SCROLL NEWS / DISCOVERY
Search headlines
Find the stories shaping the conversation.
Results for " infrastructure " 803 found 🔀 AI-powered Shuffle
What Formula One Engineering Can Teach Us About AI Infrastructure
Michael Fuller, Executive Chairman of Conflux Technology, examines why thermal performance alone is no longer enough in modern data centers, and how balancing heat transfer with hydraulic efficiency can unlock significant operational gains. The AI era is forcing data center operators to rethink some long-held assumptions about infrastructure design. As processor power densities continue to […]
DeWitt’s Crossroads Business Park gets ready for growth
DEWITT, Iowa – Community leaders and development partners recently celebrated the groundbreaking of five regional water detention ponds in an expansion of the Crossroads Business Park, marking a major milestone in preparing the site for future industrial growth. The project is the first phase of infrastructure improvements that will make approximately 125 acres of development […]
‘Plastic pollution hotspots’ spawn a public health crisis across Latin America
Since China banned the import of plastic waste in 2018, plastic pollution has been having a growing impact on the people and ecosystems of Latin America. As the region imports an increasing amount of the world’s used and discarded plastic, new research shows that waste infrastructure in many countries is already buckling under the strain […]
Environmental Health Message from Supervisor Perez
As the Supervisor Fourth District, infrastructure, social services, and Economic Development are critical in building a healthy environment.
UT Health San Antonio invests $1 billion to meet the growing demand for healthcare in South Texas
The multiyear investment strengthens patient care, research and healthcare infrastructure.
AXA scales governed AI infrastructure across global operations
The insurer's vendor-agnostic hub is already live in five entities, with AXA XL among those building claims and email applications
Tencent Cloud Powers Bookme's Global Business Growth with Scalable Cloud Infrastructure
/PRNewswire/ -- Tencent Cloud, the cloud business of global technology company Tencent, today announced its collaboration with Bookme, which started in...
Asteroid Detected Before Impact Explodes Over Australia In Rare Space Event
The asteroid was estimated at about 0.8 meters, and it posed zero threat to people or infrastructure on the ground.
The war on Iran’s energy infrastructure creates rising political risk
When Israel targeted Tehran’s oil storage facilities in the initial days of the war launched on Feb. 28, black smoke blanketed the capital and plunged parts of the city into darkness. Roughly ten days later, strikes hit natural gas facilities at the giant South Pars field, key oil refineries, major steel plants, and petrochemical complexes, impacting thousands of workers. These attacks on vital energy and industrial assets revealed a critical dimension of the conflict: compounding an already acute domestic energy...
Business Monday: Kaʻū farmers grapple with losses of trees, crops and infrastructure from Hurricane Lala
According to the Hawaiʻi Farmers Union, Hurricane Lala has caused more than $3 million in reported losses across 79 types of farms.
A sun-powered siren: Inside the world’s first solar ambulance
Solar ambulance Stella Juva could transform access to healthcare in regions that lack reliable infrastructure, electricity and fuel.
Cuba: US Embassy issues health alert due to GI pathogens like norovirus, Shigella
The US Embassy in Havana issued a health alert last week after seeing a significant increase in diarrheal illness across Cuba, associated with the continuing degradation of the water and energy infrastructure. This degradation affects water supply, and food storage and temperature control. Recent cases have included E. coli, norovirus, Shigella, and other gastrointestinal pathogens. This comes after a health alert dated August 28 which noted that Cuba’s water delivery infrastructure is increasingly unstable. The Embassy is aware of reports of residential neighborhoods that have gone for long periods without receiving water from municipal or public sources. Dengue cases surge in the Tampa Bay area Prolonged and worsening water issues and power outages caused by the regime’s mismanagement of public infrastructure impact the entire island. Water often only flows to residences when city power is on for a sufficient amount of time. Media reports indicate wells are running dry across the country due to drought, aggravating the ability to supplement water delivery. The lack of water, coupled with power shortages that have disrupted cold chain networks, can present significant health and safety challenges. We remind U.S. citizens to be aware of the risks when traveling to Cuba and take precautions. Embassy officials offer the following precautions to prevent illnesses: Avoiding Foodborne Illness: Be cautious of meat, poultry, seafood, eggs, dairy, and other perishable foods that may have been inadequately stored. Avoid foods that appear to have been sitting at room temperature for extended periods. Avoid raw or improperly washed vegetables. Be cautious of food cooked and then cooled, stored, or reheated, as improper temperature control can allow pathogens or toxins to develop. Wash hands thoroughly with soap and water before eating and after using the restroom. Hand sanitizer may be less effective against certain gastrointestinal pathogens, including norovirus. Outbreak News Today is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe Water Safety: Use only water known to be safe for drinking, brushing teeth, making ice, and cooking. Use bottled or appropriately treated water; check that bottle seals are intact before opening. Avoid ice unless the water source is known to be safe. Do not use untreated tap water to prepare beverages or food. Be aware that contamination can occur when food, utensils, and surfaces are washed with contaminated water. If You Become Ill: Stay hydrated, especially with frequent diarrhea or vomiting. Most illnesses are self-limited and improve within several days. Seek medical attention for persistent or severe diarrhea, bloody stools, high fever, significant abdominal pain, repeated vomiting, signs of dehydration, or symptoms not improving. Common medications (e.g., acetaminophen, ibuprofen, antibiotics) are frequently unavailable in Cuba; consider bringing your own supply. If you like the reporting on Outbreak News Today, please consider a paid subscription for $5/month or $30 a year. Help support the cause of this niche journalism. It is appreciated.
Phnom Penh recognised with WHO Healthy Cities Award for safer, healthier urban mobility
Phnom Penh City Hall has been awarded the World Health Organization (WHO) Healthy Cities Recognition Awards 2026 in the Safe, Active and Health-enabling Transport category, recognising its commitment to improving road safety and creating healthier urban mobility for residents. The award was presented during the 11th Global Conference of the Alliance for Healthy Cities held in Sydney, Australia, from 1-3 September 2026. Phnom Penh was recognised for the project “Safe, Active and Health-enabling Transport: Advancing Health and Reducing Inequities in Urban Mobility”, supported through the Partnership for Healthy Cities. The initiative has focused on creating safer and more accessible environments for vulnerable road users, particularly around schools. The project combines road safety data, infrastructure improvements, 30 km/h speed management, enforcement, education and community engagement to address risks around high-risk schools. Improvements have included the installation of traffic signs and road markings, smart speed limit signs, safety camera systems and strengthened monitoring in school zones. At the two intervention schools, infrastructure conditions improved from 1.0-star rating to 4.2 and 3.5 stars using the Star Rating for Schools tool. The project also contributed to lower vehicle speeds, provided road safety training for 500 students and achieved a reported 58% reduction in self-reported crashes. iRAP was proud to serve as the technical advisor to the project, supporting evidence-based approaches to infrastructure safety and helping to guide interventions that protect people walking, cycling and travelling to and from school. The WHO recognition is particularly significant given the strong level of regional participation. More than 150 cities from across the Asia-Pacific region applied for the awards, with only eight cities ultimately selected for recognition. The award demonstrates how targeted investment in safer roads and sustainable transport can contribute to healthier, more equitable cities while supporting broader goals for urban development and quality of life. iRAP congratulates the Phnom Penh City Hall and all project partners on this important achievement and looks forward to continuing to support initiatives that deliver safer roads and safer journeys for everyone. Read original article hereRead more on the project here
The Second Global Business Summit on BRI Infrastructure to Accelerate the SDGs Held in Singapore
/PRNewswire/ -- The Second Global Business Summit on Belt and Road Infrastructure Investment to Accelerate the SDGs was held in Singapore under the theme...
AI optimism vs. anxiety — podcasters debate this every night
President Donald Trump, CNBC’s “Mad Money” host Jim Cramer and entrepreneurial “accelerationists” celebrate the AI revolution and the infrastructure data-center build-out. Cramer recently gushed, “I like data centers so much that I wish I lived in one.” Trump criticized any community that opposes them as losers who will lose jobs and taxes — and will weaken […]
Chamber looks to build on business recruitment momentum
The El Dorado-Union County Chamber of Commerce is working with seven active state recruitment and expansion projects, has helped support 201 new jobs and is putting more attention on housing, infrastructure, health care and workforce needs.
Three killed in Israeli strikes on Lebanon, health ministry says
The Israel Defense Forces (IDF) said it had targeted Hezbollah infrastructure in southern Lebanon "in response to Hezbollah’s attempted attack yesterday against IDF troops operating in the security zone."
Learn Science with Dr. V: Flash flood to destruction
Explore how a collapsing Himalayan glacier triggered a fast-moving ice-rock avalanche and debris-laden flash flood, damaging riverside infrastructure.
The AI free zone: Why infrastructure modernization is important even if your midsized business isn’t investing in AI technologies
Discover why strategic IT modernization—not just AI—is the key to growth for midsized businesses. Learn how infrastructure upgrades drive security, scalability, and operational resilience.
VAST Data and CrowdStrike Take Aim at a Growing AI Security Problem
VAST Data and CrowdStrike are expanding their partnership to bring more security into the systems companies use to build and run AI. The companies are integrating CrowdStrike’s Falcon security platform with the VAST AI Operating System. The goal is to protect not just the infrastructure running AI, but also the enterprise data being fed into […]
In Brandon, infrastructure upgrades and a generational shift entice new business owners
After flooding from Tropical Storm Irene and years of construction headaches, downtown Brandon is seeing more new businesses open.
Citi Sees a New Catalyst for Baidu as Its AI Infrastructure Business Grows
Baidu, Inc. (NASDAQ:BIDU) may have a new near-term catalyst on the horizon, with Citi opening a 30-Day Upside Catalyst Watch on the stock. On September 2, analyst Alicia Yap reiterated a Buy rating and a $166.00 price target on Baidu, Inc. (NASDAQ:BIDU), according to a press release statement. The rating affirmation follows the firm’s 2026 […]
City of Charlotte working to help small businesses after state budget change: What we know
Local governments can no longer identify a minority or women owned businesses for targeted opportunities like construction projects or other infrastructure work.
Opinion: We are one rainstorm away from another public health crisis
New England’s infrastructure cannot handle more intense rainfall that overwhelms systems designed decades ago.
Palm Bay plans new business park in mostly undeveloped compound
Palm Bay's Phoenix Business Park gets $4.5M for infrastructure, aiming for 960K sq ft of industrial/aerospace space.
Iran attempted cyberattacks on range of U.S. infrastructure, sources say
The attempts have so far been unsuccessful, but an Iranian hacking group warned that “unexpected and critical events” would soon target American infrastructure.
European Resilience in Digital Infrastructure: The Changing Nature of State-Business Relations
As the war in Ukraine progressed, Russian strikes increasingly degraded Ukraine’s terrestrial communications infrastructure, steadily deepening Kyiv’s
South Korea science ministry seeks record $21.6 billion budget
S. Korea's science ministry proposed a record 29.6 trillion won budget for 2027, with major increases for AI models and computing infrastructure.
ALCF Service-Enabled Science Series Explores Experiment-Time Computing and the DIII-D Digital Twin
Sept. 1, 2026 — The latest session in the ALCF’s Service-Enabled Science training series explored how integrated computing resources, automated workflows, and modern data infrastructure are helping accelerate fusion research. The webinar, “Fusing Experiments, Data, and Computing at DIII-D and ALCF,” led by General Atomics’ Mark Kostuk and Brian Sammuli, is now available on the ALCF’s […]
Dialed Health Is Officially Live, with a Launch Centered Around Events
At its core, Dialed Health brings together three elements that have often been treated separately: recovery tools, community engagement, and event infrastructure.
SoHo neighbors, businesses at odds ahead of $93M flood relief vote
The city of Tampa is preparing to move forward with the South Howard Flood Relief Project, a major infrastructure overhaul designed to address chronic flooding in the South Howard business and residential area.
Nike, RAJ Epicenter Week And The Business Of Women’s Sports
Portland’s Nike Global Sport Summit and RAJ Sports Epicenter Week brought 500+ leaders together to explore investment, infrastructure and the future of women’s sports.
Jeff Rehberger and the Business of Betting Big on Illinois
Jeff Rehberger looked at that landscape and saw something else: a regulated, scalable market that would reward whoever built the right infrastructure to operate inside it seriously.
Sacoa powers cashless payments at new Saudi entertainment venue
Sacoa Cashless System has supplied the technology infrastructure for BOLTS, a new social entertainment venue in Jubail, Saudi Arabia, according to a press release. The installation includes 38 Spark RFID readers, three point-of-sale stations with readers, RFID cards, customer relationship management and online sales modules, and the Sacoa Mobile App. The integrated platform enables guests to access attractions and make cashless transactions while providing the venue with tools to manage payments and track customer activity.
Voters hate data centers. Candidates from both parties are scrambling to respond
Across the country and the political spectrum, candidates are embracing a growing backlash to artificial intelligence and the infrastructure required to power it.
Southwest inland port gets $20M state boost
The southwest Virginia inland port at Oak Park receives a $20 million state budget allocation to support site development and infrastructure.
Data center growth could outpace power generation
Dominion Energy confronts rising power demand from nearly 650 data centers in Virginia, straining the grid and prompting infrastructure investments.
Trump Says Venezuelan Oil Will Refill U.S. Stockpiles, but It’s Not So Simple
New projects can take years to produce meaningful amounts of oil, and that’s especially true in Venezuela, where infrastructure is in disrepair.
