Companies

JPMorgan Chase leads 65 banks making decisions incompatible with restraining rising temperatures, researchers sayThe world’s largest banks committed $906bn in financing to the fossil fuel industry last year, an “unfathomable” increase in investment locking in years more of coal, oil and gas production as the world continues to overheat, a new report has found.The surge in new fossil fuel lending, up $64bn or nearly 8% on 2024, shows that the world’s largest 65 banks are making decisions incompatible with international agreements to restrain rising global temperatures, according to the coalition of environmental groups behind the new analysis. Continue reading...

Report blames Middle East conflict and rising business costs for fragile jobs market and steep fall in recruitmentUK companies are increasingly hiring temporary workers instead of permanent staff because of low confidence in the economy and higher cost pressures, according to a report.Recruiters reported a strong increase in offers of temporary roles in May, according to new research from KPMG and the Recruitment and Employment Confederation (REC). Continue reading...

• The AI competition between the US and China has shifted from a struggle over microchips to a strategic battle for top artificial intelligence talent. • Major US tech firms, including Apple, Google, OpenAI, and Microsoft, are facing challenges as tightening US immigration policies discourage foreign experts. • This policy shift is prompting brilliant Chinese scientists to leave Silicon Valley and return to Beijing, potentially transferring critical AI knowledge and visions.

Tech giants claim Australia’s free trade agreement with the United States will be violated, as they try to kill a proposal to force them to pay news companiesTech companies are invoking Australia’s free trade agreement with the United States, and threats of a Trump administration retaliation in a bid to kill off the federal government’s proposal to force them to pay news companies.The news media bargaining incentive is designed to force Meta, Google and TikTok to make commercial deals with Australian media outlets, or be forced to pay a dedicated 2.25% levy on local revenues. Continue reading...

Founder of Greensill Capital says there was no finding he acted dishonestly after his company collapsed owing £1.6bnThe disgraced former financier Lex Greensill has been banned from running a UK company for nine years after he was judged to be unfit because of the 2021 collapse of his £1.6bn supply chain invoicing firm.The government’s Insolvency Service said on Thursday that Greensill had signed a disqualification undertaking, bringing the case to an end before a trial was due to begin on 8 June. Continue reading...

• Many companies are failing to secure their systems as they rapidly integrate Large Language Models (LLMs) and generative AI. • Security gaps are being driven by "shadow AI" and weak internal controls, leaving firms vulnerable to data breaches, hallucinations, and unauthorized access. • This lack of preparation is critical because cybersecurity threats have increased exponentially in recent years, outpacing corporate defense strategies.

El Dorado blaze that burned 22,744 acres and claimed the life of a firefighter was ignited by an illegal deviceSign up for the Breaking News US newsletter emailNearly six years after a couple’s gender-reveal stunt sparked a deadly wildfire in southern California, the companies that sold the pyrotechnic device have agreed to a multimillion-dollar settlement.The Hubbard, Ohio-based Wholesale Fireworks Corp and its subsidiary American Fireworks Wholesale LLC have agreed to pay more than $4m, the US attorney’s office in the central district of California announced on Tuesday. A third company, the Miami-based Pink or Blue Gender Team Inc, agreed to pay $50,000. Continue reading...

• Major US AI firms, including OpenAI, SpaceX, and Anthropic, are planning massive fundraising rounds to fuel further technological expansion. • Investors believe this capital influx will trigger a surge in spending on critical hardware, specifically server parts, cooling components, and power equipment. • This trend is driving bets on Asian supply chain winners, potentially catalyzing a new rally for regional hardware firms and chipmakers like TSMC and Samsung Electronics.

• SpaceX and other companies are exploring the use of electromagnetic catapults, known as mass drivers, to facilitate a lunar economy. • A new report warns that these launchers could be repurposed as potent first-strike weapons systems due to their ability to launch projectiles from space. • The security concern stems from the fact that such a platform would be virtually undetectable and unassailable, creating a significant strategic imbalance.

• The pan-European STOXX Europe 600 Index rose by 3.00%, reflecting market resilience driven by hopes for de-escalation in the Middle East. • Despite this growth, overall economic forecasts remain tempered due to ongoing geopolitical uncertainties and energy shocks. • Investors are increasingly focusing on European growth companies with high insider ownership, as this alignment suggests management confidence in future prospects.

• U.S. companies are urged to shift from purely qualitative consulting to AI-powered quantitative risk analysis for their Asian operations by 2026. • The need for data-driven intelligence is highlighted by "China+1" diversification strategies, where production has moved to Vietnam, Thailand, Indonesia, and Malaysia. • This shift is critical because many firms have replaced single-node concentration with complex multi-node networks without accurately mapping new risk topologies.

• At least 127,000 workers at U.S.-based tech companies were laid off in mass job cuts throughout 2025, according to data from Crunchbase News. • The trend of workforce reductions has persisted beyond 2025, with layoffs continuing into 2026. • These figures highlight a significant period of instability and downsizing within the American technology sector across multiple years.

• Indian companies increased their outbound acquisitions in 2025, completing 162 deals worth over $18 billion, representing a 34% year-on-year rise. • The BBC reported on this trend with a headline suggesting these purchases are driven by slowing economic growth within India rather than financial strength. • OpIndia criticizes the BBC's framing, arguing that the broadcaster is pushing a narrative of "domestic failure" to overshadow the success of Indian balance sheets.

• Forbes China released its "2026 AI TOP 50" list on May 17, highlighting the companies driving a global productivity revolution through artificial intelligence. • Minto Technology was recognized for its WorkBrain large model and product matrix, which currently serves over 6,000 enterprise and government clients across Australia, the Middle East, and Southeast Asia. • Deepexi Technology, which listed on the Hong Kong Stock Exchange in 2025, was featured for integrating its enterprise LLM with the FastAGI platform to create an "AI-grade enterprise operating system."

