Finance news

Kenya health minister says US Ebola quarantine centre will proceed despite deadly protests

Kenya’s health minister said on Wednesday that the US-funded quarantine centre would proceed, days after deadly protests erupted over the project. The US-built facility at Kenya’s Laikipia Air Base was due to open last week, according to US officials, to quarantine Americans arriving from the Democratic Republic of the Congo, which is battling a major Ebola outbreak. But it has been temporarily blocked by a court order, and triggered protests on Monday that killed two people, according to a...

Because of the GKV law: Boehringer Ingelheim and Eli Lilly stop investing millions in Germany

The Palatinate family business does not want to spend almost a billion euros in Germany as planned. The reason is the government's planned health insurance reform. US rival Eli Lilly is even halving its billion-dollar investment in Germany.

Gulf tensions escalate as Iran hits Kuwait, US strikes near Hormuz

CENTCOM said it had carried out a new round of defensive strikes in southern Iran, while an Iranian drone attack on the Kuwait airport killed one person.

Pharma: Eli Lilly halves planned billion-dollar investment in Germany

The US pharmaceutical company is drawing consequences from the German health savings plans. The location is scheduled to open in 2027 – but only with half capacity and staff, says boss Dave Ricks.

Wall Street: US stock markets defy new risks – AI stocks continue to rise

The hope of large AI IPOs continues to act as an antidote to all geopolitical price risks. Even new tariff plans from the USA have little impact on the trend.

US Crude Oil Inventories in Freefall: EIA

Crude oil inventories in the United States decreased by 8.0 million barrels during the week ending May 29, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The decrease brings commercial stockpiles to 433.7 million barrels, according to government data, which is now 3% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories saw a dr

Military: “Unhealthy dependency” – US general sees Europeans as responsible for NATO

The USA apparently has far-reaching plans to withdraw equipment and troops from NATO structures. A high-ranking US military official is now revealing details.

The US is delaying weapon sales to allies. Will there be long-term impact?

A number of factors may “lead even long-standing allies and partners to question whether or not it’s wise to continue to depend on the United States for essential defense articles and services,” one analyst said.

Technology: EU Commission: Save independence in chips and clouds

Dangerous addiction? Important data is held by US cloud providers, Europe's auto industry relies on chips from China. Brussels suggests how digital unbundling could work.

Iran war: Dozens injured in Kuwait after new escalation in the Gulf

Tehran says it is retaliating after a US attack on an oil tanker. Despite the ceasefire in force, the situation between the USA and Iran is escalating again - with dozens of people injured.

Middle East: New attacks between USA and Iran

The USA says it thwarted Iranian drone and missile attacks in the Gulf region on Wednesday night. In response, the US military attacked the Iranian island of Keshm near the Strait of Hormuz.

Digital sovereignty: How Brussels wants to make the EU independent of US clouds

Without clouds and IT services from the USA and chips from China, the EU is lost. The Commission therefore wants to strengthen technological sovereignty with two legislative proposals.

Brussels says new US forced-labour tariffs are unjustified

'Washington is desperately searching for new legal grounds to sustain its tariff policy'

BW LPG Sees YoY Increase in Shipping Revenue

'Current earnings continue to be supported by trading inefficiencies and a shortage of available vessels on the US-Far East trade'.

China’s PL-15 missile has downed Rafale jets. Is the PL-16 even more powerful?

China’s latest air-to-air missile, the PL-16, could have a range of more than 300km (186 miles) thanks to a variable-thrust rocket motor, according to an unverified image being circulated online. It comes weeks after the first image emerged of the US Air Force’s new AIM-260 air-to-air missile – a joint advanced tactical missile with a range of at least 193km (120 miles). It is not clear when the AIM-260 will enter service, but US officials have cited China’s PL-15 missile as a key driver for the

A Cyber Force budget would require at least $10 billion, new commission report says

The Commission on US Cyber Force Generation released its report outlining what a new military service could look like.

USA: No experience, but loyal – Trump makes “Little Trump” intelligence coordinator

Bill Pulte is considered a loyal follower of the US President and publicly attacked Fed Governor Lisa Cook. Senior Republicans are skeptical.

USA: Trump administration confirms end of billion-dollar fund for alleged victims of the justice system

US Attorney General Blance announced the end of the controversial fund on Tuesday. This was intended to compensate people who were allegedly victims of state abuse of power - including participants in the storming of the Capitol in January 2021.

