Bloomberg: global business info powerhouse; data-driven news, analytics, and media. In the spotlight as tech markets wobble amid earnings and policy shifts.
President Donald Trump has threatened to impose a 100% tariff on any country that implements a digital services tax on US tech companies, saying the levy would "supersede" trade deals and be applied immediately. European officials have warned they will respond to unilateral measures; legal and practical hurdles make the timetable for any US action unclear.
Kim has described North Korean troops who fought in Kursk as heroes and patriots, including those who self-detonated or charged at the front. The remarks come as Pyongyang’s military backing of Russia is under scrutiny amid reports of heavy NK casualties, with state media framing the actions as loyalty to the party.
Spirit Airlines has not secured a government-backed rescue and is preparing for possible liquidation amid two bankruptcies and rising jet-fuel costs; the Trump administration is negotiating a potential loan and warrants, while lenders urge a wind-down if no deal is reached. Travelers face disruption and fare implications across affected routes.
The Department of Justice has filed a lawsuit to acquire about 14 acres of land in Dona Ana County, near Mount Cristo Rey, to install fencing, lighting, and surveillance near the border. The Roman Catholic Diocese of Las Cruces is contesting the seizure, arguing it burdens religious exercise and sacred use of the site, which hosts annual pilgrimages. Compulsory possession would be added to ongoing legal battles over border infrastructure.
Stellantis has unveiled a plan to roll out nine new models under $40,000 by 2030, aiming to revive US volume and stabilize margins. The move includes new Ram, Dodge, and Jeep entries, alongside cost-cutting measures after heavy investments in electrification and a prior $26 billion annual loss.
A round-up of fresh company updates shows mixed earnings across retailers and tech-adjacent firms. Pennon sees improving profit as storms and tariffs weigh on penalties; Mitie reports rising revenue and progress on strategy ahead of leadership change; S4 Capital trims job cuts while pursuing AI-driven growth; Debenhams, Macy’s, Ulta and Asda publish updates amid a churning retail landscape.
Apple has unveiled Siri AI and expanded Apple Intelligence at WWDC, promising a conversational assistant that uses personal device data and Google-powered foundation models. The company has said Siri AI will enter beta this summer with a public fall release, but regulators in the EU and China will delay availability there. Apple has emphasised privacy and private cloud compute in its rollout.
British, French and German ambassadors have met Russian officials to press for direct talks between Moscow and Kyiv after the E3 leaders backed Zelenskyy’s proposal for a face-to-face summit. Moscow has rejected meeting before a deal is agreed and continues to strike and be struck by Ukrainian long-range and drone attacks that have disrupted Russian supply lines and fuel deliveries to Crimea.
Trump faces growing political peril as Republicans fracture over strategy on Iran; Democrats push to force a U.S. withdrawal from hostilities while the public grows weary of war footing and cost.
A wave of updates across multiple outlets shows former FTX founder Sam Bankman-Fried pursuing a presidential pardon after completing his 25-year sentence, while Trump allies keep courting clemency. The reports, drawn from DOJ filings and interviews, highlight continued political leverage around the high-profile case.
Fresh data show China’s May retail sales stalled while investment contracts widen, signaling a slowdown in domestic demand. Yet exports are proving resilient thanks to AI-related demand and renewables, and industrial output edges higher, painting a nuanced picture of a faltering domestic economy still buoyed by external demand.
The White House has hosted UFC Freedom 250 on the South Lawn, a seven-bout card timed to President Trump’s 80th birthday and the US semiquincentennial. The event has drawn legal challenges, cost estimates above $60m and criticism that it blurs public property, private sponsors and presidential interests while thousands watched on the Mall and 4,000 attended on the lawn.
Solar power has for May provided more electricity than coal for the first time, reaching 12.8% vs 12.2% and signaling a lasting shift toward renewables amid policy headwinds. Emitted by Ember, SEIA and Wood Mackenzie, the data show solar remains the leading source for new power as coal declines. Trump’s plan to bolster coal faces industry pushback.
The Bureau of Labor Statistics has reported that U.S. consumer prices rose 4.2% in the 12 months through May, the fastest annual pace since April 2023, driven largely by a surge in energy and gasoline costs. Core inflation has remained cooler at 2.9%, while producers’ prices and oil-driven wholesale gains have also accelerated ahead of the Federal Reserve’s June meeting.
SpaceX has completed the largest IPO in history, raising $75 billion and listing on Nasdaq under ticker SPCX. Shares opened at $150, climbed as high as $176 and closed the first day around $160–166 in extended trading, briefly valuing the company above $2.1 trillion and making Elon Musk the world's first likely trillionaire.
SpaceX has gone public in the largest IPO in history, pushing Elon Musk toward trillionaire status as the company outlines ambitious plans—from data centers in space to lunar bases—while investors weigh the feasibility and risks amid a sprawling empire.
A federal judge has ordered the Trump administration to explain why scaffolding and a tarp remain on the Kennedy Center after workers removed President Trump’s name under a court order. The judge has demanded a status report by 31 July and has blocked the center’s planned two‑year closure while legal appeals proceed.
Negotiations mediated by Pakistan and Gulf partners point toward a virtual signing of a U.S.–Iran memorandum to end the war, with the Strait of Hormuz opening immediately afterward. Officials warn the MOU does not resolve core goals and raises security concerns for Israel and regional powers.
China has posted a contraction in retail sales and a sharper drop in urban investment in May, signaling a deepening economic slowdown even as factory output improves.Officials flag a need for technology development and stronger employment support amid a K-shaped recovery.
