Breaking AI & Tech News Analyzed

The US stock market closed on Friday with a significant selloff, sending the Dow into correction territory and marking the fifth consecutive week of declines. The Dow fell 800 points, while the Nasdaq index dropped another 2% and the S&P; 500 closed 1.6% lower.Oil prices continued to rise, with Brent crude surging past $110 a barrel. Despite Donald Trump's announcement of extending a pause on Iranian energy strikes, markets remained on edge. Trump has suggested that oil prices and the stock market will stabilize once the conflict ends, but it's unclear if markets will believe him.Consumer sentiment in the US has also declined, with a 6% drop in March, according to a University of Michigan survey. This decline was observed across all age groups, political parties, and income levels. Inflation expectations rose from 3.4% to 3.8%, the largest one-month increase since last April.The Organization for Economic Cooperation and Development (OECD) revised its global GDP growth projections downward, citing the Iran conflict as a significant source of uncertainty. The report warned of higher global inflation due to the spike in energy prices and noted that the Middle East conflict would disproportionately affect the UK's economy.

Mark Dorsey, a 35-year-old resident of East Oakland, works two jobs to make ends meet, often relying on minimum wage or close to it. The current minimum wage in Oakland is $17.34 an hour, higher than California's $16.90 an hour, but still insufficient for Dorsey.Dorsey is part of a campaign to almost double California's minimum wage to $30 an hour by 2030. A similar initiative has been tabled in New York City, backed by Mayor Zohran Mamdani.The initiatives face opposition from business interests, but have widespread public support. The federal minimum wage has remained at $7.25 an hour since 2009.The Oakland and Alameda Living Wage for All campaign has filed two ballot initiatives for the November 2026 ballot to increase the minimum wage in Oakland and Alameda county to $30 an hour by 2030 for large employers.Zach Norris, co-executive director of the Black Organizing Project, emphasizes that the ballot initiatives are also racial justice issues, as Oakland has seen a 46% decline of Black residents since 2000.In New York City, Councilor Sandy Nurse has introduced a bill to increase the minimum wage to $30 an hour by 2030 for large employers, with small businesses given more time to adapt.The Economic Policy Institute projects that 1.68 million New York City residents, 36.7% of the city's wage-earning workforce, will earn less than $30 an hour by 2030.Business groups have voiced opposition, but a 2023 study found that minimum wage increases do not result in job losses or small business closures.

Renowned Formula One journalist Giles Richards was ejected from a Max Verstappen press conference at the Japanese Grand Prix, a rare occurrence in the sport. The incident stemmed from a question Richards asked Verstappen at the end of last season regarding an incident involving Verstappen and George Russell at the Spanish Grand Prix.Verstappen had collided with Russell's car during the Spanish Grand Prix, resulting in a 10-second penalty that dropped him from fifth to 10th place and cost him nine points. When Richards asked Verstappen about the incident during the season finale in Abu Dhabi, Verstappen took umbrage, suggesting Richards was biased and only focused on negative aspects of his performance.Richards recounts that when he encountered Verstappen at the Japanese Grand Prix, the Dutch driver refused to speak until Richards left the press conference. Despite attempts to clarify the situation, Verstappen remained resolute, telling Richards to 'get out'.The incident has sparked a heated debate about driver-journalist interactions in Formula One, with many colleagues expressing shock and concern for Richards' wellbeing. While Richards admits to feeling uncomfortable about being the story, he emphasizes the importance of asking difficult questions in his line of work.Richards has covered Formula One for over a decade and has interviewed Verstappen on multiple occasions, describing their interactions as generally friendly and good-humored. He hopes that he and Verstappen can have a better relationship in the future.

