Posts by Stephanie Irvin
US, China to resume trade talks with focus on rare earth exports
[WASHINGTON] Top trade negotiators from the US and China are set to hold fresh talks in London on Monday (Jun 9), offering a glimmer of hope that the world’s two largest economies can defuse tensions over Chinese dominance in rare-earth minerals. Both sides have accused the other of reneging on a deal in Geneva in…
Read MoreBaltic Exchange Shipping Insights
Capesize The Capesize market enjoyed a strong upward trajectory this week, driven by consistent gains in the Pacific and mounting support in both South Brazil and the North Atlantic. The BCI 5TC rose steadily from $19,071 on Monday to $23,572 by week’s end, reflecting robust demand and tightening tonnage across both basins. In the Pacific,…
Read MoreChinese managers take reins at TikTok Shop in US as sales miss goal
[SEATTLE] ByteDance, TikTok’s parent company, has been replacing US-hired staff near Seattle with managers connected to China, aiming to replicate its e-commerce success in Asia after sales fell short in America. TikTok Shop initially set a goal to increase its US e-commerce business tenfold last year to US$17.5 billion in transaction volume, but had to…
Read MoreECB’s Schnabel says now is right time to boost role of euro
[DUBROVNIK] European Central Bank Executive Board member Isabel Schnabel sees a favourable moment now to strengthen the euro’s global role as investors turn to Europe. There is a “window of opportunity” to increase the international role of the euro, she said in a question to a panel at the 31st Dubrovnik Economic Conference on Saturday…
Read MoreMeta in talks for scale AI investment that could top US$10 billion
[NEW YORK] Meta Platforms is in talks to make a multibillion-dollar investment into artificial intelligence startup Scale AI, according to people familiar with the matter. The financing could exceed US$10 billion in value, some of the people said, making it one of the largest private company funding events of all time. The terms of…
Read MoreBHG downsizes Bugis Junction flagship outlet as department stores face shaky future
[SINGAPORE] Department store BHG is downsizing its flagship Bugis Junction outlet – its last remaining permanent store – from three to two levels. This follows the March closure of its Junction 8 store, which will be replaced by home furnishings brand Nitori. Nitori will also take over the third-floor space BHG used to occupy at…
Read MoreTrump says decision on Fed chair will be out soon
Published Sat, Jun 7, 2025 · 08:13 AM [WASHINGTON] President Donald Trump said on Friday that a decision on the next Federal Reserve chair will be coming out soon, adding that a good Fed chair would lower interest rates. “It’s coming out very soon,” Trump told reporters on Air Force One. When asked specifically about…
Read MoreNew push in Europe to curb children’s social media use
[LUXEMBOURG] From dangerous diet tips to disinformation, cyberbullying to hate speech, the glut of online content harmful to children grows every day. But several European countries have had enough and agree the EU should do more to prevent minors’ access to social media. The European Union already has some of the world’s most stringent digital…
Read MoreCrude climbs on US jobs report, China talks
[HOUSTON] Crude rose more than US$1 a barrel on Friday, posting its first weekly gain in three weeks after a favourable US jobs report and resumed trade talks between the US and China, raising hopes for growth in the world’s two largest economies. Brent crude futures settled at US$66.47 a barrel, up US$1.13, or 1.73…
Read MoreBNP to cut 200 branches by end of 2026 to kick off retail revamp
[PARIS] BNP Paribas chief executive officer Jean-Laurent Bonnafe plans to cut hundreds of domestic retail branches in an effort to lift profitability at a business that has struggled for years. In a first step, the French lender plans to close around 80 branches this year and another 120 next, according to people familiar with the…
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