Economy
Microsoft to invest $3.2 bn in AI in Sweden
Microsoft said Monday that it would invest 33.7 billion kronor ($3.2 billion) over two years in cloud and artificial intelligence infrastructure in Sweden, its biggest investment in the country.
Turkish inflation exceeds 75% but peak in sight
Turkish inflation jumped above 75 percent in May, official data showed Monday, but officials expect consumer prices to have finally peaked in a cost-of-living crisis that has dogged President Recep Tayyip Erdogan. Turkey has been battling soaring consumer prices that prompted Erdogan to drop his opposition to interest-rate hikes to combat inflation.
Homeowners and housebuilders pin hopes on ECB rates cut
In the west Frankfurt suburbs on a plot wedged between a motorway and a wooded park, excavators are preparing the ground for 400 new apartments.
Airlines eye 'new frontier' of AI ahead of global summit
Airlines may not be replacing pilots with artificial intelligence anytime soon, but aviation industry experts say the new technology is already revolutionising the way they do business. AI is "undoubtedly a new frontier, in that it's an extraordinary acceleration of technology and capabilities," said Geoffrey Weston, the head consultant on the airline industry at US-based firm Bain & Company.
In shakeup, Washington Post executive editor steps down
The executive editor of the Washington Post, Sally Buzbee, has abruptly stepped down from the role, as the storied American newspaper undergoes a major restructuring, its chief executive said late Sunday.
ECB to start rate cuts but sticky inflation clouds path ahead
The European Central Bank is expected to begin cutting eurozone interest rates from historic highs this week, but sticky inflation means the move is unlikely to kickstart a rapid easing cycle. The central bank will also release its own updated forecasts for growth and inflation on Thursday, which will feed into rate-setters' debate about their next move.
Asian markets rally on renewed US rate cut hopes
Asian markets rallied and the dollar weakened on Monday as a closely watched US inflation gauge dipped in April, reviving hopes that the Federal Reserve will cut interest rates this year. The PCE report came after figures showed eurozone inflation topped forecasts in April, though observers were still optimistic the European Central Bank will cut rates this week.
Rupert Murdoch marries again at age 93
Media magnate Rupert Murdoch has married for the fifth time at age 93, tying the knot with a retired molecular biologist a quarter century younger than him. Zhukova, who emigrated to the United States from Russia, is a retired molecular biologist.
Nvidia boss unveils AI products ahead of Taiwan expo
Nvidia on Sunday unveiled new products and plans to accelerate the advance of artificial intelligence, with the AI hardware titan's CEO telling a packed stadium in Taipei that "the next industrial revolution has begun".
Economy
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