OpenAI’s lead under pressure as rivals start to close the gap

Swiss voters have decisively rejected a proposed 50% inheritance tax aimed at the super-rich, with estimates indicating that 79% voted against the measure in a recent referendum. This outcome reflects a strong opposition to wealth redistribution policies among the electorate.

The Financial Times explores the evolution of clocks from mere tools for measuring time to instruments that dictate the pace of modern life, particularly within capitalist societies. This transformation highlights how the measurement of time has become intertwined with economic productivity and personal wealth.

China's services activity has reached a three-year low, with data from the national statistics agency indicating a persistent decline in demand across the economy. Concurrently, factory activity continues to contract, reflecting ongoing challenges in both sectors.

President Donald Trump announced the closure of Venezuelan airspace, coinciding with a significant increase in U.S. military presence near the country. This decision is part of a broader strategy aimed at combating drug cartels and supporting efforts to remove President Nicolás Maduro from power.

AI startups, including OpenAI and Anthropic, are experiencing rapid valuation increases, with some companies seeing their worth double or triple within months due to successive funding rounds. This trend highlights a significant growth spurt in the AI sector, driven by investor enthusiasm and substantial financial backing.

Airbus has announced that approximately 6,000 A320 jets require a software update to address potential vulnerabilities caused by solar radiation, which could affect critical flight control data. This update is expected to cause significant disruptions for airline travelers as it coincides with peak travel times.

CME has resumed trading after a significant outage that halted futures trading in equities, bonds, and commodities for over 10 hours, causing disruptions across global markets. The fault originated from a data center issue, which raised immediate concerns among traders and investors alike.

Ukraine faces a critical juncture as Kyiv grapples with choices that present immediate challenges and potential long-term consequences, reflecting a Catch-22 situation where decisions made now could lead to worse outcomes later. The ongoing conflict with Russia exacerbates these dilemmas, particularly in the context of financial stability and international support.