Communications

Phone Companies Failed To Warn Senators About Surveillance, Wyden Says 62

Sen. Ron Wyden (D-Ore.) revealed in a new letter to Senate colleagues Wednesday that AT&T, Verizon and T-Mobile failed to create systems for notifying senators about government surveillance on Senate-issued devices -- despite a requirement to do so. From a report: Phone service providers are contractually obligated to inform senators when a law enforcement agency requests their records, thanks to protections enacted in 2020. But in an investigation, Wyden's staff found that none of the three major carriers had created a system to send those notifications.

"My staff discovered that, alarmingly, these crucial notifications were not happening, likely in violation of the carriers' contracts with the [Senate Sergeant at Arms], leaving the Senate vulnerable to surveillance," Wyden said in the letter, obtained first by POLITICO, dated May 21. Wyden said that the companies all started providing notification after his office's investigation. But one carrier told Wyden's office it had previously turned over Senate data to law enforcement without notifying lawmakers, according to the letter.
United States

Why Does the US Always Run a Trade Deficit? (newyorkfed.org) 262

The U.S. trade deficit persists due to fundamental macroeconomic imbalances rather than just export shortfalls, according to Federal Reserve Bank of New York economist Thomas Klitgaard. His analysis shows the deficit reflects a persistent gap between domestic saving and investment spending, with the U.S. borrowing from foreign sources to fund domestic investment when savings fall short.

This macroeconomic reality means targeting specific trade categories won't resolve the overall imbalance -- even when the petroleum deficit disappeared by 2019 due to increased domestic production, the total trade deficit grew to $441 billion, consistent with a widening saving gap.

Bureau of Economic Analysis data reveals household saving has remained below pre-pandemic levels as consumers spend down accumulated savings from 2020-21, while business saving has remained relatively stable. Reducing the deficit would require significant macroeconomic adjustments, including higher domestic saving or reduced investment spending, which studies indicate would likely cause economic pain as demonstrated during the 2008 recession.
United States

Fortnite Returns To Apple US App Store After 5-Year Ban 42

Fortnite has returned to Apple's App Store in the United States after a nearly five-year absence, marking a significant victory for Epic Games in its protracted legal battle against Apple's App Store policies. The return follows an April 30 ruling where a federal judge determined Apple violated a court order requiring the company to allow greater competition for app downloads and payment methods, referring Apple to federal prosecutors for a criminal contempt investigation.

Epic CEO Tim Sweeney celebrated on X with a simple "We back fam" message. The game, which had 116 million users on Apple's platform before its 2020 removal, was banned after Epic challenged Apple's practice of charging up to 30% commission on in-app payments as anticompetitive.
Google

Google's Gemini 2.5 Models Gain "Deep Think" Reasoning (venturebeat.com) 30

Google today unveiled significant upgrades to its Gemini 2.5 AI models, introducing an experimental "Deep Think" reasoning mode for 2.5 Pro that allows the model to consider multiple hypotheses before responding. The new capability has achieved impressive results on complex benchmarks, scoring highly on the 2025 USA Mathematical Olympiad and leading on LiveCodeBench, a competition-level coding benchmark. Gemini 2.5 Pro also tops the WebDev Arena leaderboard with an ELO score of 1420.

"Based on Google's experience with AlphaGo, AI model responses improve when they're given more time to think," said Demis Hassabis, CEO of Google DeepMind. The enhanced Gemini 2.5 Flash, Google's efficiency-focused model, has improved across reasoning, multimodality, and code benchmarks while using 20-30% fewer tokens. Both models now feature native audio capabilities with support for 24+ languages, thought summaries, and "thinking budgets" that let developers control token usage. Gemini 2.5 Flash is currently available in preview with general availability expected in early June, while Deep Think remains limited to trusted testers during safety evaluations.
Education

America's College Towns Go From Boom To Bust (msn.com) 238

America's regional state universities are experiencing steep enrollment declines, triggering economic crises in the towns that depend on them, while flagship universities continue to thrive.