• Over 30 major companies, including Meta, Amazon, LinkedIn, Walmart, and Standard Chartered, have implemented layoffs throughout 2026. • Freshworks, a software firm based in San Mateo, California, announced in early May that it will reduce its workforce by 11% during the second quarter. • These widespread job cuts are being driven by shifting economic conditions and the rapid integration of AI, which is reshaping the global business landscape.

• A French consortium led by Scaleway has submitted a bid of approximately $10 billion to construct one of the European Union's planned AI gigafactories. • The project is part of the InvestAI Facility, a €20 billion initiative designed to underwrite up to five large-scale AI infrastructure sites across the bloc. • The program has seen significant interest, with 76 expressions of interest received from member states including Germany, Spain, Italy, Finland, Portugal, and the Netherlands.

• Porsche has announced plans to reduce its workforce by 1,900 positions in Germany by 2029. • The layoffs will primarily impact the Weissach research and development center and the Stuttgart-Zuffenhausen factory. • This downsizing is a strategic effort to increase efficiency and profitability, occurring amidst a potential takeover bid from Italy’s UniCredit.

Scotland Yard to send files to CPS with ‘strong evidence’ of potential wrongdoing – but any trials could be years awayScotland Yard has said it hopes to bring criminal charges against 77 companies and individuals for the 2017 Grenfell Tower fire, in which 72 people died.The lead investigator, Garry Moncrieff, said his team of 220 detectives had gathered “strong evidence” of potential wrongdoing. Continue reading...

• Tech: NYC reports 21 startups crossed the Series A threshold in April 2026, tracked in their monthly 'Series A: A Series' update. • Funding checks are notably increasing in size, reflecting stronger investor confidence in early-stage tech ventures amid economic recovery. • The roundup emphasizes New York City's vibrant startup ecosystem, with focus on AI, fintech, and climate tech sectors.

• India's largest companies have seen profits surge over 30% annually since the pandemic, yet private investment remains weak with capital outflows nearly matching FDI inflows. • Chief Economic Adviser V. Anantha Nageswaran and Finance Minister Nirmala Sitharaman publicly questioned the reluctance amid tax incentives, infrastructure push, and record corporate cash reserves. • Experts cite safety preferences by family-run businesses, funds parked in family offices by heirs, and high perceived political-regulatory risks as key barriers.

• Twelve Indian tech firms announced funding exceeding $1.1 billion, fueling AI innovation and startup growth in the country's booming sector. • This influx highlights exploding investment in India's tech industry, with focus on AI-driven startups and product development. • The deals position India as a global hub for tech funding, supporting economic expansion amid high AI adoption rates.

Albanese government announces east coast gas reservation policy, which will require producers to set aside 20% of export volumesFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastGas companies will be forced to set aside 20% of exports for domestic use under a reservation scheme designed to shore up supplies and bring down prices for households and businesses on the east coast.The federal government announced the design of the reservation scheme on Thursday as part of a wider overhaul of the mechanisms regulating the gas sector. Continue reading...

Firms raising prices at fastest rate in three years, driven by soaring energy and wage bills but also extra cost of metals and plasticsBusiness live – latest updatesOil prices fall as Trump hails ‘progress’ on Iran dealAirlines and other companies are increasingly using fuel surcharges to cover soaring costs, a survey has found, in a further sign of Iran war-linked inflation hitting the economy.A poll of companies in the services sector, which includes airlines, found rising fuel prices had contributed to businesses raising prices at the fastest pace in more than three years in April. Continue reading...

• India's Centre has notified 100% foreign direct investment in insurance companies, easing prior 74% cap restrictions. • The policy change aims to attract global capital, potentially lowering premiums and expanding coverage for consumers. • It holds significance for LIC by enabling strategic partnerships and sector modernization amid rising demand.

• Y Combinator's security startup cohort has expanded to 103 funded companies, reflecting accelerating investment in cybersecurity solutions amid rising threat landscapes. • The proliferation of YC-backed security startups demonstrates investor conviction that emerging cyber threats create durable market opportunities and venture-scale business potential. • This growth underscores the strategic importance of security infrastructure across enterprise and consumer markets, with founders addressing gaps in traditional defense mechanisms.

• India's government approved amendments allowing overseas companies with Chinese or Hong Kong shareholding of up to 10% to invest in India under the automatic route, with notification expected soon under the Foreign Exchange Management Act. • The decision was communicated by the government on Thursday and will come into effect following official notification, marking a significant shift in India's foreign direct investment policy toward greater openness. • This policy change, approved in March 2026 through amendments to Press Note 3 of 2020, aims to attract increased Chinese investment while maintaining regulatory oversight of strategic sectors.

Agreements with artificial intelligence firms spark concerns over public spending, cyber security and domestic surveillanceSign up for the Breaking News US email to get newsletter alerts in your inboxThe Pentagon said on Friday it had reached agreements with seven leading artificial intelligence (AI) companies: SpaceX, OpenAI, Google, Nvidia, Reflection, Microsoft and Amazon Web Services.“These agreements accelerate the transformation toward establishing the United States military as an AI-first fighting force and will strengthen our warfighters’ ability to maintain decision superiority across all domains of warfare,” the Pentagon said in statement. Continue reading...

• TIME Magazine published its 2026 TIME100 Companies list highlighting top entertainment firms on April 28. • Apple leads for prioritizing streaming quality over quantity in its services. • Other notables include Beast Industries for building an empire from viral antics and Neon for championing foreign films.