WORLD
Hermès quarterly sales hurt by weakness in Chinese luxury demand
First-quarter sales in Asia Pacific excluding Japan rose 1.2% at constant exchange rates, Hermès International SCA said in a statement
WORLD
How coal power plants, carbon-emitting cars are affecting global blood supply
The study is the first globally to look at how climate change can affect each stage of the blood supply chain, based on a review of international studies
WORLD
Harvard University says IRS revoking tax-exempt status would be ‘unlawful’
With a $53 billion endowment, Harvard has emerged as the highest-profile university to contest Trump’s attempts to force sweeping changes on higher education
WORLD
Xi urges ‘Asian family’ unity as Trump seeks to confine China
Xi landed in Phnom Penh on Thursday, kicking off the final leg of his three-nation tour
MARKETS
Fed’s Powell says strong labour market depends on price stability
Powell said policymakers would balance their dual responsibilities of fostering maximum employment and stable prices
BUSINESS
Gold hits fresh record as trade war, Powell fire up haven demand
Bullion rose as much as 0.4% to $3,357.78 an ounce on Thursday, before paring gains
MARKETS
US stocks slump as Powell remarks add to chipmakers’ woes
The S&P 500 Index fell as much as 3.3% before ending the session down 2.2% in New York, and the Nasdaq 100 Index slumped 3%.
WORLD
Powell to volatile stock market: You’re on your own, for now
It was a message equity investors weren’t expecting after two weeks of volatility following President Trump’s unveiling of punitive tariffs on scores of countries
MARKETS
Asian stocks edge up, yen weakens on tariff talks
Japanese shares gained slightly after President Donald Trump said negotiators made “big progress” in talks to strike a deal to avoid higher levies
WORLD
China open to talks if Trump shows respect, names point person
Other conditions include a more consistent US position and a willingness to address China’s concerns around American sanctions and Taiwan
WORLD
American shoppers flock to Chinese apps on tariff fears
Viral videos touting the high quality, and cheap prices, of goods available on Chinese services have spurred Americans to download apps such as DHgate
WORLD
China names new trade envoy as tariff war with US escalates
Beijing has named Li Chenggang as vice commerce minister and trade envoy, replacing Wang Shouwen
COMPANIES
KKR-backed InCred’s private credit arm to raise $174 million
The fund-raising underscores the growing need for capital in one of the world’s fastest-growing major economies
WORLD
China’s economic growth beats forecasts ahead of tariff impact
China’s gross domestic product grew 5.4% in the first quarter from a year ago, according to govt data
WORLD
Biden breaks silence to jab Trump for social security risks
Social Security has been engulfed in turmoil since becoming a target of Elon Musk’s Department of Government Efficiency despite pledges by Trump to safeguard benefits
BUSINESS
Asian stocks, US futures slide after Nvidia curbs
Contracts for the Nasdaq 100 fell more than 1.4% in early trading and S&P 500 futures dropped 0.9% after Nvidia slumped in after-hours trading.
BUSINESS
Mark Zuckerberg says he considered spinning off Instagram in 2018
Zuckerberg wondered whether Meta Platforms Inc., then known as Facebook Inc., “should consider the extreme step of spinning Instagram out as a separate company.”
BUSINESS
Trump launches critical minerals probe to weigh new tariffs
Trump’s order comes as China retaliates to US tariffs in the form of new export restrictions on the minerals, which are expected to have broad impacts across the US, Europe, and Japan.
BUSINESS
Nvidia says new limits on China exports to cost $5.5 billion
The government informed Nvidia on Monday that the H20 would require a license to export to China “for the indefinite future,” the company said in a regulatory filing Tuesday.
WORLD
Stressed and sidelined homebuyers start to strain Canada economy
Nationwide, sales slumped about 9.3% from a year earlier, the lowest for the month since 2009, according to the Canadian Real Estate Association.
WORLD
China suppliers mock tariffs with Nike, Lululemon deals on TikTok
The sheer volume of similarly themed videos in a short period of time points to a popular backlash against President Donald Trump’s barrage of tariffs, including a 145% levy on China
BUSINESS
Asian stocks rise led by Japan on auto tariff reprieve
Indexes in Japan rose more than 1% with companies such as Toyota Motor and Honda Motor jumping. Shares in China and Hong Kong fluctuated at the open
BUSINESS
Trump floats temporary reprieve for autos as parts tariffs loom
Shares of General Motors, Ford Motor and Chrysler parent Stellantis NV hit session highs after Trump’s comments, reversing earlier declines.
WORLD
Donald Trump’s tangled tariffs sow confusion as negotiators line up
Diplomats and other officials who’ve sought to engage in talks with the US are similarly unsure about how best to proceed.
