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Fortnite applies to launch on Apple’s App Store after Epic Games court win

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Epic Games said on Friday that it submitted Fortnite to Apple’s App Store, the month after a judge ruled in favor of the game maker in a contempt ruling.

Fortnite was booted from iPhones and Apple’s App Store in 2020, after Epic Games updated its software to link out to the company’s website and avoid Apple’s commissions. The move drew Apple’s anger, and kicked off a legal battle that has lasted for years.

Last month’s ruling, a victory for Epic Games, said Apple was not allowed to charge a commission on link-outs or dictate if the links look like buttons, paving the way for Fortnite’s return.

Apple could still reject Fortnite’s submission. An Apple representative did not respond to CNBC’s request for comment. Apple is appealing last month’s contempt ruling.

The announcement by Epic Games is the latest salvo in the battle between it and Apple, which has taken place in courts and with regulators around the world since 2020. Epic Games also sued Google, which operates the Play Store for Android phones.

Last month’s ruling has already shifted the economics of app development for iPhones.

Apple takes between 15% and 30% of purchases made using its in-app payment system. Linking to the web avoids those fees. Apple briefly allowed link-outs under its system but would charge a 27% commission, before last month’s ruling.

Developers including Amazon and Spotify have already updated their apps to avoid Apple’s commissions and direct customers to their own websites for payment.

Before last month, Amazon’s Kindle app told users they could not purchase a book in the iPhone app. After a recent update, the app now shows an orange “Get Book” button that links to Amazon’s website.

Fortnite has been available for iPhones in Europe since last year through Epic Games’ store. Third-party app stores are allowed in Europe under the Digital Markets Act. Users have also been able to play Fortnite on iPhones and iPads through cloud gaming services.

This post appeared first on NBC NEWS

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Fresh round of US-Iran talks underway in Oman as two sides try to overcome deep divisions

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A fourth round of talks between the US and Iran on Tehran’s nuclear program have begun in Oman, according to Iranian state media, with the two sides aiming to overcome divisions that could scupper the tentative negotiations.

The talks, held indirectly, are the latest between the two countries, and are aimed at addressing Tehran’s nuclear program and lifting sanctions.

The Iranian delegation is led by Foreign Minister Abbas Araghchi, who said before the talks got underway that the US side “holds contradictory positions which is one of the issues in our negotiations.”

“We have been clear about our boundaries,” Araghchi added, according to the Fars news agency.

US special envoy Steve Witkoff, who has been heading the American side, warned that if talks were not productive, “then they won’t continue and we’ll have to take a different route.”

Speaking to Breitbart, Witkoff outlined the US’ expectations for the talks, including on the country’s uranium enrichment program. “An enrichment program can never exist in the state of Iran ever again. That’s our red line. No enrichment,” he said.

Iran has said it will not surrender its capability to enrich uranium. The country has long insisted it does not want a nuclear weapon and that its program is for energy purposes.

This is a developing story and will be updated.

This post appeared first on cnn.com

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‘Never again war!’ Pope Leo calls for peace in Ukraine and Gaza in first Vatican address since his election

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Pope Leo XIV stepped out onto the balcony of St. Peter’s Basilica to thunderous applause and an electric atmosphere, to deliver his first Sunday blessing and an address calling for peace in Ukraine and Gaza.

The last time he stood on the same velvet-draped ledge, the fragrant scent of white smoke was still hanging in the air and looks of shock permeated the crowd. Just days ago, the election of a US-born pope seemed almost impossible.

But those gathered in St. Peter’s Square on Sunday knew exactly what to expect – a pontiff who was born in Chicago, shaped in Peru and well-experienced in Vatican leadership.

“Let us take up the invitation that Pope Francis left us in his Message for today: the invitation to welcome and accompany young people,” Leo said Sunday from the balcony, speaking in fluent Italian. “And let us ask our heavenly Father to assist us in living in service to one another.”

“In today’s dramatic scenario of a third world war being fought piecemeal, as Pope Francis said, I too turn to the world’s leaders with an ever timely appeal: never again war!,” he said.

Pope Leo called for peace in Ukraine, as well as a ceasefire in Gaza and the release of hostages. He also called for humanitarian aid to be provided “to the exhausted population” in Gaza.

“I welcomed the announcement of the ceasefire between India and Pakistan and I hope that through negotiations we can reach a lasting agreement,” he added.

