Trade gap expands on import surge
The U.S. trade deficit widened in May, driven by record goods imports, the Commerce Department reported. The expansion comes despite Trump's promises of a foreign investment boom that has yet to fully materialize, raising questions about the administration's trade policies.
Amazon targets $25 billion bond sale
Amazon aims to raise approximately $25 billion from a bond sale, according to sources cited by Reuters. The massive capital raise comes as the tech giant continues to invest heavily in AI infrastructure, data centers, and logistics networks to maintain its competitive edge.
Big Tech energy demand hits factory towns
In a developing story, Reuters reports that Big Tech data centers are driving up power bills at America's Rust Belt factories. The energy-intensive nature of AI computing is creating competition for electricity between industrial manufacturers and tech companies, with local businesses bearing the cost of grid upgrades needed to support the data center boom.