An employee works at a pink salt production site on Lake Sasyk-Sivash near Yevpatoria, on September 21, 2023. Stringer | Afp | Getty ImagesA landmark resources deal between the U.S. and Ukraine is expected to lay the ground for further so-called “minerals for muscle” agreements.Washington and Kyiv signed a highly anticipated minerals deal earlier this month. The agreement, which has since been ratified by Ukrainian lawmakers, is designed to deepen economic ties, bolster Ukraine’s reconstruction and position the country as a supplier of strategically important minerals to the U.S.Long coveted by U.S. President Donald Trump, the partnership followed months of…
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Airbnb CEO Brian Chesky joins ‘Squawk Box’ to discuss the launch its redesigned app, the debut of services and experiences within the app, the company’s remote work policy, and more. Source link
More than 70% of Baidu Apollo Go robotaxi rides in Wuhan were fully driverless as of April, and the company said in May it expected 100% of the rides to be completely autonomous in coming quarters.Bloomberg | Bloomberg | Getty ImagesBEIJING — Chinese tech company Baidu’s Apollo Go robotaxi business plans to expand to Europe this year, according to a source familiar with the matter.Over the coming months, Apollo Go plans to open an entity in Switzerland and launch operations locally and in Turkey, said the source, who could only comment anonymously because of the sensitivity of the matter.Baidu declined…
A CATL logo is displayed on a smartphone screen with a Hong Kong Stock Exchange (HKEX) logo in the background on May 7, 2025 in Chongqing, China. Li Hongbo | Visual China Group | Getty ImagesChinese battery maker CATL is set to price its shares at HK$263 ($33.70) each and increase the size of the company’s Hong Kong listing, according to two sources with direct knowledge of the matter, raising about $4.6 billion.It would be the largest listing globally in 2025, according to LSEG data.Prospective investors have been told orders for CATL stock made below HK$263 per share risk missing out on allocations, the sources added.A so-called offer size adjustment option to increase the number of shares on sale by 17.7 million is set be exercised,…
Jefferies backed into a more neutral rating on Rivian shares. Analyst Philippe Houchois downgraded shares of the electric vehicle maker to hold from buy. Houchois’ $16 price target reflects 7.6% upside from Tuesday’s close. “Rivian still needs to demonstrate sustainable positive gross margin and a more capital-efficient business model,” Houchois wrote in a Wednesday note to clients. Houchois pointed out that while the company’s first-quarter earnings numbers were helped by a change in accounting, there was sill progress in bringing down costs for the R1 models and overseeing cash. He also said the company has a brand equity story worth…
Databricks co-founder and CEO Ali Ghodsi.DatabricksData analytics startup Databricks said Wednesday that it’s buying Neon, a cloud-based database software vendor, for about $1 billion.It’s the latest big deal for Databricks, which bought artificial intelligence model training startup MosaicML for $1.3 billion in 2023 and paid over $1 billion last year for data optimization startup Tabular.Neon has over 18,000 customers, Databricks said in a statement. Clients include OpenAI, Adobe, Boston Consulting Group, Replit and Vercel, according to Neon’s website.Many developers have flocked to Neon, which is open source and billed as an alternative to top cloud provider Amazon Web Services’ Aurora…
Saudi Crown Prince Mohammed Bin Salman reacts next to U.S. President Donald Trump during the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia, May 13, 2025.Brian Snyder | ReutersThe plenary room of the Ritz Carlton Riyadh was packed to the brim on Tuesday as guests awaited the arrival of U.S. President Donald Trump and Saudi Crown Prince Mohammed bin Salman.Attendees of the U.S.-Saudi Investment Forum included scores of the world’s most powerful CEOs, among them Elon Musk, Nvidia’s Jensen Huang and BlackRock’s Larry Fink, to name a few.The event’s security corralled guests — billionaires and junior consultants alike — into the…
When Sheikh Tamim bin Hamad al-Thani, the emir of Qatar, hosts President Trump at a lavish dinner at his palace in Doha on Wednesday evening, it will be the culmination of a successful charm offensive by the Gulf emirate that now appears likely to include the promise of a luxury jetliner to Mr. Trump — with no strings attached.The president, who has described the emir as a “great gentleman” and a “friend of mine,” is granting Qatar the honor of hosting one of the first foreign visits of his second term. As for the plane, the president says he would…
D3sign | Moment | Getty ImagesThe U.S. economy is still in a “strong position” despite “heightened uncertainty,” according to the Federal Reserve’s latest assessment.Yet there’s a looming economic risk the U.S. hasn’t meaningfully faced for decades — stagflation.”The risks of higher unemployment and higher inflation appear to have risen,” Federal Reserve Chairman Jerome Powell said on May 7.Those two factors — along with slower economic growth — are the definition of stagflation.Stagflation is not here yet. The unemployment rate is low and inflation has come down, though it is still higher than the Fed’s 2% target, Powell noted last week.…
Chinese tech company Tencent is a gaming giant and the parent company of WeChat, the ubiquitous social messaging app in China.Cheng Xin | Getty Images News | Getty ImagesTencent on Wednesday reported an annual rise in its top and bottom line in the first quarter fuelled by accelerated growth in its key gaming business.While revenue beat expectations, its net profit fell short. Here’s how Tencent did in the first quarter of 2025 versus LSEG estimates:Revenue: 180.02 billion Chinese yuan ($25 billion), versus 174.63 billion yuan expectedNet profit: 47.8 billion yuan, versus 52.2 billion yuan expectedRevenue rose 13% year-on-year, while net…