He delivered a “message of peace” and led the faithful crowd in the Regina Caeli (“Queen of Heaven”) prayer for the first time, surprising those gathered by singing part of the prayer.

The prayer is one of four Marian antiphons, or prayers to the Virgin Mary, which is said throughout the Easter season.

The city of Rome said 150,000 people were expected to gather in St. Peter’s Square for the prayer and significant law enforcement resources are deployed, but an official estimate of the crowd has yet to be announced.

The square was booming with music ahead of Leo’s address, as hundreds of musicians from around the world marched into St. Peter’s Square for a Jubilee of Bands, playing classic songs from their home countries and even pop songs like Village People’s 1978 hit “YMCA.”

As he finished his address, loud shouts of “viva il papa,” or “long live the pope,” were heard among the tens of thousands of people.

Pope Leo is indicated on Saturday that his papacy will follow closely in the footsteps of the late Pope Francis, setting out a vision for a church led be a missionary focus, courageous dialogue with the contemporary world and “loving care for the least and the rejected.”

Leo is expected to lean in a more progressive way on social issues like migration and poverty but fall more in line with moderates on moral issues of Catholic doctrine.

In his first meeting with cardinals on Saturday, the new pontiff said that he chose his papal name to continue down the path of Pope Leo XIII, who addressed “the social question in the context of the first great industrial revolution.” Leo XIII, who was pope from 1878 to 1903, had a strong emphasis on workers’ rights and Catholic social doctrine.

Leo XIV also used his first weekend as pontiff to visit the Basilica di Santa Maria Maggiore, where he prayed at the tomb of Francis.

He also traveled to an Augustinian sanctuary just outside Rome, the Madonna del Buon Consiglio (Mother of Good Counsel), in Genazzano, Italy.

Leo is the first pontiff from the Augustinian order, which places an emphasis on service work and building community. He spent more than a decade leading the Augustinians as the prior general, giving him experience of heading an order spread across the world.

Even larger crowds are expected to fill St. Peter’s Square during Pope Leo’s installation Mass, which will take place on Sunday, May 18.

This post appeared first on cnn.com

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Week Ahead: NIFTY Stays In Technically Challanging Environment; Price Action Against These Levels Crucial

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Amid ever-increasing uncertainties on the global front and similarly rising geopolitical tensions between India and Pakistan, the Indian equity markets demonstrated strong resilience. They consolidated before ending the week on just a modestly negative note. The trading range remained modest; the Nifty oscillated in a 590-point range. While the markets defended their key support levels, the volatility surged. The volatility barometer, the India Vix, spiked 18.49% to 21.63 on a weekly basis.. The headline index finally closed with a net weekly loss of 338.70 points (-1.39%).

A few important things to note from a technical perspective. The 200-DMA is at 24044; the 50-week MA is at 23983. This makes the zone of 23950-24050 a very important support zone for the Nifty. So long as the Index is able to defend this zone, it will continue consolidating in a defined range. Incremental weakness would creep in only if the 23900 level is violated decisively. On the higher side, as evident from the charts, the markets have continued to resist the rising trendline resistance. From now on, the Nift’s behavior vis-à-vis the zone of 23950-24050 would be crucially important to watch; the Index’s ability to defend or not defend this zone will dictate the trend over the coming weeks.

The levels of 24350 and 24600 are expected to act as probable resistance points in the coming week. The supports are at 23900 and 23630.

The weekly RSI is 54.36; it stays neutral and does not diverge against the price. The weekly MACD is bullish and stays above its signal line. A bearish engulfing candle has emerged. Its emergence near a pattern resistance adds credibility to the resistance placed near 24500-24600.

The pattern analysis of both daily and weekly charts shows that the Nifty has traded quite on the expected lines and within the analyzed range. It has continued resisting the rising trendline resistance near 24500-24600; it has so far defended the key that is created between the 200-DMA and the 50-week MA. The markets would weaken only if they violate the crucial 23900 level; so long as this point stays defended, we can expect the markets to consolidate in a defined range.

