timelets

Elon Musk’s artificial intelligence startup xAI is burning through $1 billion a month as the cost of building its advanced AI models

https://www.bloomberg.com/news/articles/2025-06-17/musk-s-xai-burning-through-1-billion-a-month-as-costs-pile-up

CHENNAI – Singapore companies will invest $5 billion in several areas, including infrastructure, technology, sustainability and data centres, in Tamil Nadu, expanding the Republic’s presence in the southern Indian state.

MTI noted that Tamil Nadu is “often the first port of call for Singapore companies looking at South India, given the cultural and historical familiarity between both states”.

The state, with a population of 72 million, is the second-largest contributor to India’s gross domestic product, behind Maharashtra, whose capital is Mumbai. Tamil Nadu’s ambition is to be a US$1 trillion (S$1.33 trillion) economy by 2030, and it has been aggressive in wooing foreign investors. Its chief minister, Mr M.K. Stalin, travelled to Singapore in May 2023 to attract investments from the South-east Asian nation.

https://www.straitstimes.com/asia/south-asia/singapore-companies-to-invest-5-billion-in-india-s-tamil-nadu-state

Instead of breaking with Putin, the technocrats have cemented their role as his enablers, using their expertise and tools to soften the blow of western sanctions and hold Russia’s wartime economy together

As the war rages on, critics say their continued silence while they help the Russian state tick along has become a form of acceptance, making them complicit in a war they privately profess to oppose.

https://www.ft.com/content/fe5fe0ed-e5d4-474e-bb5a-10c9657285d2

По словам трех источников «Медузы» в ЦБ, с начала вторжения из регулятора пока уволилось не больше 50 человек — из штата почти в 50 тысяч сотрудников.

After bringing the war to a successful close, he was equally happy in adjusting the problems of peace, by establishing concord between the cities, and particularly by healing the dissensions between debtors and creditors. 3 For he ordained that the creditor should annually take two thirds of his debtor's income, and that the owner of the property should use the rest, and so on until the debt was cancelled.

https://penelope.uchicago.edu/Thayer/E/Roman/Texts/Plutarch/Lives/Caesar*.html

HONG KONG—China’s Commerce Ministry said it would expand a pilot program for its digital currency to include a number of large cities, advancing a pioneering initiative by a major central bank to launch an electronic payment system.

The digital currency pilot program will cover much of China’s most prosperous regions, the Commerce Ministry said Friday: the capital Beijing and nearby Tianjin and Hebei province in the north; the Yangtze River Delta to the south; and, along China’s wealthy southern coast, Guangdong province and the neighboring cities of Hong Kong and Macau.

https://www.wsj.com/articles/china-to-expand-testing-of-a-digital-currency-11597385324

The Federal Reserve Bank of New York added $72.8 billion in temporary liquidity to financial markets Friday.

The intervention came via three-day repurchase agreements, or repos. The Fed took all the securities offered to it by eligible banks. Fed repo interventions take in Treasury and mortgage securities from eligible banks in what is effectively a short-term loan of central-bank cash, collateralized by the securities.

The Fed also bought $7.5 billion in Treasury bills on Friday. Eligible banks offered the Fed $23.17 billion.

On Thursday, the Fed reported that its balance sheet had risen from $3.8 trillion in September to $4.07 trillion as of Wednesday. Some $208 billion in repo interventions were also outstanding as of Wednesday.

https://www.wsj.com/articles/fed-adds-72-8-billion-to-markets-balance-sheet-moves-to-4-07-trillion-11575642409