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Republicans have proposed the remittance tax as part of a broader push to crack down on undocumented immigration.Mexican President Claudia Sheinbaum has denounced a provision in a tax bill being considered in the United States Congress that would impose duties on remittances — a term used to describe the money people send abroad for non-commercial reasons, often as gifts to family and loved ones. On Thursday, during her morning news conference, Sheinbaum addressed the tax bill directly, calling the remittances proposal “a measure that is unacceptable”. “It would result in double taxation, since Mexicans living in the United States already…

Walmart, the world’s largest retailer, will have to start raising prices later this month due to the high cost of tariffs, executives have warned in a clear signal that United States President Donald Trump’s trade war is filtering through to the US economy. As a bellwether of US consumer health, Walmart’s explicit statement on Thursday is also a signpost for how the trade war is affecting companies as Walmart is noted for its ability to manage costs more aggressively than other companies to keep prices low. Walmart’s shares fell 2.3 percent in morning trading after it also declined to provide…

The United States Department of Justice (DOJ) is carrying out a criminal investigation into UnitedHealth Group for possible Medicare fraud. The Wall Street Journal (WSJ) first broke the story on Wednesday. UnitedHealth said it had not been notified by the DOJ about the “supposed criminal investigation reported”, and the company stood by “the integrity of our Medicare Advantage program”. The DOJ’s healthcare-fraud unit is overseeing the criminal investigation, which focuses on the company’s Medicare Advantage business practices, WSJ reported, citing people familiar with the matter. While the exact nature of the potential criminal allegations against UnitedHealth is unclear, it has…

Martello, a UK-based property data intelligence company, is rethinking the way environmental and location-based risks are assessed in property transactions, using AI to bring greater clarity and speed to the conveyancing process.The company has raised £1.2m in a funding round led by Fuel Ventures, with additional backing from strategic angel investors with deep knowledge of environmental searches and property law.Martello offers a platform that uses artificial intelligence and real-time data analysis to assess risks such as flooding, subsidence, and land contamination. These factors can have a significant impact on property transactions, and Martello aims to improve how this information is…

Penzilla, a Munich-based pension technology company, is transforming the way businesses manage occupational pension schemes through its digital platform.The start-up has raised €3.2m in seed funding to accelerate product development and expand its market presence. The round was led by Acadian Ventures and Delin Ventures, with participation from Robin Capital, as well as existing backers Motive Ventures and WENVEST Capital. Prominent angel investors including Diana zur Löwen also contributed strategic support.Penzilla offers a digital solution that automates the complex and often error-prone process of managing occupational pensions. The platform integrates with widely used HR and payroll systems such as Personio,…

Chips are a critical component of the AI industry. But new chips don’t hit the market with the same speed as new AI models and products do. Cognichip has a lofty goal of creating a foundational AI model that can help bring new chips to market faster. San Francisco-based Cognichip is working to build a physics-informed foundational AI model that can be used by semiconductor companies to speed up the development process of new chips. The company is calling this approach “artificial chip intelligence” and hopes it can help speed up chip production times by 50% and reduce the associated…

Google announced on Thursday that it’s rolling out new AI and accessibility features to Android and Chrome. Most notably, TalkBack, Android’s screen reader, now lets you ask Gemini about what’s in images and what’s on your screen. Last year, Google brought Gemini’s capabilities to TalkBack to give people who are blind or have low vision access to AI-generated descriptions for images, even when Alt text isn’t available. Now, people can ask questions and get responses about their images. Image Credits:Google For example, if a friend texts you a photo a their new guitar, you can get a description of it…

SurgePays, a wireless and FinTech firm delivering mobile and financial services to underserved communities, has announced a $7m senior secured convertible note agreement with a current institutional shareholder.The financing comprises $6m in cash and a buyback of 333,333 shares from the investor’s existing equity holding. The note will mature two years from issuance and becomes convertible after eight months at a fixed price of $4 per share, representing a premium on the company’s closing price as of 13 May 2025. SurgePays retains the option to repay the note early with a 2% premium plus accrued interest.SurgePays operates as both a…

Sunbound, a FinTech company specialising in financial and accounts receivable solutions for senior living operators, has formed a strategic partnership with Omega Healthcare Investors, a leading real estate investment trust (REIT) focused on the skilled nursing and assisted living sectors.As part of the agreement, Omega Healthcare Investors has taken an equity stake in Sunbound. The partnership will also offer Omega’s network of operator partners exclusive benefits, including preferred access and pricing to Sunbound’s suite of payments, accounts receivable, and financing services.Sunbound provides a modern, user-friendly platform that enables senior living operators to streamline billing, ensure timely payments, and optimise cash…

NEW YORK (AP) — New York University said it would deny a diploma to a student who used a graduation speech to condemn Israel’s attacks on Palestinians and what he described as U.S. “complicity in this genocide.”Logan Rozos’s speech Wednesday for graduating students of NYU’s Gallatin School sparked waves of condemnation from pro-Israel groups, who demanded the university take aggressive disciplinary action against him. In a statement, NYU spokesperson John Beckman apologized for the speech and accused the student of misusing his platform “to express his personal and one-sided political views.”“He lied about the speech he was going to deliver…