• Home
  • Investing
  • Global
  • Business
  • Economy
  • Tech/AI
  • Lifestyle
  • About Us
  • Contact
  • Home
  • Investing
  • Global
  • Business
  • Economy
  • Tech/AI
  • Lifestyle
  • About Us
  • Contact
LOGIN
Tuesday, January 13, 2026
Top Posts
Costco: Compounding Power of Trust and Discipline
Uber: The Rulebreaker’s Playbook
Y Combinator: Accelerator or University
Investing Guidance – Oct 24, 2025
Investing Guidance – Oct 17, 2025
Investing Guidance – Nov 12, 2025
Intel: The Traitorous Eight
Google: Search Box to Empires
Investing Guidance – Nov 7, 2025
Investing Guidance – Nov 19, 2025
SUBSCRIBE NEWSLETTERS
  • Home
  • Investing
  • Global
  • Business
  • Economy
  • Tech/AI
  • Lifestyle
  • About Us
  • Contact
Copyright 2021 - All Right Reserved
Orsted rises 6% following a U.S. judge's decision that allows the company to continue its wind project that was stopped by Trump.
Economy

Orsted rises 6% following a U.S. judge’s decision that allows the company to continue its wind project that was stopped by Trump.

by admin January 13, 2026
written by admin

A turbine blade is hoisted onto a rack adjacent to tower sections at the assembly site of the Revolution Wind project at State Pier in New London, Connecticut, USA, on Friday, Oct. 24, 2025.
Bloomberg | Bloomberg | Getty Images

Shares of the Danish renewable energy leader Orsted climbed nearly 6% on Tuesday morning, shortly following a U.S. judge’s decision permitting the company to continue work on its nearly completed Revolution Wind project.

This ruling represents a legal challenge for the fossil fuel-supporting Trump administration, which attempted to obstruct the $5 billion Revolution Wind endeavor.

The White House stopped five significant offshore wind projects at the end of the previous year, including Orsted’s project located off the Rhode Island coast. Officials referenced national security issues highlighted by the Pentagon as justification for the halt.

Earlier this month, Orsted initiated a legal challenge against the Trump administration’s action, stating that the lease suspension would inflict “significant damage” on the Revolution Wind project.

Revolution Wind represents an equal partnership between Orsted and Global Infrastructure Partners’ Skyborn Renewables. In a submission made last year, Orsted and Skyborn Renewables disclosed they had already invested around $5 billion in the project.

Orsted’s shares traded 5.6% higher at roughly 8:20 a.m. London time (3:20 a.m. ET).

This is breaking news. Please refresh for updates.

January 13, 2026 0 comments
0 FacebookTwitterPinterestEmail
Trump informed about military and secret strategies for Iran, sources indicate
Global

Trump informed about military and secret strategies for Iran, sources indicate

by admin January 13, 2026
written by admin
1 hour ago

Danielle Kaye,Business reporterand

Claire Keenan

President Donald Trump has received briefings on a variety of covert and military strategies for potential use in Iran, as reported by two Department of Defense officials to the BBC’s US affiliate, CBS News.

Long-range missile attacks remain a viable option for possible US action, but Pentagon representatives have also outlined cyber tactics and psychological operations as alternatives, according to the sources.

On Monday, Trump declared a 25% tariff on imports from nations that engage commercially with Iran, while human rights organizations state that over 600 demonstrators have lost their lives during three weeks of anti-government unrest.

Iran’s foreign minister stated that Tehran is willing to engage in discussions with Washington but is also “ready for conflict”.

Trump’s national security team is slated to convene at the White House on Tuesday to explore options regarding Iran, the sources mentioned, though it remains uncertain whether the president will attend the meeting.

The US president previously indicated that his military was contemplating “very strong measures” to intervene should more protesters be harmed. Trump noted that Iranian officials had reached out for negotiations but mentioned that the US “might need to act before any meeting occurs”.

Discontent over the devaluation of the Iranian currency and poor economic management has escalated into a legitimacy crisis for Iran’s Supreme Leader Ayatollah Ali Khamenei.

On Monday, White House Press Secretary Karoline Leavitt reported that an Iranian representative also reached out to Trump’s special envoy Steve Witkoff, stating that Tehran’s public position is “quite [different] from the messages the administration is receiving privately”.

Nevertheless, she cautioned that the US president is “not hesitant to utilize military options whenever he deems it necessary”.

The two anonymous sources that discussed national security with CBS indicated that any potential US military action in Iran would likely involve air strikes, but planners are also evaluating strategies to disrupt Iranian command and communication networks.

The US has advised its citizens in Iran to evacuate or devise a departure plan that does not rely on assistance from the US government.

Khamenei accused the US of “deception” and depending on “treacherous mercenaries”, while commending pro-government rallies organized by the state in Iran on Monday.

He asserted that the “Iranian nation is a strong one, is aware of its enemies, and is present in every situation”.

State media reported large gatherings in multiple cities following appeals for pro-government protests. BBC Persian has documented text messages urging individuals within the country to participate in these demonstrations while also cautioning them against joining anti-government protests.

Separately on Monday, Trump declared via his Truth Social platform that he would implement a 25% tariff on products from nations that are “doing business” with Tehran, without providing further detail.

“This order is definitive and final,” he added.

Iran, already facing significant US sanctions, is contending with a deteriorating currency and inflation that has caused food prices to soar by as much as 70%. Food constitutes approximately one-third of Iran’s imports, and additional restrictions imposed by the tariffs may exacerbate shortages and elevate costs.

The White House did not provide further information regarding the tariffs. China remains Iran’s largest trading partner, followed by Iraq, the United Arab Emirates, Turkey, and India.

