Meteorologists say a super El Niño and a subtropical jet stream are to blame for the heavier rain, more torrential storms and bigger floods. Akiko Fujita is in Huntington Beach, California, with more details, and Andrew Kozak is in the studio with the forecast.
A private jet flying from Texas to the Bahamas crashed at high speed in Palm Beach, Florida, on Sunday, killing all nine people on board. Cristian Benavides spoke with witnesses.
A private jet crashed into a South Florida neighborhood killing all nine people on board according to transportation secretary Sean Duffy. The plane was flying from Austin, Texas to the Bahamas when it crashed. NBC News’ Jesse Kirsch has the latest.
Details about what may have caused the crash had not yet been shared.
A Learjet 60 jet heading for the Bahamas crashed in Florida Sunday afternoon with nine people on board, the Federal Aviation Administration said.
A small plane carrying nine people crashed and exploded in Palm Beach County, Florida, just miles from Mar-a-Lago.
NPR's Scott Simon talks to Briana Meckley, owner of Meckley Brooms in Lopez, Pennsylvania, about her business' surge in broom orders for Halloween.
The latest wave of hyperscaler earnings is spooking Wall Street. Bulls and bears alike have evidence to validate their wildest dreams — or their worst nightmares. Why it matters : The market's AI obsession has entered its Jekyll and Hyde era, with the latest earnings from tech giants offering contrary signals about the AI boom. Driving the news : The tech-heavy Nasdaq briefly sank into correction territory, falling 10% from its prior peak, losing $1.2 trillion in value for the month of October, after a slew of earnings reports pointed to AI's big risks. But it wasn't all horror: within the earnings statements, some investors found proof that the AI bet is going exactly as it should. Here are three examples of the AI trade's deepest contradictions — the good and the scary — from the earnings releases and calls of the Big Tech hyperscalers. Google: The scary: AI overviews are cannibalizing Google's core business: ad revenue from search. Yes, search queries are up, but results in AI mode have lower margins. The company has lost more than $500 billion in market value post-earnings, bringing the broader tech sector along with it. The good: Google Cloud is closing in on Microsoft's Azure cloud revenue, a stunning development given that Google was an also-ran in the cloud game only a few years ago. Much of Google's success is tied to demand for its TPU chips, which analysts expect to see massive growth in coming quarters. The takeaway: Google's predicament mirrors the problems of many tech giants, where AI represents a true threat to the golden goose but presents new opportunities if they can move fast enough. Microsoft and Amazon: The good: Both companies had explosive cloud growth, though the market was disappointed Amazon's wasn't higher. Microsoft touted its OpenAI investment and Amazon its Anthropic holdings. The iffy: Those private AI investments can help or hurt: Amazon's net income fell despite soaring operating profits, as it didn't repeat the pretax gain from its
Alleged self-dealing by the president and his allies doesn’t look so good as corruption emerges as a key issue for midterm voters Government corruption a top issue for US midterm voters, exclusive poll finds Voters under 50 probably won’t remember the “ welfare queen ”. But she once embodied Republicans’ claim of the underlying reason for US societal decay: the poor are a bunch of fraudsters. Ronald Reagan introduced Linda Taylor to US voters at a rally during the Republican presidential primary season in 1976. A resident of Chicago’s South Side, Taylor had been arrested for welfare fraud. “She used 80 names, 30 addresses, five phone numbers to collect food stamps, social security, veteran’s benefits for four non-existing deceased veteran husbands,” Reagan said. “Her tax-free cash income alone has been running $150,000 a year.” The Qatari government gifted him a luxury jet , potentially violating the emoluments clause of the constitution. The UAE gained access to some tightly guarded, high-end American AI chips soon after an investment firm linked to its ruling family secretly bought a $500m stake in World Liberty Financial, the crypto company funded by the families of Trump and his chum Steve Witkoff. Rich people facing criminal charges have taken to donating to Trump’s political operations and then seeking pardons or clemency. Most recently, Wanda Vázquez Garced , the former governor of Puerto Rico, and the banker who paid her bribes, Julio Herrera Velutini, were pardoned after Velutini’s family gave a $50m deal to Alina Habba, Trump’s former personal lawyer, and donated $3.5m to Trump’s Maga Inc Super Pac. The first family is also making a killing from the government. The Pentagon lent more than $600m to Vulcan Elements, a rare earths startup, just three months after Donald Jr’s venture capital firm 1789 Capital bought a stake in the outfit. Powerus, a drone maker backed by Eric and Donald Jr is selling drone interceptors to Persian Gulf allies of the US that are
A federal judge said Friday she plans to appoint a special master to investigate whether Justice and Interior Department officials misled the court about the Trump administration's plans to renovate a D.C. golf course, according to news reports . Why it matters: The investigation could lead to professional sanctions, contempt proceedings or criminal referrals against administration officials over allegations government lawyers misled the judge. Driving the news: U.S. District Judge Ana Reyes opened a hearing Friday by reading ethics rules requiring attorneys to be truthful with courts, then questioned Associate Attorney General Stanley Woodward Jr. about the administration's conflicting accounts, according to news reports. Trump announced Oct. 18 the golf course would close Nov. 15 for roughly 15 months of renovations. Woodward told the court the next day there was "no plan to close the course." On Oct. 28, the Justice Department acknowledged Trump had directed the closure. Catch up quick: A preservation group and two golfers are suing the administration over what they say is President Trump's illegal plan to convert the historic, public East Potomac Golf Links into a championship-level golf course. After government crews cut down more than 400 trees, Reyes barred further tree removal without court approval and required 10 business days' notice before closing the park or making irreversible changes. The administration has appealed. What they're saying: "The Department of Justice will not be deterred from executing on the President's agenda," a spokesperson said in an emailed statement. The White House and DOI didn't immediately respond to Axios' request for comment. What's next: Reyes said she intends to appoint a special master who could review documents, question witnesses under oath and hold hearings. The government would have five business days to object after a special master is selected, the Washington Post reported . This is a breaking news story and will be
