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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Eight years ago, Steven Borrelli, a West Coast American entrepreneur raised, $50,000 from family and friends to start an e-commerce clothing group called Cuts. He has since grown it into a successful venture using just internal funds. Now, however, he needs a financial lifeline. The reason? Like many others, Borrelli imports goods from countries including China and Vietnam. He now faces the expiration today of the crucial “de-minimis” regime that has previously spared lower-price Chinese imports from tariffs, in addition to the…

US employment growth probably decelerated in April and the jobless rate held steady, illustrating healthy yet moderating labour demand entering a period when trade policy risks chilling hiring decisions.Non-farm payroll growth probably decelerated to 138,000 last month after blowing away expectations in March, according to the median estimate in a Bloomberg survey of economists. The joblessness rate is seen unchanged at 4.2 per cent.The data due Friday from the Bureau of Labor Statistics offers the first look at the labour market since the Trump administration imposed expansive punitive tariffs. The surveys behind the report were conducted the second week of…

US employment growth probably decelerated in April and the jobless rate held steady, illustrating healthy yet moderating labour demand entering a period when trade policy risks chilling hiring decisions.Non-farm payroll growth probably decelerated to 138,000 last month after blowing away expectations in March, according to the median estimate in a Bloomberg survey of economists. The joblessness rate is seen unchanged at 4.2 per cent.The data due Friday from the Bureau of Labor Statistics offers the first look at the labour market since the Trump administration imposed expansive punitive tariffs. The surveys behind the report were conducted the second week of…

The Chinese leadership’s renewed emphasis on accelerating Shanghai’s emergence as a global financial centre reaffirms Beijing’s commitment to the long-standing vision as rising tensions with the United States pose potential financial risks, analysts said.During a symposium in Shanghai, Vice-Premier He Lifeng called on Tuesday for efforts to speed up the city’s development as a global financial centre. He was accompanying President Xi Jinping on the Chinese leader’s first inspection tour since sweeping US tariffs escalated a trade war.“There have been precedents of vice-premiers in charge of financial affairs attending forums or meetings in Shanghai, but it’s uncommon to see a…

With less than two weeks to go before the Philippines’ midterm elections, a new survey shows a surprising divergence in voter preferences over Manila’s maritime dispute with China – particularly among the country’s poorest.While an overwhelming 75 per cent of Filipinos say they prefer Senate candidates who will assert the Philippines’ rights over the West Philippine Sea – Manila’s name for parts of the South China Sea within its exclusive economic zone – that number drops sharply among the nation’s most economically vulnerable, according to a survey by pollster Social Weather Stations, commissioned by the Stratbase Group.Among Filipinos in class…

VATICAN CITY (AP) — Preparations for the conclave to find a new pope accelerated Friday with the installation of the chimney out of the Sistine Chapel that will signal the election of a successor to Pope Francis.Vatican firefighters were seen on the roof of the Sistine Chapel installing the chimney, a key moment in the preparation for the May 7 conclave.After every two rounds of voting in the Sistine Chapel, the ballots of the cardinals are burned in a special furnace to indicate the outcome to the outside world.If no pope is chosen, the ballots are mixed with cartridges containing…

Hong Kong stocks rose on Friday, boosted by optimism surrounding potential trade talks between China and the US, as well as an overnight rally on Wall Street fueled by strong earnings reports from some tech giants.The Hang Seng Index advanced 0.9 per cent to 22,313.99 as of 9.56am, on track for a third weekly gain. The Hang Seng Tech Index climbed 1.5 per cent.Mainland stock exchanges were closed for the Labour Day holiday and will resume trading on Tuesday. The benchmark CSI 300 index lost 3 per cent in April.Smartphone and electric-car maker Xiaomi rose 3.9 per cent to HK$51.90…

Hong Kong stocks rose on Friday, boosted by optimism surrounding potential trade talks between China and the US, as well as an overnight rally on Wall Street fuelled by strong earnings reports from some tech giants.The Hang Seng Index advanced 1.3 per cent to 22,409.12 as of 10.52am, on track for a third weekly gain. The Hang Seng Tech Index climbed 2.7 per cent.Mainland stock exchanges were closed for the Labour Day holiday and will resume trading on Tuesday. The benchmark CSI 300 index lost 3 per cent in April.Smartphone and electric-car maker Xiaomi rose 4.2 per cent to HK$52.05…

LONDON (AP) — John Goldsmith was too young to fight in World War II, but he remembers the rationing, the blackouts and the bombs that devastated his neighborhood in east London. And he remembers the party when peace returned to Europe.Church bells rang across the city, bonfires were lit and conga lines snaked through Piccadilly Circus as people filled the streets to celebrate the Allied victory over Nazi Germany. For a 14-year-old boy, May 8, 1945, also brought something else: an end to the tedium of wartime rules and restrictions.“Well, it was such a contrast. Suddenly, freedom! Mucking about. Doing…

LONDON (AP) — The hard-right party Reform UK led by Nigel Farage won a seat in Parliament by a handful of votes and looked set to make more gains in results Friday from local elections the party hopes will show it is a major player in British politics.Reform’s Sarah Pochin was declared winner of the seat of Runcorn and Helsby in northwest England by six votes after a recount, defeating Labour candidate Karen Shore.Labour easily won the district in last year’s national election, but its lawmaker, Mike Amesbury, was forced to quit after he was convicted of punching a constituent…