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Impact of disruption caused by US-Israeli war on Iran may be felt into 2027 even if strait of Hormuz reopens, says aviation body headIncreases in air fares for travellers in Europe are “inevitable” over the peak summer period because of the high cost of jet fuel, according to the head of the international aviation body.While some airlines faced with weak demand have reduced their European fares recently, Willie Walsh, the former British Airways boss who leads the International Air Transport Association, said there was no way carriers could absorb the extra costs in the long run. Continue reading...

• The ongoing conflict in the Middle East has driven up oil prices, expected to slow US economic growth compared to a no-conflict baseline scenario, according to Deloitte analysis. • Despite pressures from elevated energy costs, US firms are unlikely to materially reduce investment plans due to resilient growth in AI and technology sectors. • Higher oil prices will affect US consumers through increased costs, though broader economic resilience from AI investments may mitigate some impacts.

Prices rose 3.8% over the last year, according to Bureau of Labor Statistics data, highest jump since 2023Sign up for the Breaking News US newsletter emailUS inflation jumped to 3.8% in April as the war in the Middle East continued to drive energy prices and everyday costs for Americans.Prices rose 3.8% over the last year, according to the data from the Bureau of Labor Statistics, the highest jump since 2023. Continue reading...

• U.S. stocks surged last week with the S&P 500 and NASDAQ reaching new record highs, supported by stronger-than-expected April jobs data and solid tech earnings. • The S&P 500 climbed 10.42% in April to close at a record 7,209.01, while the Nasdaq 100 rallied 15.64% and Dow gained 7.14%, led by mega-cap tech and AI enthusiasm. • Employment growth exceeded forecasts in April with unemployment steady at 4.3%, while Q1 earnings for the Magnificent Seven are projected to grow 45.7% year-over-year.

• iShares MSCI South Korea ETF and iShares MSCI Taiwan ETF have risen 239% and 96% respectively over the past 12 months amid AI mania. • South Korea's KOSPI index hit a record 7,899.32 on Monday with a 4% surge, while Taiwan's TAIEX closed above 42,000 for the first time last week. • Goldman Sachs forecasts South Korea's GDP growth at 2.5% in 2026 with AI-related exports tripling to nearly 30% of GDP; Taiwan's GDP expected to accelerate to 10% with similar export rises.

• EverQuote Inc. delivered strong Q1 2026 results with 30% EBITDA growth, highlighted in May 2026 investor presentation showing accelerating profitability. • AI initiatives drove expansion in insurance quoting platform, boosting operational efficiency and market penetration. • Performance underscores Nasdaq-listed firm's momentum in digital insurance marketplace amid tech-enabled growth.

• China Daily highlights the Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade agreement, as increasingly vital for anchoring growth across Asia amid global uncertainties. • Covering 30% of global GDP and population, RCEP facilitates deeper supply chain integration and tariff reductions among 15 member nations including China, Japan, South Korea, ASEAN countries, and Australia. • The pact's expansion of trade rules supports resilience against trade wars and economic slowdowns, boosting intra-Asian commerce by an estimated 10-15% in key sectors.

• The Business Times reports AI enthusiasm propelled markets higher, with gains concentrated in a handful of mega-cap tech firms while broader corporate earnings lag behind soaring valuations. • Hong Kong emerged as an AI startup launchpad, achieving a five-year high in fundraising during Q1 2026, alongside Chinese VC/PE funding surging past 400 billion yuan (US$59 billion). • ChiNext Index reached an 11-year intra-day high of 3,785.23 on April 23, fueled by funds piling into optical-communication stocks like Zhongji Innolight and Eoptolink on bets of US AI infrastructure demand.

• Asia's tech leaders including Tencent and Alibaba are becoming central to the global AI boom through massive investments and innovations. • The industry center of gravity shifts eastward as Chinese firms develop competitive AI models and infrastructure. • These companies challenge Western dominance by scaling applications in e-commerce, cloud, and consumer tech.

• Allison Transmission posted an 84% revenue surge in Q1 2026, primarily fueled by a recent acquisition amid macroeconomic uncertainty. • The company reaffirmed its full-year 2026 guidance issued on February 23, factoring in Q1 results and geopolitical risks. • This performance underscores acquisition-driven growth in the transmission sector, with implications for industrial suppliers.

