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Boston Scientific invests $1.5 billion in MiRus with option to buy heart-valve business
U.S. medical device maker Boston Scientific said on Monday it has invested $1.5 billion in privately held MiRus LLC in return for a 34% equity stake and potential access to the startup's heart-valve business.
Health workers race to respond to Congo's fast-spreading Ebola outbreak
Medical personnel were rushing on Monday to the frontlines of a new Ebola outbreak in eastern Democratic Republic of Congo whose late detection and quick spread have alarmed health experts.
US states reject anti-vaccine bills as public health groups fight MAHA
Dozens of state anti-vaccine bills backed by "Make America Healthy Again" supporters have failed after public health groups won over Republican state lawmakers, marking a series of defeats for the backers of Health Secretary Robert F. Kennedy Jr.
Zegna chair says Middle East business situation is improving
Italian luxury menswear group Ermenegildo Zegna has registered an upturn in Middle East business in recent weeks after disruption caused by the Iran conflict and expects the recovery to be complete after the summer, its executive chairman said.
Iran war saddles global companies with $25 billion bill
The U.S.-Israeli war with Iran has already cost companies around the world at least $25 billion - and the bill is climbing, according to a Reuters analysis.
Report: Gov. Landry in Greenland for business conference
BATON ROUGE, La. (Louisiana First) – Governor Jeff Landry is in Greenland to attend a business conference. According to Reuters, Landry is there to attend the ‘Future Greenland’ business conference w...
Philippines to convene court for VP impeachment amid political turmoil
The Philippine Senate was due to convene as an impeachment court on Monday that could decide the future of Vice President Sara Duterte, with a heated battle between two rival political camps set to be front and centre in the trial.
NextEra to discuss paying about $76 per share for Dominion, Bloomberg News reports
U.S. power firm NextEra Energy is discussing a mostly stock deal for Dominion Energy that would value the smaller Virginia-based utility at about $76 per share, or around $66 billion, Bloomberg News reported on Sunday.
France's Publicis to buy US data firm LiveRamp in $2.2 billion
French advertising group Publicis Groupe has agreed to acquire U.S. data collaboration company LiveRamp for a total enterprise value of about $2.2 billion in an all-cash deal, it said on Sunday.
South Korea says it will pursue all options to avoid Samsung strike
South Korea will pursue all options, including emergency arbitration, to avoid a labour strike at the country's biggest employer Samsung Electronics and to minimise any damage if one does occur, its prime minister said on Sunday.
WHO declares Ebola outbreak in Congo, Uganda a global health emergency
The World Health Organisation on Sunday declared an Ebola outbreak caused by the Bundibugyo virus in the Democratic Republic of Congo and Uganda a public health emergency of international concern.
Ultra-Orthodox conscription dispute pushes Israeli government to brink
Israeli government faces collapse as coalition parties clash over military draft exemptions for Haredi constituents.
Bill Ackman says Alphabet stake sale not a bet against the company
Billionaire investor Bill Ackman said on Saturday that the sale of Google parent Alphabet's shares was not a bet against the company.
Consumers sue Amazon for not refunding Trump tariff costs
Amazon.com Inc was sued on Friday by consumers seeking refunds for costs passed on to them in the form of higher prices as a result of tariffs the U.S. Supreme Court later concluded had been unlawfully imposed by President Donald Trump.
US moves to end job protections for hundreds of health department workers
President Donald Trump's administration on Friday moved to strip U.S. Department of Health and Human Services workers of civil service job protections, according to an email reviewed by Reuters.
Canada’s Carney travels to Alberta as separatists face legal setback
Trip comes as court rules separatists did not follow proper procedure in collecting referendum signatures.
Uganda confirms outbreak of Ebola virus disease
Uganda on Friday confirmed an outbreak of the highly infectious Ebola virus disease, the health ministry said, adding that the outbreak involves the Bundibugyo strain.
Health Rounds: Common ADHD medicines help treat cancer-related fatigue
We also report on findings that help explain why the flu can be particularly dangerous for pregnant women and that open the door to potential future treatments.
BT revives talks for international business sale, Sky News reports
UK's BT is reviving talks over a possible sale or partnership of its struggling international business a year after halting negotiations, Sky News reported.
Exclusive: At Samsung, the global AI boom spurred a looming strike and deep divisions
A looming 18-day strike at South Korean chip giant Samsung that has triggered worries within the government, rattled foreign investors and threatened global supply chains rests on one crucial question: who should share in the spoils of the AI boom?
How a Jim Caviezel film got mixed up in a Brazilian political scandal
American actor Jim Caviezel's upcoming feature "Dark Horse," a biopic about former Brazilian President Jair Bolsonaro, has been billed by a movie industry publication as a thriller about the far-right firebrand's battle "against a corrupt establishment."
America's most powerful CEOs don't have much to show from their China trip so far
With red-carpet treatment, selfies and culinary diplomacy, America's richest and most powerful executives - from Tesla's Elon Musk to Nvidia's Jensen Huang - sought to rekindle business ties with China this week at a leadership summit in Beijing.
US seeks indictment of former Cuban leader Raul Castro
The potential charges relate to Cuba's 1996 downing of humanitarian planes, US media outlets report.
Britain's pound, stocks and bonds fall on political uncertainty, global inflation angst
British government bonds, stocks and sterling fell on Friday, as domestic political uncertainty clashed with global worries about an inflationary shock, leaving UK assets in the mire.
Chartbook 449: Voldemort on Threadneedle street. The Bank of England and the "haunted house" of English politics.
