Drives

• Samsung is projected to achieve a record-high operating profit in the second quarter, fueled by surging demand for AI infrastructure and memory chips. • To sustain this growth, Samsung and SK Hynix have pledged a combined investment of 3,200 trillion won ($2.07 trillion) to expand chip production capacity in South Korea. • Samsung plans to execute its portion of this investment between 2026 and 2040, though SK Hynix has not yet provided a specific timeframe.

Charges yet to be filed over incident in town of Mukdahan as police seek to establish circumstances of crashAn 11-year-old boy has driven his parents’ truck into a Buddhist procession in Thailand, killing at least nine monks.CCTV footage shared by a local rescue group showed the moment the monks, wearing orange robes, were run over as they walked in procession along a road. The timestamp on the footage was shortly before 11am local time on Thursday. Continue reading...

• PayPal shares rose 3.85% to reach $44.82, driven by strong intraday momentum and increased demand from midcap funds following index rebalancing. • The stock is currently experiencing a baseline scenario of sideways movement, though it shows potential for further upside. • Technical analysis indicates that a break above $46.59 would confirm persistent short-term momentum, while a drop below $43.49 could signal a correction.

• The Dow Jones reached a record high for the second consecutive day, driven by a significant buying frenzy in artificial intelligence (AI) stocks. • The Australian share market is expected to have a cautious start to the new financial year, with ASX futures indicating a slight rise of 0.1%. • Economists warn that housing conditions will likely remain soft in the coming months due to high interest rates, weak consumer sentiment, and changes in tax policy.

• Artificial intelligence dominated the largest U.S. startup funding rounds this week, with AI companies securing the majority of the top 10 deals. • The week's most significant financing event was a $1.5 billion Series F round for Baseten, a provider of AI inference technology. • Biotech emerged as the second-largest sector for venture capital investment, though it trailed significantly behind the AI spree.

• Singapore's listed technology manufacturers are experiencing significant gains and increased institutional inflows driven by the global artificial intelligence boom. • The growth is fueled by massive capital expenditure from global tech giants who are increasing demand for advanced semiconductors and chips. • This trend highlights Singapore's strategic position in the global tech supply chain, attracting investment into local manufacturing capabilities.

• Mobile advertising spend across the Indian subcontinent has surged by 423%, primarily driven by a boom in short-form drama content. • Education apps in the region also saw significant growth, with Android user acquisition (UA) ad spend increasing by 184% and paid installs rising 66% year-over-year. • This trend highlights India's growing dominance in the digital entertainment and educational technology sectors.

Review reveals rise in users and rates of psychosis in countries where cannabis is sold commercially Decriminalising the possession of cannabis or strictly regulating access to the drug do not appear to drive up usage, but when the drug is sold commercially the number of users increases and more mental health problems are seen, a review has found.An international team analysed the dramatic shift in policies on cannabis between 2000 and 2025, including how the numbers of people taking the drug, its potency, and rates of psychosis changed after new rules came in. Continue reading...

• The FCM M&E 2026 Trends Report indicates that MICE planners continue to prioritize face-to-face meetings despite a heightened focus on risk management and logistics. • Safety and flexibility have become primary drivers in decision-making, with planners implementing stricter oversight of event security and operational agility. • There is a significant shift toward ESG (Environmental, Social, and Governance) goals, with an emphasis on environmentally conscious venues, waste management, and positive community impact.

• India's data center sector is experiencing significant growth driven by AI demand, with cumulative colocation leasing reaching 2.06 GW in 2025. • The surge is attributed to the increasing need for high-compute infrastructure to support artificial intelligence applications across the country. • This growth highlights India's emerging role as a critical hub for digital infrastructure and AI deployment in the global market.

• Asian stock markets are surging, driven by intense demand for semiconductors and AI-related equipment. • Key gains include Japan's Nikkei rising 1.1% following a 5% jump last week, while South Korea and Taiwan saw increases of 4.4% and nearly 6% respectively. • This growth occurs alongside rising oil prices triggered by geopolitical tensions in the Gulf region, despite ongoing peace talks.

• Nvidia reported a significant revenue surge of 85%, beating market expectations driven by the ongoing artificial intelligence boom. • Despite the strong financial performance, the company's shares slipped in late trading as investors expressed caution. • The decline is attributed to intensifying competition and the trend of major big tech customers developing their own in-house AI alternatives.

Man in 30s arrested over incident in Modena that left two seriously hurtSeven people were injured, two seriously, on Saturday after a car rammed into a group of pedestrians in the northern Italian city of Modena.Police said the driver, in his thirties, has been arrested. He is also alleged to have attempted to stab a passerby who had tried to stop him. 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.

• 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.

• 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.

ECB interest rate decision looms as growth across bloc stumbles and price rises gather pace, up from 2.6% in March and 1.9% in FebruaryBusiness live – latest updatesAir France-KLM cuts forecasts amid $2.4bn fuel bill riseInflation across the eurozone has soared to 3% this month as the Iran war drove up energy prices, and growth stumbles.Consumer prices rose by 3% a year across the single currency bloc in April, new data from statistics body eurostat showed on Thursday morning, up from 2.6% in the year to March, and 1.9% in February. Continue reading...

