Business
The latest in business, ranked by importance and recency.
Los Angeles TimesEU Fines Temu €200 Million Over Unsafe Products
The European Commission imposed a €200 million fine on Chinese e-commerce platform Temu for failing to assess risks from illegal goods. The penalty is the second issued under the Digital Services Act.
The IndependentGas Prices Rise 50% Since Start of Iran War
Lower-income Americans cut gas use by 7% but still spent 12% more in March as prices rose sharply after the Iran war started Feb. 28. U.S. airlines spent 56.4% more on jet fuel that month, prompting carriers to cut two million seats in May schedules worldwide. The New York Fed re…
Aggreko to Build Off-Grid Hybrid Plant for Eva Copper Mine
Global energy company Aggreko will construct Australia's largest off-grid renewable hybrid power facility at the Eva Copper Mine in North West Queensland. The 15-year project will supply 72 megawatts of power using solar, battery storage and thermal generation.
New York PostEstimated Cost of US War in Iran Rises to $29 Billion
A senior Pentagon official told a House subcommittee Tuesday that the estimated cost of the war in Iran has increased to $29 billion from a previous $25 billion figure reported at the end of April. The update came during a hearing on President Trump’s $1.5 trillion budget request…
France 24U.S. Consumer Prices Rose 3.8 Percent in April
Consumer prices increased 3.8 percent annually in April, exceeding the 3.7 percent forecast, driven by soaring energy prices linked to the war in Iran. The conflict has disrupted global fuel supplies, raised costs for travel, food and housing, and prompted businesses and consumer…
France 24Macron Announces $27 Billion Investment Package at Africa Forward Summit in Kenya
French President Emmanuel Macron announced 23 billion euros in investments during a two-day summit in Nairobi focused on energy transition, agriculture and artificial intelligence. The gathering brought together more than 30 African heads of state and business leaders as France s…
nbcnews.com**FBI Investigating Deaths and Disappearances of Multiple US Scientists**
Multiple House Republicans are under investigation or have resigned amid allegations of sexual misconduct with staff, prompting fresh criticism of the House Ethics Committee and calls for stronger rules. Republican women lawmakers have led demands for accountability, releasing da…
The Free PressTed Turner, Founder of CNN and TBS, Dies at 87
The media mogul who launched the first 24-hour cable news network on June 1, 1980, in Atlanta died Wednesday. President Donald Trump and current CNN leaders paid tribute to his transformative career in broadcasting, sports and philanthropy. Turner built an empire from a small UHF…
680news.comGap Co-Founder Doris Fisher Dies at 94 Surrounded by Family
Doris Fisher, who co-founded The Gap Inc. in 1969 with her husband Don, died on May 2, 2026, at age 94. She served as the company's merchandiser for nearly four decades and helped build it into a global brand generating over $15 billion in annual sales. Fisher is survived by thre…
Fox NewsFAA Releases 2026-2028 Air Traffic Controller Hiring and Modernization Plan
The Federal Aviation Administration unveiled its 2026-2028 Air Traffic Controller Workforce Plan on Friday, calling for hiring 6,900 new controllers over three years while modernizing scheduling and replacing aging infrastructure. FAA Administrator Bryan Bedford said the plan del…
Al JazeeraAfrica's Richest Man Plans Second Oil Refinery in Kenya
The businessman who opened Nigeria's 650,000-barrel-per-day refinery in 2024 has said he prefers to build a new $15-17 billion facility in Mombasa rather than Tanzania. The move follows global oil supply disruptions caused by conflict involving the U.S., Israel and Iran that clos…
Abc NewsKuwait Accuses Iran of IRGC Infiltration on Bubiyan Island
Kuwait said a six-man team from Iran's Revolutionary Guard attempted to infiltrate Bubiyan Island on May 1 to carry out hostile acts. Four attackers were detained while two escaped; one Kuwaiti security official was wounded. The allegation comes days before President Donald Trump…
Hoover InstitutionTrump to Visit Beijing
President Trump is scheduled to travel to Beijing on May 14 for trade talks with Chinese leaders. A recent court decision on tariffs could weaken his negotiating position. Senior U.S. officials said security concerns related to artificial intelligence may also be discussed during…
EuronewsEU Bars Airlines From Adding Fuel Surcharges After Ticket Purchase
The European Commission ruled that airlines cannot add fuel surcharges to tickets already sold in the EU, even as jet fuel prices have more than doubled since the Iran conflict began in February. The guidance follows Spanish carrier Volotea applying such fees of up to €14.