Imagine the scene: In some Harry Potter version of 21st-century London, a group of deathless UK Treasury officials gathered from across the last century huddle over warm pints and glasses of Chardonnay. Around the table there are officials from the 1920s, the 1930s, the 1970s, 2022 and today. Inevitably, in May 2026, the subject of conversation is the disintegration of the current Labour government. Despite its huge majority in parliament, it has been reduced to tatters by catastrophic local election result. These exposed the fact that rather than having a government with a clear popular majority, the UK is like most other modern societies divided into 5 segments each of which commands between 26 and 16 percent of the vote. Perhaps unsurprisingly, the leadership at Nos 10 and 11 Downing Street - where the Prime Minister and the Chancellor (Treasury Secretary) work - seem paralyzed. They are caught between mounting discontent over unfairness and the cost of living, and tough fiscal strictures that push them into making unpopular spending decisions. In the London pub, the Treasury officials from across the ages, can barely hide their satisfaction at the latest display of democratic politics caught in the vice-grip of financial logic. “Remember the mur d’argent and the banker’s ramp?” “Just like yesterday!” There are smirks around the table. Then the representative of 2026 pipes up: “One thing you have to say about the current lot (referring to the latest hapless Labour government), you don’t have to teach them about the bond market!” There is a murmur of ascent from the Treasury Mandarins. The trauma of the fiscal crisis of September-October 2022 sits deep. Back then, in the final stages of Tory decay, a ‘mini budget’ that challenged fiscal orthodoxy led to a brief but fierce panic in one of the oldest government bond markets in the world (aka gilt market). Now all you have to do is to mention the “bond market” to hush debate. [ Paul Mason@paulmasonnews In the name of public service, and as ex-economics editor of BBC Newsnight, I offer to do a zoom call, tonight, with any Labour MP who wants to understand why bond markets do not "fall into line" with governments. 1/ 3:57 PM · May 12, 2026 · 466K Views 224 Replies · 674 Reposts · 3.93K Likes ](https://x.com/paulmasonnews/status/2054229532404519082?s=20) “And the funny thing is”, the young man in the huddle continues, “they don’t even want to talk about … ”. There is a sudden hush. Significant looks are exchanged around the table. About? One of the senior figures puts down his glass with a decisive “clink”. He-Who-Must-Not-Be-Named has entered their thoughts. Meanwhile, a few miles away in a grubby pub in Bloomsbury, two conspirators from the camp of Critical Macrofinance huddle over cans of low-alcohol IPA. They look at each other and blurt out loud: “The Bank!” “Everyone in the bloody Labour party is talking about the bond market. But why aren’t they even mentioning … the Bank of England!?” “Why is no one talking about Voldemort?” In Paul Mason’s blogpost, after much chest-thumping about basic fiscal logic, the basic point about the Bank of England is buried in the fine print at #3 in his list of suggestions as to what a radical Labour government might actually be able to do! [ Conflict & Democracy Down with the bond market! Down with gravity! It may seem unfair to focus on Labour MP Paula Barker for her off-the-cuff assertion that the bond market would have to “fall in line” with Andy Burnham, should he replace Keir Starmer as prime minister. But Burnham himself told the New Statesman that Labour had to “get beyond this thing of being in hock to the bond markets… Read more 2 days ago · 100 likes · 3 comments · Paul Mason ](https://htsf.substack.com/p/down-with-the-bond-market-down-with?utm_source=substack&utm_campaign=post_embed&utm_medium=web) Back in Bloomsbury they shake their heads and ask: “Didn’t we learn anything from the Eurozone crisis?” Meanwhile, as if summoned to the conversation by some higher force, the “pink pages” announce: “The days of ultra-cheap government borrowing have come to an end” and Martin “Whizzard” Wolf publishes the graph of the season Look at the UK in 2026, perilously positioned on the upper edge of the pack. No wonder no one in London needs any lessons about the “bond market”. But, look again. Imagine how they feel in Rome. What is London’s nightmare in 2026? The nightmare is that you end up like Italy in the early 2010s during the Eurozone crisis. Once comfortably situated in the middle of the pack, watching with horror as your ten-year yields explode to 7 percent and “spreads” become a national nightmare. One of the largest economies in Europe, a founding member of the euro, stigmatized. But the message of the Italian experience is ambiguous. After all, the stigma didn’t last. In 2026, Italy borrows at rates lower not only than the UK but the US. The US, which, as everyone knows, enjoys the “exorbitant privilege” of being the issuer of reserve, safe asets. What kind of magic is this? How did Italy, in the space of fifteen years, go from being good, to bad and back again? Which brings us back to our dissident friends in their Bloombury boozer and their memories of the Eurozone crisis. Italy never was Britain - with its ongoing fiscal deficits. Without interest payments, on primary balance, from 2000 to 2020 Italy ran a tight fiscal ship. Even in 2008 it barely went into deficit and when it was being put on the rack in the early 20210s its primary surplus matched that of austere Germany. So, what happened? How did it end up stigmatized? Of course Italian politics didn’t help. Berlusconi was at the helm and he had legal issues. But amongst friends in the Bloomsbury pub, Berlusconi is a sideshow, the name we whisper to each other is “Trichet”. From 2004 to 2011 the ECB was headed by Jean-Claude Trichet, ex of the French Treasury, more German than the Germans. After 2009 as the news of the Greek fiscal disaster broke, the European bond markets wento into panic mode and Trichet began a brutal game of cat and mouse. Between 2009 and 2011, Trichet intervened in the bond market to help, only when he thought he had compliance with austerity. When he thought they were uncooperative, he withdrew. In the summer of 2011, he even made direct suggestions to his Italian counterparts in Rome, as to how Italy should be governed. It was this cat and mouse game that drove the bond markets crazy and exposed Italy to a violent squeeze. When Mario Draghi took over the ECB at the end of 2011 and declared “whatever it takes”, the pressure on Italy, gradually eased. It is that starring role that has made Draghi into the towering figure in European politics that he remains today. So now you see why voices in