AI stocks weigh on markets Thursday as oil rises to highest price since May




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An uncanny strength of the second Trump administration has been its ability to be involved in so many scandals that no single one seems to become a dominant story.
Take the most recent allegations about Alina Habba, Trump's former personal defense attorney, who recently landed a plush gig working for Julio Herrera Velutini, a Venezuelan banker. Habba will get $50 million over five years to do unspecified work for a company that barely exists, according to The New York Times, while Herrera got a presidential pardon for a 2025 campaign finance charge.
That's just a typical day for the current White House, where the mingling of personal and public business has become routine. Some days, the story is President Donald Trump trying to help himself to taxpayer funds by suing the government he runs, or shipping billions of taxpayer dollars to a foreign mining company partially owned by his sons. Other times, it is Trump selling political influence in the form of digital coins, or his appointees getting caught in naked pay-to-play schemes. If you have a hard time keeping track of it all, I get it. The corruption is so deep and wide that focusing on any singular item becomes difficult.
But that constellation of corruption might finally be breaking through to voters ahead of next month's midterm elections.
A recent Fox News poll found that "government corruption" was the top issue for voters, ranking ahead of inflation and gas prices. Conservative commentators are taking notice.
"What they're saying is, 'Look, we're tired of you getting rich and us getting poor,'" former White House Chief of Staff Mick Mulvaney said this week.
Tim Carney, senior columnist at the conservative Washington Examiner, also tabs the corruption issue—along with other "avoidable mistakes" such as the Iran War and tariffs—as one of the major reasons why Democrats are likely to win the midterms:
Trump and his family have enriched themselves in this second term in ways more similar to third-world regimes or Cook County than to any previous administration. He and his family operate a financial company that has received heavy investments from Qatar's government. He's sold access to himself by selling otherwise worthless cryptocurrency. The IRS he controls settled a lawsuit with him, promising to pay him $1.8 billion (this settlement was voided by a judge).
Trump is not directly on the ballot next month, of course. And most voters might not be able to tell you the details of any single Trump scandal in detail. Even so, this may turn out to be the defining narrative of the second Trump administration, and there seems to be a growing consensus that Republicans have allowed (if not aided and abetted) his corrupt behavior, so it's time to give Democrats a shot at reining it in.
The Trump corruption issue is like the Biden cognitive decline issue in one key sense: Everyone around the president or even supporting him professionally from afar should be asked about it, and their lies/claims of ignorance should be hung around their necks like dumbbells.
— Matt Welch (@MattWelch) October 20, 2026
Vice President J.D. Vance told journalist Mark Halperin this week that he's "never seen any evidence that anybody's selling access to the president." When Halperin pushed back, Vance doubled down: "What I would say is I don't think there's evidence that the Trump family has become enriched by politics," the vice president said.
So either Vance isn't paying attention, or he's deliberately misleading. "Credit to Vance, it's as good an argument as is available to him," writes Daniel Foster at National Review. "The bad news is it's still not very good."
The internet nearly crashed on Wednesday as digital security and website administrators scrambled to patch two vulnerabilities in the PHP programming language that serves as the basis for many websites.
"Since its development in the 1990s, PHP has evolved into an essential scripting language for web development and is used across vast swaths of the internet in websites and software," explains Wired. "Everything from publishing systems like WordPress and Drupal to e-commerce platforms like Adobe's Magento are built on PHP."
Amid fears that hackers and AI agents could exploit the security weakness, many websites were taken offline. The National Security Agency and its counterparts in the United Kingdom and the European Union sounded the alarm. Even the prime minister of Japan, Sanae Takaichi, was telling website administrators to take the issue seriously.
The potential hacking abilities of advanced AI agents make these sorts of security risks more serious. In this case, however, the problem was also identified with the help of AI.
"Ryan Austin, a researcher at Calif, uncovered the flaws with help from GPT-5.6 Sol, one of OpenAI's most advanced models, during an audit of PHP's source code in August," The Wall Street Journal reports. Another security researcher had flagged the issue years ago, but it had never been fixed because it was considered "considered too difficult to exploit" by human hackers.
This is the future of humanity's digital landscape. "Given the severity of these flaws and PHP's widespread use, we consider this one of the most impactful security issues in recent memory," OpenAI said in a statement on Wednesday. "It highlights how AI can uncover security flaws with internet-scale impact, but the same capabilities can also help attackers rapidly develop offensive tools and exploits."
(A shoutout to Reason's web development team for keeping us up and running, today and every day.)
"Fanciful fiction." Media outlets also continue to face decidedly nondigital threats over articles and polls that make the president unhappy.
The White House threatened Politico on Wednesday with unspecified "consequences" for publishing "fanciful fiction" in a series of articles earlier this month about White House Chief of Staff Susie Wiles. If the articles are not retracted, it would trigger "an immediate review of Politico's relationship with the White House, and, of course, consideration of all other appropriate and available legal remedies," wrote White House counsel William O. Scharf in a letter to the media outlet's publisher.
Meanwhile, FCC Chairman Brendan Carr issued vague threats to broadcasters who cover what Carr called "Fake Polls" intended to "alter the normal patterns of voter turnout and enthusiasm."
These sorts of threats are an affront to the First Amendment, of course. But they are downstream of a more significant issue: the very existence of the FCC.
It's a problem, obviously, that the FCC is run by an authoritarian jackass. But the bigger problem is that the agency contains so many tempting tools for an authoritarian jackass to wield. https://t.co/Q4IJXntkOy
— Jesse Walker (@notjessewalker) October 21, 2026
A group dispatched by Hegseth's team in February attempted to move the historic globe, said to be used by Eisenhower during World War II.
They lifted it from its home in an Army office in the Pentagon … and dropped it. pic.twitter.com/vTjWdYXn0k
— Dan Lamothe (@DanLamothe) October 22, 2026
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Leave it to Arundhati Roy to deliver a scorching, dizzying essay on the perils of artificial intelligence that references Greek mythology, Francis Ford Coppola, the Bible, India’s industrial history, and Tie Me Up! Tie Me Down! Plus, Emily Dickinson features in the lede:
The auguries are raining down hard. Think or Sink. Comply or Die. Look Up or be Left Out. And so, with these not-so-gentle threats, it has come to pass that the Age of AI—Actual Idiocy, Actual Super Idiocy, Recursive Snowballing-Idiocy—is upon us. Heck, I’ve already used two dashes in this opening paragraph. That, as they say, is a tell. So, perhaps I haven’t written this essay at all. You’d have to use an AI app to check if it’s actually AI, and whether I’m really, or not really, or only partially me. You can no longer use your instincts. You have to use the App. Now that AI owns the em dash, what will future generations make of Emily Dickinson and her love of them? Has she been fed to the machine, too? Will they love her less? Are we being gradually locked out of language? Does it matter anymore?

