Asia stocks gain, dollar drifts as inflation tests await
==========

Asian stocks rose on Friday, poised for the fourth month of gains, while the dollar drifted lower. Investors are awaiting inflation readings from Europe and the U.S. that will likely dictate the path of interest rates globally. The U.S. economy grew more slowly than expected in the first quarter, weighing on Treasury yields and the dollar. Market pricing puts a September rate cut by the Federal Reserve at a coin toss. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.55%, while Japan's Nikkei was up 0.20%. China stocks also rose, with the blue-chip index up 0.23% and Hong Kong's Hang Seng index spiking 1.3% higher. The upturn in China's markets came even as the nation's manufacturing activity unexpectedly fell in May. Traders are also watching for any hints of intervention from the Tokyo authorities as the Japanese yen flirts with levels that led to suspected bouts of intervention in April and early May. The yen was last at 156.74 per dollar. The euro last fetched $1.0828 ahead of an inflation report from the euro zone that is set to influence the European Central Bank's policy path. Oil prices eased after a surprise build in U.S. gasoline stocks weighed on the market. Gold prices rose 0.12%.

#AsiaStocks #Dollar #Inflation #InterestRates

https://www.investing.com/news/economy-news/asia-stocks-gain-dollar-drifts-as-inflation-tests-await-3464847 

 Trump guilty verdict does not change US election race, Biden campaign says
==========

U.S. President Joe Biden's reelection campaign says that Donald Trump's guilty verdict in his hush-money trial will not change the dynamics of the November 5 election. Trump became the first U.S. president to be convicted of a crime when a New York jury found him guilty of falsifying documents to cover up a payment to silence a porn star ahead of the 2016 election. Biden's campaign plans to stay focused on their main campaign messages of threats to democracy and abortion access. Opinion polls show a guilty verdict could pose some danger for Trump in an election that could be decided by just tens of thousands of votes in a handful of battleground states.



https://www.investing.com/news/world-news/trump-guilty-verdict-does-not-change-us-election-race-biden-campaign-says-3464751 

 Musk disregarded warnings, hid Twitter stake, US lawsuit claims
==========

Elon Musk ignored warnings about securities disclosure obligations for his Twitter stake, according to a lawsuit. The lawsuit claims that Musk and his associate Jared Birchall were aware of the rule to disclose more than a 5% stake in Twitter. Musk is accused of defrauding investors by delaying disclosure of his Twitter stake to buy shares at lower prices. The lawsuit alleges that Musk saved over $200 million by secretly amassing shares in Twitter. Musk eventually bought Twitter for $44 billion in October 2022 and changed the company's name to X.

#ElonMusk #Twitter #Lawsuit #SecuritiesDisclosure #Fraud #Investors

https://www.investing.com/news/stock-market-news/musk-disregarded-warnings-hid-twitter-stake-us-lawsuit-claims-3464739 

 Former US president Trump found guilty in 'hush money' trial; DJT stock falls 9%
==========

Former US president Donald Trump has been found guilty on all charges in his 'hush money' trial in New York. The jury, consisting of 12 New Yorkers, determined that Trump had broken the law by falsifying business records to conceal a $130,000 payment made to adult film actress Stormy Daniels prior to the 2016 election. Trump has been convicted on all 34 counts he was facing. The verdict marks the first time a former US president has been convicted of a crime. Trump has consistently denied any sexual involvement with Daniels and pleaded not guilty. The sentencing is set for July 11th.

#DonaldTrump #HushMoneyTrial #DjtStock

https://www.investing.com/news/general/former-us-president-trump-found-guilty-in-hush-money-trial-djt-stock-falls-9-3464606 

 U.S. FDA set to reorganize its food division starting October
==========

The U.S. Food and Drug Administration (FDA) plans to restructure its food division starting in October to oversee human food supply chains and agricultural products more efficiently. The reorganization includes the creation of a unified Human Foods Program (HFP) and the adoption of a new model for the FDA's field operations. The HFP will take over the roles of the Center for Food Safety and Applied Nutrition and the Office of Food Policy and Response, along with key functions from the Office of Regulatory Affairs. The reorganization follows criticism of the FDA's slow response to the infant formula shortage in 2022 and is in line with recommendations made by the Reagan-Udall Foundation. James Jones, an EPA veteran, was appointed as the deputy commissioner for human foods to set up the human foods program.



https://www.investing.com/news/stock-market-news/us-fda-set-to-reorganize-its-food-division-starting-october-3464063 

 Factbox-India election 2024 - What lies ahead for the new government
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India is expected to have a new government in place by the middle of June after a six-week election that began on April 19. Votes will be counted on June 4 and analysts expect Prime Minister Narendra Modi to win a third straight term. Key issues the winning party or coalition will need to tackle include economic disparity, inflation above the central bank's target, unemployment, foreign relations, stagnant farm income, and land and labor reforms.

