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NextEra Energy announced an all‑stock acquisition of Dominion Energy valued at roughly $67 billion, creating the world’s largest regulated electric utility by market capitalisation as AI‑driven data centres push US power demand.All‑Stock Deal to Combine Two Utility TitansThe companies said the merger will unite their operations across Florida, Virginia, North Carolina and South Carolina, serving roughly 10 million utility customers. It will be the biggest proposed utility merger of 2026 and will operate under the NextEra name and the “NEE” ticker on the NYSE.Financial Scope: $67 billion Valuation and Ownership SplitExchange ratio: 0.8138 NextEra shares for each Dominion share.Dominion shareholders receive a one‑time cash payment of $360 million at closing.Post‑merger ownership: 74.5% NextEra shareholders, 25.5% Dominion shareholders.Market reaction: Dominion stock up 9.61%, NextEra stock down 5% in morning trading.Strategic Rationale: Scaling Infrastructure for AI‑Driven Data CentresThe combined entity will target roughly 130 GW of electricity demand from data centres, a capacity that could power about 750,000 homes per GW. Dominion already has nearly 51 GW of contracted data‑centre capacity with customers such as Alphabet, Amazon, Microsoft, Meta, Equinix, CoreWeave and CyrusOne. NextEra’s recent projects include a nuclear plant partnership with Google and natural‑gas‑fired data‑centre hubs in Texas and Pennsylvania.Regulatory Hurdles and Market ReactionThe transaction requires approval from shareholders of both companies, the Nuclear Regulatory Commission and other federal and state regulators. Lawmakers in at least six states—Arizona, Indiana, Maryland, New Jersey, New York and Pennsylvania—are scrutinising utility rate‑increase proposals linked to data‑centre growth, adding political pressure to the approval process.Outlook: Consolidation Trend and Future Power LandscapeThe deal follows a wave of large‑scale utility consolidations, including AES’s $33.4 bn sale to a consortium led by Global Infrastructure Partners, Constellation Energy’s $16 bn merger with Calpine, and Blackstone’s $11.5 bn acquisition of TXNM Energy. Analysts expect further M&A; activity as utilities seek scale to finance and operate the massive infrastructure required for AI‑intensive computing workloads.

Donald Trump has formally withdrawn his $10 billion lawsuit against the Internal Revenue Service and the Department of Justice announced a $1.77 billion Anti‑Weaponisation Fund that would compensate political allies who say they were subjected to "weaponisation" and "lawfare".Withdrawal of the $10bn IRS Lawsuit and Creation of the Anti‑Weaponisation FundFiled in a Florida federal court on May 18, 2026; terms of any settlement were not disclosed.The DOJ’s press release frames the fund as a systematic process to hear and redress claims of weaponisation.The lawsuit originated from former IRS contractor Charles Littlejohn's 2019‑2020 leak of Trump’s tax returns.Littlejohn pleaded guilty to improper disclosures and received a five‑year prison sentence in 2023.Financial Scope: $1.77bn Fund and $10bn Claim FiguresOriginal claim: $10 billion damages against the IRS.Proposed compensation pool: $1.77 billion (often rounded to $1.8 billion in commentary).Potential beneficiaries have not been publicly identified.Political Ramifications and Legal ControversyRep. Jamie Raskin (D‑MD) called the fund "unconstitutional" and likened it to a pardon.California Governor Gavin Newsom and Rep. Pramila Jayapal condemned the use of taxpayer money for allies.Watchdog group Citizens for Responsibility and Ethics (CREW) announced an investigation into fund allocation.The filing raises questions about whether a president can sue his own government and whether the case can be dismissed for lack of an adversarial party.Future Outlook: Legal Challenges and Potential Use of the FundU.S. District Judge Kathleen Williams scheduled a hearing for May 27, 2026 to decide if the suit should be dismissed.If dismissed, the fund could be implemented without further judicial oversight, pending DOJ guidelines.Potential constitutional challenges may focus on the Domestic Emoluments Clause and separation of powers.Continued scrutiny from Congress, media, and ethics watchdogs is expected as details of fund distribution emerge.

