Big names missing from Trump’s quantum investment - Yahoo Finance

What was most striking about the US government’s $2 billion in grants and investments across nine quantum computing companies were the names that were left off the list: Google, Microsoft, and IonQ.Cohen & Company Capital Markets’ Brandon Sun, who advises quantum companies on going public through SPACs, says the omission could amount to a “comparative disadvantage” for the quantum companies that don’t get the Trump administration’s blessing, an implicit nod that could serve as a precursor to further government contracts. Microsoft declined to comment. Google and IonQ didn’t respond to requests for comment.The Trump administration’s move to take equity stakes in tech companies marks a change from years past, when the US government would issue grants and contracts to seed smaller ventures. But there are still a lot of details to iron out.What the administration announced were actually letters of intent, rather than finished deals. We still don’t know whether the funding comes with strings attached, one person familiar with the matter told Semafor, like technological milestones needed to unlock funding, as was the case with USA Rare Earth.The US is trying to build up its domestic supply chain as quantum technology advances, Scott Crowder, vice president of quantum adoption at IBM, told Semafor. “Even though the discussion around [quantum computing] is still, ‘Does it exist,’ the next question that follows very rapidly is ‘How do you build 100 of them?’” he said.IBM predicts it will create its first effective, scalable system in 2029. “This is the time you need to make the investment to be ready for fault tolerant systems and manufacturing scale,” he said.— Rachyl JonesADTop StoriesHow Trump lost Senate RepublicansKevin Lamarque/ReutersSpaceX IPO filing lays out Musk’s interplanetary manifestoGabriel V. Cardenas/ReutersIsrael’s Iran stance changes MidEast calculusAmmar Awad/ReutersOil price jump after Iran says it will not submit to USIranian President Masoud Pezeshkian. Iran’s Presidential website/WANA.Saudi Arabia freezes consultancy paymentsHamad I Mohammed/ReutersRepublican senators back Bolivia’s PazDeepMind founder Demis Hassabis on what Google AI products say about ‘singularity’Manuel Orbegozo/ReutersNovo Nordisk lets Canadian patent expireHollie Adams/ReutersThe Worldat a GlanceRetail signals portend trouble for US consumersUpdated May 21, 2026, 6:39pm EDTMay 21, 2026, 10:39pm UTCPostEmailWhatsappCopy linkCopy linkMike Segar/File Photo/ReutersMajor US retailers suggested shoppers are reining in spending as the Iran war raises prices on essential goods.Walmart on Thursday reported a worse-than-expected outlook, noting that its sales were driven by lower-price goods.The average number of gallons a customer buys at Walmart gas stations has fallen to 2022 levels, in an “indication of stress” amid soaring fuel prices, the company’s finance chief said.A Target executive echoed those fears, saying this week that “sentiment has been declining recently.”The signals spell trouble for an economy that has chugged along thanks in part to “resilient” consumers.US manufacturing activity picked up this month, new data showed, as companies stock up their inventories to protect against potential shortages and price hikes.— J.D. CapeloutoWar dents Saudi’s efforts to diversify economyUpdated May 21, 2026, 6:44pm EDTMay 21, 2026, 10:44pm UTCPostEmailWhatsappCopy linkCopy linkHamad I Mohammed/ReutersThe Iran war is undermining Saudi Arabia’s efforts to diversify away from oil, while boosting the kingdom’s oil revenues.Riyadh ordered government entities to freeze payments to strategy advisers, management consultants, and law firms, which were central to the kingdom’s efforts to reinvent its economy and become a global business and entertainment hub, Semafor reported.The Esports World Cup was moved from Saudi Arabia to Paris because of the war, and the country’s sovereign wealth fund recently pulled out of LIV Golf.But the conflict is delivering a fresh oil windfall for the kingdom.Thanks to its ability to export via the Red Sea and rising oil prices, Saudi oil export revenues jumped to a more than three-year high in March.