At Western Illinois University in Macomb, enrollment has plummeted 47% since 2010, driving the city's population down 23% to 14,765. Empty dorms have been repurposed or demolished, while local businesses struggle to survive. "It's almost like you're watching the town die," Kalib McGruder, a 28-year veteran of the campus police department, told WSJ.

An analysis of 748 public four-year institutions reveals enrollment at prestigious state universities increased 9% between 2015 and 2023, while regional state schools saw a 2% decline. The University of Tennessee Knoxville's enrollment jumped 30% as the state's regional colleges collectively fell 3%. With high school graduate numbers expected to decline starting next year after reaching a record high in 2024, the outlook for struggling college towns appears bleak.
AI

How Badly Did ChatGPT and Copilot Fail to Predict the Winners of the Kentucky Derby? (courier-journal.com) 38

In 2016, an online "swarm intelligence" platform stunned horse-racing fans by making a correct prediction for the Kentucky Derby — naming all four top finishers in order. (But the next year its predictions weren't even close, with TechRepublic suggesting 2016's race just had an unusual cluster of obvious picks.)

Since then it's become almost a tradition — asking AI to predict the winning horses each year, then see how close it came. So before today's race, a horse named "Journalism" was given the best odds of winning by professional bookmakers — but could AI make a better prediction? USA Today reports: The USA TODAY Network asked Microsoft Copilot AI to simulate the order of finish for the 2025 Kentucky Derby field based on the latest, odds, predictions and race factors on Thursday, May 1. Journalism came out on top in its projection. The AI-generated response cited Journalism's favorable post position (No. 8), which has produced the second-most Kentucky Derby winners and a four-race winning streak that includes last month's Santa Anita Derby.
ChatGPT also picked the exact same horse, according to FanDuel. But in fact, the winning horse turned out to be "Sovereignty" (a horse Copilot predicted would finish second). Meanwhile Copilot's pick for first place ("Journalism") finished in second.

But after that Copilot's picks were way off...
  • Copilot's pick for fourth place was "Sandman" — who finished in 18th place.
  • Copilot's pick for fifth place was "Burnham Square" — who finished in 11th place.
  • Copilot's pick for sixth place was "Luxor Cafe" — who finished in 10th place
  • Copilot's pick for seventh place was "Render Judgment" — who finished in 16th place...

An online racing publication also asked "a trained AI LLM tool" for their predictions, and received a wildly uneven prediction:

  1. Burnham Square (finished 11th)
  2. Journalism (finished 2nd)
  3. Sandman (finished 18th)
  4. Tiztastic (finished 15th)
  5. Baeza (finished 3rd)

Star Wars Prequels

New 'Star Wars' Movie Announced Set 5 Years After 'Rise of Skywalker' (cnn.com) 124

A new Star Wars movie — starring Ryan Gosling and directed by Shawn Levy — will be released in 2027, the two announced Friday at the "Star Wars Celebration" (a fan event in Japan). CNN reports: Set to begin production this fall, the movie will be set approximately five years after "Star Wars: Episode IX — The Rise of Skywalker," released in 2019, but will sit outside the Skywalker story as a standalone film. "The film... is an entirely new adventure featuring all-new characters set in a period of time that has not been explored on screen," said a statement from Lucasfilm, the owner of the "Star Wars" franchise...

"The script is just so good, the story, it has so much adventure, so much heart and original character. It's an opportunity to shine the light into a side of the universe that we may not have seen," Gosling said. Levy, the director of "Deadpool & Wolverine," told the crowd the film would have all the "fun of 'Star Wars'" but it would be done "in ways that are new and original...."

The next movie in the franchise, "The Mandalorian & Grogu," a spin-off of "The Mandalorian" series, directed by Jon Favreau, will hit cinemas in May 2026.

USA Today notes that more new Star Wars movies have also been announced: Daisy Ridley is set to star in a film that will see her character, Rey, building a new Jedi Order after the events of "The Rise of Skywalker." [This is sometimes referred to as "Star Wars Episode X: New Jedi Order."]