The Rediscovery of a Forgotten VisionaryGordon Stevenson, a multifaceted artist who made significant contributions to New York's late-70s no wave scene, is about to experience a posthumous renaissance. Four decades after his death, Stevenson has been largely remembered as merely a footnote in other people's stories. However, this is about to change dramatically with the discovery of a storage unit filled with his lost work, including jewelry, collaborations with mail-art pioneer Ray Johnson, and even clues to the whereabouts of a surviving print of his notorious film, Ecstatic Stigmatic.The Early Life and InfluencesStevenson's story begins not in the gritty streets of New York, but 900 miles south in the small town of Dublin, Georgia. Born into a family of "emotionally repressed stoics," he was a maths prodigy with a taste for Flannery O'Connor, Nietzsche, and Sartre. His intellectual pursuits and unconventional lifestyle created a rift with his parents, who expected him to follow a more traditional path. Offered a maths scholarship at Georgia Tech, Stevenson instead chose the liberal arts campus of Eckerd College in St. Petersburg, Florida, further widening the divide with his family.The New York YearsIn 1977, Stevenson and his partner Mirielle Cervenka relocated to New York, a city that photographer Julia Gorton described as "a nihilistic playground for people with trauma." The city was "very destroyed by the drugs and violence," according to Maripol, a European émigré designer and filmmaker who later worked with Grace Jones and Madonna. "But there was freedom. That the city was bankrupt meant low rents. Creative people could afford to live there," Maripol recalls.The Artistic LegacyStevenson's artistic contributions were multifaceted. He and Cervenka founded the jewelry brand LHOOQ, which "repositioned the jewellery for the punk market" by upcycling vintage trinkets. His "memento mori" series focused on crosses and skulls, anticipating gothic fashion and showcasing a macabre sensibility. In music, he joined Lydia Lunch's Teenage Jesus and the Jerks, a band that was, according to Gorton, "really intense, abrasive, not friendly – just a perfect band." Jim Sclavunos, who later drummed for Sonic Youth and Nick Cave and the Bad Seeds, remembers Stevenson as "a very striking presence, depraved in the right ways." His most ambitious work was the film Ecstatic Stigmatic, a $5,000 production inspired by Catholic mysticism and the Jonestown massacre, which Sclavunos found "surprised by how good it was. A lot of no wave cinema looked juvenile. But Ecstatic Stigmatic was very shadowy, sleazy and sexual."The Impact on Contemporary CultureThe rediscovery of Stevenson's work comes at a time when there is renewed interest in the no wave movement and its influence on contemporary art and music. His story offers insight into the creative ferment of late-70s New York, a time when the city's financial struggles paradoxically created space for artistic experimentation. The letters Stevenson wrote to his parents, which his family has recovered, provide a personal window into this period, chronicling life in the downtown demimonde and his experiences as one of New York's first Aids patients. As his sister Barbara Stevenson notes, "Gordon always belonged in New York," and with this rediscovery, his rightful place in the city's artistic pantheon is finally being secured.

