US producer prices rise 2.6% annually with slight 0.1% monthly increase in May
US producer prices rose 2.6% annually in May, matching market expectations, with a modest 0.1% increase from April, the US Bureau of Labor Statistics reported.
Apple has requested to participate in Google's upcoming U.S. antitrust trial, arguing that it must defend its lucrative revenue-sharing agreements with the tech giant, which send billions in payments each year for making Google the default search engine on Safari.
Apple's lawyers stated in court filings that the company cannot rely on Google to protect the interests of its revenue-sharing deal, which amounted to an estimated $20 billion in 2022 alone. Despite this, Apple clarified it has no plans to develop its own search engine to compete with Google.
As part of the trial, the U.S. Department of Justice is pushing for measures that could break up Google’s search dominance, possibly involving the sale of its Chrome browser and Android operating system to foster competition. Apple’s participation in the case is aimed at ensuring its interests are represented, with plans to call witnesses during the trial scheduled for April.
Google, in response, has proposed easing default agreements with developers and carriers, but it has not agreed to end its revenue-sharing model, which is central to its deal with Apple. This landmark antitrust case could significantly impact the way users interact with online search tools.
A spokesperson for Google declined to comment.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
The U.S. Embassy in Qatar has advised American citizens to shelter in place amid rising tensions between Israel and Iran, as part of a broader global security alert issued by Washington.
In a televised address on Saturday night, U.S. President Donald J. Trump announced that American forces, in coordination with Israel, had conducted precision strikes on Iran’s Fordow, Natanz, and Isfahan nuclear sites, aiming to dismantle Tehran’s enrichment capabilities.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
President Donald Trump announced that U.S. forces struck three Iranian nuclear facilities, including Fordow, Natanz, and Esfahan, marking direct American involvement in the ongoing Israel-Iran conflict.
The European Commission has warned Meta that it may face daily fines starting 27 June if its modified pay-or-consent advertising model fails to meet EU antitrust requirements under the Digital Markets Act.
Nike plans to reduce its reliance on China for U.S.-bound products to offset the financial blow from President Donald Trump’s new tariffs, as the sportswear giant posted better-than-expected fourth-quarter results and a milder revenue forecast.
Nike is stepping back from China-based production for its U.S. market to dodge tariff-related costs, aiming to shift its sourcing strategy by 2026.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Shell has denied reports that it is in talks to acquire BP in a historic £60 billion deal, despite ongoing market speculation about a potential merger between the two oil giants.
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