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The Latest Breaking News from EY

'At some point you've got to make money': Goldman's top AI skeptic warns the clock is running out ahead of OpenAI and Anthropic IPOs

Jim Covello has been Wall Street's most consistent voice of AI doubt. Two years on, he asks:"when does the short term become the long term?"

Fortune

Officials bank on economic slump helping tame inflation

Australia is not experiencing stagflation but higher interest rates will help cool the economy and inflation, the nation's top bank official says.

AAP

Which European countries attract the most foreign investment?

Foreign investment is widely seen as a key driver of economic growth, innovation and job creation. But which countries are winning the race for international investors, and how is Europe's position changing in an increasingly competitive global market?

Euronews

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'Choose France' summit puts AI at heart of Macron’s €93 billion investment drive

Foreign companies have pledged a total of €93 billion in investment at France's annual Choose France summit, President Emmanuel Macron announced on Monday, with artificial intelligence and data infrastructure projects accounting for the bulk of commitments.

Radio France Internationale

President Emmanuel Macron announces €93 billion in 'Choose France' investments

Since the first "Choose France" in 2018, a year after Macron came to power, more than 230 projects have been announced, representing several thousand jobs, according to the Élysée Palace.

Euronews

Macron announces €93 billion in foreign investment at 'Choose France' summit

French President Emmanuel Macron said foreign companies have pledged a total of €93 billion worth ⁠of investments at the annual "Choose France" summit on Monday, particularly for AI and data projects. The conference could see announcements on rare earth investments in France.

France 24

AI may impact "lucrative job market linked to IT services": EY report

Artificial Intelligence will significantly reshape India's skilled workforce and its IT sector. EY's report highlights potential job market shifts. While India's economic growth remains strong, adapting to AI's evolution is crucial. Policymakers must address technological changes alongside other global challenges to maintain India's growth trajectory and economic future.

The Economic Times

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A little-known semiconductor company just won an entrepreneur contest that previously honored Jensen Huang and Michael Dell

Also: All the news and watercooler chat from Fortune.

Fortune

IMEC, Indo-Pacific routes key to reducing Hormuz dependence: EY

India is urged to diversify its trade routes and develop new corridors like IMEC and the Indo-Pacific route. This aims to lessen dependence on the Strait of Hormuz amid West Asia tensions. The nation must prepare for economic shocks by building strategic reserves and shifting towards green energy.

The Economic Times

Why some CEOs still choose Europe over the U.S.

Also: All the news and watercooler chat from Fortune.

Fortune

Venture investments halve in Apr to $2.7 bn as rupee depreciation weighs on sentiment

Venture capital and private equity investments in April saw a sharp decline. Funds invested $2.7 billion across 38 deals. This marks a significant drop compared to previous periods. Rupee depreciation and geopolitical tensions impacted investor sentiment. Real estate, financial services, and technology sectors received the most funding. Fundraising also reached…

The Economic Times

France tops European foreign investment ranking despite wider slowdown

France has been named Europe’s leading destination for foreign investment for the seventh consecutive year – but its position conceals underlying vulnerabilities, according to a new survey of the continent's attractiveness to investors.

Radio France Internationale

Banks must compete on customer experience to stay relevant: EY report

Banks must prioritize customer experience to stay relevant, evolving branches into 'phygital' advisory hubs, according to an EY India report. The future of banking hinges on a blend of human interaction and AI, focusing on anticipating needs and providing timely support. While personalization is growing, trust in chatbots lags, highlighting…

The Economic Times

$Kalpataru, Shangrila Infracon plan debt fundraise via private credit funds: Report$

Kalpataru, Shangrila Infracon plan debt fundraise via private credit funds: Report

They are likely to receive interest from private credit funds, which have been on the lookout for decent-sized deals, one of the sources said.

The Economic Times

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The Guardian - US

From phishing to porn star impersonators: how scamming athletes became a billion-dollar industry

Athletes have always been targets for criminals hoping to profit from their wealth. But a new wave of dangers has cropped up in recent years

Evening Standard

Households to slam brakes on spending as Iran war sends cost surging, warns EY

EY’s economic outlook shows UK consumer spending growth will grind almost to a halt, at a predicted 0.3% for 2026, as inflation set to rise to 4%.

The Independent UK

Boost for electric car market as petrol costs soar due to Iran war

The fuel savings for switching to an electric vehicle hit a new high – £960 a year

MarketBeat

Super Micro Surges Over 20% as Margins Soar, Sales Fall Short

Super Micro Computer is surging once again. See the key dynamics that characterized its latest earnings and how multiple Wall Street analysts reacted.

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TechRadar

'Trust is not keeping pace with technological capability': New study finds people are becoming more accepting of AI - but don't want to hand over full control just yet

AI can get a lot done, but companies are actually struggling to trust it and legacy identity management software doesn't quite cut it.

Fortune

Supermicro's co-founder allegedly smuggled $2.5 billion in Nvidia-chipped servers to China—now the whole company is under the microscope

The company will report financial results on Tuesday after disclosing it has launched an internal probe that could reshape its management and future with the Department of Justice.

Evening Standard

Economic growth forecast for island of Ireland despite fuel supply turbulence

EY has said events in the Middle East had ‘adversely affected’ Ireland’s inflationary outlook.

The Guardian - AU

Feeling gloomy about the economy? The ‘vibecession’ has arrived in Australia – but experts are less worried

A poll shows most Australians think the country is either in a recession or will be soon. Economists have a different view

Fortune

The Trump administration has yet to deploy a key legal move that would render tariff refund applications a 'waste of time,' federal litigator warns

The White House has not appealed the Court of International Trade’s universal refund order, and it has tariff experts scratching their heads.

The Guardian - UK

Racing open to more direct protests in campaign against affordability checks

The chief executive of the British Horseracing Authority, has revealed the sport will consider more direct action protests as they continue to battle against government plans to introduce affordability tests for punters

Fortune

AI angst mutates into 'FOBO' as Fear of Becoming Obsolete fuels quiet resistance across the economy

EY’s Joe Depa says he sees a split in staff. There’s “high adoption, right out of the gate” for juniors, but senior workers “are somewhat resistant.”

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