The Graduation Backlash Against AIDuring the 2026 commencement season at American universities, several speakers faced unexpected pushback when mentioning artificial intelligence. Students at the University of Central Florida and University of Arizona booed executives who highlighted AI's role in the future, reflecting growing concerns about job prospects and the direction of technological advancement.When AI Became the Third Rail at GraduationsGloria Caulfield, an executive at real estate firm Tavistock Development Company, gave a speech at the University of Central Florida where she declared, "The rise of artificial intelligence is the next industrial revolution." The students in the audience responded with increasingly loud booing, causing Caulfield to pause and remark, "Okay, I struck a chord."Former Google CEO Eric Schmidt faced similar resistance at the University of Arizona. Despite ongoing controversy over a lawsuit accusing him of sexual assault (which he denies), Schmidt also encountered boos when he told students, "You will help shape artificial intelligence." He attempted to continue by emphasizing the opportunities AI presents, but the booing persisted.Not all AI-focused speeches faced backlash. Nvidia CEO Jensen Huang spoke at Carnegie Mellon's commencement without audible pushback when he noted that AI has "reinvented computing."The Economic Anxiety Behind the BooingThe negative reactions may stem from broader economic concerns. A recent Gallup poll revealed that only 43% of Americans aged 15 to 34 believe it's a good time to find a job locally, a significant drop from 75% in 2022. This pessimism reflects growing anxiety about employment prospects in an increasingly automated world.Even tech industry workers express concerns about AI's impact on employment, with journalist and tech critic Brian Merchant suggesting that AI has become "the cruel new face of hyper-scaling capitalism."Generational Divide on Technology's FutureThe backlash highlights a significant generational divide in how technology's future is perceived. While older generations often present AI as an inevitable and beneficial progression, many younger graduates view it with skepticism and fear.Schmidt himself acknowledged this divide, noting "a fear in your generation that the future has already been written, that the machines are coming, that the jobs are evaporating, that the climate is breaking, and that politics are fractured."The specific context of each speech also influenced reception. Caulfield, addressing arts and humanities graduates, may have misread her audience by beginning with "generic" praise of corporate executives like Jeff Bezos before introducing the topic of AI.The Future of Commencement MessagingAs AI continues to reshape industries and job markets, commencement speakers will need to address these concerns more directly and thoughtfully. The backlash suggests that simply celebrating technological advancement without acknowledging its challenges will no longer resonate with graduating students.Moving forward, successful commencement speeches may need to balance optimism about technological possibilities with realistic acknowledgment of the economic and social challenges ahead. The focus may shift from celebrating AI itself to discussing how graduates can navigate and shape a future where AI plays an increasingly prominent role.

The Lead The United States is planning to indict former Cuban President Raul Castro as Washington raises the pressure on the island’s communist government. The Indictment Plans Several US media outlets reported on Thursday that the potential charges against the 94-year-old brother of Fidel Castro relate to a 1996 incident in which Cuba shot down planes flown by the anti-Castro humanitarian group Brothers to the Rescue. The US Blockade The move comes amid a US blockade that has halted virtually all fuel supplies to the island, with the Trump administration, after celebrating its overthrow of Nicolas Maduro in Venezuela, pushing for regime change. The Impact Analysis Indicting Castro would mark a stunning escalation in the ongoing crisis in US-Cuba relations, which have deteriorated since US President Donald Trump took office for a second term in 2025. Trump has repeatedly said he wants to topple Cuba’s communist-led government, warning that Cuba is “next” after the US military abduction of Venezuelan leader Nicolas Maduro. The president first cut the flow of funds and fuel from Venezuela to Cuba in January. He then threatened heavy tariffs against any country that provides Havana with oil, implementing a de facto fuel blockade on the island. The Prediction Any indictment would need to be approved by a grand jury. The efforts have been led by the US Attorney’s Office for the Southern District of Florida, according to the Reuters news agency.