Based on the overall technical structure, it is likely that the markets will not see any immediate upward trend. While if the markets end up breaching the 23900 level remains to be seen, it is doubtful that they will initiate any sustainable trending upmove and move past the 24500 levels soon. The hedging activity and the cost of hedging have increased; this is evident from Vix, which has significantly risen over the past few days. While the Nifty has defended the key support levels so far, it remains in a technically challenging environment. It is strongly recommended that the market participants adopt a defensive approach by focusing on the low beta stocks and the stocks with improving relative strength. Staying low on leveraged positions, a continued cautious outlook is advised for the coming week.

Sector Analysis for the coming week

In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocks. 

Relative Rotation Graphs (RRG) show that the Nifty PSE Index has rolled inside the leading quadrant. Infrastructure, Nifty Bank, PSU Bank, FMCG, Consumption, Commodities, and the Financial Services Indices are also inside the leading quadrant. These groups are likely to outperform the broader Nifty 500 Index relatively.

The Nifty Metal Index has rolled inside the weakening quadrant. This may cause the sector to slow down and give up on its relative performance. The Services Sector index also remains in this quadrant.

While the Nifty IT Index continues to languish in the lagging quadrant, the Auto and the Realty Indices are sharply improving their relative momentum against the broader markets while staying inside this quadrant.

The Nifty Midcap 100 index has rolled inside the improving quadrant; may see its relative performance bettering over the coming days. The Media and the Energy Indices are also inside this quadrant, and may continue seeing improvement in their relative performance against the broader markets.

Important Note: RRG charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.  

Milan Vaishnav, CMT, MSTA

Consulting Technical Analyst

www.EquityResearch.asia | www.ChartWizard.ae


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Crypto Market Recap: Bitcoin Breaks US$100,000, Coinbase Makes US$2.9 Billion Power Play

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Here’s a quick recap of the crypto landscape for Friday (May 9) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$103,116 as markets closed for the week, up 2 percent in 24 hours.

The day’s range has seen a low of US$102,526 and a high of US$103,636. After breaking through the US$100,000 threshold on Thursday (May 8), the digital asset has found support.

Bitcoin performance, May 9, 2025.

Chart via TradingView.

The crypto market’s surge is attributed to positive geopolitical developments, particularly surrounding a US-UK trade agreement and optimism over upcoming trade talks with China.

A better-than-expected jobs report also reignited institutional interest. Meanwhile, the MOVE index has cooled from its late March-early April spike, encouraging broader risk-taking across financial markets.

On the technical side, Bitcoin’s realized cap has hit an all-time high above US$893 million. Cointelegraph’s Marcel Pechman notes that strong options activity suggests that prices above US$105,000 could fuel further gains. Analyst Egrag Crypto is forecasting a rally to US$170,000, contingent on Bitcoin breaking past its previous all-time high of US$109,000.

However, with Bitcoin’s relative strength index approaching 70, overbought conditions are emerging, and investors are urged to be cautious of short-term volatility.

Ethereum’s (ETH) price surge has outperformed that of Bitcoin and can be attributed to an increase in transactions following Wednesday’s (May 7) Pectra upgrade. ETH’s price has increased by over 25 percent from last week and 42 percent month-on-month. It finished the week at US$2,325.35, a 10 percent increase over 24 hours.

The day’s range saw a low of US$2,288.24 and a high of US$2,372.09.

Altcoin price update

  • Solana (SOL) closed at US$171.67, up 7.1 percent over 24 hours. SOL experienced a low of US$168.64 and a high of US$172.75.
  • XRP was trading at US$2.35, reflecting a 3.6 percent increase over 24 hours. The cryptocurrency reached a daily low of US$2.33 and a high of US$2.40.
  • Sui (SUI) was priced at US$3.89, showing a decreaseof 0.6 percent over the past 24 hours. It achieved a daily low of US$3.87 and a high of US$4.03.
  • Cardano (ADA) was trading at US$0.7799, up 5.5 percent over the past 24 hours. Its lowest price of the day was US$0.7763, and it reached a high of US$0.7953.

Today’s crypto news to know

Coinbase to acquire Deribit in US$2.9 billion crypto derivatives deal

Coinbase has announced plans to acquire Deribit, a leading crypto derivatives exchange, for $2.9 billion — the largest deal in the crypto industry to date. This strategic move positions Coinbase to expand its offerings in the crypto options market, catering to the growing demand for advanced trading products.

The acquisition includes US$700 million in cash and 11 million shares of Coinbase Class A common stock.

