Payment processing company Stripe will put up $8 billion in cash and stock to take over OpenRouter, a startup that allows companies to switch among various AI models to find the one that is cheapest or best suited to a particular need.
Tag: Global Economy
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SPOTLIGHT: THE “HORMUZ WAR” SHAKES UP THE SHIPPING INDUSTRY
Iran claims to have blacklisted 45 tankers that have violated its rules for passing through the Strait of Hormuz.
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AI FRENZY VAULTS CHINA’S TECH STOCKS’ VALUATIONS ABOVE U.S. RIVALS
China’s top tech stock index has returned 29 percent this year through 18 August, more than twice the NASDAQ’s 12.4 percent.
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EUROPEANS PILE UP SAVINGS, SLOWING GDP GROWTH
In this year’s first quarter, Europeans’ gross savings ratio – the amount of disposable income not spent on goods and services – was 14.3 percent, rising above the average of 12.5 percent during the five years before the COVID War, the European Union’s statistics office reported.
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U.S., CANADA TRADE TALKS COLLAPSE, BOTH SIDES IMPOSE TARIFFS
Trade negotiations between the U.S. and Canada ended abruptly on 21 August, with both sides saying the other had sprung last-minute changes that were unacceptable.
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GOING OUT OF BUSINESS TRENDS
America’s economic decline continues to spread from Main Street to major corporations.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Companies continue slashing jobs as economic pressures intensify and business conditions weaken.
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SPECIAL REPORT: ECONOMIC D-DAY SANCTIONS
U.S. treasury secretary Scott Bessent has announced new sanctions against Iran’s trading partners that are intended to “sever every economic lifeline” sustaining the country’s economy.
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SPOTLIGHT: BIGS GETTING BIGGER
Ari Emanuel, CEO of the company owning fight franchises UFC and WWE, is buying ATG Entertainment, a British company that owns theaters in Europe, the U.K., and the U.S.
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SPOTLIGHT: CHINA TIGHTENS ITS GRIP ON WORLD AUTO INDUSTRY
Over the past 20 years, Chinese car parts companies have invested in at least 130 European counterparts, particularly in France and Germany, industry data service Rhodium reported.