Oil Prices Jump 3% as price drop triggers buying
Brent crude climbs 3% to $62.03 per barrel, while U.S. West Texas Intermediate crude grows 3.2% to $58.94 per barrel
U.S. dollar weakens as trade deal optimism fades
Dollar drops 0.57% against Japanese yen, reaching 142.87, while British pound gains 0.56%, rising to $1.3371
Uber partners with Pony AI to launch robotaxis in the Middle East
Pony AI, backed by Toyota and based in Guangzhou, holds robotaxi licenses in Beijing, Shanghai, Guangzhou, and Shenzhen
Google may be forced to separate key ad-tech businesses
U.S. DOJ proposes Google offload AdX and DFP to restore competition after a judge rules it maintains ad-tech monopolies
Musk to proceed with lawsuit against OpenAI despite governance changes
OpenAI announces a new governance structure where its non-profit parent oversees the for-profit business and becomes a major shareholder
IBM plans to expand AI sales with new tools for managing AI agents
IBM’s new AI tools allow customers to build custom agents in under five minutes
Shein, Temu ramp up advertising in UK and France as US tariffs hit
Shein increases spending by 35% in France and the UK, while Temu sees a 40% and 20% month-over-month rise, respectively
Apple appeals U.S. ruling to open App Store to more competition
The appeal seeks to overturn an April 30 ruling that found Apple in contempt of a 2020 antitrust lawsuit by Epic Games
Waymo teams with Magna to build autonomous vehicles in new Arizona factory
Waymo announces plans to produce autonomous Jaguar I-PACE and Zeekr vehicles as early as this year
IMF urges China to shift from export-led growth model
Georgieva says China must address four challenges: shifting to consumption-driven growth, fixing property sector, promoting services, and reducing state's role
Apple raises $4.5 billion in bond sale to finance debt repayment
The offering includes $1.5 billion in three-year notes and $1 billion each in five, seven and 10-year maturities
OpenAI revises governance structure to retain nonprofit control
Company will work with stakeholders, including Microsoft and nonprofit commissioners, to finalize the governance, says Altman
Gulf markets mostly retreat as oil prices slide and trade tensions loom
Regional indices fall as OPEC+ supply plans pressure oil prices; Dubai gains on banking strength, while Egypt’s market slips despite corporate earnings.
TotalEnergies files for environmental approval on $16 billion green hydrogen and ammonia venture in Chile
TotalEnergies' $16 billion TEC H2 MAG project aims to position Chile as a global leader in green hydrogen, with full operations expected by 2030.
UAE mandates work permits for foreign hires in renewed labour market directive
New compliance measures aim to regulate private sector hiring and reduce illegal employment practices