An early Senate vote to move forward on crypto legislation failed Thursday afternoon — a blow to bipartisan efforts to regulate stablecoins.
Why it matters: It is an early, procedural vote. But Democrats have been fighting hard for changes and tried unsuccessfully to get Republican leaders to delay the vote.
The OCC, a bureau of the Treasury Department charged with overseeing national banks, put out an interpretative letter Wednesday further clarifying that the banks it supervises are allowed to hold crypto for their customers.
Why it matters: The OCC is one of three big U.S. bank regulators that recently rolled back earlier guidance that had basically kept banks out of crypto — but some crypto supporters believe the message can still be more clear.
Why it matters: Prediction markets never saw it coming: the selection of Chicago native Robert Prevost, the first American to ascend to the papacy in history and now Pope Leo XIV.
Bill Gates ratcheted up his feud with Elon Musk on Thursday, saying the former DOGE head was "killing" children through USAID cuts.
Why it matters: The two billionaires have sparred since 2022, but Gates' comments to the Financial Times escalated his charges against the Tesla founder, who was instrumental in gutting the world's largest humanitarian organization.
As part of diversity, equity, and inclusion walk-backs, many companies said they would no longer participate in "external events" or pledges, namely Pride parades that will take place across the country next month.
Why it matters: This is a major pivot for the once proud corporate America.
As chief communications officer for GE Vernova, Kristin Carvell is responsible for leading communications and brand marketing for the energy company, which spun out from GE.
Why it matters: April marked the one-year mark of the spinoff, and since then, Carvell and her team have been focused on establishing the brand and shaping the story of the newly public company.
The U.S. and Britain agreed on the framework for a sweeping new trade deal, the first major pact since President Trump began a campaign of global tariffs.
Why it matters: It may serve as a model for the dozens of other countries negotiating with his administration.
Ontario officials have given final approval to construct a GE Vernova Hitachi Nuclear Energy small modular reactor (SMR) that the company predicts will be the first SMR operating in the "Western world."
Why it matters: Construction of the 300 megawatt BWRX-300 reactor adjacent to Ontario Power Generation's existing Darlington Nuclear Station will produce enough energy to power 300,000 homes.
Bill Gates, once the richest man in the world, vowed Thursday to give away "virtually all" of his wealth through the Gates Foundation over the next two decades.
Then, the foundation will close its doors on Dec. 31, 2045.
The big picture: The consequential Gates Foundation — which was founded 25 years ago by Gates and his ex-wife, Melinda French Gates — has committed billions to philanthropic efforts and has made vast contributions to improving public health around the globe.
Bonuses are expected to drop for many on Wall Street this year, but market volatility has created a few winners, per a projection from compensation consulting firm Johnson Associates out Thursday morning.
Why it matters: Finance professionals were excited about the markets in a second Trump term, but so far investors have been on quite the rollercoaster.
At most organizations it's clear where the buck stops and who's accountable to whom. As OpenAI CEO Sam Altman says, however, "OpenAI is not a normal company and never will be."
Why it matters: OpenAI announced earlier this week that control of the company will continue to be held by a nonprofit devoted to the needs of humanity rather than to financial profit.
Two grandsons of Walmart founder Sam Walton plan to launch a private university focused on science and tech, located on the company's old HQ campus near downtown Bentonville, Arkansas.
Why it matters: The future university plans to offer innovative, flexible pathways to jobs in automation, logistics, biotech and computing — fields crucial to Northwest Arkansas' future.
Building talent in STEM (science, tech, engineering, and math) is a priority for the U.S., China and other countries racing to compete in the global economy.
America's tech titans backed President Trump's promise of a new "Golden Age" with seven-figure checks, glowing public praise and front-row tickets to his inauguration.
So far, those favors remain unreciprocated.
Why it matters: Big Tech has been in MAGA's crosshairs for years. Even as Trump revels in the industry's dramatic realignment and personal overtures, the core tensions in the relationship are far from resolved.
/2025/05/06/1746565921379.gif?w=3840)
/2025/05/07/1746650478671.gif?w=3840)
