Private equity firms are facing systemic challenges after a half-century of meteoric growth as attractive takeover targets become scarce and financing costs remain elevated while exits prove increasingly difficult. US buyout funds currently hold more than 12,000 companies that would take approximately nine years to fully distribute at current rates, according to PitchBook data.

The industry holds $1.2 trillion in dry powder and nearly a quarter of that capital was pledged at least four years ago. More than 18,000 private capital funds seek $3.3 trillion from increasingly reluctant investors, Bain estimates. Quarterly returns for US private equity funds fell from 13.5% in Q2 2021 to 0.8% in Q4 2024. Apollo President Jim Zelter described the situation as a "natural washout" at an investor conference this month. Charles Wilson of Selby Jennings added that "many PE firms are dead already, they just don't know it" and noted survival depends on how forgiving limited partners -- the entities, including pension funds and endowments, that have invested in private equity firms -- prove when firms return for new fundraising.

Customs and Border Protection collected DNA from nearly 2,000 US citizens between 2020 and 2024 and sent the samples to the FBI's CODIS crime database, according to Georgetown Law's Center on Privacy & Technology analysis of newly released government data. The collection included approximately 95 minors, some as young as 14, and travelers never charged with crimes.

Congress never authorized DNA collection from citizens, children or civil detainees. DHS has contributed 2.6 million profiles to CODIS since 2020, with 97% collected under civil rather than criminal authority. The expansion followed a 2020 Justice Department rule that revoked DHS's waiver from DNA collection requirements. Former FBI director Christopher Wray testified in 2023 that monthly DNA submissions jumped from a few thousand to 92,000, creating a backlog of 650,000 unprocessed kits. Georgetown researchers project DHS could account for one-third of CODIS by 2034. The DHS Inspector General found in 2021 that the department lacked central oversight of DNA collection.

An anonymous reader shares a report: Battered by funding cuts, bombarded by the White House and braced for demographic changes set to send enrollment into a nosedive, America's colleges and universities have spent this year in flux. But one of higher education's rituals resurfaced again on Tuesday, when U.S. News & World Report published the college rankings that many administrators obsessively track and routinely malign. And, at least in the judgment of U.S. News, all of the headline-making upheaval has so far led to ... well, a lot of stability.

Princeton University, the Massachusetts Institute of Technology and Harvard University retained the top three spots in the publisher's rankings of national universities. Stanford University kept its place at No. 4, though Yale University also joined it there. Williams College remained U.S. News's pick for the best national liberal arts college, just as Spelman College was again the top-ranked historically Black institution. In one notable change, the University of California, Berkeley, was deemed the country's top public university. But it simply switched places with its counterpart in Los Angeles.

mrspoonsi writes: The US Secret Service says it has dismantled a network of more than 300 SIM servers and 100,000 SIM cards in the New York area that were capable of crippling telecom systems.

The devices were "concentrated within 35 miles of the global meeting of the UN General Assembly now under way in New York City" and an investigation has been launched, it adds in a press statement.

The Secret Service says the dangers posed included "disabling cell phone towers, enabling denial of services attacks, and facilitating anonymous, encrypted communication between potential threat actors and criminal enterprises."

NASA has unveiled 10 new astronaut candidates drawn from over 8,000 applicants. The diverse group includes four men and six women -- pilots, scientists, and medical professionals -- who will train for future missions to the ISS, the moon, and eventually Mars. CBS News reports: This is NASA's first astronaut class with more women than men. It includes six pilots with experience in high-performance aircraft, a biomedical engineer, an anesthesiologist, a geologist and a former SpaceX launch director. Among the new astronaut candidates is 39-year-old Anna Menon, a mother of two who flew to orbit in 2024 aboard a SpaceX Crew Dragon as a private astronaut on a commercial, non-NASA flight. [...]