#India #Election #Government #NarendraModi #EconomicDisparity #Inflation #Unemployment #ForeignRelations #FarmIncome #LandReform #LaborReform

https://www.investing.com/news/economy-news/factboxindia-election-2024--what-lies-ahead-for-the-new-government-3462440 

 Analysis-Biggest month of bond supply to test markets as rate cut bets fade
==========

Global bond markets face the biggest amount of net sovereign issuance in June, with net government bond supply likely to rise to $340 billion for the United States, euro zone countries, and Britain. The increase in bond supply comes as economic data throws rate cuts into doubt, testing investors' appetite for debt. The potential increase in supply could add upward pressure on yields and spook investors who were hoping for a bond market rally this year. Weak U.S. Treasury auctions on Tuesday may be an early sign of market struggle. Central banks are reducing their bond holdings, and developed market governments are still borrowing large amounts to help their economies recover. Investors have been eager to step in, but concerns about rising debt levels and mounting deficits may lead to higher risk premiums in the future. June's elevated net supply is driven by a fall in maturing bonds, which means investors have less cash to reinvest in the primary market. Overall, the article highlights the challenges and risks faced by bond markets as they navigate increased supply and uncertain rate cut expectations.

#BondMarkets #RateCuts #BondSupply #EconomicData

https://www.investing.com/news/economy-news/analysisbiggest-month-of-bond-supply-to-test-markets-as-rate-cut-bets-fade-3462417 

 Walmart says customers overcharged at some US stores due to technical issue
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Walmart experienced a technical issue in mid-March that resulted in overcharging customers at some stores in the United States. The issue lasted for days and affected self-checkout kiosks at 1,600 stores, resulting in overcharging on thousands of items. Walmart has prioritized refunding affected customers. The company did not disclose the number of products impacted or the amount of overpayment. In January, Walmart settled a class-action lawsuit in Florida for $45 million over allegations of overcharging. Walmart has invested billions in upgrading its stores and technology, including self-checkout options.

#Walmart #TechnicalIssue #Overcharging #Selfcheckout #ClassactionLawsuit

https://www.investing.com/news/stock-market-news/walmart-says-customers-overcharged-at-some-us-stores-due-to-technical-issue-3462220 

 US Treasury says regulators should consider NFT guidance, given fraud risks
==========

The U.S. Treasury Department has recommended that regulators consider issuing new guidance or rules to address the financial risks associated with nonfungible tokens (NFTs). In a report published on Wednesday, the Treasury Department highlighted the high susceptibility of NFTs to fraud and their potential use in money laundering. However, the report also noted that other sectors, including other digital assets, pose greater risks for illicit finance, so regulating NFTs should not be the sole priority. U.S. regulators have been working to enhance oversight of digital asset markets.

#UsTreasury #Nft #FraudRisks #Regulation #DigitalAssets

https://www.investing.com/news/economy-news/us-treasury-says-regulators-should-consider-nft-guidance-given-fraud-risks-3461757 

 US Supreme Court Justice Alito rejects calls to recuse in 2020 election cases
==========

Conservative U.S. Supreme Court Justice Samuel Alito rejected requests by Democratic lawmakers to recuse himself from cases related to the 2020 election, including Donald Trump's bid for immunity from prosecution on federal criminal charges for trying to reverse his defeat. Some lawmakers called for him to step aside from the pending cases after media reports that flags like those carried by Trump supporters during the Jan. 6, 2021, attack on the U.S. Capitol flew outside his homes in recent years. Alito said that in both cases his wife, Martha-Ann Alito, was responsible for flying the flags, and that he had no involvement.

#UsSupremeCourt #2020Election #JusticeSamuelAlito

https://www.investing.com/news/world-news/us-supreme-court-justice-alito-rejects-calls-to-recuse-in-2020-election-cases-3461637 

 US tells UN: Israel undermines goals with civilian harm in Gaza
==========

The United States has told the United Nations Security Council that Israel must do more to protect Palestinian civilians in Gaza and remove barriers to the flow of aid into the enclave. The US deputy ambassador to the UN, Robert Wood, stated that the continued pattern of civilian harm resulting from incidents like Sunday's airstrikes undermines Israel's strategic goals in Gaza. The US is reviewing a draft UN Security Council resolution put forward by Algeria that orders Israel to immediately halt its military offensive in Rafah. The resolution cites a ruling by the International Court of Justice that ordered Israel to halt its military assault on Rafah. Israel has been fighting to eradicate Hamas, which rules Gaza, since a cross-border attack in October 2023. The US believes there are alternatives to a major military operation that would better advance Israel's goal of defeating Hamas and protecting innocent Palestinians.