The UK inflation rate held steady at 3% in February, according to official figures released by the Office for National Statistics (ONS). This stability comes before the recent surge in global energy costs triggered by the conflict in the Middle East.The consumer prices index (CPI) remained at the same level as the previous month, in line with economists' expectations. However, it still stands well above the government's 2% target. The annual rate of food inflation saw a slight decrease, driven by drops in prices of olive oil, flour, and pizza. Despite this, the Food and Drink Federation warned that this could be 'the calm before the storm'.The outlook for inflation has significantly shifted since the onset of the Middle East conflict. The effective closure of the Strait of Hormuz, an important shipping route, has sent oil and gas prices soaring. As recently as last month, the Bank of England was forecasting CPI inflation to fall to the 2% target in the second quarter of the year. However, with the current situation, markets now expect the next move in interest rates to be up.Grant Fitzner, the ONS chief economist, noted that the largest upwards driver was the price of clothing, which rose this month but fell a year ago. This was offset by falls in petrol costs, with prices collected before the start of the conflict in the Middle East and subsequent rise in crude oil prices.The ONS also reported that core inflation, which excludes volatile factors including food and fuel, was higher in February than a month earlier, at 3.2%, up from 3.1% in January. Chancellor Rachel Reeves emphasized the government's plan to protect people from unfair price rises and support those facing higher heating oil costs.

The recent sanctions imposed by the Trump administration against a UN human rights expert have raised alarm bells about the state of free speech and the ability to criticize government policies without fear of retribution. The expert, Francesca Albanese, was appointed by the United Nations to monitor human rights in occupied Palestine. Her offense was recommending that the International Criminal Court (ICC) issue arrest warrants for Israeli Prime Minister Benjamin Netanyahu and Defense Minister Yoav Gallant for war crimes committed in Gaza. The sanctions, which amount to a "civil death," have effectively silenced Albanese, preventing her from opening a bank account, selling her Washington DC house, or drawing a salary from American universities that employed her. This has had a ripple effect, causing fear among faculty and students on campuses who are now hesitant to criticize Israel's human rights record. The executive order signed by Trump threatens to criminally prosecute anyone who provides Albanese or other designated figures with "funds, goods, or services." This vague language has led to a Maine university canceling an academic conference where Albanese was to make an unpaid appearance via Zoom. The authors of the article, a group of North American university professors and human rights lawyers, argue that this has created a chilling effect on free speech, deterring people from expressing their views for fear of facing sanctions or arrest. They have filed a "friend-of-the-court" brief in support of a lawsuit filed by Albanese's husband and daughter against Trump's unconstitutional sanctions. The targeting of Albanese has significant implications beyond those focused on Israel's human rights record. It should concern anyone who believes in free speech and the ability to challenge those in power without fear of retribution. When a government claims the authority to police ideas, everyone's liberty is on the line.

Galatasaray's star striker, Victor Osimhen, made a valiant effort to play through a broken arm during the team's 4-0 loss to Liverpool in the UEFA Champions League. This courageous attempt was aimed at preventing his side from being eliminated 4-1 on aggregate.The Nigerian international took a knock on his right arm during the first half at Anfield and, despite the injury, remained on the pitch until halftime. However, he could not resume play after the interval due to a suspected fracture.Following the match, a hospital examination confirmed a fracture of the right forearm, and a cast was applied. A decision regarding a possible surgical procedure will be made in the coming days after further tests.The loss to Liverpool has set up a quarterfinal matchup against Paris Saint-Germain, the trophy holder. Osimhen's availability for the remainder of the season is now in doubt, which could impact both Galatasaray's and Nigeria's prospects.Osimhen, known as one of the brightest talents in the game, had previously missed out on a place at this summer's FIFA World Cup 2026 after Nigeria was eliminated in a playoff by DR Congo.