Colorado Sues EarnIn For “Immoral, Unethical, Oppressive and Unscrupulous” Business Practices
Hey all, Jason here. When this hits your inbox, I should be en route to the airport — not to go anywhere myself, just to pick up my better half. I must admit, it’s been strange to be home alone (well, with two dogs) for two weeks! Really lets me “optimize” to spending more time on reading/writing/working, whether that’s healthy or not! Looking forward to getting back into a (somewhat) more balance routine. Subscribe or Support by Upgrading Compare Notes With the People Who Built Modern Fintech Partner content: Remitly CEO Sebastian Gunningham. Increase founder Darragh Buckley. Linda Du, Co-founder & President at Valon. They’ll unpack the decisions behind building and scaling major financial products: what they got right, what broke, what they would do differently, and how AI and new infrastructure are changing the operator playbook. Most events tell you where fintech is going. NerdCon puts the people who built the present in the room and asks them what comes next. Expect an operator-led conversation grounded in real products, real trade-offs and lessons earned the hard way. Fintech Business Weekly readers save 20% on Regular tickets with code FBW20 before standard pricing ends September 11. Meet the Builders Things To Know & Other Good Reads Advent and Stripe Abandon $50 Billion Pursuit of PayPal (Bloomberg) Trump Family’s New Crypto Bank Is Backed by Abu Dhabi Sheikh (Wall Street Journal) The multiplying risks of financing data centres (FT) Let the Bond Market Speak (Wall Street Journal) Did we waste a crisis? Modest proposals to reform deposit insurance. (Fintech Takes Banking) Untangling Guggenheim: How Private Credit Built Its Own Universe (Net Interest) The Hater’s Guide To Circular Financing — Part One (Ed Zitron) Fiat Ventures Rebrands to FGV Capital, Announces $35M Oversubscribed Fund II (BusinessWire) Socure Announces Strategic Growth Investment at $5.2B Valuation and Acquires Agentic Operations Platform Fravity (Socure) Listen: When Consumer Protection Disclosures Work Too Well (Consumer Finance Monitor Podcast) Colorado Sues EarnIn For “Immoral, Unethical, Oppressive and Unscrupulous” Business Practices When Andreessen Horowitz led EarnIn’s $39 million Series B in 2017, Alex Rampell, a partner at the storied venture capital firm, described EarnIn’s small-dollar advance product as “free,” relying on “entirely on voluntary contributions instead of fees.” Rampell favorably compared EarnIn’s approach to typical payday loans, writing, “Payday loans historically have had the potential to be a slippery slope for consumers into financial distress: opaque systems and steep fees that are hard to repay and set individuals back further than where they started. For many Americans living paycheck to paycheck, that kind of slide into debt can be extremely difficult to recover from.” But EarnIn’s product — which, the company says, isn’t a “loan,” legally speaking — ends up being anything but free for most users. While it is technically possible to take a no-fee advance from the company, most users incur “Lightning Speed” (instant funding) fees and/or ostensibly optional tips that combined can equate to annualized percent rates that can reach over 1,000%. With an average term of 9.77 days, even fees and tips that are small on an absolute dollar basis are equivalent to high APRs on an annualized basis. A lawsuit filed last week by Colorado Attorney General Phil Weiser against EarnIn describes the company and its product and business practices quite differently than Andreessen’s Rampell; “EarnIn’s business practices are unfair because they are immoral, unethical, oppressive and unscrupulous,” the complaint, filed in District Court in Denver, Colorado, says. EarnIn’s marquee product, Cash Out, isn’t a loan, the company says, as Cash Out is not “[f]orward [l]ooking” because “[t]he money is transferred based on earnings to date,” does not carry a mandatory fee to access funds, and is “non-recourse,” meaning EarnIn cannot pursue recovery from users who don’t repay advanced funds. EarnIn is sometimes referred to as an “Earned Wage Advance” service. Though, unlike some others in the broader category, EarnIn does not integrate with employers’ payroll or time and attendance systems. Rather, EarnIn attempts to verify a user’s income and employment, by examining direct deposit transaction data in their linked external bank account, by using GPS location and Bluetooth data to estimate a user’s time spent at work, if they work in a fixed location, and/or by having a user provided a work email address. While repayment is theoretically optional, as EarnIn would have no recourse, such as reporting non-payment to the credit bureaus or a collections agency, this is anything but clear to users of the EarnIn app, Colorado’s complaint argues. During the process of taking a Cash Out, users must agree to a preauthorized debit of the amount advanced, plus any expedited funding fee and/or tips. Though users technically can revoke this ACH authorization, the fact that they have this right isn’t presented to users during the Cash Out process, but rather is included in linked terms and conditions few users are likely to actually read. And users who do wish to revoke their ACH authorization must do so three or more days before the scheduled transaction date by emailing EarnIn’s customer support. Similarly, EarnIn’s marketing claims that it carries “no interest” and “no mandatory fees” is technically true, but is not the reality for many of the app’s users, the Colorado complaint argues. Further, EarnIn has extensively marketed to users the ability to “access your pay today,” to get “instant” funds, and to get funds “the same day you work” — when, in reality, this speed of access was only possible by paying the additional, undisclosed Lightning Speed fee. The Colorado complaint highlights this contradiction specifically, noting: EarnIn tells consumers that they can ‘Make any day payday with EarnIn’ and that there no ‘hidden’ or ‘mandatory fees.’ For a consumer to access their pay on the same day requested, they would have to pay the Lightning Speed fee. In the fine print of the advertisement EarnIn discloses that ‘[f]ees apply to use Lightning Speed,’ a direct contradiction to the larger text of the advertisement, and a fact that would not be immediately understood by a consumer as ‘Lightning Speed’ is not defined nor explained. Like other small-dollar lending services, rather than explicitly charge interest, EarnIn collects a markup on the optional Lighting Speed fee, which, given the nature of the transactions, many users opt for, as well as offering users the option to leave “tips.” EarnIn leverages either Real-Time Payments (RTP) rails or push-to-card via debit rails if a user opts for the optional Lightning Speed. But while these capabilities cost EarnIn, on average, $0.075 or $0.20 per transaction, respectively, EarnIn charges users significantly more. Initially, EarnIn charged as little as $1.99 for Cash Outs up to $24. But EarnIn has hiked these fees multiple times, and now charges $4.99 for Cash Outs up to $75 and $6.99 for those over $75. According to the Colorado complaint, EarnIn leverages “dark patterns” to manipulate users and to make it more difficult to avoid tipping. Examples of these “road blocks” highlighted in the complaint include: As of 2023, in the EarnIn app, a consumer attempting to get a loan under the default settings had to make at least eighteen separate taps to complete the transaction and reduce the tip to $0. There is an alternative method to leave a $0 tip, via the “Custom tip” feature, but EarnIn made this option difficult to access by visually deemphasizing it and positioning it near devices’ “home” button. Using language and imagery such as “Tip to pay it forward,” “Your generosity supports the service + helps,” “Your tips make a difference,” and “[t]he APR for this cash out is 0%. Your tips help support us.” While Lightning Speed and tipping are, in theory, both optional, in practice, users nearly always ended up paying something. According to the Colorado suit, users were charged either a tip or an expedite fee for more than 92% of transactions, with an average APR of nearly 388%. And, although the advances are “non-recourse,” EarnIn successfully collects on nearly all transactions — 99.18%, according to the complaint, which, Colorado argues, “demonstrat[es] that EarnIn’s advances function as high cost loans, not voluntary payments.” The share of EarnIn users incurring fees — despite the product being marketed as 0% APR — is hard to reconcile with Andreessen investor Rampell’s favorable description of EarnIn vs. “opaque systems and steep fees” associated with payday loans, which, Rampell says, can be “extremely difficult” for borrowers to extricate themselves from. According to Colorado’s suit, EarnIn’s Cash Out product “trapped many consumers in extreme cycles of high-cost reborrowing.” The suit gives an example of one consumer in the state, who took out a whopping 1,151 loans, paying a total of $4,038.50 in Lightning Speed expedited funding fees on loans that averaged the equivalent of 1,421% APR. Another Colorado user, the suit says, took out 1,033 loans, paying $8,561.22 in tips and fees at an average APR of 1,539% . These types of usage patterns demonstrate “the severe and repeated financial harm caused by EarnIn’s illegal lending model,” the Colorado complaint argues. In aggregate, from January 2023 through July 2025, EarnIn extended 3.1 million loans to 56,778 users in Colorado — an average of nearly 55 transactions per person during the time period. EarnIn lent more than $300 million and collected more than $16 million from Colorado users in Lightning Speed fees and in tips. Ultimately, the Colorado complaint argues that “EarnIn’s Cash Outs are loans under Colorado law, and EarnIn’s contention that its product is not a loan based on its disclaimer of any legal repayment obligation lacks any real-world significance given how the Cash Out transactions actually operate in practice.” Colorado further argues that “EarnIn was not working with companies here in providing consumers with funds but acted as a third-party lender and charged illegally high rates, used deceptive design strategies to extract some charges, and trapped consumers in repeat borrowing. Colorado will continue to stand up for consumers and hold companies accountable when they violate our credit laws or attempt to evade them through misleading practices.” Colorado’s suit alleges EarnIn assesses finance charge in excess of that permitted by Colorado law, that EarnIn failed to make legally required disclosures to Colorado borrowers, that EarnIn made supervised loans to consumers without obtaining the requisite license, that EarnIn violated the state’s Deferred Deposit Loan Act, that EarnIn engage in unfair and deceptive trade practices, and that EarnIn made false or misleading statements concerning price. The suit seeks a court order enjoining EarnIn from violating relevant Colorado laws, for EarnIn to refund amounts charged in excess of state law, fees, costs, and penalties, and other relief the court deems to be just. Fintech Business Weekly is made possible by the generous support of paying subscribers — bringing you independent analysis of banking, fintech, and crypto without fear or favor. You can support my work by becoming a paying subscriber if you aren’t already. Paying subscribers enjoy: access to the entire archive of nearly six years of newsletters extended versions of the weekly newsletter, with additional content and analysis and (for founding member tier) quarterly personal 1:1 fintech Q&A / strategy calls with me, tapping into my unparalleled knowledge of the intersection of banking and fintech and experience working in the sector, including helping to launch Goldman Sachs’ retail bank Marcus Support Fintech Business Weekly You can also support Fintech Business Weekly by sponsoring a newsletter or podcast, putting you in front of 93,000+ of the most influential decision makers in banking, fintech, and crypto. Learn more about sponsor opportunities or request a media kit by dropping me an email. Q2 Quarterly Banking Profile: Five Quick Takeaways The FDIC released its quarterly banking profile, which is always worth a read, for the second quarter. The profile provides an aggregate snapshot about the overall health of the 4,238 institutions whose deposits are insured by the FDIC, who, collectively, hold more than $26 trillion in assets and saw a total net income of more than $90 billion in the second quarter. Net income was up 12% vs. Q1 2026, with lower provisions and realized gains on securities helping to drive the improvement, somewhat offset by increases in non-interest expense and applicable income taxes. Overall net interest margin was basically flat quarter over quarter (up 1 basis point vs. Q1 2026), though community banks saw NIM grow by 10 basis points, to 3.81%. Unsurprisingly, given that interest rates haven’t changed, unrealized losses on securities changed little, edging up slightly to $326.7 billion vs. $325.1 billion in Q1 2026. Aggregate credit quality has remained benign, with asset quality actually improving slightly in Q2. Overall, institutions reported a 9 basis point decline in their past-due and non-accrual rate, to 1.44%. Net charge off rate also declined by 2 basis points, to 0.57%. And finally, the FDIC’s deposit insurance fund stands at $161.1 billion, making the DIF reserve ratio 1.48% — above the statutory minimum of 1.35%, but still below the designated target reserve ratio of 2%. [Paid Subscriber Exclusive] Nissan Withdraws ILC App, State Associations Plan BankChain Alliance, FDIC Defines “Unsafe or Unsound Practice” For First Time Automaker Nissan withdrew its application to charter a Utah industrial loan company and its corresponding application to the FDIC for deposit insurance last week, on August 19th. Nissan’s application had been outstanding for more than a year, as it originally applied in June 2025. Recent applications to the OCC to form national banks have been decisioned, one way or the other, substantially more quickly than has historically been the case.
12TB Steam leak exposes old game builds from 2003 to 2013
A roughly 12TB archive from Steam's old Steam2 infrastructure reportedly contains thousands of game depots dating from 2003 to 2013. Portal 2, Left 4 Dead and early CS:GO builds are included.
Infrastructure Summit and Fed reports: D-FW Business Datebook
The North Texas Commission hosts Infrastructure Summit with regional mayors, builders and state transportation officials. It's among several key business events in Dallas-Fort Worth this week.
NVIDIA Buys Hugging Face: Three Implications For Your Business
NVIDIA is reportedly buying Hugging Face. What the deal means for open-source/open-weight AI infrastructure. Three implications and immediate actions for your business.
New data infrastructure award to help scientific communities build domain-specific platforms for collaborative data science and AI
UC Irvine’s Chen Li to help lead NSF-funded national effort
Parkersburg City Council: Water, business grants debated
Parkersburg City Council tackled water infrastructure and small business funding at Tuesday’s meeting.
Kellogg Square business center, sold for $11.3 million, to become 'catalyst' growth of Old Town Goleta - Santa Barbara News-Press
As new housing projects make progress near Old Town Goleta, Kellogg Square will provide business and retail infrastructure.
CT AHEC and Public Health Department Sanitarians Team Up With Teens for Workshop to Solve a Food Illness Outbreak
CT AHEC's Public Health Infrastructure Grant (PHIG) program in action.
