برچسب: world economy

According to webangah News Agency, Pavel Durov, CEO of Telegram, stated on ⁢Wednesday that Elon Musk’s ‌AI startup xAI ⁤will invest $300 million in ⁢cash‌ and equity to integrate its AI ‌chatbot Grok ‍ into the messaging ‍platform.

Durov ‌explained that he and Musk agreed on the one-year partnership to strengthen Telegram’s financial⁢ position.”we are receiving $300 million from xAI in cash and stock, plus 50%​ of xAI’s subscription revenue generated through Telegram,” he clarified.

Hours later,⁤ Musk denied any signed contract on his platform X but ⁤provided no further details.‌ durov responded that both parties had reached an ‌agreement “in principle,” pending formalities.

Telegram confirmed Grok’s integration this summer, enabling users​ to access AI-powered features directly within the app-including content creation and open⁤ discussions on various topics.

The announcement coincides with Telegram’s efforts to raise at least $1.5 billion through new bond issuances and ⁣backing from prior investors like BlackRock and abu Dhabi’s ⁣ADQ.Reports indicate these funds will primarily retire debt from earlier bond sales.

The deal underscores investor confidence in Telegram ⁢despite CEO Durov facing legal challenges​ in France. Arrested in August 2024⁣ over ⁤allegations of complicity in crimes by users (including‍ extremism and child exploitation), he was released‌ on €5 ⁣million ($5.46 million) bail. Though permitted to return⁤ to Dubai in March, his recent U.S. travel request was ‍denied, leaving him ⁤under restricted movement.

telegram’s popularity ⁤continues​ rising-it surpassed 1 billion monthly active users in 2025, while 2024 marked its first‍ profitable year with over $1 billion revenue, driven⁣ by premium subscriptions and ad performance.

The massive Starship rocket, considered the​ most powerful launch system ever built, lifted off at ‍18:36 local ‍time from SpaceX’s facility near a village in southern texas.Residents there ​had recently voted to rename their town “Starbase” earlier this month.

Initial signs of trouble emerged when the first-stage booster exploded instead of making a controlled⁣ landing in the Gulf of Mexico. Live footage later showed the upper section failing to ‍deploy‌ payload doors meant to release Starlink⁤ satellite simulators.

Although this flight covered more distance than two previous tests, leaks developed in it’s systems. The spacecraft lost control during its suborbital trajectory, spun out, and⁣ ultimately broke apart upon‍ re-entry into Earth’s ‌atmosphere.

SpaceX posted on X that Starship experienced “a rapid unscheduled disassembly”-a phrase often used by the company⁢ to downplay‌ failures-adding it would learn from this setback. Elon Musk pledged to ⁣accelerate launch ‍frequency, stating subsequent attempts would occur every three to four weeks.

He did⁣ not confirm whether a planned livestream about Mars missions would proceed.U.S. regulators had approved this ‌launch just‍ four days prior, following a two-month hiatus due to investigations into an earlier ​incident.

Previous test launches in January and March ‍also ended⁢ explosively minutes after⁤ liftoff, ⁢scattering ​debris across parts⁢ of the Caribbean Sea and disrupting commercial flights.

According to a report by webangah ⁣News Agency, the US dollar dropped against the Russian ruble ⁢on Thursday, ‍reaching its weakest position in two years on Russia’s foreign exchange market.

Analysts attribute the ruble’s appreciation to positive political developments and ‍favorable conditions in ⁣the global oil ⁣market. The Russian currency, which has shown ‌consistent strengthening in ​recent months, fell​ below 78 rubles per dollar on Thursday afternoon‌ – its strongest exchange rate⁤ as mid-May 2023.

Yevgeny Luktyukhov, an official at Promsvyaz Bank, told buisness newspaper RBC ​that Russia’s announcement ⁣of drafting a peace proposal coupled with rising⁢ oil⁢ prices have bolstered the ruble. Meanwhile, Russian Foreign Minister Sergey Lavrov has proposed holding the next round of Ukraine peace talks⁤ on June 2 in Istanbul.

Concurrently, former US President Donald trump reiterated his opposition to ⁢imposing anti-Russian sanctions and expressed ⁤optimism‍ about resolving the crisis soon.

