Author: ALJAZEERA

Move is part of a broader US push to curb politically sensitive fuel price spikes before November’s midterm elections, even though impact on lowering fuel prices is questionable.Published On 24 Apr 202624 Apr 2026United States President Donald Trump granted a 90-day extension to a shipping waiver that makes it easier to move oil, fuel and fertiliser around the US, the White House has said, the latest effort to curb rising energy costs linked to the war with Iran.Friday’s move, even though its impact on lowering prices is questionable, reflects a broader push by the White House to dampen politically sensitive…

Meta will lay off 8,000 workers while Microsoft is offering buyouts to 8,750 people, a first for the Windows maker.Published On 23 Apr 202623 Apr 2026Meta is laying off about 8,000 workers, or about 10 percent of its workforce, the company has said as it continues to ramp up spending on artificial intelligence infrastructure and highly paid AI-expert hires.On Thursday, the company said it was making the cuts for the sake of efficiency and to allow new investments in parts of its business, as first reported by Bloomberg, which also said the company will leave about 6,000 jobs unfilled.Recommended Stories…

Bessent has pushed back on allegations that the Trump family’s financial ties with UAE are driving the decision to offer a swap line.United States Secretary of the Treasury Scott Bessent has said that several allies in the Gulf region and Asia have requested currency swap lines from the US to help them with the energy shocks and other fallout from the US-Israel war on Iran.Bessent told US senators on Wednesday that both the US and the United Arab Emirates would benefit from a proposed swap line – the act of central banks exchanging currency to provide liquidity that can stabilise…

Kevin Warsh, United States President Donald Trump’s pick to lead the Federal Reserve, has addressed concerns about his independence pending his appointment to the bank amid fears that Trump could sway his decisions on monetary policy.On Tuesday, Warsh — who served on the central bank’s Board of Governors from 2006 to 2011 — faced waves of criticism during a confirmation hearing of the Senate Banking Committee where Democrats voiced concerns about the Fed’s independence should he be appointed to lead the organisation.Recommended Stories list of 4 itemsend of listSenator Elizabeth Warren of Massachusetts, the ranking Democrat on the committee, questioned…

Cook will turn over CEO duties to Apple’s head of hardware engineering, John Ternus, on September 1, and will stay on as executive chairman.Published On 20 Apr 202620 Apr 2026Apple CEO Tim Cook is stepping down from the job he inherited from the late Steve Jobs, ending a nearly 15-year reign that saw the company’s market value soar by more than $3.6 trillion during an iPhone-fuelled era of prosperity.The company made the announcement on Monday.Recommended Stories list of 4 itemsend of listCook, 65, will turn over the CEO duties to Apple’s head of hardware engineering, John Ternus, on September 1,…

Brent crude rises more than 7 percent as Washington and Tehran offer conflicting accounts on ceasefire negotiations.Published On 20 Apr 202620 Apr 2026Oil prices have risen sharply following attacks on commercial vessels in the Strait of Hormuz and conflicting messages about the prospect of renewed negotiations between the United States and Iran.Brent crude futures, the primary benchmark for global prices, jumped more than 7 percent in Asia on Monday as the outlook for peace between Washington and Tehran darkened.Recommended Stories list of 4 itemsend of listPrices eased somewhat later in the morning, with the benchmark at $94.69 a barrel as…

For Turkiye’s government, the Iran war has complicated efforts to turn around an economy still reeling from one of the worst financial crises in the country’s history.But even as the conflict has driven up Turkiye’s fuel prices and forced authorities to dip into their precious foreign currency reserves to defend the lira, it has also presented an opportunity.Recommended Stories list of 4 itemsend of listAs the fallout of the war has reverberated across the Middle East, Ankara has jumped at the chance to promote Turkiye as a model of security and stability for businesses and investors.While Iranian missiles and drones…

The company’s stock plunged about 8 percent on the news of Hastings’s departure.Published On 16 Apr 202616 Apr 2026Netflix Chairman Reed Hastings is leaving the streaming service he cofounded 29 years ago as the company regains its footing after it lost its $72bn deal for Warner Bros Discovery to Paramount Skydance.In a letter to investors released on Thursday, Netflix said Hastings will not stand for re-election at its annual meeting in June and plans to focus on philanthropy and other pursuits.Recommended Stories list of 4 itemsend of listThe company’s stock plunged about 8 percent on the news of Hastings’s departure.…

Published On 15 Apr 202615 Apr 2026A New York jury has found that concert giant Live Nation and its subsidiary Ticketmaster had a harmful monopoly over big concert venues, dealing the company a loss in a lawsuit over claims brought by dozens of states in the United States.A Manhattan federal jury deliberated for four days before reaching its decision on Wednesday in the closely watched case, which gave fans the equivalent of a backstage pass to a business that dominates live entertainment in the US and beyond.Recommended Stories list of 4 itemsend of listAt the end of the proceeding, the…

The International Monetary Fund (IMF) has lowered its global economic growth forecast as tensions between the United States and Iran have driven up energy and food costs globally.The IMF said on Tuesday that it expected the global economy to grow by 3.1 percent this year, a slowdown from its earlier forecast of 3.3 percent, which it had released before the US and Israel began their war on Iran on February 28.Recommended Stories list of 4 itemsend of listSince then Iran has retaliated by closing the Strait of Hormuz, a critical chokepoint for oil and gas supplies, and has attacked energy…