Recently, G7 leaders have been engaging in discussions to address the concerning issue of China’s trade policies. A senior U.S. official has highlighted the need for additional steps to level the playing field in trade with China and protect their economic security. The U.S. official emphasized that China has been operating with unfair and anti-competitive
Economy
Central bank decisions in Britain, Switzerland, and Norway are closely monitored by investors to gauge the global rate cutting trend. While the Bank of England is not expected to cut rates before July 4, the Swiss National Bank initiated rate cuts in March, and Norway is hesitant to cut rates with core inflation at around
The recent decision by the Bank of Japan to trim bond buying in the future has sent ripples through the market, leading to a weakening of the yen and a 0.7% increase in the Nikkei. The central bank’s plan to reveal details of its tapering over the next one to two years at the July
The recent G7 summit held in Italy saw a historic agreement among member nations to provide $50 billion in loans for Ukraine, backed by interest from frozen Russian assets. This decision was hailed as a powerful signal of Western unity and resolve. German Chancellor Olaf Scholz described the move as a significant step in sending
China has expressed its disappointment and concern regarding the European Union’s decision to impose tariffs on Chinese electric vehicles. The announcement of additional duties of up to 38.1% on imported Chinese electric cars has sparked tension between the two economic powerhouses. The Chinese government has vowed to take measures to safeguard its interests in response
China’s consumer inflation remained unchanged in May, indicating the ongoing struggles with feeble domestic demand. Despite various support measures, consumer prices have failed to surge, mainly due to low confidence stemming from the prolonged property sector crisis. The Consumer Price Index (CPI) edged up by 0.3% year-on-year in May, matching the previous month’s increase. However,
Chinese automakers are determined to continue their expansion into Europe despite the recent anti-subsidy probe initiated by the EU. The China Passenger Car Association (CPCA) emphasized the unwavering commitment of Chinese enterprises to develop and integrate into local markets in Europe. This statement comes in light of a decline in Chinese car exports for May
As investors grapple with conflicting data, U.S. stock index futures edged lower on Monday. Last week’s Nonfarm Payrolls data exceeded expectations, yet the unemployment rate rose and household surveys indicated weakness. This conflicting data led to indexes closing slightly lower on Friday. Following the release of the strong data, expectations for interest-rate cuts by the
Recent data from the Recruitment and Employment Confederation (REC) revealed that the drop in permanent hiring by employers in Britain was the least severe in over a year in May. This news brings hope of a potential upcoming recovery in the recruitment market. The report indicates that permanent hiring declined by the smallest amount in
The trading week started on a grim note in Asia as traders scaled back expectations for Federal Reserve rate cuts. The tightening labor market in the United States played a significant role in this shift in sentiment. The MSCI’s broadest index of Asia-Pacific shares outside Japan slumped by 0.46%, signaling investor concerns. The nonfarm payrolls