Firms

• A group of prominent French companies, including Orange, Capgemini, EDF, and Scaleway, have formed the AION consortium to bid for the European Union’s AI Gigafactories initiative. • The consortium aims to build massive computing infrastructure within France to reduce reliance on non-EU technology providers. • This move is critical for enhancing Europe's digital sovereignty and ensuring that EU economies remain competitive by securing scalable access to high-performance AI computing power.

Radiologists say ‘ballooning’ costs reflect staffing failures, forcing a reliance on lower-quality private scan reportsThe NHS is paying private firms record sums to analyse diagnostic scans because hospitals are too busy and understaffed to do the work themselves, research has revealed.The amount being spent on outsourced the interpretation of CT and MRI scans is “spiralling out of control” and reflects a short-sighted failure to train enough doctors, ministers are being told. Continue reading...

PR executives say UK companies are forcing them to present ordinary automation as artificial intelligence UK companies are performing “yoga-level” stretches to describe themselves as AI specialists in an attempt to capitalise on the buzz around the technology, public relations firms have said.Weary communications executives tasked with securing media coverage for brands have complained that bosses in low-tech industries or running businesses that use automation but not generative AI, are increasingly demanding they are pitched to journalists as artificial intelligence companies. Continue reading...

Exclusive: 3,500 social homes could switch to private sector after companies run by Heylo Housing group go into administrationMore than £52m in public money earmarked for social housing is at risk after the partial collapse of one of the England’s fastest-growing housing providers.Two of the investment companies run by the Heylo Housing group, which is backed by the asset managers Blackrock, have gone into administration leaving the government regulator scrambling to find a rescue deal to protect taxpayers’ money and prevent 3,500 social homes switching to the private sector. Continue reading...

Pay growth eases to 3.4% as businesses face pressure from soaring energy costsUnemployment in the UK has unexpectedly risen to 5% while wage growth has slowed, according to official figures, in the first snapshot of how companies are reacting to the impact of the Iran war.The Office for National Statistics (ONS) said the rate of unemployment was up in the three months to March, from 4.9% in February, a rate that City economists had expected to hold. Continue reading...

Survey shows businesses ‘struggling to absorb latest economic shock’, while data says April vacancies down 7.7%The worsening fallout from the Iran war is forcing businesses to halt their UK investment and hiring plans, bosses have warned, as Britain enters a renewed period of political and economic instability.More than two months into the US-Israeli war on Iran, leading surveys of UK employers showed companies were increasingly prioritising cost management over growth as rising costs and global uncertainty weigh on confidence. Continue reading...

The person was on board the MV Hondius, the center of the outbreak that has claimed three livesCanadian officials said oon Saturday that one of the four Canadians currently quarantining in British Columbia after being exposed to the hantavirus while on board the cruise ship where the outbreak occurred has presumptively tested positive.Speaking at news conference, Dr Bonnie Henry, British Columbia’s provincial health officer, said the individual developed mild symptoms, including fever and headache, two days ago, and that the individual and their partner, who had also been on board the cruise ship where they had been isolating together, were transferred to a hospital in Victoria for assessment and testing. Continue reading...

• The CDC confirmed 51 additional measles cases, bringing the nationwide U.S. outbreak to 1,893 infections as of May 16, 2026. • The agency said all but nine cases were locally acquired, 27 outbreaks have been reported this year, and 92% of patients were unvaccinated or had unknown vaccination status. • The outbreak is significant because measles spreads quickly in under-vaccinated communities, and the U.S. is now on pace to exceed last year’s 2,288 cases if transmission continues.

Under aviation regulator proposals rival companies would bid to design and build parts of airport expansionHeathrow could be forced to allow other companies to design and build its third runway and new terminal after the UK aviation regulator argued that rival bids could keep construction costs down.A long-awaited review by the Civil Aviation Authority (CAA) proposes changes to the regulatory model that governs how Heathrow runs and covers its costs. Continue reading...

• The Senate confirmed Kevin Warsh as Federal Reserve chair nominee, resolving a weeks-long standoff over Republican demands for a probe into outgoing Fed Chair Jerome Powell's conduct. • Warsh's confirmation represents a significant shift in Federal Reserve leadership as the administration prioritizes new economic policy direction amid ongoing inflation concerns. • The confirmation eliminates a major partisan bottleneck that had delayed central banking leadership decisions during a period of elevated business costs and consumer price pressures.

