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Jeff Bezos loses $21 billion amid Amazons AI investment plans

Jeff Bezos’ wealth dropped by over $21 billion after Amazon announced substantial AI investments at the expense of short-term profits. Amazon shares fell 13%, reducing his net worth to $185.3 billion. This loss was second only to his $36 billion drop in 2019. Bezos, who sold $8.5 billion in shares in February, planned to sell an additional 25 million shares.

 

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China recently unveiled an ambitious plan to significantly reduce its emissions by the end of the decade. This initiative includes setting quotas for key polluting industries and introducing ‘carbon label certification’ for products, aimed at accelerating the “dual control of carbon emissions.” The dual control approach involves oversight of both total carbon emissions and emission intensity, which measures greenhouse gas emissions per unit of GDP.

During the next five-year plan period from 2026 to 2030, China aims to incorporate carbon emission indicators, budgets, and forecasts into its economic plans. These will be applied across provinces and industries that are major pollution sources. By 2030, China has committed to peak carbon emissions, demonstrating a significant move towards a sustainable future.

A crucial element of this plan involves establishing comprehensive carbon accounting standards. This includes evaluating the carbon footprint of individual products and investment projects, setting up a detailed database by 2025, and focusing on controlling emission intensity from 2026 onwards. Major industries like electricity, steel, petrochemicals, construction, and transportation will have specific quotas and will be required to perform emissions assessments.

The State Council’s plan also includes continuous emissions monitoring and early warning systems for sectors experiencing emission spikes. Furthermore, economic planners are tasked with formulating action plans for carbon peak and neutrality, implementing stringent laws for emissions control and energy savings, and developing emissions indicators for each province. These indicators will account for various factors, such as energy needs and existing carbon sinks.

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1. Trump says Mark Zuckerberg called to apologize about photo of assassination attempt  Fox News
2. Trump says Zuckerberg told him he wouldn’t endorse a Democrat  Business Insider
3. Donald Trump: Facebook CEO Mark Zuckerberg called to apologise for the ‘AI error’  The Times of India
4. Donald Trump makes major claim about Mark Zuckerberg’s 2024 election endorsement: ‘He actually apologised’  Hindustan Times
5. Trump: Mark Zuckerberg Calls Me, Says He Won’t Vote for a Democrat  PCMag
6. ‘Zuckerberg Called Me, Said He Won’t Support A Democrat’: Donald Trump  NDTV
7. Mark Zuckerberg apologised for censoring pic, said he won’t back Democrats: Trump  India Today
8. Trump says Mark Zuckerberg called to apologize about photo of assassination attempt and vowed not to endorse a Democrat  Fortune
9. Donald Trump claims Facebook CEO Mark Zuckerberg apologised, said ‘won’t support Democrat’ | Today News  Mint

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Excerpt from news.google.com

Democratic bill seeks to reverse Supreme Court ruling on federal agency power  NBC News

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Disneyland workers reach tentative deal with company, averting strike  NBC News

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On June 28, the U.S. Supreme Court overruled a 48-year-old precedent, Chevron U.S.A. v. Natural Resources Defense Council, in a 6-3 decision that made it easier to challenge rules and regulations issued by federal administrative agencies. The new ruling, Loper Bright Enterprises v. Raimondo, abolished the doctrine of “Chevron Deference,” under which federal courts were supposed to “defer” to administrative agencies’ interpretations of federal statutes on issues as to which Congress had not spoken clearly in the statutes. The new rule, under which the courts are freed of any such requirement and may freely disagree with agency interpretations, has been seized upon by numerous courts over the past few weeks in ruling against the Biden Administration’s new Title IX rules intended to protect LGBTQ people in educational institutions and for purposes of health care coverage subject to the Affordable Care Act (ACA) and the Medicare and Medicaid Acts.

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Excerpt from www.express.co.uk

Russian President Vladimir Putin has admitted that his country has “no spare money” as he continues to spend billions financing his war in Ukraine.

As quoted by TASS news agency, a Russian state news outlet, Putin said on Tuesday: “Yes, we have the budget revenues growing, and the deficit is minimal, non-oil and gas revenues have a good performance, oil and gas ones have the incremental growth but there is no spare money.

“Therefore, I very much expect that you will keep a close eye on the financial discipline.”

With Western sanctions leaving Russia economically isolated, Putin has relied on foreign cash reserves to fund his war in Ukraine.

Russia’s National Wealth Fund boasted $143billion of reserves in July 2022, but this is now down to $56 billion as of the end of 2023.

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Excerpt from www.yahoo.com

US judge will not block Biden administration ban on worker ‘noncompete’ agreements  Yahoo! Voices

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Excerpt from in.investing.com

Meta platforms CEO Zuckerberg sells over $4.4 million in stock  Investing.com India

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Excerpt from www.newsbug.info

Thousands of Boeing hourly workers voted in Seattle to authorize a potential labor strike if ongoing contract negotiations stumble, a union statement said Wednesday.

The result was generally expected but came on top of renewed scrutiny Boeing is facing after a series of troubles including a January incident in which a fuselage door plug blew out during a flight.

“We want the company to take our proposals seriously and bargain earnestly,” said Jon Holden, President of International Association of Machinists and Aerospace Workers (IAM) District 751.

