Cyberattack to cost UK retailer Marks & Spencer $404 million

• Marks last week revealed that some personal data of its customers had been stolen in a cyberattack that has crippled its online services for weeks.
• The news came as Marks on Wednesday reported operating profit before adjusting items of  £985 million for its financial year to the end of March.

Oil prices jump on report of Israel prepping Iran strike

• There are fears that such a sharp escalation could tip the Middle East into a war, with tensions already high over Israel's strikes on Gaza.
• While safe haven gold pushed higher, the news from CNN appeared to be having little detrimental effect on Asian equities, with most extending the previous day's rally.

Etihad Q1 profit $187 million

• Total revenue saw a 15 percent rise compared to Q1 2024, supported by both passenger and cargo business.
• With nearly 20 million passengers carried over the last 12 months, Etihad is the fastest-growing airline in the region.

Yalla Group Q1 revenue $83m

US asking countries for ‘voluntary’ Palestinian relocation: Rubio

• President Donald Trump has repeatedly mused about displacing Gaza's two million people to make way for reconstruction.
• Responding to a question in testimony to the Senate Foreign Relations Committee, Rubio said: "There's no deportation."

The New Travel Mindset: Local Living and Smarter Tech

• Japan, Korea, Singapore, Malaysia, and Thailand are growing heavily from this region as connectivity improves.
• Europe remains strong, but even in Europe, they're exploring more. Before, it was much more London only.

UK halts trade talks with Israel, summons envoy over Gaza

• Lammy said Britain "cannot stand by in the face of this new deterioration" in Gaza and was pausing negotiations with Israel on a new free-trade agreement.
• Israel was the country's 44th-largest trading partner last year, with the two countries exchanging 5.8 billion pounds ($7.8 billion) in goods and services.

Nvidia unveils plan for Taiwan’s first ‘AI supercomputer’

• Taiwan produces the bulk of the world's most advanced chips, including those needed for the most powerful AI applications and research.
• TSMC, the Taiwanese contract chipmaking giant, has unveiled plans to inject an additional US$100 billion into the United States, on top of the US$65 billion already pledged.

Qatar Airways annual profit $2bn

• Qatar Airways Cargo, the group's air freight service, saw revenues increase by 17 percent on the year before, the airline said.
• In 2024, the Qatari airline reported a $1.7 billion net profit following an annual increase of 39 percent, another record.

Israel will ‘take control of all’ of Gaza, says Netanyahu as WHO warns of famine risk

• In southern Gaza, the Israeli military issued an evacuation call to Palestinians in and around Khan Yunis city ahead of what it described as an "unprecedented attack".
• Two million people are "starving" in the Gaza Strip, with the deliberate blocking of aid driving up the risk of famine, the World Health Organization chief warned.