Airport chaos, sleeping in metro stations, no running water: Dubai’s flood mayhem continues
The UAE continues to reel from floods caused by the heaviest rainfall ever recorded in the desert state.
Here’s why so many electric vehicle startups fail
The EV revolution is a tempting proposition for entrepreneurs. But the business is not for the faint of heart. Successes tend to have a few common traits.
AI startup Stability lays off 10% of staff after controversial CEO’s exit: Read the full memo
Stability AI laid off several employees to “right-size” the business after a period of unsustainable growth, according to an internal memo obtained by CNBC.
European Central Bank should cut in June to avoid falling behind inflation curve, policymaker says
The European Central Bank should cut interest rates in June to avoid falling behind the inflation curve, according to one ECB policymaker.
Global police agencies take down massive scam website that defrauded thousands of victims
Britain’s Metropolitan Police said in a statement Thursday that the LabHost website was used by 2,000 criminals to steal users’ personal details.
World’s largest sovereign wealth fund posts $110 billion in first-quarter profit as tech stocks surge
Norway’s giant sovereign wealth fund on Thursday reported first-quarter profit of 1.21 trillion kroner ($110 billion).
Beyonce and Shakira song fund Hipgnosis agrees $1.4 billion sale to Concord
Financing for the deal will be supported by Concord’s partner Apollo Capital Management, the U.S. private equity giant.
BP trims down executive team, picks new head of its gas and low carbon energy business
British oil major BP on Thursday trimmed the size of its executive team down to 10 members.
Bank of England to cut rates in May, Morgan Stanley says, retaining contrarian call
Morgan Stanley says that the Bank of England will cut interest rates as soon as May, in a notable sign of optimism amid waning market sentiment.
Tim Cook visits Singapore amid Apple’s Southeast Asia expansion efforts
Tim Cook will meet with Singapore’s next leader to conclude a whirlwind tour around Southeast Asia as Apple expands in the region.