Tariffs: USA threatens India with additional tariffs because of forced labor - EU is also in its sights

A US investigation accuses numerous countries of forced labor. These failures by trading partners are “unacceptable”.

DeepSeek nears US$7b haul in first-ever funding round, with backing from Tencent, CATL

Chinese artificial intelligence start-up DeepSeek is finalising its first external fundraising round, securing over 50 billion yuan (US$7.4 billion) at a valuation of just under US$60 billion, according to people familiar with the matter – marking a six-fold leap from its US$10 billion valuation in April. The blockbuster round highlights intensifying global competition and a shifting strategy for the AI breakout star, which had previously resisted external capital. Market-oriented investors and.

China among top gold buyers as bullion overtakes US Treasuries in global reserves: ECB

China is one of the world’s largest buyers of gold as central banks shift towards the precious metal, which has overtaken US Treasuries to become the world’s top reserve asset amid higher valuations and its appeal as a geopolitical hedge, the European Central Bank said. The world’s second-largest economy was the fourth-largest per-country buyer of gold in 2025 after Poland, Kazakhstan and Brazil, purchasing about 25 tonnes, the ECB stated. It estimated that China had bought more than 350 tonnes.

Mechanical engineering: US financial investor Triton takes over drive manufacturer Flender

The US investor Carlyle is selling the drive technology specialist to the investment company Triton. The purchase price was not disclosed; closing is scheduled for the fourth quarter.

Tesla’s China sales surge to 2026 high, but rivals crowd the rear-view mirror

Tesla’s Shanghai Gigafactory recorded its strongest monthly deliveries of the year in May as a broader recovery in China’s electric vehicle market gathered pace, although the US carmaker is likely to face intensifying competition from domestic rivals launching a wave of new models. The factory in Shanghai’s Lingang free-trade zone delivered 85,982 Model 3 and Model Y vehicles last month, up 39.4 per cent from a year earlier and 8.2 per cent from April, according to Tesla China. The figure...

Tensions Broil Again as Iran Hits US Mideast Allies

U.S. forces intercepted Iranian ballistic missiles and drones aimed at neighboring Middle East countries and struck a command center in the Islamic Republic in response - the latest flare-up to test a fragile ceasefire.

Auto industry: The mood in the German auto industry is improving

Car manufacturers see a reason for hope in the tariff agreement with the USA. Nevertheless, US trade remains a source of uncertainty.

Rising seas: Japan makes pitch to Pacific Island nations caught in US-China rivalry

Japan is positioning itself as a partner for Pacific Island nations struggling with rising seas and caught between the US-China rivalry, with Prime Minister Sanae Takaichi pledging on Wednesday to help fight climate change and boost maritime cooperation. Speaking at the inaugural Island States Ocean Summit in Tokyo, Takaichi made a direct pitch to Pacific leaders, presenting Japan as a reliable partner that upholds the rule of law at sea and delivers consistent support. “Japan will continue to..

US floats new tariffs on 60 economies over forced labor, including China

China celebrity dog stolen, sold for US$25 and eaten; owner sues, stymied by weak pet laws

A celebrity dog in central China was stolen and slaughtered, leaving its owner seeking justice but confronting gaps in the country’s legal protections for pets. Guo, a travel influencer from Henan province, raised Chutou, an eight-year-old Border Collie known for his intelligence, energy and gentle temperament. The dog had amassed more than 1.5 million followers on mainland social media after accompanying Guo on years of journeys across China, from snowy mountains to deserts, often guarding him.

US Federal Reserve: New Fed Chairman Warsh plans reforms under the supervision of predecessor Powell

Kevin Warsh announces fundamental changes - and wants to protect the independence of the central bank against political pressure.

Fugitive Hong Kong charity director sued in US over real estate ‘shell game’

A wanted director of a scandal-hit Hong Kong charity who fled the city is facing a sweeping 14-count civil lawsuit in the United States over an alleged multimillion-dollar property scheme that the plaintiff described as a “shell game”. In a complaint for damages and equitable relief seen by the South China Morning Post, developer Joseph Lee Daniell accused Jacob Lam Hay-sing, the founder and director of the now-defunct Hong Kong charity, Christian Zheng Sheng Association, of defrauding him of...