Brent crude oil, Russia’s primary export benchmark, rose 1.2% to $65.68 per barrel. Luktyukhov noted that improved global ⁤political ⁢conditions and stable oil markets should‍ offset typical end-of-month currency supply drops when exporters convert foreign earnings ‌into rubles for ‍tax payments⁤ – a process that typically supports Russia’s currency.

“Abundant ‌currency liquidity and weak demand for foreign currencies are additional factors supporting the ruble,” added Natalia Piryeva, senior analyst at Sifra Broker⁤ investment company.

Some analysts predict further ruble gains could push it to 75 per dollar this month if positive political momentum continues but warn this upward trend ⁢may prove ‍short-lived without substantive progress.

According to a report by webangah News Agency, US Treasury Secretary Scott‌ besant announced that ‌trade negotiations between the United States and China ‍have stalled and may necessitate direct involvement​ from the presidents ⁣of both countries.

In April, US President Donald ⁤Trump raised tariffs on Chinese goods to as‍ high as 145%, ‌calling it a⁣ response to an “unfair trade imbalance.” Beijing ⁣retaliated by increasing its own ⁣tariffs ‍up to 125%.⁣ Earlier this month, ⁣the two nations agreed ⁣to reduce or suspend most new tariffs for 90 ‍days to allow further negotiations.

During an interview ‍with Fox news⁢ on ‌Thursday, Besant confirmed the current deadlock in talks: ​”I ‌can say thes negotiations have somewhat stalled.” He added​ that additional discussions are⁢ planned in the‍ coming weeks and that Trump may soon hold a phone call with Chinese President xi‌ Jinping.

“Given the scale and complexity of these⁣ discussions,”⁣ Besant emphasized, “it’s necessary for both leaders to ‍personally ⁤engage. They share an excellent relationship. I’m confident China will eventually return ​to the negotiating table.”

The ⁤report notes that on Thursday, a US Federal Appeals Court overturned a previous ruling by the US Court of International Trade that had suspended tariffs. Consequently, these tariffs will remain​ in ‍effect at least until June 9.

Besant criticized judicial interference in‌ tariff matters as ​”highly ⁢inappropriate,” stressing that even the US ​Senate has refrained from rejecting Trump’s trade policies. “The president has ‌every right ​to set America’s trade agenda,” he stated. “any court⁤ intervention-whether regarding commerce or lost tariff revenue-harms American citizens.”

China has condemned Trump’s tariffs as ⁢tools for advancing “US​ hegemonic ambitions at the ‌expense ‍of other nations’ legitimate interests.” Chinese Foreign ⁢Ministry⁣ spokesperson Mao ning said ​Thursday: “Trade wars and tariff wars have no winners. ‍Protectionist policies damage all parties’ interests​ and ultimately prove unpopular.”

According to ​a‌ report by webangah News Agency, U.S. President Donald Trump ⁢announced on Friday that ⁢he woudl raise tariffs on steel imports to 50%-double the current rate.

Speaking at⁢ the U.S. Steel facility in West Mifflin, Pennsylvania, Trump told cheering workers that the increase‌ aims‍ to protect American steel ​industry jobs: “We’re ⁣going from 25% to 50%. These tariffs will strengthen⁣ our steel industry like never before. Nobody gets through this wall.”

The president revealed‍ he⁣ initially considered a 40% hike but was persuaded by⁤ steel executives to implement the higher rate: “At 25%, they could still find ways around it.At 50%,​ nobody gets through.”

On his Truth Social platform, Trump confirmed the new‌ rates would take effect Wednesday, june 4, writing: “Proud to⁢ announce steel and aluminum tariffs ‌rising from 25% to ​50%. Our industries are coming​ back stronger ⁤than ever-this is another giant leap⁣ for our incredible ‌workers!”

The move follows trump’s March 12 imposition of sweeping 25% tariffs on all steel and aluminum imports, which drew sharp criticism from ‌Canada and alarmed​ U.S. automakers. While the EU initially threatened retaliation, it ultimately declined ‍reciprocal measures.

Trump framed Friday’s decision as saving America’s steel industry: “Without these tariffs, our factories would have closed wholly.” However, economists warn the protectionist⁣ measures‌ may raise material costs ​for construction and manufacturing sectors despite revitalizing domestic production.

As March’s tariff announcement,U.S. steel prices have risen ​due to reduced foreign competition.

