Beijing’s blocking of Meta’s plan to buy Chinese AI startup Manus is already forcing a rethink among tech entrepreneurs who have ties to both China and the US. The move highlights the intensifying battle between the superpowers for AI dominance, and could factor into a planned summit between the countries’ ...
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Trump faces deepening pressure on rising costsTrump faces deepening pressure on rising costs
US President Donald Trump is facing deepening pressure over rising costs stemming from a Strait of Hormuz stalemate. US gas prices on Tuesday hit their highest level in four years, while a new Reuters poll showed Trump’s approval rating sank to the lowest point of his second term, driven by ...
King Charles III champions US-UK ties in bold address to CongressKing Charles III champions US-UK ties in bold address to Congress
King Charles III championed the US-UK relationship during an address to Congress on Tuesday, calling on the two nations to “rededicate ourselves to each other.” In a “startlingly bold speech by any royal standards,” a Financial Times editor wrote, Charles also praised NATO and backed Ukraine — two issues over ...
Mexico arrests cartel leader amid widening gang crackdownMexico arrests cartel leader amid widening gang crackdown
Mexico’s military arrested a top cartel leader in a raid involving more than 500 troops, the country’s security minister announced on Monday, as President Claudia Sheinbaum intensifies her gang crackdown. Audias Flores Silva’s capture is the latest blow to the Jalisco New Generation Cartel, whose leader was killed during a ...
BYD profits plunge on domestic price warsBYD profits plunge on domestic price wars
Chinese EV giant BYD on Tuesday reported its lowest quarterly profit in three years as low demand at home weighed on sales. The company’s earnings underscored the toll of a yearslong price war in China’s auto sector, which has yet to abate — BYD’s discounts in March hit their highest ...
FCC to challenge ABC broadcast licensesFCC to challenge ABC broadcast licenses
The Federal Communications Commission is moving toward a review of Disney’s broadcast licenses, according to people familiar with the matter, a maneuver that would up the pressure on the ABC owner as it faces fierce scrutiny from the administration — again — over a late night monologue. The FCC may ...
UAE’s Saudi schism deepens with move to quit OPECUAE’s Saudi schism deepens with move to quit OPEC
Matthew’s view The UAE’s announcement that it will quit the Organization of Petroleum Exporting Countries — a group that it has been a member of since 1967 — is a blow to the cartel, which has struggled in recent years to maintain unity. Certainly, in the short term, its announcement ...
We’re in the ‘call me, maybe’ era of M&AWe’re in the ‘call me, maybe’ era of M&A
Rohan’s view Deal talks used to be closely held secrets, discussed in backrooms of steakhouses or during late Sunday night board calls. No longer. We’re now in the “call me, maybe” era of dealmaking. See United Airlines CEO Scott Kirby publicly making the case Monday for buying American Airlines. Or ...
Treasury directs banks to steer clear of China’s ‘teapot’ refineriesTreasury directs banks to steer clear of China’s ‘teapot’ refineries
The Scoop The Treasury Department on Tuesday will direct financial institutions to keep additional distance from transactions on behalf of Chinese “teapot” oil refineries, independent facilities that play a key role in importing and refining Iranian fuel. Treasury’s Office of Foreign Assets Control has already imposed sanctions on five of ...
The UAE’s OPEC exit is no surpriseThe UAE’s OPEC exit is no surprise
Wael’s view The UAE said today it would leave OPEC and OPEC+, effective May 1. Shock is the word most news reports have reached for. It shouldn’t be. This moment has been building for almost a decade. Abu Dhabi disagrees with OPEC’s quota system which didn’t keep pace with the ...