Deribit, which processed US$1.2 trillion in trading volume last year, controls approximately 85 percent of the global crypto options market. This deal is expected to enhance Coinbase’s presence in the international derivatives market and diversify its revenue streams. Analysts view the acquisition as a significant step for Coinbase to compete with other major exchanges like Binance and Kraken in the derivatives space. The transaction is subject to regulatory approvals and is anticipated to close later this year. Until then, Deribit will continue its operations as usual.

Rumble’s crypto wallet launch and Q1 earnings

Rumble’s (NASDAQ:RUM) CEO confirmed the firm will launch a Bitcoin and stablecoin wallet to compete with the Coinbase Wallet in Q3. The Rumble Wallet will launch in partnership with Tether.

“Our goal is to become the most prominent non-custodial Bitcoin and stablecoin wallet, powering the creator economy,” according to a May 9 (Friday) X post by Chris Pavlovski.

On the earnings front, Rumble reported a net loss of US$2.7 million for Q1 on Thursday, a significant improvement over the US$43 million loss reported in Q1 2024. The company’s revenue of US$23.7 million exceeded analysts’ estimates; however, the firm reported a decrease in monthly active users to 59 million, down from 68 million in Q4 2024.

Rumble opened 2.44 percent higher on Friday (May 9) and closed the week with a gain of over 17 percent.

Meta’s potential stablecoin integration

Meta Platforms (NASDAQ:META) is reportedly in discussions with cryptocurrency enterprises regarding the potential implementation of stablecoins for select, smaller-scale creator disbursements.

Five informed sources told Fortune that the corporation has engaged in consultative deliberations with multiple cryptocurrency infrastructure providers, albeit without having yet settled upon a definitive strategic approach.

An insider suggests that the entity may adopt a multi-token framework, encompassing the integration of established stablecoins such as Tether’s USDt and Circle’s USD Coin, amongst other alternatives.

This news comes the day after Democratic lawmakers withdrew support for the GENIUS Act after concerns arose over the lucrative crypto dealings of companies tied to US President Donald Trump. The bill stalled on the floor of the Senate, prompting a public statement from US Treasury Secretary Scott Bessent:

“This bill represents a once-in-a-generation opportunity to expand dollar dominance and US influence in financial innovation. Without it, stablecoins will be subject to a patchwork of state regulations instead of a streamlined federal framework.’

Celsius founder sentenced to 12 years for crypto fraud

Alex Mashinsky, founder and former CEO of Celsius Network, has been sentenced to 12 years in federal prison for defrauding customers and manipulating the price of the company’s CEL token.

Between 2018 and 2022, Mashinsky misled investors about the safety of their funds, using customer deposits to inflate CEL’s value and personally profiting over US$48 million. Celsius, which once managed over US$25 billion in assets, collapsed in 2022 amid a broader crypto market downturn, leaving thousands of users unable to access their funds.

SEC considers crypto exemptions

The US Securities and Exchange Commission (SEC) is “considering a potential exemptive order” to let crypto firms bypass requirements to register as a broker-dealer, clearing agency exchange to issue, trade and settle securities. SEC Commissioner Hester Peirce made the announcement in a speech published on Thursday.

Companies would still be expected to comply with rules to prevent fraud and market manipulation and may also need to meet certain disclosure and recordkeeping requirements.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Tech 5: OpenAI Restructures, Apple Pursues AI Search, Constellation Shares Jump

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This week proved pivotal for the tech and energy sectors as market dynamics and the regulatory landscape shifted.

Apple (NASDAQ:AAPL) made waves by signaling a foray into artificial intelligence (AI) search and challenging app store regulations, while OpenAI underwent a major restructuring amid legal battles with Elon Musk.

Meanwhile, legislation targeting AI chip tracking gained momentum, and the nuclear energy sector saw increased activity with Ontario Power Generation’s new reactor project and potential White House actions.

Earnings reports from major players like Palantir (NASDAQ:PLTR), AMD (NASDAQ:AMD), Arm Holdings (NASDAQ:ARM) and Super Micro Computer (NASDAQ:SMCI) painted a complex picture of growth and challenges in a turbulent economic environment.

The interplay of innovation, regulation and market forces played out against a backdrop of trade developments between the US and the UK, with optimism regarding forthcoming negotiations with China boosting sentiment toward the end of the week.

