Business
OpenAI would invest $1 trillion in infrastructure to boost compute for its AI models, Kathimerini reported, a claim that prompted concerns about the plan’s financial and environmental sustainability.
Gold topped $4,000 per ounce for the first time on Wednesday as investors sought safe havens amid a US government shutdown, geopolitical tensions and economic uncertainty.
Investors piled into emerging-market stocks and sovereign bonds as a weakening dollar fueled a rally, while analysts warned the AI-led surge risked creating a speculative bubble.
Amazon ran its Prime Day sale, offering steep discounts on electronics, home and kitchen items — some marked down by up to 67%.
European banks were criticized for profiting by keeping deposit rates low and mistreating vulnerable customers, and regulators faced renewed scrutiny over oversight and non-bank financial activity.
Tesla launched cheaper, stripped-down Model 3 and Model Y versions in the United States, priced around $37,990–$39,990, trimming range and features to revive sales after U.S. EV subsidy changes.
Major carmakers revived petrol models, citing higher tariff-related costs and rising competition from cheap Chinese EVs, as analysts warned pure-EV roadmaps were increasingly unaffordable.
BMW cut its annual profit guidance, saying weak sales in China and higher-than-expected U.S. tariff costs would reduce earnings, hours after reporting higher deliveries.
Oracle shares fell Tuesday after reports said its AI-focused cloud services were far less profitable than analysts expected, a development that also pressured Nvidia’s stock.
Germany faced mounting housing pressure as little new construction coincided with roughly one million vacant apartments, while investors snapped up prime Munich properties and regional price winners emerged.
The World Trade Organization said global trade grew more strongly than expected in 2025, lifted by AI-related commerce and U.S. tariff-driven import front‑loading, but would slow in 2026.
U.S. stock indices fell after hitting record highs as investors reacted to a Federal Reserve report and renewed fears of an AI-driven market crash.