Warsh will serve four-year term as chair, taking over amid rising inflation and pressure from Trump to lower ratesThe US Senate confirmed Kevin Warsh as chair of the Federal Reserve, one of the most powerful roles in the federal government that holds enormous sway over the economy.The 54-45 Senate vote on Wednesday was split along party lines, with the exception of Democratic senator John Fetterman from Pennsylvania, who joined the Republican majority. Warsh was confirmed for a four-year term as chair and a 14-year appointment on the Fed’s rate-setting board. Continue reading...

• Energy Secretary Chris Wright stated on 'Face the Nation' that the U.S. military paused its ship escort operation in the Strait of Hormuz after Iran requested a halt to pursue peace talks. • President Trump announced the operation last week amid Iran's blockade, but suspended it two days later following Tehran's signal to 'make a deal.' • The pause supports a fragile ceasefire, with the U.S. now clearing the strait without active escorts, aiming to de-escalate tensions.

• Chinese semiconductor equipment makers CCtech and Nextool Technology are deepening presence in SEA's OSAT centers as Malaysia and Singapore emerge as packaging and testing hubs. • Expansion driven by global supply chain shifts, southbound strategies, surging AI demand, and power electronics growth. • The moves signal a new upcycle for test and packaging equipment amid regional semiconductor boom.

Iran war is driving up prices for fuel and raw materials, says survey Business live – latest updatesConstruction companies in the UK are experiencing some of the sharpest cost rises in nearly 30 years as the war in Iran drives up prices for fuel and raw materials, according to a closely watched survey.The poll of UK construction companies found that input cost inflation – which accounts for expenses such as raw materials, energy and labour – rose last month to the highest level since June 2022 when there was a spike in commodity prices caused by Russia’s invasion of Ukraine. Continue reading...

• India announced it will continue banning bilateral sports events with Pakistan while permitting Pakistani athletes to compete in multilateral tournaments hosted in India. • The policy shift aims to position New Delhi as a global sports hub, as stated in an official release from New Delhi on Thursday. • This comes amid ongoing geopolitical tensions, balancing diplomacy with national security concerns in sports diplomacy.

Partnership between top startup DeepL and Amazon comes amid concern about Silicon Valley’s monopoly over digital infrastructureAI companies in Europe risk losing their world-leading status in the field of machine translation, industry figures have said, after the decision by one of the continent’s leading startups to partner with Amazon’s cloud computing division provoked alarm.While businesses in the EU have generally lagged behind the US and China in AI adoption, a small group of European companies have cornered the global market for high-quality machine translations for professional use. Continue reading...

• Spyware detections against Singapore organisations more than doubled in 2025, marking the sharpest increase in the region amid escalating cyber threats. • Southeast Asia recorded an 18% rise in spyware attacks during the same period, indicating a broader regional vulnerability trend. • The surge underscores growing cybersecurity risks for businesses across the region and highlights the need for enhanced defensive measures and threat intelligence.

FCA focuses on marketing, misleading ads, unfair exit fees and people being signed up without their permissionThe City regulator has launched a review of claims management companies amid concerns that firms are misleading victims of financial scandals, such as car finance, about their compensation.The Financial Conduct Authority (FCA) said some companies were pursuing “aggressive marketing, misleading advertising and unfair exit fees”. Continue reading...

• Indian cybersecurity companies are deploying in-house AI agents built on large language models to combat threats. • These AI agents reduce software vulnerability detection and remediation times from days to hours. • The acceleration matches attackers' machine-speed operations, where human response windows shrink to near zero.

• Moody's has identified India as one of the most resilient economies globally, demonstrating strong market stability through recent international financial disruptions without significant capital market access constraints. • The rating agency noted that India maintained limited and short-lived movements in sovereign credit spreads, contained currency depreciation, and stable bond yield volatility during episodes of global stress. • India's central bank and institutional framework successfully anchored investor confidence and smoothed currency volatility, setting it apart from weaker peer economies facing similar external pressures.

Agreements with Microsoft, Google DeepMind and xAI focus largely on recognizing cybersecurity, biosecurity and chemical weapons risksThe US government has struck deals with Google DeepMind, Microsoft and xAI to review early versions of their new AI models before they are released to the public.The Center for AI Standards and Innovation (CAISI), part of the US Department of Commerce, announced the agreements on Tuesday, saying the review process would be key to understanding the capabilities of new and powerful AI models as well as to protecting US national security. These collaborations will help the federal government “scale (its) work in the public interest at a critical moment”, the agency said in a press release. Continue reading...