"Logan" filmmaker James Mangold has also been tapped to direct a movie about the dawn of the Jedi, and [Dave] Filoni is directing one said to "close out the interconnected stories" told in the live-action Disney+ shows like "The Mandalorian."

China

Chinese Robotaxis Have Government Black Boxes, Approach US Quality (forbes.com) 43

An anonymous reader quotes a report from Forbes: Robotaxi development is speeding at a fast pace in China, but we don't hear much about it in the USA, where the news focuses mostly on Waymo, with a bit about Zoox, Motional, May, trucking projects and other domestic players. China has 4 main players with robotaxi service, dominated by Baidu (the Chinese Google.) A recent session at last week's Ride AI conference in Los Angeles revealed some details about the different regulatory regime in China, and featured a report from a Chinese-American YouTuber who has taken on a mission to ride in the different vehicles.

Zion Maffeo, deputy general counsel for Pony.AI, provided some details on regulations in China. While Pony began with U.S. operations, its public operations are entirely in China, and it does only testing in the USA. Famously it was one of the few companies to get a California "no safety driver" test permit, but then lost it after a crash, and later regained it. Chinese authorities at many levels keep a close watch over Chinese robotaxi companies. They must get approval for all levels of operation which control where they can test and operate, and how much supervision is needed. Operation begins with testing with a safety driver behind the wheel (as almost everywhere in the world,) with eventual graduation to having the safety driver in the passenger seat but with an emergency stop. Then they move to having a supervisor in the back seat before they can test with nobody in the vehicle, usually limited to an area with simpler streets.

The big jump can then come to allow testing with nobody in the vehicle, but with full time monitoring by a remote employee who can stop the vehicle. From there they can graduate to taking passengers, and then expanding the service to more complex areas. Later they can go further, and not have full time remote monitoring, though there do need to be remote employees able to monitor and assist part time. Pony has a permit allowing it to have 3 vehicles per remote operator, and has one for 15 vehicles in process, but they declined comment on just how many vehicles they actually have per operator. Baidu also did not respond to queries on this. [...] In addition, Chinese jurisdictions require that the system in a car independently log any "interventions" by safety drivers in a sort of "black box" system. These reports are regularly given to regulators, though they are not made public. In California, companies must file an annual disengagement report, but they have considerable leeway on what they consider a disengagement so the numbers can't be readily compared. Chinese companies have no discretion on what is reported, and they may notify authorities of a specific objection if they wish to declare that an intervention logged in their black box should not be counted.
On her first trip, YouTuber Sophia Tung found Baidu's 5th generation robotaxi to offer a poor experience in ride quality, wait time, and overall service. However, during a return trip she tried Baidu's 6th generation vehicle in Wuhan and rated it as the best among Chinese robotaxis, approaching the quality of Waymo.
The Almighty Buck

America's Justice Department Shuts Down Its Cryptocurrency Fraud Unit (usatoday.com) 71

America's Justice Department "has shut down its unit that investigates cryptocurrency fraud," reports USA Today.

A Monday night memo from U.S. Deputy Attorney General Todd Blanche said the shut down was "effective immediately." Blanche directed the closure of the National Cryptocurrency Enforcement Team and ordered prosecutors to pivot to investigating transnational criminal organizations and terrorist groups that use crypto to engage in illicit transactions... In his four-page memo, Blanche said the new order was meant to bring the Justice Department in line with Trump's own Executive Order 14178, which decreed that clarity and certainty regarding enforcement policy "are essential to supporting a vibrant and inclusive digital economy and innovation in digital assets." Blanche, one of several Trump criminal defense lawyers at the top ranks of DOJ, said the president "has also made clear that '[w]e are going to end the regulatory weaponization against digital assets'..."

Consistent with that narrowing of its cryptocurrency enforcement policy, the DOJ Market Integrity and Major Frauds Unit will also cease cryptocurrency enforcement to focus on other administration priorities, including immigration and procurement fraud, Blanche said.

The Washington Post got this assessment from Yesha Yadav, a Vanderbilt University law professor who closely follows cryptocurrency and financial markets. "It's hard to underestimate the importance this task force has had ... in pursuing some really huge crypto hacks and cases."

