Author: bibhuti

The US Senate has approved Kevin Warsh as the newest governor of the Federal Reserve, with a vote on his confirmation as chair of the central bank expected this week.In a 51 to 45 vote in the US Senate on Tuesday, lawmakers sided on party lines, with the exception of Democratic Senator John Fetterman, to approve President Donald Trump’s nominee. The chamber immediately followed by approving a motion to invoke cloture on a vote for Warsh as the next Fed chair, setting up a potential vote soon.Source: US SenateThe vote confirmed Warsh as a Fed governor for 14 years, and…

Location : The M1 northbound exit slip at junction J24 . Reason : Congestion. Status : Currently Active. Return To Normal : Normal traffic conditions are expected between 22:15 and 22:30 on 12 May 2026. Delay : There are currently delays of 10 minutes against expected traffic. Source link

OpenAI CEO Sam Altman finally took the stand this morning to defend himself against his former cofounder Elon Musk’s lawsuit challenging OpenAI’s corporate structure. Altman was asked out of the gate what he thought of Musk’s allegation that OpenAI’s other founders “stole a charity” when they launched a for-profit subsidiary to market products based on the company’s AI models. “It feels difficult to even wrap my head around that framing,” Altman said after several seconds of silence. “We created one of the largest charities in the world. This foundation is doing incredible work and will do much more.” Musk’s attorneys…

Former Tesla executive Drew Baglino has quietly founded a heat pump startup, TechCrunch has learned. This is the second company founded by Baglino in the two years since he left Tesla. Sources confirmed the existence of the startup, called Sadi Thermal Machines, and TechCrunch has reviewed company filings in Delaware and California. Sadi was formed in June 2025 and shares its Scotts Valley, California, headquarters with Heron Power, a startup also founded by Baglino, that sells solid-state transformers, according to company filings. The name of the company is an apparent reference to Nicolas Léonard Sadi Carnot, a pioneering French physicist…

Researchers at The University of Osaka, in collaboration with Ritsumeikan University, have demonstrated that growing europium-doped gallium nitride (Eu-doped GaN) on a semipolar crystal plane dramatically improves red light emission. The team found that this approach selectively promotes the formation of highly efficient Eu luminescent centers, resulting in red emission intensity more than 3.6 times higher than that of conventionally grown polar-plane material. Source link

Early-stage venture firm A* Capital on Tuesday announced a $450 million Fund III. The firm takes a generalist approach, backing companies across categories including AI applications, fintech, healthcare, and security.The average check size for this fund will be between $3 million and $5 million, with the aim to back at least 30 startups. The capital will be deployed over the next two to three years, as with the firm’s previous funds. Limited partners include nonprofits, foundations, and endowments; Carnegie Mellon University is among the publicly named backers. A* Capital, founded in 2020 and run by Kevin Hartz and Bennet Siegel,…

Littlehampton Road (A2032) in Worthing remains closed following the collision earlier today. A spokesman for Sussex Police said: “We are saddened to report that an 89-year-old woman has died in a collision in Worthing. “The incident happened at about 1.35pm on the A2032 Littlehampton Road today (12 May) and emergency services remain at the scene. “The woman’s next of kin have been informed and our thoughts are with them at this time. “A 21-year-old man was arrested on suspicion of causing death by dangerous driving and remains in custody at this time. “Officers are appealing for witnesses and information.” A…

MIT’s Universal Learning is a new initiative from MIT Open Learning designed to prepare learners everywhere to tackle complex global challenges through boundary-crossing thinking. Universal Learning offerings combine subject matter expertise from MIT faculty and experts and Open Learning’s more than 25 years of innovation in online education to deliver a learning experience centered on real-world stories, practical exercises, and the needs of global learners. It is delivered on the MIT Learn platform, leveraging the capabilities of the AskTIM AI assistant to support learners throughout their educational journey. Universal AI, the first offering from Universal Learning, launched to the public today. Future offerings will…

The Fair Work Agency (FWA) was launched last month to uphold new employment law reforms under the Employment Rights Act 2025, including investigating breaches regarding the National Minimum Wage (NMW), holiday pay, and statutory sick pay (SSP).Its enforcement comes at a time of heightened scrutiny over workplace compliance, with a recent University College London (UCL) study revealing that at least one in seven UK workers has experienced a violation of their employment rights in the last two years.But while some violations aren’t deliberate and can be easily overlooked, it serves as a clear reminder to smaller businesses that employment law…

Key TakeawaysElliptic secured $120 million on May 12, 2026, boosting its valuation to $670 million for onchain analytics.Nasdaq Ventures and Deutsche Bank joined the Series D, signaling deep institutional trust in crypto compliance.Elliptic plans to scale its artificial intelligence (AI)-native platform to monitor $33 trillion in annual stablecoin transaction volume. Elliptic to Advance AI Compliance Following $120M Series D The infusion of capital brings Elliptic’s total valuation to $670 million. This milestone comes at a time when the lines between decentralized finance and legacy banking continue to blur. Elliptic now screens a larger portion of the global onchain economy than…