Search This Blog

Sunday, April 26, 2026

Iran said to offer US deal to reopen Hormuz

 Iranian negotiators offered the United States a deal to reopen the Strait of Hormuz but delay talks about its nuclear program, Axios reported, citing an unnamed US official and sources with knowledge of the situation.

Tehran reached out to Washington via mediators, aiming to broker an agreement to end the conflict and break the diplomatic stalemate. At the same time, Iranian Foreign Minister Abbas Araghchi conveyed to Turkish, Pakistani, and Qatari mediators that the Iranian leadership is unable to reach a consensus on how to respond to Washington's requests to give up its stockpile of enriched uranium, the two sources alleged. Furthermore, Trump will reportedly hold another Situation Room meeting about Iran on Monday.

Pakistani officials declined to provide a comment.

https://breakingthenews.net/Article/Iran-said-to-offer-US-deal-to-reopen-Hormuz/66150751

Compute Costs More Than Talent In AI

 For leading AI companies, the biggest expense is not talent. It is compute.

This chart from Visual Capitalist’s AI Week, sponsored by Terzo, uses Epoch AI data to compare spending at Anthropic, Minimax, and Z.ai across R&D compute, inference compute, and staff plus other costs.

In every case, compute accounts for the majority of total spending, underscoring how capital-intensive it has become to build and serve frontier AI models.

How AI Company Costs Break Down

Despite differences in scale, all three companies allocate the largest share of their budgets to a single category: compute.

The data below compares spending composition across Anthropic, Minimax, and Z.ai. Anthropic’s figures are for 2025, while Minimax’s are from Q1 to Q3 of 2025 and Z.ai’s are for H1 2025.

Across all three AI companies, compute is the main cost center. Epoch AI estimates that R&D compute and inference compute together account for 57% to 70% of total spending, making infrastructure more expensive than staff and other costs in every case.

Among the three, Z.ai has the most R&D-heavy profile, with 58% of spending tied to compute powering model development and training.

Anthropic stands out for sheer scale. Epoch AI estimates the company spent $9.7 billion in 2025, including $6.8 billion on compute alone across training and inference.

Its costs are significantly higher than Minimax’s and Z.ai’s, even if the two Chinese AI companies’ figures were annualized to match Anthropic’s full-year period.

Both Chinese companies release many of their models as open source, meaning the model weights are freely available for anyone to download, modify, and run. This strategy helps them compete with better-funded U.S. labs by building developer adoption at a fraction of the cost.

AI Talent Costs Less Than Chips and Compute

One of the clearest takeaways is that talent costs less than compute in this comparison. Even though top AI labs pay some of the highest salaries in tech, staff and other costs still account for less than half of total spending at each of the three firms.

While the chart focuses on costs, Epoch AI estimates these labs are currently spending around 2–3x more than they generate in revenue, even as some expect economics to improve over time.

How These Estimates Were Built

This dataset comes with a few important caveats. Anthropic’s figures are based on reporting from The Information and are more speculative, while Minimax and Z.ai figures come from IPO filings released in January 2026.

The time periods also differ: Anthropic data is for the full year of 2025, Minimax covers 2025 Q1–Q3, and Z.ai covers 2025 H1. Epoch AI says its expense totals include operating expenses, cost of goods and services, and non-cash items such as stock-based compensation.

https://www.zerohedge.com/ai/compute-costs-more-talent-ai

Omar Probe Expands Into Hubby's $30M Of Shady Biz Deals In Kenya, Dubai And Somalia

 House Oversight Chairman James Comer is cranking the investigation into Rep. Ilhan Omar’s husband, Tim Mynett, into overdrive - demanding a full accounting of shadowy international business trips and deals that stretch from the Horn of Africa straight into Kenya, Somalia and the glittering skyscrapers of Dubai.

Omar has been making strange moves since February, after Comer fired off a no-holds-barred letter demanding every document and communication on Mynett’s travel and business dealings in Kenya, Somalia and the UAE. Since then, the story has exploded again with several stunning new twists: Omar quietly amended her 2024 financial disclosure in late March, slashing the reported $30 million fortune down to nearly zero; just nine days later, on April 4, the California winery central to those valuations was officially dissolved; forensic accountants have publicly torn into the revised numbers for major inconsistencies.

