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The Shift Toward Public-AI PartnershipsPresident Donald Trump announced on Friday that his administration is actively pursuing deals where the American public benefits directly from the commercial success of AI companies. By positioning the public as a partner rather than a distant observer, the administration aims to ensure that the economic upside of artificial intelligence is widely distributed across the population.Structuring the Public Wealth FundWhile specific company names were not disclosed in the initial remarks, OpenAI has emerged as the likely candidate for this intervention. The administration is reportedly negotiating an equity stake that could serve as the seed capital for a proposed 'Public Wealth Fund.' As outlined by the company, the proceeds from this fund would be distributed directly to citizens, allowing broader participation in the upside of AI-driven growth regardless of an individual's starting wealth or access to capital.Comparing Models: The 10% Intel Precedent vs. The 50% Tax ProposalThe current strategy mirrors a previous intervention in the semiconductor sector. The government successfully secured a 10% stake in struggling chipmaker Intel last year. Conversely, political opposition on the left has proposed a more aggressive 50% one-time tax on IPOs for AI giants like OpenAI, Anthropic, and xAI. This section analyzes the implications of these differing percentage models on corporate valuation and public sentiment.The Risks of Corporate-Government FusionIndustry analysts warn that this trajectory signals a dangerous shift toward 'corporate-government fusion.' Former AI and crypto czar David Sacks acknowledged the political resonance of Senator Bernie Sanders' proposal but cautioned that such measures would accelerate the merging of private and public sectors. The concern is that these equity deals could evolve into de facto government bailouts, fundamentally altering the risk-reward calculus for Silicon Valley startups.Predicting the Future of AI Regulation and OwnershipWith major AI companies potentially going public this year, the debate is shifting from theoretical policy to concrete financial structures. The future outlook suggests a hybrid model where government oversight and capital injection become standard features of the AI industry, potentially setting a precedent for how emerging technologies are regulated in the 21st century.

The New York Datacenter Moratorium New York moved closer toward becoming the first US state to enact a moratorium on large datacenters this week. On Thursday, the state legislature approved a one-year ban on the facilities powering the AI boom. How Would New York's Temporary Ban on Datacenters Work? The moratorium largely targets datacenters built by 'tech goliaths' and will not apply to facilities already possessing the necessary state permits. The bill would also require an environmental impact report, which would document water and electricity usage, as well as new labor, energy efficiency and transparency standards, and ratepayer protections aimed at keeping New Yorkers' energy bills low. A Part of a Nationwide Pushback More than a dozen US states have considered moratoria in response to residents' fears about the potential costs of living next to datacenters, especially higher utility bills and negative environmental impacts. The Data Center Coalition, a trade association that has championed the expansion of these facilities, worries that a statewide moratorium would 'discourage further investment, undermine New York's economy, and send a signal that the state is closed for business'. The Scene in Albany In Thursday's debate on the legislative floor in the state capital of Albany, lawmakers against the ban echoed industry worries that it was a one-size-fits-all measure that would stifle economic growth and supersede local control. Kristen Gonzalez, a New York state senator and co-author of the bill, disagrees with that approach, saying 'It's an abdication of our responsibility to ask a local government to engage and take on the wealthiest companies in the world. That is what state government is for.'

The Lead A new documentary titled "The Alien Autopsy Scandal" reveals the fascinating behind-the-scenes story of how one of the most famous hoaxes of the 20th century was created in a modest Camden flat during the 1990s. The film exposes the elaborate deception behind the 1995 footage that purported to show an alien autopsy, which had been hailed globally as the most important evidence of extraterrestrial life ever recovered. The Creation of the Extraterrestrial Deception The documentary details how Ray Santilli and Gary Shoefield, two British businessmen, orchestrated the elaborate hoax. They employed a sculptor who had worked on Doctor Who to create the alien figure, filled with a mix of animal organs including a lamb's brain and pig's pluck to achieve convincingly moist appearance. A magician was brought in to shoot the film, which depicted hazmat figures performing an autopsy on a bulbous-headed humanoid with black, oval eyes and a distended belly. The Financial Success of the Fraud The hoax proved remarkably lucrative for its creators. After the footage was released in 1995, global news outlets heralded it as the most important evidence of extraterrestrial life ever discovered. The pair profited significantly from VHS home rentals, with Shoefield being interviewed from Beverly Hills, suggesting the financial rewards of their deception. The documentary highlights how the pair grew wealthy from their chicanery, capitalizing on public fascination with UFOs and the Roswell incident. The Impact on Media and Public Perception The alien autopsy footage had a significant impact on media coverage of UFO phenomena and public belief in extraterrestrial life. The documentary explores how the story was broken by Reg Presley, singer of the Troggs, who happened to be a friend of Santilli, appearing on the 90s daytime show "Good Morning With Anne and Nick" to reveal the existence of aliens. TV reporters worldwide smelled "ratings gold" in the story, leading to extensive global coverage that further popularized UFO conspiracy theories. The Legacy of the Hoax in the Digital Age In today's era of artificial intelligence and digital manipulation, the alien autopsy hoax takes on new significance. The documentary suggests there's an "analogue charm" to such hoaxes from a time when people were more innocent and willing to believe. The film contrasts past naivete with contemporary skepticism, noting that "today we have killed trust and dissected our wonder." As misinformation becomes increasingly sophisticated, the alien autopsy serves as both a cautionary tale and a reminder of humanity's enduring fascination with the possibility of extraterrestrial life.