— J.D. CapeloutoADChina looks for signs of optimism in its housing marketUpdated May 21, 2026, 6:40pm EDTMay 21, 2026, 10:40pm UTCPostEmailWhatsappCopy linkCopy linkFlorence Lo/File Photo/ReutersEconomists debated whether there’s light at the end of the tunnel for China’s multiyear property slump.Home prices in the country’s largest cities have ticked up this year, and sellers’ “panic listings” have fallen.Some analysts “see a turning point” in the crisis and predict home prices will start recovering later this year, The New York Times wrote.Others argue the uptick in prices is just a lull before another downturn. China’s economy still faces steep challenges.Core unemployment is hovering near record highs, according to data released this week. Growth in investment, industrial production, and retail sales all slowed in April. And corporate earnings are lagging behind stock market valuations.— J.D. CapeloutoTrump postpones signing AI and cybersecurity orderUpdated May 21, 2026, 6:35pm EDTMay 21, 2026, 10:35pm UTCPostEmailWhatsappCopy linkCopy linkUS President Donald Trump on Thursday postponed signing an executive order on AI and cybersecurity over concerns it could shrink the country’s AI lead over China. The order laid out “a voluntary framework” for AI firms to share their new models with the government before their public release, stemming from concerns that high-powered AI systems, like Anthropic’s unreleased Mythos, could pose cybersecurity risks to national security and the economy. AI companies had already been briefed about the directive, but Trump said he “didn’t like certain aspects of it.” Still, the order illustrates his administration’s deepening reach into private enterprise: The government said Thursday it was taking more equity stakes in tech companies in a bid to boost the quantum-computing industry.— J.D. CapeloutoADElon Musk’s SpaceX eyes record $80B IPO Updated May 21, 2026, 7:00am EDTMay 21, 2026, 11:00am UTCPostEmailWhatsappCopy linkCopy linkSteve Nesius/ReutersSpaceX’s IPO filing revealed the company’s changing direction. Elon Musk’s firm expects to raise about $80 billion at a $1.75 trillion valuation, by far the largest public offering in history. It reported rapidly increasing revenue — $18.67 billion in 2025, up 33% year-on-year, most of it generated by its satellite broadband arm Starlink. But it also announced a $4.94 billion net loss, driven by its merger with Musk’s AI firm xAI, on which SpaceX spent $20 billion last year. The filing predicts enormous future growth, much of it from the heavy-duty rocket Starship, expected to enter service this year, but also from AI: Musk has bet big on orbital data centers to meet growing compute demand.— Tom ChiversOil price jump after Iran says it will not submit to USUpdated May 21, 2026, 9:43am EDTMay 21, 2026, 1:43pm UTCPostEmailWhatsappCopy linkCopy linkIranian President Masoud Pezeshkian. Iran’s Presidential website/WANA.Oil prices jumped to around $100 a barrel after Iran’s president said his country would not be cowed into surrendering. Despite two Chinese tankers making it through the Strait of Hormuz, crude prices jumped by around 3% after Masoud Pezeshkian said it was a “delusion” that Iran would be forced into submission. While the oil market has shown remarkable resilience in the face of the largest energy shock in history, it is fast approaching a breaking point, Reuters’ energy columnist argued. Global supplies are dwindling, while countries across the world are accelerating their push to cut back on fossil fuel consumption, whether by greening their grids or incentivizing EV uptake. “Where things stand today is already somber” for the oil market, Bloomberg’s Javier Blas wrote.— Jeronimo GonzalezPakistan seeks to revive deadlocked US-Iran talksUpdated May 21, 2026, 7:27am EDTMay 21, 2026, 11:27am UTCPostEmailWhatsappCopy linkCopy linkPakistan’s military ruler is due in Tehran in a bid to revive deadlocked US-Iran ceasefire talks, but with his country facing an increasingly tricky balance. Once a pariah in Washington, Islamabad has recast itself as a mediator in the Middle East conflict, but is having to manage complex ties: It has sent thousands of soldiers and a squadron of jets to Saudi Arabia, Reuters reported, as part of a mutual defense pact being tested by attacks from Iran, whose materiel Pakistan has recently housed. “For Pakistan, the best outcome is an end to the Iran war,” a Foreign Policy columnist wrote. “That would … reduce the pressure that it feels as it walks the tightrope between Iran and its Arab rivals.”