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Maros Sefcovic, European Commissioner for Trade and Economic Security; Interinstitutional Relations and Transparency, speaks to reporters in Singapore on May 7, 2025, after signing of the EU-Singapore Digital Trade Agreement (DTA), a landmark initiative enhancing digital economic cooperation between the European Union and Singapore. Roslan Rahman | Afp | Getty ImagesThe European Union’s executive arm will announce further details of its proposed countermeasures to U.S. tariffs in a Thursday update, European Trade Commissioner Maros Sefcovic said Wednesday. “Tomorrow we will announce next preparatory steps, both in the area of possible rebalancing measures, and also in the areas important for the…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. 1. U.S. stocks are mixed on Wednesday as the S & P 500 attempts to break a two-day losing streak. Investors are optimistic about potential trade negotiations with China. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer plan to meet Chinese officials over the weekend in Switzerland. The more immediate market focus will be what Federal Reserve Chairman Jerome Powell says about tariffs and the economy at his news conference Wednesday afternoon following…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. 1. U.S. stocks are mixed on Wednesday as the S & P 500 attempts to break a two-day losing streak. Investors are optimistic about potential trade negotiations with China. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer plan to meet Chinese officials over the weekend in Switzerland. The more immediate market focus will be what Federal Reserve Chairman Jerome Powell says about tariffs and the economy at his news conference Wednesday afternoon following…

Decree signed by General Assimi Goita days after rare protest suspends activities ‘until further notice’, citing ‘reasons of public order’.Mali’s military government has suspended the activities of political parties “until further notice”, days after a rare pro-democracy rally. The decree signed on Wednesday by the transitional president, General Assimi Goita, cited “reasons of public order” and covered all “associations of a political character”, according to state media. It was issued a week after authorities announced the repeal of a law governing the operation of political parties – a decision interpreted by legal experts as a step towards their dissolution. In…

Fears of an AI bubble bursting appear unjustified — at least judging by Big Tech earnings so far. Alphabet and Club names Amazon , Microsoft and Meta Platforms last week signaled they will continue to aggressively invest in artificial intelligence and cloud infrastructure by either reaffirming or raising their capital expenditure (capex) commitments for their current quarters while keeping their full-year budgets intact. That’s a big deal, considering these four are the dominant hyperscalers — a common term for companies that operate massive data centers to deliver cloud computing platforms or other products and services to customers. Advanced Micro Devices…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Slapping tariffs on foreign films, US President Donald Trump’s latest wheeze, is a plot riddled with holes. Films, like cars, are often multinational affairs. Random example: The Apprentice, a biopic charting the rise of a younger Trump, corralled funding from four countries. The director is Iranian-Danish; two of the leads hail from eastern Europe.It helps to start with some scene-setting. The White House has generally presented tariffs as a way of whittling down the US trade deficit. Yet when it comes to…

Shares of Chinese defense-manufacturing companies rallied on Wednesday, as the escalation in border tensions between Pakistan and India boosted the outlook for mainland exporters, Bloomberg said in a report. Pakistan, which has imported a bulk of the defense equipment including J-10C fighter jets, shot down five Indian planes, including three French Rafale jets. “This led to speculation that Chinese defense platforms may have been deployed in the conflict, given Pakistan’s recent heavy reliance on such arms imports,” the report said. According to Bloomberg, an index of Chinese defense companies in mainland China jumped 1.6% to a two-week high. The J-10C…

LONDON (AP) — Two men who cut down the beloved Sycamore Gap tree did it for a laugh, a prosecutor said Wednesday as he provided a motive for the first time to explain the senseless crime that shocked Britain.Richard Wright told jurors in his closing argument that the men charged with criminal damage for the “arboreal equivalent of mindless thuggery” had badly misread their audience.“They woke up the morning after and soon realized — as the news media rolled in, as the outrage of the public became clear … it must have dawned on them that they couldn’t see anyone…

A Philippine Senate probe has accused the Chinese embassy in Manila of funding a covert online influence campaign aimed at discrediting the country’s military and critics of Beijing ahead of midterm elections – prompting calls for diplomatic sanctions and potential criminal prosecution.If the allegations prove to be true, the operation – said to involve hundreds of fake social media accounts – could lead to the expulsion of embassy personnel and legal action under a rarely invoked 84-year-old law targeting subversive acts during peacetime, analysts have warned.The Chinese embassy and its local partner, Infinitus Marketing Solutions, have strongly denied the accusations.…

Deliveries by Tesla’s Shanghai factory plunged in April, reversing a short-lived turnaround a month earlier, in the latest sign of the US carmaker’s grim situation in the world’s largest electric-vehicle (EV) market.The company’s Gigafactory 3 handed 58,459 Model 3 and Model Y vehicles to customers in mainland China and abroad last month, representing a 25.8 per cent drop from March, according to data released by the China Passenger Car Association (CPCA) on Wednesday. Deliveries slipped 6 per cent from a year earlier.“Tesla’s hopes for a sustained rebound in China have faded since competition is getting fiercer,” said Eric Han, a…