The Feb. 5 letter ordered Mynett - president of Rose Lake Capital LLC and co-owner of the now-defunct eStCru LLC winery - to hand over every record related to travel or business solicitation in those three countries. The Feb. 19 deadline came and went with no public confirmation that Mynett ever complied.

Omar’s original 2024 disclosure, filed in May 2025, showed the two firms exploding in value from a combined $51,000 in 2023 to as much as $30 million the following year. Rose Lake Capital was listed between $5 million and $25 million; the winery sat between $1 million and $5 million. Then came the late-March amendment, in which Omar blamed an accountant’s error in netting out liabilities. The companies’ reported net value was wiped to zero and the couple’s total household assets were slashed to between $18,004 and $95,000.

Nine days after that amendment, California business records show eStCru LLC was officially terminated and dissolved on April 4. The winery had never owned a vineyard, tasting room or major production equipment. It produced only tiny batches at a shared custom-crush facility, had no active phone line and went dark on social media years ago. It was already dogged by investor lawsuits alleging fraud. One Washington, D.C., restaurateur, Naeem Mohd, claimed he invested roughly $300,000 after being promised a 200% return in 18 months - plus 10% monthly interest if late. A separate cannabis-related venture involving Mynett’s partner William Hailer ended in a roughly $1.2 million settlement after investors accused the duo of misappropriating funds.

According to Comer's letter, Rose Lake Capital had marketed itself as a globe-trotting player with "deep global networks" built from on-the-ground work in more than 80 countries. Its website - later scrubbed of officer and advisor names, including former diplomats - hyped sustainable investments and solar-panel projects across Africa. One partner reportedly received a $10,699 business-class ticket to Dubai for deal discussions. The firm once claimed to manage $60 billion in assets - an eye-popping figure for a company that, according to earlier disclosures, had less than $1,000 in the bank in 2023.

Because of this, "unknown individuals may be investing to gain influence" with Omar. The timing has fueled even more suspicion: the reported wealth spike overlapped with the massive social-services fraud scandals ripping through Minnesota’s Somali-American community - the heart of Omar’s district - where authorities allege billions in taxpayer dollars were looted through fake daycare and nutrition programs.

Mynett’s past adds another layer. Before launching these ventures, he and partner Hailer ran E Street Group, a political consulting firm that pulled in nearly $3 million from Omar’s own congressional campaigns. Former associates described the pair as well-connected Democratic insiders.

Omar’s office has dismissed the entire inquiry as a "political stunt" and "smear campaign." Mynett has not responded publicly to the document demands or the sudden shutdown of the winery.

President Donald Trump has repeatedly called for Omar to face criminal charges, linking her to what he claims is up to $2.5 trillion in Minnesota welfare fraud - a figure he has offered without direct evidence tying her personally to the full scale of the scandal.

As of April 26, 2026, the $30 million paper fortune has evaporated on paper, the vineyard is legally gone, and the international paper trail now leads from a quiet Sonoma wine label straight into East Africa and Dubai. The House Ethics Committee has the ball, Comer shows no signs of letting go, and citizen sleuths continue digging through the disclosures.

Whether this was a spectacular (if suspiciously timed) business success, a simple accounting blunder, or something far more troubling is the question lawmakers - and the public - now demand answered. The money trail is global. The clock is ticking. And the spotlight is burning brighter than ever.

https://www.zerohedge.com/political/ilhan-omar-probe-expands-hubbys-30m-shady-biz-deals-kenya-dubai-and-somalia

SBA Sends 562k Pandemic Loans To Bessent For Collections Totaling $22 Billion

 The U.S. Small Business Administration (SBA) has announced a sweeping enforcement action targeting suspected pandemic-era loan fraud, referring more than 562,000 borrowers tied to $22.2 billion in delinquent loans to the U.S. Department of the Treasury for collection, according to the Small Business Association. The move marks the largest referral package in the agency’s history and signals a major escalation in federal efforts to recover funds distributed through COVID-19 relief programs.

The loans in question stem from the Paycheck Protection Program (PPP) and COVID Economic Injury Disaster Loan (EIDL) initiatives, which were designed to support small businesses during the pandemic. According to the SBA, these loans had already been flagged for potential fraud in prior years but were not previously sent for collection or investigation.

