Global luxury and mass-market brands have closed stores and scaled back operations across the Middle East as escalating conflict between the U.S., Israel, and Iran disrupts business, travel and consumer activity in the region. Luxury groups including Kering have temporarily shut stores in the UAE, Kuwait, Bahrain and Qatar, while Chalhoub Group closed outlets in…

The world’s largest maritime insurance mutuals will withdraw war-risk insurance for ships entering the Persian Gulf from March 5, escalating pressure on global shipping as conflict in the region intensifies. Seven members of the International Group of Protection and Indemnity (P&I) Clubs – which insure about 90% of global ocean-going tonnage – will automatically terminate…

eBay is laying off about 800 employees, or 6% of its workforce, as the e-commerce group restructures to align with its “strategic priorities.” The cuts, which affect roles across the company, follow a review of operating needs, duplication and future focus areas. eBay had around 12,300 employees at the end of 2025. The move comes…

Large corporations are increasingly avoiding the term “pilot” when discussing artificial intelligence (AI) initiatives, as the word has come to signal stalled progress rather than innovation. While companies continue to promote their AI ambitions, references to “pilots” on earnings calls fell about 18% in the fourth quarter of 2025 compared with the prior quarter, according…

Amazon plans to invest $12bn to build new data centers in northwest Louisiana, as part of its broader push to expand infrastructure supporting artificial intelligence (AI) and cloud computing demand. The project is expected to create 540 full-time jobs, alongside additional roles supporting construction and operations, including electricians and HVAC technicians. Amazon said it will…

Trade attorneys say the volume of cases seeking refunds for tariffs already imposed – more than 1,800 already – will likely surge after Supreme Court justices rejected the legal rationale behind an estimated $175bn in U.S. customs revenue since last April. The court ruled on Friday that President Donald Trump lacked authority to impose tariffs…