More from USA Today: Public corruption and transnational crime experts warned that shutting down the unit could divert critical resources from efforts to stop criminals and corrupt regimes from using cryptocurrency for illicit gain, even as Trump claims he wants to crack down on them. "Dangerous US adversaries rely on cryptocurrencies to launder money and evade sanctions," said Nate Sibley, an anti-corruption expert and director of the Kleptocracy Initiative at the conservative Hudson Institute think tank in Washington, D.C., in a post on X. "If this is accurate, hard to see how it squares with — for example-cracking down on cartel finances or maximum pressure sanctions on Iran...."

Trump's so-called "memecoin" surged from less than $10 on the Saturday before his inauguration to as high as $74.59 before eventually giving up some of its gains. The token, branded $TRUMP, has been criticized by ethics experts as a conflict of interest for the president since the company could likely benefit from his pro-crypto policies...

Last month, Trump signed an order to create a federal Strategic Bitcoin Reserve, signaling new federal support for cryptocurrency in general and Bitcoin in particular.

Since the first-ever White House crypto summit in March, America's Securities and Exchange Commission "has dropped more than a dozen cases against crypto firms," notes the Washington Post: Last month, both the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency pledged to stop evaluating banks based on "reputational risk" — a practice that some venture capitalists have claimed unfairly "de-banked" founders of cryptocurrency start-ups.
In other news, executives from cryptocurrency exchange Binance "met with Treasury Department officials last month," reports the Wall Street Journal, asking them to remove a U.S. monitor overseeing their compliance with anti-money-laundering laws, according to people familiar with the talks.

The article adds that Binance is also concurrently "exploring" a deal with the Trump family to list its new dollar-pegged stablecoin which "could catapult it into a huge market and potentially bring in billions in profit for the family. "
United States

Trump: Apple Building in China is 'Unsustainable,' Could Exempt Some Companies From Tariffs (macrumors.com) 224

An anonymous reader shares a report: Following U.S. President Donald Trump's decision to pause some of the exorbitant tariffs that he put in place earlier today, he spoke to the press at the White House and provided some commentary that could be a positive for Apple. When asked whether he would consider exempting some U.S. companies from the tariffs in the future, Trump said that he would. "As time goes by, we're going to take a look at it," he said. "There are some that by the nature of the company get hit a little bit harder, and we'll take a look at that," he added, claiming that he will "show a little flexibility."

[...] When speaking to the press, Trump reiterated his aim of bringing manufacturing to the United States, and he claimed that Apple "building" in China is unsustainable. "If you look at Apple, Apple is going to spend $500 billion building a plant. They wouldn't be doing that if I didn't do this. They'd just keep building them in China. And that's unsustainable," he said.

The Military

US Army Says It Could Acquire Targets Faster With 'Advanced AI' (404media.co) 126

The U.S. Army told the government it had a lot of success using AI to "process targets" during a recent deployment. It said that it had used AI systems to identify targets at a rate of 55 per day but could get that number up to 5,000 a day with "advanced artificial intelligence tools in the future." 404 Media: The line comes from a new report from the Government Accountability Office -- a nonpartisan watchdog group that investigates the federal government. The report is titled "Defense Command and Control" and is, in part, about the Pentagon's recent push to integrate AI systems into its workflow.

Across the government, and especially in the military, there has been a push to add or incorporate AI into various systems. The pitch here is that AI systems would help the Pentagon ID targets on the battlefield and allow those systems to help determine who lives and who dies. The Ukrainian and Israeli military are already using similar systems but the practice is fraught and controversial.

Medicine

America's NIH Scientists Have a Cancer Breakthrough. Layoffs are Delaying It. (msn.com) 302

Scientists "demonstrated a promising step toward using a person's own immune cells to fight gastrointestinal cancers" at America's National Institutes of Health (or NIH), reports the Washington Post.