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For two decades, data centers were relatively safe, lucrative real estate investments. They attracted investors because they served as digital infrastructure — the essential plumbing that keeps the internet running. The growth of artificial intelligence (AI) and its increased demands on computing power has meant data centre builders are in a race to build out […]
The post Australia’s NextDC stock collapse fires a global AI warning appeared first on Asia Times.
The Council of the European Union adopted its negotiating position on Wednesday, 21st October, clearing the way for negotiations with the European Parliament once MEPs establish their position.
The measures form part of the European Commission’s Digital Omnibus package, introduced in November 2025, and represent one of Brussels’ most substantial attempts to simplify the regulatory obligations imposed on businesses operating across the single market.
The proposed reforms would modify several provisions of the GDPR, which has governed the processing of personal data across the EU since May 2018.
Rather than replacing the legislation, the Council wants to clarify existing obligations, particularly those concerning pseudonymised information, requests for access to personal data and the use of information in scientific research.
The agreed position retains the existing definition of personal data while introducing provisions intended to clarify when pseudonymised information can be linked to an identifiable individual.
Companies would also benefit from simplified procedures for handling manifestly unfounded or excessive data requests and from reduced information requirements in certain low-risk circumstances.
Another proposed change would extend the deadline for notifying authorities of personal data breaches, while establishing more consistent reporting templates across the EU.
For multinational companies, which currently navigate different interpretations of data protection obligations by national authorities, these provisions could reduce compliance costs and administrative duplication.
However, the changes have raised concerns among European privacy regulators.
In a joint opinion published in February, the European Data Protection Board and European Data Protection Supervisor warned that parts of the Commission’s original proposal could create legal uncertainty and undermine existing protections.
They were particularly concerned about proposals affecting the definition of personal data and the Commission’s potential role in determining when pseudonymised information falls outside GDPR requirements.
The Council’s decision to retain the existing definition addresses part of that debate, although the final legislative text remains subject to negotiations.
One of the most visible changes would affect the consent notices encountered by Europeans when visiting websites.
Under the Council’s proposal, additional categories of cookies and similar tracking technologies could be used without obtaining explicit consent, provided the relevant legal conditions are satisfied.
The proposed exemptions include technologies necessary to deliver a service, maintain device security or conduct audience measurement.
For website operators, publishers and online businesses, the changes could reduce the number of consent requests displayed to visitors and simplify technical compliance.
The current system has generated extensive legal disputes over whether consent is genuinely voluntary and whether tracking technologies collect information beyond what users have authorised.
EU Today has previously examined the enforcement of these obligations, including a Belgian court ruling concerning the legality of the advertising industry’s consent framework.
The latest proposal would not abolish consent requirements for commercial tracking or behavioural advertising. Technologies falling outside the permitted exemptions would remain subject to the applicable privacy rules.
The package also addresses the growing number of reporting obligations imposed on European businesses under overlapping cybersecurity legislation.
The Commission originally proposed a single European reporting mechanism for certain data and cybersecurity incidents.
Member states have instead agreed to establish national entry points, supported by an EU-level information system and provisions for coordinating cross-border notifications.
The Council’s position would also clarify the legal grounds for certain uses of personal data in artificial intelligence systems and introduce safeguards for processing sensitive information in specified circumstances.
These provisions follow increasingly complicated disputes over the application of European privacy legislation to AI development and automated decision-making.
As EU Today reported in its coverage of a major GDPR enforcement case involving Uber, automated processing already presents substantial compliance risks for companies operating within the bloc.
The Commission estimates that its wider digital simplification initiative could save European businesses up to €5 billion in administrative costs by 2029.
The initiative reflects pressure from European governments and business organisations to reduce the regulatory fragmentation that makes operating across multiple EU jurisdictions more expensive.
The Digital Omnibus is part of a broader legislative programme influenced by the competitiveness reports produced by former Italian prime ministers Enrico Letta and Mario Draghi.
Under the Council’s negotiating mandate, several existing data-related rules would also be consolidated, while provisions governing the protection of trade secrets would be strengthened.
The European Parliament must now determine its negotiating position before formal discussions between the institutions can begin. Until the legislation is agreed and adopted, existing GDPR, cookie consent and cybersecurity requirements remain in force.

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