Proposed billionaire tax could impact California sports teams

The billionaires targeted by the wealth tax on the November ballot include owners of some of California’s top sports teams and, among them, there will be winners and losers if voters approve the measure. Which owners would be ensnared by the proposed tax on billionaires’ assets remains unclear, since it’s largely dependent on whether they…

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AI stock selloffs fuel fears Big Tech’s best quarters are over

Many of the top technology stocks, which seemed almost unstoppable for months, got hammered this week as fears grew that massive spending on artificial intelligence won’t pay off anytime soon. Some investors have expressed concerns that the AI rally has inflated some shares too much. Hundreds of billions of dollars are being spent on data…

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