But the results were published in Nature Medicine on Tuesday — "the same day the agency was hit with devastating layoffs..." The treatment approach is still early in its development; the personalized immunotherapy regimen shrank tumors in only about a quarter of the patients with colon, rectal and other GI cancers enrolled in a clinical trial. But a researcher who was not involved in the study called the results "remarkable" because they highlight a path to a frustratingly elusive goal in medicine — harnessing a person's own immune defenses to target common solid tumor cancers. Until now, cell-based immunotherapy has worked mainly on blood cancers, such as leukemia, but not the solid cancers that seed tumors in the breast, brain, lungs, pancreas and GI tract...

But the progress arrives at a sad time for science — and for patients, said the leader of the work, NIH immunotherapy pioneer Steven Rosenberg. Two patients' treatments using the experimental therapy had to be delayed because NIH's capacity to make personalized cell therapies has been slowed by the firing of highly skilled staff and by purchasing slowdowns. Those occurred even before major layoffs took place Tuesday... The Department of Health and Human Services (HHS) responded to an email asking about clinical trial delays with a statement: "NIH and HHS are complying with President Trump's executive order."

It's "a very exciting study," said Patrick Hwu, president of the Moffitt Cancer Center in Tampa. Finding ways to tailor this cell-based immunotherapy approach to common solid tumors that cause the vast majority of cancer deaths has remained a major scientific challenge... Rosenberg and colleagues first tried to create tumor infiltrating lymphocytes [or "TILs"] using the method that worked in melanoma for 18 patients with GI cancers that had spread. It failed completely. In a second iteration, his team sequenced the mutations present in each patient's tumor and used that information to sift out and expand the TILs that could home in on that patient's specific tumor cells. The results were far from a triumph, but provided a clue — this time, three of 39 patients' tumors shrank. In the last stage of the trial, the scientists added a drug called pembrolizumab that takes the brakes off immune cells. This time, eight of the 34 patients responded.

"Right now, only a few labs in the country can do what they just did," Hwu said.

While Rosenberg is already working "to refine and improve upon the results," he told the Post that two scientists involved in the specialized process of preparing the cells to treat patients were fired in the probationary purge. "We've had to slow down our work and delay the treatment of some patients...."

And there's also dramatically fewer people now who can purchase research materials, which the Post says it "making it slower and more difficult to obtain supplies."
Sony

NFL Adopts Sony's 'Virtual Measurements' for Football's First Downs (hawkeyeinnovations.com) 39

theodp writes: America's National Football League announced that beginning with the 2025 season, Sony's Hawk-Eye virtual measurement technology will assess and identify first downs after a ball spot.

Sony's Hawk-Eye virtual measurement technology, which consists of six 8K cameras for optical tracking of the position of the ball, is operated from the NFL's "Art McNally GameDay Central Officiating Center" in New York and is integrated with the League's existing replay system. It will serve as an efficient alternative to the process of having a three-person chain crew walk chains onto the field and manually measure whether 10 yards have been met after the official has spotted the ball.

However, the chain crew will remain on the field in a secondary capacity.

The NFL's executive VP of football operations says their move brings "world-class on field officiating with state-of-the-art technology to advance football excellence." (The NFL's announcement notes the whole process takes about 30 seconds, "saving up to 40 seconds from a measurement with the chains.")

The move comes a full seven years after Apple introduced its iPhone Measure app...
Businesses

Makers of Rent-Setting Software Sue California City Over Ban (apnews.com) 95

Berkeley, California is "the latest city to try to block landlords from using algorithms when deciding rents," reports the Associated Press (noting that officials in many cities claim the practice is driving up the price of housing).

But then real estate software company RealPage filed a federal lawsuit against Berkeley on Wednesday: Texas-based RealPage said Berkeley's ordinance, which goes into effect this month, violates the company's free speech rights and is the result of an "intentional campaign of misinformation and often-repeated false claims" about its products.