This initiative may intensify pressure on Tehran as the Iranian government amplifies its crackdown on anti-government protests.

Meanwhile, Reza Pahlavi, the son of the last shah of Iran now living in exile in the US, has urged Trump to take action “soon” to reduce the number of fatalities among demonstrators.

In a CBS News interview, Pahlavi stated that the current Iranian administration is “attempting to deceive the world into believing that (it) is again ready to negotiate”.

He characterized Trump as “a man who means what he says and says what he means” and who “understands the stakes”.

“I believe the president has a decision to make quite soon,” Pahlavi remarked.

At least 648 demonstrators in Iran have died, including nine individuals under 18, according to the Norway-based human rights organization Iran Human Rights (IHRNGO). Sources within Iran have informed the BBC that the actual death toll may be significantly higher.

The BBC and most other international news outlets are unable to report directly from Iran. An internet blackout initiated on Thursday evening has hindered efforts to gather and authenticate information.

January 13, 2026 0 comments
0 FacebookTwitterPinterestEmail
'We were deceived': How a woman entices foreign men to battle on Russia's front line
Global

‘We were deceived’: How a woman entices foreign men to battle on Russia’s front line

by admin January 12, 2026
written by admin
6 hours ago

Nawal Al-Maghafi,Senior international investigations correspondentand

Sheida Kiran,BBC Eye Investigations

Flames dance around the edges of Omar’s passport. “It’s igniting well,” a voice belonging to an unseen woman states in Russian within the footage.

Omar, a 26-year-old Syrian who works in construction, had been stationed for almost nine months on the front lines of Russia’s conflict in Ukraine when the video was sent to his phone.

He recognized the woman’s voice. It belonged to Polina Alexandrovna Azarnykh, who he claims had assisted him in enlisting to fight for Russia, offering high-paying work and Russian nationality. But now she was furious.

In a series of voice messages from Ukraine, Omar, using a pseudonym to protect himself, recounts how he found himself trapped and fearful in the combat zone.

He mentions that Azarnykh had guaranteed that if he gave her $3,000 (£2,227), she would ensure he remained in a non-combat position. However, he claims he was thrust into battle after only 10 days of training, leading him to refuse payment, prompting her to burn his passport in response.

He alleges he attempted to opt out of a mission, but his commanders threatened him with death or incarceration.

“We were deceived… this woman is a fraudster and a deceiver,” Omar states.

Telegram Polina Azarnykh standing smiling in a long black coat and smart black boots in a line of men wearing jeans, casual shoes and jackets. Their faces have been blurred to conceal their identities. They are holding up Russian travel documents.Telegram

A BBC Eye investigation has traced how Azarnykh, a 40-year-old ex-teacher, utilizes a Telegram channel to entice young men, frequently from impoverished backgrounds, into enlisting in Russia’s military.

The ex-educator’s cheerful video messages and bright posts present “one-year agreements” for “military service”.

The BBC World Service has identified close to 500 occasions where she has issued documents, termed invitations, enabling the recipients to enter Russia to join the military. These have been for men – primarily from Syria, Egypt, and Yemen – who seemingly provided her with their passport information to enlist.

However, recruits and their families have conveyed to the BBC that she misled men into thinking they would evade combat, did not clarify the inability to leave after a year, and threatened those who questioned her. Upon being approached by the BBC, she dismissed the allegations.

Twelve families revealed to us about young men they claim were enlisted by her who are now deceased or unaccounted for.

Telegram Polina Azarnykh looking straight at the camera while seated in a vehicle. She has long blonde hair and is wearing large sunglasses and a black top and is smiling.Telegram

Domestically, Russia has intensified conscription, hired prisoners, and introduced progressively more attractive sign-up bonuses to sustain its military efforts in Ukraine, despite significant casualties.

Over one million of its troops have been killed or wounded since the full-scale invasion began in 2022, with 25,000 fatalities reported in December 2025 alone, as per NATO.

Research conducted by BBC News Russian, utilizing obituaries and other publicly accessible death records, suggests Russian troop casualties in Ukraine surged more rapidly last year.

Determining the number of foreigners who have joined Russia’s military is challenging. Analysis by BBC Russian – which also examined the number of foreigners killed and injured – indicates at least 20,000 individuals might have enlisted, including from nations like Cuba, Nepal, and North Korea.

Ukraine has also experienced considerable troop losses and has integrated foreign fighters into its forces.

‘Bodies everywhere’

Omar’s initial encounter with Azarnykh occurred when he was stranded with hardly any funds at a Moscow airport in March 2024, accompanied by 14 other Syrians.

Employment in Syria was scarce and poorly compensated. Omar states a recruiter there had proposed civilian work guarding oil plants in Russia. They travelled to Moscow, only to find they had been duped.

While searching online for alternatives, Omar mentions one of the group discovered Azarnykh’s channel and contacted her.

She met them at the airport within hours and took them by train to a recruitment center in Bryansk, western Russia, he recounts.

There, he claims, she offered them one-year contracts with the Russian army, with a monthly salary approximating $2,500 (£1,856), and a sign-up payment of $5,000 (£3,711) – amounts they could only fantasize about in Syria.

Omar asserts that the contracts were in Russian, a language none of the men understood, and she confiscated their passports, assuring them she would facilitate Russian citizenship. She also indicated they could steer clear of combat roles if they each paid her $3,000 (£2,227) from their sign-up fees, he states.

Roman Chop/Global Images Ukraine via Getty Images A large blast of white and orange flame coming from a Ukrainian tank, as it fires towards Russian positions in a snowy landscape in the Donetsk region in January 2024Roman Chop/Global Images Ukraine via Getty Images

However, he claims that within a month, he found himself on the front lines with only 10 days of training and no prior military experience.

