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Top EU leaders were in Uzbekistan on Friday for a major summit with the heads of five Central Asian states, seeking to press their influence and boost ties in the face of Russian and Chinese competition.

Equities extended losses in Asia on Friday, extending a global rout inflicted by Donald Trump's tariff blitz that has inflamed a trade war and ramped up recession and inflation fears. Oil also extended losses, having tanked more than six percent the day before on fears about the impact of a possible recession on demand.

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Artificial intelligence is set to bring sweeping change to modern life, but at an industrial fair in Germany many companies wonder how they fit into the tech revolution. Koerner said that it seems like "we can hardly afford" some of the AI products being showcased at the fair.

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From European wines to industrial tools, global tariffs launched by US President Donald Trump this week promise to sweep through the world's biggest economy, impacting everyone from restaurant owners to industrial manufacturers. This week, Trump unveiled a sweeping 10 percent tariff on most US trading partners, set to take effect on Saturday.

As global financial markets plunge in the wake of US President Donald Trump's "Liberation Day" tariffs, Americans must also grapple with the potentially long-lasting impact of the move on household budgets. Yale's Budget Lab estimated the effect of recent tariffs, up to and including Wednesday's announcement, would cause a 17 percent rise in the cost of clothing and textiles.
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