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2025-07-17 13:55:03| Fast Company

The Trump administration revoked federal funding for California’s high-speed rail project on Wednesday, intensifying uncertainty about how the state will make good on its long-delayed promise of building a bullet train to shuttle riders between San Francisco and Los Angeles.The U.S. Transportation Department announced it was pulling back $4 billion in funding for the project, weeks after signaling it would do so. Overall, a little less than a quarter of the project’s funding has come from the federal government. The rest has come from the state, mainly through a voter-approved bond and money from its cap-and-trade program.President Donald Trump and Transportation Secretary Sean Duffy both have slammed the project as a “train to nowhere.”“The Railroad we were promised still does not exist, and never will,” Trump wrote on Truth Social. “This project was Severely Overpriced, Overregulated, and NEVER DELIVERED.”The loss marks the latest blow to California by the Trump administration, which has blocked a first-in-the-nation rule to phase out the sale of new gas-powered cars, launched investigations into university admission policies and threatened to pull funding over transgender girls being allowed to compete in girls sports.It also comes as rail project leaders are seeking private investment to help pay for its estimated price tag of more than $100 billion.Voters first approved the project in 2008 and it was supposed to be operating this decade. But cost estimates have consistently grown and its timeline pushed back.State officials are now focused on building a 119-mile (192-kilometer) stretch connecting the Central Valley cities of Bakersfield and Merced that is set to be operating by 2033. The California High Speed Rail Authority is slated to release a report this summer to state lawmakers with an updated funding plan and timeline for the project.Authority officials wrote in a letter earlier this month that the Trump administration made up its mind about revoking funding before thoroughly reviewing the project. They noted that more than 50 structures have already been built, including underpasses, viaducts and bridges to separate the rail line from roadways for safety.“Canceling these grants without cause isn’t just wrong it’s illegal,” authority CEO Ian Choudri said in a statement Wednesday. “These are legally binding agreements, and the Authority has met every obligation, as confirmed by repeated federal reviews, as recently as February 2025.”The authority has asked potential private investors to express their interest by the end of the month.Democratic Gov. Gavin Newsom said the state will keep “all options on the table” to fight the revocation of federal funds.“Trump wants to hand China the future and abandon the Central Valley. We won’t let him,” he said in a statement.The state has “no viable plan” to complete even the Central Valley segment, said Drew Feeley, acting administrator of the transportation department’s Federal Railroad Administration, in a report released last month. He called the project a “story of broken promises” and a waste of taxpayer dollars.California Democrats also have criticized project spending. Democratic Assemblymember Rebecca Bauer-Kahan said at a budget hearing earlier this year that her constituents “overwhelmingly believe” high-speed rail spending “has been irresponsible.”Newsom plans to extend the state’s cap-and-trade program, a key funding source for the project which is set to expire at the end of 2030, through 2045.The program sets a declining limit on the total amount of greenhouse gas emissions large emitters can release. Those polluters can buy allowances from the state needed to pollute, and about 45% of that money goes into what’s known as the Greenhouse Gas Reduction Fund, according to the Independent Emissions Market Advisory Committee, a group of experts that reviews the program.The fund helps pay for climate and transportation projects, including high-speed rail.The bullet train project receives 25% of the money from the fund, which ends up being a little less or a little more than $1 billion annually, depending on the year. Newsom in May proposed guaranteeing $1 billion a year for the project from the fund, but lawmakers have not agreed to that. Austin is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Follow Austin on X: @sophieadanna Sophie Austin, Associated Press/Report for America


Category: E-Commerce

 

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2025-07-17 13:13:00| Fast Company

The use of AI companions is no longer niche behavior but has become embedded in mainstream teenage life, according to a new report. A nationally representative survey of 1,060 teens ages 13 to 17, conducted in April and May 2025 by Common Sense Mediaa U.S.-based advocacy and research nonprofitfound that 72% have used AI companions at least once, and more than half qualify as regular users. Of those surveyed, 13% are daily users. For the purposes of the research, “AI companions” were defined as “digital friends or characters you can text or talk with whenever you want.” This includes apps specifically designed as AI companions, such as Character.AI, Nomi, and Replika, as well as tools like OpenAI’s ChatGPT and Anthropic’s Claude, which, though not built for companionship, are frequently used in that way. According to the survey, most teens are taking a pragmatic approach to these tools rather than treating them as replacements for real-life relationships. Nearly half said they view AI companions mainly as tools or programs, while 33% avoid them entirely. However, a third said they engage with AI companions for social interaction and relationships, including role-playing and practicing conversations. Others said theyve sought emotional support, friendship, and even romantic connections with AI. Entertainment and curiosity are the primary drivers of use among teens, though a smaller number rely on AI companions for advice, appreciating their constant availability and nonjudgmental responses. Michael Robb, head of research at Common Sense Media, expressed concern over one particular finding: 31% of teens said their conversations with AI companions are as satisfyingor more satisfyingthan those with other people. A third have discussed serious and important issues with AI companions instead of humans, and 12% said they share things they wouldnt tell friends or family. From a developmental perspective, teens are still learning the tricky and sometimes uncomfortable skills of human relationships like handling disagreements, reading subtle social cues, and learning to understand others’ perspectives, Robb tells Fast Company. AI companions are specifically designed to be agreeable and validating. They tell teens what they want to hear rather than what they might need to hear from someone in their real life. A separate safety assessment published earlier this year by Common Sense and Stanford University’s Brainstorm Lab warned that no AI companion is safe for kids younger than 18. Although most platforms technically forbid minorsexcept for Character.AI, which rates its service as safe for ages 13 and upage verification processes are often easy to bypass. For now, most teens still prefer people to bots. According to the recent report, 80% of AI companion users spend more time with real friends than with AI. Just 6% said they spend more time with AI companions than peers, while 13% spend about equal time with both. The fact that half of teens express skepticism about AI companion information shows they may be using their critical thinking, Robb says. Though additional digital literacy education could certainly make that number larger.


Category: E-Commerce

 

2025-07-17 13:00:29| Fast Company

PepsiCo reported better-than-expected earnings and revenue in the second quarter despite sluggish North American sales.Sales of Frito-Lay and other snacks fell 1% in North America during the April-June period, PepsiCo said Thursday, while beverage sales were down 2% in the region. But sales rose in some other regions, including Latin America and Asia.Revenue rose less than 1% to $22.7 billion in the April-June period. That was higher than the $22.3 billion Wall Street forecast, according to analysts polled by FactSet.PepsiCo’s net income fell 59% to $1.3 billion. Adjusted for one-time items, PepsiCo earned $2.12 per share. That was also higher than the $2.03 analysts forecast.PepsiCo shares rose more than 2% in premarket trading Thursday.PepsiCo lowered its full-year earnings expectations in April, citing increased costs from tariffs and a pullback in consumer spending. The company reaffirmed that guidance Thursday.Its tariff costs have risen since then. In June, the Trump administration hiked the tariff on imported aluminum from 25% to 50%. Dee-Ann Durbin, AP Business Writer


Category: E-Commerce

 

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