A ballot initiative that would impose a wealth tax on California's billionaires could be the start of a global trend, according to six Nobel Prize-winning economists. In a letter, they endorsed the state's Proposition 40, which calls for residents worth more than $1 billion to pay a one-time tax equivalent to 5% of their assets.
"California is the right place to take this historic step," โ they wrote. "The explosive growth of the state's billionaires over the past few decades has made it one of the most unequal places in America."
While billionaires have "made important contributions," the letter added, they have also been "amply rewarded" and have used loopholes to avoid taxes on capital returns, allowing their wealth to compound further.
Supporters point to the AI boom and say California's ultra-rich would still be among the world's wealthiest. The union pushing Prop 40, the Service Employees International Union-United Healthcare Workers West, has said the wealth tax could raise $100 billion in revenue and help offset federal cuts to health spending.
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China said President Xi Jinping will travel to the US to meet Donald Trump, a visit that comes with a one-year trade truce winding down. Xi will make a state visit on Sept. 23-25 at the US presidentโs invitation, according to Chinese Foreign Ministry spokesman Guo Jiakun.
The Chinese leader will have an โin-depth exchange of viewsโ with Trump โon major issues concerning bilateral ties and world peace and developmentโ as both countries look to work jointly to โproperly manage differences,โ Guo said.
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The ECB launched Pontes on Monday, a platform that enables banks and other eligible financial institutions to settle tokenized-asset transactions in central-bank money.
โNow, Pontes is, to summarize it quickly for you, itโs a digital euro made available for banks so that they can transact amongst themselves using tokenized assets and distributed ledger technology,โ โ said Christine Lagarde, ECB President.
The ECB has said Pontes will be developed in stages, alongside its longer-term Appia initiative for wholesale tokenization.
โA digital euro will need enough places to spend it if consumers are to use it, making merchant acceptance a commercial question as much as a policy one,โ โ Isadora Arredondo, vice president of global policy at Hedera, said.
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US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng concluded talks in New โYork on Sunday with the US side proposing a new AI safety notification mechanism for US President Donald Trump and Chinese President Xi Jinping to consider at their summit this โweek.
Ttwo sides discussed setting up a new US-China AI dialogue, with a particular emphasis on national security concerns with a notification system for common goals and common threats that would cover AI-related incidents that rise to a national security level.
"We think that, just like with any cross-border activity, that moving from opaque to more transparency between the number one and the number two AI powers in the world is very important," โ Bessent said at the conclusion of the talks.
Trump โand Xi first discussed potential consultations on AI development in May in Beijing, but that forum was never formalized.
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Absa Corporate and Investment Banking rolled out Absa Digital Asset Custody, marking the first major African bank to offer this service to corporate clients.
The platform, built on Ripple technology, provides secure storage for cryptocurrencies and tokenized assets, complete with private-key management, governance, and regulatory compliance.
"Weโre proud to partner with Absa Corporate and Investment Banking on the launch of Absa Digital Asset Custody.
By leveraging Rippleโs custody technology, Absa is setting a new benchmark for secure, compliant, and bank-grade digital asset management on the continent.
Congratulations to the Absa team on bringing this digital-first solution to market," โ Reece Merrick said.
A major milestone for institutional digital assets in Africa!
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What if reading a book for 15 minutes could earn you a small cash reward? Singapore has introduced a national reading campaign that does exactly that, using virtual rewards that can eventually be converted into money.
The initiative, called ReadSG, was launched by Singaporeโs National Library Board (NLB) on September 6, 2026, as part of a five-year national movement to encourage people to make reading a regular habit. The campaign asks participants to spend at least 15 minutes reading each day and record their reading sessions on the governmentโs CrowdTaskSG platform.
The idea comes amid concerns in Singapore about digital distraction and the amount of time people spend consuming short-form digital content.
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Stablecoin adoption is moving beyond speculative settlement into everyday business operations.
AllUnity and Zebec are driving this shift through a live employee-benefits program powered by EURAU, AllUnityโs regulated euro stablecoin, on the Stellar network. Originally announced in June 2026, the initiative combines Stellarโs high-speed payment network with Zebecโs payroll and payments technology.
By applying blockchain architecture to an established German employee-benefits framework, employers gain a digital way to distribute non-cash perks while providing staff seamless access through the Zebec ecosystem.
Under Section 8 of the German Income Tax Act, employers can offer qualifying non-cash perks to staff alongside standard salaries. These eligible benefits receive favorable tax treatment when kept within a government-defined monthly threshold and compliant with state guidelines.
Crucially, while the framework stems from German tax policy, individual participating employers fund and distribute these perks โ not the government directly.
This operational bottleneck creates a compelling case for programmable payment rails that can automate recurring payouts, enhance transaction visibility, and reduce administrative costs while maintaining strict compliance.
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A Paris-based company has announced the U.S. commercial launch of Eve, the worldโs first FDA-cleared self-balancing personal exoskeleton. This device helps eligible adults with spinal cord injuries stand up and move around at home.
The Eve uses self-balancing technology powered by physical AI, allowing users to stand and move upright while keeping their hands free to reach, carry objects, prepare food, open doors, and participate in other activities of daily living. Eve is designed to complement, not replace, a wheelchair, offering another mobility option for moments when users choose to be upright.
โFor years, I experienced much of the world while seated,โ โ Caroline Laubach, a test pilot for the device, added.
โUsing Eve transformed ordinary moments in ways I never expected, like having conversations eye-to-eye whether seated or standing, getting a cup from the highest kitchen cabinet, and simply bringing a new type of confidence into my life.โ
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The CFTCโs Innovation Task Force will host the Frontier Forum Series, a series of public roundtables on the technologies that are transforming American financial markets.