Read on to dive deeper into this week’s top stories.

1. Apple’s App Store appeal, AI search plans and chip news

Apple is formally contesting last week’s judicial ruling mandating a reduction in its App Store commission.

The company filed an appeal against the order that would compel it to lower the existing 27 percent fee imposed on businesses offering links within their apps to external payment processing alternatives.

In related news, Apple executive Eddy Cue revealed during federal court testimony that the tech giant is investigating the development of its own AI-powered search engine for the Safari web browser. The news had an immediate impact on Alphabet’s (NASDAQ:GOOGL) shares, resulting in a 9 percent decline on Wednesday (May 7) afternoon.

In other news, Apple is reportedly making advances in its in-house silicon development.

The company is designing new proprietary chips intended to serve as the main central processing units for a range of future Apple products. These include anticipated devices such as smart glasses, more powerful iterations of its Mac computer line and specialized AI servers.

Combined with this week’s macroeconomic and geopolitical developments, Apple’s share price experienced turbulence, ultimately closing 2.25 percent below Monday’s (May 5) opening price on Friday (May 9).

2. OpenAI announces restructuring, acquisition and leadership changes

In a notable week for AI giant OpenAI, CEO Sam Altman shared a reorganization strategy on Monday, announcing that its operational arm will transition into a new public benefit corporation, with its non-profit arm acting as the primary shareholder. The decision follows talks with civic leaders and state attorneys general.

A person familiar with the matter told Business Insider that the new plan will let the company receive the full US$30 billion investment from SoftBank (TSE:9984). Meanwhile, sources told Bloomberg on Monday that Microsoft (NASDAQ:MSFT) and OpenAI are still in negotiations regarding a restructuring plan. A later report from the Information reveals that OpenAI plans to slash its 20 percent revenue-sharing agreement with Microsoft to 10 percent by 2030.

Regarding the ongoing legal dispute between Sam Altman and Tesla (NADAQ:TSLA) CEO Musk, who alleges that the company has strayed from its founding mission, Musk’s attorney, Marc Toberoff, told Reuters on Monday that the team intends to proceed with the lawsuit. Toberoff also called the restructuring a “cosmetic” move that turns charitable assets into private wealth, adding that “the founding mission remains betrayed.”

In other news, OpenAI made its largest acquisition to date this week, agreeing to buy AI-assisted coding tool Windsurf for about US$3 billion, and named ex-Instacart (NASDAQ:CART) CEO Fidji Simo as its new head of applications.

According to reports, Simo will manage operations and report directly to Sam Altman, who will retain his title as CEO. Altman will shift his focus to research, safety efforts and advancing artificial general intelligence.

3. AI chip regulatory developments

US Representative Bill Foster is preparing to introduce legislation aimed at tracking the location of AI chips, such as those produced by NVIDIA (NASDAQ:NVDA), after they are sold.

The proposed bill, first reported by Reuters on Monday, would task US regulators with developing rules to monitor these chips, ensuring they remain in authorized locations under export control licenses.

It would also seek to prevent unlicensed chips from being activated outside of authorized locations.

In other chip-related news, NVIDIA shares rose following news that the Trump administration plans to eliminate the so-called “AI diffusion rule.” However, a spokesperson from the US Department of Commerce clarified upcoming plans in a statement to CNBC’s Kif Leswing on Wednesday, commenting:

“The Biden AI rule is overly complex, overly bureaucratic, and would stymie American innovation. We will be replacing it with a much simpler rule that unleashes American innovation and ensures American AI dominance.”

The announcement highlights the Trump administration’s intention to keep some guardrails in place to protect US interests, despite pushback from tech industry executives.

At a Congressional hearing on Thursday (May 8), OpenAI CEO Sam Altman emphasized the importance of maintaining US leadership in AI development. He cautioned against overregulation, warning that poorly designed rules could hinder America’s competitive edge, particularly against China.

4. Palantir, AMD, Arm and Super Micro share results

Palantir’s Q1 revenue rose 39 percent year-on-year to US$884 million, driven by demand for its data analytics software in the US. The company expects demand to continue, forecasting Q2 revenue between US$934 million and US$938 million. Palantir’s share price fell by 8 percent after hours as investors anticipated even stronger results. The company posted a loss of 5.6 percent for the week after a volatile week for tech stocks, as overvaluation concerns persist.

