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Colorado’s tech community is pushing back against state regulations, especially a landmark AI bill that critics say could raise compliance costs and slow innovation. Business leaders argue the state’s climate is beginning to resemble California’s, while Gov. Jared Polis said “far more” firms are moving to Colorado than leaving. The dispute has intensified as xAI sues over the law and lawmakers consider a slimmer version. Supporters say regulation can protect consumers and build confidence in AI tools. Broader complaints about labor, environmental, and tax policies have added pressure, as some executives warn Colorado risks losing momentum, jobs, and startup investment to competing states.

 

Wall Street Journal

U.S. public debt has exceeded the size of the economy, reaching $31.27tn or 100.2% of GDP as of March 31st, a symbolic milestone reflecting decades of rising deficits and fiscal pressure. The ratio is expected to keep climbing, driven by annual deficits near 6% of GDP and government spending that currently amounts to $1.33 for every $1 in revenue, with this year’s deficit projected at $1.9tn. While there is no specific threshold at which debt becomes unmanageable, economists warn that higher debt levels increase the government’s vulnerability to interest rate changes and divert resources from productive investment. Interest payments already account for roughly one in seven federal dollars spent, and even small rate increases could add hundreds of billions in costs over time. The U.S. has not sustained debt above 100% of GDP since 1946, and projections suggest the ratio could exceed that postwar peak by 2030 and reach as high as 120% by 2036 if current policies persist.  

 

Wall Street Journal

The Conference Board’s Leading Economic Index (LEI) declined by 0.6% in March to 97.3, reversing February’s 0.3% gain and pointing to a likely slowdown in U.S. economic activity. The drop was driven by weaker building permits, declining consumer expectations, and softer stock prices, key components used to anticipate shifts in the business cycle. Over the six months to March 2026, the LEI fell 1%, indicating continued but moderating deterioration compared with the prior six-month period. The data suggests that rising oil prices and ongoing supply-chain pressures are likely to weigh on growth, while also contributing to inflation and reducing consumer purchasing power in the months ahead.

 

RTT News

Wall Street Journal

U.S. manufacturing activity held steady in April, with the ISM's PMI unchanged at 52.7, marking a fourth consecutive month of expansion and reflecting resilient demand supported by a rise in new orders to 54.1 as businesses rushed to secure inputs ahead of potential shortages. However, the sector faced mounting cost pressures as the Middle East conflict disrupted shipping routes through the Strait of Hormuz, slowing supplier deliveries and pushing the prices-paid index sharply higher to 84.6, its highest level since April 2022, signalling intensifying inflation risks across the supply chain. Despite stable headline activity, underlying indicators pointed to strain, with export demand continuing to decline, backlogs of orders easing, and manufacturing employment falling for a 15th straight month, highlighting ongoing structural weakness even as firms contend with rising input costs and geopolitical uncertainty.

 

Bloomberg

Market Watch

Reuters

A federal court decision has opened the door for tens of millions of U.S. taxpayers to potentially reclaim penalties, interest payments and other charges imposed during the Covid-19 pandemic, after ruling that many IRS filing deadlines were effectively suspended. The judgment found that a 2019 law granting automatic deadline extensions for disaster victims, combined with the nationwide emergency declared in January 2020, meant that tax deadlines should have been paused until July 10th 2023. This contradicts the IRS’s earlier interpretation, under which deadlines remained in force, leading to widespread penalties for late filings and payments. The scope of the issue is significant, affecting individuals, small businesses and large corporations alike, with more than 28m penalties issued in fiscal 2022 alone, totalling over $12bn. Some companies, including large corporates, have already begun pursuing claims based on the ruling. The IRS’s national taxpayer advocate has urged taxpayers to review their eligibility and submit claims, typically via Form 843, before the key deadline of July 10th 2026, which reflects the standard three-year window for refund claims.

 

Wall Street Journal

The U.S. Senate unanimously has approved a ban on incumbent senators, staff, and other officials from participating in prediction markets, a form of gambling on real-world events. This initiative, led by Republican Senator Bernie Moreno of Ohio, aims to prevent lawmakers from engaging in speculative activities while receiving taxpayer-funded salaries. The decision follows ongoing debates about a broader ban on lawmakers' stock trades, which some view as insider trading.

 

U.S. News

Labor prosecutors in Brazil have filed lawsuits against ​five firms, including grain trader Cargill and meatpacker JBS, over labor abuses in ‌their supply chains. JBS is being requested to pay ​around 119m reais ($23.78m) in ​damages in a case where workers in Para state were found in “slavery-like” conditions in ​the company’s supply chain. Cargill is ​being sued for 109m reais for “grave ‌violations ⁠of human rights” in its soy supply chain in Rondonia state.

