An equipment outage scrambled flights across the Northeast on Monday, forcing ground stops and delaying travel for hours.
The big picture: The disruption grounded flights into some of the region's busiest airports, including into New York as world leaders gather for the UN General Assembly.
President Trump and New York Mayor Zohran Mamdani struck a warm tone Monday during their third in-person meeting and agreed to deepen talks over a major housing project in Queens.
Why it matters: The friendly encounter showed Trump and Mamdani's unusual personal rapport has endured despite their recent political clashes — and fresh disagreements on display Monday.
The agentic shopping revolution is already running into a major roadblock: tension over who controls the experience and the related data.
Why it matters: A conflict between Amazon and Meta suggests that AI-powered shopping could become a high-stakes battleground for retailers as a wave of consumer AI assistants promise to simplify every aspect of users' lives.
This time last year, the U.S. and China were locked in a fight over tariffs and critical minerals. Now, the globe's two largest economies are exploring deeper economic ties in some cases and common ground on AI risks.
Why it matters: Xi's visit to Washington this week tests whether the economic thaw that has persisted for the past year has staying power.
The two sides have found more areas of overlapping interests without necessarily resolving the giant disputes that drove them apart in the first place.
The AI-related data center buildout may be fueling overall demand — and inflation — in ways that compel a response by the Federal Reserve, a top official said this morning.
Why it matters: After last week's interest rate hike, it's now an open question how much further the Fed will push rates upward — and the more the AI buildout is viewed as a culprit, the higher rates will need to go to get aggregate demand and supply into balance.
Nscale, a London-based AI hyperscaler, on Friday filed for its initial public offering.
Why it maters: This would be the first major AI listing since the safety debate exploded into the mainstream and Anthropic — a major Nscale customer — talked about "pacing the frontier."
State attorneys general have become America's top antitrust cops, believing that federal regulators have become too quick to approve or settle the thorniest of deals.
Not surprisingly, the Trump administration doesn't like that too much.
Currency traders largely shrugged off the Bank of Japan's decision to raise its key interest rate to a 31-year high Friday.
Why it matters: It's the latest example of the challenge economic officials face in managing markets that are increasingly jumpy about inflation and large government debts in what seems to be a new, higher-interest-rate environment for the world economy.
