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Japan's SoftBank racks up huge profit gains with lift from lucrative AI investments

TOKYO (AP) — Japanese technology investor Softbank Group Corp. reported Wednesday that profits for the fiscal year through March zoomed by nearly five-fold from the previous year as its AI investments paid off.

The Tokyo-based company recorded an annual profit of 5 trillion yen ($32 billion), far greater than the 1.15 trillion yen profit racked up the previous year.

Sales climbed nearly 8% on-year to nearly 7.8 trillion yen ($50 billion) from 7.2 trillion yen, the company said in a statement.

Among its most lucrative investments was OpenAI, in which... Read More

US grocery prices rose in April, but gas spikes weren't the only reason

Americans paid more for their groceries last month, but high gasoline prices resulting from the Iran war were only one of the reasons why.

Prices for food eaten at home rose 2.9% in April compared to the same month a year earlier, according to government figures released Tuesday. That was the highest year-over-year inflation rate for the category since August 2023.

Prices at restaurants, fast-food chains and other places to get prepared meals also increased, putting overall food prices up 3.2% in the last year, the Labor Department’s consumer price index showed. Read More

Trump set to meet with Xi in Beijing as war and inflation weigh on his presidency

BEIJING (AP) — President Donald Trump is set to arrive in Beijing on Wednesday for his highly anticipated summit with Chinese leader Xi Jinping at a restless moment for a world worried about war, trade and artificial intelligence.

“We're the two superpowers,” Trump told reporters as he departed the White House on Tuesday. “We're the strongest nation on Earth in terms of military. China’s considered second.”

While Trump likes to project a sense of strength, the visit occurs at a delicate moment for his presidency as his popularity at home has been weighed and... Read More

Asian shares trade mixed as AI excitement fades and war worries continue

TOKYO (AP) — Asian shares traded mixed Wednesday, as fading enthusiasm over AI and other technology stocks gradually put the brakes on Wall Street’s record-setting run.

Japan's benchmark Nikkei 225 edged up 0.8% in afternoon trading to 63,244.43.

South Korea's Kospi index surged 2.7% to 7,849.21, recouping recent losses. The Kospi sank 2.3% earlier in the week from an all-time high after a senior figure in the administration suggested the government may redistribute windfall AI profits from companies to citizens. Analysts said some investors were snatching the... Read More

Cruise ship passenger making best of quarantine in US after hantavirus outbreak

When Jake Rosmarin boarded the MV Hondius, he gleefully posted on social media that the ship would be his home for 35 days as he traveled across the South Atlantic.

Now, he is one of 18 Americans under observation at specialized healthcare facilities designed to treat people with dangerous infectious diseases after three people died and others were sickened by a hantavirus outbreak aboard the ship.

Rosmarin, 30, said he expects to spend 42 days at the National Quarantine Unit at the University of Nebraska Medical Center in Omaha.

Fourteen other American... Read More

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Japan's SoftBank racks up huge profit gains with lift from lucrative AI investments

US grocery prices rose in April, but gas spikes weren't the only reason

Trump set to meet with Xi in Beijing as war and inflation weigh on his presidency

Asian shares trade mixed as AI excitement fades and war worries continue

Cruise ship passenger making best of quarantine in US after hantavirus outbreak

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