The 'Non-Earner' Trap in Clinical PlacementsRoberta Leem-Bruggen’s letter highlights a critical flaw in the UK’s social safety net for parents in higher education. The 'nerd tax' creates a financial trap where students working full-time hours in clinical placements lose eligibility for childcare support, forcing them to repay thousands of pounds.Leem-Bruggen recounts her experience as a single parent on an NHS placement. Despite working over 40 hours a week, the Department for Work and Pensions (DWP) classified her as a 'non-earner' because she wasn't receiving a salary. This resulted in a retroactive demand to repay nearly £10,000 in childcare support, despite the initial assessment confirming her eligibility.The Economic Cost of Academic ProgressionThe case illustrates a severe financial bottleneck for postgraduate students who are also primary caregivers.Repayment Burden: Students can face retroactive repayments of up to £10,000 for a single academic year.Time Commitment: Clinical placements often require over 40 hours of unpaid work per week, effectively mimicking full-time employment.Current Status: The author is now a PhD student with three children, relying entirely on a stipend and a partner's income, highlighting the precarious nature of funding for families.Systemic Exclusion of Parental FiguresThis issue extends beyond a single case; it signals a systemic failure to support the demographic of parents pursuing postgraduate education. The current framework assumes that higher education is a luxury reserved for those without dependents or financial backing. This creates a 'binary choice' for parents: sacrifice academic advancement or rely on family wealth, effectively widening the gap in social mobility.Policy Reform or Continued Exclusion?As the cost of living rises and the demand for skilled professionals in sectors like healthcare grows, the exclusion of parents from childcare support could lead to a shortage of qualified staff. Future policy reforms will likely need to address the definition of 'earning' to include stipends and clinical placements, or risk losing a generation of potential experts in critical fields.

The War Economy: A Billionaire’s Perspective from the FrontlineUkraine is reeling from its heaviest aerial raid in months, with at least 25 people killed in the night sky. In the aftermath, Rinat Akhmetov, the country's wealthiest oligarch and owner of Shakhtar Donetsk, gives a rare interview from a location outside Kyiv. This conversation marks the 90th anniversary of the club and the 30th year of Akhmetov's leadership, offering a unique insight into how the war has reshaped his personal and professional life.From Coal Traders to Champions: The Akhmetov StrategyAkhmetov’s rise from a child in 1970s Donbas to the owner of one of eastern Europe’s most influential football clubs is a story of calculated risk and strategic foresight. His journey began not in football, but in the volatile economy of the 1990s.The Proximity of Danger: Akhmetov was five seconds away from death when his business partner and predecessor, Akhat Bragin, was killed in a stadium explosion in 1995. This tragedy left the club abandoned, with players earning as little as $200 or $300 a month.Industrial Expansion: Leveraging the collapse of the Soviet Union, Akhmetov moved from trading coke and coal to acquiring cheap stakes in metallurgy plants. He revitalized the Yenakiieve plant, where workers previously earned $45 a month, transforming it into a globally competitive enterprise.Breaking the Mold: To break Dynamo Kyiv's dominance, Akhmetov hired foreign managers like Nevio Scala and Mircea Lucescu. He argued that a patriot is someone who works for Ukraine's benefit, regardless of origin, a philosophy that yielded 22 trophies over 12 years.The Financial Toll of Occupation and the Iron and Steelworks of AzovstalThe conflict in Donbas has been devastating for Akhmetov’s industrial empire. Since the occupation began in 2014, his businesses have suffered severe losses. The Azovstal iron and steelworks became a global symbol of Ukraine's resilience during the 2022 siege, though it came at a massive cost to the local economy.Shakhtar was forced to flee their home, losing the Donbas Arena—a stadium that once held 40,000 to 50,000 fans—to the occupying forces. The club's relocation to Lviv and Poland turned them into a powerful ambassador for the Ukrainian state, using the Conference League semi-finals to keep the world's attention on the war.Shakhtar as a Symbol of Ukrainian ResilienceAkhmetov reveals that Shakhtar has always been pro-Ukrainian, evidenced by their 2007 decision to use the Ukrainian spelling of their name over the Russian one. However, the full-scale invasion has crystallized this identity. The club is now viewed globally as a symbol of the fight for independence, sovereignty, and freedom.The Road to Donbas: A Promise Kept and BrokenFor years, Akhmetov maintained a moral imperative: he vowed not to attend another game until Shakhtar returned to their beloved Donbas Arena. This promise was broken last month when he returned for the Conference League quarter-final following the death of his long-time manager, Mircea Lucescu. The spontaneous decision was driven by emotion, as the players' applause during the warm-up moved him to tears. It marks a significant moment in the club's history, signaling a potential return to the region that birthed them, even as the war continues.