“We’re definitely going to die here,” he expresses in one of his voice messages, sent to a BBC investigative team.

“Many injuries, numerous explosions, a lot of shelling. If you don’t perish from the blast, you’ll be killed by the debris falling on you,” he informs in May 2024.

“Corpses everywhere… I’ve walked on dead bodies, forgive me, God,” he says the following month.

“When someone dies, I’ve witnessed it firsthand, they place them in a garbage bag and dispose of them beside a tree,” he remarks.

After nearly a year, he uncovered what he states Azarnykh had omitted to explain – a decree from 2022 permits the military to automatically extend soldiers’ contracts until the war concludes.

“If they renew the contract, I’m doomed – oh God,” he laments.

His contract was indeed extended.

‘Recruited from university’

Azarnykh’s Telegram channel boasts 21,000 subscribers. Her posts have frequently instructed readers wishing to apply to join the Russian military to send her a scan of their passport. She subsequently dispatched invitation documents, sometimes including a list of names of the individuals they were meant for.

The BBC has pinpointed over 490 such invitations that she has dispatched over the last year to men from countries including Yemen, Syria, Egypt, Morocco, Iraq, Ivory Coast, and Nigeria.

Her communications have referenced recruitment for an “elite international battalion” and clarified that individuals in Russia illegally – including those with expired visas – can apply.

Outside the UK, watch the film on YouTube.

We have interviewed eight foreign fighters including Omar who were enlisted by her, as well as the families of the 12 men who are dead or missing.

Many felt Azarnykh had deceived or exploited the recruits. They informed us that the men understood they were joining the military, but did not anticipate serving on the front line. Several, including Omar, felt they had insufficient training or believed they would be able to depart after a year.

In Egypt, Yousef – whose name we have also altered – informed the BBC that his older brother Mohammed had commenced a university program in Yekaterinburg, Russia, in 2022.

However, he struggled to cover his tuition, Yousef claims, and reported to his family that a Russian woman named Polina had started offering him assistance online, including employment with the Russian military that he believed would allow him to continue his studies.

“She assured him of housing and citizenship… monthly expenses,” he states. “Suddenly he was dispatched to Ukraine. He found himself in combat,” Yousef says.

His final communication was on 24 January 2024, according to Yousef. About a year later, he received a message on Telegram from a Russian number, containing photos of Mohammed’s remains. The family ultimately learned he had been killed nearly a year earlier.

‘Some lost their minds’

Azarnykh has become “one of the most significant recruiters” for Russia’s military, states Habib, another Syrian who has served in the Russian armed forces. He agreed to be filmed but spoke under a pseudonym due to fear of repercussions.

Habib asserts he and Azarnykh “collaborated for approximately three years on visa invitations to Russia.” He provided no additional details, and we have not been able to verify his involvement in the process. An image from social media in 2024 shows him alongside her.

Azarnykh, originally from Russia’s southwestern Voronezh region, managed a Facebook group that aided Arab students in coming to Moscow for studies before launching her Telegram channel in 2024.

Habib in a white roll-neck top speaking to the camera against a dark background. He has a dark beard and moustache.

Habib explains that most foreign recruits arrived with the expectation of roles securing facilities or monitoring checkpoints. “The Arabs who come are dying quickly. Some individuals lost their sanity – witnessing dead bodies is tough,” he states.

Habib mentions he met Omar and the group of Syrians at a military training facility. “She had promised them nationality, good pay, and safety,” Habib recounts. “But once you sign a contract here, leaving is impossible.”

“None of them knew how to handle a weapon. Even when under fire, they chose not to return fire… if you don’t shoot, you will be killed,” he adds. “Polina took the men, aware they were likely to die.”

He claims she “received $300 (£223) from the military for every individual she recruited”. The BBC could not verify this, though other recruits also indicated they believed she was compensated.

‘Nothing happens for free’

Azarnykh’s posts from mid-2024 began to indicate that recruits would be “involved in hostilities” and referenced foreign fighters who had perished in combat.

“You all understood well that you were heading to war,” she states in one video from October 2024. “You thought you could secure a Russian passport, do nothing, and enjoy a five-star hotel?… Nothing is ever free.”

In another instance in 2024, the BBC received a voice message from Azarnykh directed to a mother whose son was serving in the military. Azarnykh warns that the woman has “published something terrible about the Russian army”. Using vulgar language, she threatens the son’s life and cautions the woman: “I’ll track you down along with all your children.”

The BBC made several attempts to reach out to Azarnykh. Initially, she suggested she would agree to an interview if we traveled to Russia, a proposal the BBC declined for safety reasons. Later, when questioned during a voice call regarding claims that recruits were promised non-combat roles, she hung up. In subsequent voice messages, she criticized our efforts as “unprofessional” and warned of potential legal action for defamation. She further stated: “Our esteemed Arabs can shove their accusations where the sun doesn’t shine.”

The BBC reached out to the Russian Ministry of Foreign Affairs and the Ministry of Defence for comments but received no reply.

Previously, in March 2022, President Putin supported the recruitment of individuals from the Middle East, asserting they were motivated ideologically rather than financially: “There are individuals eager to volunteer, especially not for monetary reasons, and assist others.”

Telegram Azarnykh in a dark coat standing next to nine people in military clothing, with dense forest in the background. Next to her is Habib, who is wearing a khaki-coloured hood but his face is visible. The other people's faces are covered with black balaclavas or scarves, except for one whose face has been blurred. Telegram

‘Cash incentives’

Journalists and researchers investigating this matter indicate that individuals like Azarnykh are part of an intricate network of informal recruiters.

