In May, production at U.S. factories increased by more than expected, showing a 0.9% jump following a 0.4% drop in April. This rebound was better than the predicted 0.3% increase, which came as a surprise to economists. However, the sustainability of this momentum is questionable due to higher interest rates and weakening demand for goods
Economy
The Reserve Bank of Australia (RBA) decided to keep rates at a 12-year high of 4.35% on Tuesday, meeting expectations from the market. The central bank did warn about the importance of remaining cautious regarding inflation risks, leading traders to adjust their expectations on a potential rate cut for the rest of the year. Despite
China has recently announced an anti-dumping investigation into imported pork and its by-products from the European Union, a move that seems to be targeting Spain, the Netherlands, and Denmark. This investigation is seen as a response to restrictions placed on China’s electric vehicle exports. The probe will focus on various pork products intended for human
The European Central Bank policymakers have indicated that they have no intention of discussing emergency purchases of French bonds. Despite the recent turmoil in French financial markets, the ECB is of the opinion that it is the responsibility of French politicians to reassure investors and address concerns related to the prospect of a far-right government
China Premier Li Qiang’s visit to Australia started on a low-key note with a visit to a South Australian winery and Adelaide Zoo. During his visit to the zoo, Li announced that China would be providing Australia with two new pandas once the current pair return to China later in the year. This gesture highlights
The recent rise in support for far-right and leftist parties in France has created political uncertainty ahead of the country’s surprise parliamentary election. With Marine Le Pen’s far-right National Rally party leading in opinion polls and a newly formed leftist alliance gaining momentum, President Emmanuel Macron’s centrist administration is facing increasing pressure. As these parties
Italian Prime Minister Giorgia Meloni, who took office in 2022, has proven to be a pragmatic partner when it comes to major international issues. Despite initial concerns that she would be a dogmatic conservative unwilling to compromise, Meloni has surprised many with her willingness to engage in diplomatic discussions and negotiations with other world leaders.
In a recent Ukraine peace summit held in Lucerne, Switzerland, U.S. Vice President Kamala Harris announced a significant aid package of over $1.5 billion for Ukraine. This aid is intended to address the challenges faced by Ukraine, particularly due to Russia’s ongoing invasion for the past 27 months. Among the funds allocated, $500 million will
Brazil’s President Luiz Inacio Lula da Silva expressed his willingness to review Finance Minister Fernando Haddad’s spending cut recommendations. However, he made it clear that any fiscal adjustments would not come at the expense of the poor. Lula emphasized the need to avoid unnecessary spending while facing pressure from investors to reduce expenditures and balance
Indonesia’s President-elect, Prabowo Subianto, has recently faced backlash over reports suggesting he plans to increase the country’s public debt to 50% of GDP. However, a senior aide has clarified that there is no such plan in place. Thomas Djiwandono, who is responsible for fiscal discussions, stated that Prabowo has not set a target for debt
In a recent statement, French Finance Minister Bruno Le Maire cautioned that France could potentially face a financial crisis if the far-right political party were to win upcoming snap elections. This warning comes in light of the popularity of Marine Le Pen’s eurosceptic National Rally (RN) party, which has been gaining momentum and support, especially
The recent imposition of extra duties by the European Union on imported Chinese electric cars has stirred strong reactions from the Chinese government and impacted various stakeholders in the automotive industry. Beijing has expressed hope that the EU will reconsider these tariffs and avoid further escalation, emphasizing the importance of cooperation between two major economic