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S&P 500, Nasdaq end at records as oil prices retreat

Major Wall Street stock indices shrugged off a surprisingly big jump in US inflation Wednesday and pushed to fresh records on artificial intelligence bullishness and hopes for ths US-China summit.

Warsh confirmed as Fed chair as central bank faces Trump assault

The US Senate on Wednesday confirmed Kevin Warsh as the new Federal Reserve chairman to lead a central bank whose independence is under attack and with inflation at a three-year high.

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From Black Death to Covid, ships have long hosted outbreaks

A deadly outbreak on a cruise liner is just the latest in a long history of infectious diseases spreading rapidly in the cramped confines of ships, from the Black Death to Covid.

Stocks rise ahead of US-China summit

Stock markets drifted higher Wednesday as investors awaited a high-stakes summit between the United States and China, while oil prices diverged as Middle East peace talks stalled.

US wholesale prices jump 6.0% year-on-year in April, highest since 2022

Wholesale prices in the United States rose sharply in April, lifted by a surge in energy costs related to the Iran war, registering their highest 12-month increase in more than three years.

Stocks waver, oil steady ahead of US-China summit as Iran talks stall

Stock markets were mixed Wednesday and oil prices steadied but remained above $100 a barrel as investors awaited a high-stakes summit between the United States and China, and Middle East peace talks stalled.

War in Middle East: latest developments

Here are the latest developments in the Middle East war:

Real Madrid win legal battle over Bernabeu concert noise

Real Madrid said Wednesday they have won a legal battle in their dispute with a residents association complaining about "noise pollution" generated by concerts held at their Santiago Bernabeu stadium.

EU won't ban LGBTQ 'conversion therapy' but will push states to act

The European Union will not ban "conversion therapy" targeting LGBTQ people, but will push member states to take action against such practices, it said Wednesday.

Trump arrives in China for superpower summit with Xi

US President Donald Trump landed in Beijing on Wednesday for a high-stakes summit with Chinese leader Xi Jinping aimed at easing deep tensions between the rival superpowers.

Chinese tech giant Alibaba posts profit drop amid AI drive

Chinese tech giant Alibaba said Wednesday that net profit dropped by nearly a fifth during its most recent fiscal year, weighed by challenges in the domestic economy and an expensive push into artificial intelligence.

Stocks rise ahead of US-China summit as Iran talks stall

Stock markets mostly rose on Wednesday as investors awaited a high-stakes summit between the leaders of the United States and China, as Middle East peace talks stalled.

Nissan expects return to profit after huge loss

Nissan projected Wednesday a small net profit this year after posting a huge loss for the second year running, with the Japanese automaker saying it has "moved beyond recovery".

Asian stocks mixed on US-Iran impasse, AI setbacks

Asian stocks were mixed on Wednesday as markets digested the lack of progress towards Middle East peace and setbacks that rattled the boom in AI technology.

'Short of blue-collar workers': Ukraine's battle for labour

After fleeing Russia's advancing army and resettling in the central industrial hub of Dnipro, Ukrainian worker Anatoliy Synkov had no trouble finding a job.

Asian stocks fall on US-Iran impasse, AI setbacks

Asian stocks fell on Wednesday as markets digested the lack of progress towards Middle East peace and setbacks that rattled the boom in AI technology.

EU to ease train travel with one journey, one ticket rules

The EU could force railway companies to sell rivals' tickets on their websites and share data with booking platforms under plans to be unveiled Wednesday aiming to boost train travel, sources said.

Musk 'wanted 90%' of OpenAI, Altman tells feisty tech titan trial

Elon Musk was obsessed with trying to control OpenAI, the artificial intelligence company's CEO Sam Altman said Tuesday at a blockbuster trial that saw him spar with lawyers representing the worth's wealthiest man.

Paramount defends Warner bid amid California probe

Paramount Skydance has defended its attempt to buy the legendary Warner Bros. studio, in a letter to California's top lawyer whose office is probing the $110 billion bid, US media reported Tuesday.

Agnete Kirk Kristiansen Appointed Chair of the LEGO Foundation

BILLUND, DK / ACCESS Newswire / May 13, 2026 / At the LEGO Foundation's annual meeting, the Board of Directors elected Agnete Kirk Kristiansen as Chair of the Board. As fourth generation member of the Kirk Kristiansen family, owners of the LEGO Group, she becomes only the fifth Chair of the Foundation since it was founded in 1986.

Musk 'wanted 90%' of OpenAI, Altman tells tech titan trial

Elon Musk was obsessed with trying to control OpenAI, the artificial intelligence company's CEO Sam Altman said Tuesday at a blockbuster trial pitting some of the world's wealthiest tech titans against each other.

Oil prices advance, stocks mostly fall on US-Iran deadlock

Oil prices rallied and stock markets mostly fell Tuesday as markets digested the lack of progress towards Middle East peace and awaited a US-China summit.

US appeals court halts order declaring Trump's global 10% tariff illegal

A US federal appeals court on Tuesday temporarily paused a ruling declaring President Donald Trump's global 10-percent tariffs illegal, granting a government request to suspend the decision pending appeal.

Showtime as boycotted Eurovision kicks off

The Eurovision semi-finals kicked off Tuesday amid blasts of dry ice and jets of flame with Israel waiting in the wings, its participation triggering the song contest's biggest-ever political boycott.

Kevin Warsh returns to Federal Reserve with 'regime change' agenda

Kevin Warsh, the incoming chair of the US Federal Reserve, will return to the central bank with an ambitious reform agenda and the looming threat of intimidation by the man who nominated him: US President Donald Trump.

US Senate confirms Trump-nominee Warsh to Federal Reserve board

The US Senate on Tuesday confirmed Kevin Warsh as a governor on the board of the Federal Reserve, clearing the way for him to take the reins of the central bank later this week as the world's largest economy faces inflation at a three-year-high.

Wine consumption slides in 2025

Wine consumption fell worldwide last year, the industry's trade body said Tuesday, amid changing lifestyles and economic pressure on consumers.

Trump due in China for superpower summit with Xi

Donald Trump was due in Beijing Wednesday for the first visit to China by a US president in nearly a decade, as the war he launched on Iran in February added to the heap of issues straining the powers' ties.

Oil prices advance, stocks retreat on US-Iran deadlock

Oil prices rallied and stock markets fell Tuesday as investors braced for further volatility after talks appeared to stall on ending the Middle East war and re-opening the Strait of Hormuz to tanker and cargo ship traffic.

US consumer inflation hits three-year high fuelled by Iran war

Consumer inflation in the United States hit a three-year high in April, government data showed Tuesday, with the economic fallout of the Iran war rippling through the world's largest economy.

Oil prices jump, stocks retreat on US-Iran deadlock

Oil prices rallied and stock markets fell Tuesday as investors braced for further volatility after talks appeared to stall on ending the war in the Middle East and re-opening the Strait of Hormuz to tanker and cargo ship traffic.

South Korea official floats AI profit social tax as tech giants boom

A top South Korean official has proposed a tax on AI profits to be redistributed among society as a semiconductor boom drives massive earnings for tech giants Samsung Electronics and SK hynix.

Vodafone sees signs of recovery amid turnaround plan

British mobile phone giant Vodafone said Tuesday that it sharply reduced its annual losses as it undergoes major restructuring to refocus on its core markets after years of weak performance.

Bayer profit up but glyphosate sales struggle

German agrichemical and pharmaceutical giant Bayer reported Tuesday a bump in first-quarter profit, driven by its agricultural business even as high-stakes lawsuits over its glyphosate weedkillers drag on in the United States.

The China Mail - Economy (English)