#Israel #Gaza #UnitedNations #UnitedStates #Hamas

https://www.investing.com/news/world-news/us-tells-un-israel-undermines-goals-with-civilian-harm-in-gaza-3461456 

 Exclusive-Nicotine-like chemicals in U.S. vapes may be more potent than nicotine, FDA says
==========

Nicotine alternatives used in vapes, such as 6-methyl nicotine, may be more potent and addictive than nicotine itself, according to the U.S. Food and Drug Administration (FDA) and independent researchers. These synthetic substances, which have a chemical structure similar to nicotine, are not subject to U.S. tobacco and vaping regulations. Manufacturers can sell vapes containing synthetic nicotine analogues without seeking authorization from the FDA. Big tobacco firms like Altria Group and British American Tobacco have already lost substantial U.S. sales to disposable vapes containing traditional nicotine that are being illegally sold without FDA authorization. The FDA is considering the use of synthetic compounds like 6-methyl nicotine and is reviewing the available data to inform potential actions. However, current studies on 6-methyl nicotine are limited, and more research is needed to understand its health impact and addictive properties. The FDA is concerned about the potential harm to youth, as nicotine can alter adolescent brain development and have long-term effects on attention, learning, and memory. The FDA has yet to approve any flavored vape using traditional nicotine for sale in the United States, citing the risks to young people. Charlie's Holdings, a vape company, uses 6-methyl nicotine in its product SPREE BAR, which promises 6,000 puffs per device and offers fruity flavors. The company only targets adults and believes flavors play an important role in helping smokers quit cigarettes. Novel Compounds, a U.S. firm, supplies the 6-methyl nicotine solution used in SPREE BAR. The company imports 6-methyl nicotine from overseas and alters it to make it easier for manufacturers to use. Aroma King, another company, sells 6-methyl nicotine in the United Kingdom in pouches, claiming they are less toxic, harmful, and addictive than regular nicotine products. Four Chinese companies hold patents related to the production of 6-methyl nicotine.

#Nicotine #Vapes #Fda #Tobacco #Addiction

https://www.investing.com/news/stock-market-news/exclusivenicotinelike-chemicals-in-us-vapes-may-be-more-potent-than-nicotine-fda-says-3460719 

 EU should delay implementing some bank rules if US drags feet, Villeroy says
==========

ECB policymaker Francois Villeroy de Galhau suggests that the European Union should delay implementing certain bank capital rules if the US does not fully implement the Basel III rules. Villeroy states that US banks not applying the Basel III rules puts European banks at a competitive disadvantage. He suggests that if the delays and differences in content are too great, Europe could postpone the entry into force or adjust certain provisions, particularly those concerning market risks. Villeroy's comments come after French President Emmanuel Macron called for a revision of how the EU applies the rules, stating that the EU should not be the only economic zone in the world that applies them.

#Eu #BankRules #BaselIii #UsBanks #CompetitiveDisadvantage

https://www.investing.com/news/economy-news/eu-should-delay-implementing-some-bank-rules-if-us-drags-feet-villeroy-says-3460274 

 June ECB rate cut a done deal, majority expects cuts in Sept, Dec too : Reuters poll
==========

All 82 economists polled by Reuters predict a European Central Bank (ECB) interest rate cut on June 6, with a majority also expecting two further reductions in September and December. However, financial markets are only pricing in two rate cuts for 2024, compared to the six expected at the start of the year. The discrepancy between economic forecasters and traders is due to uncertainty over how fast the ECB can lower rates, despite signs of encouraging inflation and wage growth. The ECB has hinted at a June rate cut, but debate over the extent of future cuts has intensified. The majority of economists surveyed expect three rate cuts in total for 2024, with the deposit rate predicted to reach 2.50%. However, some economists have scaled back their rate cut predictions, and only 22% expect the deposit rate to be at 3.00% or lower by the end of 2024. The ECB's decision will be influenced by wage growth, which is expected to remain above 3% until at least 2026. Inflation is predicted to rise to 2.5% in May and is not expected to reach the ECB's target until Q3 2025. The euro zone economy is forecasted to grow by 0.3% this quarter and next, with an average growth rate of 0.7% for the year.

#Ecb #InterestRates #Economists #RateCuts #Inflation #WageGrowth #EconomicForecast

https://www.investing.com/news/economy-news/june-ecb-rate-cut-a-done-deal-majority-expects-cuts-in-sept-dec-too--reuters-poll-3460275 

 Analysis-Rare spat shows China, North Korea still at odds on nuclear weapons
==========

North Korea criticized China, Japan, and South Korea for discussing denuclearization of the Korean peninsula, calling it a "grave political provocation". China helped tone down the joint statement by advocating mention of the peninsula rather than the North specifically, but this still raised North Korea's concerns. North Korea's criticism indicates its stance that any diplomatic rhetoric suggesting Pyongyang should eventually denuclearize is unacceptable. China's fundamental position on denuclearization has not changed, but it has reservations about North Korea's deepening military cooperation with Russia. Despite warming ties in other areas, China and North Korea still have differences of opinion on North Korea's nuclear weapons arsenal.