London hush when it comes to the Bank of England. “The bond market” isn’t an irresistible objective force like the weather or an avalanche. It can appear like that. But that depends on the way it is being handled, or not handled by the central bank. Which is why the silence about the Bank of England in London right now is so significant. If you think this all sounds a bit fishy, coming from a left-liberal Keynesian like myself, well, let me introduce you to Robin Brooks, who, to put it mildly, plays on a different quidditch team to me. Here, from the position of a fiscal hawk is Robin’s celebratory account of the Bank of England’s role since 2022; In October 2022, at the height of the bond market blow-up in the UK, something incredible happened. Governor Andrew Bailey told British pension funds the Bank of England would end its support program for the country’s fragile gilt market, drawing a line under how much help the central bank was willing to give to exposed pension funds and - implicitly - the government. By the end of that week, Kwasi Kwarteng - the finance minister - had resigned. Prime Minister Liz Truss would soon follow. This episode is so incredible because it contrasts with what happened in the Euro zone earlier that year. Bond markets in Spain and Italy were under pressure amid high inflation and rising interest rates. In the middle of this, Mario Draghi - Italy’s Prime Minister - resigned, compounding pressure on bond markets of high-debt countries on the Euro periphery. Unlike the Bank of England, the ECB caved. It bought Italian and Spanish government bonds in an effort to cap yields and introduced a new tool that signaled to markets it might do such caps more frequently going forward. Faced with pressure on bond markets, the ECB capitulated to political pressure from high-debt countries like Italy and Spain. The Bank of England stood its ground and toppled the Truss government. This kind of thing has long-lasting consequences. It means markets price a higher probability of yield caps in the Euro zone, which keeps Italian and Spanish yields artificially low, while markets feel free to push up UK yields without fear of central bank intervention. As I flagged in yesterday’s post, this means you really can’t compare UK yields to those of other high-debt countries. The UK looks worse, but only because its central bank isn’t interfering with markets. There’s more to this than just that 2022 episode. The Bank of England has also been much more aggressive in its quantitative tightening (QT) than other central banks. If one motivation for quantitative easing (QE) is to lower bond yields - especially longer-dated ones - then it stands to reason QT pushes yields up. The left chart above shows a four-quarter moving average of UK government debt issuance (black line) in percent of GDP and which sectors absorb this issuance, including the Bank of England (blue bars). The right chart above compares the Bank of England’s accumulation or run-off of government bonds (blue line) with that of other central banks, where this blue line is the same as the blue bars in the left chart. The Bank of England was quicker and more aggressive than other central banks in downsizing its bond holdings, so UK yields will have risen more than elsewhere also for this reason, not just because of Governor Andrew Bailey’s remarks in October 2022. Back in October 2025, after a conversation in New York with friends in British politics, my sense of dysphoria was such that I raised the issue of the Bank of England openly in the FT Since 2008, the UK has slid into a deep economic and political predicament. Growth has stagnated to a degree far worse even than in the 1970s. The Tory leadership’s wager on the Brexit referendum spectacularly backfired, leaving the UK isolated from Europe and at the mercy of its special relationship with the US, many of whose political class regard the UK as a basket case. After years of austerity, the Labour party lurched to the left and then back to the centre. The Tory party has been eclipsed by the populist nationalism of Reform. Any British government should be worrying first and foremost about how to restart growth. Instead, Keir Starmer is beset by shades of the gilt market panic triggered by the Liz Truss government in 2022. The debt level is higher than in recent years, but there is no cause for panic. UK debt is at far from critical levels and of long duration. Whether you want to “take back control” or launch progressive economic policy, a democracy dogged by fear of bond market vigilantes is unhealthy. In a country that is a monetary sovereign, this climate points to one thing: a disconnect between the government and the central bank. Since 1997, the independence of the Bank of England has become a sacred cow. But independence is what you make of it. And in the wake of the gilt market crisis of September 2022, relations between the Bank of England and the UK government need a reset. In normal times, there is no doubt that an inflation-targeting independent central bank can serve a country well. But since 2008, the UK and other advanced economies have not had the luxury of such simple problems. To their credit, central bankers around the world have not stood on orthodoxy. After 2008, the US Federal Reserve rescued the global banking system and, through quantitative easing, it stabilised the Treasury market in the face of huge deficits. In Europe, things were trickier. Both the Bank of England under Mervyn King and Jean-Claude Trichet’s European Central Bank played cat and mouse with national governments. This was a high stakes wager that between 2010 and 2012 escalated bond market tension and triggered a disastrous turn to austerity. Shaken by the impact of those shocks, their successors, Mark Carney and Mario Draghi adopted a more protective stance (assuming you were not the government of Greece). Recall that Draghi’s legendary slogan, “Whatever it takes”, was uttered to face down the City of London’s bond vigilantes. In 2015, Draghi launched QE — financial repression by another name. In 2016, Carney used the authority of the Bank of England to stabilise markets following the vote for Brexit, an exemplary demonstration of how central banks can underpin democratic choice, even when those choices are wrong headed. All these were independent central bankers steeped in the best practice of the 1990s, who recognised that historic crises demanded radical action. It was the price surge of 2021-2023 that poisoned the atmosphere. Though the shock came mainly from the supply side, central banks ended up in the dock. Nowhere more so than in the UK. The Bank of England reacted with aggressive normalisation. Faced with a cost of living crisis, the governor called