— Prashant RaoUS indicts former Cuban President Raúl CastroUpdated May 21, 2026, 6:41am EDTMay 21, 2026, 10:41am UTCPostEmailWhatsappCopy linkCopy linkThe US indicted former Cuban President Raúl Castro, potentially setting the stage for a military intervention in the island nation. The indictment alleges Castro was responsible for shooting down two civilian planes carrying aid to Cuba in 1996. Washington appears to be following the same playbook it used to oust the former president of Venezuela, first building a legal case and then deploying military assets to the region: The USS Nimitz aircraft carrier arrived in the Caribbean on Wednesday. Meanwhile, the situation in Cuba remains dire amid lengthy power cuts that have left many, including hospital patients, struggling. But some remain hopeful: “Something good has to come out of all this,” a Havana resident told The Wall Street Journal.— Jeronimo GonzalezIsraeli minister prompts outrage over activist videoUpdated May 21, 2026, 9:19am EDTMay 21, 2026, 1:19pm UTCPostEmailWhatsappCopy linkCopy linkIsrael’s security minister posted a video showing him taunting pro-Palestinian detainees, sparking condemnation from some of the country’s closest allies. The US ambassador to Israel said the minute-long video posted by Itamar Ben-Gvir — which shows security officers manhandling members of an international aid flotilla — had “betrayed [the] dignity of his nation.” Germany’s ambassador too said it was “wholly unacceptable,” a rare sign of criticism from the European nation, which must walk a tightrope given its historic relationship with Israel. While Berlin says it “stands by Israel’s side in deep friendship,” a survey published last year showed a majority of Germans believe Israel’s actions in Gaza amount to genocide.— Jeronimo Gonzalez US sends deportees to Sierra LeoneUpdated May 21, 2026, 6:42am EDTMay 21, 2026, 10:42am UTCPostEmailWhatsappCopy linkCopy linkLeonardo Fernandez Viloria/ReutersA plane carrying nine US deportees arrived in Sierra Leone on Wednesday, a move widely condemned by rights groups and experts.

The West African country joins several other nations on the continent that have agreed to receive third-country migrants deported from the US. Despite external criticism, Washington’s immigration crackdown — which has led to the lowest number of undocumented crossings of its southern border in years — remains broadly popular among Republican voters; a recent poll showed more than three-quarters want the next party candidate to keep the same direction on immigration. But the policy could have considerable economic consequences: A recent estimate suggests the crackdown could lead to almost $500 billion in lost tax revenue over the next decade.— Jeronimo GonzalezNvidia beats on earnings, but faces headwindsUpdated May 20, 2026, 6:29pm EDTMay 20, 2026, 10:29pm UTCPostEmailWhatsappCopy linkCopy linkGo Nakamura/Pool/ReutersNvidia’s revenue topped estimates for the latest quarter, the chip giant reported Wednesday, but it faces challenges ranging from macroeconomic headwinds and its China business to sky-high market expectations.Despite its blockbuster earnings streak, Nvidia shares have tumbled following the past three quarterly reports.“Analyst expectations may have hit unattainable highs” for the world’s most valuable company, CNBC wrote.Beijing reportedly banned a Nvidia gaming chip during the US-China summit, and much will depend on what the company says about its China sales.US bond market jitters stemming from the Iran war also threaten the AI boom, which Nvidia is central to, Bloomberg reported.— J.D. CapeloutoMeta begins layoffs amid rising AI angstUpdated May 20, 2026, 6:30pm EDTMay 20, 2026, 10:30pm UTCPostEmailWhatsappCopy linkCopy linkMike Blake/ReutersMeta began laying off thousands of workers on Wednesday, with plans to axe 10% of its staff to offset AI costs, and move another 7,000 into AI-focused roles.The market may respond positively when tech companies cite AI for layoffs — Meta’s shares went up Wednesday — but the industry-wide AI pivot is stoking angst among the public, particularly young people entering a tough job market.Speakers have been booed for mentioning AI in US graduation speeches.AI is rapidly advancing, and the growing backlash against it is also “all but unprecedented in its speed,” The Wall Street Journal wrote.One reason is that Americans “know our government is too sclerotic to handle [AI],” a New York Times columnist argued.