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The Latest Breaking News from China

Scott Bessent says it’s China’s responsibility to ‘de-escalate’ trade war

The U.S. has an escalation plan in its “back pocket” that it doesn’t want to have to use, Bessent said.

Fortune

BRICS Ministers Meet In Brazil Over Trump Trade Policies

Senior diplomats from the BRICS grouping of nations gathered Monday in Brazil to present a united front in the face of US President Donald Trump's aggressive trade policies.

International Business Times

How Tariffs Could Cause Shortages in American Stores

A sharp decline in ocean freight from China during April is a sign of the supply chain issues that will begin hitting in May.

Reason

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Canon confirms that a US price increase is coming as a result of tariffs, but the timing and impact isn’t yet clear

In a quarterly earnings call, Canin Inc. indicated that a price increase is coming to help offset the costs of US tariffs

Digital Camera World

Trump-China tariff war: Who’s winning so far?

It’s early days, but the warning signs are flashing red for the US.

Al Jazeera

Dollar Erases Early Gains on Economic Concerns

The dollar index (DXY00 ) today is down by -0.09%. The dollar today gave up an early advance and turned lower on economic concerns after the Apr Dallas Fed manufacturing survey of general business activity index fell more than expected to a 5-year low. The dollar is also under pressure...

Barchart

RX 9070 GRE pre-orders go live in China — May 8 retail, $575 MSRP, and 6% faster than the RX 7900 GRE

AMD's RX 9070 GRE has officially launched in China and is now available for pre-order starting at 4,199 RMB (approximately $575) with shipments expected to start on May 8th.

Tom’s Hardware

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Hong Kong's business, political elite turn out for funeral of property Lee Shau-kee

Hong Kong political and business leaders paid tribute to the city’s late billionaire property tycoon Lee Shau-kee, who led one of the biggest real estate empires in the former British territory

The Independent UK

Chinese tourist confesses to killing transgender woman and removing her heart

Suspect says victim refused to have sex with him

The Independent UK

Stock Markets Mostly Rise As Investors Eye Trade Talks

Investors were also keeping tabs on China after President Xi Jinping and other top leaders last week discussed plans to boost consumption in the world's number two economy.

Latin Times

Trump tariffs prompt slump in shipments to US ports

Number of vessels scheduled to arrive at Port of Los Angeles next week is down by almost a third year on year

The Guardian - UK

China says it is on track to put boots on Moon by 2030 as Nasa’s Artemis struggles with delay

Chinese spacecraft is slated to attain crewed flight capability by 2027 to 2028

The Independent UK

China Urges Antitrust Compliance in CK Hutchison's Global Ports Deal

China warns CK Hutchison and partners not to bypass antitrust review in $23 billion global ports sale to BlackRock-led group.

Latin Times

China and Philippines raise flags on tiny South China Sea sandbank as tensions mount

Tiny Sandy Cay is strategically vital due to proximity to largest island occupied by Philippines in Spratly archipelago

The Independent UK

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Fortune

Global stocks shake off reports of collapse in U.S. import trade

Apollo published a slide deck arguing that the reduction in imports would be enough to trigger a recession in the U.S. starting in the summer.

International Business Times

China Says On 'Right Side Of History' In Trade Standoff With US

Since returning to the White House in January, US President Donald Trump has imposed 10 percent tariffs on most US trading partners and a separate 145 percent levy on many products from China.

The Guardian - US

Trump signs orders stepping up immigration crackdown and ‘unleashing America’s law enforcement’ – as it happened

Executive orders target sanctuary cities, gives legal help for police accused of misconduct and requires truck drivers to speak English

Barchart

Stocks Set for Muted Open as Investors Await Key U.S. Economic Data and Big Tech Earnings, Trade Talks in Focus

June S&P 500 E-Mini futures (ESM25) are down -0.11%, and June Nasdaq 100 E-Mini futures (NQM25) are down -0.16% this morning as investors look ahead to earnings reports from some of the biggest tech heavyweights as well as key economic data, including the jobs report, the Fed’s favorite inflation gauge,…

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International Business Times

China, Philippines Trade Barbs Over Disputed Reef

China and the Philippines on Monday defended their claims to a disputed reef in the South China Sea, after Manila accused Beijing of seeking to "intimidate and harass" with a state media report that suggested the area had been seized.

Fortune

China’s Huawei encroaches further on Nvidia’s turf and is reportedly set to test a new AI chip aimed at the H100

The chip, dubbed Ascend 910D, will be Huawei’s most powerful AI processor to date, according to a report from the Wall Street Journal.

Motor1

Porsche Could Quit EVs In China

Where would Western luxury automakers be today without the Chinese market? Prestige brands have been riding the gravy train for years, but all good things must come to an end. The rise of domestic automakers has severely impacted demand for international brands; ask Porsche. Its sales in China slipped by…

The Independent UK

China and Philippines display their flags on a disputed South China Sea outcropping

China says six Filipinos landed on a tiny outcropping that both countries claim in the South China Sea

Euronews

Week ahead: Eurozone inflation, Apple and Meta earnings in focus

It is set to be a busy week for financial markets, with key economic data, including the eurozone’s flash inflation figures for April and the US non-farm payrolls, due for release. Additionally, big tech earnings, particularly Apple’s quarterly results, will be closely watched.

Euronews

Gold’s record rally stalls on hopes of easing global trade tensions

Gold retreated sharply from an all-time high in the past week as risk-aversion sentiment abated following Trump’s softened tone on China tariffs. While the price drop may continue in the near term, analysts expect gold to extend its long-term rally due to ongoing uncertainties.

The Guardian - UK

US tariff war hurting trade with China; M&S cyber-attack crisis continues; FTSE 100 rises for 11th day running – as it happened

Rolling coverage of the latest economic and financial news

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People

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