zerohedge.comJustice Department Sues Colorado Over Denver Assault Weapons Ban and Magazine Limit
The Justice Department filed a lawsuit against Colorado over its ban on high-capacity magazines and issued a demand that Denver repeal its 37-year-old assault weapons ordinance. Denver officials rejected the demand, stating the law has reduced violent crime and reflects community…
sfist.comGap Co-Founder Doris Fisher Dies at 94 in San Francisco
Doris Fisher, who co-founded the Gap retail chain in 1969, died on Saturday at age 94. She played a key role in building the company into a global brand by focusing on merchandise and style trends like jeans and casual wear. Her death was confirmed by a company spokesman.
theyeshivaworld.comEU fines Temu more than $230 million over illegal product sales
The European Commission imposed a €200 million penalty on the Chinese e-commerce platform after finding consumers are very likely to encounter illegal items. Temu has until August 26 to submit a compliance plan or face further penalties.
ForbesHorror Film Obsession Earns 80 Times Its Budget After Two Weeks
The low-budget horror film opened at number three domestically and rose 30 percent in its second weekend. Worldwide gross reached $79.7 million against a production cost of roughly $1 million.
zerohedge.comReport Says Iran Destroyed About 20 Percent of U.S. MQ-9 Reaper Drone Fleet
Bloomberg reported that Iran has destroyed roughly 20 percent of the U.S. pre-war MQ-9 Reaper inventory, valued at about $1 billion. The losses occurred both in flight and on the ground during strikes on U.S. bases in the Gulf.
New York PostGas Prices Near Record Highs Ahead of Memorial Day Travel
National average fuel costs are approaching historic peaks as the Iran conflict disrupts oil supplies. AAA projects more than 39 million Americans will travel by car this weekend despite elevated prices.
finance.yahoo.comIntuit Cuts 3,000 Jobs, or 17 Percent of Workforce
Intuit eliminated about 3,000 full-time positions worldwide, representing 17 percent of its workforce. The company said the reductions target management and redundant roles while it focuses on AI development.
New York PostJames Murdoch's Lupa Systems Acquires Half of Vox Media for Over $300 Million
James Murdoch's investment firm Lupa Systems agreed to buy New York magazine, Vox.com and the Vox Media Podcast Network. The transaction covers roughly half of Vox Media and is valued at more than $300 million. Remaining Vox properties will form a separate company led by co-found…
The GuardianCanal+ Chief Says Group Will Stop Working With Petition Signers
The head of France's largest film producer announced the company will no longer work with more than 600 industry figures who signed a petition criticizing owner Vincent Bolloré. The open letter, released ahead of the Cannes festival, warned of far-right influence over French cine…
France 24Canal+ Chief Says Company Will Stop Working With Petition Signers
The head of France’s largest film producer announced the company will no longer work with hundreds of actors and directors who signed a petition criticizing the influence of its right-wing owner. The move follows the petition’s publication at the start of the Cannes Film Festival…
Los Angeles TimesCuba Turns to Private Businesses as Fuel and Food Shortages Worsen
Cuba has run out of diesel and fuel oil, prompting increased reliance on the private sector that now accounts for the majority of retail sales. President Trump's administration has intensified economic pressure on the island, including sanctions and limits on oil shipments. Small…
BBC NewsCIA Director Ratcliffe Holds Talks With Cuban Intelligence Officials in Havana
CIA Director John Ratcliffe traveled to Havana to deliver a message from President Trump as Cuba faces severe fuel shortages and street protests. The meeting followed a renewed U.S. offer of $100m in aid but came as Washington prepares charges against 94-year-old Raúl Castro over…
EuronewsFive EU Countries Submit Joint Objections to Commission’s Proposed Centralised Grid Planning
Bulgaria, Finland, France, Poland and Sweden have challenged the European Commission’s December 2025 proposal for a “central scenario” to guide long-term electricity investment. The five nations argue that a top-down approach would slow the green transition, raise costs and reduc…
realitytea.comElon Musk and Lei Jun Selfie Interaction Goes Viral in China
