Bill Amid

Prime minister-in-waiting votes for plans to tighten appeals system as 14 Labour MPs oppose measuresAndy Burnham has backed the government’s controversial asylum changes, voting for legislation that has divided Labour MPs over plans to tighten the immigration system and reshape the appeals process.The prime minister-in-waiting and Labour MP for Makerfield supported the immigration and asylum bill at its second reading in the House of Commons on Monday evening, despite a rebellion by 14 Labour MPs. Continue reading...

• Meta has announced plans to build the Hyperion data center supercluster in Richland Parish, Louisiana, with a projected investment exceeding $50 billion. • The facility is designed as a 5GW supercluster, representing a massive scale-up in infrastructure to support the company's growing artificial intelligence capabilities. • This investment underscores the critical need for immense computing power and energy to train and deploy next-generation AI models.

• Hong Kong is facing a potential influx of US$100 billion in newly tradable shares as a surge of stocks become eligible for trading. • This liquidity challenge arrives as global investors pivot toward AI-linked stocks, favoring markets like South Korea, Taiwan, and Japan. • The situation is critical because Hong Kong's equity market lacks the deep AI supply chain integration seen in its regional competitors, risking a capital drain.

Billionaires’ wealth grew by 25% on average in the year ended in April, research from Swiss bank UBS findsBusiness live – latest updatesThe number of billionaires in the world has jumped by 13% to a record 3,302 people, new figures show, as the super-rich accumulate wealth at an accelerating rate.Billionaires’ wealth grew by 25% on average in the year ended in April, compared with a 10.8% rise in average personal wealth around the world, the Swiss bank UBS found. Continue reading...

• Chinese AI startup DeepSeek has raised over 50 billion yuan ($7.4 billion) in its first funding round, achieving a company valuation exceeding $50 billion. • The funding round included notable investors such as Tencent and CATL, utilizing a unique investment structure specifically designed to preserve control for the company's founders. • This massive capital injection solidifies DeepSeek's position as a major player in the global AI landscape during the current artificial intelligence boom.

• Chinese AI lab DeepSeek is reported to be preparing a 6 billion euro external funding round as it tries to stay competitive in the global model race. • The fundraising would be one of the largest recent AI capital raises, reflecting continued investor appetite for frontier-model developers even as costs and compute needs surge. • The move matters for U.S. technology markets because capital flows and model competition remain tightly linked across American and Chinese AI ecosystems.

• The House of Representatives is scheduled to vote on legislation providing military and humanitarian assistance to Ukraine as the Russia-Ukraine conflict continues with ongoing Russian drone and ballistic missile strikes. • Russia conducted fresh attacks on Kyiv, injuring at least 4 people, underscoring the urgency of US support discussions in Congress. • The vote represents a critical moment for US commitment to Ukrainian defense as negotiations continue regarding the scope and nature of American assistance.

• Andreessen Horowitz (a16z) announced plans to raise a record $20 billion for its largest-ever AI-focused megafund, surpassing previous funds by 25%. • The fundraising comes amid accelerating global AI industry growth, with a16z targeting investments in AI infrastructure, models, and applications. • This megafund underscores VC confidence in AI's transformative potential, potentially fueling startups in compute, data, and enterprise software amid competition from rivals like Sequoia and SoftBank.

• China is aggressively scaling its AI-driven cyber defense market as US developers Anthropic and OpenAI unveil new models with enhanced cybersecurity capabilities, intensifying competition in AI security innovation. • IDC projects China's AI cybersecurity industry will reach 59.35 billion yuan ($8.7 billion) by 2030, representing a more than 37-fold increase from 1.58 billion yuan ($230 million) in 2025. • Anthropic's Mythos model, launched in April, sparked rapid global response due to its unprecedented speed and efficiency in discovering and exploiting cybersecurity vulnerabilities, prompting competitive responses from Chinese developers.

Move comes as airline industry reacts to uncertainty over Iran war and increase in price of Brent crudeBusiness live – latest updatesAir France-KLM has cut its capacity growth forecasts for this year as the Iran war drives up its fuel costs by billions of dollars.The French-Dutch airline expects its fuel bill to increase by $2.4bn (£1.8bn) this year as a result of the surge in costs since the Middle East conflict began. In response, it has trimmed its expectations for capacity growth to between 2% and 4% this year, down from 3% to 5% previously. Continue reading...

Congressman says keeping gas supplies at home could lower costs for Americans amid price hikes sparked by warAmid historic jumps in gas prices triggered by the US-Israeli war on Iran, California congressman Ro Khanna is to introduce legislation on Tuesday that would ban the export of gasoline during price spikes.“The country is crying out for a new energy policy,” said Khanna in an interview with the Guardian, “that doesn’t have us subject to the whims of the profits of big oil companies.” Continue reading...

Legislative change backed by libertarian president makes it easier to extract metals in frozen parts of the AndesArgentina’s congress has approved a bill promoted by the libertarian president, Javier Milei, that authorises mining in ecologically sensitive areas of glaciers and permafrost, and has outraged environmentalists.The amendment to the so-called glacier law, which was already approved by the senate in February, would make it easier to mine for metals such as copper, lithium and silver in frozen parts of the Andes mountains. Continue reading...

• Blackstone closed a $10 billion opportunistic private credit fund on April 8, 2026, reaching its hard cap target despite ongoing capital outflows in the sector. • The fund's successful close highlights Blackstone's strength in private credit as investors remain cautious due to market volatility and higher interest rates. • This deal underscores the resilience of top alternative asset managers in attracting institutional capital amid broader private credit struggles.