#China #NorthKorea #NuclearWeapons #Denuclearization #Diplomacy

https://www.investing.com/news/world-news/analysisrare-spat-shows-china-north-korea-still-at-odds-on-nuclear-weapons-3460144 

 Australian house price rises seen extending through 2026 - Reuters poll
==========

Australian home price rises are expected to continue through 2026, according to a Reuters poll of analysts. The supply of affordable homes is projected to fall short of demand, leading to rising prices. After surging more than 25% during the pandemic, prices fully recovered by the end of 2023, rising 8.1% over the year. Economists do not expect the Reserve Bank of Australia (RBA) to cut interest rates until the fourth quarter of this year. The average asking price of an Australian property was A$779,817 ($520,293.90) in April, nearly eight times the average annual income. The government has pledged to build 1.2 million homes by 2030 to address the housing crisis.

#AustralianHousePrices #HousingMarket #InterestRates #SupplyAndDemand

https://www.investing.com/news/economy-news/australian-house-price-rises-seen-extending-through-2026--reuters-poll-3460101 

 Amid merger speculation, Brazilian airline Gol says parent talking with Azul
==========

Brazilian airline Gol has confirmed that its parent company Abra Group is in talks with airline Azul to explore opportunities. The possible agreement between Abra Group and Azul would not be binding for Gol. Last week, Gol and Azul announced a codeshare agreement connecting their networks and frequent flyer programs, sparking speculation about a potential merger. Gol filed for bankruptcy protection earlier this year, while Azul denied negotiations over any deal with Gol.

#Brazil #Gol #Azul #Merger #Codeshare #Bankruptcy

https://www.investing.com/news/stock-market-news/amid-merger-speculation-brazilian-airline-gol-says-parent-talking-with-azul-3460052 

 US defines 'major' Rafah operation that would change Israel policy
==========

The White House has provided a definition of what it considers a 'major ground operation' in Rafah that could trigger a change in US policy toward Israel. White House national security spokesperson John Kirby stated that a major ground operation would involve large units and numbers of troops in coordinated maneuvers against multiple targets on the ground. The Biden administration has warned Israel against launching a large-scale military offensive in Rafah without a credible plan to protect civilians. Israel's three-week-old Rafah offensive has drawn international outrage, particularly after an airstrike on Sunday that killed at least 45 people. The US is the largest supplier of weapons to Israel.

#Us #Israel #Rafah #WhiteHouse #BidenAdministration

https://www.investing.com/news/world-news/us-defines-major-rafah-operation-that-would-change-israel-policy-3460011 

 US Treasury sells $70B 5-year notes at higher-than-expected yield as demand cools
==========

The US government sold $70 billion of 5-year notes at a higher-than-expected yield as demand eased slightly. The notes were awarded at a yield of 4.553%, above the pre-sale rate of 4.540%, but below the high of 4.659% seen in the prior auction. The bid to cover ratio for the auction fell to 2.30 from 2.39 in the previous auction. The yield on the 5-year Treasury rose to 4.968% following the results.

#UsTreasury #5yearNotes #Yield #Demand #FederalReserve

https://www.investing.com/news/stock-market-news/us-treasury-sells-70b-5year-notes-at-higherthanexpected-yield-as-demand-cools-3459477 

 Poland signs $735 million missile contract with U.S
==========

Poland has signed a $735 million contract with the U.S. for the supply of JASSM-ER missiles. The contract was announced by Defence Minister Wladyslaw Kosiniak-Kamysz. The missiles have a range of around 1,000 kilometers. This comes as Poland is spending around 4% of its GDP on defense and has recently announced an agreement with the U.S. for the delivery of a $960 million airspace reconnaissance system.



https://www.investing.com/news/economic-indicators/poland-signs-735-million-missile-contract-with-us-3459045 

 Explainer-What to expect as US moves towards faster stock settlement
==========

U.S. markets are set for an upheaval on Tuesday when the settlement time for U.S. equities, corporate municipal bonds and other securities will be halved to one day, or T+1, after the adoption of a new Securities and Exchange Commission rule in February 2023. The change is expected to reduce risk and improve efficiency in the markets, as investors will get their money and securities sooner. Market participants, such as banks, custodians, asset managers, and regulators, have been working to ensure a smooth transition. The U.S. is not the first country to move to T+1 settlement, as India, China, Canada, Mexico, and Argentina have already made the shift. Britain's stock markets plan to shift to T+1 by the end of 2027, and the European Union is also considering the move. However, there are challenges and potential risks associated with faster settlements, including the need for financial firms to adjust their processes and the possibility of a temporary increase in trade fails.

