Softbank Group, the Japanese venture juggernaut, is leading a consortium that has formed Twenty One Capital, a new fund that will pool the cryptocurrency holdings of the partners with the goal of amassing more Bitcoin.
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TESLA SALES SLUMP IN EUROPE
March marked the third consecutive month of falling sales for Tesla in the European Union (EU) even as demand for electric vehicles (EVs) grew across the region.
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SOUTH KOREA’S ECONOMY CONTRACTS AS CONSUMERS CUT SPENDING
South Korea’s export-dependent economy puckered by 0.2 percent in this year’s first quarter, compared to the final quarter of 2024, and shrank by 0.1 percent against last year’s first three months.
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BYD DOUBLES FIRST-QUARTER PROFITS
BYD, China’s leading electric vehicle (EV) maker, posted first-quarter profits equivalent to $1.26 billion in this year’s first quarter, compared to $63 million for the same quarter in 2024.
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GERMANY TO FLAT-LINE THIS YEAR
Germany’s government has scrapped its prediction of 0.3-percent economic growth this year and now says its economy will not grow at all due to U.S. tariffs.
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EUROZONE BUSINESS CONFIDENCE SINKS TO 30-MONTH LOW
Confidence among Europe’s business owners and executives has sunk to its lowest since November 2022, according to the Hamburg Commercial Bank’s new purchasing managers index (PMI).
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YEMEN DEATH TOLL
The U.S. military killed at least 250 people in over 800 attacks in Yemen since 15 March when Houthi fighters renewed their attacks on Israeli ships in the Red Sea to respond to the ongoing Washington-backed genocide and starvation campaign in Gaza.
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GAZA DEATH TOLL
Israel has killed at least 52,243 Gazans and injured 117,639 since October 2023 as it tightens its grip on the enclave.
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REGULATORS RESCIND CRYPTO GUIDELINES
The Federal Deposit Insurance Corp. (FDIC) and Federal Reserve Board have withdrawn statements issued in 2022 and 2023 that were intended as guidance for banks in dealing with cryptocurrencies.
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COLGATE-PALMOLIVE PARES BACK ITS 2025 FORECAST
Colgate-Palmolive, which makes hundreds of consumer products from pet foods to Ajax cleanser, has cut its sales growth outlook from 3 to 5 percent this year to 2 to 4 percent. Profits will be flat, CEO Noel Wallace said in a 25 April earnings call.