Panama Canal Fees Hit Record As El Nino, Hormuz Crisis Choke Global Shipping

The One Market Where Meta's New AI Glasses Can't Be Sold Meta Platforms' new AI Ray-Ban smart glasses with a built-in display are facing three major roadblocks in the European Union, where battery rules, AI regulations, and supply constraints have derailed plans to roll out the glasses across the continent. Bloomberg spoke with people familiar with the new AI glasses, an upgrade over the previous model, which lacked built-in optics, and warned that Meta is attempting to launch the glasses in the EU, but its manufacturing partner, EssilorLuxottica SA, will...

Oil Dumps As Iran, Oman Push To Reopen Hormuz; Satellite Image Shows Gulf Producers Ramping Up Brent crude futures dropped for a third session as Iran and Oman advanced plans for a temporary maritime corridor through the Strait of Hormuz. Brent tumbled to $85 a barrel early Wednesday, down more than 9% for the week, while West Texas Intermediate traded around $80. Crude remains up more than 41% this year following the US-Iran conflict and ongoing disruptions at the Hormuz chokepoint. Earlier, Oman's state news agency reported that Iranian Foreign Minister Abbas...

One of the legacies of Keynesian thought is the belief that war is “good for the economy.” While war may help enable employment, nonetheless, its overall legacy is destructive, and even the jobs war “creates” are economically undesirable.