Keep pulling the thread on Donald Trump.
US President Donald Trump has called off planned military strikes against Iran following an appeal from leaders of Persian Gulf allies, including Saudi Arabia, Qatar, and the UAE.
Standard Chartered plans to cut more than 15% of its support staff, approximately 8,000 jobs, by 2030 and replace these roles with AI.
A federal court in California has dismissed the lawsuit filed by Elon Musk against OpenAI and its CEO Sam Altman.
The European Union is facing a July 4th deadline set by President Trump to ratify its trade deal with the United States.
President Trump has previously threatened to increase tariffs on European car imports to 25% if the EU does not move quickly enough to implement its trade deal with the US.
The ongoing war has caused oil prices to increase from approximately $65 per barrel to about $110 per barrel.
The biggest risk for a further increase in oil prices is a disruption to the East-West pipeline in Saudi Arabia and the Red Sea port of Yanbu.
The war has removed approximately 10 to 12 million barrels of oil per day from the global economy.
Wendy Benjaminsohn of Bloomberg believes that President Trump's pattern of threatening and then retracting military action is giving Iran confidence that it can wait out the current standoff.
Standard Chartered expects its AI-driven job cuts to help raise income per employee by approximately 20% over the next two years.
HSBC is considering deep job cuts over the coming year, aligning with a broader trend of technology-driven efficiency efforts among global banks.
Shares in Standard Chartered rose by more than 4% in Hong Kong trading following the announcement of its AI-driven job cuts.