Talks

Sticking points to build beauty powerhouse included which family would hold balance of power, according to FTBusiness live – latest updatesThe US cosmetics company Estée Lauder has ended merger talks with its Spanish rival Puig to create a fashion and beauty retailer worth almost $40bn (£30bn/€34.5bn) after failing to agree which would hold the balance of power in the combined group.Estée Lauder is one of the world’s biggest manufacturers of skin care, makeup and fragrances with a portfolio that includes Clinique, Bobbi Brown and Tom Ford Beauty. Continue reading...

• Asian stocks rose on Friday as investors maintained optimism for a breakthrough in U.S.-Iran peace talks, despite ongoing disagreements over key issues. • The U.S. dollar reached a six-week high while oil prices experienced volatility amid the geopolitical uncertainty. • In South Korea, the Interior Ministry announced it will stop offering products from companies that trivialize the nation's democratic history following a controversial Starbucks Korea marketing campaign.

• Asian stocks rose on Friday, May 22, as investors maintained a positive outlook amid ongoing diplomatic efforts. • The U.S. dollar climbed to a six-week high, reflecting shifting market sentiment and currency volatility. • Market participants are closely monitoring US-Iran talks, as the outcome of these negotiations could significantly impact global oil prices and geopolitical stability.

Exclusive: Workers sign petitions over applications of AI by governments for defence and intelligence, and vote to unioniseGoogle DeepMind has agreed to enter formal talks with UK tech workers that could lead to trade union representation, in a groundbreaking move that comes amid growing staff concerns about the use of its AI by the US and Israeli governments’ defence and intelligence.The artificial intelligence arm of the multi-trillion dollar Google empire, led by the Nobel prize winner Demis Hassabis, has agreed to meet the Communications Workers Union and Unite at the Advisory, Conciliation and Arbitration Service (Acas) after several hundred workers based at its London headquarters earlier this month voted to unionise. Continue reading...

Ukrainian president says Europe must ‘have a strong voice and presence’ amid search for candidate who could lead any talks with PutinUkraine’s president Volodymyr Zelenskyy suggested last night that the time has come for Europe to pick its preferred negotiator for eventual peace talks with Russia.After talking with the European Council president, António Costa, Zelenskyy said they agreed that “Europe must be involved in the negotiations,” and to “have a strong voice and presence in this process.” Continue reading...

• Asian equities fell on Friday after a U.S. trade official said chip export controls were not discussed in detail during Thursday’s U.S.-China talks, pressuring semiconductor shares across the region. • South Korea’s KOSPI led losses, dropping 6.3%, while Japan’s Nikkei 225 fell 2.1%, Hong Kong’s Hang Seng lost 1.6% and mainland China’s CSI 300 eased 0.8%. • The move matters because chip policy is central to Asia’s technology trade and investor sentiment, while the stronger dollar and higher Treasury yields added to risk-off pressure.

Visit comes after US-Cuba relations deteriorated significantly, with Washington imposing a fuel blockade on the island in JanuaryCIA director John Ratcliffe met Cuban officials in Havana on Thursday as a way to improve dialogue between the US and the communist-run island, the Cuban government said.The meeting took place “in a context marked by the complexity of bilateral relations, with the aim of contributing to the political dialogue between both nations”, a statement said. Continue reading...