Siri AI Will Have a Waitlist When iOS 27 Launches
iOS 27, iPadOS 27, and macOS Golden Gate include Siri AI, Apple's much more capable version of Siri. When the new updates launch, it appears Apple will use a waitlist and limit initial access. On the MacRumors forums, Mactracker found that the seventh betas of iOS 27, iPadOS 27, and macOS Golden Gate include waitlist infrastructure. Apple will use dynamic wait time messages once a user joins the Siri AI waitlist.
This Week: SF Politics, Bike East Bay Volunteer Night, SFMTA Photo Archive
Here is a list of events this week. Tuesday SF Politics 101 with Joel Engardio. SF Politics 101 is a look at how local politics work and the history that shaped San Francisco—brought to life with visuals and narrative storytelling. Tuesday, August 25, 6-7:15 p.m. SPUR Urban Center, 654 Mission Street, S.F. Register to attend. Tuesday Bike East Bay Volunteer Night. Tackle projects while socializing with fellow advocates. Snacks provided. Tuesday, August 25, 6-8 p.m. Bike East Bay Office, 466 Water Street, Oakland. Wednesday SFMTA Photo Archive and Peter Hartlaub. Go back in time for an evening of photos, stories and conversation with the Chronicle, Mayor Art Agnos, and S.F. Muni. Wednesday, August 26, 5:30 p.m. Gray Area Foundation / Grand Theatre, 2667 Mission Street, S.F. Get tickets. Wednesday Smart City Cycling. Join the San Francisco Bicycle Coalition for a presentation for people interested in biking but intimidated by urban traffic plus anyone already riding who wants to hone their skills. Wednesday, August 26, 6-7:30 p.m. Anza Branch Public Library, 550 37th Avenue, S.F. Thursday Member Repair Party. Join the San Francisco Bicycle Coalition and learn how to repair your bike. Thursday, August 27, 5-7 p.m. San Francisco Bicycle Coalition, 1720 Market Street, S.F. RSVP required. Saturday The Bay Ride. Circumnavigate the San Francisco Bay while raising funds for cycling infrastructure that makes streets safer for everyone. Saturday, August 29, 7 a.m.-5 p.m. Starts at Sports Basement Presidio, 610 Old Mason Street, S.F. Saturday Flat Fix Clinic for Students and Families. Join the Safe Routes to School team at the Marina Branch Branch Library for a hands-on flat fix clinic. Saturday, August 29, 2-3:30 p.m. Marina Branch Public Library, 1890 Chestnut Street, S.F. Got an event we should know about? Drop us a line.
Sudan’s conflict worsening, UN political and peacebuilding chief warns
On 24 August, the Security Council held a briefing on Sudan at the request by Denmark to discuss the protection of civilians and the humanitarian consequences of the ongoing conflict. “The consequences of this conflict will be long-lasting and should shock us all,” said Rosemary DiCarlo, Under-Secretary-General for Political and Peacebuilding Affairs.Civilians face one of the worst humanitarian crises, she said, as they deal with frequent drone attacks against markets, schools, fuel stations and water infrastructure, and the rainy season. Some 13 million people have fled their homes, but access challenges have made it impossible to confirm the true death toll, "it is likely to be in the hundreds of thousands", she said. “Brutal mass killings and atrocities, abductions of women and girls and mass rapes are recurring patterns,” she warned.In North Kordofan, drone attacks continue as both parties compete for control of strategically important towns, she said, reiterating deep concern at the imminent risk of large-scale atrocities by the Rapid Support Forces in and around El abdede. Drone strikes near Tina, on Sudan’s border with Chad, where the refugee influx has intensified pressure on already scarce land, have led to violent disputes over resources. Plus numerous armed movements are pursuing their own territorial and political interests. The UN continues to support efforts of the QUAD - United States, Saudi Arabia, Egypt, United Arab Emirates – for a humanitarian truce. And it is working with the Quintet partners, the African Union, the Intergovernmental Authority on Development (IGAD), the League of Arab States, and the European Union to help advance a viable political path. “Our goal is to build confidence in the political path and pave the way for an inclusive Sudanese-led dialogue for a shared vision for the country’s future,” she said. Sudanese authorities have also bolstered efforts to support civilian dialogue. “Their desire for an inclusive and durable peace is clear,” she said. Both parties must now make concrete commitments on releasing of prisioners, particularly vulnerable groups such as women and children. “The Personal Envoy will travel to Sudan shortly to advance these conversations," she said.
Popular Tennessee music festival hits pause for 2027 after weather woes
The annual event will skip 2027 to give its Tennessee grounds time to recover from repeated storms, despite infrastructure improvements made ahead of the 2026 festival.
Building the beat: How New Orleans can grow the business behind the music
People dance to the music of the TBC Brass Band Photo by Michael DeMocker / The Times-Picayune This week New Orleans hosts the annual Cutting Edge CE Conference, which brings together members of the music industry, musicians, lawyers and others to learn about and discuss the latest changes in the business of making, producing and selling music. googletag.cmd.push(function() { googletag.display('ad-1492300'); }); The conference comes as AI and streaming are causing upheavals in the industry. Meanwhile, we’ve seen at least a partial collapse of the global festival industrial complex which has long been a key financial lifeline for many artists.All of that can feel a bit removed from life in New Orleans. After all, we are a city filled with music. On any given day or night, there are dozens of shows across the city, ranging from jazz and blues to hip-hop, bounce and house. Whereas in other cities kids dream of being the star of their local sports team, in New Orleans more often than not they dream of leading their own band.And music is a huge part of our economy. Before New Orleans was known as a foodie destination, it was already drawing millions of visitors from around the globe to experience our jazz, soul and funk scenes firsthand.But the reality is, if you want to make it big, you’re probably going to end up leaving the city. We’ve seen major performers like Lil Wayne, Master P and Jon Batiste (though he’s back on the Northshore) decamp to Los Angeles, Miami and New York. Likewise, up-and-coming musicians like Greer Grimsely, $leazy EZ and Lucky Daye have also left town in search of more profitable pastures.Meanwhile, our local universities train some of the best producers and engineers in the business — only to see them head to one of the big music industry cities after graduation.It’s not a new phenomenon, though the reasons have changed over the years. Like a lot of early jazz musicians, Louis Armstrong famously left New Orleans, first for Chicago before ultimately settling in New York City. But while those early migrations had more to do with racism, in today’s day and age, musicians end up leaving because New Orleans doesn’t have the industry infrastructure necessary to sustain the kind of growth and, well, success, a lot of folks dream of.It’s a hard, but very real, truth. Artists have to go to Nashville for publishing, Los Angeles for production, Atlanta to join a label or New York for representation. That, in turn, is a drain not only on the city’s talent pool but on money that could be staying here at home.Not being an industry town inevitably makes it that much harder for musicians who don’t leave to get the recognition and success they deserve. It also undoubtedly plays a part in keeping the wages working musicians in New Orleans make at their gigs here lower than in places like Austin or Nashville.That’s not to say we don’t have any of the infrastructure needed to make New Orleans a music industry town. We’ve got live music venues, studios, record labels, management companies, copyright attorneys ... all the various building blocks are there. We just haven’t ever built upon that solid foundation. googletag.cmd.push(function() { googletag.display('ad-1492297'); }); The question is how do we do that in a way that supports our existing industry and artists, respects our cultural traditions and ensures the wealth generated is equitably distributed so it isn’t just C-suite executives who end up reaping the benefits. And the time to start figuring out the answers is now: next year the legislature will focus on taxes and spending, making it vital that New Orleans leaders have a plan to try and secure funding to help grow our industry.So we asked a group of New Orleanians to give us their thoughts, ranging from industry attorneys and venue operators to working musicians and cultural advocates. Their answers point toward turning New Orleans into a music industry city without leaving musicians behind or abandoning what makes us the greatest music city on earth.If a dusty city like Austin can transform itself into a major hub not just for music but the industry behind it, surely the birthplace of jazz — and pretty much all modern music by extension — can figure it out as well. +3 Mailbox Money: The Recording Academy’s Reid Wick on supporting, and growing, New Orleans’ music industry Reid Wick has been a part of the New Orleans music landscape from virtually every angle. He'… California Dreaming: Pell discusses his time in L.A. and how New Orleans can help young musicians In 2015, New Orleans-born rapper Pell decided to make the move to Los Angeles. He was fresh … +2 Up from the street: To build a stronger music industry, support community first. At MaCCNO, most of our team aren’t just advocates, we’re also working musicians. Here are a … +2 Live and direct: Public investment in independent venues is key to a robust music economy. I’ve spent most of my adult life looking at the New Orleans music business from every side o… +2 Helping Hand: New Orleans doesn’t need more talent. It needs more infrastructure. People love to call New Orleans a music town. And they’re right. +2 \We out here: New Orleans doesn't need to be Austin. It's already a music industry city. +2 Futureshock: New Olreans has the music talent. Now it needs the innovation. New Orleans has long been known as a place for music creation and innovation. People travel … .donate-gambit-article-module-container { text-align: center; padding: 10px; /* background-color: #24da6d; */ background-color: rgb(153, 0, 0); margin-bottom: 20px; } .donate-gambit-article-module-title { font-weight: bold; color: #fff; } .donate-gambit-article-module-copy { color: #fff !important; font-size: 16px; } .donate-gambit-article-module-button { background-color: black; width: 50%; border-color: black; font-size: 16px; } .donate-gambit-article-module-button:hover { background-color: black; } @media only screen and (max-width: 600px) { .donate-gambit-article-module-button { font-size: 14px; width: 100%; } .donate-gambit-article-module-copy { font-size: 14px; } } BECOME A GAMBIT MEMBER AND JOIN OUR KREWE TODAY For more than 40 years, Gambit has covered New Orleans, for New Orleans. We’ve stood up to city hall with you, cheered the Saints with you, danced in the streets with you and cried over our collective loss with you. And we’re plannin’ on being here for 40 more. To do that, we need your help. Become a Gambit member today and help us continue our mission SUPPORT GAMBIT
WHO RUNS MARYLAND POLITICS NOW?