Advanced Micro Devices’ Q1 earnings report shows quarterly revenue of US$7.4 billion, an annual increase of 36 percent, with adjusted earnings per share of US$0.96. Despite an initial 7 percent stock surge following a positive quarterly report, AMD shares fell following the company’s announcement of a projected US$1.5 billion revenue decrease this year, attributed to US government limitations on the sale of AI chips to China.

Palantir, Super Micro, AMD and Arm performance, May 6 to 9, 2025.

Chart via Google Finance.

For Q4 2024, Arm Holdings reported quarterly revenue of more than US$1 billion for the first time in its history, but forecast revenue and profit for Q1 2025 below Wall Street estimates, resulting in a 4 percent slump on Thursday morning

Super Micro Computer’s net sales increased from US$3,85 billion in Q3 2024 to US$4.6 billion, while the company’s earnings per share fell year-on-year from US$0.66 to US$0.17.

The company lowered its full-year revenue guidance from US$23.5 billion to US$25 billion, down to US$21.8 billion to US$22.6 billion, with trade war-induced uncertainty and increasing competition cited as obstacles to growth. The company’s share price opened over 5 percent lower the next day and fell by over 3 percent this week.

5. Constellation shares jump, White House plans reactor push

Shares of Constellation Energy (NASDAQ:CEG) rose nearly 10 percent in two days ahead of the Tuesday (May 6) release of its Q1 earnings report, which revealed revenue that exceeded expectations by over 20 percent.

Later, during an earnings call, CEO Joe Dominguez said the company was close to inking multiple long-term deals to provide nuclear power to meet surging energy demands, further bolstering investors’ optimistic outlook.

In another significant development within the nuclear energy sector, Ontario Power Generation said it has secured the necessary approvals to commence construction on the first of four small modular reactors (SMR) designed by GE Verona (NYSE:GEV), which will be located at the company’s Darlington site near Toronto.

The Darlington project is anticipated to be the first deployment of this particular SMR technology within a G7 nation.

Separately, Axios reported on Tuesday that sources familiar with the matter say the White House is in the final stages of preparing executive actions intended to accelerate the deployment of nuclear reactors. These plans, reportedly under consideration for several weeks, could be officially announced imminently.

On Friday, NPR said its reporters have seen a draft of such an order. According to the report, the order instructs the Nuclear Regulatory Commission (NRC) to send new reactor safety guidelines to the White House for review and possible amendments. The draft also calls for a reduction of NRC’s staff and a “wholesale revision of its regulation” in coordination with the administration and the Department of Government Efficiency.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Cargo thieves are attacking the U.S. supply chain at alarming rates

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America’s supply chain is under attack.

From coast to coast, organized criminal groups are hitting trucks on the road, breaking into warehouses and pilfering expensive items from train cars, according to industry experts and law enforcement officials CNBC interviewed during a six-month investigation.

It’s all part of a record surge in cargo theft in which criminal networks in the U.S. and abroad exploit technology intended to improve supply chain efficiency and use it to steal truckloads of valuable products. Armed with doctored invoices, the fraudsters impersonate the staff of legitimate companies in order to divert cargo into the hands of criminals.

The widespread scheme is “low risk and a very high reward,” according to Keith Lewis, vice president of Verisk CargoNet, which tracks theft trends in the industry.

“The return on investment is almost 100%,” he said. “And if there’s no risk of getting caught, why not do it better and do it faster?”

In 2024, Verisk CargoNet recorded 3,798 incidents of cargo theft, representing a 26% increase over 2023.

Total reported losses topped nearly $455 million, according to Verisk CargoNet, but industry experts told CNBC that number is likely lower than the true toll because many cases go unreported. Numerous experts who spoke to CNBC estimate losses are close to $1 billion or more a year.

Train cargo thefts alone shot up about 40% in 2024, with more than 65,000 reported incidents, according to the Association of American Railroads.

Industry experts and law enforcement officials say a more sophisticated and insidious form of cargo theft called strategic theft is also on the rise.

The way the system is supposed to work is this: A shipper pays a broker, and the broker, after taking its fee, pays the carrier, the trucking company that moves the load.

In strategic theft, criminals use deceptive tactics to trick shippers, brokers or carriers into handing cargo or legitimate payments, sometimes both, over to them instead of the legitimate companies.

