Microsoft Freezes Hiring In Cloud And Sales As Stock Suffers Worst Start To Year On Record

What 122 Universal Basic Income Experiments Actually Show Authroed by Vance Ginn via the Daily Economy, Artificial intelligence has become the latest excuse for reviving one of the oldest bad ideas in economic policy: a universal basic income. Recent pieces in Newsweek, the LSE Business Review, and Fortune have all helped push the idea that AI may soon wipe out so many jobs that Washington will need to send everyone a check. Image Credit: Shutterstock That makes for a catchy headline. It also makes for terrible economics. The right question is not whether AI...

Circle Plunges Most Ever On Stablecoin Legislation, As Tether Prepares Full Audit Circle Internet Group, the issuer of the USDC stablecoin, plunged the most on record as investors reacted to potential stablecoin regulation changes that could make the firm’s cryptocurrency less attractive to large holders, as it would be stripped of interest payments. Concerns that a competitor is readying a move into the US market also hurt Circle’s share price. The stock declined as much as 22%, its steepest intraday drop ever, and leading losses across crypto-linked equities. Coinbase fell as...