US President Donald Trump's visit to China this week comes as the rivalry between the world's two largest economies is increasingly shaped by economic competition, technological leadership and global influence.
In 2025, nearly one million people worldwide joined the ranks of US dollar millionaires, with the US leading in absolute numbers. Eastern European countries, particularly Lithuania, saw the fastest percentage growth in new millionaires.
ECB President Christine Lagarde stated the digital euro will complement, not replace, cash and is not designed for payment tracing. The European Parliament approved its negotiating mandate, moving closer to adoption by end-2026. Lagarde emphasized strengthening Europe's payment autonomy.
Spain's Finance Minister Carlos Cuerpo proposed a new "European Sovereign Facility" for joint EU borrowing to strengthen the euro's international role amid geopolitical uncertainty. The mechanism aims to centralize debt, reduce costs, and build a €5 trillion stock within five years, though some member states oppose further joint debt.
The European Commission has initiated an investigation into Chinese Peking duck imports following complaints from EU producers about unfairly low prices and alleged subsidies. This move escalates trade tensions between the EU and China, potentially impacting ongoing negotiations.
Volkswagen's management faces potential major conflict with unions over reported plans to cut up to 100,000 jobs and close four factories. IG Metall warns of strong opposition to restructuring aimed at addressing competition, EV margins, and US tariffs.
South Korean chipmaker SK hynix is set to raise approximately $28 billion on Wall Street via ADRs, a sum surpassed only by SpaceX. The listing aims to improve valuation and fund new facilities amidst a booming AI memory market, despite cyclical industry risks.
