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[ad_1] CNN  —  Behind the monumental court ruling that blocked most of US President Donald Trump’s tariffs is a small wine company run by a father-and-daughter duo. VOS Selections – a small, New York-based wine company – was the lead plaintiff in the lawsuit which prompted a three-judge panel at the US Court of International Trade to strike down Trump’s sweeping global tariffs on Wednesday. The decision found Trump overstepped his authority by invoking emergency economic powers to impose sweeping tariffs on China, Canada, Mexico and other US trading partners. VOS founder Victor Schwartz never intended to be at the…

[ad_1] Shanghai Reuters  —  Chinese artificial intelligence startup DeepSeek released an update to its R1 reasoning model in the early hours of Thursday, stepping up competition with US rivals such as OpenAI. DeepSeek launched R1-0528 on developer platform Hugging Face, but has yet to make an official public announcement. It did not publish a description of the model or comparisons. But the LiveCodeBench leaderboard, a benchmark developed by researchers from UC Berkeley, MIT, and Cornell, ranked DeepSeek’s updated R1 reasoning model just slightly behind OpenAI’s o4 mini and o3 reasoning models on code generation and ahead of xAI’s Grok 3…

[ad_1] 2025-05-28T23:29:04Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. A federal court has blocked President Donald Trump’s sweeping tariff strategy. In a unanimous three-judge ruling, the court found that Trump lacks the authority to impose tariffs. The tariffs imposed by the Trump administration have been vacated. A federal court on Wednesday found President Donald Trump does not have the authority…

[ad_1] CNN  —  A US federal court’s ruling Wednesday against President Donald Trump’s authority to levy some of his most sweeping tariffs may have also dealt a serious blow to the president’s entire economic agenda. Trump’s core economic policy has been his historic tariffs, but the administration has described its aggressive trade actions as just one leg of a three-legged stool. Built on tariffs, spending cuts and tax cuts, Trump’s economic agenda relies on all three components to stand strong. But a three-judge panel at the US Court of International Trade blocked Trump’s global tariffs, which he imposed citing emergency…

[ad_1] CNN  —  Hollywood studios and streamers aren’t exactly craving politically provocative shows and movies right now. Producers are thinking twice about liberal-sounding storylines. Media companies are downplaying diversity initiatives. And “The Apprentice,” a biopic about President Trump that contained some critical scenes, struggled to gain US distribution last year. That’s what makes the timing of “The Handmaid’s Tale” finale all the more remarkable. The acclaimed Hulu drama, which streamed its final episode earlier this week, was unavoidably and unapologetically political. In the series, based on the 1985 novel by Margaret Atwood, America has been transformed into Gilead, a totalitarian…

[ad_1] Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Argentina has raised $1bn from international investors in a vote of economic confidence for libertarian president Javier Milei seven years after the country last tapped global capital markets.The peso-denominated sovereign bond, issued under Argentine law and targeted solely at foreign investors, was offered in dollars — a move that will boost the country’s foreign currency reserves — but pays out in pesos. It was issued at a coupon of 29.5 per cent and matures in 2030. “Excellent news,” Milei’s economy minister…

[ad_1] As Nvidia reports earnings for the first quarter of its fiscal year 2026, which closed on April 28, the company has released numbers on how the Trump administration’s recent chip-export restrictions are affecting business. Nvidia reported that it incurred a $4.5 billion charge in Q1 due to licensing requirements impacting its ability to sell its H20 AI chip to companies in China. The chipmaker also reported that it was unable to ship an additional $2.5 billion of H20 revenue in the quarter due to the restrictions. When the U.S. licensing requirement was originally announced in April, the company said…

[ad_1] Palantir and Constellation Energy are buys that will benefit from the rise in artificial intelligence, while Salesforce faces rising competition in workflow software, according to David Kudla, founder and CEO at Mainstay Capital Management. Kudla joined CNBC’s “Power Lunch” to discuss his views on the three stocks. Palantir Palantir , which has outperformed its peers after surging 64% in 2025, is still a buying opportunity for investors looking to tap into government demand for the company’s AI-enabled tools. “We still think Palantir is a buy. Probably a buy on the dips,” said Kudla, who added that he bought the…

[ad_1] Updated 2025-05-28T20:35:11Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. A Fifth Avenue mansion built during the Gilded Age just sold for $46 million. The 11-bedroom, 10-bathroom home features ornate details and original features. The mansion was designed by architect Stanford White and spans over 16,000 square feet. One of the last remaining Gilded Age mansions in New York City was…

[ad_1] New York CNN  —  Nvidia missed out on $2.5 billion in additional revenue during the first quarter of this year because it had to stop shipping its H20 artificial intelligence chips to China after the Trump administration instituted fresh export restrictions last month. Despite those unearned sales — revealed in the company’s earnings report Wednesday — Nvidia took a smaller blow from the new H20 restrictions during the quarter than expected. It took a $4.5 billion charge in the quarter associated with excess H20 inventory and purchase obligations it couldn’t fill because of the export controls, although it had…