The BBC has discovered two other Arabic Telegram accounts making comparable offers for enlistment in Russia’s military. One features posts displaying invitation documents and names, while the other promotes substantial sign-up bonuses for joining an “elite battalion”.

In September, Kenyan authorities reported they had dismantled an alleged “trafficking syndicate” accused of enticing Kenyans with job proposals but actually sending them to combat in Ukraine.

Kateryna Stepanenko, a research fellow at the Institute for the Study of War, informed the BBC that some municipal and regional officials in Russia have been providing cash incentives up to $4,000 (£2,970) to individuals such as HR specialists and local citizens who recruit Russians or foreigners into military service.

She explains that initially, the Kremlin relied on larger entities like the Wagner private military group and the prison system for recruitment, but since 2024 has also been “utilizing locals and smaller companies”.

This “indicates to me that prior recruitment methods are no longer generating the same volume of recruits,” she adds.

Meanwhile, Habib has returned to Syria after claiming he bribed multiple commanders to terminate his engagement. Omar ultimately acquired Russian citizenship and has also managed to get back to Syria. Two of the Syrians he served alongside have died, as per their families.

Azarnykh “views us as mere numbers or revenue – she doesn’t see us as human beings,” he states. “We won’t forgive her for what she did to us.”

Additional reporting by Olga Ivshina, Gehad Abbas, Ali Ibrahim, Victoria Arakelyan, and Rayan Maarouf

January 12, 2026 0 comments
0 FacebookTwitterPinterestEmail
You can now book a hotel room on the Moon for $250,000.
Tech/AI

You can now book a hotel room on the Moon for $250,000.

by admin January 12, 2026
written by admin

GRU Space, a company, has publicly unveiled plans to build a series of progressively advanced habitats on the Moon, culminating in a hotel modeled after San Francisco’s Palace of the Fine Arts.

On Monday the company began taking reservations, asking prospective occupants to put down a deposit between $250,000 and $1 million, which could secure them a place on one of its early lunar surface missions in as little as six years.

It sounds outlandish, doesn’t it? By late December, when I spoke with founder Skyler Chan, GRU Space reportedly had only one full-time employee besides Chan himself. Chan also only recently graduated from the University of California, Berkeley.

That could make the whole endeavor easy to dismiss as a whim. I’ll admit I’m fond of these kinds of stories. Chan seems entirely sincere. And despite all the discussion about lunar resources, I believe the most reliable long-term commercial activity on the Moon will be tourism—it would be an incredible destination.

So when I interviewed Chan, I approached the conversation with an open mind.

Who will the customers be?

Like many young people, Chan dreamed of becoming an astronaut. But during high school and later in college, he came to believe he could have a greater impact by enabling everyone to travel to space rather than going himself.

“I realized I was born in an era where we can actually become interplanetary, and that is probably the single most impactful thing one person could do with their time,” Chan said. “So I set out to build the systems and technologies necessary to enable that future. That’s what led me to go to Berkeley to study electrical engineering and computer science.”

January 12, 2026 0 comments
0 FacebookTwitterPinterestEmail
Even Linus Torvalds is dabbling in vibe coding (albeit only slightly)
Tech/AI

Even Linus Torvalds is dabbling in vibe coding (albeit only slightly)

by admin January 12, 2026
written by admin

Linus Torvalds, the creator of Linux and Git, says portions of his newest project were “basically written by vibe coding,” though that shouldn’t be interpreted as him adopting that approach universally.

Torvalds occasionally tinkers with small hobby projects during holiday downtime. Last year he built guitar pedals; this year he worked on AudioNoise, which he describes as “another silly guitar-pedal-related repo.” The project generates random digital audio effects.

In the README for the repo, Torvalds disclosed he had relied on an AI coding tool:

Also note that the python visualizer tool has been pretty much produced by vibe-coding. I know more about analog filters—and that’s not saying much—than I do about python. It started as my usual “google and do the monkey-see-monkey-do” style of programming, but then I cut out the middle-man—me—and used Google Antigravity to build the audio sample visualizer.

Google’s Antigravity is a fork of the AI-focused IDE Windsurf. Torvalds didn’t specify which model he used, but using Antigravity suggests (though does not prove) it may have been some version of Google’s Gemini.

Torvalds’ earlier public remarks about using large language model-based tools for programming have been more measured than much of the online debate.

He has praised AI mainly as “a tool to help maintain code, including automated patch checking and code review,” citing examples of tools that found problems he had missed.

Conversely, he has said he is “much less interested in AI for writing code,” and has emphasized that while he’s not anti-AI in principle, he is very much against the hype surrounding it.

January 12, 2026 0 comments
0 FacebookTwitterPinterestEmail
Fired Rockstar employees' request for temporary compensation rejected
Tech/AI

Fired Rockstar employees’ request for temporary compensation rejected

by admin January 12, 2026
written by admin

  • Entertainment

Last year, employees were let go in what a trade union termed as ‘union busting.’ Rockstar alleges they were leaking sensitive information.

The employees were let go last year in a move that a trade union called ‘union busting.’ Rockstar claims they were leaking information.

Jan 12, 2026, 10:25 PM UTC
Jason_Duval_02
Jason_Duval_02
Jay Peters
Jay Peters works as a senior reporter focusing on technology, gaming, and related areas. He started at The Verge in 2019 after almost two years at Techmeme.

A tribunal in the UK dismissed a plea from sacked Rockstar Games staff for temporary payment while awaiting the full hearing regarding their termination, as reported by Bloomberg and IGN. Following Rockstar’s dismissal of 34 employees last year — 31 based in the UK and three in Canada — the Independent Workers’ Union of Great Britain (IWGB) accused the firm of “union busting.” Rockstar asserts that the terminated employees were disclosing confidential company data in a Discord group.