The U.S. Department of Justice sued Realpage in August under former President Joe Biden, saying its algorithm combines confidential information from each real estate management company in ways that enable landlords to align prices and avoid competition that would otherwise push down rents. That amounts to cartel-like illegal price collusion, prosecutors said. RealPage's clients include huge landlords who collectively oversee millions of units across the U.S. In the lawsuit, the Department of Justice pointed to RealPage executives' own words about how their product maximizes prices for landlords. One executive said, "There is greater good in everybody succeeding versus essentially trying to compete against one another in a way that actually keeps the entire industry down."

San Francisco, Philadelphia and Minneapolis have since passed ordinances restricting landlords from using rental algorithms. The Department of Justice case remains ongoing, as do lawsuits against RealPage brought by tenants and the attorneys general of Arizona and Washington, D.C...

[On a conference call, RealPage attorney Stephen Weissman told reporters] RealPage officials were never given an opportunity to present their arguments to the Berkeley City Council before the ordinance was passed and said the company is considering legal action against other cities that have passed similar policies, including San Francisco.

RealPage blames high rents not on the software they make, but on a lack of housing supply...
Earth

A Busy Hurricane Season is Expected. Here's How It Will Be Different From the Last (washingtonpost.com) 60

An anonymous reader shares a report: Yet another busy hurricane season is likely across the Atlantic this year -- but some of the conditions that supercharged storms like Hurricanes Helene and Milton in 2024 have waned, according to a key forecast issued Thursday.

A warm -- yet no longer record-hot -- strip of waters across the Atlantic Ocean is forecast to help fuel development of 17 named tropical cyclones during the season that runs from June 1 through Nov. 30, according to Colorado State University researchers. Of those tropical cyclones, nine are forecast to become hurricanes, with four of those expected to reach "major" hurricane strength.

That would mean a few more tropical storms and hurricanes than in an average year, yet slightly quieter conditions than those observed across the Atlantic basin last year. This time last year, researchers from CSU were warning of an "extremely active" hurricane season with nearly two dozen named tropical storms. The next month, the National Oceanic and Atmospheric Administration released an aggressive forecast, warning the United States could face one of its worst hurricane seasons in two decades.

The forecast out Thursday underscores how warming oceans and cyclical patterns in storm activity have primed the Atlantic basin for what is now a decades-long string of frequent, above-normal -- but not necessarily hyperactive -- seasons, said Philip Klotzbach, a senior research scientist at Colorado State and the forecast's lead author.

China

China Imposes 34% Reciprocal Tariffs on Imports of US Goods (cnn.com) 296

China said Friday that it will impose reciprocal 34% tariffs on all imports from the United States from April 10, making good on a promise to strike back after US President Donald Trump escalated a global trade war. CNN: On Wednesday, Trump unveiled an additional 34% tariff on all Chinese goods imported into the US, in a move poised to cause a major reset of relations and worsen trade tensions between the world's two largest economies.

"This practice of the US is not in line with international trade rules, seriously undermines China's legitimate rights and interests, and is a typical unilateral bullying practice," China's State Council Tariff Commission said in a statement announcing its retaliatory tariffs. Since returning to power in January, Trump had already levied two tranches of 10% additional duties on all Chinese imports, which the White House said was necessary to stem the flow of illicit fentanyl from the country to the US. Combined with pre-existing tariffs, that means Chinese goods arriving in the US would be effectively subject to tariffs of well over 54%.

United States

Wealthy Americans Have Death Rates On Par With Poor Europeans (arstechnica.com) 208

An anonymous reader quotes a report from Ars Technica: [...] The study, led by researchers at Brown University, found that the wealthiest Americans lived shorter lives than the wealthiest Europeans. In fact, wealthy Northern and Western Europeans had death rates 35 percent lower than the wealthiest Americans, whose lifespans were more like the poorest in Northern and Western Europe -- which includes countries such as France, the Netherlands, and Switzerland. "The findings are a stark reminder that even the wealthiest Americans are not shielded from the systemic issues in the US contributing to lower life expectancy, such as economic inequality or risk factors like stress, diet or environmental hazards," lead study author Irene Papanicolas, a professor of health services, policy and practice at Brown, said in a news release.

