Author: Arabian Media staff

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The European Space Agency is seeking €1bn to develop a new satellite network providing military-grade intelligence to the EU as it prepares to push for the biggest budget in its 50-year history.Josef Aschbacher, the ESA’s director-general, said the agency was, at the request of its member states and the EU, exploring a network capable of gathering “very high resolution optical radar data”, with computing and artificial intelligence capabilities on board. “This will be something quite significant,” Aschbacher said.The cost of delivering this,…

The chip maker unveiled its Instinct MI350 Series GPUs on Thursday as it looks to gain ground in the AI race. Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Shares in mobile payments group Chime surged on the company’s debut in New York, underscoring investor optimism for fintech amid a burst of activity in the US initial public offerings market.Chime opened on Nasdaq at $43 a share on Thursday, 59 per cent above its $27 IPO price, to give the group a fully diluted market capitalisation of about $17bn. The shares edged down to $40 in early-afternoon trade. About 32mn shares were sold, raising $864mn for the company. Chime offers no-fee banking services…

Thursday’s deadly crash struck at Boeing’s most ambitious and one of its most commercially successful jet programs — a coveted airplane that airlines the world over gladly wait years to receive. Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The crash of an Air India flight bound for London comes at a pivotal time for Boeing, which has been struggling with the fallout from a series of safety and production crises. The cause of the incident involving a Boeing 787-8 aircraft is not yet known but the crash could deal a blow to the recovery plans put in place by new chief executive Kelly Ortberg. Boeing shares, which had gained more than 20 per cent since the start of the year,…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump has called Federal Reserve chair Jay Powell a “numbskull” for not cutting interest rates, saying the White House may “have to force something” if the US central bank does not reduce borrowing costs. The president on Thursday repeated his calls for the Fed to cut borrowing costs by a full percentage point — a measure Trump said would save the US hundreds of billions of dollars a year on its debt. “We are going to spend $600bn a year…

New research shows how these overlooked stocks can have big potential — in and out of your retirement investments. Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Excessive alcohol is bad for your investment returns as well as your health. Once considered a defensive staple, shares of the biggest alcoholic drinks makers have lost their allure. Across large parts of the developed world, people — particularly younger consumers — are drinking less. It is not just Gen Z’s idiopathic indifference. Weight-loss drugs and the growing legalisation of cannabis in the US may also be tempering alcohol intake. The downturn has been most noticeable among producers of wine and spirits. Shares…

Chime’s stock soars in its debut, to extend the streak of IPOs that have witnessed strong investor demand. Source link

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldUS universities have launched a fierce last-minute lobbying campaign against a proposed tax increase in Donald Trump’s “big, beautiful bill” ahead of its expected approval by the Senate in the coming weeks.The proposal in the president’s signature fiscal legislation calls for taxes on university income from endowment investments to jump from 1.4 per cent to up to 21 per cent, depending on the size of the fund and student body.A group of elite universities, including Harvard and Princeton, are lobbying…