The other members of the 2025 astronaut class are:
- Army Chief Warrant Officer 3 Ben Bailey, 38, a graduate of the Naval Test Pilot School with more than 2,000 hours flying more than 30 different aircraft, including recent work with UH-60 Black Hawk and CH-47F Chinook helicopters.
- Lauren Edgar, 40, who holds a Ph.D. in geology from the California Institute of Technology, with experience supporting NASA's Mars exploration rovers and, more recently, serving as a deputy principal investigator with NASA's Artemis 3 moon landing mission.
- Air Force Maj. Adam Fuhrmann, 35, an Air Force Test Pilot School graduate with more than 2,100 hours flying F-16 and F-35 jets. He holds a master's degree in flight test engineering.
- Air Force Maj. Cameron Jones, 35, another graduate of Air Force Test Pilot School as well as the Air Force Weapons School with more than 1,600 hours flying high-performance aircraft, spending most of his time flying the F-22 Raptor.
- Yuri Kubo, 40, a former SpaceX launch director with a master's in electrical and computer engineering who also competed in ultimate frisbee contests.
- Rebecca Lawler, 38, a former Navy P-3 Orion pilot and experimental test pilot with more than 2,800 hours of flight time, including stints flying a NOAA hurricane hunter aircraft. She was a Naval Academy graduate and was a test pilot for United Airlines at the time of her selection.
- Imelda Muller, 34, a former undersea medical officer for the Navy with a medical degree from the University of Vermont's Robert Larner College of Medicine; she was completing her residency in anesthesia at Johns Hopkins University School of Medicine in Baltimore at the time of her astronaut selection.
- Navy Lt. Cmdr. Erin Overcash, 34, a Naval Test Pilot School graduate and an experienced F/A-18 and F/A-18F Super Hornet pilot with 249 aircraft carrier landings. She also trained with the USA Rugby Women's National Team.
- Katherine Spies, 43, a former Marine Corps AH-1 attack helicopter pilot and a graduate of the Naval Test Pilot School with more than 2,000 hours flying time. She was director of flight test engineering for Gulfstream Aerospace Corp. at the time of her astronaut selection.

The U.S. General Services Administration has approved Meta's AI system Llama for use by federal agencies, declaring that it meets government security and legal standards. Reuters reports: "It's not about currying favor," [said Josh Gruenbaum, the GSA's procurement lead, when asked whether tech executives are giving the government discounts to get President Donald Trump's approval]. "It's about that recognition of how do we all lock in arms and make this country the best country it could possibly be." Federal agencies will be able to deploy the tool to speed up contract review or more quickly solve information technology hiccups, among other tasks, he said.

The Trump administration has struck a deal requiring TikTok's algorithm to be copied, retrained, and operated in the U.S. using only U.S. user data, with Oracle auditing the system and U.S. investors forming a joint venture to oversee it. The BBC reports: It comes after President Donald Trump said a deal to prevent the app's ban in the US, unless sold by its Chinese parent company ByteDance, had been reached with China's approval. White House officials claim the deal will be a win for the app's US users and citizens. President Trump is expected to sign an executive order later this week on the proposed deal, which will set out how it will comply with US national security demands.

The order will also outline a 120-day pause to the enforcement deadline to allow the deal to close. It is unclear whether the Chinese government has approved this agreement, or begun to take regulatory steps required to deliver it. However, the White House appears confident it has secured China's approval. Data belonging to the 170m users TikTok says it has in the US is already held on Oracle servers, under an existing arrangement called Project Texas. It saw US user data siphoned off due to concerns it could fall into the hands of the Chinese government.

A senior White House official said that under President Trump's deal, the company would take on a comprehensive role in securing the entirety of the app for American users. They said this would include auditing and inspecting the source code and recommendation system underpinning the app, and rebuilding it for US users using only US user data.

Major U.S. corporations are mandating more office time but seeing minimal compliance changes. Companies now require 12% more in-office days than in early 2024, according to Work Forward data tracking 9,000 employers. Yet Americans continue working from home approximately 25% of the time, unchanged from 2023, Stanford economist Nicholas Bloom's monthly survey of 10,000 Americans shows.

The New York Times ordered opinion and newsroom staff to four days weekly starting November. Microsoft mandates three days beginning February for Pacific Northwest employees. Paramount and NBCUniversal gave staff ultimatums: commit to five and four days respectively or take buyouts. Amazon faced desk and parking shortages after its full-time mandate, temporarily backpedaling in Houston and New York. Nearly half of senior managers would accept pay cuts to work remotely, a BambooHR survey of 1,500 salaried employees found.