• Indian equities are expected to remain highly sensitive to geopolitical developments this week, with markets tracking the ongoing US-Iran situation and fluctuating crude oil prices that could trigger sharp movements in large-cap stocks. • Foreign investors have withdrawn Rs 14,231 crore from Indian equities so far in May amid global macroeconomic uncertainties, signaling reduced confidence in the market amid external headwinds. • Key macroeconomic releases this week include India's April CPI inflation data and US inflation prints (CPI and PPI), which analysts warn could materially shape Federal Reserve rate-cut expectations and global risk sentiment.

• The Philippine Social Security System (SSS) rolled out an AI‑powered fraud‑detection platform on May 7, 2026, using anomaly‑detection models trained on 15 years of pension and contribution records. • Initial testing reportedly flagged over 44,000 suspicious claims during a six‑month pilot, with an estimated $187 million in potential fraudulent payouts prevented before the nationwide launch. • The system, developed in partnership with a local AI‑analytics startup, analyzes over 120 behavioral and transactional features per claimant and pushes alerts to human investigators via a dashboard.

• India’s National Cyber Security Coordinator’s Office launched CyberMatrix AI on May 6, 2026, the country’s first integrated AI‑driven cyberthreat‑intelligence platform linking federal agencies, critical‑infrastructure operators, and private‑sector CERTs. • The platform processes over 1.2 billion network events daily, applying graph‑based anomaly detection and LLM‑fused TTP analysis to generate automatic incident‑response playbooks tailored to telecom, power utilities, and financial‑services networks. • Early metrics indicate a 38% reduction in mean‑time‑to‑detection across pilot sectors during a 90‑day trial, with the government aiming to extend coverage to all 140 regulated critical‑infrastructure entities by mid‑2027.

Judges have been fired or taken buyouts, and those remaining say they toe the government lineDavid Koelsch, a former immigration judge based in Maryland, was in Minneapolis visiting his mother and sister the day Alex Pretti was shot and killed by federal agents. He drove to Nicollet Avenue, parked a few blocks away, and walked toward the scene.“I didn’t go there to protest. I didn’t bring a sign. I didn’t bring anything. I just went to stand and bear witness,” Koelsch said. Continue reading...

• Between 1999-2022, US mortality rates exceeded other high-income countries by 38% in 2022, leading to 12.7 million preventable 'missing Americans' deaths. • Cardiovascular diseases topped causes, followed by metabolic conditions like diabetes, Alzheimer's, and drug/alcohol complications, per Boston University study in JAMA Network Open. • Excess deaths rose steadily through 2019 and spiked during COVID-19, highlighting failures in health, social, and economic policies.

Automaker had given ‘numerous statements reassuring drivers that it would not do so’, says California attorney generalGeneral Motors (GM) agreed to pay $12.75m to resolve claims that it illegally sold hundreds of thousands of Californians’ location and driving data to two data brokers, said the state’s attorney general, Rob Bonta, on Friday. He said this came after the Detroit-based automaker had given “numerous statements reassuring drivers that it would not do so”.“General Motors sold the data of California drivers without their knowledge or consent,” Bonta said in a statement. “This trove of information included precise and personal location data that could identify the everyday habits and movements of Californians.” Continue reading...

• JPMorgan analysis shows markets repricing oil-driven inflation risks, with global equities adjusting to potential rate hike scenarios amid recent oil price surges. • Central banks are providing clearer signals on monetary policy, suggesting rate hikes may not materialize as aggressively as feared despite elevated energy costs. • The divergence highlights inflation fears running ahead of underlying economic reality, potentially creating buying opportunities if data moderates.

• APAC recorded the fastest regional growth in semiconductor sales at 45.4% year-over-year in 2025, propelled by demand for AI systems and advanced logic chips. • The boom ties directly to expanding AI infrastructure needs and power electronics in the region. • Singapore and Southeast Asia hubs benefit as key players in global supply chains amid rising tech demands.

• Workers' Party MP He Ting Ru highlighted Singapore as one of the most vulnerable economies to AI disruption during a parliamentary motion on AI transition. • She urged recognition of uncomfortable realities beyond the nation's praised infrastructure and upskilling initiatives. • Singapore's approach, cited by BCG, IMF's Kristalina Georgieva, and others, focuses on confronting AI opportunities and risks through worker reskilling.

