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European Stocks Retreat Amid Middle East Escalation
European equities opened sharply lower on Friday as geopolitical tensions escalated following Israel’s early morning strikes on Iranian territory. The broad-based STOXX Europe 600 $^STOXX index fell 1%, with red dominating across nearly all sectors. Only the energy complex, buoyed by rising crude prices, remained in positive territory. The intensification of conflict in the Middle East renewed investor anxiety, triggering a defensive rotation away from risk assets. Equity markets across Europe reacted swiftly to the overnight developments, reflecting heightened sensitivity to geopolitical shocks in a macro environment already challenged by interest rate uncertainty and subdued economic momentum.
Apple Redirects India iPhone Exports to U.S. Amid Rising China Tariffs
Apple Inc. $AAPL has significantly altered its global export strategy, with nearly all iPhones manufactured by Foxconn in India between March and May 2025 shipped directly to the United States. According to newly reviewed customs data, over 90% of India-made iPhones during this period were exported to the U.S.—a sharp deviation from the 2024 average of roughly 50%.
Meta Invests $14.3 Billion in Scale AI, Expanding Push into Artificial General Intelligence
Meta Platforms Inc. $META has taken a bold step toward advancing artificial general intelligence (AGI) by acquiring a 49% stake in data-labeling startup Scale AI. The $14.3 billion investment, which values Scale AI at $29 billion, marks one of the most significant private-sector deals in the AI industry to date.
Gulf Air's strategic return to Nairobi is igniting fresh optimism for East Africa's aviation future.
Gulf Air’s return to Nairobi is a bold reentry that could reshape East Africa's aviation landscape.