• Gas prices have surged above $4 per gallon and flights skyrocketed as the Strait of Hormuz blockade impacts energy markets amid the US-Israel war with Iran, eroding Trump's key political advantage. • More than three-quarters of registered voters—including over half of Republicans and 82% of independents—now blame Trump for the cost-of-living crisis affecting fuel, groceries, housing, and healthcare. • Trump's second-term approval ratings have fallen far faster than previous presidents after a government shutdown, tariffs, and the joint US-Israel attack on Iran, with Federal Reserve Chair Jerome Powell warning the war is fueling inflation.

Norway leads the way in terms of switching as data shows 224,000 new EVs were registered in MarchBusiness live – latest updatesSales of electric cars soared 51% in continental Europe last month, amid a rise in petrol and diesel costs driven by the Iran war.Data shows that 224,000 new electric vehicles (EVs) were registered in March, and 500,000 across the first three months of the year – a 33.5% increase on a year earlier, according to analysis of national sales data in 15 countries by New Automotive and E-Mobility Europe, a trade body. Continue reading...

• AI integration is delivering measurable spending momentum for Google Cloud, with enterprise technology research data confirming AI as a primary driver of cloud adoption. • The ML/AI segment is pulling Google's broader cloud business forward, explaining significant improvements in Google Cloud's performance over the past two years. • This trend indicates that AI is not merely a marketing narrative for Google but a concrete factor influencing enterprise purchasing decisions and cloud strategy prioritization.

Prices were up 3.3% over the year, adding to the unpredictability that first came with Trump tariffsSign up for the Breaking News US email to get newsletter alerts in your inboxUS inflation soared in March amid the US-Israel war with Iran, with prices up 0.9% compared to last month and 3.3% over the year, according to new data released Friday.The spike in the consumer price index (CPI), which measures the price of a basket of goods and services, is the largest in nearly two years and the first official measure of how the conflict has impacted US consumer prices, particularly as Iran blocked the strait of Hormuz, where a fifth of the world’s oil and gas would typically pass through. Continue reading...

Anutin Charnvirakul warns country is vulnerable over reliance on oil imports as countries across Asia introduce conservation measuresThailand’s prime minister, Anutin Charnvirakul, has called on the public to conserve energy, urging work-from-home measures and carpooling, as he warned of the impact of the conflict in the Middle East.In a statement posted on social media, Anutin said Thailand was exposed to the crisis because of its reliance on imported oil and gas, and the country could not be complacent. Continue reading...

Even if cargo route of strait of Hormuz reopens soon, Food and Drink Federation almost triples earlier forecastBusiness live – latest updatesFood inflation could hit 9% in the UK this year, even if the strait of Hormuz opens within the next few weeks, figures suggest, as the war in Iran pushes up energy prices.The Food and Drink Federation (FDF), which represents 12,000 food and drink manufacturers, has predicted that prices will rise by “at least” 9% the end of 2026, almost tripling a forecast made before the conflict of 3.2%. Continue reading...

• AI is expected to drive data center power consumption up 175% by 2030, creating unprecedented grid shortages that have pushed electricity prices higher across the country and compelled tech companies to seek alternative power sources. • Google's deal to power a new Minnesota data center blends wind and solar with a 30 gigawatt-hour battery from Form Energy, while the U.S. is expected to have nearly 65 gigawatts of battery storage capacity by year-end. • Dozens of startups including Amperesand, DG Matrix, Heron Power, Camus, GridBeyond, and Texture are developing power conversion and grid management technologies to address the critical energy shortage.

• Researchers from Carnegie Mellon and Northwestern Universities conclude insurer consolidation boosts health insurance premiums in US markets. • About 238 million Americans, or 78% of those insured, rely on private health insurance, increasingly concentrated with examples in Medicare Advantage drawing antitrust attention. • The analysis urges regulation and oversight to address market imperfections from asymmetric information and market power.

Jerome Powell resists Trump pressure as policymakers weigh energy shock against a weakening US jobs marketSign up for the Breaking News US email to get newsletter alerts in your inboxThe US Federal Reserve held interest rates steady for the second time this year, a widely expected move amid turmoil in the Middle East and rising energy prices.Fed officials faced a confluence of issues to consider in their meeting this week: soaring oil and gas prices, fluctuating inflation that still remains above the Fed’s target of 2% and a weakened job market that unexpectedly saw 92,000 losses last month. Continue reading...

• AI-powered data centers are prompting plans for new high-voltage transmission lines spanning hundreds of miles in states like Pennsylvania, West Virginia, and Virginia to meet surging electricity needs. • Pennsylvania's consumer advocate protests a $1.7 billion, 200-mile line from West Virginia, questioning cheaper alternatives and necessity amid the state's power export status. • A $22 billion Midwest transmission package faces opposition from regulators in North Dakota, Montana, Arkansas, Mississippi, and Louisiana over costs passed to consumers.