The study looked at health and wealth data of more than 73,000 adults across the US and Europe who were 50 to 85 years old in 2010. There were more than 19,000 from the US, nearly 27,000 from Northern and Western Europe, nearly 19,000 from Eastern Europe, and nearly 9,000 from Southern Europe. For each region, participants were divided into wealth quartiles, with the first being the poorest and the fourth being the richest. The researchers then followed participants until 2022, tracking deaths. The US had the largest gap in survival between the poorest and wealthiest quartiles compared to European countries. America's poorest quartile also had the lowest survival rate of all groups, including the poorest quartiles in all three European regions.

While less access to health care and weaker social structures can explain the gap between the wealthy and poor in the US, it doesn't explain the differences between the wealthy in the US and the wealthy in Europe, the researchers note. There may be other systemic factors at play that make Americans uniquely short-lived, such as diet, environment, behaviors, and cultural and social differences. "If we want to improve health in the US, we need to better understand the underlying factors that contribute to these differences -- particularly amongst similar socioeconomic groups -- and why they translate to different health outcomes across nations," Papanicolas said.
The findings have been published in the New England Journal of Medicine.
Businesses

US Stock Markets See Worst Day Since Covid Pandemic (theguardian.com) 225

U.S. stock markets suffered their worst day since the Covid pandemic after Donald Trump announced sweeping new tariffs, triggering a global selloff and wiping out $470 billion in value from tech giants Apple and Nvidia. From a report: The tech-heavy Nasdaq fell 6%, while the S&P 500 and the Dow dropped 4.8% and 3.9%, respectively. [...] Meanwhile, the US dollar hit a six-month low, going down at least 2.2% on Thursday morning compared with other major currencies and oil prices sank on fears of a global slowdown. Though the US stock market has been used to tumultuous mornings over the last few weeks, US stock futures -- an indication of the market's likely direction -- had plummeted after the announcement. Hours later, Japan's Nikkei index slumped to an eight-month low and was followed by falls in stock markets in London and across Europe.

Multiple major American business groups have spoken out against the tariffs, including the Business Roundtable, a consortium of leaders of major US companies including JP Morgan, Apple and IBM, which called on the White House to "swiftly reach agreements" and remove the tariffs. "Universal tariffs ranging from 10-50% run the risk of causing major harm to American manufacturers, workers, families and exporters," the Business Roundtable said in a statement. "Damage to the US economy will increase the longer the tariffs are in place and may be exacerbated by retaliatory measures."

United States

Cybersecurity Professor Faced China Funding Inquiry Before Disappearing (wired.com) 21

The FBI searched two homes of Indiana University Bloomington data privacy professor Xiaofeng Wang last week, following months of university inquiries into whether he received unreported research funding from China, WIRED reported Wednesday.

Wang, who leads the Center for Distributed Confidential Computing established with a $3 million National Science Foundation grant, was terminated on March 28 via email from the university provost. The university had contacted Wang in December regarding a 2017-2018 grant in China that listed him as a researcher, questioning whether he properly disclosed the funding to IU and in applications for U.S. federal research grants.

Jason Covert, Wang's attorney, said Wang and his wife Nianli Ma, whose employee profile was also removed, are "safe" and neither has been arrested. The couple's legal team has viewed a search warrant but received no affidavit establishing probable cause.
Social Networks

Amazon Said To Make a Bid To Buy TikTok in the US (nytimes.com) 33

An anonymous reader shares a report: Amazon has put in a last-minute bid to acquire all of TikTok, the popular video app, as it approaches an April deadline to be separated from its Chinese owner or face a ban in the United States, according to three people familiar with the bid.

Various parties who have been involved in the talks do not appear to be taking Amazon's bid seriously, the people said. The bid came via an offer letter addressed to Vice President JD Vance and Howard Lutnick, the commerce secretary, according to a person briefed on the matter. Amazon's bid highlights the 11th-hour maneuvering in Washington over TikTok's ownership. Policymakers in both parties have expressed deep national security concerns over the app's Chinese ownership, and passed a law last year to force a sale of TikTok that was set to take effect in January.

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