BUSINESS HEADLINES

Trump taps housing finance director Pulte as acting director of national intelligence after Gabbard

WASHINGTON (AP) — President Donald Trump has tapped federal housing finance Director Bill Pulte to be acting director of national intelligence to replace Tulsi Gabbard. Trump made the surprise announcement Tuesday on Truth Social regarding Pulte, the director of the Federal Housing Finance Agency and chair of mortgage giants Fannie Mae and Freddie Mac. Trump says Pulte “has deep experience managing the most sensitive matters in America, the safety and soundness of the Markets, and over 10 Trillion Dollars at Fannie Mae/Freddie Mac.” The Republican president says Pulte will keep his other positions even as he fills in for Gabbard, who resigned last month after revealing her husband’s cancer diagnosis.

Trump is facing a new inflation warning from the bond market, adding to his midterm challenges

WASHINGTON (AP) — The world is getting more uptight about lending money to President Donald Trump’s government. The energy price spike triggered by the Iran war has seeped into the price of bonds that help fund the U.S. government. That’s caused interest rates to climb in ways that are worsening affordability pressures, creating a new risk for Republicans in November’s elections. Trump says a task force on fraud could find enough savings to balance the budget. Economists say that’s probably unrealistic because of the magnitude of the deficit. Voters are concerned about high food and gas prices. Higher interest rates make it harder to buy or renovate a home, afford a new car or manage credit card debt.

Anthropic races toward a Wall Street debut with a confidential SEC filing

Artificial intelligence company Anthropic is moving toward going public on Wall Street, the latest chapter in its meteoric rise from a little-known research laboratory to one of the leading AI companies valued at $965 billion. Anthropic said Monday it has submitted a confidential filing with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. Anthropic said last week it had raised $65 billion in private funding that will push its valuation to $965 billion, a whopping number that makes the five-year-old maker of the Claude chatbot one of the world’s most valuable startups.

Israel’s weapons exports reach a record high with sales doubling in the past 5 years

TEL AVIV, Israel (AP) — Israel’s weapons exports reached a record high of over $19 billion last year, marking a 30% increase from 2024, according to Israel’s Defense Ministry. More than half of 2025’s sales were mega-deals valued at $100 million or more. Sales have more than doubled in the last five years, despite criticism of Israel’s conduct in conflicts with Gaza, Hezbollah, and Iran. Experts say governments are drawn to Israel’s battle-tested weapons. Defense Minister Israel Katz says the figures reinforce Israel’s position as a leading defense technology power. The Defense Ministry plans to prioritize innovation in drone defense.

Wall Street’s record-breaking rally slows as Alphabet drags on the market

NEW YORK (AP) — Wall Street’s record-breaking rally is slowing following a drop for Alphabet, one of Wall Street’s most influential stocks. The S&P 500 slipped 0.1% Tuesday, a day after setting its latest all-time high. The Dow Jones Industrial Average dipped 121 points, and the Nasdaq composite was flat. Analysts have said the market may be set for a slowdown following an unrelenting streak of nine straight winning weeks for the S&P 500. Alphabet fell after saying it plans to raise $80 billion through sales of stock to pay for its AI investments. AI chip companies rose. Oil prices held steadier following Monday’s bounce back.

US job openings climbed to 7.6 million in April despite economic fallout from the Iran war

WASHINGTON (AP) — U.S. job openings jumped in April as the labor market looked resilient despite economic uncertainty caused by the Iran war. The Labor Department reported Tuesday that U.S. employers posted 7.6 million job vacancies in April, up from 6.9 million in March and much higher than the 6.8 million economists had forecast. Layoffs feel but so did the number of Americans quitting their jobs – a sign of confidence in their prospects. The American job market has been recovering from a dismal 2025. Last year, companies, nonprofits and government agencies added fewer than 10,000 jobs a month, least outside a recession since 2002.

The UK government has set a target of an 87% cut in carbon emissions by 2042

LONDON (AP) — The British government is sticking to its net-zero goal despite global conflicts affecting energy supplies. It plans to reduce greenhouse gas emissions by 87% of 1990 levels by 2042. The U.K. has a legally binding target of achieving net zero carbon emissions by 2050. Energy Secretary Ed Miliband said the government will follow the independent Climate Change Committee’s advice for the next emissions budget. Scientists said the goal aligns with the 2050 target, but details on achieving it are needed. Opposition parties argue for more oil and gas extraction to reduce energy dependence.

Video games, watches, a motorhome: What was bought in Scottish National Party embezzlement scandal

LONDON (AP) — Prosecutors have detailed how the estranged husband of former Scottish leader Nicola Sturgeon embezzled more than 400,000 pounds from the Scottish National Party. Peter Murrell appeared in the High Court in Edinburgh on Tuesday. He was accused of creating fake invoices and falsifying records. Court papers reveal hundreds of items he bought with party funds. They ranged from a motorhome to Nintendo games. Murrell has pleaded guilty to embezzlement from 2010 to 2022. Sturgeon led the SNP for a decade. She denies any involvement. Sturgeon was arrested in June 2023 but she was later cleared. Murrell is set to be sentenced later this month.

Florida sues OpenAI and CEO Sam Altman, claiming company concealed serious risks of ChatGPT

MIAMI (AP) — The state of Florida has filed a lawsuit against OpenAI and CEO Sam Altman, claiming the company knowingly released and aggressively marketed ChatGPT to the public while concealing serious risks. Florida Attorney General James Uthmeier said Monday that the company suppressed internal safety warnings and deceived users about the true nature and dangers of the product. The lawsuit mentioned two recent criminal cases in which the suspects allegedly used OpenAI to plan the attacks. OpenAI says its models repeatedly encouraged the individuals to seek real-world support, including from mental health professionals. The company also says it has cooperated with law enforcement in both cases.

Nvidia bets on AI personal computers with new ‘superchip’ powering Windows laptops

TAIPEI, Taiwan (AP) — Nvidia has unveiled powerful new chips to bring advanced artificial intelligence to Windows laptops and desktops. These superchips will be powering new personal computer models from brands like Microsoft and Dell, and are set to roll out in the fall of this year, according to Nvidia CEO Jensen Huang. Huang spoke at the annual Nvidia GTC conference in Taipei on Monday. Nvidia and Microsoft are aiming to reinvent the personal computer, he said, and the new laptops and desktops will be able to run AI agents locally. Analysts say Nvidia’s move could revolutionize the PC market, drive AI applications at home, and offer more choices for consumers.