The hearing spanned two days last week. “While we were denied interim relief, we left last week’s hearing with greater assurance that a comprehensive tribunal will show Rockstar’s deliberate effort to dismantle a union as not just unfair but illegal,” stated IWGB president Alex Marshall in a declaration. “The mere fact that we were able to have this hearing reflects the strength of our argument and, during the two-day session, Rockstar consistently fell short of substantiating statements made in the media or to counter the notion that they acted unfairly, with malice, and disregarded their own procedures.”

“We regret that dismissals were necessary, but we uphold our actions as justified by the results of this hearing,” stated a spokesperson for Rockstar Games while responding to Bloomberg and IGN. Rockstar and its parent company Take-Two did not provide an immediate response to a request for comments.

Rockstar is currently in development on Grand Theft Auto VI, which has recently been postponed from a scheduled May release to November 19th.

Follow topics and authors from this article to see more similar content in your personalized homepage feed and to receive email notifications.

  • Jay Peters
  • Entertainment

Most Popular

January 12, 2026 0 comments
0 FacebookTwitterPinterestEmail
Framework increases desktop PC costs as RAM scarcity continues.
Tech/AI

Framework increases desktop PC costs as RAM scarcity continues.

by admin January 12, 2026
written by admin

The Framework Desktop PC now has a starting price of $1,139.

The Framework Desktop PC now has a starting price of $1,139.

Jan 12, 2026, 10:25 PM UTC
257878_Framework_Desktop_mini_PC_review_ADiBenedetto_0001
257878_Framework_Desktop_mini_PC_review_ADiBenedetto_0001
Emma Roth
Emma Roth is a news writer covering the streaming wars, consumer technology, cryptocurrency, social media, and much more. Before this, she served as a writer and editor at MUO.

Only weeks after increasing the cost of its RAM modules, Framework has revealed that it is also raising the price of its desktop PC due to the ongoing global memory shortage. The Framework Desktop with 32GB of RAM and an AMD Ryzen AI Max 385 chip now costs $1,139, up from $1,099.

“We delayed this as long as we could, but we needed to revise our Framework Desktop pricing today to reflect the significant rise in LPDDR5x costs from our suppliers,” Framework mentioned in a post on X. “As before, we’re only adjusting prices to cover the cost increases.”

Framework Desktops with larger RAM configurations and a Ryzen AI Max Plus 395 chip have also seen their prices rise, with the 64GB variant increasing from $1,599 to $1,639, while the 128GB option has gone from $1,999 to $2,459. In December, Framework did not rule out possible future hikes, stating “it is very likely we’ll need to modify module prices again in the coming month.”

As AI companies continue to purchase vast quantities of RAM, manufacturers in the tech sector are facing a significant memory shortage that analysts forecast could extend into 2027. In addition to Framework, Raspberry Pi has raised the prices of its single-board computers, while Dell, HP, Xiaomi, Acer, and Asus have all cautioned about upcoming price increases.

Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.

  • Emma Roth
Dominic PrestonDec 29, 2025
Emma RothDec 26, 2025
Terrence O’BrienDec 20, 2025

Most Popular

January 12, 2026 0 comments
0 FacebookTwitterPinterestEmail
Trump's proposal for capping credit card interest rates faces an uncertain trajectory, with 'catastrophic' dangers, according to bank insiders.
Economy

Trump’s proposal for capping credit card interest rates faces an uncertain trajectory, with ‘catastrophic’ dangers, according to bank insiders.

by admin January 12, 2026
written by admin

In this article

  • COF
  • AXP
  • V
  • MA
  • BAC
  • JPM
  • C
  • WFC
Follow your favorite stocksCREATE FREE ACCOUNT

Bank leaders were thrown into turmoil over the weekend following President Donald Trump‘s announcement late Friday that U.S. credit card firms would face a 10% limit on the interest they are allowed to charge clients.

This change caused stock prices of major banks, including Citigroup, JPMorgan Chase, Wells Fargo and Bank of America to decrease between 1% and 3% on Monday. Companies that are more closely tied to the card sector, such as Visa, Mastercard and American Express also saw declines. Capital One, with a loan portfolio heavily reliant on credit cards, dropped almost 7%.

Trump suggested a one-year interest rate cap starting January 20. While how this would be implemented remains uncertain, the industry has a clear stance: the proposal could lead to unforeseen repercussions for consumers and the U.S. economy.

The proposal could render vast sections of the credit card market unprofitable, especially for clients with less-than-ideal credit histories, as noted by banks and analysts. The national average credit card rate currently stands at 19.7%, according to a recent Bankrate.com survey, with rates for subprime borrowers and retailer-specific cards reaching even greater levels.

To avoid offering unprofitable products, the industry might choose to halt access for customers with subprime credit ratings, alongside other significant modifications to card services, including scaling back rewards, insiders report. Consumers would either reduce their spending or turn to alternative forms of unsecured loans, many of which have even steeper interest rates than credit cards, they assert.

“We cannot provide products at a loss; there’s no situation in which we would maintain our entire portfolio at 10%,” commented an individual familiar with a major bank’s operations, who requested anonymity for candidness. “It’s not unrealistic to claim this could swiftly damage the economy.”

The economic impact from reduced spending could be particularly pronounced for airlines, retailers, and dining establishments, which would need to compensate for decreased card income by “potentially increasing their prices” for services, said KBW analysts led by Sanjay Sakhrani and Chris McGratty in a January 11 research note.

The industry’s associations released a unified statement late Friday outlining their position.

“Data indicates that a 10% interest rate limit would hinder credit accessibility and be catastrophic for the millions of American families and small business owners who depend on and appreciate their credit cards, the very individuals this proposal aims to support,” stated the trade groups.

