Oil hit $100 a barrel and Magnificent 7 stocks shed nearly $800 billion in market value on Thursday, as pessimism over steep AI spending and the Iran war dragged down global markets.
Zohran Mamdani’s appointments to steer New York’s economic development reflect the win-win of people-centered growth.
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President Trump is banning students majoring in degrees that don’t make enough money from taking out college loans. The Los Angeles Times reported Wednesday that the Education Department has finalized a rule that will force schools to prove that the loans students are taking out are paying off. Degrees for social work, art, religious studies, teaching aides, and music, and cosmetic certification programs will be hit the hardest. For-profit programs will also be hit particularly hard.While the Trump administration is framing the policy as “accountability” for higher education, and some are welcoming the move, others see it as an attack on those whose work is important regardless of salary. The Education Department intends to use IRS data to determine students’ salaries four years after they graduate and compare them to those of people similar in age who just have high school diplomas. If they’re below that baseline, that degree will be ineligible for loans. “We need social workers,” Mitchell said. “Whether it’s the fentanyl epidemic or homelessness in L.A., we need people who can work on the street with people who need it the most,” American Council on Education Ted Mitchell told the Times. Even some on the right are concerned. “The government shouldn’t punish people who pursue socially valuable callings just because in its judgment they don’t earn enough money,” said Gregory Baylor, senior counsel at Alliance Defending Freedom, a Christian nonprofit that the Southern Poverty Law Center lists as a designated hate group.“In certain fields of study, especially in the humanities, whether or not that program has been successful and has done a really good job in its educational mission might not be all that directly tied to immediate earnings potential,” added Stanford professor Jonathan Gienapp.The policy will be implemented in 2027.
In a fitting bit of corporate justice, IBM did the same thing to its vendors that its customers did to it, hoarding inventory of memory and power ahead of expected price hikes in its own supply chain.
The path from private ownership to a public stock exchange is shaped by more than corporate ambition. understanding.
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