The US gets a downgrade while President Biden gets Cancer

19-05-2025

The Credit Ratings Agency Moody’s has downgraded the US credit rating from triple A to AA1 due to unsustainable debt levels. Joe Biden reportedly has an “aggressive form” of prostate cancer and has received numerous endorsements from Trump and Harris. Uber is unsustainable d ready to launch driverless cars now in the UK. All this and more in today’s Read It And Eat”

• Major Headlines 

• Moody’s downgrades US credit rating to Aa1 from Aaa

• Moody’s Ratings has downgraded the United States' long-term credit rating to Aa1 from Aaa, citing a sustained rise in debt and interest costs over the past decade. The agency highlighted that repeated fiscal deficits, growing entitlement spending, and lack of political consensus to reverse the trend are driving the downgrade. Despite the cut, Moody’s changed the outlook to “stable”, pointing to the resilience of the US economy, the role of the dollar as a global reserve currency, and the effectiveness of the Federal Reserve. The downgrade underscores long-term fiscal deterioration rather than immediate financial risk. The US retains its Aaa local- and foreign-currency ceilings, reflecting low risk of payment crises and strong institutional frameworks. Moody's Rating

  
  

• Biden Diagnosed With Aggressive Prostate Cancer

• Former President Joe Biden has been diagnosed with Stage 4 prostate cancer, characterized by a Gleason score of 9 and metastasis to the bone, his office confirmed Sunday. The disease, while serious, is hormone-sensitive, meaning it can be managed with treatments that block testosterone. Experts say men with similar diagnoses can live for 5–10 years or more. Biden, at 82, had stepped down earlier this year, pressured by concerns over his age and health. The diagnosis came after urinary symptoms revealed a small prostate nodule. “Survival rates have almost tripled in the last decade,” said Dr. Judd Moul of Duke University. He added that many men now manage the disease through advanced hormone therapies rather than surgery. Support poured in from political figures including Donald Trump and Kamala Harris. Trump wrote, “We wish Joe a fast and successful recovery.” Harris added that Biden would face the challenge “with strength and resilience.” News York Times 

  
  
  
  

• NJ Transit Strike Ends, Trains Resume Tuesday

• New Jersey Transit reached a tentative wage deal with striking engineers on Sunday, ending a three-day rail strike that disrupted commuter travel across the state. While engineers initially aimed to return Monday, service won’t resume until Tuesday to allow inspections and system checks. NJ Transit will continue its contingency plan on Monday, urging remote work where possible. Reuters

  
  

• Nvidia Unveils New Tech to Sustain AI Dominance

• At Computex in Taiwan, Nvidia CEO Jensen Huang revealed the next wave of AI-focused innovations — from upgraded Grace Blackwell chips arriving Q3 to a new RTX Pro Server with 4x the performance of previous systems. Nvidia is expanding its ecosystem, allowing data center clients to mix and match CPUs and AI chips. New partnerships with Qualcomm, Fujitsu, and others aim to keep Nvidia central to the AI boom. Bloomberg 

  
  

• Minor Headlines 

  
  

• Alibaba Shares Fall over AI deal with Apple facing U.S. scrutiny – Bloomberg

  
  

• Thailand Launches Trade Protection Measures amid global tensions – Bloomberg 

  
  

• UK Proceeds With Buy-Now, Pay-Later Regulation Plans put a sentence that would it affect Klarna from where it chooses to list? – Bloomberg 

  
  

• MIT Disavows AI Productivity Paper from PhD student – Techcrunch 

  
  

• Epic Games Urges Court To Force Apple To Reinstate Fortnite –  Techcrunch 

  
  

• Grok Blames “Programming Error” After Holocaust Death Toll Comments – Techcrunch 

  
  

• Microsoft’s Satya Nadella is choosing chatbots over podcasts — Techcrunch 

  
  

• UK driverless cars unlikely until 2027 — but Uber says it's ready now — BBC

  
  
  
  

  Gen Z Word of the Day: Caught in 4K

  
  

  Meaning: To be caught doing something wrong, shady, or embarrassing with undeniable proof — usually in high-definition detail.

  
  

  Example: "Orano trying to quietly sell its Niger uranium assets? They just got caught in 4K."