China's electric vehicle industry is being examined as a potential blueprint for developing countries to foster their own domestic champions. Electrification has lowered traditional entry barriers, and China's vast supply chain offers a faster foothold for aspiring carmakers.
China's economy grew 4.3% in Q2, its slowest pace in over three years, missing forecasts. Despite strong exports driven by AI and EVs, domestic spending and investment lagged, raising concerns about economic imbalance and long-term job creation.
US economic data, including retail sales and inflation reports, presents a mixed picture. While headline inflation fell due to cheaper energy and retail sales appeared soft, underlying consumer spending remains steady. This ambiguity complicates the Federal Reserve's interest rate decisions and impacts assets like Bitcoin, as real economic strength is questioned.
Saudi Arabia dramatically cut crude oil prices by $11 a barrel for August, the steepest drop in 26 years, signaling intense competition among producers. This move, following a previous $6 cut, brings oil prices to pre-Feb 28 levels and is expected to benefit India by reducing refiner losses and government subsidy bills.
US consumer spending increased by 0.3% in May, defying rising inflation. Prices rose 4.1% year-on-year, the fastest in over three years, yet consumers continued to spend, potentially pressuring the Federal Reserve on interest rates.
China's annual "618" online shopping festival saw a sharp slowdown in sales growth to 4% from 15.2% last year, signaling persistent weakness in consumer spending despite strong exports and tech sectors. Retail sales declined in May, and analysts predict continued divergence between high-tech and consumption.
A Jefferies report indicates China's domestic economy struggles with weak consumer spending, property activity, and credit demand, despite robust export growth, particularly in semiconductors. Retail sales declined in May, and consumer confidence fell, signaling persistent challenges.
Elon Musk's one-day wealth gain of $164.8 billion surpassed Warren Buffett's net worth. China's economy shows a two-speed recovery with industrial output rising but consumer spending falling. India sees a surge in tech professionals seeking jobs, while blue-collar roles and civil engineering gain traction. China leads India in university rankings, and India's state subsidies have tripled.
China's economy shows a divergence, with AI-driven chip demand boosting exports and some inflation, while a deepening real estate slump and sluggish consumer spending persist. Investors await May figures, with economists predicting broad stagnation and potential GDP downgrades.
A study by IPAM suggests Portugal could generate up to €945 million from the 2026 FIFA World Cup, even without hosting. The economic impact, driven by digital consumption and fan engagement, depends on the national team's performance, with potential earnings ranging from €378 million to €945 million.
Moody's chief economist Mark Zandi warns the US has days to secure a peace deal with Iran or risk recession due to soaring oil prices. Stalled negotiations and the potential closure of the Strait of Hormuz threaten global energy supplies, with gas prices already high and a potential climb to $5/gallon risking consumer spending collapse.
US inflation rose 3.8% year-over-year in April, the fastest in three years, driven by higher energy prices amid the Iran war. This surge pressures the Fed to potentially hold interest rates unchanged and threatens Trump's economic approval ratings.
This week on Wall Street, investors await Salesforce's earnings report, focusing on AI impact and revenue growth. Costco's results will reveal consumer spending trends and profit margins. Key economic data includes the PCE price index, crucial for inflation outlook and potential Fed rate decisions.
Italian consumer spending fell 2.8% in April compared to April 2025, pushing the year-to-date cumulative figure into negative territory for the first time. The Confimprese-Jakala Observatory attributes this to rising energy prices, widespread inflation, and economic uncertainty, impacting discretionary spending.
Ross Stores and TJX report strong sales driven by increased transactions across all income levels, indicating consumers are seeking value. Walmart warns of consumer stress due to high gas prices, while Deckers Outdoor notes healthy spending on premium brands. This mixed picture impacts Fed rate decisions.
Italian consumer spending fell 2.8% in April, with the first quarter also showing a decline. Lombardy saw a significant 3.9% drop, attributed to family caution. Apparel and accessories remain resilient, while restaurants and 'other retail' experienced significant decreases.
Japan's real GDP grew at an annualized rate of 2.1% in Q1 2026, driven by consumer spending. Department store sales rose 2.0% year-on-year, boosted by stock market gains. However, concerns linger over the impact of Middle East tensions on oil prices and the economy from April onwards.
Retail group with 4,800 stores worldwide expects drop in profits this year amid ‘muted market’Business live – latest updatesThe sports fashion retailer JD has said that profits will fall this year amid a “muted market” hit by concerns about the Middle East conflict and weaker spending by young people facing rising unemployment.The company, which runs 4,800 stores worldwide including the JD, Blacks and Millets chains in the UK, said it expected profits of between £750m and £850m in the year ahead, after reporting £852m in the year to the end of January. Continue reading...
Exclusive: Documents show Modella Capital, which bought the chain last year, is so far owed £2.9m in royalty feesThe investment company that owns the former WH Smith high street stores is charging the retailer millions of pounds in licence fees for the right to use its widely derided TG Jones name, the Guardian can reveal.Modella Capital – which bought the chain from WH Smith’s parent company last year – on Wednesday blamed weak consumer spending as it laid out a restructuring plan that could shut 150 of its 450 shops. It also said “the forced name change from WH Smith has also negatively impacted consumer awareness”. Continue reading...
Retail group with 4,800 stores worldwide expects drop in profits this year amid ‘muted market’Business live – latest updatesThe sports fashion retailer JD has warned that profits will fall this year amid a “muted market” hit by weaker spending by young people and concerns about the Middle East conflict.The company, which runs 4,800 stores worldwide including the JD, Blacks and Millets chains in the UK, said it expected profits of between £750m and £850m in the year ahead, after reporting £852m in the year to the end of January. Continue reading...
Retail group with 4,800 stores worldwide expects drop in profits this year amid ‘muted market’Business live – latest updatesThe sports fashion retailer JD has warned that profits will fall this year amid a “muted market” hit by weaker spending by young people and concerns about the Middle East conflict.The company, which runs 4,800 stores worldwide including the JD, Blacks and Millets chains in the UK, said it expected profits of between £750m and £850m in the year ahead, after reporting £852m in the year to the end of January. Continue reading...
Modella Capital, which rebranded shops as TG Jones, unveils major restructure and is seeking rent holidaysUp to 150 former WH Smith stores are likely to close, putting thousands of jobs at risk under a radical restructuring plan by their new owner, which had rebranded the shops as TG Jones.The investment company Modella Capital, which bought WH Smith’s chain of 480 high street stores for £76m last year, blamed “weak consumer spending” as it set out the plan to landlords on Wednesday. Continue reading...
New owner Modella Capital, which rebranded shops to TG Jones, blames weak consumer spending Dozens of former WH Smith stores are likely to close, putting thousands of jobs at risk under a radical restructuring plan by their new owner, which had rebranded the shops to TG Jones,The investment company Modella Capital, which bought WH Smith’s chain of 480 high street stores for £76m last year, blamed “weak consumer spending” as it set out the plan to landlords on Wednesday. Continue reading...
Remittance giant Western Union’s USDPT token will power cross-border payments and a consumer spending product launching in 40+ countries.
