Since Israel escalated its attacks on Iran on 13 June, the price of jet fuel has rocketed up 45 percent and diesel fuel by volume costs 60 percent more than crude oil, the Argus data service reported.
Author: admin (Kendrick Williams)
Post
CANADA’S CENTRAL BANK: TRADE WAR COULD PROMPT JOB LOSSES, RATE CUT
Officials at the Bank of Canada (BoC) are closely tracking job losses in manufacturing and other parts of the economy most exposed to Donald Trump’s 25-percent tariffs.
Post
CENTRAL BANKS WILL CONTINUE STOCKPILING GOLD
In a new World Gold Council survey, 95 percent of the more than 70 central banks responding said they expect to add to their gold reserves this year and that their dollar reserves will decline over the next five years.
Post
CHINA’S ECONOMY WEAKENED AGAIN IN MAY
China’s factory production rose 5.8 percent in May from a year earlier, down from 6.1 in April and marking its weakest performance so far in 2025, the National Bureau of Statistics reported.
Post
AI BRIEFS
Amazon will put at least $20 million into building out its AI infrastructure in Pennsylvania, the company has announced.
Post
U.K. SHORT ON COMPUTING POWER TO DEVELOP AI, HUANG SAYS
The U.K. is putting together the pieces of a first-rate AI ecosystem but still lacks the computing infrastructure to make the most of it, Nvidia CEO Jensen Huang said earlier this month.
Post
GOOGLE’S GEMINI IS NOW A BRITISH CIVIL SERVANT
At the London Tech Week extravaganza this month, U.K. prime minister Keir Starmer extolled the virtues of Extract, a new AI tool to help local planning commissions.
Post
CHINESE STARTUP SAYS IT’S BETTER THAN DEEPSEEK
MiniMax, yet another Chinese AI developer, says its new, open-source MiniMax-M1 model, is more efficient than closed-source Chinese competitors and also bests DeepSeek's latest R1-0528 model in several standard tests.
Post
TRAIN ‘EM YOUNG: OPENAI, TOYMAKER MATTEL FORM PARTNERSHIP
OpenAI, creator of ChatGPT and Mattel, parent of Barbie and Ken, have announced a “strategic collaboration” to build OpenAI’s technology into Mattel’s toys to “bring the magic of AI to age-appropriate play experiences,” according to the company.
Post
AI WILL ALLOW AMAZON TO CUT WHITE-COLLAR JOBS, CEO SAYS
Amazon’s office workers have been told they’re in danger of being replaced by bots, according to a 17 June memo from CEO Andy Jassy.