And Google searches for a sustainable AI future.
Mōrena and here’s your mid-week summary of the key international business and political stories making headlines.
First, international retail giants are assessing whether to spread the cost of US President Donald Trump’s tariffs across other markets to limit price hikes directly in the United States.
Reuters reported sandal maker Birkenstock and luxury jewellery company Pandora were both pondering options to avoid consumers being unfairly punished and to stop inflation increasing.
Birkenstock said a "low-single-digit" price increases around the world would be enough to offset the tariffs. Pandora chief executive Alexander Lacik also acknowledged the US was its biggest market.
Elsewhere, Al Jazeera reported that Israeli bombs killed more than 70 people in Gaza, including an attack on a displacement shelter that killed 22, including children.
Canada, France, and the UK threatened to take “concrete action” against Israel if it did not end the renewed offensive, while 22 countries asked Israel to let aid into the area.
Elon Musk.
Billionaire businessman Elon Musk has said he will dial back his political donations, and remains optimistic about the future of Tesla, the BBC reported.
Musk spent more than US$250 million in support of Trump's presidential campaign. He told an economic conference in Qatar he planned to do "a lot less" spending in the future.
He was also committed to leading Tesla for another five years.
“If I see a reason to do political spending in the future, I will do it. I do not currently see a reason.”
Meanwhile, Qatari Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani denied accusations that an offer of a Boeing 747 jet for Trump was an attempt to win favour with the White House, CNBC reported.
“I call it an exchange between two countries. And basically, the relationship that we have between Qatar and the United States is a very institutional relationship.”
Trump visited the Middle East last week, and opposition politicians were critical of the proposed gift.
Trump said the plane could “temporarily” replace the 40-year-old Air Force One aircraft that serves the president.
US President Donald Trump.
Elsewhere, India planned to spend US$10 billion to purchase 112 crude oil carriers as the world’s third-biggest importer of oil looked to secure supplies, sources told Bloomberg.
State-owned oil companies currently operate an ageing fleet, mostly on charter from global companies. The first phase included purchasing 79 ships, 30 of which would be medium-range vessels.
Bloomberg noted that India’s crude oil refining capacity was expected to expand because of growing domestic and overseas demand for oil.
India aimed to raise the share of locally built oil tankers in its fleet to 7% by 2030, with an increase to 69% by 2047.
Finally, global internet search giant Google presented its future vision and introduced updates to compete against artificial intelligence rivals, CNN reported.
It said a system of “digital agents” would trawl the web and answer questions based on a person’s real-world surroundings, tastes and preferences.
Chatbots, such as ChatGPT and other AI-led search engines, were an alternative way to find information and were eating into Google’s core fundamentals.
Alphabet chief executive Sundar Pichai said searching had changed, and the company needed to adapt. “What all this progress tells me is that we are now entering a new phase of the AI platform shift, where decades of research are now becoming reality for people, businesses, and communities all over the world.”
