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Microsoft's $450 Billion Jump Is Biggest In Stock Market History

3 months ago
Microsoft shares surged as much as 17% after reporting 43% growth in Azure revenue, putting the company on track to add a record $490 billion in market value in a single day. Bloomberg notes that it "would eclipse Nvidia's $440 billion addition, following President Donald Trump's announcement of a 90-day tariff pause last year, as the biggest ever." From the report: The nearly $500 billion jump is larger than the market capitalization of roughly 96% of S&P 500 stocks, data compiled by Bloomberg show. It's also bigger than the combined value of the benchmark's 44 smallest members, which includes companies like Domino's Pizza Inc., Clorox Co. and Hasbro Inc. Microsoft's one-day add in value also dwarfs many of the world's other equity markets. South Africa, Turkey, Finland and Vietnam all have total stock market values that are less than what the software maker is set to add on Thursday.

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ABC Accuses FCC of 'Attempted Censorship'

3 months ago
ABC accused FCC Chair Brendan Carr of "attempted censorship," arguing that an early review of its eight broadcast licenses is politically motivated retaliation over the network's coverage and could chill the entire media industry. "The retaliation against ABC is a signal to every media company in the country: accommodate the Administration's view of what news coverage should look like or pay the price," the Disney-owned television network wrote. Politico reports: "Across the government, regulatory and contracting carrots and sticks have been trained on other disfavored speakers," ABC's lawyers added in the 119-page filing. "The tools vary; the objective does not: a media industry too fearful of official reprisal to report the news freely." Carr has repeatedly rejected accusations of censorship while defending his efforts to rein in what he calls abusive, politically motivated behavior by licensed TV broadcasters. "I don't view the FCC as the speech police," he told POLITICO this week for an upcoming episode of the podcast "The Conversation." In its filing, ABC pointed to an outpouring of support it has received in more than 152,000 comments in the agency's license review, as well as recent warnings from conservative Supreme Court Justice Neil Gorsuch, Sen. Ted Cruz (R-Texas) and various pro-free-market organizations about the dangers of a politically motivated FCC. Those include letters from a bipartisan group of former FCC leaders, community and advocacy groups and lawmakers of both parties. "The Commission's attempted censorship of ABC has attracted condemnation across the political aisle," the network wrote.

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Amazon's Zoox Wins First US Approval For Paid Robotaxis Without Human Controls

3 months ago
An anonymous reader quotes a report from Reuters: Amazon's Zoox unit has won U.S. approval for limited commercial deployment of its novel steering-wheel-free robotaxis, a first for the autonomous ride industry, the U.S. auto safety agency said on Thursday. Zoox said that the National Highway Traffic Safety Administration's decision gives the company federal approval to begin charging for rides, and that it will soon begin charging for service, first in Las Vegas, with additional markets to follow as it completes various state requirements. [...] NHTSA Administrator Jonathan Morrison told Reuters that Zoox had received clearance to commercially deploy up to 2,500 vehicles in each of the next two years. Zoox currently carries passengers in parts of Las Vegas and San Francisco as part of testing. The exemption would allow Zoox to charge them fees, subject to state and local approvals. The agency said it determined the vehicle is as safe as an equivalent vehicle meeting federal motor vehicle safety standards that are being waived. Zoox cannot sell any of the vehicles to the public. "We can say pretty clearly that the systems in place on the Zoox exceed the equivalent performance requirements of a compliant vehicle," Morrison said in an interview. "But we still want to make sure that the automated driving system will operate appropriately." As part of the exemption, NHTSA is placing additional reporting requirements on Zoox for issues such as crashes or stopping inappropriately on roads, and the regulatory agency will adjust the conditions based on how the vehicles behave. "We have the ability to pull the exemption if we see major safety issues," Morrison said. All remote operators must be located in the United States, NHTSA said, and Zoox must publish maps of areas indicating where the vehicles are operating. Morrison said NHTSA expects to develop the first federal safety standards for automated driving systems by the end of the Trump administration. It is also proposing to overhaul some existing rules written with human drivers in mind such as requiring brake pedals and rear-view mirrors.

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