— J.D. CapeloutoOpenAI, SpaceX IPOs on deckUpdated May 20, 2026, 6:24pm EDTMay 20, 2026, 10:24pm UTCPostEmailWhatsappCopy linkCopy linkCarlos Barria/Gonzalo Fuentes/ReutersThe market is bracing for two massive initial public offerings from two tech rivals. Elon Musk’s SpaceX on Wednesday officially disclosed plans to list on the Nasdaq. But OpenAI, led by Sam Altman, who this week fended off a lawsuit from Musk — threatens to steal the thunder from SpaceX, with a confidential filing potentially coming this week, The Wall Street Journal reported. The listings would make 2026 the largest year ever for IPOs: AI startup Anthropic is also exploring a debut. OpenAI will likely face considerable challenges, however, including questions from investors over whether it can generate enough revenue to support its data center spending, amid fierce competition with Anthropic for customers.— J.D. CapeloutoPutin leaves China without pipeline dealUpdated May 20, 2026, 6:15pm EDTMay 20, 2026, 10:15pm UTCPostEmailWhatsappCopy linkCopy linkThe Russian president’s trip to China this week reflected the countries’ shared opposition to a US-led world order, but Vladimir Putin left without an agreement on a long-stalled gas pipeline he urgently sought. The lack of a deal shows that “there are limits to the love” between the two partners, the BBC’s Russia editor wrote, even as Chinese leader Xi Jinping welcomed Putin with nearly identical ceremonies to those that greeted US President Donald Trump last week. Putin’s visit underscored a “growing imbalance” between China and Russia, while the back-to-back visits from Trump and Putin showed Xi is “now the power player to be reckoned with and courted,” The Washington Post wrote. Xi is reportedly heading to North Korea next week.— J.D. CapeloutoWestern nations let Russia in from the coldUpdated May 20, 2026, 6:28pm EDTMay 20, 2026, 10:28pm UTCPostEmailWhatsappCopy linkCopy linkChina Daily via ReutersEnergy price spikes from the Iran war are forcing Western countries to let Russia in from the cold.The US extended Russian oil waivers this week, and the UK on Tuesday softened sanctions on jet fuel refined in third countries using Russian oil, imports of which were banned since the invasion of Ukraine.The EU, meanwhile, may reopen formal communications with Moscow for the first time since the Ukraine war began, out of concern that Washington is distracted from peace talks by its conflict in Iran.But the Kremlin will struggle to take advantage. Ukrainian drone attacks have damaged oil infrastructure capacity and ports, pipelines, and refineries are already running close to their limits, Reuters reported.— Tom ChiversTrump suggests Iran talks in ‘final stages’Updated May 20, 2026, 6:13pm EDTMay 20, 2026, 10:13pm UTCPostEmailWhatsappCopy linkCopy linkStringer/ReutersThe US believes it is making progress with Iran in peace talks, but disagreements between Washington and Israel threaten to derail the diplomacy. US President Donald Trump reportedly held a tense call on Tuesday with Israeli Prime Minister Benjamin Netanyahu, who railed against a pact under consideration. Markets rebounded Wednesday after Trump said Washington is in the “final stages” with Tehran. But he has warned of US strikes if talks fail, prompting Iran to threaten to spread the war beyond the Middle East if attacks resume. “The central question now is not whether escalation may return, but how the next phase of the conflict could unfold,” an Iran scholar wrote, “and whether another round of war would fundamentally alter the strategic deadlock.”— J.D. CapeloutoChina, Russia offer veiled US critique during Putin visitUpdated May 20, 2026, 11:30am EDTMay 20, 2026, 3:30pm UTCPostEmailWhatsappCopy linkCopy linkMaxim Shemetov/Pool/ReutersGreat power maneuvering dominated global diplomacy. China’s leader hosted Russia’s president, arguing that the countries offered “calm amid chaos,” a veiled critique of US foreign policy. The EU, meanwhile, is mulling appointing a top-level envoy to talks with the Kremlin, ending a years-long communications moratorium following Russia’s invasion of Ukraine, suggesting that Moscow’s pariah status may be easing. Brussels also sought to smooth ties with Washington, finalizing a transatlantic trade deal even as the US drew down its troop presence in Europe. And the White House appeared to extend its truce with Beijing, with China confirming it had agreed to seek $30 billion worth of reciprocal superpower tariff cuts following last week’s summit with the US president.