Bloomberg News

Alternative coffee producers say blends made with ingredients like mushrooms and chickpeas will gain market share as regular bean supplies become more expensive due to climate change. Emma Court has more bloom.bg/3HwnCdT

The court ruling that blocked much of President Donald Trump’s sweeping tariffs threatens to blow what some economists estimate as a $2 trillion hole into the US fiscal outlook over the coming decade, should the judgment stay in place.

“I don’t see any reason why Bitcoin can’t end up being a meaningful chunk of Britain’s wealth.” Reform UK Chairman Zia Yusuf tells Kriti Gupta that Nigel Farage’s crypto plan is about modernizing the UK economy. bloom.bg/4jpQ5iM

The Supreme Court allows the Trump administration to immediately strip the legal status of 500,000 migrants

On the occasion of Elon Musk's departure from Washington, here's a new look at what was really behind some of the DOGE cuts, and how some groups suddenly deprived of their government funding managed to claw it back. In late February, two big affordable housing groups, Enterprise Community Partners and Local Initiatives Support Corporation (LISC), lost more than $60 million. By early April, they had it back. I wondered: How did they do it? It wasn't by suing. Or with big, public bipartisan letter-writing campaigns from lawmakers to the White House. The groups had to tone down their statements about the impacts of racism on access to housing and scale back what they were saying about their commitments to racial equity. See the details, including side-by-side comparisons of their websites, before and after the changes, right here ⬇️ https://lnkd.in/eyQ3Tkvg

ICYMI: "There is a huge other economy that is developing out here in states that are promoting innovation, data centers, AI, and all that goes along with that," General David H. Petraeus, US Army (Ret.) discussed investing in the Middle East amid the AI revolution at #QatarEconomicForum. ⏯️ bloom.bg/4kILI3J #منتدى_قطر_الاقتصادي

ICYMI: "Long-term I think you can expect around a million barrels a day of growth, and we really don't see the end of that," ConocoPhillips' Ryan M. Lance discusses the positive growth projections of oil demand at #QatarEconomicForum. ⏯️ bloom.bg/4jpXUFw #منتدى_قطر_الاقتصادي

new: Microsoft just revealed major AI deals during an internal meeting. Barclays and dozens of others now have 100K+ paid Copilot users. Software companies have been pushing hard to drive AI adoption. In many cases, its been tough to get enterprises using genAI tools in a meaningful way. CEO Satya Nadella said that Microsoft is closely tracking what share of customer workforces are using Copilot, the company's suite of genAI tools for the workplace. At $30 per user per month, these deals would each be worth tens of dollars per year. Though large customers typically get bulk discounts. https://lnkd.in/eM55B2cU

US consumers hit the brakes in April after the strongest month of spending since early 2023 while inflation remained tame, consistent with a slowing economy.

South Africa’s benchmark stock index is heading for its best month in almost a year, with a helping hand from China’s most valuable company. The FTSE/JSE Africa All Share Index is up more than 7% in dollar terms in May, on track for its biggest monthly gain since June last year and its best May performance since 2013. It has outperformed emerging-market peers as well as the S&P 500 and the Stoxx Europe 600. The largest contributor to the rally has been tech investor Naspers Ltd. https://lnkd.in/eaeMebUG