World Bank cuts global growth forecast for 2025 to 2.3%
In its latest report, World Bank reduces growth projections for nearly 70% of economies, including the U.S., China, and Europe
Mexico’s central bank expected to cut rates again in June
Inflation climbs to 4.42% in May, its highest level since November, while core inflation rises to 4.06%, the highest in almost a year
Meta rolls out direct messaging on Threads in select markets
Messages on Threads will not be encrypted for now
Apple receives 6 million rouble fine from Russian court for LGBT content violations
The court issues the fine in two civil cases, each resulting in a 3 million rouble penalty
US, China reach deal to ease export curbs, keep tariff truce alive
Deal aims to keep Geneva trade truce on track; Trump, Xi to review framework agreement, officials say
Dollar holds steady as U.S.-China trade talks continue
Dollar edges up to 144.68 yen, sterling falls by 0.4% to $1.3499, euro inches up to $1.1432, while Australian dollar rises by 0.1% to $0.6527
Oil prices rise as U.S.-China trade talks continue
Brent crude is up 23 cents to $67.27 a barrel, and U.S. West Texas Intermediate crude increases 17 cents to $65.46
Trade talks with China going well on second day, says U.S. Commerce Secretary
The current round focuses on resolving issues related to rare earth exports and U.S. export controls on high-tech goods
Mexico to rule on Google’s alleged ad monopoly by June 17
The case could result in a fine of up to 8% of Google’s annual revenue in Mexico, according to public records
Netflix to invest over $1.14 billion in Spain until 2029, says co-CEO
Co-CEO Netflix Ted Sarandos says that company’s investment would support the Spanish audiovisual sector
IBM plans practical quantum computer by 2029
IBM outlines its technical path, including a new machine named Starling, which it will construct at a new data center in New York
Huawei admits its chips are one generation behind U.S. but performance is improving
Huawei CEO says company invests 180 billion yuan in research each year and sees potential in compound chips made from multiple elements
Chinese state media urges crackdown on zero-mileage car sales
The paper criticizes the so-called “zero-mileage used cars” strategy, where unsold new vehicles are registered as used to offer heavy discounts
Apple opens core AI model to third-party developers
Apple says it will allow developers to access the foundational AI model that powers some of its features
U.S. Trade Representative revises fees for non-U.S.-built LNG tankers, car carriers
The USTR revised fees are to support domestic shipbuilding and counter China’s maritime influence