Anthropic, the creator of Claude, filed to go public on the US stock market on 26 October. The company's filing statement contains a 92-page risk factor document in which it acknowledges the dangers that AI poses to society and human beings, and factors that could negatively affect Anthropic's business. Johana Bhuiyan, senior tech reporter for the Guardian, breaks down the document and explains why Anthropic's IPO could be a real test to the AI boom Anthropic files for potentially record-breaking stock market valuation in key test for AI industry Continue reading...
Binance exchange says it will cover customer losses as it scrambles to freeze affected assets, with about $3bn located so far Q&A: How big a deal is the $6.3bn crypto heist? Tell us: have you been affected by the Binance hack? Business live – latest updates The world’s largest cryptocurrency exchange has been hit by a record $6.3bn (£4.7bn) hack described as the biggest heist in history, with experts identifying North Korea as the likely culprit. Binance said it would cover all customer losses as it froze $3bn of the affected assets. Continue reading...
Business is booming for two biggest US oil companies, with both benefiting from higher prices and record production ExxonMobil and Chevron both reported better than expected quarterly results on Friday as the oil majors benefited from higher prices and record production. The boon for oil companies has simultaneously been a major pain point for consumers, who say the higher cost of living, especially gas prices, will affect how they vote in the upcoming midterm elections that will determine control of Congress. Continue reading...
America's corporate titans greeted President Trump's 2024 victory with open checkbooks , 12-figure investment pledges and fawning tributes to his coming "Golden Age." Two years later, on the eve of a potential blue wave, Democrats are preparing to greet those same executives with a stack of subpoenas . Why it matters: The CEOs who staked their reputations and fortunes on MAGA's staying power could spend the final two years of Trump's presidency defending their dealings under oath. The big picture: A Democratic House would carry its campaign against billionaire power and corruption deep into corporate America, scrutinizing the relationships between Trump's White House and the executives who courted him . Corporate leaders now face a delicate balancing act: rebuilding ties with Democrats while avoiding retaliation from a president who still controls federal contracts, tariffs and regulators. Already, companies that scrambled to dismantle DEI programs or fund Trump's ballroom are hiring Democratic lobbyists , pushing back against the administration and rediscovering the virtues of bipartisanship. Zoom in: Elon Musk is taking a more confrontational approach. The billionaire, who has poured $445 million into Republican super PACs this election cycle alone, has threatened retaliation against Democrats preparing to investigate his sprawling business empire and tenure in the White House. DOGE: As head of Trump's short-lived cost-cutting initiative, Musk gutted USAID, drove mass federal layoffs and gave his team access to sensitive government systems. Investigators want to know whether his companies benefited from contracts or regulatory decisions while he wielded power inside the White House. Ukraine: A fierce critic of President Volodymyr Zelensky, Musk ordered Starlink restrictions that disrupted Ukraine's military satellite communications. Democrats are now demanding records of his communications with Trump and Vladimir Putin . Musk responds to reports that Democrats pla
Reddit on Thursday said it's moving to become a primarily logged-in experience, marking one of the most significant shifts in its 21-year history. Why it matters: Reddit has long championed the open web. Now, it's pushing to build a more direct relationship with users while also protecting its data from increased scraping in the AI era. Driving the news: In an interview Thursday, Reddit co-founder and CEO Steve Huffman said the company is making the change to improve its user experience, bolster its ads business and prevent bots from scraping its proprietary data. Chief operating officer Jen Wong told Axios the move doesn't represent a change in strategy as the company has always focused on building a direct destination. "It's just that in the last 10 years, because our [data] corpus was open, we got a lot of search traffic, so that became part of the equation" but didn't change the company's mission. Zoom in: Huffman expressed confidence that the change would ultimately improve engagement and monetization, even as changes to traditional search continue to impact user growth in the U.S. "When users log in, they spend more time on Reddit, and we can we better know their interests, so we can target ads better," he said. He also noted that the short-term risk is limited because "the vast majority of engagement and over 80% of our monetization comes from our app and logged-in users." In a shareholder letter, Reddit acknowledged that search referral traffic was "down meaningfully in Q3" and said daily users could decline by a "low-double-digit percentage" in Q4 if search referral trends persist. How it works: Reddit will begin testing the fully logged-in experience this quarter outside the U.S. and collect data on the best approach before it rolls out broader changes gradually. Logged-in users can get tailored content, feeds and recommended communities based on their activity and interests, although they can opt out of personalization. The company is still working throug
Acquisition will supercharge DoorDash’s grocery delivery, ‘one of the hardest things to get right online’, CEO says DoorDash is gobbling up Instacart in a $17bn acquisition that will supercharge its grocery delivery business. DoorDash said the Instacart brand name and app will remain, and Instacart shoppers can continue fulfilling orders for Instacart. Grocers can also choose to work with Instacart or DoorDash. Instacart customers will now have access to 50,000 additional stores covered by DoorDash, the company said. Continue reading...