#UsStockMarket #Settlement #SecuritiesAndExchangeCommission #Risk #Efficiency #MarketParticipants #India #China #Canada #Mexico #Argentina #Britain #EuropeanUnion #TradeFails

https://www.investing.com/news/stock-market-news/explainerwhat-to-expect-as-us-moves-towards-faster-stock-settlement-3458592 

 Analysis-US tariffs on Chinese medical imports face industry doubt as alternative suppliers emerge
==========

Higher U.S. tariffs on medical gloves, syringes, and face masks from China are unlikely to make U.S. producers more competitive as other low-cost suppliers are expected to fill the gap. Chinese firms could reroute shipments via overseas supply chains, and suppliers from other countries such as Malaysia could seize this opportunity. The tariffs on gloves are set to go into force in 2026, while the proposed duties on masks and syringes will take effect in August this year. The U.S. imported nearly $640 million in face masks, syringes, and gloves from China in 2023. China was the biggest exporter of medical-grade masks by volume in 2023, with an average selling price of $4.14 per kg, lower than rival exporter Malaysia's $5.5 selling price. Malaysia's Top Glove, the world's largest medical glove maker, expects the U.S. tariffs to boost the prices of domestically produced gloves that have dropped below production costs due to competition from China. Some U.S. producers argue that the most promising avenue for them would be Washington's intervention on the demand side, such as increasing purchases of U.S.-made goods.

#UsTariffs #ChineseMedicalImports #AlternativeSuppliers #MedicalGloves #Syringes #FaceMasks #China #Malaysia #Competition #DemandSide

https://www.investing.com/news/stock-market-news/analysisus-tariffs-on-chinese-medical-imports-face-industry-doubt-as-alternative-suppliers-emerge-3458553 

 Baozun shares gain over 4% on Q1 earnings, revenue beat
==========

Baozun Inc. reported a significant beat on both earnings and revenue for Q1 2024. The company's adjusted earnings per share (EPS) stood at RMB0.25, surpassing the analyst estimate of RMB0.01 by RMB0.24. Revenue also exceeded expectations, coming in at RMB1.98 billion against the consensus estimate of RMB1.89 billion. Baozun's shares climbed 4.8% in response to the news. Baozun's Chairman and CEO, Mr. Vincent Qiu, expressed satisfaction with the company's first-quarter achievements, highlighting the progress in growing service revenue and the successful introduction of exclusive distribution models. CFO Ms. Catherine Zhu noted a 5% year-over-year (YoY) revenue increase, attributing the growth to enhanced contributions from Brand Management and improved momentum in E-Commerce. The first quarter of 2024 saw Baozun's total net revenues rise by 4.9% to RMB1,979.8 million (US$274.2 million), compared with RMB1,887.8 million for the same period in 2023. However, the company experienced a loss from operations of RMB54.8 million (US$7.6 million), which widened from RMB40.6 million in the previous year. Baozun's net loss attributable to ordinary shareholders narrowed to RMB66.6 million (US$9.2 million) from RMB83.5 million YoY. Baozun's Brand Management segment reported a 65.6% YoY increase in product sales revenue, totaling RMB312.9 million. The E-Commerce segment's service revenue returned to growth, with notable performance in sportswear store operations, digital marketing, and IT services.

#Baozun #Earnings #Revenue #Q1 #FinancialPerformance

https://www.investing.com/news/stock-market-news/baozun-shares-gain-over-4-on-q1-earnings-revenue-beat-93CH-3458522 

 Elbit Systems earnings beat by $0.48, revenue topped estimates
==========

Elbit Systems reported first quarter EPS of $1.81, $0.48 better than the analyst estimate of $1.33. Revenue for the quarter came in at $1.55B versus the consensus estimate of $1.49B. Elbit Systems' stock price closed at $198.58. It is down -11.09% in the last 3 months and up 2.49% in the last 12 months. Elbit Systems saw positive EPS revisions and negative EPS revisions in the last 90 days. Elbit Systems' Financial Health score is unknown. Elbit Systems is a company in the financial markets industry. The article was published on May 28, 2024, at 04:28 AM.



https://www.investing.com/news/stock-market-news/elbit-systems-earnings-beat-by-048-revenue-topped-estimates-3458162 

 PCE, GDP on Tap This Week: Can the Economy Maintain Momentum?
==========

The Q2 '24 Atlanta Nowcast is projecting mid 3% GDP for the 2nd quarter, 2024. The scheduled GDP release this Thursday, May 30, '24, is the 2nd look at Q1 '24 GDP and the 2nd estimate is expecting 1.3% – 1.5%. Core PCE data for April '24 is expected at +0.3%. Inflation expectations are important, and the University of Michigan Data shows that both year-ahead and long-run inflation expectations have seen inflation expectations revised lower. The inflation data this week will impact Treasury yields, stock prices, and inflation metrics. Crude oil prices also impact Treasuries and stock prices. The US economy and stock market are performing well. The article concludes by stating that past performance is not a guarantee of future results and readers should adjust their portfolios accordingly.



