Leaders of the Group of Seven (G7) have agreed that it is necessary to de-risk, not decouple from China, and have acknowledged challenges posed by the country’s practices that “distort the global economy.” In a joint statement, the G7 said they are not looking to decouple or turn inwards; instead, they recognize that economic resilience
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On Sunday evening, stock futures fell slightly as traders monitored the negotiations over the U.S. debt ceiling. Futures for the Dow Jones Industrial Average dipped down 63 points or 0.19%. S&P 500 futures also dipped about 0.21%, and Nasdaq 100 futures shed 0.14%. Stocks Rose Last Week Despite Uncertainty Despite the uncertainty in Washington, stocks
Ukrainian President Volodymyr Zelenskyy arrived in Japan on Saturday to attend the Group of Seven (G-7) summit, where he hopes to gain support from the world’s rich democracies and engage with leaders from the Global South who have close ties to Russia. The G-7 meeting in Hiroshima, the first city to suffer a nuclear attack,
Negotiations between the White House and Republican congressional negotiators regarding raising the federal government’s $31.4 trillion debt ceiling have stalled. The second meeting on Friday ended with no progress cited by either side, and no additional meetings have been scheduled. The talks were broken off for several hours on Friday, with less than two weeks
Stocks fell on Friday as GOP negotiators halted ongoing debt ceiling negotiations, which raised doubts about a deal being reached soon. The Dow Jones Industrial Average dropped 109.28 points, or 0.33%, to 33,426.63. The S&P 500 slipped 0.14% to 4,191.98, and the Nasdaq Composite slid 0.24% to 12,657.90. However, despite Friday’s losses, all three major
Political analysts suggest that China faces a significant challenge in attempting to broker a peace deal between Ukraine and Russia. With China trying to appear neutral enough to gain Kyiv’s trust while not hurting its allies in Moscow, the country is walking a diplomatic tightrope. China is stepping up efforts to bring Russia and Ukraine
Despite twelve consecutive central bank interest rate hikes, Bank of England Governor Andrew Bailey has warned that the UK is experiencing a wage-price spiral. Bailey stated that “some of the strength in core inflation [in the UK] reflects the indirect effects of higher energy prices,” but also noted that it reflects second-round effects. He further
UBS has estimated a financial hit of approximately $17 billion from its emergency takeover of Credit Suisse, according to a regulatory filing. The Swiss banking giant has flagged a total negative impact of around $13 billion in fair value adjustments of the new combined entity’s assets and liabilities, along with a potential $4 billion hit
The Tokyo Price Index, or Topix, has hit its highest point since August 1990, indicating that foreign investors have returned to the Japanese equity market. The broad-based index, composed of about 2,000 constituents, has climbed more than 6% since the beginning of the year, outperforming its regional peers in the Asia-Pacific. On Tuesday, the Topix
Elon Musk, the CEO of Tesla, recently expressed his concerns about the growing tension between the United States and China. In an interview with CNBC’s David Faber after Tesla’s annual shareholder meeting, Musk said that everyone should be worried about the situation. The tension between the two superpowers has been rising for some time now,