The initial vote — which passed nearly unanimously — provides advance notice to the union so members receive strike benefits if they vote to strike on September 12.

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Excerpt from www.motortrend.com

Let’s take a second to talk about U.S. governmental control, and the impact that its overreach has on the automotive aftermarket, especially in the performance sector. Regardless of whether you vehemently agree or disagree with federal regulations that are imposed on hot rods and the huge network of large and small businesses that conceptualize, create, and distribute products for the vehicles we love, it’s no secret that there are instances where the Environmental Protection Agency—the perceived “almighty” since its inception in 1970—goes too far when it comes to applying its regulatory thumb on aftermarket businesses that produce parts for modifying our vehicles.

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Excerpt from www.agri-pulse.com

A South Dakota farmer seeking review of a wetlands determination may be one of the first beneficiaries of the Supreme Court’s decision overruling the 40-year-old Chevron doctrine, which required courts to defer to agency expertise when laws passed by Congress are not explicit.

He’s not the only one. Following the June 28 decision, the court granted eight other petitions and remanded those cases to lower courts, including one about a National Labor Relations Board ruling.  And in the wake of its decision in Loper Bright Enterprises v. Raimondo, a flurry of lawsuits already in the works were filed that seek to take advantage of the court’s decision.

Environmental and public health advocates warn of confusion in the federal courts – and at federal agencies – over how the limits of agency authority will be defined. They also say the new legal regime will force Congress to give agencies more specific direction in the laws it passes, a job that Congress, without the phalanx of scientists and technical experts that federal agencies have, is ill-equipped to handle. Lastly, they say the court’s decision gives judges – also not subject matter experts for every complicated case that comes before them – too much power.

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Excerpt from martech.org

U.S. Supreme Court rulings don’t often impact marketing, but a decision handed down last month likely will. Lober v. Raimondo sharply curtails the power of federal regulators — like the FTC and FCC — saying federal courts should no longer defer to them when interpreting laws.

Chief Justice John Roberts said federal judges “must exercise their independent judgment in deciding whether an agency has acted within its statutory authority.” The decision overruled the landmark 1984 decision in Chevron v. Natural Resources Defense Council, which said judges should defer to the executive branch when laws passed by Congress are ambiguous.

The new ruling increases the likelihood of people and brands winning lawsuits over regulatory decisions. And, of course, regulators created a lot of rules around advertising. Some of these are industry-specific, like disclosure requirements for the financial and pharmaceutical industries. Others are broader, like the FTC’s rulings around truth in advertising.

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Excerpt from www.msn.com

Explainer-What is Chevron deference and why did the Supreme Court overturn it?  MSN

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Excerpt from www.cnn.com

In the 48 hours before he opened fire on former President Donald Trump, 20-year-old Thomas Matthew Crooks made a series of stops in and around his suburban Pittsburgh hometown.

On Friday, he went to a shooting range where he was a member, and practiced firing, a law enforcement official told CNN. The next morning, Crooks went to a Home Depot, where he bought a five-foot ladder, and a gun store, where he purchased 50 rounds of ammunition, the official said.

Then, Crooks drove his Hyundai Sonata about an hour north, joining thousands of people from around the region who flocked to Trump’s rally in Butler, Pennsylvania. He parked the car outside the rally, with an improvised explosive device hidden in the trunk that was wired to a transmitter he carried, the official said. Then, investigators believe, he used his newly-bought ladder to scale a nearby building, and opened fire on the former president.

As investigators continue to search for a motive behind the attempted assassination, they are scrutinizing Crooks’ movements before the attack and trying to piece together a timeline of his actions leading up to it.

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Excerpt from www.news8000.com

(CNN) — A stunning scene played out at the Republican National Convention on Wednesday as a group of GOP senators chased Secret Service Director Kimberly Cheatle through the Fiserv Forum in Milwaukee, shouting that she has refused to answer questions regarding the assassination attempt on former President Donald Trump.

“This was an assassination attempt! You owe the people answers. You owe president Trump answers!” Tennessee Sen. Marsha Blackburn shouted at Cheatle, who continued to walk with her head down and ignore the senators’ criticism.

“It’s stonewalling!” Sen. John Barrasso, the No. 3 Senate Republican.

Blackburn later posted a video of the encounter to X, writing: “The American people deserve answers from the Secret Service.”

The Department of Homeland Security Office of Inspector General announced earlier Wednesday that it was investigating the circumstances surrounding Saturday’s attempted assassination, and congressional Republicans have also vowed to launch their own investigation.

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Excerpt from www.cnn.com

In the days following the assassination attempt on former President Donald Trump, the Secret Service, charged with securing the Pennsylvania event, has faced scrutiny for the extraordinary breach that led to the agency’s worst failure in decades.

But one narrative has quickly taken hold in parts of the right-wing media ecosystem: The security failure was the result of workforce diversity initiatives and women working as Secret Service agents.

While the security lapse happened outside of the event’s hard perimeter at a poorly secured building roughly 120 to 150 meters away from the stage, prominent right-wing figures have launched misogynistic attacks, blaming the female agents positioned near Trump as well as Secret Service director Kimberly Cheatle, the second woman to hold the top job and an advocate for women to join the force.