New York City Mayor Zohran Mamdani and Amazon founder Jeff Bezos publicly disagreed over the impact of taxing billionaires on helping working-class New Yorkers. Bezos argued that doubling his taxes wouldn't aid a Queens teacher and advocated for eliminating federal income taxes for the bottom half of earners to better support working-class Americans. Mamdani countered by highlighting that some teachers would disagree with Bezos's claim. The debate coincides with Mamdani and Governor Kathy Hochul's support for a new pied-à-terre tax on luxury second homes worth $5 million or more, aimed at generating revenue to address city affordability and fund services. The proposed tax could raise between $340 million and $500 million annually, though some officials warn actual revenue might be lower due to changes in owner behavior.
In Q2 2026, top contributors to growth included Taiwan Semiconductor Manufacturing, Alphabet, United Rentals, Apple, and Visa. Alphabet’s Google Search and Cloud segments showed robust revenue growth of 19% and 63%, respectively, boosting operating i...
Jim Cramer cautioned that the recent rally in Big Tech stocks like Alphabet, Microsoft, Meta, and Amazon might be more about investor optimism than real improvements in their business fundamentals. Despite positive news such as Warren Buffett's endor...
Dave Brown, a senior vice president at Amazon Web Services (AWS) and a key figure since its early days, is leaving the company at the end of this month for a new role outside Amazon. Brown helped launch AWS's core EC2 service and later led its comput...
The rapid growth of hyperscale data centers, driven by AI demand, is causing U.S. electricity consumption to surge after a decade of stagnation. Experts predict data centers will use 11-16% of total electricity by 2030, with investments in these faci...
The global hybrid robots market is projected to grow from $5.68 billion in 2026 to $10.03 billion by 2030, with a CAGR of 15.3%. Growth is fueled by advances in AI, autonomous operations, and smart manufacturing, alongside rising demand for robots in...
