On June 20, Kroger Co. $KR, one of the largest grocery chains in the United States, announced a significant operational restructuring. The company plans to close 60 stores over the next 18 months, representing approximately 2% of its total footprint across 35 U.S. states. While specific locations have not been disclosed, the closures mark a clear move to enhance financial efficiency and streamline underperforming assets.
Meta Platforms Inc. $META, the parent company of Facebook, has reportedly offered bonuses of up to $100 million to OpenAI employees, aiming to lure top engineering talent as part of an aggressive expansion of its artificial intelligence division. The revelation came directly from OpenAI CEO Sam Altman, highlighting the escalating competition among major tech firms to secure top minds in artificial intelligence and machine learning development.
Ethereum $ETHUSD remains locked in a volatile consolidation range, trading between $2400 and $2800, as heightened geopolitical risks stemming from the ongoing Israel-Iran conflict continue to weigh on global investor sentiment. The second-largest cryptocurrency by market capitalization has failed to sustain momentum above key resistance levels, underscoring weak risk appetite and a cautious outlook in the digital asset space.
Woodside Energy Group Ltd $WDS, Australia’s leading oil and gas producer, and the federal government have agreed to extend the consultation period for the North West Shelf (NWS) LNG extension project. This development follows last month’s conditional environmental approval, as stakeholders seek clarity on the terms imposed on the expansion of Australia’s oldest and most strategically significant liquefied natural gas (LNG) facility.
As climate volatility increasingly threatens global agricultural stability, Brazil’s Cerrado Mineiro region — a core production zone for high-grade Arabica coffee — is witnessing a strategic shift. Nestlé $NESN.SW, a major stakeholder in the international coffee value chain, is now supporting trials of Conilon coffee (a variety of Robusta/Canephora) in traditionally Arabica-dominated areas. This pivot reflects both climatic realities and the evolving economics of coffee cultivation.
Vanguard, one of the world’s largest asset managers, has filed with the U.S. Securities and Exchange Commission (SEC) to launch a new exchange-traded fund (ETF) that will specifically exclude Chinese equities from its portfolio. The proposed Vanguard Emerging Markets Ex-China ETF marks a pivotal moment at the intersection of geopolitics and investment management.
The International Air Transport Association (IATA) announced on Sunday that sustainable aviation fuel (SAF) production is expected to double in 2025, reaching 2 million tonnes. This volume will represent approximately 0.7% of total jet fuel consumption by airlines globally. Despite this projected growth, IATA continues to warn that the pace of SAF adoption remains insufficient for airlines to meet ambitious environmental and sustainability targets.
On Tuesday, SpaceX launched its most powerful spacecraft, the 400-foot Starship, from its Texas Starbase. The launch, designed as a critical test of Elon Musk’s Mars exploration architecture, ended prematurely after the rocket lost control mid-flight. While the rocket surpassed the altitude achieved by previous failed tests earlier this year, it did not reach its most ambitious testing milestones.
On Tuesday, Southwest Airlines $LUV, a major U.S. carrier known for its customer-friendly policies, announced a significant change: the introduction of fees for checked baggage. The airline will now charge passengers $35 for the first checked bag and $45 for the second, except for certain elite customers. This move officially marks the end of Southwest’s long-standing policy of free checked bags, which had been a unique selling point in the competitive U.S. airline market.
Over the weekend, users across the United States experienced a widespread disruption of the social media platform X, formerly known as Twitter. The outage, tracked by Downdetector.com, impacted tens of thousands of accounts and drew renewed attention to the technical stability of the platform under Elon Musk’s ownership. Shortly after services began to normalize, Musk publicly declared a renewed round-the-clock commitment to X, his artificial intelligence startup xAI, electric vehicle giant Tesla Inc $TSLA, and the upcoming Starship launch under SpaceX.
Citigroup Inc. $C has appointed Prashant Tucker as Head of Corporate Banking for South and Southeast Asia, a move that reflects the bank’s broader strategic ambition to deepen regional operations and enhance corporate client engagement across emerging Asian markets. The appointment, effective immediately, comes at a time when global financial institutions are recalibrating their regional priorities to capture post-pandemic growth and adapt to shifting economic conditions.
Nvidia Corp. $NVDA, a dominant force in the artificial intelligence (AI) semiconductor market, is preparing to launch a new, cost-effective AI chip specifically for the Chinese market. This move follows stringent U.S. export controls that previously curtailed the availability of Nvidia's high-performance AI processors, including the H20 model. Sources familiar with the matter confirm that mass production of the new chip is set to begin in June.