https://www.investing.com/analysis/pce-gdp-on-tap-this-week-can-the-economy-maintain-momentum-200648761 

 Gold steady as focus turns to US inflation data
==========

Gold prices held steady as the dollar eased, while investors looked forward to key U.S. inflation data that could offer clues on how soon the Federal Reserve can cut interest rates. Spot gold was flat at $2,350.85 per ounce, as of 0350 GMT, after rising about 1% in the previous session. The core personal consumption expenditures price index (PCE), the Fed's preferred inflation measure, is due on Friday. Traders' bets indicated rising scepticism that the U.S. central bank will lower rates more than once in 2024, currently pricing in about a 62% chance of a rate cut by November according to the CME FedWatch Tool.



https://www.investing.com/news/economy-news/gold-steady-as-focus-turns-to-us-inflation-data-3457987 

 Papua New Guinea orders thousands to evacuate from path of 'active' landslide
==========

The government of Papua New Guinea has ordered thousands of residents to evacuate from the path of an 'active' landslide in the northern Enga region. The landslide occurred on Friday, burying an initial estimate of more than 2,000 people. Relief teams have been deployed to the area, but the odds of finding survivors are slim. The landslide is still active, with rocks and debris continuing to come down. A state of emergency has been declared in the disaster zone, and military personnel are assisting with the evacuation. The total death toll is uncertain, but it is expected to be a significant number in the hundreds.

#PapuaNewGuinea #Landslide #Evacuation #Disaster #Emergency

https://www.investing.com/news/world-news/papua-new-guinea-orders-thousands-to-evacuate-from-path-of-active-landslide-3457984 

 Japan concerned more about negative aspects of weak yen, finance minister says
==========

Japanese Finance Minister Shunichi Suzuki expressed concern about the negative aspects of the current weakness in the yen. He stated that while a weak yen boosts exporters' profits, it also increases burdens on companies and consumers as it pushes up import prices. Suzuki emphasized that Japan's policy goal is to achieve wage increases that exceed the rise in prices, and therefore, they are more concerned about the negative impact of the yen's weakness at this point.



https://www.investing.com/news/economy-news/japan-concerned-more-about-negative-aspects-of-weak-yen-finance-minister-says-3457970 

 Australia retail sales grow less than expected in April
==========

Australia retail sales grew 0.1% month-on-month in April, weaker than the expected growth of 0.3%. The weak data suggests that Australian retail spending had plateaued in 2024 and consumers scaled back on discretionary spending. Sticky inflation and high mortgage rates have pressured spending. The Reserve Bank of Australia may keep interest rates high for longer due to sticky inflation. The weak retail sales data could lead to a softer outlook for inflation. A monthly consumer price index inflation reading for April is due on Wednesday.

#Australia #RetailSales #ConsumerSpending #Inflation #InterestRates

https://www.investing.com/news/economic-indicators/australia-retail-sales-grow-less-than-expected-in-april-3457968 

 Trump seeks to deny prosecutors' gag-order motion in documents case
==========

Lawyers for Donald Trump have asked a federal judge to reject prosecutors' request for a gag order limiting what the former U.S. president can say about law enforcement officers involved in the case accusing him of mishandling sensitive documents. Trump's team also asked the judge to impose sanctions and pursue civil contempt findings against "all government attorneys who participated in the decision to file the motion." Prosecutors have brought 40 counts of illegally retaining sensitive national security documents against Trump in the documents case. On Friday, prosecutors asked the judge to review Trump's bail conditions and issue an order to prevent him from making statements that pose a danger to law enforcement. Trump's criminal trial in New York, on charges that he falsified business records to cover up a hush-money payment to porn star Stormy Daniels before the 2016 election, is scheduled to resume on Tuesday with closing arguments. Trump also faces charges in Washington and Georgia over attempts to overturn his 2020 election loss to Biden.

#DonaldTrump #Prosecutors #GagOrder #DocumentsCase #LawEnforcement #NationalSecurity #Trial #Charges

https://www.investing.com/news/world-news/trump-seeks-to-deny-prosecutors-gagorder-motion-in-documents-case-3457961 

 UK's Sunak proposes tax cuts for pensioners in new election pledge
==========

British Prime Minister Rishi Sunak has proposed tax cuts for pensioners in his latest campaign pledge. The Conservative Party plans to introduce a new age-related allowance and deliver a tax cut of around £100 ($128) for each of the 8 million pensioners in 2025, rising to almost £300 a year by the end of the next parliament. The proposal, called 'triple lock plus,' will cost £2.4 billion a year by 2029/30 and will be funded through the government's plan to raise an extra £6 billion a year by clamping down on tax avoidance and evasion. The number of pensioners in Britain rose by 140,000 to 12.6 million in the year to February 2023. The upcoming July election is predicted to end 14 years of Conservative rule in the country.

