Today’s topics

• Google's AI-powered trip planning

• Amazon's record investment in AI startup

• Robinhood debuts its Gold Card, taking on Apple Card

• New $15 toll to enter Manhattan

• A "negative leap second" may be needed around 2029

  and more…

Thursday witnessed the S&P 500 achieving its most impressive first-quarter growth in five years, with the broad market index ticking up by 0.11% to close at 5,254.35. The Dow Jones also saw a modest increase, rising 47.29 points, or 0.12%, to close at 39,807.37. Both indices notched record highs, with the S&P 500 even setting a new all-time peak during the day's trading. On the flip side, the Nasdaq experienced a slight decline, edging down by 0.12% to conclude at 16,379.46.

Adam Neumann's $500M bid for WeWork. Adam Neumann wants his company back and offers over $500 million to acquire WeWork out of bankruptcy, with the potential to increase the bid to $900 million pending due diligence. This resurgence of interest comes after Neumann's earlier departure from the company five years ago.

Robinhood's Gold Card is rivalling Apple. Robinhood debuts its Gold Card, taking on Apple Card with a twist: users can invest their cash-back rewards directly into brokerage accounts. The card offers enticing features, including 3% cash back on all categories and 5% cash back on travel bookings via Robinhood's portal. The absence of annual or foreign transaction fees adds to its appeal, but access is limited to Robinhood Gold members, priced at $5 monthly or $50 annually. 

Apple WWDC 2024

Apple sets the stage for its annual Worldwide Developers Conference (WWDC), which will be held online from June 10 to 14, 2024. However, developers and students will have a chance to attend an in-person celebration at Apple Park on the opening day.

Amazon's record investment: $2.75B boost for AI startup. Amazon is set to make its largest outside investment, injecting $2.75 billion into San Francisco-based startup Anthropic. Anthropic, a frontrunner in generative artificial intelligence, is renowned for its foundation model and chatbot Claude, which are challenging giants like OpenAI and ChatGPT. This follows an initial $1.25 billion investment in September, part of Amazon's plan to invest up to $4 billion in Anthropic.

Google introduces an update to its Search Generative Experience (SGE), empowering users to craft travel itineraries and trip ideas with AI assistance. This feature, currently available in English in the U.S., gathers insights from various web sources, user reviews, and submitted photos to curate personalised travel plans worldwide.

Wait a Second! Earth's Speed-Up May Nudge Clocks Back

Earth's accelerated spin could prompt a first-time adjustment in global clocks, subtracting 1 second in the coming years. A "negative leap second" may be needed around 2029 due to the planet's faster rotation. 

MTA approves $15 toll to enter Manhattan. New York City strides towards implementing congestion pricing as the Metropolitan Transportation Authority (MTA) board approves a $15 toll to enter Manhattan. Despite legal challenges from six lawsuits, the program aims to reduce car usage and boost mass transit by charging tolls to drive into Midtown and Lower Manhattan.

Cargo ship took down a bridge. Despite efforts to avert disaster, the 95,000 gross-ton Dali cargo ship collided with Baltimore's Francis Scott Key Bridge piling, causing sections of the span to buckle and snap. Governor Wes Moore praises responders as "heroes," acknowledging their efforts in saving lives.

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