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- How a False Nuclear Claim About Iran Ricocheted From India to Washington
A dubious post that spread on X became the basis of false claims that Iran’s leadership had declared it a nuclear power. [TheTopNews] Read More.4 hours ago - Should I Publicize a Bad Publicist?Plus: An intern considers whether to give the boss an honest review. [TheTopNews] Read More.4 hours ago
- As A.I. Data Centers Spread, Pressure Mounts to Share ProfitsPolicymakers around the country are maneuvering to ensure that tech giants aren’t the only ones who stand to benefit. [TheTopNews] Read More.4 hours ago
- Mark Cuban tells Ro Khanna ‘you don’t understand business,’ th...
Mark Cuban told Rep. Ro Khanna, D-Calif., that he "doesn't understand business" during a heated clash over California's proposed 5% billionaire wealth tax, warning it could drive startup founders and investors out of the state.The exchange centered on California's Proposition 40, a controversial ballot measure that would impose a one-time 5% wealth tax on residents with more than $1 billion in assets.The measure has been endorsed by the California Democratic Party, while some notable leaders, including Gov. Gavin Newsom, have expressed opposition.In a video posted on X on Saturday, Khanna made the case for the tax, arguing that it would help preserve health care for working-class Californians. He said the "Sacramento establishment" and lobbyists opposing the measure were "blatantly out of touch."STEVE HILTON WARNS CALIFORNIA ECONOMY WILL 'ABSOLUTELY COLLAPSE' UNDER 'INSANE' BILLIONAIRE TAXCuban responded by arguing that founders of rapidly appreciating startups can become billionaires on paper without having hundreds of millions of dollars in liquid assets available to pay the proposed tax."They are the definition of cash poor, stock rich," Cuban wrote on X.He warned that the measure could cause startup founders and investors to leave California."If this passes, only idiot startup founders stay in Cali," Cuban wrote.TRUMP WARNS NEW HOCHUL, MAMDANI PIED-À-TERRE TAX COULD ACCELERATE NYC WEALTH EXODUSCuban went further, warning that the measure could also influence where he invests."I will make NOT being in California a pre requisite for an investment," he continued."Ideology is not a strategy Ro," he added.Khanna then proposed a workaround for founders whose wealth is largely tied up in private-company stock."Why not a non recourse loan for pledged stock as collateral for this situation?" Khanna wrote.KEN GRIFFIN'S NYC SKYSCRAPER MOVES FORWARD DESPITE FEUD WITH MAYOR ZOHRAN MAMDANIKhanna proposed addressing the concerns surrounding illiquid founders by allowing them to pledge shares in their companies as collateral for a government loan that could then be used to pay the wealth tax.The loan could remain outstanding for roughly 10 years, after which the founder would either repay the government in cash or the government would take possession of the pledged shares. Because the loan would be nonrecourse, the founder would not be personally liable if the company failed.Cuban blasted the proposal."Ro, that's insane," he wrote.Cuban argued that California would effectively lend founders money that would immediately be returned to the state as payment of the tax, meaning the arrangement would initially generate no additional cash revenue… [TheTopNews] Read More.6 hours ago - Parents ‘watering down baby milk’ over high costs
Moorside Baby Bank say parents are turning to unsafe practices over the rising cost of essentials. [TheTopNews] Read More.7 hours ago - Waymo gets regulatory approval to scale up robotaxi service across California, e...Waymo announced Friday that it is expanding its autonomous ride-hailing business across Northern and Southern California, including into two new major markets.The Alphabet-owned company said it plans to scale up its existing services across the San Francisco Bay Area and Los Angeles while bringing its robotaxi service to Sacramento and San Diego.The announcement comes after the California Department of Motor Vehicles authorized Waymo to operate in the additional areas last year. On Friday, the California Public Utilities Commission (CPUC) approved the company's application to expand its autonomous ride-hailing service."Big news for the Golden State — we have received the CPUC's approval to expand our autonomous ride-hailing service across the SF Bay Area and LA, and bring our service to Sacramento and San Diego," Waymo said in a post on X.WAYMO RECALLS MASSIVE AUTONOMOUS FLEET AFTER INCIDENT FLAGS MAJOR SAFETY ISSUEThe company did not provide a timeline for launching service in the new areas but said the expansion would be "gradual and guided by our safety framework."Waymo called the regulatory approval an important step in its California expansion."This is an important milestone that will allow Waymo to bring the safety and mobility benefits millions of Californians already enjoy to more communities across the state," the company said in a press release.The company currently operates thousands of autonomous vehicles across the U.S., including in San Francisco, Los Angeles, Phoenix and Austin.ZOOX CEO SAYS AUTONOMOUS VEHICLES NEED REGULATION MONTHS AFTER ROBOTAXI DROVE INTO LAS VEGAS FIRE SCENEIn February, Waymo announced plans to expand into Chicago as it seeks to establish a foothold in the Midwest.The company said it had begun "laying the early groundwork" for operations in Chicago, starting with mapping and manual vehicle testing.Waymo has also faced several recalls this year. Most recently, the company recalled nearly 4,000 robotaxis in June after more than a dozen incidents in which autonomous vehicles entered closed freeway construction zones, according to the National Highway Traffic Safety Administration (NHTSA).GET FOX BUSINESS ON THE GO BY CLICKING HERENHTSA said a software issue could allow affected vehicles to enter closed freeway construction zones and continue traveling at posted speeds. Regulators said the vehicles could fail to recognize or properly respond to certain construction-zone closures.FOX Business has reached out to Waymo for additional information, including when the expanded California services are expected to launch.FOX Business' Bradford Betz and Brittany Miller contributed to this report. [TheTopNews] Read More.9 hours ago
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