Faced with the loss of U.S. trade as Donald Trump’s tariff war began to take hold, China’s factory output shrank in April by the most in the past 15 months, the Financial Times reported.
Category: 6 May 2025
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SPOTLIGHT: TROUBLES CONTINUE FOR THE LUXURY INDUSTRY
Cosmetics giant Estée Lauder reported revenues 10 percent lower in its fiscal third quarter than a year earlier, falling to $3.55 billion.
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TOP TREND 2024, A GOLDEN YEAR FOR GOLD: CHINESE INVESTORS SHELTER IN GOLD FUNDS AMID ECONOMIC CHAOS
Chinese investors poured the equivalent of $7.4 billion into gold-focused exchange-traded funds (ETFs) in April, a record pace as trade with the U.S. began to collapse under Donald Trump’s trade war and the country’s domestic economy continues to face an uncertain future.
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ECB LEADERS PLAY FAVORITES IN PROMOTIONS, STAFF SAYS
Just 19 percent of European Central Bank (ECB) employees think the bank “does a good job of promoting the most competent people,” a new Ipso survey found.
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CHINA’S AUTOMAKERS CONTINUE STRONG SALES IN APRIL
Coming off a robust first quarter, China’s “new energy” vehicle makers such as BYD and Xpeng reported strong sales continued through April.
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GLOBAL CRYPTO PLATFORMS PLAN OFFICES IN U.S.
Encouraged by Donald Trump’s enthusiasm for digital assets and his administration’s moves to rescind strict oversight measures, cryptocurrency trading platforms are actively looking to open outlets for U.S. customers.
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YEMEN DEATH TOLL
U.S. President Donald Trump announced Tuesday that he will end his punishment campaign against Yemeni civilians who have stood up to defend Gazans who are being massacred by Israel after he said the group “capitulated” and will stop its attacks on ships in the Red Sea.
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IRAN UNVEILS NEWEST BALLISTIC MISSILE, CRITICIZES TRUMP FOR CONFLICTING MESSAGES
The Iranian military on Sunday unveiled its newest ballistic missile called the Qassem Basir, just as nuclear talks with the U.S. hit some unexpected snags after new sanctions from Washington, along with new threats about a military confrontation.
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ISRAEL INTENSIFIES ITS EFFORT TO TURN THE WEST BANK INTO GAZA
The IDF has intensified its military assault in the West Bank—killing over 900 Palestinians since the Hamas attack in October 2023—which has been called by critics an effort to turn the West Bank into Gaza.
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IRAN ‘REJECTS’ U.S., ISRAELI EFFORT TO THREATEN TEHRAN OVER HOUTHI ATTACKS IN THE RED SEA
Amir Saeid Iravani, Iran's permanent UN ambassador, on Monday penned a letter to the UN Security Council blasting the U.S.-Israeli effort to threaten Tehran over the actions of the Houthis in the region, which he called a “flagrant violation of international law” by the Israelis.
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