Microsoft Inc. abruptly lays off 6,000 people, 3% of its global workforce, citing workforce productivity
A sourced account of the development recorded on 2025-05-13, based on evidence from AP.
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Disney picks Abu Dhabi for its first Middle East theme park
Walt Disney says its seventh theme park will open on Yas Island in partnership with Miral, marking the company’s first move into the Middle East.
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Trump floats 100% tariffs on foreign-made films as allies brace for fallout
Donald Trump says he will move to impose a 100% tariff on movies produced abroad, but the White House has not yet explained how the policy would work.
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Warren Buffett says he will step down as Berkshire CEO at year end
Buffett told Berkshire Hathaway shareholders that he would leave the CEO role at the end of the year, with Greg Abel set to succeed him.
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End of de minimis exemption forces Temu shift as low-cost import model comes under pressure
A change to U.S. tariff treatment for low-value direct-to-consumer imports reshaped how platforms including Temu and Shein approached American shoppers.
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US and Ukraine sign mineral deal after months of tense bargaining
Washington and Kyiv have agreed a new investment fund tied to Ukraine’s future mineral and energy revenues, with both sides presenting it as part of a wider security and reconstruction effort.
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Nigeria completes repayment of $3.4 billion IMF pandemic support
The IMF’s representative in Nigeria said the country had repaid the emergency financing it received in 2020, while separate annual charges of about $30 million were still expected.
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Spain’s blackout aftermath leaves at least five dead
Spanish media reported five deaths linked to the blackout that hit the Iberian Peninsula the previous day.
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Iberian power failure halted transport as operators rebuilt the grid
A sudden system collapse cut electricity across mainland Spain and neighboring territories, prompting emergency measures and a gradual restoration effort.
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Saudi Arabia and Qatar Agree to Pay Syria's World Bank Debt
Saudi Arabia and Qatar said they will cover Syria's nearly $15 million World Bank debt, a move that could reopen the bank's support for the country.
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Germany cuts 2025 growth forecast to zero as Trump tariffs deepen a three-year slump
Outgoing Economy Minister Robert Habeck says U.S. trade policy is the main drag on Europe's largest economy, while the Bundesbank warns even stagnation may be optimistic.
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ARK Invest buys into Solana through a Canadian ETF as U.S. spot approval remains absent
ARK Invest has become the first U.S.-listed asset manager to gain ETF exposure to Solana by buying shares of a Canadian fund, highlighting how investors are working around the lack of a U.S. spot Solana product.
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British Steel bill becomes law as UK moves to take control of Scunthorpe plant
Royal assent gives ministers power to direct the company’s board and staff after Parliament rushed through an emergency act.
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Trump exempts smartphones and computers from new tariffs, but China levy remains
The White House backed off the full tariff hit for key electronics, while saying companies still need to move production home.
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China says it will not answer every new US tariff with another tariff
Beijing signalled it would stop matching each fresh American tariff increase, saying existing duties have already priced US goods out of the Chinese market.
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EU delays countermeasures as tariff volatility keeps markets on edge
European Union member states have paused retaliatory tariffs for 90 days, choosing to keep negotiating room open while the trade shock ripples through currencies and stock markets.
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UK Cabinet Office to cut 2,100 roles in drive for a smaller state
The government says the shake-up will save money and remove duplication, but unions warn that blunt cuts could damage delivery across Whitehall.
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Zimbabwe begins first compensation payments to white farmers displaced in land seizures
Harare has started an initial US$3 million payout under a 2020 agreement that will eventually compensate approved former farm owners through cash and bonds.
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Universal confirms Bedfordshire site for first Europe resort, opening planned for 2031
Universal says it will build its first European theme park and resort on a 476-acre former brickyard near Bedford, with construction expected to begin next year and opening targeted for 2031.
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Canada hits back at U.S. car tariffs with a 25% tax on some vehicle imports
Ottawa has answered Washington’s auto tariffs with reciprocal duties, putting more pressure on a North American supply chain already strained by trade politics.
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China answers Trump’s tariff move with an 84% duty on U.S. goods
Beijing’s finance ministry raised tariffs sharply after Washington lifted duties on Chinese goods, pushing the trade war into another round of escalation.
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Trump raises China tariffs to 125% and gives most other countries a 90-day pause
Markets surged after the White House softened its stance, though Canada and Mexico were left out of the reprieve.
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Taiwan says it will not retaliate against U.S. tariffs as trade fight widens
President Lai Ching-te said Taiwan has no plans to strike back after Trump’s new tariffs, even as the wider tariff dispute rattled markets and drew sharper responses from China.
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Asian markets slide after Trump tariff shock spreads through global trading desks
Stocks across Asia and Europe fell sharply after Donald Trump’s tariff announcement triggered fresh fears about growth, inflation and a wider trade war.
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