Author: Daniel snow
Bus stop advertising for Chinese fashion company Shein on 4th May 2025 in London, United Kingdom. Mike Kemp | In Pictures | Getty ImagesFast fashion giant Shein’s troubles continue to mount after its much anticipated London initial public offering (IPO) reportedly hit a fresh roadblock.The e-commerce behemoth is now aiming for a Hong Kong listing after failing to receive approval from Chinese regulators for its much hyped London IPO, Reuters reported Wednesday.A London listing had been seen as a boon for the 16-year-old Chinese-founded company, providing international legitimacy and access to a deep and mature pool of Western investors. Analysts…
Qian Xuesen was a Chinese rocket scientist whose work was central to American military power. His exile had world-altering effects. Source link
Asia FX muted as dollar stems losses amid Trump tariff swings; PCE data on tap Source link
Trade talks between the U.S. and China are “a bit stalled,” Treasury Secretary Scott Bessent said Thursday, adding that a breakthrough will likely hinge on President Donald Trump and Chinese President Xi Jinping speaking directly. Source link
The U.S. and Chinese flags are seen on the day of a bilateral meeting between the U.S. and China, in Geneva, Switzerland, May 10, 2025. Keystone/eda/martial Trezzini | Via ReutersBEIJING — U.S.-China trade talks “are a bit stalled,” requiring the two countries’ leaders to speak directly, Treasury Secretary Scott Bessent told Fox News in an interview Thursday local time.”I believe that we will be having more talks with them in the next few weeks,” he said, adding that there may be a call between the two countries’ leaders “at some point.”After a rapid escalation in trade tensions last month, Bessent…
CNBC’s Jim Cramer said Thursday the court fight over President Donald Trump’s tariffs temporarily injects more uncertainty into the stock market — but, he argued, it ultimately could be a gift to investors who worry about the effects of the White House’s trade policy.”Even if you believe in fair trade, not free trade, as I do, you have to wonder how we’re going to get any meaningful deals now that our trading partners know the courts might invalidate the whole tariff agenda,” Cramer said on “Mad Money.” “In that sense, but only in that sense, maybe the judiciary shooting down…
Costco on Thursday returned to its old ways of delivering earnings beats. Despite concerns about a tariff-driven hit to margins, the retailer’s better-than-expected results showed it is prepared to handle whatever challenges it may face. Total revenue in its third quarter of fiscal year 2025 increased 8% year over year to $63.2 billion, topping Wall Street expectations of $63.19 billion, according to estimates compiled by LSEG. Earnings per share (EPS) in the 12 weeks ended May 11 came in at $4.28, beating the consensus of $4.24, LSEG data showed. Shares of Costco were slightly lower in extended trading Thursday, along…
Optimism in the global business travel sector has dropped by more than half this year, according to a report published by the Global Business Travel Association.Positive sentiment fell from 67% in November 2024 to 31% in April 2025, according to the report which surveyed more than 900 business travel professionals on the affect of tariffs, tightened border policies and other U.S. government policies announced this year.More than one in four respondents in Canada, the United States and Europe said they felt “pessimistic” or “very pessimistic” about industry outlook this year.However, 40% of those surveyed said they felt neither positive nor…
Jakub Porzycki | Nurphoto | Getty ImagesThe SEC has formally dropped its lawsuit against Binance and founder Changpeng Zhao, bringing an end to one of the last remaining crypto enforcement actions brought by the agency.In a Thursday filing in the U.S. District Court for the District of Columbia, lawyers for the SEC and Binance jointly moved to dismiss the case, which was first brought in June 2023. The case had accused the crypto exchange of illegally serving U.S. users, inflating trading volumes, and commingling customer funds.This is breaking news. Check back for updates. Source link
Dell’s stock is rising after the company announced a $14 billion-plus AI backlog and said it expects to ship $7 billion worth of AI servers this quarter. Source link