PCE inflation hits 3.8% in April, highest since May 2023, as Americans' savings rate plummets to 2.6%
The Federal Reserve's preferred inflation measure rose to 3.8% in April, driven by energy costs from the Iran war and ongoing tariff pass-through, while Americans' personal savings rate crashed to 2.6%—the lowest since June 2022 and a level not seen outside the 2008 financial crisis period in 65 years. With real disposable incomes falling and spending propped up by credit, over a third of Americans are relying on loans to cover expenses, creating a squeeze on household finances.
DeepSeek raises $7.4 billion at up to $59 billion valuation in first external funding round led by Tencent and CATL
Chinese AI lab DeepSeek is raising approximately $7.4 billion in its first external funding round at a valuation of $52–59 billion, reversing its prior policy of refusing outside capital. The round is led by Tencent and battery maker CATL, with founder Liang Wenfeng injecting $20 billion of personal capital, driven primarily by the need to offer employee equity to retain researchers and secure additional GPU capacity amid US chip export restrictions.
Trump administration dismantles $368 million deep-ocean observation network monitoring critical Atlantic current
The National Science Foundation has begun removing over 900 deep-sea sensors from the Ocean Observatories Initiative, a decade-old network critical to monitoring the Atlantic Meridional Overturning Circulation (AMOC) and other marine systems. Scientists warn the shutdown threatens U.S. scientific leadership and eliminates crucial data on a ocean current system that researchers fear could collapse this century with catastrophic global consequences.
Fertitta Entertainment to acquire Caesars Entertainment in $17.6 billion all-cash deal
Tilman Fertitta's Fertitta Entertainment has agreed to acquire Caesars Entertainment for approximately $17.6 billion in an all-cash transaction, including assumption of $11.9 billion in debt, at $31 per share—the largest casino acquisition in U.S. history. The deal faces significant regulatory scrutiny, particularly from Pennsylvania's Gaming Control Board, and creates concentrated market positions in several states that analysts warn could complicate approval.
Four Tren de Aragua gang members plead guilty to May 2024 Bronx double murder
Four members of the designated foreign terrorist organization Tren de Aragua pleaded guilty to murdering two unarmed New York City residents and shooting a third victim on May 24, 2024, in the Bronx. The convictions complete charges against all eight defendants in custody in the case, with sentences to be determined later by the federal judge.
Peru holds presidential runoff between Fujimori and Sánchez as voters choose next leader
Peruvians voted Sunday in a runoff election between conservative Keiko Fujimori and left-leaning Roberto Sánchez, with the winner to be sworn in July 28. The race is extraordinarily tight according to polls, with voter concerns dominated by corruption and surging crime, including a 1,000% increase in extortion between 2023 and 2025.
WMO forecasts 80% likelihood of El Niño returning by August 2026, with 90% odds of persistence through year's end
The World Meteorological Organization issued an urgent alert that an El Niño event has an 80% probability of occurring during June–August 2026, with 90% likelihood it will persist through November. Subsurface ocean temperatures in the central-eastern Pacific are more than twice those observed during the 2023 El Niño onset, and forecast models suggest it could become a historically strong or even 'Super' El Niño by fall or winter, increasing risks of record global heat, severe droughts, and extreme weather across multiple regions.
79th Annual Tony Awards Air Live Tonight on CBS Hosted by P!NK
The Tony Awards ceremony broadcasts live tonight from Radio City Music Hall, hosted by P!NK in her first time emceeing the event. The show features performances from Broadway's biggest stars, with *The Lost Boys* and *Schmigadoon!* leading nominations at 12 each, and includes special tributes to *Chicago*, *A Chorus Line*, and *The Book of Mormon*.
Dartmouth researchers find octopuses can use mirrors to locate hidden food — a skill previously seen only in vertebrates
A study published in Current Biology found that three California two-spot octopuses successfully learned to use mirrors to locate hidden food, achieving about 73% accuracy after training. This marks the first time an invertebrate has demonstrated the ability to use mirrors as a spatial tool, suggesting that complex spatial cognition may evolve independently across evolutionarily distant species.