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Dow Is Hardly Moving Anything Through Hormuz, CEO Says
Dow Chair and CEO Jim Fitterling says the company is "hardly moving anything" through the Strait of Hormuz due to the war in Iran. He says it could take 275 days for things to get back to normal after the waterway is reopened. He speaks to Bloomberg's Caroline Hyde on the sidelines of the Spark Summit in California. (Source: Bloomberg)
Anthropic warns against selling top Nvidia chips to China during Trump Beijing visit
Anthropic's paper outlines two scenarios for US-China AI leadership by 2028. In one, the US maintains its compute advantage through tightened export controls, leading to democratic AI norms. The other sees China overtaking the US if policymakers fail to act, resulting in authoritarian AI dominance.
3 credit card debt questions borrowers should consider this week
MoneyWatch: Managing Your Money 3 credit card debt questions borrowers should consider this week We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com....
Cerebras CEO Turns Year’s Largest IPO Into $3.2 Billion Fortune
Serial Silicon Valley entrepreneur Andrew Feldman, who literally grew up on the campus of Stanford University, was already involved in selling three companies and taking another public. But none of that compares with Thursday’s debut of his AI-chip manufacturer.
New York Lawmakers Planning Tax On $1 Million Homes Purchased With Cash, Report Says
BreakingBusinessNew York Lawmakers Planning Tax On $1 Million Homes Purchased With Cash, Report SaysByAntonio Pequeño IV,Forbes Staff. Pequeño is a breaking news reporter who covers tech and more.Follow AuthorMay 14, 2026, 03:15pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.ToplineNew York City homes worth more than $1 million and purchased with cash could face a new tax, according to Bloomberg, with state lawmakers co...
OpenAI is reportedly preparing legal action against Apple; it wouldn’t be the first partner to feel burned
OpenAI is so frustrated with Apple over a ChatGPT integration that failed to deliver the subscribers and prominence it expected that the company is now actively exploring legal action against the iPhone maker, Bloomberg News reported Thursday, citing people familiar with the matter. According to Bloomberg, OpenAI has enlisted an outside law firm to work through its options, which could include sending Apple a formal breach-of-contract notice without necessarily escalating to a full lawsuit (at l...
Schonfeld-Backed Perbak Closing Hedge Fund After ‘Too-Short’ Run
Perbak Capital Partners, a UK-based hedge fund backed by Schonfeld Strategic Advisors, is winding down after determining its assets haven’t grown enough to maintain a “significant financial buffer” to protect the business.
Major British meat supplier crashes into administration with 130 jobs at risk
Holmesterne Foods, a long-established North Yorkshire meat supplier that operated for almost 40 years, has collapsed into administration with the majority of its 130 employees facing redundancy.The company, formally known as Holmesterne Farm Co. Limited, appointed joint administrators on May 11, according to a notice published in the London Gazette.The business cited an unsustainable financial environment alongside rising operating costs as the primary reasons behind its collapse.Founded in 1986...
Russia, Oman see vast potential for transit via North-South transport corridor
Russian Deputy Prime Minister Marat Khusnullin noted that the development of the North-South, West-East, and Europe-Western China international corridors remained among the key priorities
Anthropic to donate $200 million to Bill Gates' Gates Foundation
Anthropic and the Gates Foundation are committing $200 million over four years to advance AI for public good, focusing on global health, life sciences, education, and economic mobility. This partnership aims to accelerate vaccine development, improve health data utilization, and enhance educational tools for K-12 students and adult learners worldwide.
Russia could boost trade with Oman given situation with Strait of Hormuz — official
Head of the Russian Chamber of Commerce and Industry Sergey Katyrin noted that Turkey, Saudi Arabia, and the UAE dominate the structure of trade among Islamic countries
Cuba plunged deeper into fuel crisis amid 22-hour blackouts
Cuba faced nationwide disruption after officials say the country had completely run out of diesel and fuel oil.
Delta CEO Bastian Talks Consumer Demand, Fuel Costs and Spirit
Delta Air Lines CEO Ed Bastian discusses consumer demand, the effects of rising jet fuel costs and Spirit's collapse, and potential industry consolidation with Caroline Hyde on Bloomberg Television. (Source: Bloomberg)
Gold Fluctuates as Market Weighs Federal Reserve Rate Path
Bloomberg's James Attwood joins Vonnie Quinn on "Bloomberg Markets." Gold swung between gains and losses as investors weighed the Federal Reserve’s interest-rate path after US data this week showed a war-driven surge in inflation. (Source: Bloomberg)
ECB’s Stournaras Says High Oil Price Could Force Rate Hike, Report Says
Governing Council member Yannis Stournaras warned that the European Central Bank could be forced to hike borrowing costs if the price of oil maintains its current level, according to Athens News Agency.
Crypto Stocks Surge As Senate Committee Advances Long-Stalled CLARITY Act
BreakingBusinessCrypto Stocks Surge As Senate Committee Advances Long-Stalled CLARITY ActByAlicia Park,Reporter. I cover markets and tech.Follow AuthorMay 14, 2026, 01:36pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.ToplineThe Senate Banking Committee advanced the crypto industry's top legislative priority after nearly a year of gridlock and months of negotiations, sending crypto-exposed stocks rallying on the news, w...
Russian stock indices decline as main trading session closes on Moscow Exchange
The yuan decreased by 4.75 kopecks to 10.77 rubles
Pension BCI Shuts Two Stock Funds, Cites Shrinking Public Pool
British Columbia Investment Management Corp. is closing two global stock-picking strategies that oversee about C$4.3 billion ($3.1 billion), as it contends with a contracting pool of publicly listed firms.
Farage says £5m gift a reward for Brexit campaigning
Farage says £5m gift a reward for Brexit campaigning12 minutes agoShareSaveAdd as preferred on GoogleRichard WheelerandJamie McConkeyPA MediaNigel Farage has said that £5m he received from a billionaire Reform UK donor was given as a "reward for campaigning for Brexit".The Reform leader also told The Sun he "cannot be bought by anybody" and the money from Christopher Harborne was given to him on a "completely unconditional basis".Farage has previously said he was under "no obligation" to declare...
Spirit’s Collapse Shows Limits of Budget Model, Delta CEO Says
Delta Air Lines Chief Executive Officer Ed Bastian said rising jet fuel costs and Spirit Airlines’s collapse are accelerating a divide in the industry between carriers catering to premium travelers and those competing primarily on price.