Wall Street rallies as Trump, Xi revive tariff talks; investors eye jobs data
Market rebounds on renewed U.S.-China engagement, but economic signals keep sentiment cautious
ECB cuts interest rates for the eighth time in a year
The new rate is now in the middle of the range the bank sees as neutral, meaning it neither boosts nor slows the economy
Walmart’s Flipkart secures approval for direct lending in India
This is the first time the Reserve Bank of India has granted a large e-commerce player in India a non-bank finance company (NBFC) licence
EU watchdog files complaint against Shein over dark patterns
These patterns include pop-ups urging users to stay for deals, countdown timers creating pressure to buy, and infinite scrolling
OpenAI reports rise in Chinese use of its AI for covert activity
The company says these groups use more tactics now, but their actions stay small and reach only a few people
Oil prices rise more than 1% after China-US leaders’ phone call
Brent crude futures increase by 1.3% to $65.71 a barrel, while U.S. West Texas Intermediate crude climbs 1.5% to $63.82 a barrel
Trump and Xi hold phone call to discuss trade tensions, says China
U.S. and China face renewed tensions over critical minerals, raising concerns that their recent trade agreement may collapse
Musk joins Senate Republicans in rejecting Trump’s new tax plan
Musk says a new spending bill should be written that does not increase the deficit
Amazon uses AI to improve warehouse robots and delivery
Amazon announces it is forming a new group at its Lab126 device unit to develop warehouse robots that can perform multiple tasks
Apple loses appeal to pause app store competition order in Epic Games case
Judge says Apple tried to avoid her order by setting new rules, including a 27% fee on outside app purchases
Ukraine discusses steps to activate U.S.-backed minerals fund
First meeting of Ukraine-U.S. minerals fund set for July says Ukraine’s First Deputy Prime Minister Yulia Svyrydenko
US aviation administrator says it will not lift 737 MAX production cap
Agency is not planning to change its policy of inspecting all Boeing 737 MAX and 787 jets before issuing airworthiness certificates, says acting FAA chief
Reddit accuses AI startup Anthropic of scraping site data without permission
Reddit says Anthropic has refused to enter into a licensing agreement, unlike other AI companies such as Google and OpenAI
Google to deploy 14,800-kilometer data cable linking Chile with Asia
Chilean officials estimate the project will cost between $300 million and $550 million, with Chile contributing $25 million
AI-driven search ad spending in US to reach $26 billion by 2029
AI search ad spending is expected to make up nearly 1% of total search ad spending this year and grow to 13.6% by 2029 in the U.S.