Ferrari Fever Hits Samsung, SK Hynix Workers As AI Memory Boom Mints New Wealth

Barclays Warns Potential US Diesel Export Ban Could Backfire Senate Majority Leader John Thune revived discussion of a potential US diesel export ban with reporters Tuesday, a day after Interior Secretary Doug Burgum said any export halts on crude or petroleum products were unlikely to lower consumer prices. The divergence in messaging suggests growing pressure across the Trump administration to contain surging fuel costs ahead of the midterm elections as the global refining crisis pushed the US diesel crack spread to a record $117 a barrel early Wednesday morning. US Diesel...

5th Small Modular Reactor Validated Since June, Poised For Mass Production Another small nuclear reactor has achieved “criticality,” marking the fifth new reactor type to be certified as operationally viable in the United States since June, after none were certified for more than a half-century, as the nation’s “nuclear renaissance” quickly advances to commercial mass-production. Santa Clara, California-based Oklo’s Groves Isotope Test Reactor reached criticality on Aug. 5 at the company’s plant in Lockhart, Texas, and will produce isotopes for medicine, advanced manufacturing, scientific research, space exploration, and national security needs. Unlike...

Standard Chartered To Replace "Lower-Value Human Capital" With AI As Meta Layoff D-Day Nears The white-collar job-loss apocalypse, accelerated by AI, is increasingly concentrated in repetitive, data-intensive, and digitally native roles, with tech firms announcing layoffs one after another. While 'D-Day' for Meta layoffs is Wednesday morning, the London-headquartered international bank Standard Chartered announced on Tuesday plans to cut 15% of its corporate roles (or about 7800 jobs) by 2030 as part of a broader efficiency push amid the adoption of AI. STAN also raised its profitability targets, aiming for a 15%...