— Prashant RaoWar squeezes African, Asian economies furtherUpdated May 20, 2026, 8:09am EDTMay 20, 2026, 12:09pm UTCPostEmailWhatsappCopy linkCopy linkMonicah Mwangi/ReutersThe fallout of the Iran war deepened globally as countries struggled to contain the impact of rising fuel and commodity prices. Higher petrol costs have sparked deadly protests and strikes across Africa, with demonstrators in Comoros, Kenya, and Mozambique clashing with authorities in recent days. The continent is particularly vulnerable given it imports the vast majority of its fuels. And Indonesia — which has taken a considerable fiscal blow from the war — imposed export restrictions on certain commodities as it looks to boost government coffers. The war is hitting rich countries too: The UK Treasury is reportedly urging supermarkets to impose price caps on some groceries as the government vies to tame higher inflation.— Jeronimo GonzalezWHO head warns of Ebola ‘scale and speed’ Updated May 20, 2026, 8:21am EDTMay 20, 2026, 12:21pm UTCPostEmailWhatsappCopy linkCopy linkThe head of the World Health Organization said he was “deeply concerned about the scale and speed” of the Ebola outbreak in the Democratic Republic of Congo, which was already grappling with a significant aid shortfall. Authorities in Kinshasa have reported at least 131 deaths and 500 suspected cases, though cases have also been confirmed in Kampala, the capital of neighboring Uganda. Response efforts in the DRC have been hindered by budget strains at the WHO — which the US left this year — as well as sudden Western aid cuts to Africa. A roiling conflict in eastern DRC is compounding matters: “This outbreak is hitting a country already stretched to breaking point,” Oxfam said.— Jeronimo GonzalezChinese EV maker Dongfeng partners with Europe’s StellantisUpdated May 20, 2026, 8:19am EDTMay 20, 2026, 12:19pm UTCPostEmailWhatsappCopy linkCopy linkTingshu Wang/File Photo/ReutersEuropean auto giant Stellantis and Chinese carmaker Dongfeng unveiled a joint venture that raised the prospect of the Asian firm manufacturing EVs in France. The two are considering converting a French Stellantis factory to build Dongfeng brands so that the latter can meet made-in-Europe regulations. EV sales are soaring on the back of the Iran war and ever-falling battery prices; the International Energy Agency forecast that one in three cars sold globally this year would be electric or plug-in hybrids, and has consistently underestimated EV sales growth in the past. Sales have slowed in China, the biggest market, but exports are still rising, and manufacturers are betting on ultra-fast charging as a way of sustaining adoption momentum, Wood Mackenzie noted.— Tom ChiversNvidia commits $90 billion to AI dealsUpdated May 20, 2026, 8:24am EDTMay 20, 2026, 12:24pm UTCPostEmailWhatsappCopy linkCopy linkNvidia committed $90 billion to AI deals to cement its grip on the industry. The world’s most valuable listed company will back developers, cloud providers, and infrastructure suppliers, tying more of the AI economy to its technology and accelerating the industry’s growth. But the deal spree faces regulatory hurdles — in one agreement, Nvidia will be “simultaneously acting as customer, supplier, and a prospective shareholder,” the Financial Times wrote, something likely to attract the attention of antitrust officials. The chip giant will release its quarterly results today, and markets will be closely watching to see if the AI spending boom’s momentum is sustained.— Tom ChiversThe US to indict former Cuban President Raúl Castro Updated May 20, 2026, 8:17am EDTMay 20, 2026, 12:17pm UTCPostEmailWhatsappCopy linkCopy linkThe US is expected to announce the indictment of former Cuban President Raúl Castro today, in what would be a major escalation of Washington’s campaign against the island nation. The US on Monday sanctioned top political and military officials, following a tightening of economic measures that have ground Cuba’s economy to a halt and sparked rare anti-government protests. US President Donald Trump has vowed to overthrow Havana’s leadership as he seeks to widen Washington’s influence in Latin America; in January, the US indicted Venezuela’s former leader as a pretext for toppling him. Trump administration officials have said a military intervention in Cuba is possible, but only if negotiations fail.— Jeronimo GonzalezMinnesota bans prediction marketsUpdated May 20, 2026, 8:26am EDTMay 20, 2026, 12:26pm UTCPostEmailWhatsappCopy linkCopy linkMinnesota became the first US state to ban prediction markets, in a move that widens the row over the platforms.