The US will charge companies $100,000 for each new H-1B visa starting February 2026 under Project Firewall. According to a new analysis, the fee exceeds average H-1B salaries at firms like TCS where engineers earn $105,000 annually. Previous visa costs ranged from $2,000 to $33,000. Indians hold an estimated 70% of H-1B visas. The fee eliminates five to six years of profit per engineer. Typical engineers deployed to American client sites generate $150,000 to $200,000 in annual billings at 10% operating margins, producing $15,000 to $20,000 in yearly profit. J.P. Morgan states the move "prices out the utility of H-1B as a source of labor supply." But it might not be bad for the IT giants.

Major Indian IT firms derive only 0.2% to 2.2% of their workforce from H-1B approvals after years of reducing visa dependence, according to India Dispatch. New approvals alone account for under 0.4% of headcount. Morgan Stanley estimates companies could offset 60% of the financial impact through increased offshoring and selective price increases. The net damage to operating profit would stay contained at around 50 basis points or a 3% to 4% hit to earnings spread across the renewal cycle. Companies plan to accelerate geographic arbitrage by routing more work to India, Canada, and Latin America. Firms can maintain their existing visa holder base while letting normal turnover occur over three to six years.

A July combat training exercise involved a satellite dish-style antenna that "could fire enough electromagnetic energy to fry the satellite 22,000 miles away," reports the Washington Post. But "Instead, the salvo would be more covert — millisecond pulses of energy that would subtly disrupt the satellite's signals, which U.S. military forces were using to communicate in the Pacific Ocean." The goal was to disguise the strike as a garbled connection that could be easily remedied by securing a loose cable or a simple reboot, leaving U.S. service members frustrated without raising their suspicions. [And using less power "would make it harder for the Blue Team to track where the interference was coming from."] This is how the next war could start: invisible shots fired in space on the electromagnetic spectrum that could render U.S. fighter jets and aircraft carriers deaf and blind, unable to communicate. In this case, the "aggressors" targeting the U.S. satellite were not from China or Russia, but rather an elite squadron of U.S. Space Force Guardians mimicking how potential adversaries would act in a conflict that begins in orbit... Involving more than 700 service members and spanning 50 million square miles and six time zones, the training exercise, called Resolute Space, was observed firsthand exclusively by The Washington Post.
The article describes leadership at the U.S. Space Force "still honing their mission while jousting with adversaries, such as China, that are moving quickly and conducting combat-like operations in orbit... While the Space Force continues to evolve, many defense analysts and some members of Congress fear the United States has already ceded its dominance in space to China and others." With a budget of just $40 billion, the relatively tiny Space Force makes up just about 4 percent of the Defense Department's budget and less than 1 percent of its personnel. It has more than 15,000 Guardians, which also includes several thousand civilians. By comparison, the Army has nearly 1 million soldiers. The Space Force has been squeezed under the department of the Air Force and struggled to distinguish itself from the other branches...

China, Russia and others have demonstrated that they can take out or interfere with the satellites operated by the Pentagon and intelligence agencies that provide the nation's missile warning and tracking, reconnaissance and communications. China in particular has moved rapidly to build an arsenal of space-based weapons... [R]ecently, several of China's satellites have engaged in what Space Force officials have called "dogfighting," jousting with U.S. satellites at high speeds and close ranges.

The Washington Post: The Trump administration unveiled a new crackdown Friday on journalists at the Pentagon, saying it will require them to pledge they won't gather any information - even unclassified - that hasn't been expressly authorized for release, and will revoke the press credentials of those who do not obey.

Under the policy, the Pentagon may revoke press passes for anyone it deems a security threat. Possessing confidential or unauthorized information, under the new rules, would be grounds for a journalist't press pass to be revoked.

"DoW remains committed to transparency to promote accountability and public trust," the document says, using an acronym for the newly rebranded Department of War. "However, DoW information must be approved for public release by an appropriate authorizing official before it is released, even if it is unclassified."

For months, Defense Secretary Pete Hegseth and his staff have been tightening restrictions on Pentagon reporters while limiting military personnel's direct communication with the press. Like many defense secretaries before him, Hegseth has been deeply irritated by leaks. His staff this year threatened to use polygraph tests to stop people from leaking information, until the White House intervened.

