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Cris Tolomia

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New York is halting large data center construction in the U.S.'s first statewide ban Original

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By Cris Tolomia Verified
| Quartz Verified
New York Governor Kathy Hochul signed an executive order Tuesday imposing a one-year moratorium on construction of large new data centers, making New York the first state in the country to enact such a ban. The order prohibits state agencies from approving discretionary permits for any data center drawing 50 megawatts or more of electricity. It does not affect smaller facilities serving hospitals, universities, or back-office financial operations.
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20 court cases that changed how the law works

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By Cris Tolomia Verified, Sponsored SponsoredLearn MoreUndo
| Quartz Verified
Credit: KATRIN BOLOVTSOVA / Pexels Most laws are written by legislatures, but much of what the law actually means gets decided in courtrooms. A statute or a constitution is only as clear as its most ambiguous clause, and when two parties fight over that ambiguity, a judge has to pick a meaning. The most consequential of those picks do more than resolve one dispute.
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Citigroup profit surges as record trading revenue beats every analyst estimate Original

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By Cris Tolomia Verified
| Quartz Verified
Citigroup $C on Tuesday posted second-quarter net income of $5.8 billion, or $3.15 per diluted share, clearing every analyst estimate on the strength of record equity-trading results and a sharp jump in investment banking fees that pushed quarterly revenue to its highest point in ten years. Earnings per share of $3.15 exceeded all 20 analyst estimates compiled by Bloomberg. Analysts on average expected a profit of $2.74 per share, according to Reuters.
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