Rural demand powers India’s growth amid global uncertainty
Above-average monsoons, rising farm incomes, and strong wage growth drive rural consumption, outpacing overall economic expansion in Q4
Google to spend $500 million on compliance overhaul in antitrust case
Google will also form a SVP-level committee reporting directly to Pichai to address regulatory and compliance matters
U.S. life insurers shift $800 billion to offshore affiliates from 2019 to 2024
Offshore accounts in Bermuda and Cayman Islands help insurers free up capital, according to a Moody’s Ratings report
US asks Australia to raise defence spending to 3.5% of GDP
Prime Minister Anthony Albanese emphasizes that Australia will decide its defence priorities independently
Meta plans AI-powered ad creation and targeting by end of next year
Meta’s planned AI system lets brands submit a product image and budget, then generates full ad with targeting and budget recommendations
Starlink faces pushback over potential interference with South Africa’s SKA telescope
Scientists fear Starlink transmissions could blind them to faint celestial signals like shining a spotlight in someone’s eyes
Stablecoin firm Circle eyes $7.2 billion valuation with U.S. debut
Circle’s reserve income rises 55.1% to $557.9 million for the quarter ended March 31
Oil prices jump 4% as OPEC+ sticks to output plan for July
Brent crude futures rise $2.28, or 3.6%, to $65.06 a barrel, while U.S. West Texas Intermediate crude gains $2.99, or 4.9%, to $63.78
Dollar slips against major currencies amid trade policy concerns
Dollar drops 0.9% to 142.75 yen, nearly erasing its more than 1% gain from the prior week
Tesla new car sales surge 213% in Norway but decline 53.7% in Sweden
The boost is driven by a revamped Model Y compact SUV, which has been Norway’s best-selling car for the past three years
JetBlue CEO says partnership with United Airlines won’t lead to merger
We’ve spent a lot of time with the Department of Justice over the last five years, and we’re playing it safe, says Joanna Geraghty
Microsoft to invest $400 million in Swiss cloud and AI infrastructure
Switzerland has created one of the world’s leading innovation ecosystems, blending world-class research with real-world applications, says Microsoft Vice Chairman
China rejects Trump’s claims of Geneva trade deal breach
China’s commerce ministry says China upheld Geneva agreement, while the U.S. imposed multiple discriminatory restrictions
Tesla not interested in manufacturing in India, says Indian minister
CEO Elon Musk puts investment plans on hold, and the company’s immediate focus remains on importing vehicles into India
Aviation fuel bill to rise by $4.4 billion as sustainable fuel supply doubles in 2025
The limited availability of the cleaner fuel is creating tension between airlines, energy suppliers and aircraft manufacturers