Just days after federal data revealed average reading, math and science scores dropped among certain grades since before the coronavirus pandemic, a U.S. Senate panel on Thursday picked apart the root causes and methods for students' academic improvement. From a report: The hearing in the Senate Committee on Health, Education, Labor and Pensions centered on the "state of K-12 education" -- which GOP members on the committee described as "troubling" -- in light of recent data from the National Assessment of Educational Progress, or NAEP.

NAEP, regarded as the gold standard for tracking students' academic performance, showed that average science scores for eighth-graders decreased by 4 points since before the pandemic, in 2019. Average math and reading scores for 12th-graders also fell 3 points between 2019 and 2024. The assessments were administered between January and March of 2024. Results also showed that just one-third of 12th-graders are considered academically prepared for college in math -- a drop from 37% in 2019.

The committee's chair, Sen. Bill Cassidy, said "it should concern us that children's reading, math and science scores have yet to recover to pre-pandemic levels." The Louisiana Republican added that "success in education is not determined by how much we spend, but by who makes the decision and how wisely resources are directed," and "when states and local communities are empowered to tailor solutions to meet the unique needs of students, innovation follows." On the other hand, Sen. Bernie Sanders, ranking member of the panel, said that "while we focus on education -- as important as that is -- we also have to focus on the conditions under which our children are living."

Gallup: A record-low 35% of Americans are satisfied with the quality of education that K-12 students receive in the U.S. today, marking an eight-percentage-point decline since last year. This is one point below the previous historical low recorded in 2000 and 2023 for this Gallup question that dates back to 1999.

Several other ratings of the U.S. K-12 education system provide a similarly bleak assessment. Only about one-quarter of Americans think K-12 schools are headed in the right direction, while just one in five rate them as "excellent" or "good" at preparing students for today's jobs and one in three say the same for college.

Yet, parents of current K-12 students are nearly twice as satisfied with their own child's education as they are with education in the U.S. K-12 parents are also slightly more likely than U.S. adults in general to rate different aspects of education positively, including the direction of education in the U.S. and schools' preparation of students for the workforce and for college. Still, none of these ratings is near the majority level.

U.S. President Donald Trump plans to impose a new $100,000 application fee for H-1B worker visas, a White House official said, potentially dealing a big blow to the technology sector that relies heavily on skilled workers from India and China. From a report: As part of his broader immigration crackdown, the Republican president was expected to sign a proclamation as early as Friday restricting entry under the H-1B visa program unless the application fee is paid, the official said.

The H-1B program has become critical for technology and staffing companies who rely on foreign workers to fill a variety of technical roles. Amazon had over 10,000 H-1B visas approved in the first half of 2025, while Microsoft and Meta had over 5,000 H-1B visa approvals each, according to U.S. Citizenship and Immigration Services. Roughly two-thirds of jobs secured through the visa program are computer-related, according to U.S. government figures, but employers also use the visa to bring in engineers, educators and healthcare workers.

Key takeaways from a new survey by Pew Research: 1. Americans are much more concerned than excited about the increased use of AI in daily life, with a majority saying they want more control over how AI is used in their lives.
2. Far larger shares say AI will erode than improve people's ability to think creatively and form meaningful relationships.
3. At the same time, a majority is open to letting AI assist them with day-to-day tasks and activities.
4. Most Americans don't support AI playing a role in personal matters such as religion or matchmaking. They're more open to AI for heavy data analysis, such as for weather forecasting and developing new medicines.
5. Americans feel strongly that it's important to be able to tell if pictures, videos or text were made by AI or by humans. Yet many don't trust their own ability to spot AI-generated content.

Anthropic has declined requests from federal law enforcement contractors to use its Claude AI models for surveillance activities, deepening tensions with the Trump administration, Semafor reported Wednesday, citing two senior officials. The company's usage policies prohibit domestic surveillance, limiting how agencies including the FBI, Secret Service, and Immigration and Customs Enforcement can deploy its technology. While Anthropic maintains a $1 contract with federal agencies through AWS GovCloud and works with the Department of Defense on non-weapons applications, administration officials said the restrictions amount to making moral judgments about law enforcement operations.