(L-R) Wells Fargo CEO and President Charles Scharf, Brian Bank of America Chairman and CEO Thomas Moynihan, JPMorgan Chase Chairman and CEO Jamie Dimon, Citigroup CEO Jane Fraser, State Street CEO Ronald O’Hanley, BNY Mellon CEO Robin Vince, Goldman Sachs CEO David Solomon and Morgan Stanley CEO James Gorman, testify during a Senate Banking, Housing, and Urban Affairs committee oversight hearing regarding Wall Street on Capitol Hill in Washington, DC, December 6, 2023.
Saul Loeb | AFP | Getty Images

‘Opening bid?’

This is not the first occasion the industry has faced potential price controls. Last year, a bill was presented by Sen. Josh Hawley of Missouri and Sen. Bernie Sanders of Vermont that sought to limit card APRs to 10% for five years.

While that legislation remains stalled in Congress, a report released Monday by the Electronic Payments Coalition assessed the consequences of a 10% cap, concluding that nearly 90% of current users, or 175 million Americans, would find their accounts closed. Most accounts with credit scores under 740 would be closed, the report indicated.

Further complicating the situation, bankers are unclear about how Trump’s interest rate cap would be implemented.

The clearest route, through congressional legislation, is not feasible by the anticipated January 20 implementation date, said Tobin Marcus, head of U.S. policy at Wolfe Research.

Other possibilities for enforcement, such as through banking regulators including the Consumer Financial Protection Bureau, could also be explored. However, the Trump administration has consistently aimed to close down that agency, and the industry has been successful in overturning CFPB regulations in federal courts.

“I’m unaware of any authority they can utilize to execute this unilaterally in any sweeping capacity,” Marcus stated. “From my perspective, giving them a deadline of January 20 seems like a tactic to apply pressure and encourage voluntary compliance.”

Although the specific method Trump might employ to enforce an interest rate cap is still ambiguous, card issuers are now confronted with the risk of facing lower rates in a potential negotiated settlement with the government, KBW’s McGratty noted in an interview.

“Is 10% a starting point?” he queried. “There’s a significant gap between 10% and the rates companies currently charge.”

As of the third quarter of last year, Americans collectively held $1.23 trillion in credit card debt, based on data from the Federal Reserve Bank of New York. Balances have been rising as many Americans deplete the savings accumulated during the global coronavirus pandemic.

Correction: This article has been revised to rectify the spelling of Capital One.

January 12, 2026 0 comments
0 FacebookTwitterPinterestEmail
CES demonstrated to me the reasons behind the optimism of Chinese tech firms.
Tech/AI

CES demonstrated to me the reasons behind the optimism of Chinese tech firms.

by admin January 12, 2026
written by admin

This article was first published in The Algorithm, our weekly newsletter focused on AI. To receive stories like this directly in your inbox, sign up here.

I made the decision to attend CES quite spontaneously. During the holiday season, I received numerous messages from contacts in China about their travel arrangements. After the umpteenth inquiry of “Are we meeting in Vegas?” I finally said yes. As a tech writer covering China and based in the US, I have one week each year where my entire field of interest converges without the need for a 20-hour flight.

CES, or the Consumer Electronics Show, is the largest technology expo in the world, where firms unveil new devices and share innovations, taking place every January. This year’s event drew over 148,000 participants and more than 4,100 exhibitors. It spans the Las Vegas Convention Center, the largest exhibition venue in the city, and extends into neighboring hotels. 

China has consistently had a presence at CES, but this year, it made a significant impact. Chinese exhibitors made up almost a quarter of the total companies present, and in sectors like AI hardware and robotics, China’s representation felt particularly strong. On the exhibition floor, I observed numerous Chinese industry representatives milling about, along with a notable contingent of Chinese venture capitalists. Several seasoned CES attendees mentioned this is the first post-covid CES where China’s presence is unmistakable. While the previous year might have been leaning in that direction as well, many Chinese participants reportedly faced visa rejections. Now, AI serves as the universal rationale and motivation for the trip.

As anticipated, AI emerged as the dominant theme this year, evident on every booth wall. It’s the primary topic of conversation and also a highly perplexing marketing ploy. “We integrated AI” is plastered on everything from the sensible (PCs, phones, TVs, security systems) to the absurd (slippers, hairdryers, bed frames). 

Consumer AI devices still seem to be in their infancy and vary greatly in quality. The most prevalent categories are educational tools and emotional support toys—which, as I’ve mentioned lately, are all the rage in China. Some standouts include: Luka AI, which produces a robotic panda that scurries around and watches over your baby. Fuzozo, a cute keychain-sized AI robot, functions as a digital pet in a tangible form. It is equipped with a built-in personality and responds to how you interact with it. The companies behind these products merely hope you won’t dwell on the privacy issues involved.

Investor Ian Goh from 01.VC stated that China’s manufacturing prowess provides it with a distinctive advantage in AI consumer electronics, as many Western companies feel they simply cannot compete in the hardware domain. 

Another field where Chinese firms appear to lead is in household electronics. The products they create are becoming increasingly advanced. Home robots, 360-degree cameras, security systems, drones, lawn maintenance machines, pool heating systems … Were you aware that two Chinese brands essentially control the home cleaning robot market in the US, significantly outpacing Dyson and Shark? Did you know that nearly all the suburban yard technology available in the West originates from Shenzhen, despite the fact that such a backyard-centric lifestyle is hardly present in China? This technology is so polished that you wouldn’t recognize it as Chinese unless you actively sought it out. The old stereotype of being “cheap and repetitive” doesn’t capture what I witnessed. I left CES feeling the need for a significant upgrade in my home appliances.

