6 on the proposed tariffs.
Scott Pelley fired from '60 Minutes,' deepening turmoil at CBS News
CBS News has fired longtime “60 Minutes” correspondent Scott Pelley. It came a day after he allegedly said Editor-in-Chief Bari Weiss was “murdering the show” and accused its new producer of having “slender qualifications” for the job. The move deepened the turmoil at the nation’s most influential TV news program and the news unit that oversees it. Pelley had criticized the program’s leadership during an introductory meeting Monday between the show’s staff and Nick Bilton, the new executive producer named by Weiss last week. That was reported first on the Status website. In a termination notice obtained by The Associated Press, Bilton accused Pelley of carrying out an “ambush” against him.
Anthropic races toward a Wall Street debut with a confidential SEC filing
Artificial intelligence company Anthropic is moving toward going public on Wall Street, the latest chapter in its meteoric rise from a little-known research laboratory to one of the leading AI companies valued at $965 billion. Anthropic said Monday it has submitted a confidential filing with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. Anthropic said last week it had raised $65 billion in private funding that will push its valuation to $965 billion, a whopping number that makes the five-year-old maker of the Claude chatbot one of the world’s most valuable startups.