The conflict between Iran and Israel has taken a significant turn, with oil prices skyrocketing to unprecedented levels. Analysts are now warning that prices could reach $150 or even $200 per barrel, a scenario that was previously considered far-fetched.The global benchmark, Brent crude, has hit nearly $120 per barrel and has remained above $100 since March 13. The recent Israeli strike on Iran's South Pars gasfield and subsequent Iranian attacks on oil and gas facilities in Qatar, Saudi Arabia, and the United Arab Emirates have further pushed crude prices up to over $108 per barrel.The Strait of Hormuz, which accounts for about one-fifth of global oil supplies, has been effectively closed since Iran declared it shut early in the conflict. Only a handful of ships, mostly Indian, Pakistani, Turkish, and Chinese-flagged vessels, have been allowed to pass through in recent days.Market watchers agree that prices have room to move much higher if the Strait of Hormuz remains closed. Vandana Hari, founder of Vanda Insights, notes that benchmark Middle Eastern crudes have already crossed the $150 threshold, making $200 a possibility.The International Monetary Fund estimates that every 10% rise in oil prices would correspond with a 0.4% increase in global inflation and a 0.15% reduction in economic growth. Oil prices at $150 or higher would weigh heavily on the global economy.Adi Imsirovic, an energy expert at the University of Oxford, warns that oil at $200 per barrel would be a major handbrake to the world economy, impacting inflation, growth, employment, and potentially causing shortages of fuel and materials.

The ongoing conflict in Iran, now in its 18th day, has sparked concerns about the global economy's stability. Typically, during such periods of uncertainty, investors flock to safe-haven assets like gold, causing its price to rise. However, gold prices have remained broadly steady at around $5,000 an ounce.On Tuesday, spot gold was almost flat at $5,001.36 per ounce at 11:00 GMT, and US gold futures for April delivery rose just 0.1 percent to $5,005.20. This lack of movement is surprising, given that gold prices typically shoot up during economic crises as investors look for safe havens to shelter their cash.Experts suggest several reasons for this unexpected stability. Traders may be anticipating that the US Federal Reserve will halt interest rate cuts and perhaps even raise rates in response to rising inflation, making dollar assets more attractive and gold, which pays no interest, less so. Additionally, gold had already risen significantly at the start of the year, which may be contributing to its current stability.Another factor is the strengthened dollar, which provides an alternative safe-haven choice. Higher oil prices, which have soared above $100 per barrel due to the conflict, may also lead to higher inflation, making the dollar more attractive.Experts also note that gold has become a very speculative asset, and typical gold investors, including central banks, tend to be more risk-averse and may have been spooked by the volatility of gold in the current climate.For the price of gold to shift dramatically, two things would need to happen: a clear indication from the Federal Reserve that interest rates may be cut further, despite inflationary pressure, and a change in perception as to the length of the war.

In the final moments of January 29, 2024, five-year-old Hind Rajab’s desperate pleas for help were cut short as she remained trapped in a car surrounded by the bodies of six relatives. Despite obtaining clearance from the Israeli military, a Red Crescent ambulance dispatched to rescue the child was struck by tank fire, killing two paramedics and leaving the vehicle abandoned for over a week.Two years after the tragedy, the global campaign group Avaaz has released a report alleging that this incident was a deliberate 'double-tap' strike. This tactic, often used in warfare, involves a first attack followed by a second strike targeting civilians or emergency responders attempting to assist victims of the initial assault.The Avaaz analysis, shared exclusively with Al Jazeera, documents over 40 alleged human rights violations and argues that the attack contravenes international combat law, specifically the Geneva Conventions and the Rome Statute. The report suggests that the Israeli military possessed full situational awareness of the rescue mission but deliberately targeted the ambulance.Forensic evidence contradicts the Israeli military's initial claims that the family car was destroyed during an exchange of fire. Analysis by Forensic Architecture at Goldsmiths, University of London, found no evidence of combatants in the vicinity, only the presence of Israeli Merkava tanks. The report highlights that the ambulance was fired upon with 120mm tank rounds without warning, a finding supported by the Hind Rajab Foundation, which has identified 24 potential perpetrators.'I am absolutely convinced that this is another case of double tap,' said Sarah Andrew, legal director of Avaaz. 'The kind of weaponry used on the ambulance, the timing, and the fact that no warning was given – it immediately triggered a question in my mind.'The Avaaz brief urges the International Criminal Court (ICC) to investigate the matter. The group notes that more than 1,500 healthcare workers have been killed during the ongoing conflict in Gaza, raising serious concerns about the safety of medical personnel in the region.