There has never been a company like Anthropic . It owes almost $650 billion for computing, generates eye-popping revenue per employee and wants every investor to know that its product poses existential risks to humanity. Why it matters: The future of the AI race, the market and the global economy rests within Anthropic's IPO prospectus, where some of Silicon Valley's most seasoned investors found new reasons to be bullish. They also found warning signs. A wager on Anthropic is a bet not just that AI will deliver on its enormous promise, but that customers will keep spending at a rate that keeps pace with massive computing costs. It's also a bet that Anthropic can continue to deliver models good enough to justify premium prices, even as competition intensifies and cheaper alternatives improve. What they're saying: Reaching a valuation of $2 trillion would require 50% growth, according to Theory Ventures. "What is Anthropic worth?" Theory's Tomasz Tunguz asked rhetorically. "The case for a very large number is simple," he said, noting that the company grew quickly on a high margin and generated an operating profit. "The case against is equally simple," he added, noting its $637 billion of computing commitments, non-cancellable contracts and no guarantee of customer loyalty. Catch up quick: Monday's filing offered the most detailed public look yet at Anthropic's business , finances and risks as it prepares for a potentially record-setting IPO. (See what Claude and OpenAI's ChatGPT say about whether they'd invest). As Tunguz noted, the filing had fodder for a variety of perspectives. The good: Anthropic has nearly 2,000 customers paying it $1 million or more per year, and 250 paying $10 million or more. Half the Fortune 500 pays the company $100,000 a year, and those customers spent less than 0.1% of their total expenses in the third quarter on Anthropic. "We are so early," Ben Bajarin, a longtime tech analyst, said on X. He pointed out that there are 300 million global
TEL AVIV, Israel — Gadi Eisenkot is as low-key as Benjamin Netanyahu is bombastic. He's a political novice up against the longest-serving, most politically savvy prime minister in Israel's history. And yet, on the eve of Tuesday's elections , Eisenkot poses the most serious threat to Netanyahu's hold on power in years. Why it matters: A victory by the Yashar party leader would upend Israeli politics and could reset the country's strained relationships abroad. The intrigue: The contrast between the two top contenders could hardly be sharper. Their roots: Eisenkot, the son of Moroccan Jewish immigrants, grew up in Eilat, Israel's southernmost city. If he wins, Eisenkot will be the first prime minister of Moroccan descent in Israel's history. Their military backgrounds: Netanyahu served in the Israel Defense Forces' elite special forces unit "Sayeret Matkal" and later went into business and politics. Eisenkot joined the IDF Golani infantry brigade and rose through its ranks as a combat commander until becoming IDF chief of staff. He arrived at his rally on Sunday to the tune of the Golani brigade song from 1974. Their ties to America: Netanyahu is better versed in American politics — and more articulate in English — than many American politicians. Eisenkot is not an "American" politician at all, let alone a professional one. He speaks English with a heavy Israeli accent and doesn't deliver catchy soundbites. He does not enjoy being on TV. At his final campaign rally Sunday before about 1,000 supporters, Eisenkot was visibly uncomfortable being in the spotlight, even when the crowd cheered him on. Their trustworthiness: Netanyahu's credibility with the Israeli public has been battered by his long-running corruption trial, his political tactics, his refusal to take responsibility for the failures that led to October 7 and accusations of duplicity in his handling of the Iran war. Eisenkot is seen as a straight shooter, even among many of his opponents. Zoom in: The failur
U.S. intelligence finds Iran has "substantially increased" its efforts to target American diplomats and officials in the Middle East and beyond, with lethal plots reaching "advanced stages," according to an Oct. 23 memo to Secretary of State Marco Rubio obtained by Axios. Why it matters: U.S. officials say the intelligence is one reason the State Department is drawing down personnel at several American embassies across the Middle East, amid mounting fears of a broader regional conflict. U.S. officials also fear that Iran-backed Houthi rebels in Yemen could expand their attacks beyond Saudi Arabia to other countries in the region. Adding to the volatile security environment is the prospect of renewed U.S. and Israeli military operations against Iran, potentially after the midterm elections. News of the memo exploded across the internet after Axios posted it last night, with media coverage worldwide . What they're saying: "We may do another little Operation Epic Fury, or [the Iranians] will