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- The “trillion pound” oil fund the government believes Britain could ...
For the first time, the Treasury calculates how much the UK could have raised by investing North Sea proceeds. [TheTopNews] Read More.2 hours ago - The grads ditching the UK for a fresh start abroadWith graduate jobs hard to come by, more young adults are reported to be considering emigrating. [TheTopNews] Read More.3 hours ago
- Elon Musk says he will retaliate against Democrats who investigate him
Elon Musk vowed to push back on Democratic lawmakers who may seek to use oversight powers against him if they're able to gain control of one or both chambers of Congress.Musk responded to a story by Politico that detailed how Democrats have considered ways in which they could investigate the billionaire, as well as his businesses like Tesla and SpaceX."Live by the sword, die by the sword," Musk wrote in a post on his X platform."Those who pick fights with me should understand that I will find out who is really pulling the strings and come for them, not just their puppets," Musk added.ELON MUSK SAYS TESLA-SPACEX MERGER WOULD BE 'A GOOD IDEA' AS COMPANIES FORM SPECIAL COMMITTEESMusk has been a major donor to GOP candidates and worked with the Trump administration through the Department of Government Efficiency (DOGE), and his business dealings with the federal government through his various ventures are also likely to draw scrutiny from a potential Democratic majority.The billionaire helped launch DOGE at the outset of President Donald Trump's second term as a means of rooting out waste and promoting transparency about the federal government's spending.DOGE WEBSITE DEACTIVATES AFTER REACHING SELF-TERMINATION DEADLINE: ‘COME TO AN END’Musk was heavily involved with DOGE's operations until he departed DOGE and his role in the Trump administration in late May to refocus on his duties as the CEO of Tesla and SpaceX after his 130-day status as a special government employee expired, and he disagreed with aspects of the new administration's policies.DOGE's efforts included deferred resignations and buyouts of employees at federal agencies and contributed to a significant downsizing of the federal workforce, which contracted by about 250,000 employees during 2025, according to the Government Accountability Office (GAO).ELON MUSK LOSES TRILLIONAIRE STATUS AFTER TECH SELL-OFF ERASES BILLIONS FROM FORTUNEAside from DOGE's role in slashing the federal workforce, DOGE sparked calls for investigations over its role in accessing sensitive data like Social Security records, as well as withholding funds.Democratic lawmakers have also alleged there are conflicts of interest between Musk and the federal government given the contracts that his firms like SpaceX and Tesla receive from a range of agencies. [TheTopNews] Read More.4 hours ago - United Airlines CEO Scott Kirby doubles down on wealth tax support as a ‘m...United Airlines CEO Scott Kirby on Wednesday reiterated his support for a wealth tax as a matter of fairness amid criticism over his comments given his compensation.Kirby said in an interview with CNBC's "Squawk Box" that his prior comments in favor of a wealth tax were in response to a New York Times question about a non-consensus view that he holds, adding that "I'm not a politician, I'm not ever going to be in politics, nor am I a policy advocate for this or other programs.""I think a wealth tax in particular is a more fair – is just about fairness. Today, you probably pay 40% income taxes on your income. But if you're wealthy enough, you could put money aside – and by the way, I think it would apply to me – put money aside and let it grow forever, never realize income on it," he said. "You can let it grow forever and it never gets taxed. You get stepped-up cost basis at the end, and it never gets taxed.""That doesn't feel fair to me," Kirby said, adding that those are his views "if it was up to me, it's not up to me, so no one should be mad about one person's view. But if it was, I would have a system where we have lower income taxes and higher taxes on – some kind of taxes on the gain in wealth. At some point, I think those ought to be taxed."UNITED CEO SILENT ON $32M COMPENSATION AFTER CALLING WEALTH GAP A 'DANGER'"It's just a matter of fairness. You know, hard-working Americans pay 40% of their money in income [taxes]. I think as a matter of fairness, passive wealth growth ought to be taxed somehow. And it's just one guy's view, but that's what I think," Kirby said.The United Airlines CEO told The New York Times in a recent interview that wealth inequality poses a "danger" to American society and said that he would support a national wealth tax as well as "inheritance taxes that get close to 100% at some level."DOJ OFFICIAL TAKES SWIPE AT UNITED AIRLINES CEO AMID BACKLASH OVER WEALTH TAX PROPOSALKirby's comments about wealth taxes and inequality have drawn attention to his compensation at United Airlines. He received about $32.3 million in total compensation, including salary, stock awards and performance incentives during the airline's fiscal year 2025.United didn't respond to a previous… [TheTopNews] Read More.4 hours ago
- Meta ordered to pay $25B after jury finds it misled users on data privacyMeta Platforms has been ordered to pay $25 billion after a New Mexico jury found the company misled Facebook users over its handling of personal data and other practices in a case stemming from the Cambridge Analytica scandal.New Mexico Judge Francis Mathew issued the penalty Wednesday after jurors found last month that Meta made dozens of misleading statements to users."Facebook's wrongdoing — over the course of years and systematically broadcast to the public — goes to the heart of Facebook's core business practices," Mathew wrote in his order.The now-defunct Cambridge Analytica, which worked for President Donald Trump's 2016 campaign, obtained information from as many as 87 million Facebook users through a third-party app without their consent.META PUTS POPULAR NEW TOOL IN HANDS OF SMALL BUSINESSESNew Mexico sued Meta in 2021, accusing the company of misleading users about who could access their personal information and how it handled harmful content on the platform.Jurors found that 26 of 29 statements examined during the trial were misleading and determined that Meta committed more than 43 million violations of New Mexico's consumer protection laws.Mathew said the violations could have resulted in a penalty of more than $219 billion under state law but ultimately reduced the amount to $25 billion. Meta had urged Mathew to limit the penalty to $3.45 billion.New Mexico Attorney General Raúl Torrez said the ruling was one of the largest ever against Meta by a single state."It has been a long time coming holding Big Tech accountable," Torrez said. "I think today's judgment is a clear break with that past and a very clear warning to those in this space and beyond that we intend to protect our people and protect our consumers."META SETTLES FEDERAL TRIAL OVER CLAIMS FACEBOOK, INSTAGRAM ADDICT CHILDRENMeta said it plans to appeal the ruling."This ruling, and the Attorney General's approach to this enforcement, makes it all but impossible to do business in the state of New Mexico," C.J. Mahoney, Meta's chief legal officer, said in a statement. "At its core, this lawsuit seeks to impose a tax on speech to enforce new rules for what people can say online. We are confident we will prevail on appeal. In the meantime, Meta will continue to build a safe and free platform to connect millions of Americans, grow small businesses, and help the country maintain its competitive edge." Monte Mann, a business litigation partner at Armstrong Teasdale, said in a statement to… [TheTopNews] Read More.5 hours ago
- Southwest Airlines cuts 2026 profit forecast on higher fuel
Southwest Airlines became the third major U.S. airline this month to cut its 2026 profit forecast due to higher fuel prices. [TheTopNews] Read More.5 hours ago
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