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U.S. strikes suspected Venezuelan cartel boat

admin - Latest News - October 17, 2025
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The U.S. military carried out a strike against an alleged Venezuelan drug cartel boat in the Caribbean Sea and there were survivors, according to a U.S. official. 



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Oct. 17, 2025, 5:00 AM EDTBy Rob WileThe torrent of billion-dollar investment announcements related to artificial intelligence has raised fears that the economy is sitting on a bubble that, if popped, could send it into a tailspin. Some on Wall Street aren’t buying it. In a note to clients published Thursday titled “AI Spending Is Not Too Big,” Goldman Sachs economist Joseph Briggs made the case that the billions being spent on building out data centers — known as capital expenditures, or “capex” — remains sustainable.In short: Briggs believes AI applications are leading to real productivity gains that will help boost companies’ bottom lines. Meanwhile, the cost of the computing processing needed to power those applications justifies the billions in spending, assuming the sophistication of the applications continues to improve. In total, Briggs expects U.S. companies to generate as much as $8 trillion in new revenue thanks to AI. “The key takeaway from our analysis is that the enormous economic value promised by generative AI justifies the current investment in AI infrastructure and that overall levels of AI investment appear sustainable as long as companies expect that investment today will generate outsized returns over the long run,” Briggs wrote. Other key Wall Street players have echoed his assessment. This week, JPMorgan Chase CEO Jamie Dimon compared AI to the internet, which led to its own “dot com” bubble but ultimately created real economic and societal impact. “You can’t look at AI as a bubble, though some of these things may be in the bubble. In total, it’ll probably pay off,” Dimon said at a conference hosted by Fortune. Predictions about the economic impact of AI continue to run the gamut, from only a modest bump in productivity to the end of all jobs as we know them. Evidence of current effects so far is mixed, though the roster of companies citing AI or automation as a reason for job cuts — whether they actually intend to meaningfully increase its use — continues to grow.Amid all those variables, AI’s biggest impact has arguably been on stock returns. Despite some recent drawdowns, major U.S. stock indexes continue to sit near all-time highs, thanks largely to gains from tech companies participating in the AI boom. Peloton turns to AI in hope of boosting slumping sales03:41On Thursday, tech stocks got another lift when chip manufacturer Taiwan Semiconductor Manufacturing Co. (TSMC) reported record profits and soaring revenues. TSMC is the main supplier of semiconductors for Nvidia — the most valuable publicly traded company in the world — and it also counts Apple, Qualcomm and AMD as clients. “Our conviction in the megatrend is strengthening, and we believe the demand for semiconductors will continue to be very fundamental as a key enabler of AI applications,” TSMC Chief Executive C.C. Wei told analysts on an earnings call. Briggs of Goldman didn’t offer a direct comment about whether his analysis means AI-related stocks themselves have room to run. And there are growing signs that many investors now believe that whatever AI’s broader economic payoff is, stock valuations have become stretched. In its latest weekly investor sentiment survey, the American Association of Individual Investors found bullish sentiment had dipped below its historical average of 37.5% for the first time in five weeks, with 55% of respondents agreeing “stocks in general are overvalued.” Briggs did warn that some of the companies whose shares have had the greatest run-ups so far won’t necessarily be the ones who end up reaping the greatest overall returns from the AI revolution.“The ultimate winners from infrastructure builds are determined by a complex set of factors including timing, regulation, and market competition,” he wrote. Eventually, Briggs said, computing costs will decrease, meaning some proportion of the current AI spending boom will look overdone in hindsight. But given a 15% boost to productivity, a slower adoption timeline and other factors, current spending levels on AI investment are sound, he added. “While investment should eventually moderate as the AI investment cycle moves beyond the build phase and declining hardware costs dominate, the technological backdrop still looks supportive for continued AI investment,” he wrote.Jim Cramer, host of CNBC’s “Mad Money,” had a similar assessment this week, comparing the current AI moment to the dawn of the railroad age. “I am telling you, this is just the beginning,” he said. While not every company riding the wave will survive, the build-out itself changed the economy forever, he said, and “once the losers got wiped out, the winners won big.” Rob WileRob Wile is a Pulitzer Prize-winning journalist covering breaking business stories for NBCNews.com.
