Softbank approves remaining $22.5 billion of OpenAI investment, The Information reports
SoftBank (9984.T) has approved a second installment of $22.5 billion towards its $30 billion investment in OpenAI, according to a report by The Inform...
The U.S. budget deficit reached $307 billion during President Donald Trump’s first full month in office, marking a 4% increase—an additional $11 billion—over the same period last year, according to the Treasury Department.
Record receipts bolstered the figures in February, with federal income totaling $296 billion—a 9% rise or an extra $25 billion compared with the previous year. However, government spending surged even more, with outlays reaching a record $603 billion in February, up 6% or $36 billion year over year.
After calendar adjustments for both receipts and expenditures, the adjusted deficit would have stood at $311 billion, representing a 3% increase over February 2024.
For the first five months of fiscal 2025, the overall deficit ballooned to $1.147 trillion, up 38%—or $318 billion—from a year earlier. Fiscal year-to-date receipts increased by 2%, or $37 billion, to a record $1.893 trillion, while outlays climbed 13%, or $355 billion, to a record $3.039 trillion.
Driving the spending growth were higher costs associated with Treasury’s interest on the public debt, increased outlays for Child Tax Credit payments, and elevated Social Security payments—partly due to a 2.5% cost-of-living adjustment for 2025.
The steep rise in both spending and the overall deficit highlights the fiscal challenges facing the administration as it navigates a period marked by record revenues alongside rapidly escalating expenditures.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
Malawi’s President Arthur Peter Mutharika has declared a state of emergency in 11 districts following severe drought conditions that have left millions at risk of hunger.
U.S. Secretary of State Marco Rubio said on Saturday that Washington’s sanctions against Colombian President Gustavo Petro were not intended to harm the country’s citizens or its economy.
The Trump administration has prepared a new round of sanctions targeting key sectors of Russia’s economy if President Vladimir Putin continues to delay efforts to end Moscow’s war in Ukraine, according to U.S. and diplomatic sources familiar with the matter.
Tens of thousands of people took to the streets in Valencia on Saturday, demanding the resignation of conservative regional leader Carlos Mazon over his handling of the flash floods that killed 229 people nearly a year ago.
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