 

Reuters

U.S. District Judge Gregory Williams has said battery maker Duracell must face a lawsuit accusing it of stealing trade ​secrets related to German chemical company BASF's new tab lithium-ion battery ‌technology. Williams rejected Berkshire Hathaway-owned Duracell's bid to throw out the 2025 lawsuit related to BASF's effort to manufacture lower-cost ​materials for high-powered batteries.

 

U.S. News

California added 28,700 payroll jobs in March, reducing its unemployment rate to 5.3%, despite significant layoffs in the tech sector. The growth was primarily driven by nearly 28,000 new positions in health services and private education, as reported by the state's Employment Development Department. While California's job market shows resilience, it still lags behind the national unemployment rate of 4.3%. The state has seen major tech firms, including Meta and Oracle, announce layoffs, but Bernick noted that these layoffs represent only a small fraction of California's economy. Despite a decline in total civilian employment, the state's economy is bolstered by investments in AI and growth in the defense sector.

 

Los Angeles Times

Fourteen employees of the Federal Emergency Management Agency (FEMA) who signed a public letter criticizing the nation's disaster preparedness have been reinstated after eight months on paid leave. The reinstatement follows a shift in leadership under Homeland Security Secretary Markwayne Mullin, who has reversed previous policies that hindered FEMA's operations. The agency is now focusing on stabilizing its workforce and preparing for upcoming events, including the 2026 Atlantic hurricane season.

 

U.S. News

GameStop chief executive Ryan Cohen has launched an unsolicited $56bn bid to acquire eBay, proposing a $125-per-share offer representing a roughly 20% premium to its recent closing price. Cohen revealed GameStop has amassed a near 5% stake in eBay and secured up to $20bn in debt financing from TD Bank, with plans to fund the remainder through cash, stock, and potentially external investors. He argued that combining the two companies could create a stronger rival to Amazon, leveraging synergies in collectibles and integrating physical retail with online operations. However, analysts have expressed scepticism over both the strategic rationale and GameStop’s ability to finance such a large deal, given its smaller size. Cohen signalled he is prepared to take the bid directly to shareholders if eBay's board resists, escalating the prospect of a takeover battle.

 

Bloomberg

The Wall Street Journal

BBC News

Anthropic is nearing a joint venture with Blackstone, Goldman Sachs, Hellman & Friedman, General Atlantic, and other Wall Street firms to sell AI tools to private-equity-backed companies. Anthropic, Blackstone, and Hellman & Friedman are each expected to invest about $300m, while Goldman Sachs is set to contribute around $150m, with total commitments near $1.5bn. The new company would act as a consulting arm, helping businesses adopt Anthropic tools across operations as AI companies increasingly target enterprise customers and private-equity portfolios.

 

Wall Street Journal

Meta CEO Mark Zuckerberg has said the Facebook parent firm's planned ​layoffs are the consequence of increased capital spending for AI, and in comments to staff at a company town hall on Thursday he declined to rule out further job cuts. “We basically have two major cost centers in the company: compute infrastructure and people-oriented things," Zuckerberg said. "If we’re ​investing more in one area to serve our community, then that means we ​have less capital to allocate to the other. So that means we ⁠do need to take down the size of the company somewhat." He added: "Getting everyone internally to use AI tools and getting to do the work more efficiently is not the thing that's driving layoffs."

 

Reuters

Greg Abel’s first Berkshire Hathaway annual meeting as CEO drew praise for his command of the conglomerate’s operations but lacked the draw of Warren Buffett and Charlie Munger’s long-running presence. Attendance, merchandise sales, and event lines appeared lighter, with some shareholders missing Buffett and Munger’s investing lessons and life philosophy. Still, others said Berkshire’s culture was built to endure. “Greg did a good job,” said Alexandra Cook, accounting and finance professor at Palm Beach Atlantic University, adding that Abel reassured shareholders through operational knowledge.

 

Reuters

Europe's top banks, including BNP Paribas, Societe Generale and Standard Chartered, have earmarked €610m ($710m) to brace for the expected impact of the US-Israel war on Iran. The total amount of disclosed war-related charges also includes BBVA, Credit Agricole, Deutsche Bank and ING. “We have used this quarter to increase our provisions in anticipation of a potential deterioration in the economic environment due to the turbulent geopolitical situation surrounding the conflict in the Middle East,” Credit Agricole CEO Olivier Gavalda said. “We are being very cautious.”

 

Bloomberg

The Asian Development Bank launched a financing scheme to help countries in Asia and the Pacific develop critical minerals supply chains for clean energy, batteries, electric vehicles, and digital technology. The facility will support project preparation and infrastructure financing for processing, manufacturing, and recycling. “Asia and the Pacific should be more than a source of raw materials,” said ADB President Masato Kanda, emphasizing jobs, technology, and local value creation. Korea Eximbank and K-SURE each signed $500m memorandums as initial partners.

 

U.S. News