Nadella's Hedge: Microsoft Wants To Make AI Models Cheap - Then Own The Rails They Run On

Cuba Expands Market Reforms As Socialist Economy Buckles Under Trump Pressure Granma, the official newspaper of the Communist Party of Cuba's Central Committee, reported Wednesday that Havana is easing restrictions on private businesses and self-employed workers as it attempts to stabilize an economy battered by decades of failed socialist policies and renewed pressure from the Trump administration. "The updated regulations eliminate restrictions, broaden the scope of business activities for micro, small, and medium-sized enterprises (MSMEs) and cooperatives, and incorporate new opportunities in commerce, transport, industry, and services," Granma wrote in...

Bessent Convenes G20 Finance Chiefs To Confront China's $1.2 Trillion Trade Surplus Treasury Secretary Scott Bessent will meet with G20 finance ministers and central bank governors later today in Asheville, North Carolina, to discuss strategies for reviving economic growth, correcting global imbalances, reassessing trade relationships with China, and addressing the sovereign debt mess. The agenda today will also include plans to deepen Iran's economic isolation, Reuters reported, citing a senior US Treasury official. The discussions signal a continuation of the financial-pressure campaign Bessent unveiled last week (read here). "The world cannot have...

Futures Slide From Record As Oil Jumps On Hormuz Tanker Attacks, 30Y Yield Hits 2002 High US equity futures are sliding from Tuesday's record close as oil climbs back above $100, global bond yields resume their ascent and the AI bubble debate makes an unwelcome comeback. As of 8:00am ET, S&P futures are 0.4% lower, trading around 7,844, while Nasdaq 100 and Dow futures drop 0.6%; small caps are also under pressure with Russell 2000 futures down 0.3-0.4% as usual. On Tuesday the S&P 500 rose 0.6% to close at...