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- Scientists warn that Euphrates River could face severe drying by 2040
- EPP pushes for EU-US trade deal discussions, Socialist chair insists on 19 May
- Laos detains hostel owner as investigation into methanol poisoning continues
- Sanctions target Hamas amid international criticism of Israel’s settlements
- Manchester’s Gay Village Sealed Off as Hotel Evacuated Following ‘Chemical Incident’
- Turkish Airlines plane catches fire upon landing at Kathmandu airport
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- EU to approve sanctions on Israeli settlers, says Kallas
Business
The EU’s trade deal with South America’s Mercosur bloc has begun provisional implementation after 25 years of negotiations. This agreement forms one of the world’s largest free trade areas, encompassing 720 million consumers and aiming to reduce tariffs on over 90% of bilateral trade.
President Trump announced that the US blockade of Iranian ports is proving effective, urging Tehran to “just give up” amid escalating tensions. Iran’s Parliament Speaker dismissed the blockade’s impact, stating it has only increased global oil prices, while tensions in the Strait of Hormuz continue to disrupt markets.
Meta is laying off 8,000 workers, about 10 per cent of its workforce, to enhance efficiency and focus on artificial intelligence investments. Concurrently, Microsoft is offering voluntary buyouts to approximately 8,750 employees, marking a significant shift for the company amid industry-wide cost adjustments.
The UK economy unexpectedly shrank in October, raising concerns about growth. Analysts warn this could impact future investments and recovery efforts.
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