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Taiwan's UMC sees headwinds, but predicts resilient demand and will raise prices

Taiwanese chipmaker UMC said on Wednesday that it continues to see resilient market demand despite headwinds from memory chip supply shortages and the impact of the Iran war, and it will raise prices from the second half of this year.• Going into the second quarter, the company expects strong wafer shipments supported by a rebound in demand in the communications segment as well as healthy demand across computer, consumer and industrial markets, UMC said in an earnings statement.• "While the current memory supply shortage and the ongoing conflict in the Middle East are creating certain hea

Wall Street futures mixed ahead of Big Tech earnings, Fed meeting

Another Russian oil facility burns after Zelenskyy touts Ukraine’s drone reach

Business|Economy|Science|Technology

Elon Musk to return to witness stand in trial over OpenAI's future

Elon Musk is set to return to the witness stand on Wednesday in a high-stakes trial over a lawsuit he brought against OpenAI, alleging the company ditched its mission to be a responsible steward of AI for humanity in pursuit of profits. In testimony on Tuesday before a nine-person jury in Oakland, California federal court, the world's richest person sharply criticized the 2019 decision by the nonprofit OpenAI co-founder and Chief Executive Sam Altman and its President Greg Brockman to create a for-profit entity."If we make it okay to loot a charity, the entire foundation of charitable givin

What the Fed has seen about the war's impact on the economy so far

Robinhood shares fall as crypto slump dents trading volume growth

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Inside SpaceX's IPO: Musk's most ambitious plan yet

In the days after the PayPal IPO in 2002, Elon Musk and company executives gathered at a Las Vegas casino to celebrate. But while others socialized by the pool, Musk was hunched over an old Soviet rocket manual and already planning his next venture: SpaceX.“He’d come off what was an unequivocally big win, he was one of the largest shareholders, and yet he was focused on this next thing,” Kevin Hartz, an early PayPal investor who was at the party, told Reuters. “Now it’s a multi-trillion-dollar business.”In the two decades since Musk took the reins at SpaceX, the company has grown

Hyperscaler results pose major test for AI-driven US stock market

Fed chief nominee Warsh set to clear key confirmation hurdle on Wednesday

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Supreme Court to weigh Trump administration push to end protections for Haitian, Syrian migrants

The Supreme Court will hear arguments Wednesday over the Trump administration’s push to end legal protections for migrants fleeing war and natural disaster, one in a series of immigration cases the high court is considering against the backdrop of the president’s far-reaching immigration crackdown. The government is appealing lower court orders that blocked the Department of Homeland Security from quickly ending temporary protected status for people from Haiti and Syria. If the justices agree with the Trump administration, authorities could potentially strip protections from

US pump prices near 4-year high on Iran war disruption, refinery outages

The average U.S. gasoline price rose to its highest level in nearly four years after the U.S. and Israel attacked Iran at the end of February, according to data from the American Automobile Association.Average prices at the pump rose 7 cents to $4.18 a gallon on Tuesday, representing the biggest single-day increase in more than a month, AAA data showed. Gasoline prices have climbed $1.19 a gallon, or more than 40%, since late February.Motorists around the country have been feeling pain at the pump as energy costs soar amid conflict in the Middle East that has choked shipping traffic through t

Senate rejects attempt to end Trump's blockade of Cuba

LIV Golf moves to postpone New Orleans event amid clouded future

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Jalen Brunson scores 39 points and the Knicks rout the Hawks 126-97 for a 3-2 series lead

Jalen Brunson scored 39 points, nearly extending his own franchise record for 40-point playoff games, and the New York Knicks routed the Atlanta Hawks 126-97 on Tuesday night for a 3-2 lead in the first-round playoff series. With their second straight lopsided victory, the Knicks positioned themselves to win the series Thursday night in Atlanta. They would have another chance at home in Game 7 if they need it — and it's getting harder to picture why they should. The Hawks took a 2-1 lead in the series with one-point victories in Games 2 and 3, but a pretty sizabl

GM lifts profit outlook, flags expected tariff refund

General Motors posted on Tuesday a 22% rise in first-quarter core profit and lifted its full-year earnings forecast, buoyed by a resilient U.S. car market and an expected tariff refund. The largest U.S. automaker by sales comfortably beat analysts' profit estimates while navigating a fast-changing geopolitical and regulatory backdrop that is reshaping the industry. U.S. tariffs and higher energy costs linked to the Iran war are weighing on results, even as looser U.S. pollution and fuel-economy rules introduced last year under President Trump are lifting margins.Pickup-truck sales, a key prof

JPMorgan CEO says not worried about inflation, risks remain of higher prices

James Comey responds to new indictment over alleged ‘threat’ against Trump

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A lifeline for Haiti could soon be severed by the US Supreme Court

Ysmael is already feeling the squeeze of rising prices in Haiti. “Everything has gone up,” she says in a World Food Programme video, from the fare for a ride on a “tap-tap” bus to the cost of putting dinner on the table, all due to fuel price hikes linked to the Iran war.But those who managed to leave the violence-wracked, impoverished nation, making a life for themselves in the United States, are helping people back home stay afloat. That money has been a lifeline for many, in one of the most remittance-dependent countries in the world.That could come to a grinding halt if the US Supr

Europe|Political|Travel|World

King Charles III and Queen Camilla visiting 9/11 Memorial and other NYC landmarks as part of US trip

King Charles III and Queen Camilla are headed to New York on Wednesday as part of their closely watched diplomatic visit to the U.S. The royal couple’s swing through the city comes midway through a four-day trip marking 250 years of American independence. It will be the first trip to New York by a reigning British monarch since Queen Elizabeth II visited in 2010. They are expected to take part in a wreath-laying ceremony at the National 9/11 Memorial, where they will meet with first responders and the families of victims of the Sept. 11 attacks. New York City May

EU says Meta is failing to keep underage users off Facebook and Instagram

Melania Trump and Queen Camilla play supporting roles during state visit

Economy|Environment|Political|World

UAE quits OPEC in blow to cartel that could reshape global oil markets

The United Arab Emirates will leave OPEC, a decades-old cartel of the world’s top oil exporters, delivering a shock that will ripple through global oil markets at a time of unprecedented turmoil caused by the Iran war.The UAE plans to withdraw from the Organization of the Petroleum Exporting Countries, or OPEC, on Friday, the UAE’s state news agency WAM reported Tuesday. The decision also extends to OPEC+, a larger group that consists of other oil producers such as Russia.The decision followed a review of the UAE’s “current and future (production) capacity and is based on our national

Americas|Sports|World

Pastrnak scores 9:14 into OT and Bruins avoid elimination with 2-1 win over Sabres

When Hampus Lindholm got the puck inside Boston's blue line after teammate Fraser Minten broke up the Buffalo Sabres' rush, and the Bruins defenseman knew immediately who to look for. Sure enough, there was David Pastrnak already heading toward Buffalo’s zone. Set up by Lindholm, Pastrnak scored on a breakaway 9:14 into overtime, and the Bruins avoided elimination with a 2-1 win in Game 5 of their first-round playoff series on Tuesday night. “He’s pretty special when it comes to those opportunities, too, so it was fun to see it go in,” Lindhol