ByThe Maryland Wire The Machine Didn’t Die — It Broke Apart Mike Miller is gone. Steny Hoyer is retiring. The two men who helped define Maryland political power for generations are disappearing from the map. Nobody has inherited all of what they controlled. Instead, Maryland power has fractured among Wes Moore, legislative leaders, county organizations, federal figures and a new generation fighting to connect the pieces. By The Maryland Wire For decades, there were two names in Maryland politics that required almost no explanation. Mike Miller. Steny Hoyer. You didn’t necessarily have to agree with them. You didn’t even have to like them. But everyone understood something: Not social-media power. Not cable-news power. Not the temporary power that comes from one big election. They possessed political infrastructure. Relationships. Institutional memory. Donors. Staff. Allies. County leaders. Lobbyists. Legislators. Operatives. And the ability to connect people who needed something with people capable of delivering it. Today one is gone. The other is preparing to leave Congress after more than four decades. And Maryland faces a question it hasn’t had to answer in generations: The answer may be: Nobody. At least not the way Miller once did. Maryland’s old machine wasn’t inherited by one person. It fragmented. And now several ambitious political networks are competing to assemble the pieces. Miller presided over the Maryland Senate for 33 years, becoming one of the longest-serving legislative leaders in American history. He stepped down as Senate president in 2019 and died in January 2021. (Behavioral and Social Sciences) But Miller’s real power wasn’t the title printed on his door. It was the accumulation of relationships behind it. Miller came from Maryland’s old Democratic organization and developed into an extraordinarily adaptable political operator, retaining authority even as the Senate around him became younger and more liberal. (The Washington Post) He understood something fundamental: politics is information. Who wants what? Who owes whom? Which senator needs help? Which county executive wants something in the budget? Which committee chairman can move a bill? Which lobbyist represents which client? Which candidate should receive support today because that candidate could be a senator ten years from now? Miller knew the answers because he’d spent decades collecting them. Miller’s influence wasn’t confined to elected officials. Former Miller aides became prominent Annapolis lobbyists. Maryland Matters noted figures such as Joseph Bryce and Timothy Perry among the high-profile lobbyists who had once served as top Miller aides. (Maryland Matters) That was one of Miller’s greatest political achievements. He didn’t merely accumulate power around himself. He produced alumni. Staffers became lobbyists. Legislators became committee chairs. Allies became power brokers. And decades of relationships reinforced one another. By the end, Mike Miller wasn’t simply a person. He was an ecosystem. Hoyer’s network was different. Miller’s power was rooted in Annapolis. Hoyer connected Maryland to Washington. He served in the Maryland Senate before winning election to Congress in 1981 and ultimately became one of the longest-serving members of the U.S. House and a longtime No. 2 in House Democratic leadership. In January 2026, Hoyer announced that he would retire rather than seek another term. (The Washington Post) His influence stretched through: Prince George’s County, Southern Maryland, Congress, federal agencies, donors, campaign organizations, and generations of Democratic candidates. And Hoyer had something machine builders value enormously: a succession network. That became obvious almost immediately. When Hoyer announced his retirement, Maryland’s 5th Congressional District exploded with candidates. Twenty-four Democrats entered the race. But when the votes were counted, the winner was Adrian Boafo, Hoyer’s former campaign manager. Boafo wasn’t running without establishment help. He was endorsed by Hoyer. He was endorsed by Governor Wes Moore. And he ultimately won the Democratic nomination. (AP News) In his victory speech, Boafo described the result as voters deciding it was time to “pass the torch to a new generation of leaders.” (AP News) That phrase captures the transition perfectly. Hoyer’s seat isn’t simply being vacated. Parts of his network are being transferred. But they aren’t being transferred to another Steny Hoyer. They’re being absorbed into a newer political constellation. And standing prominently inside that constellation is Wes Moore. If someone forces you to name the single person sitting nearest the center of Maryland Democratic politics today, the answer is Governor Wes Moore. The 2026 Democratic gubernatorial primary underscored the scale of his position. Moore won renomination overwhelmingly, receiving roughly 88% of the Democratic primary vote. (WBAL-TV) But raw votes tell only part of the story. Look at the party infrastructure. The Maryland Democratic Party says Steuart Pittman ran for state party chairman in 2025 “at the suggestion of Governor Wes Moore.” Pittman took office that July. (The Maryland Democratic Party) That’s important. Governors traditionally influence their state parties. But party leadership plus fundraising, endorsements, executive appointments and national relationships creates the beginning of something bigger: a political network that could survive the governor’s term. Moore also played a role in the Hoyer succession by backing Boafo. That’s how political organizations reproduce themselves. You support tomorrow’s politician today. And that’s the distinction that matters. Moore has enormous statewide visibility. Miller had decades of accumulated legislative control. Moore can endorse candidates. Miller could influence the environment in which legislators lived every day. Committee assignments. Leadership positions. Legislative priorities. Relationships that had been accumulating since before many current lawmakers entered politics. Moore may have a larger national profile than Miller ever possessed. But he doesn’t possess Miller’s half-century of Annapolis memory. Nobody does. Which is why the modern Maryland political structure looks less like a pyramid and more like several power centers connected by overlapping relationships. One of those centers belongs to Senate President Bill Ferguson. Ferguson controls an institution no governor can simply command. The Senate. Maryland’s official 2026 legislative records identify Ferguson as Senate President. (Maryland General Assembly) That means influence over: committee structure, Senate leadership, legislative priorities, confirmations, and negotiations with the House and governor. But Ferguson is not Mike Miller 2.0. Miller’s extraordinary longevity allowed him to become almost inseparable from the institution. Ferguson possesses the office. Miller possessed the office plus decades of political mythology and accumulated relationships. Those aren’t the same thing. The House now has its own new center of gravity. Official 2026 legislative records identify Joseline Peña-Melnyk as Speaker of the House of Delegates, alongside Ferguson as Senate President. (Maryland General Assembly) That makes the current Maryland governing triangle: Executive power. Senate power. House power. None fully controls the others. And that fact alone demonstrates how different modern Maryland is from the Miller era. The governor proposes. The legislature disposes. Committee leaders negotiate. County interests intervene. And political coalitions shift issue by issue. That’s not one machine. That’s a networked power structure. Then there’s U.S. Senator Angela Alsobrooks. Her significance isn’t that she is the new Hoyer. She isn’t. Hoyer spent decades constructing his network. Alsobrooks brings something different: Prince George’s County roots, a statewide electoral organization, a United States Senate platform, and relationships with national Democratic leaders. That makes her a critical bridge between Maryland and Washington at precisely the moment Hoyer leaves. Hoyer’s retirement therefore doesn’t necessarily weaken Prince George’s influence. It changes who carries it. Prince George’s itself is undergoing a dramatic generational transition. Official 2026 results show Aisha Braveboy winning the Democratic County Executive primary with 87,944 votes and 73.31% of the vote. (Maryland State Board of Elections) That’s political infrastructure. Prince George’s is one of Maryland’s central Democratic vote engines. A county executive with that level of primary support gains: appointments, budget influence, organizational relationships, donor access, and a platform for cultivating the next generation of political leadership. Braveboy therefore isn’t merely another person on the Maryland power map. She controls a place from which a political organization can be built. Boafo is particularly interesting because he sits almost perfectly at the intersection between the old and new worlds. He worked for Hoyer. Hoyer endorsed him. Moore endorsed him. Then Boafo beat an enormous Democratic field for Hoyer’s seat. (AP News) That doesn’t make him powerful on Hoyer’s scale. He’s just beginning. But it illustrates how power actually transfers: not through a ceremonial handoff, but through endorsements, donors, staff, relationships, and voter confidence. Boafo may become Hoyer’s congressional successor. He will not automatically inherit Hoyer’s 40-plus years of political capital. That part has to be rebuilt. This is the part that often gets overlooked. When a machine breaks apart, power doesn’t only move upward. Some people’s relationships become less valuable. Former Miller aides still know Annapolis. Former Miller allies still possess institutional memory. Veteran lobbyists don’t forget how legislation works. But something fundamental disappeared when Miller did: the common center. The person capable of connecting all of them instantly was gone. That changes the value of a political network. Imagine knowing everybody in Annapolis. Useful. Now imagine the person who introduced many of those people, appointed committee chairs, influenced Senate priorities and understood decades of relationships is simultaneously Senate President. Much more useful. Remove that person and the individual relationships remain. But the system becomes decentralized. First: Bill Ferguson. The Senate’s institutional relationships now run through his leadership rather than Miller’s. Second: the House leadership. With the Miller-Busch generation gone, today’s House leaders are building their own committee chairs, alliances and relationships. Third: Wes Moore. Moore became governor after Miller was gone. That distinction matters. Earlier governors had to operate with Miller sitting across State Circle. Moore entered office during a generational reset. Instead of negotiating with the old machine, he has the opportunity to help build the next network. Fourth: Angela Alsobrooks and the emerging Prince George’s generation. Hoyer is leaving. Miller is gone. The county’s political leadership now belongs to another generation. Fifth: politicians who were outside the old Miller organization. When someone dominates an institution for 33 years, inevitably some politicians develop within that organization and others outside it. Miller’s departure created room for people who may never have risen as quickly under the old structure. That’s the biggest point. If Mike Miller’s power had simply transferred to Bill Ferguson, Maryland would still have a machine. If Hoyer’s influence simply transferred to Boafo, Maryland would still have a machine. If every county leader simply took orders from Moore, Maryland would have a machine. None of those things happened. Instead: Moore controls the statewide executive platform. Ferguson controls the Senate. Peña-Melnyk controls the House. Alsobrooks has statewide and federal reach. Braveboy has Prince George’s executive power. Pittman leads the state Democratic Party after Moore encouraged him to seek the role. (The Maryland Democratic Party) Boafo represents the beginning of the post-Hoyer congressional generation. And Baltimore, Montgomery County, organized labor, donors and other county organizations maintain their own centers of influence. That’s not one machine. If you want to understand where Maryland power is moving, don’t simply watch office titles. Watch endorsements. Who does Moore support? Who does Alsobrooks support? Who gets Ferguson’s allies? Who gets House leadership? Who gets Hoyer’s blessing? Who gets labor? Who gets major donors? And most importantly: That is where the new Maryland network becomes visible. The Boafo race was a textbook example. Hoyer’s successor didn’t emerge randomly from 24 candidates. He had ties to the outgoing incumbent and support from the governor. The old network and the emerging one overlapped. And voters chose him. (AP News) Moore may ultimately become the most important person in determining whether Maryland develops another durable statewide political organization. But the test isn’t whether Moore himself remains popular. The test is what happens to the people he supports. Which delegates become senators? Which senators become committee chairs? Which county officials become executives? Which staffers become candidates? Which appointees become statewide leaders? Who gets his donor network? Who gets his political advisers? Who eventually gets his endorsement when Maryland faces a post-Moore gubernatorial succession fight? That’s how we’ll know whether Moore was merely a successful governor— or the founder of another generation of Maryland power. There’s another category worth watching: politicians who came from Miller’s Maryland but remain active in the new one. Dereck Davis is one. Anthony Brown is another. Veteran legislators and former officials throughout the state still possess old relationships that newer politicians don’t. These people can function as bridges. That’s important because political systems rarely reset completely. The new machine usually grows partly from pieces of the old one. Donors don’t disappear. Lobbyists don’t disappear. Operatives don’t disappear. Institutional memory doesn’t disappear. They find new centers of gravity. If you want one name: His overwhelming 2026 Democratic renomination, executive authority, national profile and influence within the Maryland Democratic Party make that difficult to dispute. (WBAL-TV) But saying Moore “runs Maryland” the way Miller once ran the Senate would oversimplify the reality. Maryland power today looks more like this: WES MOORE Statewide organization.Appointments.Fundraising.Executive government.National Democratic relationships. BILL FERGUSON The Senate.Committees.Confirmations.Legislative leverage. JOSELINE PEÑA-MELNYK The House.Committee leadership.Budget and legislative leverage. ANGELA ALSOBROOKS Statewide electoral organization.Federal platform.Prince George’s relationships.National Democratic connections. AISHA BRAVEBOY Prince George’s executive organization.County government.A major Democratic vote base. THE POST-HOYER GENERATION Boafo and the emerging political class that will have to rebuild Hoyer’s Washington-Maryland network rather than simply inherit it. It did something more interesting. Mike Miller’s influence was too personal, too old and too deeply rooted in his own relationships to be inherited whole. Hoyer’s network is too extensive and too intertwined with decades of congressional politics to fit neatly inside one successor. So the pieces are moving. Toward Moore. Toward Ferguson. Toward Peña-Melnyk. Toward Alsobrooks. Toward Braveboy. Toward younger candidates and new county organizations. And toward veteran political survivors who understand both eras. That’s the next chapter of Maryland politics. The person who eventually connects: Annapolis, Prince George’s, Montgomery County, Baltimore, labor, business, donors, the Maryland Democratic Party, and the congressional delegation will possess something Maryland hasn’t truly seen since Miller’s heyday. Not merely another elected official. And maybe that’s why searching for “the next Mike Miller” is the wrong exercise. There may never be another one. The more important question is: Miller spent half a century becoming that person. Hoyer spent decades becoming another version of it. Maryland’s current political leaders are still competing for the privilege. And until somebody actually connects all those pieces, the most accurate answer to the question “Who runs Maryland?” may be the most fascinating one of all: No one does. Not anymore. But there are plenty of people trying. Sources University of Maryland and Maryland Matters — Miller’s 33-year Senate presidency and political legacy. (Behavioral and Social Sciences) Washington Post historical reporting — Miller’s rise from Maryland machine politics and ability to retain power as the Senate evolved. (The Washington Post) Maryland Matters — former top Miller aides who moved into Annapolis lobbying and the changing Senate power structure. (Maryland Matters) Washington Post and Reuters — Hoyer’s January 2026 retirement announcement after more than four decades in Congress and his long Democratic leadership career. (The Washington Post) Associated Press — Adrian Boafo’s 2026 victory in the Democratic primary to succeed Hoyer, including Hoyer and Moore’s support and Boafo’s “pass the torch” remarks. (AP News) Maryland Democratic Party — Steuart Pittman’s official biography stating that he sought the state chairmanship at Moore’s suggestion. (The Maryland Democratic Party) Maryland General Assembly — official 2026 records identifying Bill Ferguson as Senate President and Joseline Peña-Melnyk as Speaker. (Maryland General Assembly) Maryland State Board of Elections — official 2026 Prince George’s County results showing Aisha Braveboy’s dominant County Executive primary victory. (Maryland State Board of Elections) 2026 election reporting — Moore’s overwhelming Democratic gubernatorial primary victory. (WBAL-TV)
Reimagining how scientists study the chemistry of the air
Professor Victoria Barber and doctoral student Cooper Crabtree are spearheading Keck Foundation-funded project charting a path toward better understanding atmospheric oxidation. by Álvaro Castillo, UCLA College of Letters and Science From the vantage point of Victoria Barber, a UCLA assistant professor of chemistry and biochemistry, understanding the chemical reactions that shape air quality and climate are among the most pressing scientific challenges of our time. And thanks to a recent grant from the W.M. Keck Foundation, she and doctoral student Cooper Crabtree will spearhead a new research project exploring exactly how pollutants form in the atmosphere. Specifically, the project will examine how volatile organic compounds transform through atmospheric oxidation and explore how pollutants, like smog, form in the atmosphere. VOCs are released by sources ranging from trees and wildfires to vehicle exhaust pipes and consumer products such as cologne and perfume. As they undergo atmospheric oxidation, they can transform into a wide range of other compounds. Anyone in Southern California can attest to the urgency of this area of research — for example, in late July of this year, Los Angeles County was under an active ozone pollution advisory for almost a full week. While many people associate ozone with the protective ozone layer high in the stratosphere, ground-level or tropospheric ozone is a harmful secondary pollutant formed through atmospheric oxidation. Understanding how VOCs transform into pollutants like ozone is therefore critical to improving air-quality forecasts and informing strategies to reduce exposure. “My group is focused on trying accelerate our understanding of these networks of reactions so that we can do a better job of predicting how those pollutants form,” Barber said. “When we make decisions about how we might alter emissions, we can understand how that’s going to influence the production of these downstream pollutants.” With support from the W. M. Keck Foundation, Barber and Crabtree are developing new experimental approaches that will combine — and improve — techniques to study hundreds of chemical systems more efficiently than traditional methods allow. Instead of spending years decoding a single VOC, the project seeks to dramatically expand the pace and scale of discovery. The grant comes at a particularly important moment for environmental research. Barber, who joined UCLA in 2023, says funding for climate and air-quality research, especially for early career scientists, has become increasingly difficult to secure, a challenge compounded for ambitious projects that require building entirely new research infrastructure. The Keck Foundation’s support, Barber said, provides the flexibility to pursue bold early-stage, high-risk ideas that may be more difficult to fund using conventional federal funding sources. “It’s really, really hard to do environmental research under the current federal paradigm,” Barber said. “By stepping in and providing stable and flexible funding to explore this new idea, the Keck Foundation is making a huge difference to my research program.” In addition to funding early-career faculty, the Keck Foundation’s support is also focused on empowering graduate students like Crabtree in their scientific growth. The project gives Crabtree the opportunity to help develop an entirely new experimental approach to studying atmospheric chemistry — an experience that will provide him with valuable technical skills, scientific training and preparation for the next stage of his career. Stable funding also allows doctoral students like Crabtree to devote themselves more fully to research rather than balancing their scientific work with additional teaching responsibilities needed to cover funding gaps. “Getting to devote more of my time to research this past school year has greatly improved the pace and quality of our experiments, data analysis and planning for our future work,” said Crabtree, who is pursuing a Ph.D. in chemistry. “I feel very lucky — especially amid the current uncertainty surrounding scientific funding — to be able to continue exploring exciting knowledge gaps in our field and growing as a scientific researcher.” For Barber, mentorship is among the most rewarding and important aspects of her role as a faculty member. “Our jobs as faculty are to do good science and make good scientists,” she said. “I believe the Keck Foundation shares this belief and sees the potential positive impact this project can have.”