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Nov. 12, 2025, 5:00 AM ESTBy Scott Wong, Ryan Nobles and Lillie BoudreauxWASHINGTON — Democrats shut down the federal government to secure a key demand: extending health care subsidies for millions of Americans.After a more than 40-day standoff, they threw in the towel — with no guarantee from Republicans that they would agree to renew the expiring Obamacare tax credits.Progressive activists and their Democratic allies in Congress, who had wanted the party to fight on longer, decried it as a monumental “cave” to an authoritarian in Donald Trump.But others in the party see a silver lining in the six-week standoff. The eight Senate Democrats who bucked their own leadership and negotiated an end to the longest shutdown in American history said the bipartisan deal protects federal workers who had been laid off during the shutdown — at least temporarily.Kornacki: Trump and Republicans ‘took a hit’ in approval ratings during government shutdown17:05More importantly, they said, the grueling shutdown that is expected to end in the coming days has “crystallized” the battle lines in the next major political fight over health care that is sure to spill into the 2026 midterm election year. It also underscored Trump’s cruelty, Democratic leaders argued, as the White House fought to halt food stamp payments to states during the shutdown.While emotions are raw and finger-pointing rampant in the wake of the deal, the Democratic Party was unified during most of the record 42-day shutdown, demonstrating for the first time it could take on Trump, rev up the progressive base and turn out voters at the polls, as it did in this month’s elections.“I think the Democrats did … some of the best messaging I think we’ve ever had in terms of talking about affordability and talking about health insurance,” said Sen. Ruben Gallego, D-Ariz., who voted against reopening the government. “And I think that was the reason why you saw the results coming in, in New Jersey and Virginia, and that you saw that the polling was going our way.”Small winsAmong the eight Senate Democrats who struck a deal with the White House and Majority Leader John Thune, R-S.D., four were former governors — pragmatists used to working across the aisle who argue you don’t always get what you want in legislation.The agreement includes a “minibus” of three appropriations bills, which will fund some parts of the government through next fall. The rest of the government will be funded through Jan. 30.The deal includes funding of the food assistance program known as SNAP for the rest of the fiscal year through September 2026, meaning families will be fed and food stamps can’t be used as leverage in any funding fight in the coming months.The group of eight also got some wins for federal workers, who have been under siege since Trump’s inauguration, facing aggressive Department of Government Efficiency cuts and the consolidation of some agencies, like the U.S. Agency for International Development.They got the Trump administration to agree to reinstate federal workers who were laid off during the shutdown through reductions in force, or RIFs. And they secured language barring future mass firings for the duration of the resolution that keeps the government open through January.It’s a win for “federal employees who are not going to be traumatized by RIFs going forward,” said Democratic Sen. Tim Kaine, the former governor of Virginia, a state home to nearly 150,000 civilian federal workers. “I’ve got some folks who didn’t like the vote, but I’m going to have a whole lot of federal employees who are going back to work and they’re getting their paychecks, and they can live through the holidays without worrying that they’re going to get a bad email at 5 a.m. tomorrow morning that they’re laid off.”“They have been living under a cloud of anxiety since Jan. 20, and we’ve lifted that cloud to some degree,” Kaine added. Crystallizing the health fightThe deal fell far short when it comes to health care. Democrats failed to win an extension of Affordable Care Act tax credits that were boosted during the Covid-19 pandemic and are set to expire on Dec. 31. Instead, they secured only a promise from Thune that the Senate will vote on a bill to extend the health subsidies by the end of the second week of December. The House has made no such promise.“Obviously, the Democrats did not hold the line,” said a disappointed Sen. Elizabeth Warren, D-Mass., who voted against the funding bill.“Look, I think it was a terrible, terrible vote at a time when we have a broken health care system,” added another progressive, Sen. Bernie Sanders, I-Vt., who caucuses with Democrats.Drawing out the high-stakes shutdown through October and into the November ACA open enrollment period served two purposes for Democrats, members on both sides of the deal said. It gave them time to educate the public about an issue few in the country were talking about — the expiring subsidies — and came as millions of Americans began feeling the sticker stock firsthand as they received notices of skyrocketing monthly premiums for 2026.“What happened over the last 40 days is we crystallized the fight about health care for the American people and made it clear who’s holding that up,” retiring Sen. Jeanne Shaheen, D-N.H., a key negotiator and former governor who has authored a one-year extension of the subsidies, told NBC News.“It’s President Donald Trump, it’s Speaker Johnson and it’s the Republicans who have been unwilling to do anything to address the rising costs of health care,” Shaheen said.#embed-20251002-shutdown-milestones iframe {width: 1px;min-width: 100%}The GOP’s stunning, unsuccessful attempt to repeal Obamacare during Trump’s first term helped propel House Democrats to the majority in the 2018 midterms. Democrats believe it’s a good issue for their party, and one that will again help them take back control of the House next year.Amid this week’s circular Democratic firing squad, party leaders are desperately urging their members to keep the heat on Republicans, particularly vulnerable ones facing tough re-election bids.“It’s critical that we continue to highlight the health care crisis that the Republicans refuse to come to the table to try and solve, and call out by name our Republican colleagues in swing seats refusing to extend health care subsidies on the insurance marketplace,” Rep. Suzan DelBene, the head of the House Democrats’ campaign arm, wrote in a memo to her colleagues.“Please stay disciplined and focused in communicating that the House Republicans best positioned to stand up to President Trump and Republican leadership on behalf of their constituents to end this crisis, have refused,” she said.40-day fightLiberal activists and even mainstream Democratic voters had been clamoring for a fight with Trump as the president ran roughshod over the Democratic opposition and even the GOP-controlled Congress.Rep. Veronica Escobar, D-Texas, a member of the powerful House Appropriations Committee that oversees government spending, said she’s not happy with how the shutdown saga ended and has even called for new Democratic leadership in the Senate.But she doesn’t consider the past 40 days a “complete failure.”“We didn’t get what we wanted, but it certainly elevated the consequences of the health care crisis, which is about to be made significantly worse,” Escobar, a member of the Congressional Progressive Caucus, said in an interview. “And it has demonstrated that Republicans are unwilling to solve that and other crises confronting the American people.”“I’m very proud of the unity of purpose we demonstrated,” she continued. “The majority of the American people understood we are fighting for them.”Scott WongScott Wong is a senior congressional reporter for NBC News. Ryan NoblesRyan Nobles is chief Capitol Hill correspondent for NBC News.Lillie BoudreauxLillie Boudreaux is a desk assistant at NBC News.
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