The Diplomatic Opening in BeijingOne day into US President Donald Trump's visit to China for trade talks, both he and Chinese President Xi Jinping have exchanged toasts at a state banquet at the Great Hall of the People in Beijing, and hailed their relationship as the world's most "consequential". On Thursday, following a visit to the Temple of Heaven, a 600-year-old landmark in the Chinese capital, Xi spoke of a "shared US-China future", while also warning that failure to handle this bond would create a "very dangerous situation"."We must make it work and never mess it up," he said.The Personal Diplomacy Between LeadersThe US president described his Chinese counterpart as "my friend" in his opening remarks at the state banquet that Xi hosted for the American leader. "We are going to have a fantastic future together. I have such respect for China, for the job you've done. You are a great leader," he told Xi.Trump also invited Xi and First Lady Peng Liyuan to pay a return visit to the White House on September 24. For his part, the Chinese president said he was "very happy" to meet Trump in Beijing at a time of "historic turbulence" when "the world stands at a new crossroads".Xi posed a series of questions to the US president: "Can we join hands to address global challenges and inject greater stability into the world? Can we uphold the wellbeing of our respective peoples and the shared future of humanity, working together to create a bright future for our bilateral relationship?"China's reception underscored how highly Xi regards this visit. Trump was welcomed at the Great Hall of the People, the seat of power in China, "the equivalent of the White House and all other important centres of power combined". Additionally, Vice President Han Zheng greeted Trump at the airport when he landed in Beijing on Wednesday, making him the highest-ranking Chinese official to ever welcome a US president.Strategic Framework for Bilateral RelationsXi and Trump agreed to frame their relationship as "constructive, strategic and stable" in a new positioning that is intended to guide US-China ties for the next three years and beyond, according to a Chinese Foreign Ministry statement about talks between the two.Trump said the relationship between the two countries went back to the founding of the US, noting that the early American traders who visited China were described, by the Chinese, as "the new people". Today, he said, the two countries' bilateral ties were among "the most consequential" in the world.The Chinese president said the two countries should become partners, rather than rivals, adding that "mutual respect is key to stable China-US ties". "I have always believed that the common interests between China and the US outweigh the differences," Xi said. "Let 2026 be a historic and landmark year for Sino-US relations to carry on the past and open up the future."Trade and Economic NegotiationsTrump and Xi discussed trade, with Xi saying that China's door of opportunity will open wider. What this means is not explicitly clear yet, but Trump will be hoping it includes a Chinese pledge to buy US soya beans, beef and aircraft. Officials in the Trump administration also hope to move towards setting up a Board of Trade with China to manage commercial disputes between the two countries.Xi also met with US business leaders who have accompanied Trump on this trip on Thursday. The US and China entered a tariff threat standoff last year, with each side imposing retaliatory tariffs on each other's exports. China also restricted exports of some rare-earth metals, which are crucial for technology manufacturing, in April. Later in the year, it announced plans to restrict several others. Those later plans are on pause since a truce was agreed between the two presidents in October last year on the sidelines of the APEC summit in South Korea.In return for China's agreement to pause restrictions on rare-earth metal exports, Trump dropped a threat of 100 percent tariffs on Chinese goods.The Taiwan ChallengeThe Taiwanese government maintains that the self-governing island of 23 million people is a sovereign state. During the meeting on Thursday, Xi reportedly warned Trump that the issue of Taiwan – which China regards as its own territory – could lead to conflict between Washington and Beijing if it is not handled carefully.However, Taiwan was not mentioned in a joint statement following the meeting, and Trump notably ignored a question from reporters about his stance on Taiwan. This is a tricky issue for the US. While the US government officially acknowledges that China views Taiwan as part of its territory, it does not explicitly state whether or not it agrees with that stance.The US formally severed official diplomatic ties with Taiwan – also known as the Republic of China – decades ago, but remains committed under the 1979 Taiwan Relations Act to supporting the defence of the self-governing democracy. That law has enabled Washington to supply Taiwan with billions of dollars' worth of weapons and to deepen cooperation in areas such as military training and intelligence sharing, moves Beijing regards as meddling in its internal affairs.Xi has told Trump that the "Taiwan question is the most important issue in China-US relations", Chinese Foreign Ministry spokesperson Mao Ning posted on X on Thursday. "If it is handled properly, the bilateral relationship will enjoy overall stability. Otherwise, the two countries will have clashes and even conflicts, putting the entire relationship in great jeopardy," she wrote.Taiwan's Foreign Ministry released a statement saying that China is "currently the sole risk to regional peace and stability", after Xi warned Trump. "Beijing has no right to make any claims on behalf of Taiwan internationally," the statement added.Global Security CooperationThe US-Israel war on Iran, which entered its 76th day on Thursday, also came up in the meeting between Trump and Xi. In their joint statement, Trump and Xi agreed that the Strait of Hormuz must remain open and Iran should never have nuclear weapons.US officials have previously said that they might need China's help in convincing Iran to open the Strait of Hormuz. But analysts say Beijing will want concessions from the US, likely regarding Taiwan, in exchange for any aid in resolving the crisis.Future Outlook for US-China RelationsTrump and Xi may meet again on at least two other occasions this year – the Asia-Pacific Economic Cooperation (APEC) leaders' meeting, in Shenzhen, China, in November; and the Group of 20 (G20) summit in Miami, Florida in the US in December. It would be unprecedented for the US president to travel to China twice in one year.The tone set during these initial talks suggests both sides recognize the importance of managing their complex relationship carefully. Xi's warning about not "messing it up" indicates the high stakes involved, while Trump's personal approach and emphasis on friendship suggests he may be seeking a personal channel for diplomacy alongside official channels.As both nations navigate differences on trade, Taiwan, and global security issues, the framework they've established as "constructive, strategic and stable" will be tested in the coming months. The frequency of their planned meetings suggests both sides understand the need for constant communication to prevent misunderstandings that could escalate into conflict.