• OpenAI secured $122 billion in funding, achieving an $852 billion valuation while advancing toward an AI superapp. • The massive round fuels rapid growth and preparations for a potential IPO in the US market. • This positions OpenAI as a dominant force in AI innovation, attracting top talent and resources.

• JPMorgan Chase authorized a $5 billion share repurchase program, effective immediately, following a strong first quarter in which net income exceeded $6.2 billion and return on equity reached 15.3%. • CEO Jamie Dimon stated that the buyback reflects management confidence in the bank's capital position and long-term earnings trajectory despite macroeconomic headwinds. • The announcement signals investor-friendly capital allocation policies among major financial institutions, supporting bank stock valuations and demonstrating the sector's resilience amid ongoing rate cut speculation.

• The Senate voted early Friday morning to approve a Department of Homeland Security funding bill that excludes funding for Immigration and Customs Enforcement (ICE) and portions of U.S. Customs and Border Protection (CBP), ending weeks of stalled negotiations. • Republicans indicated they plan to fund immigration enforcement agencies through a separate reconciliation bill in fiscal 2027, bypassing the normal appropriations process and relying solely on GOP votes. • The Senate-passed measure faces significant obstacles in the House, where hardline conservatives have already signaled opposition, threatening to extend the DHS shutdown beyond its current five-week duration.

• The U.S. House of Representatives passed legislation Thursday, March 26, 2026, to end the Department of Homeland Security (DHS) shutdown, marking the third such attempt in two months after funding lapsed nearly six weeks ago. • The bill aims to restore operations but faces uncertain prospects in the Senate, unlikely to immediately resolve the prolonged funding crisis affecting border security and immigration enforcement. • This repeated House action underscores deepening partisan divides on federal spending priorities during a critical period for national security infrastructure.

• Representative Alexandria Ocasio-Cortez and Senator Bernie Sanders introduced legislation Wednesday to pause new data centers in the United States until national safeguards are established for worker protection, consumer safety, and environmental impact. • A typical AI-focused data center consumes as much electricity as 100,000 households, contributing to record U.S. electricity consumption hit in 2024 that is expected to continue rising as data centers expand. • The bill is unlikely to advance in either chamber but signals deep progressive concerns about AI infrastructure's rapid expansion and its effects on working families, democracy, and technology equity.

• NASA announced a $20 billion moonbase initiative on March 25, 2026, as part of expanded lunar exploration plans. • Simultaneously, unprecedented wildfires ravaged Colorado, Great Plains, and Nebraska, with one fire scorching over 600,000 acres (240,000 hectares) in days. • The blazes highlight escalating climate-driven fire risks in the US West and Midwest.

Party intends to craft a bill using the reconciliation procedure, which will allow it to circumvent the Senate filibusterUS politics live – latest updatesSign up for the Breaking News US newsletter emailSenate Republicans on Wednesday announced plans to begin a unilateral push for legislation that may include funding for Donald Trump’s war with Iran and Immigration and Customs Enforcement (ICE), while also including elements of a voter ID bill that is a priority of the party’s right wing.The legislative effort – which could take weeks to play out and has no guarantee of success – comes amid a protracted standoff with Democrats over the partial shutdown of the Department of Homeland Security (DHS), which has led to lengthy lines at Transportation Security Administration (TSA) checkpoints at some airports. Continue reading...

PM indicates he would prefer to focus taxpayer-funded help on poorest households, rather than universal bailoutMinisters are looking at providing support for household bills next winter, Keir Starmer said, as he suggested the energy price shock unleashed by the Iran conflict could continue for months to come.The prime minister indicated he would prefer to focus any taxpayer-funded help on the poorest households, rather than an expensive universal bailout, ahead of an emergency meeting on the economic fallout of the Middle East crisis. Continue reading...

Consultancy’s forecast of £1,972 annual dual fuel bill follows conflict pushing UK’s gas market past three-year highsBusiness live – latest updatesHousehold energy bills in Great Britain could soar by more than £330 a year to almost £2,000 from this summer after the war in Iran pushed the UK’s gas market past three-year highs.A typical combined household gas and electricity bill is now forecast to reach £1,972 a year from July under the UK government’s quarterly price cap, according to analysis by Cornwall Insight, an energy consultancy. Continue reading...

• The U.S. House Agriculture Committee approved the Farm, Food, and National Security Act of 2026 on March 5 in a 34-17 vote after a 20-hour markup session. • GOP-proposed cuts to SNAP nutrition programs sparked partisan disputes, with Rep. Angie Craig warning they 'jeopardize the path forward for this bill.' • The 802-page bill sets policy and funding for food, agriculture, and conservation programs over five years, but faces hurdles needing Democratic support in the Senate's 60-vote threshold.

Poland's President Andrzej Duda vetoed legislation on March 14, 2026, blocking access to nearly €44 billion in EU defense loans, escalating tensions with his government. The move comes amid broader EU-US friction over Ukraine support and Middle East conflicts. Critics argue it weakens collective defense as Russia benefits from lifted sanctions. Warsaw anticipates legal challenges and potential EU funding cuts.

Warner Bros' films *One Battle After Another* and *Sinners* are favored for major wins at the 2026 Oscars this weekend, positioning the studio for success despite looming takeover plans. The proposed $110 billion Paramount-Skydance merger, subject to regulatory reviews, threatens Hollywood stability by consolidating two legacy studios and risking job losses. Teamsters president Sean M. O'Brien warned, 'This merger threatens the livelihoods of workers who built these studios.' Industry figures like JJ Abrams describe the atmosphere as 'shaky and unsettled,' with attention now turning post-ceremony.