Daily News Summary – 2026-05-22 – en

A four-storey apartment block collapsed in Fez, Morocco, killing at least nine people. Authorities blame unlicensed construction, highlighting a pattern of unsafe housing.

Newly released documents show Queen Elizabeth II pushed for Prince Andrew's appointment as UK trade envoy, with no formal vetting. Andrew now faces investigation.

A Paris appeals court overturned a 2023 acquittal, fining Airbus and Air France €225,000 each for corporate manslaughter in the 2009 crash that killed 228 people.

A two-year-old girl died of heatstroke in Brión, Spain, after her father inadvertently left her in a locked car for six hours during a record heatwave.

President Trump announced the deployment of 5,000 additional US troops to Poland, reversing earlier Pentagon plans to reduce the American military footprint in Europe.

China's export controls on rare earths create a critical vulnerability for Western defense programs including the F-35 and Virginia-class submarines.

The scramble for lithium, cobalt, and rare earths has escalated into a defining geopolitical struggle, with China controlling 70% of global rare earth output.

Beijing holds a near-monopoly on critical mineral processing, prompting the US and EU to race for alternative supply chains through FORGE and the Critical Raw Materials Act.

BRICS+ nations are accelerating de-dollarization, with 67% of intra-bloc trade in local currencies and the launch of BRICS Pay and 'The Unit'.

The dollar's share of global reserves has fallen to its lowest in three decades as BRICS nations build parallel payment systems and gold-backed settlement instruments.

The US dollar's share of global reserves fell below 57% for the first time since 1995, and BRICS+ nations now conduct 67% of intra-bloc trade in local currencies.

Chancellor Rachel Reeves announced VAT cuts on family attractions, free bus travel for children, and tariff reductions on chocolate and biscuits to offset energy price hikes.

Multinational enterprises face the June 30, 2026 deadline for GloBE Information Return filings under the OECD's 15% global minimum tax, with the US exemption creating a bifurcated playing field.

The near-total shutdown of the Strait of Hormuz has slashed oil supply by 10 million barrels per day, sending Brent crude above $119 and threatening global growth.

A Nature Astronomy study warns that overly cautious methods may be causing scientists to overlook real signs of alien life, with the Viking Mars mission as a potential example.

A new report warns Europe lacks a coherent strategy to compete in AI, with the US and Asia dominating the $3.8 trillion AI trade and Europe's data center capacity far behind.

NVIDIA reported record revenue of $81.6 billion for Q1 FY2027, with Data Center revenue up 92%, driven by AI infrastructure demand and the Blackwell GPU architecture.

OpenAI is preparing to confidentially file for an IPO as soon as Friday, with a potential valuation beyond $1 trillion, amid rivalry with SpaceX and competition from Anthropic.

Gartner projects over 40% of agentic AI projects will be canceled due to escalating costs, unclear business value, and inadequate risk controls, despite a 340% surge in adoption.

The debut launch of Starship V3 was aborted due to a ground system issue. The next attempt is scheduled for May 22, 2026, pending repairs.

The EU and Mexico signed a trade agreement covering tariff elimination, geographical indications, and sustainability commitments, aiming to diversify away from US trade dependence.

China's 2025 rare earth export controls have triggered sixfold price spikes outside China, with Western nations racing to build independent supply chains before the November 2026 deadline.

The EU replaced anti-subsidy tariffs on Chinese EVs with a negotiated price floor system, allowing Chinese exporters to avoid tariffs in exchange for minimum import prices and EU investments.

Flipper Devices announced the Flipper One, a Linux-based cyberdeck with dual processors, M.2 expansion, and open-source commitment, targeting under $350.