The Incident at University of Central Florida Students at the University of Central Florida's 2026 graduation ceremony recently expressed their discontent with a speaker's comments on artificial intelligence (AI). Gloria Caulfield, a real estate development executive, was booed by the graduating class of 2026 when she likened the rise of AI to the next Industrial Revolution. Student Reactions and Concerns The crowd's reaction was immediate and loud, with Caulfield pausing, turning away from the podium, and throwing her hands up in the air. She responded by asking, "Woop, what happened?" and then nervously laughing, "OK, I struck a chord. May I finish?" The students' reaction reflects a broader anxiety about AI's impact on their future careers. A 2025 poll by the Institute of Politics at the Harvard Kennedy School found that a majority of recent college graduates view AI as a threat to their job prospects. The Impact of AI on Job Prospects The students' concerns are not unfounded. AI is transforming various industries, from graphic design to Hollywood and journalism. Tech CEOs have been slashing workforces, citing AI's ability to replace some jobs and boost efficiency. Industries outside Silicon Valley are also being affected by AI. Students are under pressure to choose majors that lead to AI-proof careers. The Future of AI and Education Caulfield's speech, despite the initial backlash, highlighted the importance of adapting to technological changes. She compared the current situation to when she finished college as the internet started taking off, noting that such technologies can be gamechangers for economic development and new businesses. The incident underscores the need for educational institutions to address AI-related anxieties among students. It also emphasizes the importance of preparing students for a future where AI will play a significant role.

The Fragile Ceasefire at Risk Islamabad has rejected allegations that it sheltered Iranian military aircraft from potential US strikes as the fragile ceasefire it helped broker between Washington and Tehran appears increasingly at risk. The diplomatic tensions come as US President Donald Trump dismissed Iran's latest peace proposal as "a piece of garbage" that he had not even finished reading, describing the month-old truce as being "on massive life support." Pakistan's Diplomatic Dilemma The Ministry of Foreign Affairs in Pakistan called the CBS News report about Iranian aircraft being moved to Pakistan Air Force Base Nur Khan "misleading and sensationalised," stating the aircraft had arrived as part of diplomatic logistics for talks in Islamabad between US and Iranian officials on April 11. Pakistan emphasized that both Iranian and US aircraft used the base during the ceasefire period, and any significant foreign military presence at the base would be impossible to hide. "The Iranian aircraft currently parked in Pakistan arrived during the ceasefire period and bear no linkage whatsoever to any military contingency or preservation arrangement," the ministry said, adding that Pakistan had "consistently acted as an impartial, constructive and responsible facilitator" throughout the process. Washington's Growing Skepticism Despite Pakistan's denials, concerns in Washington have grown. A CNN report suggested some Trump administration officials believe Pakistan has been sharing "a more positive version of the Iranian position with the US than what reflects reality" while questioning whether Islamabad was "aggressively conveying Trump's displeasure." US Senator Lindsey Graham, a Trump ally, called for "a complete reevaluation" of Pakistan's mediator role. However, analysts suggest the controversy is unlikely to significantly damage Islamabad's position. "Pakistan has done more than many had expected. Delivering a ceasefire in an environment marred by sheer distrust was no mean feat," said Syed Ali Zia Jaffery, deputy director at the Centre for Security, Strategy and Policy Research at the University of Lahore. Deadlock in Peace Negotiations