Three of the world’s biggest tech companies face a landmark trial in Los Angeles starting this week over claims that their platforms — Meta’s Instagram, ByteDance’s TikTok, and Google’s YouTube — deliberately addict and harm children.Jury selection starts this week in the Los Angeles County Superior Court. It’s the first time the companies will argue their case before a jury, and the outcome could have profound effects on their businesses and how they will handle children using their platforms. The selectio ...

Core Viewpoint - The U.S. Treasury Department has terminated multiple contracts with Booz Allen Hamilton due to a significant data breach involving the unauthorized disclosure of tax returns of high-profile individuals, including President Donald Trump, by a former employee [1][3]. Group 1: Contract Termination and Financial Impact - The Treasury has canceled 31 contracts with Booz Allen Hamilton, which are valued at $4.8 million annually and have a total obligation of $21 million [3]. - Following the announcement, Booz Allen's stock fell more than 10%, closing down 8.11% at $108.29 [4]. Group 2: Data Breach Details - The breach was executed by former contractor Charles Edward Littlejohn, who leaked tax records between 2018 and 2020, affecting approximately 406,000 taxpayers [3][4]. - Littlejohn pleaded guilty to unauthorized disclosure of tax return information and was sentenced to five years in federal prison [4]. Group 3: Company Response and Reputation - Booz Allen has distanced itself from Littlejohn's actions, stating that the breach occurred on government systems and not its own [5][8]. - The company emphasized its commitment to ethical standards and stated it has zero tolerance for legal violations [8]. - Despite the recent scandal, Booz Allen maintains significant contracts with the Department of Defense, including a five-year, $1.58 billion agreement for intelligence analysis [9][12]. Group 4: Historical Context - Booz Allen has faced criticism for past security incidents, notably the 2013 leak by Edward Snowden, who disclosed confidential government documents while employed by the firm [10].

The price of gold surpassed $5,000 per troy ounce for the first time ever while silver also soared to record highs as precious metals have become an increasingly attractive asset class in the face of a weakened US dollar, uncertainty at the Federal Reserve and geopolitical turmoil.Spot gold was trading at around $5,110 per ounce on Monday morning while silver surged 8%, pushing deeper above $100 per ounce.Meanwhile, stocks opened modestly higher after two straight weekly declines. 4 The price of gold surp ...

Last year saw the stock market grow but still marked the worst first year of a presidential administration in terms of stocks since 2005, as President Trump’s drastic shifts on tariffs fueled economic uncertainty.From his inauguration day last year through Jan. 20 of this year, the S&P 500 rose 13.3% – the most tepid start to a presidency in 20 years, since George W. Bush entered his second term, CNN reported.By comparison, during the first year of Trump’s first term in the Oval Office, the S&P 500 skyrocke ...

Here’s a riddle for investors: What will the 2026 stock market give you more of – while also giving you less of it? The answer: This bull market.After a roaring 2025 that shocked almost everyone (excepting yours truly, see below), expect more gains – just don’t expect too much. No boom, no bust. A choppy year with early political headwinds flipping to tailwinds late – and rewarding patience. 5 The bull’s slowing down – although reports of its death are greatly exaggerated. Getty ImagesFirst, my 2025 repor ...

Core Viewpoint - Google and Apple are facing legal repercussions for secretly recording users' conversations without consent, leading to a combined settlement of $163 million to resolve the lawsuits [1]. Group 1: Apple - Apple has agreed to a $95 million settlement for a class-action lawsuit that accused the company of eavesdropping on users who did not activate Siri with the prompt "Hey, Siri" [1][4]. - Users who purchased Apple devices between September 17, 2014, and December 31, 2024, and experienced unintended Siri activations are eligible for compensation, capped at $20 per device, with a maximum of five devices per person [7][8]. - Apple reported a net income of $93.74 billion in the last fiscal year, indicating that the settlement amount represents approximately nine hours of profit for the company [8]. Group 2: Google - Google has reached a tentative $68 million settlement related to a lawsuit claiming that Google Assistant recorded users without the activation phrase "OK Google" [4][15]. - The settlement is part of a lawsuit filed in 2019 and is pending approval from a federal judge [4][15]. - The class-action suit against Google includes all users in the U.S. who purchased a Google device and had Gmail accounts linked to Google Assistant-enabled devices between May 18, 2016, and December 16, 2022 [15]. Group 3: User Experience and Advertising - Users reported receiving targeted advertisements for brands they discussed in conversations that were recorded, such as Olive Garden and Air Jordan [3][9]. - The lawsuits allege that recorded discussions were shared with third-party businesses, leading to these targeted ads [9]. Group 4: Company Responses - Both Apple and Google have denied any wrongdoing regarding the allegations made in the lawsuits [5]. - Apple has since implemented a policy requiring users to opt in before their recorded audio can be used to improve Siri's functionality [5].

The head of Airbus has warned staff that the plane maker must be ready to adapt to unsettling new geopolitical risks after facing “significant” logistical and financial damage from US protectionism and US-China trade tensions last year.“The beginning of 2026 is marked by an unprecedented number of crises and by unsettling geopolitical developments. We should proceed in a spirit of solidarity and self-reliance,” CEO Guillaume Faury said in an internal letter seen by Reuters.“The industrial landscape in which ...

Group 1 - Meta is temporarily halting teens' access to artificial intelligence characters, with the change expected to take effect in the coming weeks [1][3][7] - The restriction applies to users identified as minors based on their provided birthdates and those suspected to be teens through age prediction technology [1] - Despite the ban on AI characters, teens will still have access to Meta's AI assistant [3] Group 2 - This decision comes ahead of a trial in Los Angeles involving Meta, TikTok, and Google's YouTube regarding the impact of their apps on children [3] - Other companies, such as Character.AI, have also implemented similar bans on teens accessing AI chatbots due to concerns over child safety [4][6]

Core Insights - Goldman Sachs CEO David Solomon received a compensation package of $47 million in 2025, marking a 21% increase from $38 million in 2024, reflecting a rebound in the bank's investment banking activities [1] Compensation Details - Solomon and Goldman president John Waldron each received $80 million in stock-based retention bonuses to ensure their continued presence at Goldman until January 2030 [2]

Intel shares plunged by as much as 17% on Friday after the chipmaker admitted it was struggling to meet demand for its high-powered AI chips.The Santa Clara, Calif.-based firm, which makes chips needed for data centers, is in the midst of a turnaround effort as it looks to capitalize on surging demand from tech giants who need chips and servers to power the artificial intelligence boom.During a call with investors, Intel executives, including chief financial officer David Zinser, admitted that supplies had ...