Understanding the Basics of Monthly Investing Investing £50 a month can be a great way to start building wealth, regardless of your age. The key is to understand the basics of investing and to have a clear plan. Before You Start Investing Before you start investing, it's essential to build up an emergency fund that covers three to six months of essential outgoings. This fund should be easily accessible in case of unexpected costs. Consider your investment goal, time horizon, appetite for risk, and desired level of return. These factors will help you decide on the most suitable asset classes and investment company. In Your 20s: Starting Early In your 20s, you may want to consider building up cash savings and investing in a cautious fund via a stocks and shares Isa. Younger investors can benefit from time in the market and may consider a growth portfolio. Experts recommend aiming for at least 2.5% above inflation. Consider a ready-made portfolio that fits your risk appetite. In Your 30s: Planning for the Future In your 30s, you may face important life goals, such as starting a family or saving for university fees. Consider investing via a tax-free junior Isa or a stocks and shares Isa. Parents can start saving for university fees from their child's birth or when they start secondary school. Experts recommend considering a multi-asset fund or a global equity tracker fund. In Your 40s and 50s: Retirement Planning In your 40s and 50s, you may want to prioritize retirement planning and boosting savings and investments. Consider a fixed-income fund or a multi-asset fund to smooth out volatility. Experts recommend using Isas for pre-retirement goals due to their flexible access. Consider overpaying your mortgage or boosting your pension. Conclusion Investing £50 a month can be a great way to start building wealth, regardless of your age. By understanding the basics of investing and having a clear plan, you can make informed decisions and achieve your long-term goals.

The Road to the French Open Final Alexander Zverev moved to within one match of a long-awaited first grand slam title as he defeated the Czech 26th seed Jakub Mensik 7-5, 6-2, 3-6, 6-3 to reach the French Open final for the second time in his career. Zverev's Journey to the Final Zverev, the second seed and ATP No 3, will contest his fourth career grand slam final on Sunday. The German player lost his first grand slam final at the 2020 US Open in a fifth set tie-break against Dominic Thiem having led by two sets and served for the match in the fifth. He was then defeated by Carlos Alcaraz here in 2024 and Jannik Sinner in the 2025 Australian Open final. The Match Against Mensik Mensik is a generational talent who will likely compete in the latter rounds of grand slam draws for many years to come. Alongside one of the most destructive serves in the game, the Czech has an impressively complete game; he is an excellent mover with great feel, net play and a sweet two-handed backhand. The Impact of the Win From the moment Sinner, the No 1 and heavy favourite, and the 24-time champion Novak Djokovic were bounced out of this tournament, all eyes shifted to Zverev. He has won titles at all other levels, including Masters 1000 titles, the ATP Finals and an Olympic gold medal, but in the most important moments of the majors has often been punished for his lack of courage. The Future Outlook At the same time that the men’s draw has been a site of total carnage, top seeds falling in the early rounds and the remaining players battling through energy-sapping marathon matches just to hang on, Zverev has used his wealth of experience to take care of business and maintain his momentum. His focus has rarely wavered over the past 12 days. He knows more than anyone that this is an opportunity he cannot afford to miss, one that may never come again, and it seems increasingly likely that he will take it.