Now, in coordination with the White House Task Force to Eliminate Fraud, the SBA has not only referred these debts to Treasury but also transmitted borrower information to the Department of Justice (DOJ) for potential legal action. Treasury’s Bureau of the Fiscal Service will begin collection efforts immediately.

"The SBA has transmitted the borrowers to the DOJ. And with today's referral, Treasury will begin collecting on the outstanding debt as part of the Trump Administration's commitment to recouping stolen pandemic-era funds on behalf of American taxpayers and small business owners," the agency wrote in a press release.

Loeffler stated, "From Day One, the Trump SBA has worked tirelessly to crack down on billions in pandemic-era fraud that the Biden Administration forgave or ignored."

"After extensive review, and with the strong support of the White House Task Force to Eliminate Fraud, we are taking our most decisive action yet to end a Biden-era scheme that protected over 560,000 borrowers tied to more than $22 billion in suspected pandemic-era fraud," she continued.

Loeffler's crusade to root out fraud, waste, and abuse was evident earlier this year when her team terminated hundreds of firms from the nation's largest DEI program, otherwise known as the 8(a) Business Development Program. These firms were terminated for failing to comply with the SBA's order to turn over three years' worth of financial documents for review. The companies were allegedly involved in DEI fraud as business pass-throughs.

Separately, the SBA has introduced new anti-fraud controls, including citizenship and birthdate verification, and launched a state-by-state probe into pandemic-era loan fraud. The agency has suspended nearly 112,000 borrowers in California and Minnesota suspected of obtaining fraudulent loans.

The Biden administration's failure to crack down on billions in pandemic-era fraud raises serious questions.

https://www.zerohedge.com/political/sba-sends-562k-pandemic-loans-bessent-collections-totaling-22-billion

US budget airlines pitch $2.5 bln relief plan to Trump admin- WSJ



A group of U.S. budget airlines, including Frontier and Avelo, are seeking $2.5 billion in government assistance in exchange for warrants that could convert into equity stakes, the Wall Street Journal reported on Sunday.

The group came up with the $2.5 billion figure by calculating just how much more they expect to spend on jet fuel this year compared to earlier forecasts, the WSJ report said, citing people familiar with the matter.


The estimate assumed jet fuel prices would average above $4 a gallon in the remainder of the year. Talks on a potential economic aid package are expected to continue in the coming days, the WSJ report said.

Global airlines were battered by a spike in jet fuel prices, as the U.S.-Israel war on Iran disrupted global oil supplies and pushed up upstream prices.

Budget airlines were viewed as especially vulnerable, given their already razor-thin margins.

The Trump administration was seen considering extending a lifeline to Spirit Airlines to help it avoid liquidation. The company is in talks to receive up to $500 million in return for warrants offering a major stake in the airline, earlier WSJ reports said.

Several budget airline CEOs were seen meeting top U.S. officials in Washington, D.C., last week, the WSJ reported.

https://au.investing.com/news/stock-market-news/us-budget-airlines-pitch-25-bln-relief-plan-to-trump-admin-wsj-4385084

Trump blasts '60 Minutes' for reading shooter's manifesto

 United States President Donald Trump called CBS' Norah O'Donnell "a disgrace" during a "60 Minutes" interview for reading parts of the manifesto written by the suspected White House Correspondents' Dinner shooter.

Trump's comments came after O'Donnell read an excerpt from the suspect's writings in which he said he's "no longer willing to permit a pedophile, rapist and traitor to coat my hands with his crimes." The journalist then asked Trump for his reaction to the passage, which didn't mention him by name.

"I was waiting for you to read that because I knew you would because you're horrible people," Trump told O'Donnell. "I'm not a rapist. I didn't rape anybody," he said. "I'm not a pedophile. You read that crap from some sick person? I got associated with all stuff that has nothing to do with me. I was totally exonerated," Trump added.

https://breakingthenews.net/Article/Trump-blasts-'60-Minutes'-for-reading-shooter's-manifesto/66150513

US says it turned back 38 ships in Iran blockade

 The United States Central Command (CENTCOM) said its forces are continuing their blockade of Iranian ports, preventing ships from entering or exiting.

"American forces have directed 38 ships to turn around, or return to port," CENTCOM's brief statement on X said.

https://breakingthenews.net/Article/US-says-it-turned-back-38-ships-in-Iran-blockade/66150622