Of course, appliances represent a secure, established market. On the more interactive side, humanoid robots attracted massive crowds, and Chinese firms put on quite a display. Every robot seemed to be dancing, showcasing styles from Michael Jackson to K-pop to traditional lion dancing, some even executing backflips. Unitree, based in Hangzhou, even created a boxing ring where visitors could “challenge” its robots. These robot contenders were about half the size of an adult human and the matches frequently concluded with a robot being knocked out, but that wasn’t really the main focus. What Unitree was genuinely demonstrating was its robots’ stability and balance: they were pushed, stumbled across the ring, and managed to remain standing, recovering mid-action. In addition to demonstrating dynamic movements like these, there were also impressive displays of finesse: Robots were seen folding paper pinwheels, doing laundry, playing the piano, and even crafting latte art.

Attendees take photos of the UniTree autonomous robot which is posing with its boxing gloves and headgear

CAL SPORT MEDIA VIA AP IMAGES

However, the majority of these robots, even the more advanced ones, tend to be specialized. They are tailored for a specific function on the exhibit floor. I attempted to get one to fold a T-shirt after I had flipped the article around, and it quickly became bewildered. 

Still, they’re generating considerable excitement as a  promising next frontier since they could facilitate moving AI from text interfaces into the tangible world. As LLMs evolve, vision-language models seem to be the logical subsequent phase. But then you face the significant issue: There is significantly less data from the physical world compared to text data to train AI models. Humanoid robots serve as both applications and mobile data-gathering devices. China is uniquely placed here due to its supply chains, manufacturing capabilities, and benefits from related industries (such as EVs, batteries, motors, sensors), and it is already forming an industry focused on training humanoid robots, as reported by Rest of World recently. 

Many Chinese firms believe that the ability to manufacture at scale enables innovation, and they are not mistaken. Much of the confidence in China’s fledgling humanoid robot sector and further advancements rests less on a singular breakthrough and more on the notion of “We can iterate faster than the West.”

Chinese companies are not merely offering gadgets, though—they’re developing every layer of the technology stack. This includes not just end products but also frameworks, tools, IoT enablement, spatial data. The culture of open-source seems deeply rooted; engineers from Hangzhou inform me that AI hackathons occur weekly in the city, which is home to China’s new “little Silicon Valley.”

In fact, the headline innovations at CES 2026 were not centered on devices but rather in cloud technology: platforms, ecosystems, enterprise implementations, and “hybrid AI” (cloud + on-device) solutions. Lenovo hosted the most talked-about main-stage events this year, and while there were PCs, the main narrative focused on its cross-device AI agent system, Qira, along with a collaborative offering with Nvidia targeting AI cloud service providers. Nvidia’s CEO, Jensen Huang, introduced Vera Rubin, a new data center platform, asserting it would  significantly reduce costs related to AI training and operation. AMD’s CEO, Lisa Su, presented Helios, another data center system designed to handle large AI workloads. These innovations highlight the expansion of AI computational demands in data centers, pointing to the true competition of making cloud services affordable and efficient enough to keep pace.

As I engaged with attendees linked to China, the overall sentiment I perceived was one of cautious optimism. At a gathering I attended, VCs and founders from China mingled seamlessly with Bay Area transplants. Everyone was in the process of building something. Almost nobody aims to merely profit from Chinese consumers anymore. The new norm is: Build in China, market to the world, and consider the US market as the testing ground.

January 12, 2026 0 comments
0 FacebookTwitterPinterestEmail
The Download: unveiling this year's 10 Groundbreaking Technologies
Tech/AI

The Download: unveiling this year’s 10 Groundbreaking Technologies

by admin January 12, 2026
written by admin

Here is the current version of The Download, our weekday newsletter delivering a daily update on the happenings in the tech world.

Presenting this year’s 10 Breakthrough Technologies 

It’s hard not to be skeptical about technology nowadays. Many of the so-called “disruptions” over the past 15 years were more about pampering a select group of wealthy young individuals in San Francisco than making meaningful improvements to society. However, one can understand the backlash against tech while still embracing the belief that technology has the potential to be positive.

We have the capability to create tools that render this planet healthier, more livable, fairer, and ultimately better. And there are individuals actively doing just that, advancing progress in several essential, potentially transformative technologies.

These are precisely the technologies we intend to highlight in our yearly 10 Breakthrough Technologies list. These are 10 innovations that we think are set to significantly change the world, and they’re a topic of intense discussion among our newsroom for months prior to their announcement. So, without further delay… Here is the complete list.

Do you feel we’ve overlooked anything? You have until April to vote for the 11th breakthrough!

Reasons why certain “breakthrough” technologies fail 

—Fabio Duarte serves as associate director and principal research scientist at the MIT Senseable City Lab.

Today marks the 25th year that the MIT Technology Review newsroom has assembled its annual 10 Breakthrough Technologies list, which signifies that its reporters and editors have now recognized 250 technologies as breakthroughs.

A few years back, the editor at large, David Rotman, reviewed the original list from the publication, discovering that while all the technologies remained pertinent, each had progressed and evolved in often unexpected manners. I guide students through a similar evaluation in a graduate course I teach with James Scott for MIT’s School of Architecture and Planning, questioning them on what insights we can glean from the setbacks.

Though less glamorous than imagining which advancements will shape our future, scrutinizing unsuccessful technologies is equally crucial. Discover why.

Highlights to read

I’ve scoured the web to bring you today’s most entertaining/critical/harrowing/intriguing technology stories.

