European Union trade officials are increasingly accepting a 10% baseline on reciprocal tariffs as the new reality in negotiations with the United States. Multiple sources close to the matter confirm that U.S. negotiators, under the leadership of Commerce Secretary Howard Lutnick, have made it clear that any final deal must include a floor tariff of no less than 10% on EU goods entering the U.S. market.
In a move underscoring the deepening intersection of clean energy and cloud computing, Amazon.com Inc. $AMZN and German utility RWE AG $RWE.DE announced a strategic framework agreement on Thursday. The deal will see RWE supply renewable electricity to Amazon in exchange for access to the tech giant’s cloud services, including AI and data analytics platforms.
In a landmark announcement on Tuesday, IBM $IBM introduced Starling, a quantum computer designed to overcome the critical challenge of error correction that has limited the practical deployment of quantum systems. The company claims that Starling will be the world’s first large-scale fault-tolerant quantum computer, operational by 2029.
Oil prices experienced a modest decline on Friday but were poised for their first weekly gain in three weeks following the resumption of trade negotiations between U.S. President Donald Trump and Chinese President Xi Jinping. This development rekindled hopes for increased demand growth from the world’s two largest economies, underpinning positive sentiment in global energy markets.
Toyota Motor Corp. $7203.T, the world’s largest carmaker by volume, has announced a planned acquisition of its long-time affiliate and key supplier Toyota Industries Corp. $6201.T in a deal valued at 4.7 trillion yen (approximately USD 33 billion). Despite the strategic significance of the move, the market responded negatively.
Alphabet Inc. $GOOGL, the parent company of Google, announced on Saturday its intention to appeal a federal antitrust ruling that challenged its market behavior in online search and digital advertising. The decision follows a court hearing where U.S. District Judge Amit Mehta proposed less stringent remedies than the 10-year oversight regime originally sought by regulators.
Japan, known as one of the world’s most heavily indebted advanced economies, unexpectedly acted as a stabilizing force in global bond markets this week. Reports on Tuesday indicated that Japan’s Ministry of Finance (MOF) is considering reducing the issuance of ultra-long government bonds. This news sparked a positive reaction across international bond markets — from Japan and South Korea to the UK and the US — where bond prices rose and yields declined. The development paused a multi-week sell-off driven by investors’ anticipation of higher inflation and increased government spending linked to the trade and tax policies under US President Donald Trump.
The euro (EUR) surged to its highest level in a month against the U.S. dollar (USD) on Monday, following a notable shift in U.S. trade policy. Former U.S. President Donald Trump withdrew a previously stated threat to impose 50% tariffs on European Union imports starting June 1. The policy reversal came after EU officials requested additional time to pursue a more favorable trade agreement.
OpenAI has announced the acquisition of io Products, a startup founded by renowned designer Jony Ive, for $6.5 billion. This strategic purchase comes alongside OpenAI appointing Ive as its Creative Director to spearhead the development of next-generation hardware tailored specifically for generative artificial intelligence (AI) applications. Ive’s design firm, LoveFrom, has collaborated with OpenAI for over two years on AI-driven device innovation, addressing a critical market gap where many startups have struggled due to demanding computational requirements.
On Wednesday, Schloss Bangalore $SWA.DE, the parent company of the prestigious Indian luxury hotel chain The Leela, announced a strategic downsizing of its initial public offering (IPO) size by 30%. The move, motivated in part by the company’s efforts to reduce debt burden, sets the stage for a market valuation of up to $1.7 billion at the upper price band.
The Qatar Investment Authority (QIA), one of the world’s largest sovereign wealth funds, announced plans to at least double its annual investments in the United States over the next decade. This pledge follows a broader commitment to inject $500 billion USD into the U.S. economy within the same timeframe, marking a significant deepening of economic ties between Washington and Doha.
China's electric vehicle revolution may soon extend far beyond city streets. According to recent remarks by Zeng Yuqun, Chairman of battery giant Contemporary Amperex Technology Co. Limited $300750.SZ, electric heavy-duty trucks could account for 50% of all new truck sales in China by 2028, up from an estimated 10% in 2024. These comments, made during a presentation on battery-swapping infrastructure for commercial freight transport and reported by government-affiliated outlet Jiemian, point to a dramatic shift in one of the most fuel-intensive sectors of the economy.
