In First Statement, Iran’s New Leader Says Strait of Hormuz Will Remain Closed and Attacks on US Bases Will Continue

Wall Street Keeps Testing AI Traders, But Most Are Still Underperforming Recent trading competitions suggest large language models are still unreliable portfolio managers, according to Bloomberg. Tests involving models from OpenAI, Anthropic, Google, and xAI have often delivered underwhelming results: many lost money, traded excessively, and made erratic decisions despite receiving identical prompts. In several cases, models appeared unable to stick to coherent strategies for more than a few trading sessions. Bloomberg writes that one of the clearest examples came from Alpha Arena, a competition created by startup Nof1. Eight models were...

New York's Millionaire Exodus Is Costing Billions In Lost Revenue Mayor Zohran Mamdani stood outside Ken Griffin's $238 million Manhattan penthouse in April and declared victory. "When I ran for mayor, I said I was going to tax the rich. Well, today we're taxing the rich," he said in a social media video marking the debut of New York City's first pied-à-terre tax, an annual fee on luxury properties worth more than $5 million whose owners do not live in the city full time. He promised the tax would raise...