for workers to accept real wage cuts. In early 2022, as gas prices were at record levels and Russia’s army was poised to invade Ukraine, the Bank adopted a stringent programme of quantitative tightening, elevating interest rates. When the Truss government got itself in trouble, the Bank took almost a week to come to the rescue. Rather than enacting a charade of normality, it is time to recognise that in 2025 the UK faces a period of historic transition. To meet this challenge, what is needed is a new concordat with the Bank. This should not ignore inflationary pressures or the long-run trajectory of debt, but should affirm the priority of reviving investment-led growth. One could follow Donald Trump in demanding interest rate cuts. The Bank could shadow the ECB in its commitment to capping Eurozone yields. But the top priority should be to lay the ghost of September 2022. The Bank’s slowing of QT last month was a concession. An immediate and complete end would send the right signal. Such a concordat will not by itself restore sanity to politics, solve the housing problem or rebuild the NHS. But it would help to lift the fear of bond market crisis, which is paralysing the effort by democratic politicians to answer the fundamental questions facing the nation. Now, that call for a new concordat between government and Bank of Englands seems more urgent than ever. The problem is that in October 2025, Starmer still had some authority. Today the government is in tatters. And when you are the “under the harrow” - to echo a phrase of Montagu Norman’s from the 1920s - it is the worst possible time to consider institutional change. To make general arguments at a time of crisis can only seem like special pleading rather than a general argument for long-term change. The same, unfortunately, is also true for the other basic institutional reform that Britain urgently needs i.e. the abolition of the out-dated first past the post electoral system and its replacement by a moderated form of proportional representation. And thirdly - whilst we are saying the quiet parts out loud - Britain needs to reopen the question of EU membership. What the local election results of 2026 show is that this remains a key issue. And what they also show is that there is a clear majority that would favor a return. Until these basic features of Britain’s political economy are addressed the country will carry on its politics as though in a haunted house, governed by governments that lack actual majorities, conjuring up false constraints whilst ignoring the real ones. This one is for DG and MI. I love writing the newsletter. If you enjoy it too and fancy buying me a coffee once a month, you know what to do. Click below! Subscribe
Africa CDC says Ebola outbreak confirmed in Congo's Ituri province
The Africa Centres for Disease Control and Prevention (Africa CDC) said on Friday that there was a confirmed outbreak of Ebola virus disease in Congo's Ituri province.
Hantavirus outbreak tests post-COVID health communications playbook
A rodent-borne virus with a scary name. A mid-ocean cruise ship in quarantine. Several people dead and more falling sick.
Trump and Xi set for second day of talks after Taiwan warning
U.S. President Donald Trump and Chinese President Xi Jinping are set to meet on Friday to wrap up a two-day state visit that has featured pomp and business deals but also a stark warning from Xi that mishandling the Taiwan issue could push U.S.-China relations to a very dangerous place.
Taming UK yields depends on economics not politics
Long-term government borrowing costs above 5% are higher than other developed economies and more sensitive to shocks. It’s tempting to blame political upheaval, but structural factors matter more. The solution is to shrink macroeconomic imbalances and revive capital markets.
Jerome Powell: Steering the US Fed through COVID-19 and political pressures
Trump’s aggressive push for interest rate cuts shaped Powell’s Fed legacy during his tumultuous leadership.
Anthropic, Gates Foundation launch $200 million partnership for AI in health, education
Anthropic and the Gates Foundation have pledged $200 million to back artificial intelligence-related public goods and areas including health and education, they said on Thursday.
Anthropic, Gates Foundation launch $200 million partnership for AI in health, education
SAN FRANCISCO, May 14 (Reuters) - Anthropic and the Gates Foundation have pledged $200 million to back artificial intelligence-related public goods and areas including health and education, they said on Thursday. Support from Anthropic's technical staff and usage credits for its Claude AI will account for its half of the financial commitment, while the Bill Gates co-founded Gates Foundation will provide grant funding, program design and expertise, officials told Reuters.
US business inventories post biggest gain in nearly four years in March
business inventories increased by the most in nearly four years in March, boosted by stocks at wholesalers, government data showed on Thursday.9%, the largest gain since June 2022, after climbing 0.
Scientists dig up Southeast Asia's largest dinosaur in Thailand
Along a meandering river in a warm and arid region that is now Thailand roughly 113 million years ago, a plant-eating behemoth almost 90 feet (27 meters) long browsed on the treetops without much fear of predators due to its sheer size. This was Nagatitan chaiyaphumensis, the largest-known dinosaur from Southeast Asia.
Pound dips as political crisis engulfs Britain
The pound dropped on Thursday, as a political crisis in the UK escalated with the resignation of health minister Wes Streeting turning up the heat on Prime Minister Keir Starmer.
UK health minister Wes Streeting resigns
British health minister Wes Streeting resigned from government on Thursday, saying he had lost confidence in Prime Minister Keir Starmer's leadership.
UK opens antitrust probe into Microsoft's business software
Britain on Thursday launched an antitrust investigation into Microsoft's dominance in business software that could lead to targeted action if the U.S. company is found to have "strategic market status" in the sector.
Mapping the Market: UK politics risks dragging down the pound
UK political turbulence has pushed sterling to price levels that technical analysts expect could lead to a new round of losses.
Meta Challenges New Mexico's $3.7 Billion Plan for Teen Mental Health in Social Media Trial
By Diana Novak Jones May 13 (Reuters) - A lawyer for Meta Platforms on Wednesday argued that New Mexico's $3.7 billion proposal to address teen mental health harms goes too far, saying it would force the company to pay for mental health care for all of the state's teenagers and not just those it ...
