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US airlines step up as Spirit winds down

US air carriers on Saturday mobilized to help passengers and crew members stranded by the overnight shutdown of Spirit Airlines, after the low-cost carrier's last-minute talks with creditors and the White House collapsed.

Aviation companies step up as Spirit winds down

US air carriers mobilized Saturday to help passengers and crew members stranded by the overnight shutdown of Spirit Airlines, after last-minute talks with creditors and the White House collapsed.

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An experimental cafe run by AI opens in Stockholm

The avocado toasts and baristas making foamy lattes make it look like any other cafe, except at this one, located in a Stockholm residential neighbourhood, artificial intelligence (AI) is running the place.

Jerome Powell: Fed chair who stood up to Trump set to finish tenure on top

US Federal Reserve Chair Jerome Powell, a soft-spoken central banker who chooses his words carefully, is perhaps an unlikely candidate to become one of the few figures who have stood up to President Donald Trump.

Pentagon makes deal to expand use of Google AI: reports

The Pentagon has arranged a deal to increase its use of Google's artificial intelligence in classified operations, US media outlets reported on Tuesday.

Don't 'loot a charity': Musk takes stand against OpenAI

Billionaire Elon Musk took the stand Tuesday to accuse OpenAI and its boss Sam Altman of betraying the AI company's altruistic origins, in a trial that could have far-reaching consequences for the industry and oblige the ChatGPT maker to profoundly revamp its business.

Crude back above $110 on Strait stalemate as US stocks retreat

Oil prices jumped on Tuesday to their highest level since the US-Iran ceasefire, pressuring US stocks as lack of progress on an accord to reopen the Strait of Hormuz added to inflation worries.

Ex-NBA player Damon Jones pleads guilty in gambling probe

Former NBA player and assistant coach Damon Jones pleaded guilty Tuesday to gambling-related charges, marking the first conviction in a betting scandal that engulfed elite basketball.

Airbus profits slide as deliveries drop

Airbus said Tuesday its first-quarter profit fell as it delivered fewer planes to customers, falling behind rival Boeing for the first time in years.

Musk faces off with OpenAI in court over broken promises

Elon Musk showed up for opening remarks Tuesday in a courtroom showdown with OpenAI over whether the artificial intelligence company betrayed its non-profit mission.

Will fuel shortages ruin summer vacations?

Concerns are growing that shortages of diesel and jet fuel due to supply problems caused by war between Iran and the United States could ruin summer vacations.

US Fed expected to keep rates steady as Iran war effects ripple

The US Federal Reserve opened its two-day meeting on Tuesday with policymakers expected to keep interest rates steady, as the war on Iran's effects on energy prices and supply chains ripple through the world's largest economy.

UAE pulls out of OPEC oil cartels citing 'national interests'

The United Arab Emirates will withdraw from the OPEC and OPEC+ oil cartels to focus on "national interests", it announced on Tuesday, causing fresh shockwaves as energy prices soar over the Middle East war.

Banking giant JP Morgan becomes Olympics sponsor

JP Morgan Chase became the first global bank to join the Olympic Partner Programme (TOP) on Tuesday in a major boost for International Olympic Committee president Kirsty Coventry.

Croatia, Bosnia sign major gas pipeline deal

Croatia and Bosnia on Tuesday signed a deal to build a major gas pipeline backed by investors close to US President Donald Trump, aiming to cut Sarajevo's reliance on Russian gas.

EU lawmakers back blockbuster long-term budget

The European Parliament on Tuesday threw its weight behind a more ambitious and bigger long-term EU budget, demanding new taxes to ramp up future spending.

Crude extends gains on Iran talks, stocks diverge on central bank meetings

Oil prices jumped Tuesday on lack of progress towards re-opening the Strait of Hormuz while stocks diverged as attention turned back to the outlook for interest rates and company earnings.

BP reports huge profit rise in first quarter

British energy giant BP on Tuesday reported a sharp increase in profits in the first quarter as crude oil prices soared amid the Middle East war.

Crude extends gains, stocks drop as Trump considers latest Iran proposal

Oil prices jumped and stocks sank Tuesday as Donald Trump weighed an Iranian proposal that would reportedly re-open the Strait of Hormuz and end the eight-week-old war.

Crude extends gains as Trump considers latest Iran proposal

Oil prices edged up and stocks wavered Tuesday as Donald Trump weighed an Iranian proposal that would reportedly re-open the Strait of Hormuz and end the eight-week-old war.

Oil rises, stocks mixed as US-Iran peace talk hopes dim

Oil prices rose and stock markets moved unevenly on Monday as the prospect of Iran peace talks remained stalled, ahead of a week full of central bank decisions and corporate earnings.

Iran FM blames US for failure of talks as he meets Putin

Iran's top diplomat blamed Washington on Monday for the failure of Middle East peace talks during a visit to Russia, where President Vladimir Putin promised him Moscow's support in ending the war.

Taylor Swift files to trademark her voice amid AI clone boom

Taylor Swift has filed applications with the US intellectual property office to trademark her voice, a move similar to one made by actor Matthew McConaughey, as AI-generated content surges.

UN maritime agency rejects Hormuz tolls

The head of the UN's maritime agency said Monday there was "no legal basis" for imposing any fees for ships to pass through the Strait of Hormuz.

Human Rights Watch warns of 'exclusion and fear' at World Cup

This summer's World Cup risks being defined by "exclusion and fear" due to crackdowns on immigration, demonstrations and press freedom in the United States, Human Rights Watch warned on Monday.

Carney launches $18 billion Canada sovereign wealth fund

Prime Minister Mark Carney on Monday announced the creation of Canada's first-ever sovereign wealth fund, beginning with a CAN$25 billion ($18.3) endowment he said will strengthen the economy amid a "crumbling" world order.

Oil rises, stocks steady as US-Iran peace talk hopes wobble

Oil prices rose and stock markets were steady on Monday as peace talks between the US and Iran stalled, ahead of a week full of central bank decisions and corporate earnings.

ECB set to hold rates steady with eye on Iran crisis

The European Central Bank is expected to hold interest rates steady again this week as it waits to see if the inflation spike triggered by the Middle East war will prove temporary or begin to weigh on growth.

Iran foreign minister arrives in Russia as US talks remain stalled

Iran's foreign minister arrived in Russia on Monday as peace efforts between Tehran and Washington hung in the balance, following a flurry of regional diplomacy and the collapse of planned talks in Pakistan.

Oil rises, stocks swing as peace talk hopes wobble

Oil prices rose Monday while stocks were mixed with the United States and Iran no closer to ending their eight-week-old war after Donald Trump cancelled his envoys' trip for peace talks at the weekend.

Iran minister leaves Pakistan, heads to Russia for more talks

Iran's foreign minister departed Islamabad for Moscow on Sunday, his ministry said, ping-ponging from capital to capital as mediators hoped to keep peace talks between Tehran and the United States alive.

Vollering wins women's Lige-Bastogne-Liege for 3rd time

European champion Demi Vollering won her third Liege-Bastogne-Liege one-day classic after a solo breakaway 35km from the finish on Sunday.

India plugs oil gap as Middle East supplies sink

India has ramped up purchases of Russian oil and revived alternate supplies from Africa, Iran and Venezuela to blunt a sharp crude shortfall from the crisis-ridden Middle East, analysts say.

Japan inflation cools demand for vending machine drinks

From post offices and parks to stations and even the summit of Mount Fuji, Japan's vending machines are ubiquitous. But with the rapid pace of inflation cooling demand for their drinks, operators are being forced to rethink the business.

Dubai Telegraph - Economy (English)