Finance news

Migration: Hegseth speaks of “invasion” on Europe’s coasts during the D-Day speech

During a speech to commemorate the Allied landings in Normandy, US Defense Secretary Hegseth draws a wide range - and joins in criticism from US Vice President J.D. Vance.

Iran War: US Military: Two Iranian drones shot down

Are Iranian drones threatening shipping in the Strait of Hormuz area? At least that's how the US military presents it - and acts.

Aviation: US low-cost airline Breeze Airways is targeting an IPO in 2027

Breeze Airways is positioning itself in the USA as a provider of alternative flight routes beyond the major hubs. JetBlue founder David Neeleman is behind the airline.

Trump to meet AI leaders to discuss US investment in their companies

US President Donald Trump is planning to meet the bosses of some of the country's most notable artificial intelligence (AI) companies to discuss the government taking a financial stake in their future. Speaking on Air Force One, Trump said the goal of the US government investing in AI companies was to "create almost a partnership with the American public". He expects to meet leaders of major AI companies at the White House - likely next week. Although the president did not name specific companie

Missing US student found dead in Japan

An ⁠American student ⁠who disappeared while on ⁠a family holiday in Japan was found dead outside Kyoto, his mother wrote in a social media post on Saturday. The body of James ‌Higginbotham, 20, was discovered in a mountainous area by a volunteer search-and-rescue group, Nancy Higginbotham wrote. A cause of death and further details were not immediately available. “Our family is heartbroken,” she said. “The grief we feel is ⁠impossible to put into words.” Higginbotham, an Alabama resident ‌and an

World Cup: Where are the football tourists?

FIFA is hailing the upcoming World Cup as an economic blessing for the host countries. However, the hotel industry has so far been disillusioned - and blames the US President for this.

Subaru weighs selling US-made Ascent SUV in Japan

US strikes Iranian sites after Iran launches drones, in latest Gulf flare-up

U.S. forces struck Iranian coastal radar sites on Saturday after shooting down drones launched by Iran toward the Strait of Hormuz, the U.S. military said.

In D-Day speech, Hegseth urges Europe to counter ‘invasion’ of migrants

US Defence Secretary Pete Hegseth on Saturday urged Europe to counter what he termed an “invasion” of its coastline by migration, as he marked the 82nd anniversary of the World War II D-Day landings in northern France. Hegseth also called on European countries to do more to contribute to their defence, in a speech at the American military cemetery in Colleville-sur-mer in Normandy. He was however conspicuously set to skip the main international ceremony marking the anniversary of the landings,..

Pope Leo urges end to ‘polarising narratives’ on Spain visit

Pope Leo on Saturday urged global leaders to avoid dividing their electorates with “sterile simplifications” to gain popularity and called on them to listen to the world’s cries for peace, in a forceful speech opening a week-long tour of Spain. Leo, who has angered US President Donald Trump by criticising his anti-immigration policies and the Iran war, will meet homeless people in Madrid and migrants in the Canary Islands during a visit he has said he hopes will set an example to the world about

+++ Iran War +++: Pakistan's Interior Minister travels to Tehran as a mediator

Bahrain condemns Iranian attacks +++ Israel calls on residents in southern Lebanon to evacuate +++ US military: Iran's missile attacks on Kuwait and Bahrain repelled +++ The news blog.

+++ USA +++: FBI fires employees after memo on Catholic extremism

USA wants to accelerate the use of AI for national security +++ Trump wants to reduce the size of US secret services +++ Convicted Capitol stormer now works for the Pentagon +++ The news blog.

Dangerous virus: Ebola patient released from Berlin Charité

A US doctor became infected with the dangerous Ebola virus. He was treated under special conditions at the Berlin Charité - with success.

Beijing deploys new missiles matching Patriots opposite Taiwan

Mainland China has equipped frontline troops facing Taiwan with a new missile, state media reported. The missile is believed to be an HQ-16F, which has comparable qualities to the US Patriot PAC2 and 3 systems. On Friday, state broadcaster CCTV aired footage of the 73rd Group Army’s first operational and live-fire assessment of the missile in the Gobi Desert. The unit, which forms part of the People’s Liberation Army Eastern Theatre Command, had travelled thousands of kilometres from its base in

Hong Kong saves HK$69 million in first month after HK$2 fare scheme revamp

Changes to Hong Kong’s public transport subsidy scheme saved the government HK$69 million (US$8.8 million) in the first month, with fewer elderly and disabled commuters taking expensive long-haul routes for short trips, the welfare minister has said. Secretary for Labour and Welfare Chris Sun Yuk-han said on Saturday that, following revisions to the concessionary fare scheme that took effect on April 3, the average government subsidy for trips costing more than HK$10 fell from HK$4.90 in March..

Living with stocks: self-filleting for advanced users

The US conglomerate Honeywell is dismantling itself – successfully. A division that is soon to go public is particularly interesting for investors.

Trump has squeezed China in Cuba, Panama and Venezuela. Is Nicaragua next?

US President Donald Trump’s drive to reassert US supremacy in Latin America has already squeezed China’s interests in Cuba, Panama and Venezuela. Now, Nicaragua could be shaping up as the next economic battleground between the two powers, a scholar has warned. The American leader has yet to target Nicaragua since returning to office, but that could change if China revives an ambitious project to build a canal cutting across the country to connect the Pacific Ocean and Caribbean Sea, said Zhang..

