The time is ripe to cut interest rates next week, European Central Bank’s Rehn says
“Thanks to this disinflationary process … the time is thus ripe in June to ease the monetary policy stance and start cutting rates,” the ECB’s Olli Rehn said.
Financial News
Rise of resort day passes offers travelers luxury on a budget
ResortPass holds 95% of the day-guest market and has partnered with luxury hotels including the Waldorf-Astoria, JW Marriott and Fontainebleau.
Google criticized as AI Overview makes obvious errors, such as saying former President Obama is Muslim
Public criticism has mounted over Google’s AI Overview feature in Search, which has returned inaccurate or nonsensical results, according to screenshots.
Turkish markets are ‘on the verge of a renaissance moment,’ Citi says
New economic and central bank team appointments since roughly a year ago appear dedicated to reversing Turkey’s fortunes, no matter how painful the process.
Alibaba bets on AI to fuel cloud growth as it expands globally to catch up with U.S. tech giants
Alibaba is betting on international expansion and its AI products to reignite growth at its struggling cloud computing division.
‘I was too trusting’: Ex-Post Office boss apologizes after widespread miscarriage of justice in Britain
Vennells said she was “disappointed … information wasn’t shared,” after the Post Office pushed for the wrongful convictions of hundreds of subpostmasters.
One dead, 30 injured as Singapore Airlines flight encounters severe turbulence
One person has died aboard a Singapore Airlines flight which was diverted to Bangkok due to turbulence.
Iran’s President Raisi is dead. What does the leadership void mean for the country and the world?
All eyes are now on what comes next for the Middle Eastern power, which is home to nearly 90 million people and backs a number of regional proxy groups.
Microsoft set to unveil its vision for AI PCs at Build developer conference
Microsoft Build 2024 starts Tuesday, and the company is expected to talk about how Windows will power new “AI PCs.”
OpenAI dissolves team focused on long-term AI risks, less than one year after announcing it
OpenAI has dissolved its Superalignment team amid the high-profile departures of both team leaders, Ilya Sutskever and Jan Leike.