Texans Linked to 49ers’ Brandon Aiyuk Amid WR Room Turmoil
The Houston Texans have a strong infrastructure that could make them a fitting landing spot for San Francisco 49ers star Brandon Aiyuk. The post Texans Linked to 49ers’ Brandon Aiyuk Amid WR Room Turmoil appeared first on HEAVY.
Kentucky Business Leaders Discuss Infrastructure’s Role in Economic Growth With U.S. Transportation Secretary
Kentucky’s infrastructure and its role in economic growth were the focus on Friday as U.S. Transportation Secretary Sean Duffy joined Congressman Andy Barr, Kentucky Chamber...
Akin, an Elite Global Law Firm
Akin energy & infrastructure partner Mitch Holzrichter has been named to Crain’s Chicago Business’ 2026 Notable Leaders in Accounting, Consulting & Law, which recognizes professionals whose work…
Stolen, Broken, Destroyed: How Impunity Has Fueled Ongoing Attacks on Health Care in Ethiopia
Attacks on health care have become a major feature of armed conflict in Ethiopia. Attacks and threats to health care infrastructure, supply chains, and the health care workforce continue to be used as a tactic in conflict-affected regions of Ethiopia, including Tigray, Amhara, and Afar.
Synthesized Introduces Test Data Agent, Bringing Production-Faithful Validation to Enterprise AI Agents
London, GREATER LONDON, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Synthesized, the AI-native test infrastructure company, today announced its Test Data ...
Taking out a Russian soldier costs about $3,000, Ukraine says
Ukrainian data from over 230,000 reports a week shows it costs about $1,487 to strike infrastructure and just over $3,000 to hit a soldier, Kyiv says.
Digital Health: Is Innovation Widening the Equity Gap?
Digital health can improve access, but gaps in technology, digital skills, and infrastructure may leave vulnerable groups behind as adoption expands across healthcare.
Data Centers and Historic Heat Test Texas’ Business Strategy
Good Counsel columnist Carliss Chatman writes that recent heat waves and mushrooming data center plans in Texas are creating tension between the Lone Star state’s welcome mat to incorporate there, and it’s ability to support the infrastructure needed for business and taxpayers.
Pluto TV's New App is Rolling Out Now As Paramount Overhauls Its Pluto TV & Paramount+ Apps
Pluto TV is in the process of deploying a significant technical and design update that places its free ad-supported streaming service on the same underlying application foundation as Paramount+. The change, long planned as part of Paramount Skydance’s broader streaming infrastructure merger to use the same app for both services, keeps the two services as […]
The trouble with getting used to miracles
Success has a strange effect on wonder. It turns miracles into infrastructure!
Dave Bushaw calls for building political independent 'movement' in Iowa
Independent Dave Bushaw told Iowa State Fairgoers that he wanted to build an infrastructure for more independent candidates to run in Iowa.
NSF State and Regional Artificial Intelligence Infrastructure Hubs Webinar
Key goals of the State and Regional AI Infrastructure Hubs Program are to expand access to compute, accelerate AI-enabled scientific discovery and develop an AI…
Israeli Strikes in Lebanon Kill 9, Health Officials Say
The Lebanese health ministry said several children were killed in a strike overnight, one of the deadliest attacks in months. Israel’s military said it was targeting Hezbollah infrastructure.
New Mexico behavioral health committee approves $40M in funding for rural behavioral health plans
The New Mexico committee tasked with rebuilding the state's behavioral health infrastructure approved $40 million in funding requests Friday.
Addressing child care to build a more business-friendly NH
Businesses invest heavily in recruiting talented employees. Increasingly, employers are recognizing child care as a key component of a business-friendly New Hampshire, alongside housing, energy infrastructure and broadband.
Triangle Group Raises $15 Million To Scale Asia-Pacific Live Entertainment Platform
Triangle Group has raised $15 million in equity and venture debt to expand its live touring and festival infrastructure across Asia-Pacific. The financing consists of a $10 million equity seed round led by DSG Consumer Partners, with participation from Golden Gate Ventures, the Oberoi Family Office, and angel investors, along with a $5 million venture debt facility from Genesis Alternative Ventures.
BofA joins banks pouring billions into US infrastructure
Bank of America is the latest Wall Street firm to announce an investment in American infrastructure.
Nvidia Could Hit $7.5 Trillion in Value Thanks to This Overlooked Business Opportunity
Nvidia's networking business gives it another way to capture the tech sector's AI infrastructure spending.
We like life science, industrials, financials and tech sectors as key AI beneficiaries: CIO
Manulife Investment Management's Nathan Thooft says that while people tend to think of AI as a cloud story, in reality it is a lot of infrastructure and goes beyond language models and semiconductors.
Asia-Pacific parliamentarians urge bolder action for universal health coverage, climate resilience and responsible AI
Parliamentarians representing 16 countries from across the Asia-Pacific region concluded the Ninth Meeting of the Asia-Pacific Parliamentarian Forum on Global Health (APPFGH) today, reaffirming their key role in advancing universal health coverage (UHC) amid the risks and opportunities posed by AI and climate change. In adopting the Phnom Penh Communiqué, parliamentarians urged fellow legislators regionwide to strengthen sustainable financing for UHC to widen access to health for all, including the most vulnerable populations; promote responsible governance of AI amid ethical concerns over this fast-evolving technology; and build climate-resilient health systems to anticipate and respond to mounting pressures ranging from rising sea levels in coastal areas to air pollution and other environmental degradation.The National Assembly of Cambodia, with support from Cambodia’s Ministry of Health and the World Health Organization (WHO), hosted the Forum in Phnom Penh from 11 to 13 August 2026 – the first time the Forum has convened in a Mekong country.Parliamentarians urge action to close gaps in accessIn the Communiqué, parliamentarians recognized that at-risk and marginalized groups are the ones most severely affected by gaps in access to health services. These groups include people living in poverty, women and children, persons with disabilities, older people, migrants, refugees, and those in rural, remote or island communities. The Communiqué urges fellow parliamentarians and policy-makers to advocate for laws and policies that support sustainable financing to protect people from financial hardship, with a focus on primary health care, prevention and equity. "The Communiqué is a call to action. It sets out ambitious, concrete measures that deliver meaningful impact on the ground. We are all accountable for advancing universal health coverage and translating our commitments into tangible results. Cambodia is fully committed to advancing UHC, including the promotion of ‘healthy people, prosperous country’ campaign,” said Samdech Maha Rathsapheathika Thipadei Khuon Sudary, President of the National Assembly of the Kingdom of Cambodia.His Excellency Professor Chheang Ra, Minister of Health of the Kingdom of Cambodia, highlighted the need for collaboration beyond the health sector. “Universal health coverage cannot be achieved by the Ministry of Health alone. It requires support, particularly from parliamentarians, across political, legislative, financial, social protection, education, infrastructure, and environmental domains. While each country follows its own path, one factor is universally critical for success: strong governance and leadership. We all believe in this principle, and in our respective political roles, we remain committed to strengthening these key success factors to ensure that no one is left behind.”Promoting responsible AI adoption Parliamentarians acknowledged that, while AI has already demonstrated its ability to improve access to health services and support delivery, careful and ethical governance is necessary to safeguard quality, safety, privacy and public trust. This underscores the importance of parliamentarians in promoting legal and regulatory frameworks addressing liability, records ownership and data governance, while embracing innovation that protects ethical practice.“Without strong governance, safeguards for privacy and data security, sustainable financing, and attention to those most at risk of exclusion, new technologies may widen existing gaps instead of closing them. This is why parliamentarians matter. We pass laws. We approve budgets. We scrutinize government action. We represent communities. We can ask whether health services are reaching rural, remote, ageing, poor, and marginalized populations. We can ask whether innovation is being guided by equity, evidence, and ethics,” said Hon. Man Hee Lee, President of the Asia-Pacific Parliamentarian Forum on Global Health.Building climate-resilient health systemsParliamentarians also reiterated that the climate crisis is a direct threat to people’s health and to achieving UHC more broadly, deepening the same gaps in access already faced by at-risk and marginalized communities. They recognized the need for WHO Member States to ensure sufficient national appropriations and oversight, and for parliamentarians to raise awareness in their constituencies and mobilize local action in building climate-resilient and sustainable health systems.“Universal health coverage, climate change and AI cannot be addressed in isolation. The same communities struggling to access health services today are often the ones most exposed to climate shocks, and most in need of the opportunities AI can offer if this technology is governed responsibly,” said Dr Saia Ma’u Piukala, WHO Regional Director for the Western Pacific. “Having served previously in this Forum myself as a parliamentarian from Tonga, I recognize how the Phnom Penh Communiqué reflects the shared resolve of legislators across the Asia-Pacific region: the laws parliamentarians pass and the budgets they approve help ensure this progress reaches the people who need it most.”As the Forum drew to a close, delegates reflected on what they would carry back to their own parliaments and constituencies.“I wish to share three points here worth carrying home from Phnom Penh: we need to invest in primary health care as the foundation of coverage; we need to remove the barriers that keep people from care, whether financial, geographic or social; and we need to build systems that are inclusive by design, protecting those most at risk of being left behind,” added Hon. Ouch Borith, First Vice-President of the Senate of the Kingdom of Cambodia.###Notes for editors:The Asia-Pacific Parliamentarian Forum on Global Health (APPFGH) is a platform for parliamentarians to exchange ideas, build political will, strengthen capacity and foster collaboration towards sustainable health action. This was the ninth meeting of the APPFGH, with the theme “Universal Health Coverage in the era of Climate Change and Artificial Intelligence”. Target 3.8 of the Sustainable Development Goals calls on countries to achieve universal health coverage, including financial risk protection, access to quality essential health services, and access to safe, effective, quality and affordable essential medicines and vaccines for all. In the Western Pacific, UHC service coverage index (SDG 3.8.1) rose from 63 in 2000 to 81 in 2023 (figures include Indonesia), and roughly one in four people in the Western Pacific have experienced financial hardship (SDG 3.8.2). Progress towards UHC in the Asia-Pacific region remains uneven, with hundreds of millions of people still lacking access to essential health services or facing financial hardship due to health-related expenses. Strengthening the role of parliaments – through legislation, financing and oversight – is central to closing this gap and accelerating progress towards UHC across the region.Parliamentarians participating in APPFGH in Cambodia this week include: Hon. Pehin Dato Adanan YUSOF, Brunei Darussalam; Hon. Rosmawatty ABDUL MUMIN, Brunei Darussalam; Hon. LORK Kheng, Kingdom of Cambodia; Hon. YOS Phanita, Kingdom of Cambodia; Hon. KHOUN Khundy, Kingdom of Cambodia; Hon. HENG Halim, Kingdom of Cambodia; Hon. KHOENG Noupheap, Kingdom of Cambodia; Hon. SENG Nhak, Kingdom of Cambodia; Hon. LY Sukry, Kingdom of Cambodia; Hon. NHOEURN Raden, Kingdom of Cambodia; Hon. Dr Ratu Atonio LALABALAVU, Republic of Fiji; Hon. Vijay NATH, Republic of Fiji; Hon. Man Hee LEE, Republic of Korea; Hon. Dr Jiho CHA, Republic of Korea; Hon. Jonghun BAEK, Republic of Korea; Hon. Youngsuk SEO, Republic of Korea; Hon. Dr Phayvanh KEOPASEUTH, Lao People’s Democratic Republic; Hon. Suhaizan Bin KAIAT, Malaysia; Hon. Dr Perpetua KONMAN, Federated States of Micronesia; Hon. Ganmaa DAVAASAMBUU, Mongolia; Hon. Charmaine SCOTTY, Republic of Naoero; Hon. Vincent Ambance KUMURA, Papua New Guinea; Hon. Dr Edwin CRUZADO, Republic of the Philippines; Hon. AUUAPAAU Mulipola Aloitafua Mulipola, Samoa; Hon. ASIATA TAVUI Tafu Salevao, Samoa; Hon. Dr Alani Petelo TANGITAU, Tonga; Hon. Paul PAOLO, Republic of Vanuatu; Hon. Franklyn Ezra WILLIAM, Republic of Vanuatu.For more information, contact: WHO Regional Office for the Western Pacific: wprocom@who.int National Assembly of the Kingdom of Cambodia (International Relations Department): ir.nacambodia@gmail.com
Cerebras Systems Fast Inference Cloud Business Nearly Quadruples in Second Quarter 2026
GAAP cloud revenue grew 281%, core cloud revenue grew 287% from a year ago600 MW of data center capacity now under contractManufacturing capacity to scale more than 10x in 2026OpenAI launch partner for frontier model GPT-5.6 SolPartnerships with AMD and AWS establish Cerebras as the leader in disaggregated inference SUNNYVALE, Calif., Aug. 12, 2026 (GLOBE NEWSWIRE) -- Cerebras Systems (NASDAQ: CBRS), maker of the world’s fastest AI infrastructure, today announced financial results for the second
Shopify Inc. (SHOP) Soars as Jim Cramer Applauds AI-Driven Business Formation
Software platforms faced selling pressure due to concerns that generative AI tools would replace traditional software architectures. However, Shopify Inc. (NASDAQ:SHOP) broke away from sector headwinds after second-quarter financial results showed AI tools driving business formation rather than displacing its e-commerce infrastructure. Because Shopify serves small and medium-sized businesses requiring turnkey checkout, payment processing, and […]
Oracle is planning another round of job cuts this month
The potential layoffs reduce Oracle's payroll as it racks up billions in debt to fund AI infrastructure.
