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Data centers are being blamed for rising US power bills, but outdated policy may be the real culprit. Doug Arent of the Center on Global Energy Policy explains how poor incentives are shaping electricity costs

Reuters NEXT Newsmaker with Sixth Street Vice Chairman and Partner R. Martin Chavez to discuss what the convergence of technology and finance means for the future of global markets, on Tuesday, June 30 at 11:40 a.m. GMT / 12:40 p.m. BST. Register here:

Rocket Lab is acquiring Iridium Communications Inc – one of the most transformative deals in the space industry. By combining our launch capability and satellite manufacturing with @IridiumComm’s global satellite communications network and rare spectrum, Rocket Lab becomes a fully integrated, self-launching, tier-1 space power, delivering critical communications capability to millions of users worldwide. Full details and important information:

British American Tobacco is slashing almost a fifth of its global workforce as the cigarette maker removes or outsources 9,000 jobs in a push to simplify its operations and cut costs.

New York City Mayor Zohran Mamdani marched with New Yorkers in the city's annual Pride parade to celebrate LBGTQ+ visibility. In Toronto, thousands gathered for the Toronto Pride Parade, showcasing a vibrant display of community and resilience amid global weather challenges

🚨 SAMSUNG, SK HYNIX, AND MICRON ARE GETTING SUED FOR ENGINEERING THE MEMORY CHIP SHORTAGE. The lawsuit, filed June 25 in California, accuses the three companies of using their pivot to AI memory chips as cover to cut production of regular DRAM, the memory used in everyday laptops and phones. DRAM prices have risen roughly 500-700% over the past four years. Micron reportedly shut down its consumer DRAM brand, Crucial, at the most profitable price point in its history, a move the lawsuit calls economically irrational unless it was coordinated. The lawsuit points directly to Apple's recent price hikes on iPads and Macs as evidence the damage is already reaching consumers. This isn't the first time. Between 1998 and 2002, Samsung, Hynix, Micron, Infineon, and Elpida ran an actual price fixing cartel, confirmed by US federal prosecutors. Samsung paid a $300 million criminal fine, Hynix paid $185 million, and Infineon paid $160 million, with several executives serving real prison time, sentences ranging from 4 to 14 months. The new lawsuit alleges Samsung and SK Hynix later rehired and promoted some of those same convicted executives into senior roles. Together, the three companies control the vast majority of global DRAM supply today, and building a single new DRAM factory costs $15 to $20 billion and takes years, making it nearly impossible for new competitors to break in and undercut them. That's the core problem this lawsuit is targeting. Three companies with total control over a market everyone depends on, the same companies already convicted once before, now facing the same accusation again while prices keep climbing and ordinary buyers have nowhere else to turn. Jefferies doesn't expect relief anytime soon. Prices are forecast to climb another 40-50% next quarter, then a further 30-40% on top of that the quarter after, meaning prices could roughly double by year end. 2027 is expected to bring another 40-45% increase on top of that, with no real normalization expected until 2028.

As Britain prepares for a new prime minister, Amanda Blanc, chief executive of insurer Aviva, discussed the challenges businesses face when navigating changes in government leadership at the FT Global Insurance Summit.

中国领衔攻克二十年世界级难题，成功研制钍-229核时钟，重塑人类精密计时体系#中国硬核科研# Chinese researchers lead the global breakthrough after two decades of exploration, developing the thorium-229 nuclear clock and reshaping ultra-precise timekeeping. #ChineseTechBreakthrough#