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In its third round of layoffs under CEO Niccol, Starbucks is cutting hundreds of jobs in US
Starbucks is cutting 300 US jobs and reviewing international corporate roles, marking its third round of layoffs under CEO Brian Niccol. This move, part of a $400 million restructuring, aims to boost profitable growth by sharpening focus and reducing costs. These cuts exclude coffeehouse staff, as the company pursues its 'Back to Starbucks' strategy.
Markets, shops, eateries exempted from early closure timings till May 31
The federal government has allowed temporary exemption of shops, markets and eateries from early closure timing of 8pm, state broadcaster PTV News reported, citing a notification, on Monday. The Cabinet Division notification dated May 18 states that Prime Minister Shehbaz Sharif has given the approval to exempt “with immediate effect and till May 31” several entities from the closure timings specified in a April 6 notification. According to the lat...
Iran war "re-escalation risks" hike oil prices after latest Trump threat
Live Live Updates: Iran war "re-escalation risks," new Trump threat drive up oil prices as diplomacy staggers on By Tucker Reals Tucker Reals Editor Tucker Reals is CBSNews.com's foreign editor, based in the CBS News London bureau. He has worked for CBS News since 2006, prior to which he worked for The Associated Press in Washington, D.C., and London. Read Full Bio Tucker Reals May 18, 2026 / 6:31 AM EDT / CBS News Add CBS News on Google What to know about the Iran war today:Iran says it's conve...
The Three Consistent Words That Fueled Cerebras’ Blockbuster IPO
LeadershipLeadership StrategiesThe Three Consistent Words That Fueled Cerebras’ Blockbuster IPOByCarmine Gallo,Senior Contributor.Forbes contributors publish independent expert analyses and insights. Harvard instructor and bestselling author on leadership communication.Follow AuthorMay 18, 2026, 06:30am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.Andrew Feldman, co-founder and chief executive officer of Cerebras,rings...
US Tells Iran ‘Clock Is Ticking’, Stocks Fall as Brent Hits $110 | The Opening Trade 5/18/2026
US President Donald Trump expressed frustration with Iran and told it the “clock is ticking,” hours after drones targeted a nuclear power plant in the United Arab Emirates. Tehran “better get moving, FAST, or there won’t be anything left of them,” Trump said on Truth Social on Sunday. These were his most belligerent comments regarding the Iran war, which remains in a fragile ceasefire, since he returned to the US from China on Friday. Stocks fell as the stalemate between the US and Iran kept d...
Donald Trump reportedly spent $200 million-plus on stocks of these 4 tech companies
President Donald Trump's latest disclosure reveals more than 3,700 stock trades worth $220 million to $750 million in Q1 2026, with heavy buying and selling in Microsoft, Meta, Amazon, and Nvidia. The filing shows Nvidia and AMD purchases days before key US chip export approvals for China, reigniting conflict-of-interest concerns. The White House denies any wrongdoing, citing a discretionary trust managed by Trump's children.
Award of power purchase agreement for the continuous renewable energy project in Mahout and Duqm
Nama Power and Water Procurement and O-Green celebrated the signing of the award of the Power Purchase Agreement for the Continuous Renewable Energy Project, combining wind, solar and battery energy storage systems in the wilayats of Mahout and Duqm, with a total installed generation capacity of 2.7 gigawatts. The signing ceremony was held under the patronage of Sultan bin Salim bin Said Al Habsi, Minister of Finance.The award letter was signed on behalf of Nama Power and Water Procurement by Ah...
Magrabi Retail signs agreement to acquire a majority stake of leading Egyptian retailer Baraka Optics Group
MAGRABI Retail, the Middle East’s largest eyewear retailer, announces the proposed acquisition of 51per cent of the issued share capital of the Baraka Optics Group, one of the largest premium optical retail chains in Egypt. The transaction remains subject to customary regulatory approvals, including clearance from the Egyptian Competition Authority.Founded in 1979 by Mohamed Fathy Ragab as a wholesale optics business, Baraka evolved into one of the pioneers of organized optical retail in Egypt,...
Trump’s immigration crackdown could cost up to $479bn in lost taxes over 10 years
Proposed IRS data sharing with immigration authorities and ICE raids have made filing risky for those who are undocumentedThe Trump administration’s immigration crackdown could cause the US to potentially lose up to $479bn in lost tax revenue over the the next 10 years, with enforcement deterring undocumented workers from filing their taxes this year, according to tax experts.Tax advisers say major changes, including proposed data sharing with immigration enforcement, have made filing taxes risk...