• Indian companies have invested $16.4 billion in the United States, supporting 70,800 jobs, demonstrating India's growing role as a source of foreign direct investment. • The investment figures were highlighted at the SelectUSA Investment Summit, where additional Indian deals are expected to be announced, reflecting continued expansion of India Inc. into US markets. • These investments span technology, manufacturing, and services sectors, strengthening bilateral economic ties and positioning Indian firms as significant employers in North America.

President says US navy will ‘guide’ stranded ships out of waterway but report says warship was hit by IranMiddle East crisis – live updatesThe world’s shipping industry has questioned if vessels will be able to travel safely to and from the Gulf after Donald Trump announced his latest plan to open the strait of Hormuz.The US president wrote on Monday that the navy would “guide” stranded ships out of the waterway, writing on his social media site Truth Social that the operation, “Project Freedom”, would be a humanitarian gesture “on behalf of the United States, Middle Eastern Countries but, in particular, the Country of Iran”. 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.

• India's top 10 most valued companies added a combined Rs 2.20 lakh crore in market capitalisation during a holiday-shortened week, with the BSE Sensex climbing 249.29 points or 0.32 per cent. • Reliance Industries emerged as the biggest gainer, adding Rs 1,39,655.8 crore to reach Rs 19,36,303.30 crore, while Bharti Airtel surged Rs 43,503.51 crore to Rs 11,49,222.13 crore and TCS gained Rs 27,569.83 crore. • Six of the top-10 firms faced a combined valuation erosion of Rs 1.24 lakh crore, with HDFC Bank, SBI, ICICI Bank, L&T, HUL, and LIC all declining during the volatile trading environment.

Exclusive: Brainchild of Dominic Cummings, Aria is aimed at funding ‘crazy’ scientific projects to benefit the UKBritain’s “invention agency” has pledged £50m of UK taxpayer money to US tech companies and venture capital projects.Dreamed up by Dominic Cummings to fund “crazy” ideas, the Advanced Research and Invention Agency (Aria) is meant to “restore Britain’s place as a scientific superpower”. Continue reading...

• Mainland Chinese companies surged to second-largest investors in Singapore's fixed assets in 2025, capturing 21% of S$14.16 billion (US$11.07 billion) total, up from 2.5% the prior year amid the city-state's safe-haven appeal. • Key deals included CNQC Realty (Prime), Forsea Residence, and Jianan Realty Investments buying a 145,500 sq ft Dover Drive site for S$951 million in Q1 2026, projected to yield 625 residential units. • Europe held top spot at 25% while US share dropped to 17.3% from 55.5%; other transactions featured SingHaiyi Group and Haiyi Holdings acquiring Bayshore Road parcel for S$658.9 million (515 units) and Qingjian Realty group's S$315 million Media Circle buy (345 flats).

Insolvency firm points to tax rises, staff costs and shaky consumer confidence after number increases to 62,193The number of UK businesses in “critical financial distress” has risen by more than a third over the past year, according to insolvency practitioners, as companies contend with a “slew of increased taxes” and the impact of the Middle East conflict.Hospitality and leisure firms have been faring particularly badly because of shaky consumer confidence, and rising taxes and staff costs, according to research by the restructuring company Begbies Traynor. Continue reading...

Utility bills are up as much as 40% in some regions, and companies shut off power to customers 13m times in 2025The US’s top utilities’ CEOs enjoyed a 16% pay raise last year – to an average of $12.3m – even as consumers shoulder the pain from high bills spurred by continuing inflation, the Iran war and datacenter growth, a new review of industry financial documents shows.Utility bills are up as much as 40% in some regions since 2021, and, nationwide, utilities shut off power to customers 13m times last year, federal data shows. Continue reading...

Climate group calls for urgent windfall tax on excess fossil fuel profits, as delegates tell Colombia conference their nations are sufferingThe Middle East oil and gas crunch will impose as much as a trillion dollars of additional costs on the global economy while petroleum companies rake in spectacular profits from elevated fuel prices, analysis has revealed.The uneven distribution of risk and reward comes amid rising concern that the US-Israeli attack on Iran is worsening inequality, poverty and hunger across a world that has become dangerously dependent on fossil fuels. Continue reading...