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If you’ve been following the stock market in recent days you may already be familiar with SoftBank, a multinational internet services and investment firm operating out of Japan. The business has received a ton of press since Monday morning after CEO Masayoshi Son announced a proposed $100 billion in investments over the next four calendar years. This plan, which was developed in collaboration with the incoming Trump administration , is projected to create 100,000 new jobs within the United States, particularly in artificial intelligence and similar internet-based infrastructure. Per the Wall Street Journal , SoftBank’s stock (SFTBY) received a massive bump in the day following the announcement, accounting for a 4.4 percent rise in the Japanese market and a 1.3 percent rise on the New York Stock Exchange . To better understand exactly what this means for our country, infrastructure and the stock market of today, we’ll have to take a moment to examine SoftBank’s business model and...
Kamala Harris’ presidential campaign made significant payments to the production companies of Oprah Winfrey and Beyoncé. Campaign finance records from the Federal Election Commission show that Parkwood Production Media LLC, Beyoncé’s production company, received $165,000 on Nov. 19, 2024, according to USA Today. The payment arrived roughly a month after the singer appeared alongside Harris at a campaign event in Houston, TX, her hometown. While Beyoncé did not perform at the Oct. 25, 2024, event at Shell Energy Stadium, she and her Destiny’s Child groupmate Kelly Rowland publicly endorsed Harris in front of the roughly 30,000 attendees. The event focused on reproductive rights , a key issue Harris emphasized on the campaign trail. On Oct. 15, 2024, Harris’ campaign also paid $1 million — split into two $500,000 payments — to Harpo Productions, Winfrey’s media company, USA Today reports. Winfrey explained that the money was for Harpo’s work producing Harris’ “Unite for America”...
His inauguration is still weeks away, but since championing the 2024 election , Donald Trump has been making his presence felt across America. The East Coast native has big plans to implement changes across the nation, from teaming up with Robert F. Kennedy on health initiatives to making cryptocurrency more accessible. On Monday, Nov. 18, it was revealed that Trump Media & Technology Group (DJT) is in “advanced talks” to acquire Bakkt (BKKT), a well-established crypto exchange company not long after the president-elect launched his World Liberty Financial initiative. The former is majority-owned by NYSE parent company Intercontinental Exchange (ICE) which is led by CEO Jeff Sprecher, husband of former Georgia Senator Kelly Loeffler, who was also co-chair of Trump’s inaugural committee . Neither Bakkt nor its future potential owners have confirmed the Financial Times ‘ reports just yet, but there have been notable jumps in both stocks since the rumor mill began turning this week....
Interest rates have been cut once again by the Federal Reserve. According to CNBC, the Board of Governors of the Federal Reserve System voted to lower interest rates to a range between 4.5% to 4.75%. It had previously lowered rates in March 2024, which had been the first time since 2020, as AFROTECH™ previously reported. While this may seem like a hopeful sign, Federal Reserve Chair Jerome Powell shared mixed views about the economy. CNBC mentions Powell expressed “feeling good” about the economy, but also shared the following remarks during a press conference on Thursday, Nov. 7. “The federal government’s fiscal path, fiscal policy, is on an unsustainable path,” Powell said. “The level of our debt relative to the economy is not unsuitable, the path is unsustainable. And we see that in a very large deficit, you’re at full employment [and] that’s expected to continue, so it’s important that be dealt with. It is ultimately a threat to the economy.” Other economists are weighing in on...
With the 2024 presidential election right around the corner, we are going to take a look at how the two candidates take drastically different stances on tech. Both Vice President Kamala Harris and former President Donald Trump have supported policies that would impact how the tech industry can or cannot do business for years to come. Kamala Harris’ Impact On The Tech Industry During her time as vice president of the United States, Harris backed three key pieces of legislation that have impacted the tech industry. They are the Bipartisan Infrastructure Bill, the Inflation Reduction Act, and the CHIPS and Science Act. All of these acts were meant to spur different forms of economic growth here in the United States and bolster our own productivity vs. relying on foreign powers. The Bipartisan Infrastructure Bill in 2021 invested money into two categories of interest to founders and investors: energy and climate. In energy, some of the more notable companies would be the larger...
The world is waiting on you to get it done, Joe! A recurring question for current President Joe Biden is when he plans to fulfill his promises of forgiving the student debt impacting thousands of Americans. That question might have been answered according to reports from Complex that a host of borrowers could be eligible for a new program that would significantly slash or eliminate the debt. The move is possible through the Public Service Loan Forgiveness (PSLF) program which was launched 15 years ago to help borrowers working in public servant-facing positions which include education, health care, emergency services, and others. Eligible borrowers will be credited for up to 10 years of monthly payments.
Bye Trump! CNN reports that Facebook has altered its rules to give former President Donald Trump the boot from its platform until January 7, 2023. The date will mark two years since he was initially suspended following the attacks at the nation’s Capitol building. From there, Facebook says that it will assess the circumstances to see if he should even be allowed back onto the social media platform. This move seals the deal that would prevent Trump from posting from his Facebook account which had tens of millions of followers and just ahead of the 2022 midterm election. However, the announcement leaves a window of opportunity open for the possibility of the suspension being lifted ahead of the 2024 presidential election. In a post on Friday (June 4), Facebook’s vice president for global affairs, Nick Clegg, said that once the two-year period is up, the social media platform “will look to experts to assess whether the risk to public safety has receded. We will evaluate external...