#Uk #TaxCuts #Pensioners #ElectionPledge #ConservativeParty

https://www.investing.com/news/world-news/uks-sunak-proposes-tax-cuts-for-pensioners-in-new-election-pledge-3457946 

 Deadly fire spreads despair, grief among Gazans after Israeli strike
==========

A deadly Israeli airstrike in Gaza leaves a fire raging in a camp area designated for displaced people in Rafah city's Tel Al-Sultan district. The airstrike resulted in the death of 45 people, mostly women, children, and the elderly. Thousands of Palestinians had been sheltering in Tel Al-Sultan after Israeli forces began a ground offensive in the east of Rafah over two weeks ago. The incident prompted an outcry from global leaders, and Israel's top military prosecutor called the air strike "very grave" and said an investigation was under way.

#Gaza #IsraeliAirstrike #DisplacedPeople #Rafah #TelAlsultan

https://www.investing.com/news/world-news/deadly-fire-spreads-despair-grief-among-gazans-after-israeli-strike-3457901 

 Israel stocks higher at close of trade; TA 35 up 0.03%
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Israel stocks closed higher, with the TA 35 index up 0.03%. Delek Group rose 3.51% and Tower Semiconductor Ltd added 1.92%. Bezeq Israeli Telecommunication Corp Ltd was up 0.88%. The worst performers were Strauss Group, which fell 6.45%, Harel declined 1.54%, and Shikun & Binui was down 1.40%. Falling stocks outnumbered advancing ones on the Tel Aviv Stock Exchange. Crude oil for July delivery was up 0.94% and Brent oil for delivery in August rose 0.92%. USD/ILS was up 0.51% and EUR/ILS rose 0.55%.



https://www.investing.com/news/stock-market-news/israel-stocks-higher-at-close-of-trade-ta-35-up-003-3457805 

 International community should redouble pressure on Israel -Colombia minister
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Colombia's foreign minister, Luis Gilberto Murillo, has called on the international community to increase pressure on Israel to negotiate a peaceful solution to the conflict in Gaza. Murillo referred to the actions in Gaza as genocide and urged Israel's allies to convince Israeli Prime Minister Benjamin Netanyahu to reach a ceasefire, allow humanitarian aid, and engage in peaceful negotiations. Colombia's President Gustavo Petro has criticized Netanyahu and severed relations with Israel, but Murillo stated that Colombia is open to reestablishing relations if there is a ceasefire and access to humanitarian aid. The international community should redouble its pressure on Israel, according to Murillo.

#Israel #Colombia #Gaza #Conflict #Genocide #Ceasefire #HumanitarianAid #Negotiations

https://www.investing.com/news/world-news/international-community-should-redouble-pressure-on-israel-colombia-minister-3457783 

 China Vanke sells Shenzhen land plot at loss-making reserve price
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China Vanke, a Chinese property developer, has completed the sale of a plot of land in Shenzhen for 2.24 billion yuan ($309.23 million), more than 27% below the price it paid for the block nearly seven years ago. The sale comes as the company is facing short-term liquidity pressure and aims to raise funds. Vanke's largest shareholder, state-owned Shenzhen Metro, and Shenzhen Baishuo Yinghai Investment jointly bought the plot at the reserve price. The deal will help Vanke free up capital from non-core business assets. Vanke bought the same block in late 2017 for 3.1 billion yuan. The company plans to boost cash flow this year through bank financing and asset disposals worth more than 30 billion yuan.

#ChinaVanke #Shenzhen #PropertyDeveloper #LiquidityPressure #LandSale

https://www.investing.com/news/stock-market-news/china-vanke-sells-shenzhen-land-plot-at-lossmaking-reserve-price-3457685 

 Bank of Israel's statement after monetary policy meeting
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The Bank of Israel held interest rates steady on Monday for the third straight meeting. Economic activity and the labor market continue to recover gradually. Inflation in the past 12 months is 2.8 percent. Home prices continue to increase in the housing market. The global economy continued to expand in the first quarter. The Monetary Committee’s policy is focusing on stabilizing the markets and reducing uncertainty, alongside price stability and supporting economic activity.



https://www.investing.com/news/economy-news/bank-of-israels-statement-after-monetary-policy-meeting-3457772 

 ECB's Lane says cuts will depend on underlying inflation, demand
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ECB chief economist Philip Lane stated that the European Central Bank will adjust the pace of interest rate cuts based on the strength of underlying inflation and demand. If there are upward surprises to underlying inflation and demand, the rate cuts will be slower, while they will be faster in the case of downward surprises. Lane made these remarks during a speech in Dublin.

