The European Commission has unveiled its so-called “AI Continent Action Plan,” which aims to “transform Europe’s strong traditional industries and its exceptional talent pool into powerful engines of AI innovation and acceleration.” The EU has faced criticisms from tech leaders that its regulations on everything from AI to taxation hinder innovation and make it more…

The Trump administration has initiated a new national security review of Nippon Steel Corp’s bid to acquire U.S. Steel, potentially reviving the $14.9bn deal previously blocked by President Joe Biden. The Committee on Foreign Investment in the United States (CFIUS) had deadlocked over national security concerns, prompting lawsuits from U.S. Steel and Nippon Steel, which…

Shopify chief executive Tobi Lütke has circulated a staff memo stating that the company will not be making any new hires unless managers can prove that artificial intelligence isn’t capable of performing the tasks. Teams at the e-commerce company need to integrate AI into their workflows, and doing so will be expected of all employees…

JPMorgan Chase has reported that President Donald Trump’s cumulative tariff increases have reached approximately 22%, marking the largest tax hike since 1968. The bank has raised the risk of a global recession to 60%, citing potential repercussions from retaliation, supply chain disruptions, and a sentiment shock. A note from the bank warns that “sustained restrictive…

Deutsche Bank is warning about a potential crisis of confidence in the U.S. dollar, saying that major shifts in capital flow allocations could take over from currency fundamentals. The dollar, which is the world’s primary reserve currency, faced significant selling pressure following U.S. President Donald Trump’s tariff announcements, raising fears of a recession. George Saravelos…

Reuters reports that President Donald Trump’s announcement of reciprocal tariffs is a political risk for his party and could bring economic pain to his constituents if his promises to overhaul the U.S. economy do not deliver. Experts believe it will take years to revitalize U.S. manufacturing, alter supply chains and reshore production, the goals which…