Ford stock surges 13% on investor optimism for new energy storage business
Investor support for Ford Motor's energy storage business sent its stock soaring 13% Wednesday, the biggest single-day increase in about six years, following a note from Morgan Stanley highlighting details released by the company on Monday. Ford announced its wholly-owned energy subsidiary late last year, and it is being directed by Lisa Drake, who has been a key leader in the company's efforts around electric vehicles.
Ford stock surges 13% on investor optimism for new energy storage business
Investor support for Ford Motor's energy storage business sent its stock soaring 13% Wednesday, the biggest single-day increase in about six years, following a note from Morgan Stanley highlighting details released by the company on Monday. Ford announced its wholly-owned energy subsidiary late last year, and it is being directed by Lisa Drake, who has been a key leader in the company's efforts around electric vehicles. • After a $19.5 billion writedown on its EV programs in December, Ford announced it would launch an energy storage business, utilizing plant space in Kentucky that was previously meant to produce batteries for electric vehicles.
Meta to launch 'Incognito Chat' for private AI conversations on WhatsApp
Meta Platforms is rolling out a new "Incognito Chat" feature for its artificial intelligence assistant on WhatsApp messaging service, the company said on Wednesday, as it looks to address data privacy concerns.
Exclusive: US halting Medicare enrollments for new home healthcare and hospice providers
The Trump administration will temporarily block new home health and hospice providers on Wednesday from enrolling in Medicare, a senior administration official said, citing concerns about widespread fraud.
Exclusive-US Halting Medicare Enrollments for New Home Healthcare and Hospice Providers
By Jody Godoy May 13 (Reuters) - The Trump administration will temporarily block new home health and hospice providers on Wednesday from enrolling in Medicare, a senior administration official said, citing concerns about widespread fraud. The nationwide moratorium is the latest move by Vice ...
UK health minister Streeting preparing to resign, Times says
Britain's health minister Wes Streeting is preparing to resign and could quit as early as Thursday, the Times reported on Wednesday, adding that he is likely to mount a formal challenge for the party leadership.
Indian capital opposes Pernod's liquor plea, firm says business 'hopelessly fettered'
Regulators in India's capital are seeking to strike down French giant Pernod Ricard's fresh court challenge against rejection of its city liquor licence, which the company says has left its business "hopelessly fettered" for three years, documents show.
FDA commissioner Makary is resigning, sources say
U.S. Food and Drug Commissioner Marty Makary plans to resign on Tuesday, according to two sources familiar with the situation, the latest leadership change at the federal health department which comes after weeks of public speculation and a mounting pressure campaign.
PayPal pays $30 million to settle DOJ probe over 'DEI' investment program
PayPal agreed to pay $30 million to settle a U.S. probe over an investment program created for black and minority-owned businesses that was "unlawful" and "discriminatory," the U.S. Department of Justice said in a statement on Tuesday.
US CEOs seek China business gains from Trump-Xi summit
More than a dozen CEOs and top executives will accompany Trump on his visit.
Sterling drops as markets watch UK politics, PM Starmer's future
Sterling slid against the dollar and the euro on Tuesday as markets kept a close watch on political developments, amid growing concern that British Prime Minister Keir Starmer could step down.
Australia business confidence shaken as costs climb, survey shows
SYDNEY, May 12 (Reuters) - Australian business confidence remained mired in gloom in April, a survey showed on Tuesday, as spiking energy costs from the Middle East war squeezed profit margins and
Australia business confidence shaken as costs climb, survey shows
Australian business confidence remained mired in gloom in April, a survey showed on Tuesday, as spiking energy costs from the Middle East war squeezed profit margins and pressured investment plans.
How to make the ROI business case for direct tax automation
Discover the ROI of automated direct tax software. Learn how to build a compelling business case with measurable financial benefits and strategic advantages.
US scientists warn that termination of National Science Board hurts ability to compete with China
WASHINGTON, May 11 (Reuters) - More than 2,000 scientists warned the U. Congress in a letter on Monday that the termination of the entire National Science Board by the Trump administration hurts U.
US scientists warn that termination of National Science Board hurts ability to compete with China
More than 2,000 scientists warned the U.S. Congress in a letter on Monday that the termination of the entire National Science Board by the Trump administration hurts U.S. ability to compete with rivals like China.
Hims & Hers raises 2026 revenue forecast on strong demand for personalized care
Hims & Hers Health raised its 2026 revenue forecast on Monday, betting on increased sales for its personalized healthcare offerings.
India’s Zee Entertainment sues Reliance-Disney venture JioStar over alleged music copyright
Reuters reported that Zee is seeking $3M in damages over the alleged unauthorized use of its music…
Ambani's Jio Platforms IPO pivots to pure fundraising, no investor exits, sources say
Mukesh Ambani's Reliance Jio Platforms has pivoted to a pure fundraising for its planned Mumbai listing, selling a 2.5% stake in the offering and dropping earlier plans that would have allowed some shareholders to exit, two sources said.
China's April car sales drop for seventh month
China's car sales fell again in April, with local automakers increasingly targeting overseas markets to offset intense competition at home where a push toward higher-end models has yet to reverse the broader slowdown.
Share futures ease, dollar gains as Gulf talks teeter
Share futures slipped and the dollar climbed in Asia on Monday on signs that talks between the United States and Iran were deadlocked, leaving the vital Strait of Hormuz all but shut and sending oil prices higher.
Oil jumps as US and Iran fail to reach agreement on peace proposal
Oil prices jumped $3 a barrel on Monday as the United States and Iran failed to agree to a peace proposal drafted by Washington while the Strait of Hormuz remained largely closed, keeping global energy supply tight.
