Bloomberg

Beyond chips, IMF warns AI wealth boom could fuel inflation risks

Booming technology stocks are swelling retirement accounts and investment portfolios, leaving consumers feeling richer and more willing to spend on vacations, homes and other big-ticket purchases

Apple's vision pro and smart glasses chief Paul Meade to join OpenAI

Paul Meade, a vice president, is set to leave Apple by next week and will then start at OpenAI's hardware unit

S&P keeps US sovereign rating at AA+ with stable outlook, resilient economy

S&P Global Ratings was the first major credit grader to strip the US of its AAA rating in 2011 and was harshly criticized by the US Treasury at the time

Data centres to deepfakes: How AI is reshaping US politics at every level

Driven by a flood of Silicon Valley money, AI has emerged as one of the biggest financial forces in this year's US elections

Anthropic's Mythos 5 AI model gets approval from Trump admin for wider use

The clearance eases a confrontation that erupted two weeks ago when the government abruptly barred Anthropic from giving foreign nationals access to Mythos 5 and a related model, Fable 5

Chinese cars account for over 10% of new vehicle sales in Europe in May

Hybrid and plug-in hybrids like the MG S9 sport utility vehicle helped Chinese automakers take 11% of European sales in May, according to analysts

RBI proposes wider access to money markets in draft rules for NBFCs, firms

Under the draft proposals, companies will also be allowed to participate in the term money market as lenders but smaller non-bank finance firms will be excluded

Why air-conditioning is one of the best solutions for dealing with summers

Most of northwest Europe is critically unprepared for a world in which heatwaves are the norm, not an exception

US Army to build critical minerals processing plants on military bases

REalloys Inc., Titan Mining Corp., ioneer Ltd. and Energy X have reached agreements with the Pentagon to build facilities for processing rare earth minerals, graphite, lithium and boron

Venezuela earthquake death toll rises to 188 as rescue efforts expand

The natural disaster has killed at least 188 people and injured more than 1,500 others in a country where emergency response capacity is limited after years of political and economic turmoil

Trump to make first trip on Qatar-gifted presidential jet on July 1

The inaugural trip aboard the Boeing Co. 747-8 will take the president to a dedication ceremony for the Theodore Roosevelt Presidential Library

Weak monsoon emerges as India's next economic problem after crude oil

The monsoon, which accounts for about 70% of India's annual rainfall, is vital for the $300 billion farm economy and has an outsized influence on food prices, rural demand and broader economic output

Apple raises MacBook and iPads prices to counter memory shortages

Apple raises Mac and iPad prices globally as soaring memory and storage costs driven by AI data-centre demand squeeze margins and disrupt supply

Alibaba Group slides to 16-month low amid Anthropic's AI accusations

Alibaba shares hit a 16-month low after Anthropic accused it of illicit AI model access, deepening concerns over China's AI ambitions and slowing growth

US inflation hits three-year high as consumer spending rebounds

US consumer spending rose in May despite the highest inflation in over three years, reinforcing expectations that the Federal Reserve may raise interest rates

Hormuz reopening quickly floods oil markets with supply, weighing on prices

An increase in crude shipments from the Persian Gulf, combined with weak Chinese demand and inventory releases, is putting downward pressure on oil prices worldwide

India set to approve Geely-backed investment of $370 mn as China ties thaw

The proposed investment by Horse Powertrain, backed by Geely and Renault, would support local production of advanced hybrid engines and powertrains

Google poised to lose two more senior AI researchers to Anthropic

The planned exits of two researchers linked to Gemini add to a string of recent departures that have raised concerns over Google's ability to retain top AI talent

US would reject Iran deal with shipping tolls on Hormuz: Trump warns Tehran

Iran sought to claim control of the strait after US and Israel launched strikes, denying passage to ships that hadn't been pre-authorised and effectively shutting down the waterway

Thailand, Philippines and Argentina primed as supply chain 'rising stars'

A new analysis says several Southeast Asian and Latin American economies are well positioned to attract investment as companies seek more resilient supply chains