The Big Picture by PS editors
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UnitedHealth’s stock rallies on improved outlook for the year
UnitedHealth’s leadership pointed to “product design changes, improved medical management and better aligned pricing.”
Did you mess up on your taxes? The IRS just made it easier to avoid paying a penalty.
It’s a ‘major taxpayer win,’ according to one advocate inside the IRS
AI Premium — by Nicola Borri, Aleh Tsyvinski, Yukun Liu
Using 380 trillion tokens of realized AI consumption across more than four hundred large language models from the licensed proprietary OpenRouter dataset covering approximately 2 percent of current global monthly AI token consumption, we analyze how AI affects firms, markets, and workers. Leveraging the unprecedented size, scope and granularity of this data, we construct the…
Trump says Netanyahu won’t be arrested despite Mamdani threat
Israel’s Prime Minister Benjamin Netanyahu gives a news conference in Jerusalem on June 15, 2026. Ronen Zvulun | AFP | Getty Images President Donald Trump said Monday that Israeli Prime Minister Benjamin Netanyahu “will not be arrested” when he visits New York in September, pushing back on a suggestion by Mayor Zohran Mamdani that such…
Saudi Arabia has a new, and pricier, workaround to export its oil
Loadings at a Mediterranean port have picked up as Saudi Arabia races to offer its oil to buyers through a lengthier — and more expensive — backdoor.
Looking for a Non-Injurious Plan to Regulate AI | American Enterprise Institute
Sometimes the great verities are pretty straightforward. For example, “If something cannot go on forever, it will stop,” an observation made famous by economist Herb Stein. Let’s stick with that one, given its sensible application to the Trump administration’s current quasi-licensing regime for frontier AI models. The effort has proven to be a vibey, ad…
In just a few years, AI has become a cornerstone of the United States and global economies. AI-related companies have gained some $27 trillion in market value since November 2022, and just seven tech firms are expected to channel $725 billion toward capital expenditures this year, primarily on data centers and AI infrastructure. But such investments are largely circular and increasingly debt-financed, and revenues remain highly speculative.