A Lost Literary Treasure EmergesA never-before-published short story by Edith Wharton, the first female Pulitzer prize winner who encapsulated the so-called gilded age of US society in bestselling novels including The Age of Innocence, has received its first public airing more than a century after it was written.The Discovery of "The Men Who Saved the World"The story, discovered in the author's archives at Yale University, appears in The Strand, a quarterly magazine that has previously turned up lost or previously unknown works by literary luminaries such as Raymond Chandler, Graham Greene and Tennessee Williams. Believed to have been written no earlier than July 1918, the story was found "incomplete and unpublished" in the Edith Wharton Collection at Yale's Beinecke Rare Book and Manuscript Library.A Tale of Contrasting RealitiesSet during a dinner party in a French chateau towards the end of the first world war, the story tells of the country's wealthiest residents attempting to move on from the conflict that recently scarred them, even as guns are heard still booming and soldiers dying only miles away. The tale is punctuated by the meal being served on a grand dining room table that was used as an operating table for amputations only months before when the chateau was used as a field hospital.Wharton's War Experience Reflected in FictionA main character is a young American nurse called Milly Arden, who observes the household's easy return to its privileged prewar days as she wrestles with the horrors of war and the injuries she has seen and treated. Arden's character appears to be at least in part autobiographical: Wharton, who died in 1937 aged 75, had extensive experience of field hospitals during the conflict also known as the Great War, and helped set up medical care and facilities for affected women and children.Modern Parallels in a Century-Old NarrativeAndrew Gulli, editor-in-chief of The Strand, said the story from more than a century ago has parallels in global events of today. "We live in a time where we're very far away from a lot of horrific events that are happening around the world, and this story sort of encapsulates that mood where there's this beautiful chateau, and people are trying to go back to the old prewar era with the chandeliers and this wonderful dancing, and a dinner party, and not far away the war's still happening," he said.Scholarly Significance and Future DiscoveriesProfessor Isabelle Parsons, a British Open University professor and Wharton scholar who first uncovered the manuscripts, noted that "in the past decade, news of fresh archival discoveries has frequently thrilled Wharton's casual and critical readers." She described the story as "casting a satirical eye over the volunteer efforts of privileged women" and "reads like an experimental attempt – ultimately abandoned by Wharton – at confronting the traumatic effects of warfare through its explicit references to amputation as medical care at the front."

The £24m Gamble at EpsomTwenty months after embarking on a remarkable £24m spending spree on yearlings at Tattersalls' Book 1 sale in Newmarket, football "super-agent" Kia Joorabchian stands at the threshold of potentially the biggest payoff of his career. As the 247th running of the Epsom Derby approaches, Joorabchian will watch two of his high-profile acquisitions, Poker and Ancient Egypt, compete in the premier Classic, with the outcome potentially reshaping his position in the elite world of international horse racing.The Bloodstock Investment BreakdownThe contrasting stories of Joorabchian's two Derby hopefuls illustrate the uncertainties and potential rewards of high-end bloodstock investment. Poker, the most expensive yearling colt ever sold at public auction in Europe, cost 4.3m gns (£4.5m) but has yet to win even a novice event in three attempts, starting as a 200-1 outsider to become the first maiden to win the Derby since 1887.In stark contrast, Ancient Egypt was purchased for 1.1m gns (£1.2m) – approximately a quarter of Poker's price tag – and has already established himself as a serious contender with three wins from four starts. The son of Frankel, out of a full-sister to a Group One-winning mare, represents Joorabchian's more calculated investment, with the Derby being the primary target when the colt was acquired.The Financial Calculus of Racing RoyaltyWhile the total purse for this year's Derby stands at £2m, with approximately half going to the winner's connections, the financial considerations extend far beyond prize money. For Joorabchian, the £24m investment represents an ambitious entry into the exclusive world of international Flat racing, an arena traditionally dominated by individuals with sovereign wealth from Dubai, Qatar, and Saudi Arabia.The true value lies in establishing a virtuous loop between racing success and breeding potential. A Derby-winning son of Frankel would represent an elite stallion prospect, potentially worth many times the original investment through future breeding rights. This strategic approach mirrors the model employed by John Magnier's Coolmore Stud operation, which has dominated European racing for decades.Challenging Establishment in Horse RacingJoorabchian's venture represents a significant shift in the ownership landscape of elite horse racing. For decades, the sport's premier events have been dominated by homebred horses from established operations like Godolphin, Coolmore, and the Aga Khan, as evidenced by last year's Derby where the first nine finishers included multiple homebred champions.Charlie Johnston, Ancient Egypt's trainer, acknowledges the unique position of his high-profile charge: "You try and tell yourself that from the moment they walk through the door, they all get treated the same regardless of price tag or pedigree, but let's say that, as George Orwell would say, all animals are equal but some are more equal than others." The pressure to deliver on such a significant investment is immense, yet Johnston remains focused on the task at hand.The Road to Racing LegacyShould Ancient Egypt triumph at Epsom, it would mark not only a remarkable return on Joorabchian's investment but also a historic achievement for Johnston. The Yorkshire-based trainer would become the first to saddle a Derby winner since 1869, continuing a family legacy built by his record-breaking father, Mark."There would have been time [for another run before the Derby] but I just felt he'd done enough to book his ticket for Epsom," Johnston explains of his decision to bypass additional prep races. With Ancient Egypt's proven pedigree, including connections to six-time Group One-winner Midday, and a developing race record that could complement his breeding potential, the stage is set for what could be a transformative day for both horse and owner in the world of elite horse racing.