An anonymous reader quotes a report from Ars Technica: As Jonathan Roll neared completion of a master's degree in science and technology policy at Arizona State University three years ago, he did some research into recent developments by China's ascendant space program. He came away impressed by the country's growing ambitions. Now a full-time research analyst at the university, Roll was recently asked to take a deeper dive into Chinese space plans. "I thought I had a pretty good read on this when I was finishing grad school," Roll told Ars. "That almost everything needed to be updated, or had changed three years later, was pretty scary. On all these fronts, they've made pretty significant progress. They are taking all of the cues from our Western system about what's really galvanized innovation, and they are off to the races with it."

Roll is the co-author of a new report, titled "Redshift," on the acceleration of China's commercial and civil space activities and the threat these pose to similar efforts in the United States. Published on Tuesday, the report was sponsored by the US-based Commercial Space Federation, which advocates for the country's commercial space industry. It is a sobering read and comes as China not only projects to land humans on the lunar surface before the US can return, but also is advancing across several spaceflight fronts to challenge America. "The trend line is unmistakable," the report states. "China is not only racing to catch up -- it is setting pace, deregulating, and, at times, redefining what leadership looks like on and above Earth. This new space race will not be won with a single breakthrough or headline achievement, but with sustained commitment, clear-eyed vigilance, and a willingness to adapt over decades." "The key takeaway here is that there is an acceleration," said Dave Cavossa, president of the Commercial Spaceflight Federation. "The United States is still ahead today in a lot of areas in space. But the Chinese are advancing very quickly and poised to overtake us in the next five to 10 years if we don't do something."

"There's other things along the lines of budget battles," Cavossa said. "We don't want to see the US government scaling back its reliance on commercial satellite communications. We don't want to see them scaling back commercial remote sensing data buys, which is what they've been doing, or at least threatening to do. We want to make sure that there's a seamless transition from the ISS to commercial LEO destinations, and then a transition away from old programs of record to commercial transportation alternatives. That's what the US government can do and Congress can do here in the next couple of years to make sure that we stay ahead."

The FTC is investigating whether Ticketmaster is doing enough to prevent bots from illegally reselling tickets on its platform, with a decision on the matter coming within weeks, according to Bloomberg (paywalled). Reuters reports: The 2016 law prohibits the use of bots and other methods to bypass ticket purchase limits set by online sellers. As part of the probe, FTC investigators are assessing whether Ticketmaster has a financial incentive to allow resellers to circumvent its ticket limit rules, according to the report. A settlement is also possible, Bloomberg reported. If the FTC pursues a case and Live Nation loses, the company could face billions of dollars in penalties, as the law permits fines of up to $53,000 per violation.

404 Media: A data broker owned by the country's major airlines, including American Airlines, United and Delta, is selling access to five billion plane ticketing records to the government for warrantless searching and monitoring of peoples' movements, including by the FBI, Secret Service, ICE, and many other agencies, according to a new contract and other records reviewed by 404 Media.

The contract provides new insight into the scale of the sale of passengers' data by the Airlines Reporting Corporation (ARC), the airlines-owned data broker. The contract shows ARC's data includes information related to more than 270 carriers and is sourced through more than 12,800 travel agencies. ARC has previously told the government to not reveal to the public where this passenger data came from, which includes peoples' names, full flight itineraries, and financial details.

"Americans' privacy rights shouldn't depend on whether they bought their tickets directly from the airline or via a travel agency. ARC's sale of data to U.S. government agencies is yet another example of why Congress needs to close the data broker loophole by passing my bipartisan bill, the Fourth Amendment Is Not For Sale Act," Senator Ron Wyden told 404 Media in a statement.

Treasury Secretary Scott Bessent announced that the U.S. and China have reached a tentative "framework" agreement on TikTok's U.S. operations, with Presidents Trump and Xi set to finalize details Friday. "It's between two private parties, but the commercial terms have been agreed upon," he said. The update comes two days before TikTok parent company ByteDance faces a Sept. 17 deadline to divest the platform's U.S. business or potentially be shut down in the country. The deadline may need to be pushed back yet again to get the deal signed. CNBC reports: Both President Donald Trump and Chinese President Xi Jinping will meet Friday to discuss the terms. Trump also said in a Truth Social post Monday that a deal was reached "on a 'certain' company that young people in our Country very much wanted to save."

Bessent indicated the framework could pivot the platform to U.S.-controlled ownership. China's lead trade negotiator, Li Chenggang, confirmed the framework deal was in place and said the U.S. should not continue to suppress Chinese companies, according to Reuters.