โThe technologies transforming our markets are rapidly advancing, and the CFTC must engage directly with the people building, using, and studying them,โ โ said Chairman Michael S. Selig.
The inaugural Frontier Forum, focused on AI and agentic finance, will take place on Wednesday, October 28, 2026.
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Petal, the next step in Metaโs subsea innovation, will be the first subsea cable to deliver petabit capacity at transoceanic distances, connecting France and the United States over approximately 7,000 km (4,300 mi). Petal will be built in partnership with NEC and Sumitomo Electric Industries, with support on the French landing from Orange.
Expected to enter service in 2029, it will be the first subsea cable system to deploy multi-core fiber technology at scale, doubling the capacity per fiber without a proportional increase in power or physical infrastructure.
โReaching one petabit on a transatlantic link, 25 years after the terabit milestone, represents a significant breakthrough to meet the exponential traffic growth while optimizing network capacity,โ โ Jean-Louis Le Roux, EVP, Orange International Networks, said.
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Scott Bessent leant on stablecoin adoption and dollar-denominated trade metrics to defend the strength of the U.S. economy, seeking to counter anxiety over surging government debt yields and shifting international payment rails.
He highlighted data amplified by conservative commentator Lawrence Kudlow, to emphasize the greenbackโs enduring global dominanc, noting that the U.S. dollar remains on one side of 89.2% of FX transactions, while the overwhelming majority of stablecoins are pegged to USD.
Bessent also highlighted record median household income, a historically low official poverty rate, continued employment growth and the Atlanta Fedโs 5.1% annualised estimate for third-quarter GDP.
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For centuries, scientists have thought of the brain as a single, unified organ. But new research led by Stanford Medicine reveals that what we call the brain is two distinct organs that evolved independently over hundreds of millions of years.
The new research finding shows that the human brain consists of two ancient nervous systems cleverly packaged together โ a more primitive part that regulates our heartsโ beating, our breathing and other functions, and another that makes us distinctly human, capable of poetry, mathematics and wondering about our own origins.
The discovery could help explain why scientists have struggled for decades to grow certain types of brain cells in the laboratory โ and it opens new avenues for studying devastating diseases that affect the brain stem, such as spinal muscular atrophy SMA) and amyotrophic lateral sclerosis (ALS or Lou Gehrigโs disease).
โWeโve shown for the first time that the front of the brain arises from a totally different progenitor cell than the back of the brain,โ โ said Kyle Loh, PhD, associate professor of developmental biology.
โOur discovery means that we can now grow neurons from the back of the brain, the hindbrain, in a petri dish and study their functions.โ
The findings were published in Nature Neuroscience Sept. 18.
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๐ Tesla video helps driver beat fleeing charge after Winter Springs traffic stop
A Winter Springs man who was arrested at gunpoint in his own driveway after police accused him of fleeing a traffic stop has been acquitted, with Tesla camera footage playing a key role in his defense. The driver said he never saw the officer's emergency lights, while police believed he was trying to flee.
The case took nearly two years to resolve. After reviewing video recorded by the vehicle, a judge acquitted Kevin Finley of the charges before the case was sent to a jury, and he is now considering a civil lawsuit.
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A Winter Springs man who was arrested at gunpoint in his own driveway after police accused him of fleeing a traffic stop has been acquitted, with Tesla camera footage playing a key role in his defense. The driver said he never saw the officer's emergency lights, while police believed he was trying to flee.
The case took nearly two years to resolve. After reviewing video recorded by the vehicle, a judge acquitted Kevin Finley of the charges before the case was sent to a jury, and he is now considering a civil lawsuit.
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Because cancer develops from the body's own cells, figuring out how to target tumors directly while not damaging healthy tissue has proven to be one of the most difficult aspects of treating the disease in all its myriad forms.
Now, scientists have demonstrated a new approach โ turning probiotic bacteria into tiny little drug factories that set up shop inside tumors, producing chemotherapy while helping rally the immune system against the cancer at the same time. When tested in mice, the treatment produced complete regression in three out of seven colorectal tumors.
It's a small result, to be sure, but one that suggests engineered probiotics could one day play an important role in the cancer-fighting toolkit.
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There are a lot of theories about what slows institutional adoption.
According to Raja Chakravorti, Chief Business Officer at the Stellar Development Foundation, the veto is coming from risk and compliance teams. They approve every new product before the institution can offer it to clients, and a tokenized asset on a public blockchain introduces risk categories most of them have never had to evaluate.
Is there a way to freeze the tokenized asset in case of movement to an undesired wallet? Can it be clawed back in case of a sanctioned party gaining control?
For a significant manager, the answer has to be yes. Stellar has spent years building those controls directly into its protocol. On the data side, that same institutional push is what led to Stellar adopting a standardized oracle infrastructure for pricing the assets flowing onto the network.
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Elon Muskโs X has made it easier for its U.S.-based users to turn crypto and stock market chatter on their timeline into trades without leaving the app for long.
This feature, now live, allows U.S. users to tap a cashtag like BTC or TSLA, see their live charts and related posts and hit the "Trade button. Tapping โTradeโ then takes users to one of Xโs partner platforms โ Interactive Brokers, Moomoo, Gemini, Kraken and Coinbase.
Kraken or Coinbase โ where they can log in or sign up and complete the order. X is just letting users act quickly on financial chatter on their timeline, without acting as a broker. The actual buying and selling still happens at one of the partner exchanges.
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Called 'Trump TV: The Essentials Station,' the 24/7 channel offers real-time updates, past moments, and administration announcements, alongside a new mobile app for direct feeds.
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