Europe Gas Set for Biggest Weekly Drop in Two Years as Risks Ebb
European natural gas prices are headed for their biggest weekly retreat in almost two years after supply fears linked to tensions in the Middle East eased.
Benchmark futures fell as much as 3.1% on Friday, marking the sixth consecutive daily decline. That's set them on course to wipe out around a fifth of their value this week, the biggest weekly loss since July 2023.
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24 minutes ago
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Apple, Google Told DeepSeek App Is Illegal in Germany
(Bloomberg) -- Apple Inc. and Google's Android have been warned by a top German privacy regulator that the Chinese AI service DeepSeek, available on their app stores, constitutes illegal content because it exposes users' data to Chinese authorities. Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares US Renters Face Storm of Rising Costs Squeezed by Crowds, the Roads of Central Park Are Being Reimagined Mapping the Architectural History of New York's Chinatown US State Budget Wounds Intensify From Trump, DOGE Policy Shifts The formal notification comes after DeepSeek ignored a May request to either pull its app from app stores in Germany or put in place safeguards when collecting local users' data and transmitting it to China, Berlin data protection commissioner Meike Kamp said in a statement on Friday. 'Chinese authorities have far-reaching rights to access personal data,' Kamp said. 'DeepSeek users don't have enforceable rights and effective legal remedies available to them in China, like they're guaranteed in the European Union.' Hangzhou-based DeepSeek shocked the global tech industry in January with its R1 large language model, which the Chinese startup claimed could rival much larger US systems at a fraction of the cost. After the Chinese app ignored requests to comply, the Berlin agency invoked a provision of the EU's Digital Services Act, which puts the onus on tech platforms like Apple and Google to take down illegal content on their platforms. They both must now swiftly review the notice and decide on how to comply, according to Kamp. While the regulator could have also fined DeepSeek, Kamp decided against it, because she wouldn't be able to enforce the penalty in China. Apple declined to comment. DeepSeek and Google didn't immediately reply to emails seeking comments. The German move follows a similar step by Italy's privacy regulator in January. In the US, authorities have concluded that DeepSeek gave support to the Chinese military and intelligence efforts and is expected to keep doing so, according to an American official. Lawmakers in Washington are preparing bipartisan legislation that would ban federal government agencies from using DeepSeek and other AI tools from foreign adversaries. --With assistance from Gian Volpicelli. (Updates with US government views on DeepSeek in final two paragraphs.) America's Top Consumer-Sentiment Economist Is Worried How to Steal a House Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Apple Test-Drives Big-Screen Movie Strategy With F1 Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
27 minutes ago
- Bloomberg
The UK's Governance Is Looking Vulnerable Again
Welcome to the award-winning Money Distilled newsletter. I'm John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money. Just a quick favour, if you've got time this lunchtime — it's the last time I'll ask, I promise — please help us out by filling in this questionnaire. Gloriously happy or deeply frustrated, we'd love to know how you feel your personal financial situation has changed in the last year.
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Walmart Opens First Owned and Operated Case-Ready Beef Facility in Olathe, Kansas
The plant opening marks a major step in Walmart's mission to deliver high-quality Angus beef and create an end-to-end supply chain. Key insight: The opening marks Walmart's first-ever owned and operated, case-ready beef facility, bringing quality beef to customers in the Midwest while creating more resiliency in Walmart's supply chain. Key insight: The new facility is creating over 600 jobs that will directly impact Olathe, Kansas, and the surrounding communities. OLATHE, Kan., June 27, 2025--(BUSINESS WIRE)--Today, Walmart announced the grand opening of its first-ever owned and operated case-ready beef facility in Olathe, Kansas. This milestone reinforces Walmart's commitment to building a more resilient, transparent and efficient supply chain for Angus beef — helping Walmart provide quality beef options that meet demand and bring tremendous value to customers across the Midwest. "The opening of our new facility in Olathe, Kansas, is centered on delivering more of what our customers want — affordable food and quality they can trust," said John Laney, executive vice president, Food, Walmart U.S. "This is the first case-ready facility fully owned and operated by Walmart, and that milestone ensures we're able to bring more consistency, more transparency and more value to our customers." In 2022, Walmart made an equity investment in Sustainable Beef LLC in North Platte, Nebraska, as part of its continued efforts in creating an end-to-end supply chain for Angus beef. Sustainable Beef's majority ownership is local and producer-centric, with cattle sourced from no more than a 250-mile radius to the plant in a region that has exceptionally high-quality cattle. Now, the newly opened, 300,000+ square-foot, state-of-the-art facility will package and distribute Angus cuts sourced directly from Sustainable Beef LLC to stores across the Midwest, bringing even greater transparency to customers seeking quality beef options at Walmart stores in the region. "Kansas has long been at the forefront of the agriculture industry, and Walmart's investment in Olathe is further driving our success," said Kansas Governor Laura Kelly. "Through food production and supply chain innovations, we are proud to partner with Walmart to transform how we feed communities across our state and the region." The new facility will fulfill demand for quality beef in the region and is creating over 600 Walmart jobs for Olathe and the surrounding community, delivering a positive and long-lasting impact to the region. The facility will process fresh beef into case-ready cuts, packaged and ready for retail, which are then shipped directly to Walmart distribution centers to serve stores in the Midwest. The facility is also expected to generate increased business for suppliers and service providers, further amplifying the facility's effect on the community. "Walmart's decision to open its new case-ready facility in Olathe isn't just a business investment — it's a vote of confidence in our community and our workforce," said Olathe Mayor John Bacon. "With over 600 new jobs being created, this facility will fuel local economic growth and reinforce Olathe's position as a regional agricultural leader. We're proud to work with Walmart and build more economic opportunity for our residents." During today's grand opening celebration, Walmart awarded grants to the following local organizations: Kansas Special Olympics – $35,000Special Olympics Kansas provides year-round sports training and athletic competition for children and adults with intellectual disabilities, promoting physical fitness, courage and friendship. Boys & Girls Club of Greater Kansas City – $20,000The Boys & Girls Club inspires kids to live out their potential by providing safe, fun and enriching after-school and summer programs focused on academics, leadership and healthy lifestyles. Friends In Service of Heroes – $30,000Friends In Service of Heroes is dedicated to supporting veterans and their families by providing life-changing resources, mobility assistance and emotional support to those who have served our country. Mayor Bacon's Book Club – $5,000Mayor Bacon's Book Club fosters a love of reading among Olathe's young students by providing free books and encouraging literacy through engaging events and community partnerships. In FY24, Walmart stores, clubs and the Walmart Foundation donated $9.6 million to local Kansas charities. The opening of the new Olathe facility is a pivotal step in Walmart's strategy to build an end-to-end supply chain for Angus beef. With more customers seeking greater transparency about where their food comes from, this investment demonstrates Walmart's commitment to delivering traceable, high-quality products while strengthening supply chain resiliency and control. These efforts also support Walmart's commitment to U.S. Manufacturing and pledge to invest $350 billion in U.S.-made products by 2031. Over two thirds of Walmart's annual spend is on products made, grown or assembled in the U.S. We encourage suppliers with a product made, grown or assembled in the U.S. to apply to attend Walmart's Annual Open Call event. About Walmart Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better — anytime and anywhere — in stores, online, and through their mobile devices. Each week, approximately 270 million customers and members visit more than 10,750 stores and numerous eCommerce websites in 19 countries. With fiscal year 2025 revenue of $681 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting on Facebook at on X (formerly known as Twitter) at and on LinkedIn at View source version on Contacts Media contact:press@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
