Trump delays 50% tariffs on EU to July 9
President of the European Commission Ursula Von der Leyen said that she had a “good call” with Trump, but needed until July 9 to “reach a good deal.”
Financial News
Companies turn to AI to navigate Trump tariff turbulence
Businesses are turning to artificial intelligence tools ranging from intelligent agents to predictive systems that can simulate changes in U.S. tariff policies.
BYD beats Tesla in European EV sales despite EU tariffs in ‘watershed moment,’ report says
BYD sold more pure battery electric vehicles than Tesla for the first time last month, a “watershed moment” for the region’s car market, JATO Dynamics said.Â
Bitcoin hits new record high above $111,000 as rally marches on
Bitcoin continued its rally on Thursday, hitting a brand new record high above $111,000.
UK inflation surges to hotter-than-expected 3.5% in April
The U.K.’s annual inflation rate hit 3.5% in April, coming in above analyst expectations, according to data released by the Office for National Statistics.
Chinese exporters are offering sweet deals to U.S. businesses. They often come wrapped in fraud
The practice, which has been around since Trump’s first term, is gaining momentum as businesses scramble for workarounds to sidestep the new tariffs.
China’s retail sales disappoint as stimulus fails to spur demand; industrial output defies tariffs
Industrial output grew 6.1% in April, stronger than analysts’ expectations for a 5.5% rise, indicating the impact from U.S. tariffs was not particularly pronounced.
Wealthy shoppers are splashing the cash on jewelry — so long as it’s the right brand
The world’s wealthiest are continuing to adorn themselves with the finest jewelry even as broader luxury shoppers pull back.
Moody’s downgrades United States credit rating, citing growth in government debt
Moody’s had been a holdout in keeping U.S. sovereign debt at the highest credit rating possible, and brings the 116-year-old agency into line with its rivals.
Japan assets saw record inflows in April as investors fled U.S. markets — their promise still holds
Japan markets saw a record month of foreign purchases of its equities and bonds in April, but some market watchers believe this to be a one off occurrence.