UK's Starmer launches political fightback, putting Europe ties at heart of reset
British Prime Minister Keir Starmer will begin a political fightback on Monday in a speech that says rebuilding relations with the rest of Europe will be his government's defining mission, as he moves to quell growing calls to quit.
Armani could split 15% stake among L'Oreal, LVMH, EssilorLuxottica, report says
Italian fashion house Giorgio Armani is considering selling its 15% stake in three equal parts following the designer's death, potentially bringing in three buyers he had selected as shareholders, a newspaper reported on Sunday.
Cruise ship hit by hantavirus outbreak arrives in Tenerife
The cruise ship hit by a deadly hantavirus outbreak arrived early on Sunday near the Port of Granadilla in Tenerife, Reuters footage showed, where it will anchor for the evacuation of the passengers and some of the crew.
All passengers on hantavirus-hit ship considered high-risk contacts, EU health agency says
All passengers on the cruise ship hit by a deadly hantavirus outbreak are considered high-risk contacts as a precautionary measure, Europe's public health agency said ahead of the ship's expected anchoring on Sunday off the Spanish island of Tenerife.
Israeli strike kills seven in south Lebanon, Lebanese health ministry says
An Israeli strike on the southern Lebanese town of Saksakiyeh killed at least seven people, including a child, and wounded 15 on Saturday, Lebanon's health ministry said.
Israeli Strike Kills Seven in South Lebanon, Lebanese Health Ministry Says
BEIRUT, May 9 (Reuters) - An Israeli strike on the southern Lebanese town of Saksakiyeh killed at least seven people, including a child, and wounded 15 on Saturday, Lebanon's health ministry said. The Israeli military said it had struck Hezbollah militants in the town, accusing them of ...
Business Lookahead: Trump on Tour
STORY: From Trump's trip to China, to a slew of new U.S. data releases, these are the stories to watch in business and finance in the coming week. :: Trump goes to Beijing U.S. President Donald Trump visits Beijing on Thursday and Friday.It will be his first visit to China in eight years.He'll try to lock in the trade truce agreed to in October in South Korea, and avoid a rerun of the tit-for-tat tariff battle that he set off a year ago.Fresh trade data should offer a reality check on whether a protectionist White House has managed to dent Americans' appetite for Chinese-made goods.:: Saudi Aramco posts resultsThe world's biggest exporter of crude oil, Saudi Aramco, reports first-quarter results on Sunday.The numbers are expected to show the pain from the more than two-month-old Iran war.This comes as efforts to end the conflict appeared to stall after the U.S. and Iran traded fire in recent days, with some of the biggest flare-ups in fighting in and around the Strait of Hormuz since a ceasefire began a month ago.:: U.S. economic dataA bunch of new data should give a clearer view of inflation in the U.S.Tuesday's April consumer price index is expected to rise 0.6% according to a Reuters poll.Prices at the pump are likely to loom large in the numbers.Producer price data for April on Wednesday is another inflation checkpoint after the Fed’s last meeting exposed a more hawkish tilt among some policymakers who are increasingly uneasy about price pressures.And retail sales figures on Thursday should show whether higher gas prices and other costs are starting to bite into household spending.
Exclusive: Kennedy's health officials explored US ban of some widely used antidepressants, sources say
U.S. health department officials last week explored whether they could ban certain drugs in a widely prescribed class of antidepressants as Health Secretary Robert F. Kennedy Jr. prepared to roll out a plan to reduce their use, according to two people familiar with the discussions.
VIEW April jobs report shows continued strength
U.S. employment increased more than expected in April while the unemployment rate held steady at 4.3%, pointing to labor market resilience and reinforcing expectations that the Federal Reserve would leave interest rates unchanged for some time.
Sony forecasts lower gaming business sales amid memory price surge
By Sam Nussey TOKYO, May 8 (Reuters) - Sony forecast on Friday annual sales at its gaming business would fall 6% to 4.42 trillion yen ($28 billion) due to lower hardware sales as its PlayStation 5 ages and as the industry grapples with a surge in memory chip prices. The Japanese company, however, said it expects gaming profit to rise 30% due to higher first-party software sales and the absence
Porsche AG to cut over 500 jobs as it sharpens focus on core business
Porsche AG said on Friday that it planned to cut more than 500 jobs as it discontinues three subsidiaries to focus on core business.
Fed's Miran hopes Powell staying at Fed is transitional
Federal Reserve Governor Stephen Miran said on Friday that he hopes current central bank Chair Jerome Powell will stay on as a governor only for a short period of time.
SoftBank cuts target for OpenAI margin loan by 40% to $6 billion, Bloomberg News reports
SoftBank Group has downsized plans for a $10 billion margin loan backed by its OpenAI stake after hesitation from some creditors, Bloomberg News reported on Friday, citing people familiar with the matter said.
Russia's internet crackdown hobbles small businesses
Russian dogwear entrepreneur Natalia Kukovinets has had to switch messaging apps multiple times to stay in touch with customers, one of many web-dependent businesses struggling with the Kremlin's widening internet crackdown.
Russia's internet crackdown hobbles small businesses
Russian dogwear entrepreneur Natalia Kukovinets has had to switch messaging apps multiple times to stay in touch with customers, one of many web-dependent businesses struggling with the Kremlin's wide...
US job growth likely slowed in April as boost from temporary factors fades
U.S. job growth likely slowed in April as the boost from warmer weather and return of striking health workers faded, but that would not signal a material change in labor market conditions, with the unemployment rate expected to have held steady at 4.3%.
Sony forecasts 11% rise in annual profit but lower sales
Sony forecast on Friday its operating profit for the year ending March 2027 would rise 11% to 1.6 trillion yen ($10.20 billion), with higher profit but lower sales at its main gaming business.
