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UKs Starmer hails landmark carbon capture funding [Video]

Prime Minister Keir Starmer on Friday said planned government investments of nearly 22 billion ($28.8 billion) in the capture and storage of carbon emissions marked a “landmark week” for Britain. Starmer announced the 21.7 billion investment over 25 years to support three carbon capture projects in Teesside and Merseyside in northern England. “It is a

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AI bubble or revolution? OpenAIs big payday fuels debate [Video]

Fear of missing out has rocketed the value of artificial intelligence companies, despite few signs as to when the technology will turn a profit, raising talk of AI overenthusiasm. The mystery deepens when it comes to predicting which generative AI firms will prevail, according to analysts interviewed by AFP. ChatGPT-maker OpenAI secured $6.6 billion in

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Biden’s student loan cancellation put on hold again by judge [Video]

A federal judge in Missouri put a temporary hold on President Joe Biden’s latest student loan cancellation plan on Thursday, slamming the door on hope it would move forward after another judge allowed a pause to expire.Related video above: Delinquency reports for student loan borrowers restart in OctoberJust as it briefly appeared the Biden administration would have a window to push its plan forward, U.S. District Judge Matthew Schelp in Missouri granted an injunction blocking any widespread cancellation.Six Republican-led states requested the injunction hours earlier, after a federal judge in Georgia decided not to extend a separate order blocking the plan.The states, led by Missouri’s attorney general, asked Schelp to act fast, saying the Education Department could unlawfully mass cancel up to hundreds of billions of dollars in student loans as soon as Monday. Schelp called it an easy decision.Biden’s plan has been on hold since September, when the states filed a lawsuit in Georgia arguing Biden had overstepped his legal authority. But on Thursday, U.S. District Court Judge J. Randal Hall decided not to extend the pause after finding that Georgia doesn’t have the legal right to sue in this case.Hall dismissed Georgia from the case and transferred it to Missouri, which Hall said has clear standing to challenge Biden’s plan.Proponents of student loan cancellation briefly had a glimmer of hope the plan would move forward Hall’s order was set to expire after Thursday, allowing the Education Department to finalize the rule. But Schelp’s order put the question to rest.This is yet another win for the American people, Missouri Attorney General Andrew Bailey said in a statement. The Court rightfully recognized Joe Biden and Kamala Harris cannot saddle working Americans with Ivy League debt.Bidens plan would cancel at least some student loan debt for an estimated 30 million borrowers.It would erase up to $20,000 in interest for those who have seen their original balances increase because of runaway interest. It would also provide relief to those who have been repaying their loans for 20 or 25 years, and those who went to college programs that leave graduates with high debt compared to their incomes.Video below: Older Borrowers Struggle with High Student Loan DebtBiden told the Education Department to pursue cancellation through a federal rulemaking process after the Supreme Court rejected an earlier plan using a different legal justification. That plan would have eliminated up to $20,000 for 43 million Americans.The Supreme Court rejected Bidens first proposal in a case brought by Republican states including Missouri.In his order Wednesday, Hall said Georgia failed to prove it was significantly harmed by Bidens new plan. He rejected an argument that the policy would hurt the states income tax revenue, but he found that Missouri has a strong case.Missouri is suing on behalf of MOHELA, a student loan servicer that was created by the state and is hired by the federal government to help collect student loans. In the suit, Missouri argues that cancellation would hurt MOHELA’s revenue because it’s paid based on the number of borrowers it serves.In their lawsuit, the Republican states argue that the Education Department had quietly been telling loan servicers to prepare for loan cancellation as early as Sept. 9, bypassing a typical 60-day waiting period for new federal rules to take effect.Also joining the suit are Alabama, Arkansas, Florida, North Dakota and Ohio.