A brief interaction between Elon Musk and Lei Jun at a banquet in Beijing this week spread rapidly on Chinese social media. Musk was in the Chinese capital as part of a business delegation accompanying President Trump. The clip showed Musk making faces during a requested selfie b…
ABC NewsUS Grocery Prices Rose 2.9% in April 2026, Matching Recent Trends as Egg Prices Fall Sharply
Government data released Tuesday showed food-at-home prices increasing 2.9 percent year-over-year, driven by sharp gains in beef, coffee, fresh produce and tomatoes. Overall food prices including restaurants climbed 3.2 percent, even as egg prices fell 39 percent. Economists said…
thehindu.comGlobal Supply Chains Disrupted After Iran Blocks Strait of Hormuz
Japan's largest snack maker will switch to black-and-white labels by the end of May 2026 because of a naphtha shortage caused by the closure of the Strait of Hormuz. The February 2026 U.S.-Israeli attacks on Iran have triggered worldwide shortages of fuel, metals, fertilizer ingr…
foxnews.comU.S. Government Energy Spending More Than Doubled Since 2019 to Exceed $405 Billion in 2025
Government spending on energy exceeded $405 billion in 2025, more than double the level in 2019. The majority of the funds supported investments in energy infrastructure, manufacturing, renewables, efficiency programs and incentives for fuel switching. The International Energy Ag…
abcnews.go.comArmy Reduces Training, Tightens Spending as Fiscal Year Ends Amid Higher Fuel Costs and Border Mission Expenses
The Army is canceling elite courses, cutting flight hours and imposing aggressive spending scrutiny as it confronts a multibillion-dollar budget gap driven by the Iran war, border missions and rising personnel costs. Internal documents show the III Armored Corps, representing nea…
abcnews.go.comPharma Companies Participating in TrumpRx Spent $130M on Lobbying in 2025
Seventeen companies anchoring the White House's new prescription drug-pricing program spent more than $130 million on federal lobbying in 2025, accounting for over a quarter of industry record spending. The surge coincided with development of TrumpRx, launched in February 2026. S…
New York PostByron Allen Acquires Controlling Stake in BuzzFeed for $120 Million
Media entrepreneur Byron Allen will become CEO of BuzzFeed after purchasing a controlling stake through Allen Family Digital. Jonah Peretti, who co-founded the company 20 years ago, will step down as CEO and become president of BuzzFeed AI. The deal comes as BuzzFeed shares have…
BBC NewsUS Economy Adds 115,000 Jobs in April; 3-Month Average Falls to 48,000
The Labor Department reported stronger-than-expected hiring in April despite economic uncertainty from the closure of the Strait of Hormuz and rising gasoline prices after US and Israeli strikes on Iran. Revisions to prior months left average job growth at 48,000 over the three-m…
EuronewsShipping Industry Faces Bunker Fuel Shortages After Strait of Hormuz Disruption
Global shipping companies are preparing for potential fuel shortages and higher costs following disruption in the Strait of Hormuz caused by the Iran war. The conflict has affected supplies of bunker fuel, which powers vessels responsible for moving about 80% of world trade by se…
DeadlineCanela Media Launches AI-Generated Microdrama App Zully in Spanish and English
Canela Media unveiled Zully, a 100% scripted microdrama platform, at its upfronts presentation in New York on Monday. The app draws on the company's AI-heavy production model based in Mexico and targets the $11 billion global micro-series market. Founder and CEO Isabel Rafferty-Z…
techjuice.pkPhysical Violence Threats Rise in Cyber Crime Cases
Hackers are increasingly hiring others to threaten or harm company staff during ransomware attacks. FBI data shows reported cyber incidents in the US reached a record 1,008,597 last year with losses of $20.8 billion. Research indicates physical threats occurred in 40% of global r…
medium.comFinal Components of ITER Central Solenoid Magnet Delivered to France After 15-Year Build
The last modules of the 18-meter-tall central solenoid, a 3,000-tonne superconducting system developed over 15 years at Oak Ridge National Laboratory, have reached the ITER site in Cadarache. The delivery advances assembly of the world's largest nuclear fusion experiment, a €22 b…
EU Entry-Exit Biometric System Now Operational in Most Member States
The European Commission confirmed that Portuguese and Italian authorities will not exempt British nationals from the Entry-Exit System despite long queues and missed flights at airports. Greece has suspended biometric checks for UK visitors until September.