The White House is suing to overturn the ban. The markets were launched with high-minded ambitions of using the wisdom of the crowd to forecast future events, and help business leaders and politicians make better decisions. But they have been hit by insider-trading scandals, notably involving US military action in Venezuela and Iran. The companies have a major incentive to prevent insider trading, Semafor’s business editor wrote: Polymarket is more valuable as a tool to help big firms hedge investment risk than it is as a bookmaker for “US black-op nighttime raids.”— Tom ChiversTrump tightens command over GOPUpdated May 20, 2026, 8:13am EDTMay 20, 2026, 12:13pm UTCPostEmailWhatsappCopy linkCopy linkKylie Cooper/ReutersUS President Donald Trump gained ever tighter control over the Republican Party. GOP critics of the president were among the highest-profile losers across dozens of state and national primaries. Kentucky’s outspoken congressman Thomas Massie was defeated in the most expensive House primary ever; Trump enemies also lost in Georgia and Louisiana. The president has “near-total control” over the GOP, Semafor’s senior Washington editor wrote, but carries a 37% approval rating into the midterms: He is likely to lead “a party that’s both more loyal and less powerful.” Despite the results, opposition is unlikely to dissipate soon. A resolution to limit Trump’s war powers advanced in the Senate on the seventh attempt, after four Republicans voted with the opposition.— Tom ChiversTrump threatens ‘another big hit’ on Iran if talks fail Updated May 19, 2026, 6:19pm EDTMay 19, 2026, 10:19pm UTCPostEmailWhatsappCopy linkCopy linkKevin Lamarque/ReutersThe US and Iran remain far apart on the terms of a potential peace deal, raising doubts about finding an off-ramp to the conflict during a strained ceasefire. US President Donald Trump delayed strikes against Iran in light of ongoing negotiations, but on Tuesday threatened “another big hit” if talks failed, leaving the Middle East on edge, with mediators seeing little progress. The unpredictability poses a growing risk to energy markets and is muddying analysts’ crystal balls, Semafor’s Tim McDonnell wrote: One expert put the odds of renewed military escalation at 70%, while another predicted the Strait of Hormuz would reopen in June. Some NATO members have pushed for the alliance to help ships through the waterway if it hasn’t reopened by July. — Tasneem NashrullaForeign governments dump US Treasurys amid Iran volatility Updated May 19, 2026, 6:21pm EDTMay 19, 2026, 10:21pm UTCPostEmailWhatsappCopy linkCopy linkJeenah Moon/ReutersForeign governments are dumping US Treasury bonds to stabilize their currencies amid the energy shock and financial volatility triggered by the Iran war. Data showed seven of the top 10 foreign holders of US government debt trimmed their holdings of US Treasurys in March: Japan, to protect its currency, and China in response to short-term volatility, though Beijing has been steadily reducing its exposure to US dollar assets for years. Saudi Arabia and the UAE also shed their holdings as the war has stopped the oil-for-dollars trade. “US Treasury yields are flirting with levels last seen in 2007,” Semafor’s Liz Hoffman wrote, owing to a global bond selloff driven by fears of inflation and sustained high oil prices.— Tasneem NashrullaPutin to discuss long-delayed pipeline with Xi Updated May 19, 2026, 6:38pm EDTMay 19, 2026, 10:38pm UTCPostEmailWhatsappCopy linkCopy linkAlexander Manzyuk/ReutersRussian President Vladimir Putin’s visit to Beijing this week could clear a logjam for the construction of a long-delayed oil pipeline to China. Putin said earlier this month that a deal to increase overland flows eastward was “very close,” as the Kremlin’s battlefield strategy stalls out and its economic woes mount: Nearly one-third of Russian small businesses are considering closure or sale amid crushing inflation. The PS2 pipeline presents Moscow’s “only real chance” of offsetting the loss of its European markets, the Financial Times wrote. While Russia needs PS2 more than China, Beijing may approve it on the grounds that its seaborne supplies could be further disrupted by a resumption of hostilities in Iran, a Carnegie expert told The Economist.