• Fortinet highlighted a 389% increase in ransomware victims, driven by AI-enhanced cybercrime tactics disrupting global operations including in India. • The company's threat intelligence efforts are transforming awareness into actionable insights to counter sophisticated AI-powered attacks. • This surge underscores rising cybersecurity risks for Indian enterprises as AI tools enable more convincing phishing, deepfakes, and automated assaults.

• KeyCorp posted stronger Q1 2026 results with noninterest income up 8.2% year-over-year to $723 million, led by double-digit growth in investment banking, trust and investment services, and service charges. • The Consumer Bank earned $173 million and the Commercial Bank $451 million, both higher than prior year, while noninterest expenses rose 4.4% to $1.18 billion from increased personnel and technology spending. • Credit quality remained controlled with a provision for credit losses of $106 million, down from $118 million, and KeyCorp maintained a strong Common Equity Tier 1 capital ratio of 11.4%.

• Yaron Elad and Elik Etzion, along with US partner Gurinder Sidhu, launched AlphaDrive, a $100 million investment fund focused on cybersecurity and AI with a unique investment model. • The founding partners bring a track record of 22 exits in cybersecurity investments generating approximately $2.5 billion in combined value. • The fund represents a strategic pivot toward investing at the convergence of cybersecurity and artificial intelligence, reflecting market trends following recent high-profile AI security incidents.

• The World Economic Forum and KPMG released "Empowering Defenders: AI for Cybersecurity," a white paper showing organizations using AI extensively in security operations have reduced average breach costs by $1.9 million. • The study found AI deployment shortened breach lifecycles by approximately 80 days, with data from 20 partner case studies including IBM, Accenture, Check Point Software, ING, KPMG, and Saudi energy giant Aramco. • Ninety-four percent of cyber leaders surveyed called AI the defining force in cybersecurity, marking a shift from theoretical promise to quantified operational proof.

• Nokia is pivoting to AI-driven network infrastructure, anticipating double-digit growth in the data center market. • The company plans increased investments in India and strengthened technology partnerships to meet rising AI demands. • This transformation positions Nokia as a key player in India's evolving telecom and AI ecosystem.

Delivery truck driver emerged with minor injuries after underside of jet hit tractor trailer in New Jersey on SundayThe driver of a delivery truck emerged with only minor injuries after his tractor trailer was struck by a passenger jet landing in New Jersey’s busy Newark airport on Sunday afternoon, officials said.New Jersey state police said a landing tire and the underside of a United Airlines plane arriving from Venice, Italy, hit the truck in question. The Boeing 767 aircraft also clipped a light pole, which in turn struck a Jeep. Continue reading...

• Singaporean semiconductor and electronics firms are accelerating plans to open or expand manufacturing and R&D facilities in the United States, driven by surging global demand for AI chips and US incentives to onshore critical supply chains. • Reports indicate that several Singapore‑listed chip‑assembly and test companies are evaluating sites in Arizona, Texas, and New Mexico, where state and federal subsidies could cover up to 40% of capital expenditure under the US CHIPS Act framework. • Industry executives told local media that geopolitical pressure on Taiwan and China is prompting customers to diversify production away from high‑risk hubs, turning Singapore‑based firms into key intermediaries in global AI hardware networks.

Exclusive: amid unrest, President William Ruto promised to give all Kenyans access to healthcare. But the algorithm favours the rich, an investigation has found An AI system used to predict how much Kenyans can afford to pay for access to healthcare, has systemically driven up costs for the poor, an investigation has found.The healthcare system being rolled out across the country, a key electoral promise of President William Ruto, was launched in October 2024 and intended to replace Kenya’s decades-old national insurance system. Continue reading...

• Cody Bellinger smashed two home runs and drove in four RBIs to lead the New York Yankees to victory on May 3, powering their surge with a 12th win in 14 games. • The performance highlighted Bellinger's impact since joining the Yankees, contributing key offense in a dominant outing against their opponent. • This hot streak positions the Yankees as frontrunners in the AL East, boosting their playoff odds amid a competitive season.