Author: Jack Mulligan
China has responded to President Donald Trump’s escalating trade war with defiance, refusing to back down despite facing 20% tariffs on all exports to the U.S. Beijing has countered with its own retaliatory tariffs, signaling resilience even amid its own economic struggles. This firm stance was evident at the opening of the National People’s Congress (NPC) on Wednesday. National People’s Congress: A Show of Strength Thousands of delegates from across China gathered in Beijing’s Tiananmen Square for the country’s most important political event. Dressed in ceremonial attire, they arrived for discussions largely centered on the economy, though certain sensitive topics—such…
Shares in European carmakers and automotive suppliers fell sharply on Tuesday after new U.S. tariffs of 25% took effect on imports from Canada and Mexico, a key automotive manufacturing hub for global firms. Major Declines in European Auto Stocks The STOXX Europe 600 Automobiles and Parts Index (.SXAP) experienced its largest drop since September 2022, falling 5% in afternoon trading. Companies such as Volkswagen (VOWG_p.DE), Stellantis (STLAM.MI), and BMW (BMWG.DE) were among the hardest hit, as all have significant manufacturing sites in Mexico. According to Mexico’s automotive industry association, Stellantis and Volkswagen Group—including Audi—are the largest European exporters of light…
The European Central Bank (ECB) is widely expected to cut rates again on Thursday, but uncertainty over its future course has reached new highs. Investors are weighing intensifying U.S. tariff risks, a changing German government, a possible Ukraine ceasefire, and a surge in European defense spending. 1. What Will the ECB Do on Thursday? The decision itself is straightforward: another 25 basis point cut, bringing the key rate down to 2.50%. However, market participants will closely scrutinize how the ECB assesses financing conditions, which could provide hints about the rate trajectory after March. “It will be important to see if…
The owners of New Zealand’s Whakaari (White Island) volcano, where a deadly eruption in 2019 claimed the lives of 22 tourists and local guides, had their criminal conviction for failing to ensure visitor safety overturned by a judge on Friday. Background: Deadly Eruption and Legal Battle The eruption occurred in December 2019 when the active volcano on New Zealand’s North Island unexpectedly erupted, catching a group of tourists off guard. The victims were primarily U.S. and Australian cruise ship passengers on a guided walking tour of the island. Following the tragedy, Whakaari Management, the company owned by three brothers who…
Snowflake (SNOW) stock surged over 12% on Thursday following the company’s fourth-quarter earnings report, which exceeded Wall Street expectations. The enterprise software maker reported better-than-expected revenue and provided strong guidance for fiscal 2026, signaling renewed growth momentum. Q4 Earnings Beat Expectations Snowflake reported adjusted earnings of 30 cents per share for Q4, down 14% from the previous year but well above analysts’ estimates of 18 cents per share. The company’s revenue climbed 27% to $986.8 million, surpassing Wall Street’s projection of $956.9 million. RBC Capital analyst Matthew Hedberg noted that Snowflake’s Q4 revenue beat estimates by 3%, although this was…
Egg prices are expected to surge by 41.1% this year as the bird flu epidemic continues to ravage the U.S. agricultural sector, according to a new report by the U.S. Department of Agriculture (USDA). This projection more than doubles the 20% increase predicted in January, reflecting the worsening impact of the highly pathogenic avian influenza outbreak. Why Egg Prices Are Skyrocketing The bird flu outbreak, which began in 2022, has intensified significantly. In January 2025, the virus affected 18.8 million egg-laying hens, marking the highest monthly total since the crisis started. As a result, egg shortages have grown more severe,…
Europe’s luxury sector is finally showing signs of revival after a difficult 2024, bolstered by an upbeat earnings season. High-end brands like Hermes, LVMH, and Gucci-owner Kering exceeded expectations, signaling a potential turnaround. However, uncertainties in Chinese consumer demand and looming U.S. tariffs threaten to complicate the road to recovery. Upbeat Earnings Spark Hope for Recovery Luxury brands delivered strong fourth-quarter performances, sparking optimism for a sector that struggled throughout 2024. Hermes led the pack with impressive sales figures, continuing its market outperformance. Even beleaguered giants like LVMH and Kering posted better-than-expected earnings, suggesting a cyclical recovery may be underway.…
On February 24, 2025, Alibaba Group announced its plan to invest RMB380 billion (US$53 billion) over the next three years to enhance its cloud computing and AI infrastructure. This substantial investment underscores Alibaba’s commitment to technological innovation and solidifies its market position as a leading global cloud provider. Strategic Implications of the Investment Alibaba’s massive investment aims to strengthen its cloud and AI capabilities, positioning the company to better compete with global tech giants. The move is expected to drive significant growth in Alibaba’s cloud business while bolstering its AI-driven products and services. This strategic initiative could also have substantial…
Bluebird Bio announced on Friday that it will sell itself to private equity firms Carlyle and SK Capital for about $30 million, marking the end of its journey from a high-flying biotech firm to a company on the brink of insolvency. Details of the Acquisition Shareholders will receive $3 per share with the potential of earning an additional $6.84 per share if Bluebird’s gene therapies reach $600 million in sales within any 12-month period by the end of 2027. Bluebird’s shares closed at $7.04 on Thursday but plunged 40% following the announcement of the sale. Rise and Fall of Bluebird…
Gold prices surged to a record high on Thursday as escalating trade war fears, fueled by U.S. President Donald Trump’s tariff threats, increased safe-haven demand for the precious metal. Gold Prices and Market Performance Spot gold rose 0.4% to $2,944.38 an ounce by 11:28 a.m. ET (1628 GMT), after hitting an intraday high of $2,954.69, marking its tenth record high this year. U.S. gold futures gained 0.9% to $2,962.30. Gold has gained 12% so far this year as investors seek safety amid geopolitical uncertainties. “Ongoing trade tensions continue to stoke inflation and growth concerns and therefore safe-haven interest in gold,”…