— Brendan RuberrySpaceX prepares for pre-IPO Starship launchUpdated May 19, 2026, 6:30pm EDTMay 19, 2026, 10:30pm UTCPostEmailWhatsappCopy linkCopy linkSteve Nesius/ReutersSpaceX is set to debut its Starship V3 rocket on Thursday in a key test of both its technology and investor confidence ahead of next month’s IPO. The first launch of the fully reusable V3 rocket, which the Elon Musk-owned rocket maker hopes will carry humans to the Moon in 2028, poses the “single most important pre-IPO catalyst remaining on SpaceX’s calendar” before its anticipated $1.75 trillion debut, the largest ever, a PitchBook analyst told Reuters. The launch comes as SpaceX is locked in a race with rival Jeff Bezos’ Blue Origin to design a lunar lander for NASA’s 2028 mission.— Brendan RuberryInflation hits US alcohol industry Updated May 19, 2026, 6:31pm EDTMay 19, 2026, 10:31pm UTCPostEmailWhatsappCopy linkCopy linkBryan Woolston/ReutersThe US alcohol industry, already struggling with falling demand, is being further hit by inflation.

The Jim Beam bourbon distillery in Kentucky has closed its still until at least 2027, and many other brands have done likewise: The state is sitting on 16.1 million unsold barrels, 10 years’ supply, having boosted production during the pandemic when people were drinking more at home. Americans are increasingly health-conscious, while trade wars have dented exports, The Wall Street Journal reported. The rising cost of alcohol is pushing even those who want to drink to do so less; $20 cocktails are too rich for most consumers’ wallets, Bloomberg noted, leading to the rise of more affordable versions using less expensive ingredients.— Tom ChiversChina’s auto CEOs become influencersUpdated May 19, 2026, 6:33pm EDTMay 19, 2026, 10:33pm UTCPostEmailWhatsappCopy linkCopy linkChina’s electric vehicle price wars have spilled into the attention economy. As profits plunge, Chinese auto executives are reinventing themselves as influencers, Nikkei reported: Xiaomi’s Lei Jun livestreamed a 15-hour nonstop road trip from Beijing to Shanghai, while Nio’s founder streamed himself cooking inside an SUV and sleeping in its trunk. The “online CEO” is a global phenomenon, with a 2025 survey showing that 74% of Fortune 500 CEOs maintain social media accounts. But some are discovering that chasing clout comes with pitfalls. One US executive was derided as the “Crying CEO” after posting an emotional video following layoffs. “When smearing you drives more online traffic, hate speech will surge like a tsunami,” Lei cautioned.— Brendan RuberryInflation fears persist globally Updated May 19, 2026, 7:21am EDTMay 19, 2026, 11:21am UTCPostEmailWhatsappCopy linkCopy linkElizabeth Frantz/ReutersThe Iran war’s inflationary pressures were unlikely to abate, analysts warned, even as US President Donald Trump said “serious negotiations” were underway with Tehran. Ratings agency Moody’s chief economist warned that the Federal Reserve would be forced to consider rate hikes. Traders are roughly 50-50 on rates either staying flat or rising by year-end, which would pile pressure on incoming Fed Chair Kevin Warsh: Trump nominated him on the expectation of cuts. The Bank of England and European Central Bank have both warned that they may raise rates, while Brasília raised inflation forecasts, saying oil prices had increased 25% since its March forecast.