The immediate trigger for the latest tensions was Washington's rejection of an Iranian peace proposal delivered through Pakistan on Sunday. Iranian state media said Tehran's terms included US war reparations, full Iranian sovereignty over the Strait of Hormuz, an end to sanctions, and the release of frozen assets, while insisting nuclear negotiations be deferred. "I would say the ceasefire is on massive life support," Trump said in the Oval Office, describing the situation as one "where the doctor walks in and says, 'Sir, your loved one has approximately a 1 percent chance of living.'" Iranian officials rejected this characterization, calling their proposal "reasonable and generous" and insisting they had demanded "only Iran's legitimate rights." Regional and International Ramifications The core disagreements between Washington and Tehran remain unchanged. The US wants Iran to explicitly abandon its nuclear program and surrender its stockpile of uranium enriched to 60 percent, while Tehran insists nuclear negotiations can only follow the lifting of sanctions and the end of the US naval blockade imposed on its ports. Since the Islamabad talks ended without an agreement on April 12, Pakistan has continued to act as an intermediary, carrying proposals between the two sides. Qatar has also backed the mediation effort, with US Secretary of State Marco Rubio meeting Qatari Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani in Miami, Florida. Path Forward Amid Uncertainty Trump is expected to discuss the Iran crisis with Chinese President Xi Jinping during a visit to Beijing this week, as Washington hopes Beijing could use its influence with Tehran. China is Iran's biggest economic and strategic partner, and Iranian Foreign Minister Abbas Araghchi met Chinese Foreign Minister Wang Yi in Beijing last week. The Iranian foreign minister is also expected to attend a meeting of BRICS foreign ministers in India, alongside top diplomats from Saudi Arabia and Egypt. "For the ceasefire, this is actually stabilising. More parties with skin in the game raise the cost of collapse for everyone," said analyst Mohanad Seloom. Meanwhile, Israeli Prime Minister Benjamin Netanyahu indicated that if Iran's nuclear material could not be removed through negotiations, Israel and the US agreed "we can re-engage them militarily." Former Qatari Prime Minister Sheikh Hamad bin Jassim Al Thani warned that the weaponisation of the Strait of Hormuz was "the most dangerous outcome" of the conflict, suggesting the crisis would outlast any ceasefire.

The Lawsuit Against Ben Affleck and Matt Damon Two Miami sheriff's deputies have filed a lawsuit against Ben Affleck and Matt Damon, claiming the Hollywood actors' portrayal in a Netflix crime drama makes them look like 'dirty cops'. The Event Details The officers, Jonathan Santana and Jason Smith, deputies with the Miami-Dade county sheriff's office, are seeking defamation damages from the actors' production company Artists Equity. The Rip is a dramatization of a 2016 drugs bust on a private residence in Miami Lakes in which $24m cash was recovered. The Data Analysis The money was found in 24 buckets containing a million dollars each – hidden behind drywall in the property. The haul represented the largest ever recovered by the Miami-Dade police department. The Impact Analysis The lawsuit's plaintiffs, who were part of the real-life team that made the bust on which the fictionalized account in the film was built, say The Rip portrays them in a negative light. 'When you rip something, you're stealing something,' Santana told 7 News Miami, referring to the crime thriller's title. 'We never stole a dollar.' The Prediction It is not the first time The Rip, which was released in January, has angered members of the south Florida community. The Guardian has contacted Artists Equity for comment. Netflix, which is not part of the deputies' lawsuit, settled a defamation case in 2022 with the chess grandmaster Nona Gaprindashvili, who said she was defamed in its drama The Queen's Gambit.