Meta ad revenue projected to hit $240 billion amid AI spending surge
Meta Platforms is expected to generate about $240 billion in advertising revenue during 2026, according to a new report from WARC Media, reinforcing the company’s dominance in digital advertising even as investors grow concerned about mounting artificial intelligence costs. The report estimated that Meta’s advertising business......
Iran says Hormuz Strait remains open under naval coordination rules
Iranian Foreign Minister Abbas Araghchi said Thursday that the Strait of Hormuz remains open to all commercial shipping provided vessels coordinate with Iranian naval forces before transit. The comments were delivered on the sidelines of the BRICS foreign ministers meeting in New Delhi as tensions continue over the conflict involving Iran,......
Iran presses BRICS to condemn US and Israeli military campaign
Foreign ministers from the BRICS nations opened a two day summit in New Delhi on Thursday under the shadow of the conflict involving Iran, the United States and Israel. The meeting exposed growing divisions inside the expanded BRICS bloc as member states struggled to align their positions on the war that began on February 28. Hosted at Bharat......
Study warns compound climate extremes are accelerating beyond forecasts
Rare compound weather disasters such as simultaneous heatwaves and droughts or overlapping floods and extreme rainfall are increasing faster than climate models previously projected, according to a new study published in Nature. Researchers found that the frequency of these combined climate extremes rises almost directly with cumulative carbon......
Anthropic says Claude now writes most of the company’s code
Anthropic chief financial officer Krishna Rao said the company’s artificial intelligence model Claude now generates more than 90 percent of Anthropic’s internal code, underscoring how rapidly AI systems are reshaping software development and corporate operations. Rao made the comments during his first public podcast appearance......
Trump and Xi open Beijing summit with new trade council talks
Senior American and Chinese officials are discussing the creation of a new bilateral Trade Council and a separate Investment Council as President Donald Trump opened high-level talks with Chinese President Xi Jinping in Beijing. The proposals, confirmed Thursday by Treasury Secretary Scott Bessent, signal a new attempt to stabilize economic......
OpenAI and Anthropic escalate rivalry with free coding AI offers
OpenAI and Anthropic launched competing promotions for their artificial intelligence coding platforms on May 13, intensifying the battle for enterprise developers as demand for agentic software engineering tools accelerates across the technology sector. OpenAI moved first by offering eligible enterprise customers two months of free access......
Webb telescope identifies earliest known primitive galaxy formation
An international team of astronomers has used the James Webb Space Telescope to identify the oldest primitive star-forming galaxy ever observed, offering a rare glimpse into the universe just 800 million years after the Big Bang. The galaxy, known as LAP1-B, contains oxygen levels estimated at only 1/240th of those found in the Sun, making......
Oil holds above 100 dollars as Trump Xi talks begin in Beijing
Oil prices stayed above the 100 dollar mark on Thursday as global markets focused on high level talks in Beijing between Donald Trump and Xi Jinping. Traders watched the meeting for any signal that could ease tensions linked to the Iran conflict and the disrupted flow of energy through the Strait of Hormuz. Brent crude traded around 106 dollars......
Iran says control of Strait of Hormuz could double oil revenue
Iran has claimed that tighter control over the Strait of Hormuz could generate economic returns capable of doubling its oil revenue, according to statements attributed to a senior military official. The assessment comes as tensions remain high between Iran, the United States, and Israel, with maritime security in one of the world’s most......
Saudi desert truck convoys reshape global oil trade routes
Desert truck convoys crossing the Arabian Peninsula have become a critical emergency channel for global energy flows after the prolonged closure of the Strait of Hormuz disrupted one of the world’s most important maritime chokepoints. Gulf states are rapidly expanding overland logistics networks to sustain exports of oil, gas, and industrial......
NATO chief proposes 0.25% GDP pledge to fund Ukraine aid
NATO Secretary General Mark Rutte has proposed that all 32 member states commit 0.25 percent of their gross domestic product annually to support Ukraine. The plan, if adopted, would significantly increase and stabilize long-term assistance levels at a time when Western support remains uneven across allies. The proposal was presented during......
Huawei, JAC and Stellantis discuss Maserati electric vehicle venture
A potential partnership between Huawei, Anhui Jianghuai Automobile Group and Stellantis is under discussion to develop new energy vehicles under the Maserati brand. The talks reportedly involve a framework where each company would take a defined role in product development, manufacturing and branding, although no final agreement has been reached. Under......
Volkswagen unveils first electric GTI at Nürburgring anniversary event
Volkswagen is preparing to introduce the ID. Polo GTI, the first fully electric model to carry the iconic GTI badge, during the Nürburgring 24 Hours weekend in Germany. The unveiling coincides with the 50th anniversary of the original Golf GTI, a model that transformed the compact performance car segment after its launch in 1976. The......
Apple suppliers surge as iPhone 17 production targets rise
Apple’s supply chain stocks rallied after the company reportedly increased its iPhone production targets for the first three quarters of fiscal year 2026 to 163 million units, reflecting growing confidence in demand for the iPhone 17 lineup and renewed momentum across the premium smartphone market. The revised target represents an increase......