agree [to a deal]," President Trump said at a rally in Florida on Friday. "If they're smart, they will just say, 'Let's get down to business,' but I doubt they will do that because perhaps they're not smart." Driving the news: In the one-page, unclassified memo obtained by Axios, Director of National Intelligence Jay Clayton warned Rubio that intelligence about Iranian assassination plots needs to reach more U.S. personnel than are currently authorized to receive it. The memo does not identify specific targets, countries outside the Middle East or the nature of the plots, but says the underlying intelligence has already been shared with senior State Department officials. Clayton offered to downgrade as much of the sensitive intelligence as possible so Rubio could share it more widely with personnel potentially at risk. State of play: Earlier this week, the State Department ordered family members and nonessential personnel to leave the U.S. Embassy in Riyadh and consulates in Jeddah
On a recent evening near a secure U.S. facility, three federal agents saw a flying object they couldn't identify: a large "matte black triangle" that moved as fast as a fighter jet, made no sound and then disappeared, according to FBI and Defense Department reports. Why it matters: The 15-foot flying triangle is classified as a UFO-like "Unidentified Anomalous Phenomena" because the U.S. doesn't have the technology to make such a craft — and neither do its adversaries. The reports of the drone-like aircraft is of growing interest and concern to intelligence and military officials. Driving the news: The two reports about the mysterious triangle were included in a batch of 10 documents released Friday by U.S. officials under President Trump's order this year to disclose UAP records from all government sources as soon as possible. Friday's disclosure marks the seventh release of a tranche of documents under the order. Some of the documents found in the National Archives are from the 1940s. Zoom in: The flying triangle reports are the most intriguing because the incident — from this year — is so recent. The month and day are redacted. The FBI document is labeled an "Unidentified Aerial Object Observation Report" and the Defense Department 's report on it is classified as a "Unidentified Anomalous Phenomena" report. The observers were federal agents, including two with "extensive operational experience" and familiarity with drones. One had a "thermal monocular" for infrared tracking and yet couldn't detect "discrete heat sources associated with propulsion" from an engine on the mysterious craft. The agents reported seeing the drone-like triangle, with a wingspan of about 15 feet, rise vertically for as many as 300 feet above a mountain ridgeline without tilting or swaying. It stopped, hovered for about 20 seconds, and then flew horizontally as fast as a fighter jet for about 1.5 miles in three seconds without making a sound before it vanished. The intrigue: One of the do
That wince you just made while researching travel options? Get used to it. Why it matters: Soaring jet fuel prices are accelerating changes across the airline industry, seen in higher fares, premium-heavy cabins and fewer flight options for travelers. Airfares rose 22% year over year in September, marking a 10th straight monthly increase in the government's airfare price index , which hit an all-time high. State of play: All the major airlines are feeling the pain: American Airlines reported Thursday that its fuel bill jumped nearly 70% in the third quarter from a year ago, adding $1.9 billion in costs and undercutting its revenue growth. Southwest and United Airlines both slashed their profit forecasts this week on higher fuel costs. And Delta Air Lines expects its fuel bill this year to come in $6 billion above last year's. The impact: To protect their bottom lines, airlines are raising fares and turning to more premium seats to squeeze more revenue out of their flights. At Southwest, the average passenger fare rose 26.9% to $231.69 in the third quarter, compared with a year earlier — and that doesn't include fees. Delta's premium seating revenue jumped 18% in the third quarter, even though the number of premium seats rose only 6%. What they're saying: The airlines have few options to make up for extra fuel costs other than fare increases, said Scott Keyes, founder of flight-deal service Going.com. "None of them are hedging fuel the way they used to, in large part because they had a pretty terrible experience with it," Keyes said in an interview. The big picture: Airline executives, however, see these changes — many of which were already underway — as a necessary new normal. This year's fuel spike has only "accelerated" change, Delta CEO Ed Bastian said on the company's earnings call on Oct. 9. "Regardless of the next move in fuel prices, the forces reshaping the U.S. airline industry will continue with many carriers struggling to earn their cost of capital well b
