Google Looks to Reduce Staff Costs as it Ramps Up AI Spending
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US and Chinese negotiators have wrapped up two days of intense trade talks here in London. They said they've agreed to a framework to get their truce back on track and ratchet down tensions between the two biggest economies. That framework essentially restores a deal representatives agreed to in Switzerland last month, including on the key issues of rare earth minerals.

Los Angeles has imposed a curfew across parts of the city's downtown area after days of escalating protests over immigration enforcement in California. The curfew is expected to last several days and comes after President Trump condemned the protesters as, quote, animals and professional agitators.

Serving as Trump's antagonist in this political storm is California Governor Gavin Newsom. In a televised address yesterday evening, Newsom said that President Trump's deployments of the U.S. Marines in California was an authoritarian overreach.

And Google has extended voluntary buyout offers to US employees in multiple divisions, including its search and advertising units, one of a number of cost-cutting steps it's made to help fund billions in AI spending. Google is expected to spend $75 billion on capital expenditure this year, compared with $52.5 billion in 2024. It's ramping up spending to compete with the likes of ChatGPT and other applications,

AI competitors that threaten to erode its search dominance.

Stock markets in Asia ended the day higher. European markets are also up in midday trading. And US stock futures are down ahead of today's CPI report due out at 8.30am Eastern. And we have a lot more coverage of the day's news on The Wall Street Journal's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.