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By Foo Yun Chee BRUSSELS (Reuters) -Europe’s largest retailers and online retail giants have urged the European Commission to rein in allegedly high fees charged by Visa and Mastercard, saying they hurt the bloc’s competitiveness and hamper rivals. Visa and Mastercard dominate the market for payment cards and have in recent years faced complaints from retailers about their scheme fees, and what retailers say is a lack of transparency on these fees. The two U.S. companies process about two-thirds of card payments in the euro zone. The retailers’ grievances have in part prompted the 27-country European Union to look into…
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Inside Trump’s Saudi speech as Middle East tour continuesEuropean markets are downbeat in mid-afternoon trade with earnings in focus, while on the world stage, eyes remain on U.S. President Donald Trump’s Middle East tour.Tuesday saw the U.S. leader deliver an address at the Ritz Carlton Riyadh in Saudi Arabia, where he heaped praise on the kingdom and outlined U.S. relations with the region to a packed room. CNBC’s Natasha Turak reports on the mood inside the plenary here.U.S. President Donald Trump and Saudi Crown Prince and Prime Minister Mohammed bin Salman shake hands during a Memorandum of Understanding signing ceremony…
Fiverr’s Spring 2025 Business Trends Index reveals an AI paradox as companies are also increasingly seeking to humanize AI, with 641% jump in searches Fiverr 2025 Spring Business Trends Index Get the latest news delivered to your inbox Sign up for The Manila Times newsletters By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy. Businesses Rush to Harness AI Agents, Fueling 18,347% Surge in Freelancer Searches NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) — The scramble to deploy AI agents has businesses turning to freelancers in record…
This shift has lowered demand for traditional safe-haven assets like gold, which had surged amid global trade frictions earlier in 2025. “The market is digesting a combination of dovish inflation data and geopolitical calm, which typically erodes the defensive premium embedded in gold,” said a commodities strategist at KCM Trade. Fed Rate Outlook and Dollar Weakness Provide Support Despite the downward drift, gold prices are finding some footing amid growing expectations of Federal Reserve rate cuts. The U.S. Consumer Price Index (CPI) rose 2.3% year-on-year in April, slightly below forecasts, while core CPI ticked up 2.8%. With inflation softening, traders…
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In brief Solana has surged in baby name rankings since first appearing among the top 1,000 names in 2023. The name’s Spanish and Latin origins refer to the sun, sunshine, or a sunny place. Solana Beach in California inspired the name of the Solana blockchain, with its founders having sentimental ties to the place. Long before it was a blockchain, Solana was a word for sunshine. Now, it’s shining as one of America’s fastest-growing and trending baby names.The name, derived from Spanish and Latin roots meaning the “sunshine” or “sunny place,” has surged in popularity, according to new data from…
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The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 4.287 million barrels in the week ending May 9—a shock after analysts had estimated a 2.4-million-barrel draw. The API reported a 4.49 million barrel inventory decrease in the prior week.So far this year, crude oil inventories are up more than 23 million barrels, according to Oilprice calculations of API data.Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) climbed 500,000 barrels to 399.6 million barrels in the week ending May 9. Inventory levels in…
