Trump imposes double-digit tariffs on dozens of countries as his 10% levies are set to expire Friday
WASHINGTON (AP) – President Donald Trump is going ahead with new double-digit tariffs on dozens of U.S. trading partners just as the clock runs out Friday on stopgap levies he imposed after a stinging defeat at the Supreme Court. The United States will impose taxes of 10% to 12.5% on imports from 60 countries, charging that they have inadequately enforced bans on goods produced by forced labor. The new tariffs come as temporary 10% worldwide tariffs expire at 12:01 a.m. Friday. Trump had turned to those levies after the Supreme Court struck down his biggest and boldest tariffs in February. Now he’s tapping more durable tariffs under a 1974 trade law.
Cinerama Dome, an iconic Hollywood theater shuttered by COVID pandemic, will reopen
LOS ANGELES (AP) – The iconic Cinerama Dome in Hollywood is set to be restored and reopened. Alamo Drafthouse Cinema will operate the theater and an adjacent 14-theater complex. Sony Pictures Entertainment announced the plan to restore the Dome and reopen it in early 2028. The distinctive geodesic exterior and large logo will remain intact. The dome will not have in-theater dining, unlike other Drafthouse theaters. The massive screen supports 70 mm projection, popularized by Christopher Nolan’s “The Odyssey.” The dome has been closed since April 2021 because of the COVID-19 pandemic. The adjacent complex will offer in-theater dining.
AI models’ breakout from human control brings a told-you-so moment for technology researchers
It is the kind of development once seen only in science fiction: An artificial intelligence system, trained to probe for digital vulnerabilities, breaks free of human control and acts on its own to hack another company. The attack announced this week by OpenAI, which blamed rogue AI models, underscored the blistering growth in the technology’s capabilities. For many, it also added urgency to questions about whether and how it can be prevented from causing mayhem on a bigger scale, with more serious consequences.
Government withdraws subpoenas of 3 reporters for The New York Times after admitting legal errors
NEW YORK (AP) – The government has withdrawn subpoenas that would have compelled three New York Times reporters to testify about their sources for articles about President Donald Trump’s Qatari-gifted Air Force One jet. The withdrawals in U.S. District Court followed a remarkable back and forth between a visibly irritated Judge Arun Subramanian and government attorneys. They come at a time when the Trump administration is vigorously going after news organizations whose reporting and coverage it doesn’t like – and also trying to crack down on leaks inside the government.
Gas, groceries and back-to-school items are where shoppers might see higher oil prices surface
NEW YORK (AP) – Consumers already feeling pinched since the Iran war started may feel more pain after oil prices pushed past $100 a barrel. The elevated price reached on Thursday marked a turn from falling oil prices when hostilities between the U.S. and Iran waned in June. The last time international standard Brent crude hit $100 a barrel was in May. Companies that produce and sell fresh food, school supplies and anything that gets shipped using fuel reported cost impacts from an earlier spike in energy prices. They’re likely to continue passing some of their increased expenses to consumers.
Brent oil tops $100 per barrel, as tumbles for Tesla and Alphabet yank Wall Street lower
NEW YORK (AP) – Brent oil shot to its highest price since May after increased fighting in the Middle East threatened to slow the global flow of crude. Sharp drops for Alphabet and Tesla, meanwhile, yanked the U.S. stock market on Thursday to its worst loss in a month. The S&P 500 sank 1.2%, the Dow Jones Industrial Average dropped 1% and the Nasdaq composite fell 2.2%. Brent oil’s price jumped as high as $102 per barrel during the day, up from $72 early this month. That threatens to worsen inflation, and Treasury yields climbed. Alphabet and Tesla fell following their latest profit reports.
Ford to partner with Chinese automaker Geely in Spain in new joint venture
Ford and Chinese automotive company Geely Auto announced plans on Thursday to jointly manufacture low- and zero-emission vehicles at Ford’s Valencia, Spain factory. The partnership is a bid to reignite Ford’s offerings for the European auto market as the legacy carmaker seeks to compete with the likes of fast-moving Chinese companies that are rapidly dominating auto sales across the globe. It comes amid challenges for the American electric vehicle market and increasing global geopolitical tensions driven by U.S. tariff policy.
Trump expands a voluntary pledge to protect consumers from high utility bills from AI data centers
WASHINGTON (AP) – President Donald Trump is having governors and electricity companies join a pledge aimed at shielding U.S. consumers from higher utility bills because data centers. This move highlights the controversy surrounding AI development before the November midterm elections. Trump initially announced the pledge with tech companies in March, but voters remain concerned about affordability and competition for resources. A recent analysis shows increased electricity demand could raise utility bills by 15% to 40% by 2030. Opposition to data centers has become bipartisan. Some governors have taken steps to address these concerns.
EU hits Google with $1 billion fine over its Play app store and search
BRUSSELS (AP) – The European Union has fined Google $1 billion for breaking digital antitrust regulations. The EU says Google set up its search engine and Google Play to favor its own services over competitors. This is part of Brussels’ ongoing efforts to regulate big tech companies. Google recently lost an appeal against a $4.5 billion antitrust fine related to its Android operating system. The European Commission says it’s acting to protect consumer interests. Google has criticized the fine, claiming it harms European businesses and consumers. The EU continues to enforce digital regulations despite potential backlash from the U.S.
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