A Pentagon briefing has stated Grok, xAI’s AI chatbot, is used in national-security operations, including targeting in Iran. The NAACP’s lawsuit over turbine emissions at xAI’s data centers is ongoing, while lawmakers push for stricter AI controls. Other reports cover India’s sovereign AI push and broader AI race dynamics.
Recent data show remote-capable roles are more common, yet isolation and distress have grown among remote workers. New analyses suggest a third of mental-health deterioration in the last 15 years ties to remote work, while some employees gain flexibility. The debate now centers on balancing performance with well‑being.
The Federal Energy Regulatory Commission has issued region-specific orders to speed grid connections for AI-driven data centers and large energy users, aiming to balance faster power access with consumer costs. The moves target six grid regions serving over 200 million people and seek transparent cost allocation, with responses due within 60 days.
Offshore wind leases held by Invenergy are being canceled by the federal government, with reimbursements totaling $765 million. The funds will be redirected into natural gas and geothermal projects, amid a broader push to slow offshore wind development under the current administration. The moves follow earlier terminations of similar leases by TotalEnergies, Golden State Wind, and Bluepoint Wind.
Waymo is recalling nearly 3,900 robotaxis to fix software that can drive into freeway construction zones, after 13 incidents in Phoenix and the San Francisco Bay Area. The company has limited freeway driving during the fix and notes it continues to operate on surface streets.
Micron has reported fiscal third-quarter revenue of $41.46 billion and net income of $28.24 billion, sending its shares above $1 trillion in market value and sparking volatile trading in AI-related stocks. The earnings and long-term supply deals reflect surging memory demand from AI data centres, while Apple has warned rising memory costs will force price increases for consumer products.
Alan Greenspan has died at 100 from complications of Parkinson’s disease, his wife Andrea Mitchell has said. Greenspan served as Federal Reserve chair from 1987 to 2006, presiding over a long era of U.S. growth and later facing criticism for policies many link to the 2008 financial crisis.
Federal regulators are directing grid operators to streamline interconnections for AI data centers, with data centers paying upgrade costs. The move aims to support AI growth while protecting consumers, but critics warn it could stress reliability and raise bills.
Reflection AI has inked a multiyear deal with SpaceX to access Nvidia GB300 AI chips and related hardware at SpaceX’s Colossus 2 data center in Memphis. The pact, valued at up to $6.3 billion if extended through 2029, begins July 2026 and can be terminated by either side with 90 days’ notice after three months. The arrangement positions Reflection among providers of frontier AI infrastructure as it pursues open-weight models.
Foreign governments, banks and multinationals are flocking to China's yuan-denominated panda bonds as the currency's funding costs stay near historic lows. Issuance accelerates amid an interest-rate gap with the dollar, with sovereigns, institutions and corporates tapping the market.
Brent crude has fallen to around $72-73 a barrel after renewed talks signal a potential peace deal between the US and Iran. Transit through the Strait of Hormuz is increasing, easing supply fears and driving markets higher, while analysts warn that tensions still linger and further volatility could follow.
Five Eyes agencies warn frontier AI could dramatically accelerate cyber threats in months, not years, while open questions linger about how to regulate and secure the technology.
Global tech shares have pulled back after a rally in AI-related stocks. Benchmark indices in Asia show sharp declines, including South Korea’s Kospi, as investors reassess valuations amid rising chip costs and AI infrastructure spending. US futures show mixed signals as investors await key inflation data.
ASML is at the center of a widening policy dispute as U.S. and Dutch officials scrutinize the company’s ability to export EUV lithography machines to China. New legislation and high-level meetings signal potential curbs that could reshape the global chip supply chain.
Meta Platforms is developing an independent, app-based prediction market dubbed Arena, seeking to compete with Kalshi and Polymarket. The project would initially use a points system rather than real money, with potential moves toward real-money betting in the future. Reports indicate Arena is a high-priority experimental project that could leverage Meta’s vast user base.
A federal judge has blocked President Trump’s executive order on mail-in voting, preventing it from taking effect before November elections. The ruling follows lawsuits from Democratic-led states arguing the order oversteps presidential authority and intrudes on states’ election administration.
SK Hynix plans to raise about $29 billion through an ADR listing on the Nasdaq, aiming to broaden its investor base and reflect its growing global value as AI demand fuels memory-chip stocks. The move comes amid volatility in semiconductor sentiment and after a sharp stock rally in the last year.
European shares drift and U.S. futures tick higher as investors weigh mixed signals from U.S.-Iran negotiations, with oil prices fluctuating and defense names gaining on European strength.
Developments in quantum computing have intensified scrutiny over Majorana claims as critics urge stricter validation. Microsoft defends its work while independent researchers call for more transparency, in a field where practical quantum utility remains on the horizon.
JPMorgan Chase has named Doug Petno and Troy Rohrbaugh as co-presidents, signaling a shift in leadership as Marianne Lake retires. The board is advancing a male-dominated succession slate, with Erdoes and Piepszak retaining high-level roles and retention bonuses awarded to top bankers.
Non-sponsor brands are driving engagement at this year’s World Cup, outpacing official sponsors in social media chatter as marketers pivot to real-time trends and creative campaigns across the U.S., Canada, and Mexico-hosted event.
VW Group is accelerating its transformation, with reports of plans to double previously announced German job cuts, shutter four plants, and potentially spin off the VW brand as it fights Chinese competition and market shifts. The board review could formalize a sweeping restructuring by 2030.