TRUMP THREATENS UK TARIFFS OVER DIGITAL TAX
■ AI-SUMMARIZED FROM 1 SOURCE BELOW
President Trump has threatened to impose significant tariffs on the UK if it maintains its digital services tax, which he argues unfairly targets American tech companies including Apple, Google, and Meta.
■ MORE FROM THE BIG TECH DESK
Meta is laying off approximately 10 percent of its global workforce, affecting thousands of employees across the company. The decision comes as the social media giant works to reduce costs and streamline operations.
Instagram rolled out Instants, a standalone app for sharing disappearing photos, in Italy this week. The app follows a feature test within Instagram's main platform across select regions.
Intel delivered a strong earnings beat and raised its sales forecast, citing gains from the AI infrastructure buildout. The broader market declined as geopolitical tensions weighed on investor sentiment.
Blackstone President Jon Gray identified artificial-intelligence infrastructure build-out as the firm's single biggest growth driver, underscoring the investment sector's pivot toward AI-related assets.