Major British bank offers cashback worth £242 on household bills — Limited time only
Zopa Bank has doubled the cashback available on household bills for customers using its Biscuit current account, increasing the rate from two per cent to four per cent for a limited period.The digital lender, which serves around two million customers across the UK, said account holders could earn up to £242 a year through cashback and interest.Customers receive cashback on household bills paid by direct debit, including energy, broadband and council tax.The enhanced four per cent rate applies to...
AI's Exposing A Capacity Crisis In Manufacturing
InnovationAI's Exposing A Capacity Crisis In ManufacturingBySanjay Brahmawar,Forbes Councils Member.for Forbes Technology CouncilCOUNCIL POSTExpertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. | Membership (fee-based)May 18, 2026, 06:00am EDTBy Sanjay Brahmawar, CEO, QAD|Redzone. Works with manufacturers to help frontline teams move faster and make better decisions. gettySpend enough time in manufacturing, and you'll hear concerns about AI...
West Ham relegation may cost London taxpayers £2.5m
West Ham relegation may cost London taxpayers £2.5mImage source, Getty ImagesImage caption, A 3-1 defeat to Newcastle on Sunday left West Ham on the brink of relegation from the Premier LeagueByAlex BrothertonBBC Sport journalistPublished1 minute agoCommentsLondon taxpayers may have to pay an extra £2.5m if West Ham are relegated from the Premier League this season, because of the club's lease agreement for London Stadium.The Hammers are 18th in the table with one match remaining, and will be as...
Emirates breaks ground on US$ 5.1 billion ultra-modern engineering facility at Dubai South - Emirates 24|7
Emirates breaks ground on US$ 5.1 billion ultra-modern engineering facility at Dubai South Emirates 24|7
Do UAE tenants now need approved credit checks before signing rental contracts?
Dubai: Is the UAE rental market now entering a new phase of financial screening? Private landlords across the country can now request the credit scores of prospective tenants through a new “Tenant Screening” solution launched by Etihad Credit Bureau in collaboration with UAE PASS.Get updated faster and for FREE: Download the Gulf News app now - simply click here.For UAE residents searching for homes, the move could gradually change how rental applications are assessed. For landlords, it introduc...
Tanker Tally at Iran’s Kharg Island Hits Post-Blockade Peak
Some 23 tankers have been spotted around Iran’s principal oil-export hub, the largest cluster to have gathered at the island since the US Navy began a blockade on the country’s ports a month ago, interdicting and seizing ships.
Oil prices rise and bonds wobble as Iran war stokes inflation fears
Trump warning over peace talks drives up crude price as UK gilts hit by uncertainty over Starmer leadershipBusiness live – latest updatesOil prices rose and global bonds wobbled on Monday, as fresh tensions in the Middle East fed inflation fears and bets that central banks will have to increase interest rates.Brent crude, the international benchmark for oil, rose on Monday, after an attack on a nuclear power plant in the United Arab Emirates. Continue reading...
Korea’s Homeplus, Meritz Tussle Over $67 Million Loan Terms
South Korean retailer Homeplus Co. is objecting to a condition tied to a roughly 100 billion won ($67 million) bridge loan from its largest creditor Meritz Financial Group, placing the emergency funding at risk.
Rupiah and Rupee hit record lows as oil surge and rising global yields rattle Asian markets - Emirates 24|7
Rupiah and Rupee hit record lows as oil surge and rising global yields rattle Asian markets Emirates 24|7
Ryanair ‘confident’ it will avoid jet fuel shortage but warns of future fare rises
Airline says travellers are leaving it longer to book and those buying flights later this year could face higher pricesBusiness live – latest updatesRyanair is “confident” it will not face a jet fuel shortage this summer amid fears over widespread cancellations linked to the Iran war, but warned holidaymakers booking their flights later this year could face higher fares.Neil Sorahan, the chief financial officer at the budget airline, said he was “increasingly confident that we will not see any s...
UAE sets monthly salary deadline for private sector from June 1
The Ministry of Human Resources and Emiratisation (MOHRE) has issued a new rule requiring private sector companies to pay employee salaries on the first day of every month beginning June 1, 2026, as part of efforts to strengthen wage protection and labour compliance.Under Ministerial Resolution No. 340 of 2026, salaries for the previous month must be transferred through the approved Wage Protection System (WPS) or any other payment systems authorised by the ministry. Any payment made after the d...