#Ecb #InterestRates #Inflation #Demand #PhilipLane

https://www.investing.com/news/economy-news/ecbs-lane-says-cuts-will-depend-on-underlying-inflation-demand-3457744 

 HashKey Global Launchpool, the world's first regulated platform for pledge to earn new tokens, is now live
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HashKey Global has launched LaunchPool, the world's first regulated platform for pledge to earn new tokens. The platform allows users to pledge their existing cryptocurrencies to the pool and redeem tokens at any time. The first project on the platform is Polyhedra Network (ZK), which offers users approximately 325,000 ZK tokens as rewards. HashKey Global Launchpool is the first platform of its kind among globally licensed exchanges to offer pledging for new coins. The platform provides investor asset protection and compliance measures such as AML, KYC, and KYT. The launch event runs from May 30th to June 4th, 2024.

#Cryptocurrency #HashkeyGlobal #Launchpool #PolyhedraNetwork

https://www.investing.com/news/cryptocurrency-news/hashkey-global-launchpool-the-worlds-first-regulated-platform-for-pledge-to-earn-new-tokens-is-now-live-3457707 

 Trump tweets support for crypto ahead of Libertarian convention speech
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Former President Donald Trump tweeted his support for cryptocurrency ahead of his scheduled appearance at the Libertarian National Convention. In his tweet, Trump expressed his positive and open-minded stance towards cryptocurrency companies and the industry as a whole, contrasting it with President Biden's alleged desire for the industry to 'die a slow and painful death.' Trump's campaign has also set up a fundraising page that accepts cryptocurrency donations, aiming to create a 'crypto army' in preparation for the upcoming election. This marks a significant shift in Trump's views on cryptocurrency, as he previously expressed doubts and called for heavy regulation. The tweet comes as Trump seeks to draw voters away from third-party candidate Robert F. Kennedy Jr., who is known for his pro-crypto and anti-regulation views.

#DonaldTrump #Cryptocurrency #LibertarianNationalConvention #Fundraising #Election

https://www.investing.com/news/cryptocurrency-news/trump-tweets-support-for-crypto-ahead-of-libertarian-convention-speech-3457711 

 Shares nudge higher as US, EU inflation data loom
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World shares firmed on Monday as investors braced for a busy run of inflation data that could set the scene for a European rate cut as soon as next week and a U.S. policy easing within just a few months. MSCI's broadest index of stocks gained 0.2%, having slipped 0.38% last week and just shy of an all-time peak of over 796. Median forecasts expect this week will see a rise of 0.3% in April according to a Reuters poll, keeping the annual pace at 2.8%, with risks on the downside. Figures for inflation in the euro zone are also due on Friday and economists believe an expected tick up to 2.5% should not stop the European Central Bank from easing policy next week.

#Shares #InflationData #RateCut #UsPolicyEasing #Msci #EuroZone #EuropeanCentralBank

https://www.investing.com/news/stock-market-news/asia-shares-inch-higher-before-inflation-tests-3457506 

 France looks to elusive EU capital market to fix start-up funding
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France is pushing for the integration of the European Union's fragmented capital markets to provide funding for its start-up sector. Currently, European start-ups rely on U.S. venture capital due to the lack of big investors at home. The French government is urging the European Commission to prioritize the revival of plans for an EU capital market union. The goal is to harmonize financial regulations and supervision across the 27-nation bloc. The French Finance Minister warns that without progress, start-ups like Mistral AI will seek funding elsewhere. Another solution proposed is to involve public sector investors, such as the European Investment Bank, in financing start-ups. A unified market would also make it more attractive for European venture capital firms to float companies in Europe rather than the United States.

#France #Eu #CapitalMarket #StartupFunding #VentureCapital

https://www.investing.com/news/economy-news/france-looks-to-elusive-eu-capital-market-to-fix-startup-funding-3457585 

 Texas daily power demand sets record for May consumption
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Daily power consumption in Texas set a record for the month of May on Sunday, reaching a preliminary 73,756 megawatts (MW), surpassing the previous high of 73,749 MW set on Saturday. The Electric Reliability Council of Texas (ERCOT) expects electricity consumption to reach an all-time high this summer due to economic and population growth, as well as increased demand from data centers, artificial intelligence, and cryptocurrency mining. The grid's all-time peak was 85,508 MW on August 10, 2023. Power prices have increased, with day-ahead power for one hour on Sunday evening rising to $1,518 per MWh from $42.19 per MWh for the same hour on Saturday. ERCOT projects that power usage will break the new May daily record on Monday, with a peak above 76,500 MW. High temperatures in Houston, Texas are expected to reach 93 degrees Fahrenheit (34 degrees Celsius) on Sunday and rise to 99 F (37 C) on Memorial Day. One megawatt can usually power about 800 homes on a normal day but as few as 250 on a hot summer day in Texas.

#Texas #PowerDemand #ElectricityConsumption #Ercot #Record #MayConsumption

https://www.investing.com/news/stock-market-news/texas-daily-power-demand-sets-record-for-may-consumption-3457521