According to webangah News ‌Agency, citing Reuters, the strengthening ⁣U.S. dollar and changes in U.S.tariff⁣ policies pushed gold prices lower in Friday’s trading session. However, reports of cooling U.S. inflation have renewed​ hopes for potential interest rate cuts.

Spot gold fell 0.86% to $3,289.25 per ⁢ounce, while gold futures on ​New York’s COMEX declined 0.85% to $3,315.40.

The ‌dollar‌ index rose 0.1%, making gold more expensive for buyers using‌ other‌ currencies.

A U.S federal appeals court suspended a previous ruling by the Court of international ​Trade that had blocked Trump-era ‍tariffs,⁣ allowing these duties⁤ to‍ remain in ‍effect until June 9.

Analysts note that reduced demand ⁣for gold as a safe-haven asset has partially driven prices down, though market instability from Trump-era trade policies continues to support the precious metal’s value.

The U.S core PCE price index rose ⁣2.% year-over-year in april – slightly below the projected 2.% increase – leading traders to anticipate potential Federal Reserve ‌rate cuts ​as early‌ as September.

Low-interest environments typically benefit gold, which remains a preferred hedge against inflation and geopolitical uncertainty The metal hit an all-time high of $3,.05 per ounce​ in April

Among other precious metals silver fell.18% to $.03 while platinum dropped .60% to $,.84

According to ⁣ webangah News Agency,⁢ citing reuters, expectations of increased supply from the OPEC+ alliance for July pushed oil prices lower in Friday’s trading session.

North Sea Brent crude dropped by 25‌ cents (0.39%) to $63.90 per barrel, while U.S. West Texas Intermediate ⁤(WTI) ​crude declined ⁤by 15 cents ⁤(0.25%)⁢ to $60.79.

The price decline follows a Reuters report suggesting the ⁢OPEC+ coalition may reduce its July output beyond the previously ‍agreed 411,000 barrels per day cut implemented for May and June.

The potential OPEC+ production ⁢increase comes as global oil oversupply reaches 2.2 million barrels per day. JPMorgan​ Chase analysts‍ argue a price adjustment ⁤is needed to rebalance the market, predicting oil will‍ remain near current levels in‌ the short term ⁣before ⁤settling between $55-$60 ​per barrel by⁣ year-end.

Additional pressure on prices stems⁣ from former President⁤ Trump’s‍ renewed threats​ of increased tariffs on Chinese‌ imports.

Simultaneously occurring, U.S energy companies reduced active oil and⁤ gas rigs‍ for ‌the fifth consecutive week – reaching their ⁢lowest⁣ level⁤ since November 2021 according to Baker Hughes data showing a‍ year-over-year decline of 37 rigs (6%).

According ​to webangah News Agency, UK food price inflation reached 4.1% in May,marking the highest level since February 2024.

Analysts at Kantar report that ⁢British⁣ consumers ⁤are increasingly ⁣turning to discounted items and supermarket own-brand products as price growth accelerated from ​April’s 3.8% rate.

Fraser McKevitt, head of retail and consumer insight at Kantar, stated: “Households have long been adjusting their shopping habits to manage ⁣budgets, but we typically see significant ‍behavioral shifts when inflation crosses the 3-4% threshold and people feel its impact ‍more directly.”

Discount supermarket chains have benefited most from this trend, ​with Aldi and Lidl collectively achieving an⁤ 8.4% sales increase – their ⁣strongest combined performance since January 2024.

Lidl⁣ recorded nearly an 11%‌ sales ⁣surge, reaching a record 8.1% ⁢market share and becoming ⁣the fastest-growing physical ⁢retailer in Britain. The⁤ chain ⁢attracted 419,000 new customers⁣ compared to last year – the largest gain‍ among all retailers.

Aldi posted ‍a robust performance with sales up by 6.7%,its fastest growth rate this year,capturing an 11.1% ⁤market share. In contrast,Asda remains challenged⁣ as the‌ only major chain experiencing both ⁢declining sales (down 3.2%) and ⁣shrinking market share (12.1%, just one percentage point ‌above Aldi), despite its ⁢best annual performance in over a year.

The Co-op managed a modest 0.6% sales ⁣increase, ⁢overcoming similar supply chain difficulties faced ​by ‌competitors.