Biden’s AI chip export rules spark pushback

The Biden administration is proposing a new framework for the exporting of the advanced computer chips used to develop artificial intelligence, an attempt to balance national security concerns about the technology with the economic interests of producers and other countries.

But the framework proposed Monday raises concerns of chip industry executives who say the rules would limit access to existing chips used for video games and restrict how much access 120 countries have to the chips tied to data centers and AI development. Commerce Secretary Gina Raimondo says the framework is “critical” to preserve America’s leadership in AI and the development of AI-related computer chips. Microsoft says it can comply with the new policy.

Starbucks reverses its open-door policy

If you want to hang out or use the restroom at Starbucks, you’re going to have to buy something. Starbucks on Monday said it was reversing a long-standing policy that invited everyone into its stores.

A new code of conduct to be posted in all company-owned North American stores also bans discrimination or harassment, consumption of outside alcohol, smoking, vaping, drug use and panhandling. The company says the new rules are designed to help prioritize paying customers. They reverse a 2018 decision to open stores and restrooms to all after the highly publicized arrest of two Black men at a Philadelphia Starbucks where they’d gone for a business meeting.

Ryanair: Limit alcoholic drinks at EU airports

Ryanair is calling on European authorities to limit the sale of alcoholic beverages at airports across the continent, as the Irish airline continues legal action against a passenger who it says caused a costly flight diversion last year.

The budget airline is seeking more than $15,324 in damages over the April 2024 incident. Ryanair alleges that this passenger’s “inexcusable behavior” on a flight from Dublin to Lanzarote on the Canary Islands was so disruptive that it forced the aircraft to divert to Porto, Portugal. After announcing its civil suit against the passenger last week, Ryanair on Monday shared further details about the diversion costs. The airline also suggested a drink limit for airports across the European Union.

Oil producers post gains, Big Tech drops

U.S. stock indexes were split on Monday as gains for oil-and-gas producers helped offset drops for Nvidia and other Big Tech companies.

The S&P 500 rose 0.2% after erasing an earlier fall of 0.9%. The Dow Jones Industrial Average climbed 358 points, or 0.9%, while the weakness for Big Tech stocks dragged the Nasdaq composite to a loss of 0.4%.

Stocks have been under pressure the last month, and the S&P 500 is coming off its fourth losing week in the last five as traders cull expectations for how much relief the Federal Reserve may deliver this year through lower interest rates.

Jones-linked company doubles Infowars offer

A company linked to conspiracy theorist Alex Jones is now offering over $7 million to buy his Infowars platforms as part of Jones’ bankruptcy.

A lawyer for the trustee overseeing the bankruptcy said in court Monday that First United American Companies has more than doubled its offer since losing to The Onion satirical news outlet in a bankruptcy auction that was later voided by a judge. The Onion also is expected to submit a new offer. Infowars is being sold off to help pay families of victims of the 2012 Sandy Hook Elementary School shooting in Connecticut, who won nearly $1.5 billion in lawsuits against Jones after he called the shooting a hoax.