War, energy and politics hamper Eastern Europe's efforts to keep deficits in check
The Romanian government's political implosion this week in a no-confidence vote has cast a shadow over a region grappling with rising debt, defence spending and energy costs that are unsettling investors and ratings agencies alike.
Is the FDA Really Suppressing Science? Plus. . .
It’s Thursday, May 7. This is The Front Page, your daily window into the world of The Free Press—and our take on the world at large. Today: Aaron MacLean says Trump is poised to snatch defeat from the jaws of victory in the Iran war. Joe Klein on the life of CNN founder Ted Turner. Jillian Lederman on why cruise ships are here to stay. And much more. But first: Is the FDA suppressing science? On Tuesday, The New York Times published a story with an alarming takeaway. “FDA Blocked Publication of Research Finding Covid and Shingles Vaccines Were Safe,” read the headline. It is the latest in a string of stories that all have the same message: The Food and Drug Administration (FDA), and other agencies, are engaged in a cover-up—and silencing scientists trying to get the word out about the Covid vaccine. What all these stories suggest—some more subtly than others—is that the outsiders now running the public health establishment, officials such as Marty Makary at the FDA and Jay Bhattacharya at the National Institutes of Health, are on a revenge tour. That they are doing harm to the country to get back at the scientists and bureaucrats who ostracized them for deviating from the public-health consensus during the pandemic. It’s a seductive narrative. But is it true? That’s the question we address in our latest editorial. —The Editors Read [ Marty Makary's FDA Has All the Right Enemies ](https://www.thefp.com/p/marty-makary-vaccine-study-fda) [ Trump Blinks First ](https://www.thefp.com/p/iran-peace-deal-pakistan-trump-strait-of-hormuz) Aaron MacLean In return for no detectable concessions, President Trump this week gave up on forcing open the Strait of Hormuz. Now, the Trump administration looks desperate for a deal to end the war with Iran. It’s easy to understand the desire to end the war, but are they blowing the chance at victory? Aaron MacLean makes sense of the administration’s latest moves—and Iran’s response—in his column today. Read full story Aaron MacLean and Niall Ferguson: Live in New York City Join Aaron MacLean and Niall Ferguson on May 19 for a live recording of School of War at the iconic New York Historical. In a conversation as timely as it is wide-ranging, Aaron and Niall will explore the strategic stakes of the moment, including the Middle East, China, and the future of American leadership on the global stage. Get Tickets Now [ Ted Turner, the Optimist Who Built CNN ](https://www.thefp.com/p/ted-turner-cnn-tribute) Joe Klein The man who gave us CNN and the 24-hour news cycle, Ted Turner, died Wednesday at the age of 87. Today, political writer Joe Klein—who almost ghostwrote Turner’s autobiography—remembers his friend, the American media mogul who stood out for his idealism and lack of a filter—something that got Turner in trouble more than once. “His was not a traditional intelligence, but one of horizon: Ted saw things before other people did,” Joe writes. Read full story [ Nothing Can Sink the Cruise Ship ](https://www.thefp.com/p/cruise-ship-hantavirus) Jillian Lederman A viral outbreak on a cruise ship that left three passengers dead has left some people wondering: Are cruise ships on the way out? Not so fast, says Jillian Lederman, who has been on many a cruise herself. Read her piece on why 38 million people a year take a cruise—and aren’t about to stop. Read full story [ The Great Writers Who Were Terrible People ](https://www.thefp.com/p/the-great-writers-who-were-terrible) Shilo Brooks Throughout history, some of the greatest literary geniuses have also been immoral bigots. In the latest episode of Old School, Shilo Brooks is joined by Eli Lake for a conversation about those geniuses, from Voltaire to Norman Mailer and Roald Dahl—and why we should read their work despite their odious prejudices. Listen on MORE FROM THE FREE PRESS [ Inside the Digital Intifada ](https://www.thefp.com/p/digital-intifada-social-media-hamas-terror) Warren Kinsella Read full story [ This Week in American History: Trump’s Over-Arching Problem ](https://www.thefp.com/p/this-week-in-american-history-trumps-over-arching-problem) Jonathan Horn Read full story [ Humanity Is Still Evolving—and Fast ](https://www.thefp.com/p/humanity-is-still-evolvingand-fast) Razib Khan Read full story THE NEWS Thirteen D.C. Metropolitan Police officers have been placed on administrative leave and could face termination after an internal investigation found evidence that crime statistics were manipulated to make the city look safer. The Republican-led House Oversight Committee previously alleged that former D.C. police chief Pamela Smith pressured officers to skew data. Tennessee Republicans unveiled a redrawn U.S. House map yesterday that would split up Memphis’s black-majority Democratic district, the latest move in a nationwide push to redraw congressional boundaries ahead of the midterms. The effort follows a Supreme Court ruling last week on Louisiana’s districts, which Tennessee House Speaker Cameron Sexton said gave states the green light to redraw maps along partisan lines. Israel struck Beirut for the first time since a ceasefire with Hezbollah took effect last month, saying it targeted a commander of the militant group’s elite Radwan force in the city’s southern suburbs. The strikes risk destabilizing that truce at a delicate moment, as Iran and the U.S. report progress toward a deal to resolve their own standoff. The U.S. Air Force is aiming for a Fourth of July delivery of a Boeing 747 gifted by Qatar, hoping to add it to the Air Force One fleet in time for the U.S.’s 250th anniversary, Reuters reported. (For more on the controversy surrounding the aircraft, read Jed Rubenfeld’s piece “It’s a Terrible Idea, but Trump Probably Can Accept a Free Jet from Qatar.”) Commerce Secretary Howard Lutnick testified privately before Congress that he has no memory of why he and his family dined on Jeffrey Epstein’s private island in 2012, according to Reuters. The admission contradicts Lutnick’s earlier claim that he had cut ties with the convicted sex offender well before that visit. Weeks before a former JPMorgan investment banker filed a lawsuit packed with explosive allegations, the bank reportedly offered him $1 million to settle his sexual assault and harassment claims, according to The Wall Street Journal. The suit, filed by Chirayu Rana, alleges he was sexually assaulted by a female colleague, subjected to racial discrimination, and forced into a degrading dynamic at work. JPMorgan says the claims lack merit, and the female colleague’s lawyers call the accusations fabricated. A new report from the Hartford Institute for Religion Research shows that, for the first time in roughly 20 years, church attendance is trending upward, with more people volunteering and clergy expressing renewed optimism. The study’s authors described the findings, based on a survey of more than 7,400 congregations, as showing signs of widespread recovery from low attendance numbers.
