— Good news on tariffs, including U.S. and China agreeing to a 90-day truce and the U.S. announcing a trade deal with the UK, causing the markets to rally; U.S. likely to keep 10% global tariffs, however, for foreseeable future.
— The Federal Reserve held its key interest rate steady at May 6-7 meeting, but noted that risks of slower economic growth and higher inflation are increasing.
— Google agreed to pay nearly $1.4 billion to the state of Texas to settle 2022 lawsuit allegations of violating the data privacy rights of state residents, following Texas’ 2024 $1.4 billion win against Meta for unauthorized use of biometric data.
— President Trump signed an executive order that would require U.S. drug companies to dramatically lower their drug prices in the U.S. to match what they charge in foreign countries.
— New York state approved a state budget that allocates more than $1 billion for decarbonization, including lower emissions from buildings and the electrification of transport.
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