The Wall Street Journal

OpenAI Wants to Go Public. First Sarah Friar Needs to Get It to Grow Up. - WSJ

SEATTLE (AP)  The collapse of the U.S.-based Spirit Airlines may mark the end of an era for travelers with a certain financial sensibility.
But if you've been snagged in their now-defunct flight sch… [+5241 chars]

If you’ve been snagged in Spirit Airlines' now-defunct flight schedule, here are some things to know on how to get home, and get whole.

After Spirit Airlines shutdown, how passengers can get home and get refunds - PBS

McDonalds most impressive feat is not that it rose to the top of the fast-food chain; its that it managed to stay there.
The chain was founded in 1940, but its true rise to prominence came in the 19… [+5612 chars]

The 60-year-old chain has been shrinking for nearly a decade as it struggles with falling store counts.

TheStreet

McDonald’s rival closes 729 more restaurants - thestreet.com

When Elizabeth Warren took to X in early 2024 to acknowledge the blocked merger between JetBlue Airways and Spirit Airlines, she framed it as a clear consumer victory. She called the decision, which … [+6511 chars]

With Spirit Airlines shuttered after more than three decades in operation, was the decision to block the JetBlue-Spirit merger in 2024 really the right one?

Yahoo Entertainment

Elizabeth Warren hailed blocking the $3.8B Spirit-JetBlue merger as a 'Biden win for flyers.' Now Spirit is gone - Yahoo Finance

Investing legend Warren Buffett bemoaned the gambling culture that has taken over financial markets while continuing to preach his brand of patience.In an interview with CNBC on Saturday as Berkshire… [+2595 chars]

"But that doesn't mean that investing is terrible. It does mean that prices for an awful lot of things will look very silly."

Fortune

Warren Buffett says 'we've never had people in a more gambling mood than now' - Fortune

U.S. debt is expected to continue soaring in the coming decades not because of excesses committed by future lawmakers, although thats certainly possible, but because interest payments on past borrowi… [+4577 chars]

"In a 'Fiscal Dominance' regime, the Fed's ability to aggressively hike rates to curb inflation is constrained, as doing so risks a fiscal or financial crisis."

Interest on US debt is a top driver of future deficits, as past borrowing overwhelms fiscal outlook - Fortune

Then $75 per month. Complete digital access to quality FT journalism on any device. Cancel anytime during your trial.

New CEO ‘not anxious to deploy capital into subpar opportunities’ as he picks up baton from legendary predecessor

Financial Times

Greg Abel’s message to Berkshire shareholders, post-Buffett: be patient - Financial Times

<ul><li></li><li></li><li></li></ul>
In the second phase of trial, the state will argue for changes to Metas business.
In the second phase of trial, the state will argue for changes to Metas busine… [+8692 chars]

New Mexico kicks off its public nuisance trial against Meta on Monday, arguing for changes to its business to better protect kids in the state.

The Verge

Meta’s historic loss in court could cost a lot more than $375 million - The Verge

The big picture: The legal profession's most important classroom, the early-career grind of junior and summer associates, is quietly reshaping, as the path to partnership is being rewritten in real t… [+3067 chars]

Axios

AI threatens Big Law's talent pipeline - Axios

Gov. Kathy Hochuls proposal to raise revenue in New York City by taxing second homes is prompting another lawmaker to bring the idea to the rest of the state.
Hochul rolled out a plan last month tha… [+3472 chars]

State Sen. Pat Fahy wants to allow other local governments to opt into the pied-à-terre tax.

Gothamist

Could pied-à-terre tax find its way upstate? At least one New York legislator hopes so. - Gothamist

Gas prices are rising across the country again, hitting especially hard in Midwestern states that backed Donald Trump in the 2024 election.

Moneywise.com

Midwest gas prices spike in Trump states - moneywise.com

Coinbase said on Friday that lawmakers reached a deal on the stablecoin yield provision that has held up the Clarity Act for months, potentially clearing the way for a long-stalled Senate Banking Com… [+5422 chars]

Coinbase CEO Brian Armstrong urged the Senate Banking Committee to "mark it up" as a months-long stalemate appears to be at an end.

Theblock.co

Coinbase says deal reached on Clarity Act stablecoin yield, clearing path to long-stalled Senate markup - The Block

In an incident last September, police officers in San Bruno - a city south of San Francisco - noticed a Waymo AV making an illegal U-turn at a light directly in front of them, the San Bruno Police De… [+185 chars]

Under the new rules, police will be able to issue tickets directly to the car's manufacturer when an autonomous vehicle breaks a traffic law.

BBC News

California to begin ticketing driverless cars that violate traffic laws - BBC

Berkshire Hathaway Inc.s cash pile soared to its highest level ever and operating earnings jumped in Greg Abels first quarter as chief executive officer.
After a slight decrease late last year, the … [+318 chars]

Berkshire Hathaway Inc.’s cash pile soared to its highest level ever and operating earnings jumped in Greg Abel’s first quarter as chief executive officer.

Bloomberg

Berkshire Hathaway’s Cash Surges in Abel’s First Quarter as CEO - Bloomberg.com

May 1 (Reuters) - GameStop is preparing an offer for eBay as CEO Ryan Cohen pursues plans to boost the struggling videogame retailer's market value more than tenfold, the Wall Street Journal reported… [+2328 chars]

GameStop is preparing an offer for eBay as CEO Ryan Cohen pursues plans to boost the struggling videogame retailer's market value more than tenfold, the ‌Wall...

GameStop is preparing offer for eBay, WSJ reports - Yahoo Finance

Key Points
<ul><li>Mortgage rates made major swings, briefly dropping below 6% before surging past 6.5% again.</li><li>Buyers returned despite high rates, with purchase applications up 14% year over… [+7047 chars]

Rates climbed back from a three-year low. Contracts are rising. Something shifted in the American homebuyer's head.

Mortgage rates erased 9 months of gains, but buyers haven’t blinked - thestreet.com

Thermos is asking millions of its customers to put down their lunch holders and water bottles. USA Today reports that the company is recalling about 8.2 million insulated containers after reports tha… [+412 chars]

Lack of pressure-relief feature is behind food holders, beverage bottles getting yanked

Newser

Thermos Recalls 8.2M Containers After 3 People Go Blind - Newser

If the internet is not real life, how do we explain the JP Morgan harassment case? In this viral story, a senior female executive at the US bank JP Morgan was alleged to have subjected a male subordi… [+3065 chars]

If the internet is not real life, how do we explain the JP Morgan harassment case? In this viral story, a senior female executive at the US bank JP Morgan was alleged to have subjected a male subordinate to a sustained campaign of aggressive sexual harassment…

Unherd.com

JP Morgan sex scandal inverts the #MeToo stereotype - UnHerd

In early April, Anthropic sent shudders through the tech community with Claudes Mythos Preview model. Mythos marked a paradigm shift in AI capabilities, reportedlydelivering processing power that ena… [+21305 chars]

Yale's Jeffrey Sonnenfeld and colleagues argue that Claude Mythos will break enterprise deployment in ways that cannot be undone—without key fixes.

Anthropic's most powerful AI model just exposed a crisis in corporate governance. Here's the framework every CEO needs. - Fortune

History is about to be made at America's premier financial institution, the Federal Reserve.
May 15 will mark Jerome Powell's final day as Fed chair and might represent the start of Kevin Warsh's te… [+5844 chars]

Warsh's testimony before the Senate Banking Committee points to foundational changes at the Fed.

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