AT&T is buying Louisiana-based Lumen Technologies’ fiber optic network for $5.75 billion in cash, the companies announced last week.
Category: 27 May 2025
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SPOTLIGHT: TARNISH ON THE LUXURY INDUSTRY
Miffed at Europe’s inability to reach a trade agreement, last week Donald Trump floated the idea of a new 50-percent tariff on all products from Europe.
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SPOTLIGHT: CRISIS IN THE BOND MARKET
The results of Japan’s 20 May ¥1-trillion bond auction was “dismal,” according to the Financial Times, with so few takers that the yield on long-dated bonds climbed to record heights.
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GAZA DEATH TOLL
The death toll in Gaza’s 598-day genocide reached at least 54,056 along with 123,129 injured. There are at least 11,000 people considered missing.
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SPOTLIGHT: CHINA’S EV MAKERS TAKE CHARGE
In April, BYD—China’s leading maker of electric vehicles (EVs)—sold more cars in Europe than Tesla for the first time, seeing its sales on the continent soar 170 percent year on year. BYD sold 7,231 all-electric vehicles in Europe last month against Tesla’s 7,165.
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SPOTLIGHT: BANKS GO BLOCKCHAIN
Several major banks and financial institutions are stepping up their experiments with tokenizing stock shares and investment funds on blockchains, the digital ledgers that are said to be tamper-proof.
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JAPAN’S INFLATION RATE RISES TO 27-MONTH HIGH
In April, Japan’s core inflation rate reached 3.5 percent, its highest since January 2023, as rice prices shot to record heights across the country.
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INFLATION RETURNS TO THE U.K.
In April, Britain’s consumer prices rose 3.5 percent, year on year, compared to 2.6 percent in March, posting the highest rate since January 2024 and the sharpest monthly increase since October 2022.
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CHINA BOOSTS DIRECT INVESTMENT IN EUROPE
In 2024, China increased its investment in Europe for the first time in seven years, putting about €10 billion into a range of electric vehicle (EV) plants and battery factories in Hungary.
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BUSINESS ACTIVITY SLUMPS IN EUROPE AND JAPAN
This month, business activity has fallen in Europe and Japan to a 17-month low, due in part to Donald Trump’s tariffs and the continued uncertainty surrounding them, The Wall Street Journal reported.