This post appeared first on NBC NEWS

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European leaders arrive in Kyiv in show of support for Ukraine

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The leaders of Germany, France, the United Kingdom and Poland have arrived in Kyiv for meetings with Ukraine’s President Volodymyr Zelensky, a symbol of a united European position to publicly pressure Russian President Vladimir Putin.

Friedrich Merz, the new German Chancellor, French President Emmanuel Macron, Britain’s Prime Minister Keir Starmer and his Polish counterpart Donald Tusk arrived together Saturday morning at Kyiv’s main railway station, where they were met by Zelensky’s chief of staff Andriy Yermak.

The meetings are a sign of a renewed diplomatic urgency aimed at achieving a ceasefire in the war between Russia and Ukraine, which is grinding on despite US efforts to broker peace.

“There is much work to be done and many issues to discuss. This war must be ended with a just peace. Moscow must be forced to agree to a ceasefire,” Yermak wrote on his Telegram channel.

The first stop for the European leaders was Kyiv’s Independence Square where they stood to honor fallen Ukrainian soldiers.

Ukraine, supported by the Europeans, has been calling for an immediate unconditional 30-day ceasefire, something that US President Donald Trump is also demanding.

Russia has so far refused to commit, saying it supports the idea of a 30-day ceasefire in principle but insists there are what it calls “nuances” that need addressing first.

Kremlin spokesman Dmitry Peskov in an interview with ABC News on Saturday suggested that one of these “nuances” was putting a halt to the supply of US and European weapons to Ukraine.

Putin has often spoken about the need to address what he calls “root causes” – which are taken to mean, among others, the eastward expansion of NATO.

In a Truth Social post on Thursday, Trump wrote that “if the ceasefire is not respected, the US and its partners will impose further sanctions,” adding to a sense he is growing frustrated with Russian stalling.

The inauguration of Trump in January ushered in a complete change in the US’ diplomatic focus on the war, with Ukraine and key allies fearful of a significant tilt in US policy towards Moscow.

European leaders have convened a series of meetings in response, aimed both at showing the US that Europe can do more to support Ukraine militarily, as well as providing a single voice urging the US president not to take Russia’s side in the war.

“A just and lasting peace begins with a full and unconditional ceasefire. That is the proposal we are advancing with the United States,” French President Macron wrote on his X account Saturday morning.

“Ukraine accepted [the ceasefire proposal] on March 11. Russia, however, delays, sets preconditions, plays for time, and continues its war of invasion. If Moscow continues to obstruct, we will step up the pressure—together, as Europeans and in close coordination with the United States. We welcome President Trump’s call to move forward in this direction,” Macron added.

This post appeared first on cnn.com

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Toxic cloud forces 160,000 Spaniards to stay inside after fire

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Around 160,000 people in Spain’s northeastern Catalonia region were warned to stay inside on Saturday after a fire at an industrial estate caused a toxic cloud of chlorine over a wide area, emergency services said.

The blaze at a swimming pool cleaning products company started at 2.20 a.m. local time (8:20 p.m. Friday ET) in Vilanova i la Geltru, a town 48 kilometers (30 miles) south of Barcelona and caused a huge plume of chlorine smoke over the area.

“If you are in the zone that is affected do not leave your home or your place of work,” the Civil Protection service said on social media site X.

No one has been hurt in the fire, Catalan emergency services said on Saturday, but residents in five towns were sent a message on their mobile phones telling them to remain inside.

“It is very difficult for chlorine to catch fire but when it does so it is very hard to put it out,” the owner of the industrial property, Jorge Vinuales Alonso, told local radio station Rac1.

He said the cause of the fire might have been a lithium battery.

Trains which were due to pass through the area were held up, roads were blocked and other events were canceled.

The fire was under control, Civil Protection spokesperson Joan Ramon Cabello told the TVE television channel.

This post appeared first on cnn.com

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Where the Market Goes Next: Key Resistance Levels + Top Bullish Stocks to Watch Now

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Want to know where the stock market is headed next? In this week’s market update, Mary Ellen McGonagle analyzes key resistance levels and reveals what’s fueling the current uptrend. She highlights top bullish setups among U.S. leadership stocks, plus global names showing strength.

This video originally premiered May 9, 2025. You can watch it on our dedicated page for Mary Ellen’s videos.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.


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