America Already Built the World's Largest Science-Vetting Machine | The Foundation for American Innovation
Every year, federal agencies assess over a hundred thousand proposals that they never fund. Treating those peer review as public infrastructure could help unlock much more philanthropic capital for American research.
ICYMI: Bernhard Capital Partners to acquire Virginia engineering firm
Baton Rouge-based private equity firm Bernhard Capital Partners has agreed to acquire Reston, Virginia, engineering and infrastructure services firm Bowman Consulting Group Ltd. in an all-cash transac… Already an INSIDER? Sign in. Already an INSIDER? Sign in
Communities Deserve Access to Inclusive and Climate-Conscious Doula Care
Doula care can drastically improve the quality of care and birth experience for pregnant people facing the climate crisis’s increasing incidences of hurricanes, flooding, and extreme heat. The changing climate directly affects pregnancy health through discrete environmental disasters (such as wildfires, extreme heat, hurricanes, flooding, and droughts) and indirectly through long-term changes in the natural and social environment (such as air quality and forced migration). Environmental disasters can cause psychological distress for pregnant and post-pregnant people due to financial and personal loss, as well as the disruption of infrastructure that they rely on such as housing, health care, work, communication, and transportation. Potential adverse pregnancy outcomes include low birthweight, preterm birth, miscarriage, and neonatal mortality.
Data Modernization Strategies from Island Public Health Leaders
Explore data modernization strategies from island public health leaders who have examined the connections between data, technical infrastructure, and more.
Bernhard Capital Partners strikes $1B deal to acquire Virginia engineering firm
Baton Rouge-based private equity firm Bernhard Capital Partners has agreed to acquire Reston, Virginia, engineering and infrastructure services firm Bowman Consulting Group Ltd. in an all-cash transac… Already an INSIDER? Sign in. Already an INSIDER? Sign in
Roundup: AI construction jobs / Jalapeño recall / US battery production
BlackRock partnership: BlackRock and its AI Infrastructure Partnership are partnering with North America’s Building Trades Unions to connect upcoming data center and energy projects with skilled construction workers. The agreement aims to address labor shortages while promoting fair wages, job protections and training, amid concerns about AI’s impact on employment and communities affected by large […]
Accelerating life science computing with AI-ready infrastructure
Discover how computing is transforming life science research through AI infrastructure, GPU acceleration, and genomics.
Mark Cruz to lead Indian Health Service amid staffing and infrastructure challenges
Senior Health and Human Services advisor Mark Cruz will now lead the U.S. agency that provides healthcare to some 2.8 million Native Americans.
Business Restructuring Review Vol. 25 No. 4 July-August 2026
In This Issue New York Bankruptcy Court: Premature Allegations of Creditor Mistreatment Insufficient to Deny Chapter 15 Recognition of Foreign Restructuring Proceeding In In re ARD Finance, S.A., No. 25-12794 (MG), 2026 WL 817458 (Bankr. S.D.N.Y. Mar. 25, 2026), the U.S. Bankruptcy Court for the Southern District of New York was presented with a petition seeking chapter 15 recognition of Luxembourg's recently enacted bankruptcy law governing judicial reorganization proceedings. The court granted the petition, turning aside challenges to recognition voiced by a creditor group arguing that recognition should be denied based upon allegations of unfairness to creditors in the Luxembourg proceeding that would make recognition manifestly contrary to U.S. public policy. According to the bankruptcy court, recognition was warranted because: (i) the rules and procedures governing the proceeding under Luxembourg law were fundamentally fair; (ii) the petition otherwise satisfied chapter 15's recognition requirements; and (iii) the creditor group's allegations were premature, given the fact that the Luxembourg court presiding over the debtor's restructuring proceeding had not confirmed a restructuring plan, and all creditors had the right to participate fully and voice their objections in the proceeding (including the right to appeal an order approving a plan). [read more …] Florida Bankruptcy Court Examines Scope of Discovery in Chapter 15 Cases In In re Banco Master, S.A., No. 25-24568-SMG, 2026 WL 931729 (Bankr. S.D. Fla. Apr. 6, 2026), the U.S. Bankruptcy Court for the Southern District of Florida granted in part and denied in part post-recognition motions filed by an insider of a foreign debtor seeking to bar or limit discovery sought by the debtor's foreign representative concerning allegedly voidable transfers involving the debtors' U.S. real property. According to the court: (i) although chapter 15 includes its own discovery provisions among the relief that may be granted to a foreign representative, the expansive discovery available in cases under other chapters of the Bankruptcy Code is also available in chapter 15 cases; (ii) the discovery sought by the foreign representative was permissible; (iii) discovery regarding matters that were the subject of a pending adversary proceeding had to be undertaken under the more restrictive rules applicable to such proceedings; and (iv) a discovery request would be barred to the extent that it sought production of documents or testimony from a subpoenaed entity that exceeded the geographic limitations specified in such rules. [read more …] Delaware District Court Affirms Chapter 15 Recognition Order Enforcing Nonconsensual Third-Party Releases In U.S. Int'l Dev. Fin. Corp. v. Credito Real S.A.B. de C.V. SOFOM, E.N.R. (In re Credito Real S.A.B. de C.V. SOFOM, E.N.R.), 677 B.R. 192 (D. Del. 2026), appeal filed, No. 26-2356 (3d Cir. June 5, 2026), the U.S. District Court for the District of Delaware affirmed a bankruptcy court order granting chapter 15 recognition to a Mexican "concurso mercantile" proceeding and enforcing nonconsensual third-party releases approved by the Mexican court. Agreeing with the bankruptcy court that the releases were not manifestly contrary to U.S. public policy, the district court concluded: "It is well settled that U.S. bankruptcy courts can give effect to foreign orders in recognized foreign proceedings pursuant to the authority granted in Chapter 15, even when those orders contain relief unavailable under U.S. law. [The appellant's] arguments misconstrue the Supreme Court's narrow holding in Purdue, applicable in Chapter 11 cases, as well as the statutory framework of Chapter 15 and its core policy objectives. Accordingly, I will affirm the Enforcement Order." The ruling has been appealed to the U.S. Court of Appeals for the Third Circuit. [read more …] Fifth Circuit: Bankruptcy Court, Not State Court, Had Jurisdiction to Allow or Disallow Administrative Expense Claim In Storey Minerals Ltd. v. EP Energy E&P Co., LP (Matter of EP Energy E&P Co., LP), 169 F.4th 609 (5th Cir. 2026), the U.S. Court of Appeals for the Fifth Circuit affirmed lower courts' rulings disallowing a creditor's administrative expense claim. It also rejected the creditor's argument that, because the claims were predicated on state law, a state court should adjudicate the merits of the state law causes of action before the bankruptcy court could allow or disallow the claim as an administrative expense. According to the Fifth Circuit, even though the causes of action were based on state law, the bankruptcy court had jurisdiction to determine whether the creditor's claims should be conferred with administrative expense priority in the debtors' chapter 11 case. [read more …] New York Bankruptcy Court: Dismissal of Involuntary Chapter 11 Case Filed Prior to Commencement of Foreign Restructuring Proceeding Unwarranted In In re Xinyuan Real Estate Co. Ltd., No. 25-10745 (PB), 2026 WL 592250 (Bankr. S.D.N.Y. Mar. 3. 2026), the U.S. Bankruptcy Court for the Southern District of New York considered the bona fides of an involuntary chapter 11 petition filed by certain holders of U.S. dollar-denominated notes against a holding company for a group of Chinese property development companies that filed a restructuring proceeding in the Cayman Islands after the noteholders filed the involuntary chapter 11 petition. The court denied the debtor's motion to dismiss the chapter 11 case. Given the timing of the filing of the Cayman Islands restructuring proceeding, the absence of any progress in the proceeding for seven months, the debtor's need to restructure notes governed by U.S. law, and the debtor's lack of any meaningful contacts to the Cayman Islands, dismissal of the chapter 11 case was unwarranted under the applicable provision of the Bankruptcy Code, international comity, or the doctrine of forum non conveniens. [read more …] Bankruptcy Court Evaluates Trustee's Authority to Sell Avoidance Actions and Right of Target Defendants to Object In In re Law Enf't Officers Sec. Union, No. 24-70277-JAD, 2026 WL 560452 (Bankr. W.D. Pa. Feb. 27, 2026), a chapter 7 trustee sought court approval to sell certain avoidance actions to a creditor of the debtor's estate. Potential targets of the subject avoidance actions objected, arguing that such claims were nontransferable powers of the trustee rather than saleable estate property and urging the court to approve their competing settlement with the trustee. The U.S. Bankruptcy Court for the Western District of Pennsylvania disagreed with the potential defendants, holding that they lacked standing to object to the proposed sale, that avoidance actions are indeed estate property, and that the sale—rather than the settlement—best served the estate's interests. [read more …] U.S. Supreme Court Bankruptcy Roundup in Brief In Keathley v. Buddy Ayers Construction Inc., No. 25-6, 2026 WL 1686028 (U.S. June 11, 2026), the U.S. Supreme Court overturned a Fifth Circuit decision judicially estopping a chapter 13 debtor from asserting a personal injury claim against a construction company because the debtor failed to disclose the claim during his bankruptcy case. In so ruling, the Court held that "[t]he Fifth Circuit erred by artificially narrowing its inquiry to whether the debtor had knowledge of the underlying facts or a potential motive to conceal the claim." It represents the first time that the Court has applied judicial estoppel in the bankruptcy context, although it has suggested in other contexts that it may be inappropriate where an inconsistent legal position resulted from "inadvertence or mistake." Also in June, the Court denied petitions for certiorari in a few notable bankruptcy cases. [read more …] Newsworthy Heather Lennox (Cleveland/New York) (Star Individual), Bruce Bennett (Los Angeles) (Senior Statesperson), Kevyn D. Orr (Washington) (Eminent Practitioner), Gregory M. Gordon (Dallas) (Band 1), Carl E. Black (Cleveland), Corinne Ball (New York) (Senior Statesperson), Brad B. Erens (Chicago), Jeffrey B. Ellman (Atlanta), T. Daniel Reynolds (Cleveland), and Dan T. Moss (Washington/New York) were recognized as leading lawyers in the practice area Bankruptcy/Restructuring in the 2026 edition of Chambers USA: The World's Leading Lawyers for Business. The 2026 edition of Lawdragon 500 Leading Bankruptcy and Restructuring Lawyers ranked the following lawyers: Corinne Ball (New York) (Hall of Fame), Bruce Bennett (Los Angeles), Carl E. Black (Cleveland), Jeffrey B. Ellman (Atlanta), Brad B. Erens (Chicago), Gregory M. Gordon (Dallas), Heather Lennox (Cleveland/New York), Joshua M. Mester (Los Angeles), and Kevyn D. Orr (Washington). Fabienne Beuzit (Paris) and Jasper Berkenbosch (Amsterdam) were among the "Leading Individuals" ranked in the 2026 edition of The Legal 500 EMEA guide in the field of Restructuring and Insolvency or Insolvency. Rodolphe Carrière (Paris) was named a "Next Generation Partner" in the practice area Insolvency. Sid Pepels (Amsterdam) was selected by Global Restructuring Review's 40 under 40 2026. He was identified as a Rising Star within the global cross-border restructuring community. Global Restructuring Review is a leading digital subscription service, news outlet, and information platform dedicated exclusively to cross-border insolvency and corporate restructuring law. Fabienne Beuzit (Paris), Rodolphe Carrière (Paris), and Isabelle Maury (Paris) were recognized in the 2027 edition of The Best Lawyers in France™ in the practice area Insolvency and Reorganization Law. An article written by Corinne Ball (New York) titled "Comity and Fairness are Critical to Granting Additional Assistance under Chapter 15: A Canadian Reverse Vesting Order and Related Releases in Proceedings Involving Canadian and U.S.-Affiliated Companies Are Approved" was published in the June 24, 2026, edition of the New York Law Journal. An article written by Caitlin K. Cahow (Detroit) titled "New York Bankruptcy Court Weighs In on Adequate Assurance of Future Performance under Assigned Leases and Chapter 11 Plan Exculpation Provisions" was published on June 8, 2026, in Lexis Practical Guidance. An article written by Trisha L. Mowbray (Real Estate; Chicago) and Ryan Sims (Washington) titled "Chapter 11 Plan that Abridged Non-Debtor Lessee's Rights to Remain in Possession After Rejection Unconfirmable as Having Been Proposed in Bad Faith" was published on June 16, 2026, in the Harvard Law School Bankruptcy Roundtable. An article written by Dan T. Moss (Washington/New York), Corinne Ball (New York), Isel M. Perez (Miami), and David S. Torborg (Washington) titled "Texas Bankruptcy Court Adopts Barnet Rule Requiring Foreign Debtor to Have U.S. Assets to Be Eligible for Chapter 15 Relief" was published on June 10, 2026, in Lexis Practical Guidance. An article written by Daniel J. Merrett (Atlanta) and Nathaniel Parr (Atlanta) titled "Southern District of Texas Clarifies Post-Purdue Course for Consensual Third-Party Releases and Gatekeeping Provisions" was published on June 11, 2026, in Lexis Practical Guidance. An article written by Corinne Ball (New York) titled "LMEs, Sophisticated Investors and Equitable Mootness: The Fifth and Third Circuits Warn Against Testing the Limits of Chapter 11" was published in the June 2026 issue of the American Bankruptcy Institute Journal. Nicholas J. Morin (New York) was quoted in an article titled "Serta Ruling Offers Damages Road Map in Lender-on-Lender Disputes," published by Bloomberg Law on July 7, 2026. The article discussed U.S. Bankruptcy Judge Christopher Lopez's July 7, 2026, ruling that participating lenders in Serta Simmons Bedding's 2020 non-pro rata uptier exchange breached the credit agreement's ratable-sharing provision, and awarding excluded lenders more than $261 million in damages. The opinion resolves six years of litigation related to Serta's 2020 transaction, where it raised $200 million in new financing and exchanged $1.2 billion of term loans for $875 million in superpriority debt. Judge Lopez found that the debt-for-debt exchange constituted a "payment" under the credit agreement, requiring proportional sharing among lenders, and dismissed various defenses raised by the participating lenders. The case is Serta Simmons Bedding LLC v. AG Centre Street Partnership (In re Serta Simmons Bedding LLC), 2026 WL 1968535 (Bankr. S.D. Tex. Jul. 7, 2026). The New York Law Journal has recognized Andrew M. Butler (New York) as a 2026 "Rising Star" in Restructuring/Bankruptcy as part of the New York Legal Awards. The Rising Star category recognizes New York's most promising lawyers age 40 and under who have distinguished themselves through exceptional legal work, leadership, and contributions to the profession. Lawyer Spotlight: Daniel J. Merrett Dan Merrett, a partner in the Atlanta Office, has spent nearly 20 years representing all manner of stakeholders in complex corporate restructurings and chapter 11 reorganizations. His practice extends to related transactions and disputes involving acquisitions; divestitures; credit facilities; securities; environmental obligations; and vendor, employee, and governance matters. Dan has substantial experience managing mass tort liabilities, including the restructurings and related chapter 11 cases of affiliates of Georgia Pacific and Johnson & Johnson, implemented to resolve asbestos and talc liabilities. He also represents key parties in energy and infrastructure matters, including facility owners, EPC contractors, and joint-venture parties. Dan was a key player in the restructuring teams in the historic bankruptcies of the City of Detroit and Chrysler. His other significant representations in chapter 11 cases include AFA Foods, Alpha Natural Resources, Dana Corporation, M&G Chemicals, McDermott International, Monster/CareerBuilder, Transtar Industries, and Westinghouse. He is licensed in both the United States and England & Wales and recognized in restructuring by Chambers USA and Best Lawyers.
