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.
NYU professor Aswath Damodaran warns AI's massive, debt-funded infrastructure spending poses a greater risk than the dot-com crash due to its reliance on physical assets. India faces potential impacts on foreign investment and jobs.
A new survey reveals Gen Z pet owners spend significantly more annually ($6,103) than Boomers ($2,454), with many viewing pets as children and willing to sell organs in emergencies. Pet spending reached $158 billion in 2025, driven by rising vet bills and private equity investment.
Hong Kong will host the Hyrox World Championships in June next year, attracting high-spending visitors and leveraging proximity to the mainland China market. Experts anticipate a boost in tourism from dedicated athletes.
Former Ethereum Foundation contributor Trenton Van Epps warns of an impending funding crisis for Ethereum's core development, estimating a need for $30 million annually. This follows spending cuts and program expirations, alongside departures from the Foundation.
South Sudan's Ministry of Foreign Affairs announced the repatriation of Tuan Phan, a 44-year-old US citizen. Phan arrived in Juba in July 2025 after a Supreme Court ruling greenlit his removal. He had served his prison sentence in the US for criminal convictions before being taken into custody last year.
The U.S. has launched an investigation into Germany's pharma policies, citing "persistent underpayment" for medicines as Germany seeks to control rising healthcare costs. U.S. Trade Representative Jamieson Greer expressed concern over proposed legislation to reduce drug spending, calling it a "serious step backwards."
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.
US drivers are seeing relief as national average gas prices dropped below $4 a gallon on Thursday, driven by falling oil prices and a tentative peace agreement between the US and Iran. Despite the decrease, prices remain higher than pre-war levels.
Social media platforms, particularly Telegram groups, are luring Hong Kong's youth into illegal betting activities, offering tips and higher odds than legal channels. Ken Chan's experience highlights how these platforms encourage increased gambling.
Taiwan is significantly boosting domestic military drone production, allocating $6.6 billion over six years to acquire over 208,000 coastal attack drones and other unmanned systems. This initiative aims to deter potential Chinese invasion and bolster Taiwanese manufacturers, who are forming international partnerships to export drones to the US and other markets, despite competition from China's DJI.
US Defense Secretary Pete Hegseth announced a review of US military presence in Europe, linking future troop numbers and NATO dues to allies' defense spending. He criticized "free riding" and "shameful" inaction on using airbases for strikes against Iran, threatening force reductions in low-spending nations.
Stephen Feinberg, deputy undersecretary of defense, wields significant power in Trump's Pentagon, overshadowing Defense Secretary Pete Hegseth. Feinberg, founder of Cerberus Capital Management, has unprecedented control over procurement and invests taxpayer dollars in defense companies, raising conflict of interest concerns.
Karamo Brown has launched Kē, a wellness app offering personalized fitness and nutrition plans, guided meditations, and a community section. A key feature is "AI Karamo," a digital clone of Brown powered by Delphi, which users can interact with for real-time advice.
Karamo Brown has launched Kē, a wellness app offering personalized fitness and nutrition plans, guided meditations, and a community forum. A key feature is 'AI Karamo,' a digital clone of Brown powered by Delphi, providing real-time advice in his voice.
US Defense Secretary Pete Hegseth criticized allies for underfunding NATO and relying too heavily on the US, announcing a review of American forces in Europe. Britain's defense plan is delayed, and allies are reluctant to support US actions in Iran.
US Defense Secretary Pete Hegseth criticized NATO allies for insufficient military spending and lack of support for the US war in Iran, threatening troop withdrawal and reduced contributions. NATO Secretary General Mark Rutte expressed confidence in alliance resilience, while Germany's Defense Minister requested more time to adjust.
A US official stated that allies' failure to meet NATO spending targets puts American troops at risk and could lead to reduced US contributions to NATO's organizational costs.
UK Defence Secretary Dan Jarvis met NATO allies in Brussels without a finalized long-term military spending plan. His predecessor warned the plan falls short, while defense chiefs highlighted the need for more funding. NATO Secretary General Mark Rutte urged members to present credible plans for increased defense spending.
EU leaders meet in Brussels for a two-day summit addressing competitiveness, trade, Ukraine, the Middle East, defense, and the bloc's next seven-year budget. The summit is the first since leadership changes in Hungary and Bulgaria.
India is negotiating with the World Bank and ADB for approximately $2.5 billion in loans to fund urban infrastructure and job creation. This comes amid a wider budget gap due to increased subsidies for oil prices affected by Middle East conflict.
US War Secretary Pete Hegseth criticized NATO allies for insufficient defense spending and reluctance to support US actions in Iran, announcing a review of US forces in Europe and threatening to tie US contributions to allies meeting spending targets.
Tesco CEO Ken Murphy stated that rainy spring weather significantly impacted UK grocery sales more than the World Cup or Middle East conflict. Sales growth slowed to 1.8% in Q1, below expectations, with sunshine boosting consumer spending and football wins causing only temporary, smaller sales spikes.
Hong Kong issued its first black rainstorm warning of the day at 12:55 PM on Thursday, prompting the suspension of afternoon classes. The Hong Kong Observatory warned of flooding risks as very heavy rain exceeded 70 mm per hour.
