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Corporate news, markets, and the economy

US Treasury to Pocket $10 Billion From TikTok Deal
Business

US Treasury to Pocket $10 Billion From TikTok Deal

The Trump administration will receive $10 billion from investors who acquired TikTok's US operations, according to reports. The $2.5 billion initial payment arrived in January, with more payments expected over time.

Meta Targets 20% Workforce Cut as AI Spending Spirals
Business

Meta Targets 20% Workforce Cut as AI Spending Spirals

Meta is reportedly considering layoffs affecting up to 20% of its workforce, potentially cutting 16,000 jobs. The move would offset the tech giant's aggressive spending on AI infrastructure as it competes in the race for artificial superintelligence.

From politics to Oscars: prediction markets make the mainstream leap
Business

From politics to Oscars: prediction markets make the mainstream leap

Prediction markets have exploded beyond elections and politics to dominate awards season, with Kalshi and Polymarket fielding more than $100 million in Oscar bets. But success masks deepening questions about gambling regulation and insider trading.

Why a Simple Side of Chips Now Costs $20
Business

Why a Simple Side of Chips Now Costs $20

Australia's cheap chips have disappeared. A $20 side order at an upmarket restaurant reveals deep cost pressures rippling through farming, labour, and energy.