Markets: Interest rate concerns trigger a wave of sales on Wall Street

A surprisingly strong US jobs report is fueling new interest rate concerns and triggering a sell-off on Wall Street. Tech stocks are collapsing and the DAX is also coming under pressure.

What does Washington’s latest AI chip guidance mean for Chinese tech firms?

China’s Ministry of Commerce has lashed out at Washington’s latest guidance on advanced artificial intelligence chip exports, accusing the United States of abusing export controls and disrupting the global semiconductor supply chain. But trade lawyers and industry insiders said the actual fallout over the new document could be far more limited than the geopolitical fireworks suggest. The US Bureau of Industry and Security (BIS) issued guidance on May 31, stating licences would be required to...

Russia downs 376 Ukrainian drones overnight on final day of St Petersburg forum

Russia said on Saturday it intercepted hundreds of Ukrainian drones including near St Petersburg, where Moscow is hosting a major economic forum, as Ukraine reported at least three people killed by Russian strikes. Moscow and Kyiv have intensified drone strikes on each other in recent months as US-led diplomatic efforts to end the war, now in its fifth year, remain stalled over the conflict in the Middle East. The St Petersburg International Economic Forum (SPIEF) – once dubbed “Russia’s Davos”.

Past failures haunt Quad’s US$20 billion critical minerals push

The Quad’s newly announced US$20 billion critical minerals framework aims to loosen China’s near-monopoly on the materials that power modern defence, technology and clean energy industries. But analysts say its success will depend on the ability of Australia, the United States, India and Japan – the Quadrilateral Security Dialogue’s four members – to move beyond policy declarations and deliver measurable outcomes. The initiative, announced after a meeting of Quad foreign ministers on May 27, has

+++ Iran War +++: US military: Iran's missile attacks on Kuwait and Bahrain repelled

USA defends itself against drones and attacks targets in Iran +++ Media report: USA shoots down Iranian drones over the Strait of Hormuz +++ Trump: Iran still has 21 to 22 percent of its missiles +++ The news blog.

Does Pete Hegseth’s volte-face on China reflect an America in decline?

Listening to US Defence Secretary Pete Hegseth at the recently concluded Shangri-La Dialogue in Singapore, I thought of the iconic Sichuan opera act of face-changing, where performers switch masks in an instant. Last year, Hegseth’s speech at the event was filled with blatant attacks on China. This year, he put on a completely different face, declaring that: “Under President Trump’s leadership, relations between the United States and China are better than they’ve been in many years.” Why this...

Don’t dream it’s over: mainland students rethink Hong Kong over costs, culture

Weeks before mainland Chinese student Carol Chen graduated from Baptist University in Hong Kong in July, the 22-year-old did the math and weighed the cost of living in the city against returning home. Renting a room in the city would consume around half of the HK$20,000 (US$2,552) starting salary she expected as a junior data analyst. “If I go back to Shanghai, I will only need to worry about daily expenses,” said Chen, a maths and statistics graduate. Language barriers compounded the problem...

US strikes Iranian radar sites after drone shootdown in Strait of Hormuz

US forces struck Iranian coastal radar sites on Saturday after shooting down drones launched by Iran towards the Strait of Hormuz, the US military said, in the latest escalation complicating efforts to end the war between the two countries. The US military believed the four Iranian drones were targeting regional maritime traffic, an official said. US Central Command said on social media that the US then struck Iran’s surveillance ‌sites in Goruk and Qeshm Island, which are both on the Strait of.

Targeting US$610 billion longevity market, biotech firms race to reverse ageing

For Beijing-based METiS TechBio CEO Lai Tsai-ta, ageing is comparable to bugs building up in a complex software system – it happens once errors begin to accumulate in the genetic code of human cells, such as their DNA sequences. “Those errors can be reprogrammed. It becomes possible to use AI to read, rewrite and reverse cells, or at least slow the ageing process,” Lai said in an interview with the South China Morning Post. The process could begin by fixing “immune cells, such as T cells, as...

Putin says no reason to meet Ukraine’s Zelensky, calls his letter ‘rude’

Russian President Vladimir Putin said on Friday he currently saw no reason to meet Volodymyr Zelensky after the Ukrainian president published an open letter proposing they hold face-to-face talks to agree an end to a war now in its fifth year. In his letter, which was sent to other countries, including the US, Zelensky said most Russians ‌had grown tired of Ukrainian missile and drone attacks, high inflation and fuel shortages, and were ready for peace. He also suggested that continuing the war.

Iran War: Trump estimates: Iran still has a fifth of its missiles

President Trump always praises the successes of US strikes against Iran. Tehran still has missiles. His estimate of the remaining arsenal contrasts with other figures.

Energy now a focus of US-China contest of the century

Given that control over energy reinforces superpower status, the contest of the century has morphed into an intense rivalry between China, a rising “electrostate”, and the United States, the world’s hydrocarbon hegemon safeguarding its position. China recognises that electricity drives its economy. Despite being a major producer of coal, crude oil and natural gas, China remains an importer of these hydrocarbons. However, with strategic patience, through its five-year plans, the country has been.

Business ticker: Strong labor market report causes sell-off on Wall Street

Tech stock prices in particular are plummeting +++ US fast food restaurant chain Taco Bell is coming to Germany +++ No take-off for SpaceX in the S&P 500 +++ C.H.Beck-Verlag takes over majority in dtv +++ News in the company live blog.