Britain's JD Sports says Nike's Hill 'doing a great job'
Nike CEO Elliott Hill got a vote of confidence from one of its largest customers, British sportswear retailer JD Sports , whose boss said on Thursday he was "doing a great job".
UniCredit reaches non-binding accord to sell parts of Russian business
Italian bank UniCredit said on Thursday that it had reached a non-binding accord to sell parts of its Russian subsidiary to a "well established private investor" in the United Arab Emirates.
Fake rumors, real killings: Inside Congo's deadly health misinformation crisis
In Tshopo, a northeastern Congolese province blanketed in rainforest, rumours rippled through villages late last year claiming a mysterious illness had caused men's genitals to atrophy.
Chief Justice Roberts laments public perception of US Supreme Court as 'political actors'
U.S. Chief Justice John Roberts expressed concern on Wednesday about the public perception of the Supreme Court as an institution driven primarily by political outcomes rather than the law at a time when some prominent voices have raised questions about the top U.S. judicial body's legitimacy.
Sun Life quarterly profit jumps on Asia business strength
Sun Life reported a jump in first-quarter profit on Wednesday, as the Canadian insurer benefited from strong gains in its Asia business.
Who is Zack Polanski, UK Greens leader and rising political star?
Polanski has been likened to New York's Zohran Mamdani for his popular blend of environmental and socialist policies.
Soccer-Help wanted: Fox Sports hiring 'World Cup Watcher' for $50,000
May 5 (Reuters) - Forget the status that comes with the corner office, the best job in America this summer will pay one individual $50,000 to watch all 104 World Cup soccer games.
Help wanted: Fox Sports hiring 'World Cup Watcher' for $50,000
Forget the status that comes with the corner office, the best job in America this summer will pay one individual $50,000 to watch all 104 World Cup soccer games.
Two hantavirus cases confirmed, five more suspected on stranded cruise ship
Among the seven cases, three people have died, one is critically ill and three have mild symptoms, the WHO says.
UnitedHealthcare removes prior approval requirements for 30% of healthcare services
UnitedHealth will eliminate prior approval requirements for 30% of healthcare services, its insurance unit said on Tuesday, further reducing delays and paperwork for patients and doctors.
German firms abroad grow more pessimistic as Iran war disrupts supply chains
German firms operating abroad have become more pessimistic about their prospects, with nearly one in three expecting economic conditions to worsen as the Iran war exposes vulnerabilities in global supply chains, a survey showed on Tuesday.
Intel appoints Qualcomm executive to lead PC and physical AI business
Intel said on Monday it had appointed Alex Katouzian to lead the company's PC and physical artificial intelligence unit.
Intel appoints Qualcomm executive to lead PC and physical AI business
Intel said on Monday it had appointed Alex Katouzian to lead the company's PC and physical artificial intelligence unit. The new role for Katouzian includes the company's crucial PC business, which has been one of the mainstays of Intel's revenue and profit for decades. Katouzian has worked at Qualcomm for more than 20 years and has worked extensively in the company's mobile chip unit, which makes processors for smartphones and other gadgets.
AP, Washington Post, Reuters and Minnesota Star Tribune among Pulitzer winners for 2025 work
The Washington Post won the Pulitzer Prize for public service for scrutinizing the Trump administration’s sweeping, choppy cuts and changes to federal agencies. The Associated Press won the 2026 Pulitzer
Zambia says US health deal must be uncoupled from minerals access
Zambia's government said on Monday that it opposed a U.S. attempt to tie health funding to access to critical minerals, giving details for the first time about why negotiations with Washington over two proposed agreements have stalled.
Zambia Says US Health Deal Must Be Uncoupled From Minerals Access
LUSAKA, May 4 (Reuters) - Zambia's government said on Monday that it opposed a U.S. attempt to tie health funding to access to critical minerals, giving details for the first time about why negotiations with Washington over two proposed agreements have stalled. Zambia's Foreign Minister ...
Lebanon's most senior Shi'ite politician says no to negotiations with Israel until war stops
Lebanon's parliament speaker, who is the most senior Shi'ite politician and a close ally of Hezbollah, said on Monday there could be no negotiations with Israel without a halt to the war that has raged on in southern Lebanon in spite of a ceasefire.
Tyson Foods profit beats estimates on strength in chicken business
Tyson Foods reported better-than-expected quarterly earnings on Monday, as rising chicken sales helped counter a sharp drop in demand for high-priced beef.
WHO says risk to public is low after suspected hantavirus outbreak hits ship
The World Health Organization said on Monday there was no need for panic and the risk to the public was low after three people died and three fell ill following a suspected outbreak of the rodent-borne hantavirus on a cruise ship in the Atlantic.