1 Iran has nearly entirely cut off its internet access 
Which complicates the world’s ability to observe its government executing civilians. (AP)
+ The shutdown is chillingly effective and expected to endure. (The Guardian)
+ President Trump is contemplating military actions against Iran. (NYT $)

2 ICE is acquiring potent new monitoring tools
It has bought equipment that enables it to trace individuals throughout entire neighborhoods. (404 Media $)
+ The ICE incident underscores why reality still holds significance.(The Verge $)
+ It’s time for Apple to restore ICEBlock. (Engadget) 

3 Malaysia and Indonesia have prohibited access to Grok 
They are the pioneers worldwide in banning the AI tool that is being used to generate explicit non-consensual deepfakes. (BBC)
+ How Elon Musk’s platform unleashed a flood of misuse against women and girls.(The Guardian)

4 Silicon Valley’s wealthy elite are in a panic over a suggested 5% wealth tax
Oh, poor them. (Wired $)

5 Meta has struck a deal with three nuclear energy companies
It’s increasingly becoming a preferred energy source for tech firms as their AI ambitions expand. (TechCrunch)
+ Can nuclear energy truly power the ascent of AI? (MIT Technology Review)

6 AI is experiencing a memorization issue 
The fact that it replicates copyrighted material indicates it may not function as its creators claim. (The Atlantic $)
+ DeepSeek is on the verge of launching a new leading AI model.(The Information $)

7 Here are the items from CES worth considering purchasing 
It’s always somewhat of a gimmick showcase—but these products made their way onto journalists’ wishlists. (The Verge $)
+ Conversely, you definitely should not buy anything from the ‘worst in show’ list. (The Register)

8 How WhatsApp conquered the globe 🌍
It boasts over three billion users every month—nearly half of the world’s population. (New Yorker $)

9 AI-generated music is here to stay
Whether you love it or loathe it, it will only take on a larger role moving forward. (Vox)
+ It’s complicating our understanding of authorship and creativity in the process. (MIT Technology Review)

10 We’re yearning for improved online experiences
The challenge is: who will deliver them to us? (WP $)

Quote of the day

“Conditions here are extremely poor. Numerous friends of ours have died. They were shooting live rounds. It’s like a battleground, the streets are covered in blood. They are transporting bodies in trucks.”

—An unnamed source in Iran’s capital Tehran describes to the BBC how the government is harshly repressing protests. 

Another note

This startup is on the verge of executing the largest real-world test of aluminum as a zero-carbon fuel

Found Energy intends to harness the energy from aluminum metal scraps to drive industrial processes without relying on fossil fuels. Since 2022, the company has been focused on developing methods to swiftly release energy from aluminum on a smaller scale. 

Now it has activated a far larger version of its aluminum-powered engine, which it claims is the biggest aluminum-water reactor ever constructed. Soon, it will be installed to provide heat and hydrogen to a tool manufacturing plant in the southeastern US, utilizing the aluminum waste generated by the facility itself as its fuel.

If all goes according to plan, this technology, which employs a catalyst to unlock the energy contained within aluminum metal, could convert a significant amount of aluminum scrap into a zero-carbon fuel. Explore the complete story.

—James Dinneen

We can still enjoy nice things

A place for comfort, enjoyment, and escapism to brighten your day. (Have any suggestions? Send me a message or share them with me.)

+ I found this uplifting story of love across generations ❤️ 
+ It appears you can make an egg in an air fryer. The burning question is—should you?
+ Naturally, Japan has a real-life Pokémon Fossil Museum.
+ If you haven’t yet, make 2026 the year you embrace a hobby. It will surely enrich your life.

January 12, 2026 0 comments
0 FacebookTwitterPinterestEmail
Newer Posts
Older Posts

Recent Comments

No comments to show.

Follow Us

Recent Posts

  • Orsted rises 6% following a U.S. judge’s decision that allows the company to continue its wind project that was stopped by Trump.

    January 13, 2026
  • Trump informed about military and secret strategies for Iran, sources indicate

    January 13, 2026
  • ‘We were deceived’: How a woman entices foreign men to battle on Russia’s front line

    January 12, 2026
  • You can now book a hotel room on the Moon for $250,000.

    January 12, 2026
  • Even Linus Torvalds is dabbling in vibe coding (albeit only slightly)

    January 12, 2026

Newsletter

Join the BusinessStory newsletter for fresh insights, market analysis, and new stories!

Categories

  • Business (13)
  • Economy (200)
  • Global (219)
  • Investing (8)
  • Lifestyle (51)
  • Tech/AI (566)
  • Uncategorized (7)

Our Company

We’re dedicated to telling true stories from all around the world.

  • 111 Wellesley St W, Toronto
  • Phone: (686) 587 6876
  • Email: [email protected]
  • Support: [email protected]

About Links

  • About Us
  • Contact
  • Advertise With Us
  • Media Relations
  • Corporate Information
  • Compliance
  • Apps & Products

Useful Links

  • Privacy Policy
  • Terms of Use
  • Closed Captioning Policy
  • Accessibility Statement
  • Personal Information
  • Data Tracking
  • Register New Account

Newsletter

Join the BusinessStory newsletter for fresh insights, market analysis, and new stories!

Latest Posts

Even Linus Torvalds is dabbling in vibe coding (albeit only slightly)
Fired Rockstar employees’ request for temporary compensation rejected
Framework increases desktop PC costs as RAM scarcity continues.
Trump’s proposal for capping credit card interest rates faces an uncertain trajectory, with ‘catastrophic’ dangers, according to bank insiders.

@2025 – All Right Reserved. Designed and Developed by BusinessStory.org

Facebook Twitter Instagram Linkedin Youtube Email
  • Home
  • Investing
  • Global
  • Business
  • Economy
  • Tech/AI
  • Lifestyle
  • About Us
  • Contact