Energy politics prominent in big South Carolina Senate primary
Upstarts are seizing on artificial intelligence infrastructure and solar manufacturing to undercut their rivals in a crowded Republican contest.
Why US water systems are vulnerable to foreign cyberattacks
A cyberattack on water systems in a dozen states is exposing years of under-investment in critical infrastructure and how US adversaries can threaten services that everyday Americans take for granted, according to industry experts and current and former US officials.
Space Compute Is Moving From Science Fiction To Infrastructure
As satellites generate more data than Earth can efficiently process, space compute is emerging as a new infrastructure category for AI, storage and edge computing.
Exclusive: Mirendil inks $100M+ Google Cloud deal to scale self-improving AI
Mirendil has signed a $100 million-plus Google Cloud partnership to expand its compute infrastructure, powering research into self-improving AI systems designed to accelerate scientific discovery and AI development.
Viewpoint: Europe needs a new scientific contract
The White House's new science strategy should be required reading in the Berlaymont and every European capital.Not because Europe should copy it. Parts of it should concern Europeans deeply. But because it asks the question Europe has so far avoided while steadily losing ground in the global race for technological leadership.Europe already possesses many of the world's finest universities, scientists and research-intensive companies. It produces world-leading research in fields ranging from quantum technologies and biotechnology to climate science. Yet time and again Europe generates the scientific breakthroughs while others build the companies, industries and strategic advantages around them, particularly in digital technologies. Increasingly, we find ourselves regulating technologies whose underlying capabilities were developed elsewhere.This is not primarily a scientific failure. It is an institutional one.The settlement that shaped modern science policy emerged after the Second World War. In Science, the Endless Frontier, Vannevar Bush argued that governments should invest in fundamental research while protecting scientists from political direction. Public investment was justified precisely because no government, university or company could predict where the next transformative discovery would emerge.That scientific contract served liberal democracies extraordinarily well. It underpinned decades of advances in medicine, computing, energy and communications, but the world for which it was designed no longer exists.Artificial intelligence is transforming not only technology but the production of knowledge itself. Advanced chips, computing power, data and scientific instruments have become strategic assets. Scientific knowledge now diffuses globally almost instantly. Competitive advantage increasingly lies not in making discoveries first, but in possessing the infrastructure, capital, engineering capability and institutions required to translate those ideas into products, industries and strategic advantage.The old boundaries between science, industrial policy, national security and geopolitics have largely disappeared. Dual-use technologies now underpin both economic power and military deterrence.The US has recognised this shift. In July, the White House published Science: A New Golden Age, a comprehensive attempt to rethink the relationship between science and national power. The report builds on Bush's legacy, but departs from his framework in important ways. Science is no longer treated simply as the source of future discoveries. It is presented as the foundation of economic resilience, technological leadership and national security. AI, advanced infrastructure and the capacity to build become as important as discovery itself.Yet the report also reveals a striking paradox. The same administration calling for “a new golden age” of US science has simultaneously proposed deep cuts to the federal research enterprise while expanding political influence over the allocation of public research funding. Europe should therefore distinguish between the report's diagnosis and its prescription. The diagnosis, that science has become a strategic asset, is compelling. But the prescription is self-defeating. Long-term technological leadership depends on strong universities, academic freedom and the institutional autonomy that makes scientific discovery possible. This distinction matters. Bush's achievement was never simply to make science serve national strength. It was to establish a division of labour in which governments invested in research without attempting to direct discovery itself. Scientific breakthroughs emerge precisely because researchers retain the freedom to pursue questions whose value cannot yet be demonstrated and whose conclusions cannot be anticipated.Neither China, nor the USAs science becomes more strategically important, the temptation to politicise it inevitably grows. But scientific freedom is not an obstacle to technological leadership, it is an essential precondition.China represents the opposite model. For decades it has integrated science, manufacturing, infrastructure and industrial policy into a single national strategy. Its ability to mobilise resources around critical technologies is formidable. But it does so within an authoritarian system where scientific priorities are increasingly inseparable from political power.Europe should imitate neither model. It should learn from the strategic ambition of the US without importing its growing politicisation of science. And it should learn from China's capacity to build without adopting its concentration of power.Instead, Europe needs a scientific contract of its own. Bush's scientific contract protected the freedom to discover because the defining challenge of the 20th century was producing new knowledge. Europe's next scientific contract must preserve that freedom while ensuring that scientific discoveries can be converted into technological, industrial and strategic capability. Because in a transactional world, Europe's freedom to shape its own future depends on its capacity to build it.Related articlesThe US ‘golden age’ science strategy: what Europeans need to knowEuropean researchers sound the alarm that Trump rule changes will hit cooperationNIH turmoil risks reciprocal EU-US access to health research fundingThis does not mean subordinating free science to competitiveness or industrial policy. On the contrary. Scientific autonomy remains the first principle of Europe's next scientific contract. Governments should not direct scientific discovery. Their responsibility is to ensure that Europe's scientific, industrial, financial and regulatory institutions work together rather than in isolation.Meeting that responsibility requires far more than research funding. European researchers need access to world-class computing infrastructure, advanced laboratories, shared datasets and scientific facilities. Innovative companies need patient capital, testing environments and a genuine single market in which they can scale without facing 27 different regulatory regimes. Public procurement must evolve from purchasing existing technologies to creating markets for new ones. Regulators must become partners in experimentation rather than guardians of yesterday's rules.A connecting architectureEurope does not need to invent the Defense Advanced Research Projects Agency (Darpa) model from scratch. Britain's Aria, Germany's Sprind and Wellcome Leap already show that Europe can build institutions capable of taking high-risk, mission-oriented bets while preserving democratic accountability. The challenge now is not to create more isolated initiatives, but to connect them to Europe's broader scientific, industrial and financial system so that breakthrough discoveries can scale.Above all, Europe must stop treating research, innovation, industrial policy, finance and security as separate policy domains. The challenge is no longer to create excellent institutions in each of these fields, but to make them work as one European innovation system. Europe's strength will increasingly depend not on excellence within institutions, but on excellence across them.Europe's ambition should be neither to imitate the US nor to emulate China. It should demonstrate that scientific freedom, democratic legitimacy and technological capability are not competing objectives, but mutually reinforcing strengths. In an age of geopolitical rivalry, Europe's greatest advantage may ultimately be its ability to attract the world's best talent by combining scientific freedom, democratic openness and technological ambition.Bush's scientific contract helped define the 20th century because it protected the freedom to discover. Europe's challenge is not to abandon that achievement but to extend it. The defining task of Europe's next scientific contract is to preserve the freedom to discover while building Europe's capacity to translate scientific discovery into technological power.Kaare Nielsen is founder of Pomus, a Danish think tank on science and innovation.
Rooted: Ashok Krishnamurthy
The data science expert builds infrastructure and partnerships to turn complex data into real-world impact.
Chartbook 464 The"China squeeze" - the politics of development counterfactuals.