In the weeks leading up to Donald Trump’s campaign rally in Tulsa, Oklahoma, the president received backlash for wanting to host his first rally of the year on Juneteenth in the city that was once home to Black Wall Street. He pushed the rally to June 20th, but that was not good enough for those who did not want the streets of Tulsa overthrown by his racist followers. On June 15, Donald Trump took to Twitter to announce that nearly one million MAGA supporters would be attending his campaign rally in downtown Tulsa. https://twitter.com/realDonaldTrump/status/1272521253136498690?s=20 “Almost One Million people request tickets for the Saturday Night Rally in Tulsa, Oklahoma,” he tweeted. At every turn, he made it a point to brag about the huge attendance at his upcoming rally. Compilation of people bragging about a million people signing up for the rally pic.twitter.com/X9EHPSvv8Z — Acyn (@Acyn) June 21, 2020 In anticipation of such a large turnout, the BOK Center, which only has a...
Although the 2020 election is nearly one year away, BET founder Robert L. Johnson has already predicted the outcome. In a recent CNBC interview, the billionaire entrepreneur and philanthropist projected President Donald Trump’s win based on the President’s strategic ability to turn the tide of news cycles and to make himself the lead story . In the past, Johnson has also touted the President’s economic success. In July, Johnson discussed the upward economic trend with CNBC, indicating record lows of black unemployment . More recently, in an interview with CNBC’s “Squawk Box,” Johnson spoke about his ability to speak with President about various issues, aiming to give credit where credit is due, “ …when I see a president doing positive things, particularly for African Americans. ” When asked if a particular 2020 presidential candidate had clenched his vote, Johnson clarified, “ I don’t think it’s fundamentally in the best interests of African Americans to be locked up in one party. ”
President Donald Trump generally isn’t too fond of social media –even though he uses it more than any president we’ve had — often accusing platforms of harboring biases against conservatives. However, there’s one site that Trump seems to like, Reddit. This may be due to the subreddit, r/The_Donald, which has not only been referenced by Trump himself but by his team as well. Brad Parscale, Trump’s campaign manager, even revealed that he would visit it daily back in 2016 . Trump also hosted an open interview on the forum that same year. However, the subreddit was placed under quarantine on Wednesday, due to repeated “misbehavior,” which included inciting violence. The decision was made only two days after Media Matters for America reported that r/The_Donald forum members had issued calls for violence. This came after Oregon’s governor told law enforcement to bring back Republican state senators who fled the state so a climate change bill wouldn’t pass. It’s important to note that...
Last year, the European Union’s General Data Protection Regulation officially went into effect after a two-year transition period. The regulations make up some of the strictest data laws in the world. So, it’s no surprise that the EU has placed tech companies under increased scrutiny. Tech giants like Google have received multiple fines from the EU for antitrust behavior. Now that seems to be rubbing President Trump the wrong way, but not because he doesn’t think the fines shouldn’t be happening. In an interview with CNBC on Monday , Trump said: “Every week you see them going after Facebook and Apple and all of these companies … The European Union is suing them all of the time. Well, we should be doing this. They’re our companies. So, [the EU is] actually attacking our companies, but we should be doing what they’re doing. They think there’s a monopoly, but I’m not sure that they think that. They just think this is easy money.” Trump calls for the federal govt to sue tech & social...
Sometimes, public figures — like President Donald Trump — pop up with such loud and wrong tweets, you wonder how the they remained up. Usually, it’s due to Twitter’s newsworthiness clause, which hesitates to remove tweets if they’re in the public interest. Now, Twitter is looking to add a feature that identifies tweets by public figures tweets that violate its rules. This was confirmed during an interview at a Washington-Post sponsored event where Twitter’s head of legal, policy, and trust, Vijaya Gadde, acknowledged that leaving tweets up opens up some problems. “Today when we leave that content on the platform there’s no context around that,” Gadde said. “It just lives on Twitter and people can see it and they just assume that that’s the type of content or behavior that’s allowed by our rules.” Twitter’s public interest clause has been controversial because some see it as giving public figures’ immunity. In reply to one Twitter user, CEO Jack Dorsey explained that it “doesn’t...
The United States fell behind when 18 countries around the world launched programs to stimulate AI development. Now, President Trump is expected to sign an executive order launching the American Artificial Intelligence (AI) Initiative. A senior administration official reportedly told CNN that the initiative outlines “bold, decisive actions to ensure that AI continues to be fueled by American ingenuity, reflects American values and is applied for the benefit of the American people.” Goals of the AI initiative will be split into the following 5 areas, as reported by multiple different outlets: Research and Development, Resources, Ethical Standards, Automation, and International Outreach. America is still the world’s leader in AI research, but recent investments in the technology from China, France, and South Korea is what’s more than likely fueling this new order from the president. “This executive order is about ensuring continued America leadership in AI, which includes ensuring AI...