There are three types of China shock discourse. Each has a distinct temporal register. China shock 1.0 was a phrase coined by US academics in the 2010s to retrospectively summarize the impact on particular US labour markets, which they identified through painstaking empirical investigation. China shock 2.0 on everyone’s lips in Europe in the mid 2020s is an alarm raised by trans-Atlantic policy thinkers warning of a coming disaster which they project onto Europe’s ailing car industry. The third type of China shock discourse - commonly known as the “China squeeze” launched most recently by Indian economists Shoumitro Chatterjee and Arvind Subramanian in the pages of Foreign Affairs - mobilizes a different, more speculative temporal register: the counterfactual realm of alternate history. The China squeeze argument asks not what has happened, or what is going to happen, but what might have been. Specifically, what options for economic development might have been open to Global South economies like India or the economies of sub-Saharan Africa, had it not been for China’s spectacular industrialization since the late 1990s and the persistent competitiveness of China’s manufacture in low-skilled segments. Chatterjee and Subramanian’s argument is that whilst China has built a powerful position in electrical machinery and other high-skill manufacturing, which is now delivering China Shock 2.0, it also continues to run a trade surplus in low-skill, labour-intensive manufacturing. This surplus is large and has remained largely unchanged in fifteen years. Indeed, in the 2010s, in trade with low-income countries, China’s surplus rapidly increased. On their reading, this squeezes low-income producers in low-skill sectors in which they “should” be able to compete. Source: “China’s Mercantilist Squeeze on Developing Countries” Shoumitro Chatterjee and Arvind Subramanian. Peterson Institute for International Economics 26-7 May 2026 Chatterjee and Subramanian’s wording is telling: (emphasis mine) The canonical trajectory of economic development in the post-World War II period is for countries to transition from agriculture to manufacturing, first in low-skilled manufacturing and then later on to high-skill manufacturing (Herrendorf, Rogerson, and Valentinyi 2013). At the global level, this implies that high-income countries (HICs) that once specialized in low-skilled activities cede manufacturing export space to poorer countries that come along to occupy that space. In 1965, advanced economies accounted for about 60 percent of global value-added exports in four key low-skilled manufacturing sectors, i.e., apparel, leather, textiles, and footwear. Over time this share declined and began to be occupied first by the East Asian tigers and, beginning in the late 1990s, by China. Today China accounts for about 50 percent of the global market. The question is whether China, with its rising prosperity, is continuing to behave like its richer counterparts and ceding export space to poorer followers or to behave unlike them and continuing to occupy space. In terms of the conceptual maneuvers it performs, of the three China shock discourses, the “China squeeze” argument is by far the most ambitious. After all, it bases its critique of China on a counterfactual imagining of the world. Like any counterfactual argument, to construct this alternative reality it must rely on a heuristic model. To make their argument Chatterjee and Subramanian mobilize two key claims. The first reference point is the actual history of rich-country industrialization, what they refer to as the “canonical path”. The idea is that countries transition from agriculture to light industry and low-skilled manufacturing and from there up the value chain. To make this useful as a standard of comparison and a means to construct a normative standard, they adjust sectoral export shares for two factors: 1. the underlying level of economic development of the exporting country, as measured by national income and 2. the degree to which the sector in question is internationalized. The idea being that for a high income country to have a high export share in low-skill sectors is anomalous and even more so if that particular product is highly internationalized and thus suitable for being “conceded” to lower-income competitors. Where should this process end? Here Chatterjee and Subramanian introduce their second benchmark. Their normative idea of a global development path is one in which, in due course, low-skill manufacturing exports are distributed in proportion to a country’s share in the global labour force. They imagine, in other words, a world of proportional, polycentric global development without much national specialization in low-skill manufacturing. A useful benchmark is that, in labor-intensive manufacturing sectors, a country’s share of world exports should be broadly commensurate with its share of the world’s low-skilled labor endowment. … In the Heckscher-Ohlin model, this would be true if value added per worker and export propensities, i.e., fraction of output that is exported, are the same across countries. It is this pleasant liberal vista of orderly global development, progressing towards a general distribution of low-skilled manufacturing against which they judge reality and conclude that the low-income countries are suffering a “China squeeze”. China is not exiting low-skill sectors fast enough Allowing for its gdp level and the degree of globalization, China’s share of low-skill manufacturing exports is far higher than it “should” be. Relative to population, its low-skill share of exports is far too high. That in turn yields the conclusion that huge numbers of jobs - the authors suggest tens of millions - are being hoarded by China. For the four sectors captured in figure 4, this excess in value-added exports is $110 billion in 2022. For all low-skilled sectors overall captured in appendix figure D.1, excess value-added exports amount to $365 billion. The crowding out of LMIC exports by China is therefore substantial. Both these claims have in common that they are strong structuralisms. The first is that development paths ought to resemble each other. The second is that broadly speaking as far as low-skilled manufacturing is concerned, all countries are alike. If the world currently diverges from the distribution of trade implied by these assumptions, if China is not following the advanced economy path and has huge exports, this must be the result of “policy”, which the authors then put in question as illegitimate or unfair. Thus the naturalistic construction of a canonical path leading to a “level” distribution of low-skilled manufacturing reveals itself to be a polemical tool. From the point of view of China shock polemics, this discourse is no doubt welcome. But as an account of economic history, it must surely be regarded as nothing short of bamboozling. Development paths do not follow a regular, natural sequence. As David Fishman put it aptly, “development is not a queue”. They are always and everywhere, through and through political. Development is not so much a process, as a project. Each such project is more or less well adjusted to its context. As Gerschenkron taught uneven and combined development implies differentiation rather than simple imitation on a single parth. It may be true that Europe and the US exited relatively early from low-skill work. But clearly technology has changed. As C&S themselves point out, China no longer enjoys a low wage environment. Do they really believe that such huge differences can be accounted for either by industrial policy, which as they admit does not operate powerfully in low-skill sectors, or by exchange rate manipulation? What is overwhelmingly dominant in explaining the persistence of “low-skill” manufacturing in China are surely the network effects of complex supply chains. Indeed the label of “low-skill” may miss the point. The degree of globalization which Chatterjee and Subramanian decide to conjure away in their model of the development path - to allow for the fact that Europe and American textiles exporters did not enjoy just-in-time logistics in the 1950s - obscures the point that the networks through which Chinese factories supply the world are themselves key parts of the low-skill industrialization project. China isn’t knocking out 1970s style “cheap”. It has redefined the entire product cycle. C&S’s casual reference to “T-shirts” is telling. In today’s “fast fashion”, there is weight on both terms. Fashion and fast. China’s success in delivering on both at unprecedentedly high speed and at unprecedentedly low cost, isn’t a low-skill operation at all. If we see development trajectories not as the serial repetition of the same, but as distinctive, crafted projects that cumulate in complex agglomerations of skill, technology and labor, then this explains why the assumption that low-skilled manufacturing should follow the distribution of population flies in the face of all experience. As countless cases attest, low-wage, low-income developed economies are not by themselves the makings of a competitive production base. As Leon Liao puts it quite fairly: “International trade has never been allocated according to population. A country’s population gives it no natural claim to an equivalent share of global exports." And the remarkable fact is that Subramanian alone and with co-authors has long been making this point, not to pillory China, as is the case of the tendentious _Foreign Affair_s and Peterson pieces, but to highlight the great counterpart to China’s industrial success, namely India’s relative failure. The much-quoted Foreign Affairs piece showed low-skill export shares only for China, not for India. If you put both countries in the picture as Chaterjee and Subramanian have done on other occasions, the picture looks like this. China is far above the line, but India, almost as large in terms of population, is no less anomalous, just in the opposite direction. As far as global populations are concerned, and the imagining of tens of millions of “squeezed” jobs, it is this Sino-Indian pair that account for a huge share of the action. What this graph reveals is not China’s cheating, but India’s “greatest development failure”, at least this is the argument made Arvind Subramanian, this time in co-authorship with Devesh Kapur, in their major book, A Sixth of Humanity. Independent India’s Development Odyssey which appeared with Oxford University Press earlier this year. In this highly critical work on India’s development, China is repeatedly evoked, not to criticize but as a benchmark against which to illuminate what India’s political economy has not delivered i.e. large-scale formal employment for hundreds of millions of citizens. Kapur and Subramanian leave no doubt, if you want to understand why China, not India was the main driver of manufacturing globalization from the 1980s, don’t look to slots opening up in the division of labour thanks to the liberal mindedness of advanced economies, look to the contrasting political economy of the Maoist PRC and India’s post-independence political economy. As Kapur and Subramian note: The great divergence between China and India did not begin in 1978 with the Deng reforms—it was well underway by then. In one of the great ironies of modern history, the conditions created by Maoism turned out to be a great launching pad for industrial globalization. As the comparison of India and China in 1980 makes clear, to imagine manufacturing would be equally distributed when populations are so differently endowed in terms of educational and nutritional is fanciful. Here is the data from Kapur and Subramanian, data which I explored back at the very beginning of Chartbook. As Kapur and Subramanian insist, the striking fact is that even as India’s growth accelerated from the 1980s, structural change has not. Formal employment in India lags woefully behind. Why? As Kapur and Subramanian note, the path-dependent impact of India’s poor early start was devastating. The list of factors they mention is long and weighty: We argue for a new five-fold explanation applicable at different stages of Indian history: in the initial stages, the legacy of two key pre-1980s policies, the neglect of agriculture and the strangling of the domestic private sector, were critical. The failure of broad-based agricultural growth militated against rural industrialization, which would have been devoted to satisfying local needs that would have necessarily been labour intensive. Then, when the boom came after 1980, the thicket of regulation and broader labour protections that were legislated prematurely in a nascent democracy, underpinned by a deep ideological aversion to private capital in general and big capital specifically, became a barrier to attaining the size that would be necessary to compete globally. Similarly, the reforms after 1991, while wide-ranging, did not quite encompass non-tradeable inputs critical to manufacturing, namely, land, logistics infrastructure and power. A combination of low investment (logistics infrastructure), regulation (land) and the continued monopoly supply by state governments (power), combined with residual socialism, kept costs at 75–100 per cent above efficient supply. These factors were compounded on the supply side by the government, which dominated the formal labour market and established exorbitantly high wages at the lower end of the skill spectrum. This made their employment in the labour-intensive sector by the private sector less attractive. Finally, when the services sector and its exports boomed, wages soared even further via a Dutch Disease effect: one successful tradeable sector killed and cannibalized another less-skilled tradable sector, namely, manufacturing. Thus, scarcity-inducing policies of the planning era, precocious democracy and a Gandhian aversion to size; inefficient, monopolistic supply of critical non-tradable inputs; the behemoth of government; and super-successful skill-intensive services successively undermined India’s unskilled labour employment opportunities. The employment failure seems to have been over-determined. … Less quantifiable but no less important are some of the sociological factors that have undermined manufacturing and factory jobs. Take the impact of the success of the IT sector—located in urban areas with better working conditions, such as air-conditioned offices, good schools for children and attractive entertainment options. It became a more attractive place for engineering and management graduates to flock to. … Consider manufacturing and female employment. Indian society makes it difficult for women to work, reflected in India’s unusually low female labour force participation (elaborated in Chapter XIII). Indian society, in particular the routine harassment of women in public spaces, makes it even more difficult for them to travel long distances to take up work.37 Combined with onerous regulations on creating hostels and dormitories for women—which, in turn, prevents multiple shifts of operation—factories need to be located in areas with a large female labour pool. While firms can take apparel plants to female labour or bring them to the plants by building large-scale dormitories, this raises costs. If there was a case for subsidies to encourage labour-intensive manufacturing, housing subsidies to build dormitories for women workers would be a good place to start. All of this meant, that when opportunities did open up, in part thanks to adjustments in China, India was in no position to take advantage. Here is the account of the 2020s from Kapur and Subramanian. It stands in dizzying contrast to the one-sided, “China squeeze” argument delivered in the Peterson and Foreign Affairs pieces: In 2022, for example, India’s share of global exports in clothing (the canonical labour-intensive sector) was 3.1 per cent compared to 32 per cent for China. This is extremely disappointing because China started vacating export space in this sector after the Global Financial Crisis as its wages started rising; it then vacated further space in the aftermath of geopolitical developments that led investors to seek alternative investment locations. Between its peak and today, China lost about 7.5 percentage points of global export share (worth about $43 billion in 2022); over this period, India’s export share remained stagnant at 3 per cent, while that of Vietnam and Bangladesh rose by 3.5 to 4 percentage points. China’s loss did not translate into any gain for India in terms of low-skill exports and employment. Put differently, when the conditions for dynamism and prosperity were established after 1991, and even more tantalizingly when the global export opportunities opened up, it was as if India was a high-wage economy and only skilled labour could benefit from the dynamism. It had converted its physically abundant unskilled workforce into an economically expensive resource, penalizing its use. It is not my mission here to argue for or against Kapur and Subramanian’s interpretation of India’s development trajectory. The point in this context is simply that the “China squeeze” such as it is can only be understood, in relation to the heavy burden of domestic constraints that Kapur and Subramanian so unsparingly enumerate. I am concentrating here on India because it is the great counterpart to China and the unspoken reference point of the “China squeeze” discourse. But the point is more general. Can anyone with a straight face suggest that the main problems afflicting the development of South Africa or Nigeria, the great centers of mass underemployment in sub-saharan Africa, are cheap competition from China driven by Beijing’s industrial policy and an undervalued RMB? Likewise, is the main problem of the American working-class the threat of Chinese competition or the manifest crisis of social reproduction in the United States itself? The point here, as in the discourse around China shock 2.0 in Europe, is to insist that we should not normalize the world and pathologize China, without actually investigating what is going on in America’s industrial wastelands, the German car industry, or India’s lopsided labour market. One-sided pathologization should be understood for what it is, a polemical gesture. Concepts like China shock and China squeeze are, what Reinhart Koselleck, following Carl Schmitt, would have described as “asymmetrische Kampfbegriffe”, or “asymmetrical counter-concepts” or “asymmetrical combat concepts”. If the function of arguments like the “China squeeze” is to alert elites in the rest of the world of the need to rejuvenate and energize their development projects, so be it. But let us see the resulting discourses as the mobilizing interventions that they are. Interestingly, a significant slice of China’s public sphere - the so-called industrial party - have been obsessed for the last twenty years with precisely these questions of counterfactual economic history. Since the mid 2000s, a massive online discourse developed around an alternative history in which Chinese techno-patriots were asked to imagine how they would proceed if they had the possibility of traveling back in time to transport modern technology into the Ming dynasty (1368-1644) thus averting the “great divergence” of the 18th and 19th centuries. It is a fantasy of course, but also a goad. The point was not directed at Westerners. The alternate history is dramatically nationalist, but few n the West had even heard of it until recently. The adherents of the industrial party are not liberal moralists. They don’t project natural ladders of international development and ask why others don’t cede space. They take the Realpolitik of global economic development for granted. Their pointe was directed against fellow Chinese. The rallying cry of the alternative narrative was this: Now that we are beginning to gain steam and push forward on our national development path, now that we are breaking out of the inferior position assigned to us even in the early years following WTO accession, do not lose yourself in humanistic imaginings about better futures. In the spirit of Deng, they called on China to embrace the hard truth of development. Perhaps one might of the Industrial Party as a cultural trend born out of desire for symbolic revenge against those who had inflicted the century of humiliation. In terms of the various temporalities of the “China shock” - retrospective, prospective and counterfactual - one might think of the Industrial Policy discourse as truly speculative, conjuring up the China shock that never was. Or perhaps one might better think of it as imagining a world in which a powerful China was no shock at all, but simply a defining fact of modern history. I love putting out Chartbook. I am particularly pleased that it goes out for free to thousands of subscribers around the world. But, writing this newsletter takes a lot of work. If you are enjoying it and would like to support the project, sign up for one of the subscription options here. It is the equivalent of a fancy cup of coffee per month! Subscribe
New NSF State and Regional AI Infrastructure Hubs will power AI-enabled scientific research across the country
New initiative will accelerate AI-enabled scientific discovery by expanding access to compute for researchers, students and educators through regional partnerships among state and local governments…
NSF stands up 2 Materials Innovation Platforms with $50M investment
The U.S. National Science Foundation is investing $50 million in research infrastructure to enable the discovery and development of materials that can withstand extreme conditions, from lightweight…
Primaries test power of data center politics, solar spending
Candidates hope the outrage over artificial intelligence infrastructure will give them seats in Congress next year.
Virginia rises one place to No. 3 in CNBC list
Virginia rose to no. 3 in CNBC's top states for business, boosted by infrastructure ranking despite economic challenges and new data center tax concerns.
iPhone 18 Pro Models Could Be Up to $300 More Expensive, Says Analyst
This year's iPhone 18 Pro and iPhone 18 Pro Max could be $250-$300 more expensive than existing iPhone 17 Pro models due to higher silicon and memory costs, an analyst claimed today. According to an earnings note by Jeff Pu of GF Securities, higher 2nm silicon and DRAM/NAND costs could drive the price hikes, as Apple grapples with global component shortages owing to the AI infrastructure buildout. Currently, the iPhone 17 Pro and iPhone 17 Pro Max start at $1,099 and $1,199, respectively.
Trump admin tries to rebuild election security infrastructure it gutted as midterms near
After dismantling the federal system designed to protect US elections, the Trump administration now says it has a plan to rebuild it — less than 100 days before Election Day and just weeks before ballots begin going out In the mail.
Microsoft Adds $450 Billion In A Day, Beats Nvidia. What's Behind The Surge
Azure, Microsoft's cloud computing platform, reported stronger-than-expected growth as companies continued spending heavily on AI infrastructure.