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Treasury official warns of the implications of China's manufacturing focus on global trade /  AFP via Getty Images Treasury official Brad Setser has raised significant concerns regarding the current state of global trade, emphasizing that Chinese President Xi Jinping's industrial policies may pose a greater threat to the global economy than the tariffs imposed by President Donald Trump. Setser, a senior fellow at the Council on Foreign Relations and a deputy assistant secretary at the Treasury Department during the Obama administration, argues that while Trump's aggressive tariff strategy has created unpredictability in trade relations, the real issue lies in China's trade practices and export-driven economy. Setser's perspective highlights the stark imbalance in trade flows between China and its global partners. Over the past six years, China’s imports of manufactured goods have barely increased, growing by an average of only $15 billion annually after adjusting f...

Five Guys UK and Europe CEO warns of negative effects on expansion plans due to tax hikes The chief executive of Five Guys in the UK and Europe, John Eckbert, has expressed grave concerns regarding the financial implications of Rachel Reeves's recent tax increase. He warned that the upcoming rise in employers’ National Insurance (NI) contributions will significantly hinder his company's growth plans, echoing widespread apprehension among hospitality leaders about the adverse effects of the latest Budget on the sector. Eckbert revealed that Five Guys is set to incur a £4 million loss due to the tax changes set to take effect in April. This financial strain will not only slow the company's expansion plans but also result in fewer job opportunities. He stated, “Consider how many new locations we could open with an additional £4 million. This tax hike restricts our ability to invest and grow. Each new restaurant generates between 50 to 75 jobs, along with approximately £1 mill...

Investors Turn to Gold as Safe Haven Amid Economic Uncertainty Gold is poised to secure its eighth consecutive weekly gain as demand for the safe-haven asset rises. The impetus for this surge comes from concerns over tariffs and a significant price discrepancy between the United States and London, which has driven an increase in shipments of physical gold bars to New York. On the latest trading day, gold futures were seen hovering around $2,950, slightly retreating from their all-time high achieved earlier, while the spot price in London was approximately $2,930 per ounce. Year to date, gold prices have surged nearly 11%, marking the 11th record high of 2025 earlier this week. This upward price movement is largely attributed to persistent central bank purchasing, ongoing geopolitical tensions, and uncertainties surrounding potential US tariffs, which may even extend to include precious metals. Earlier comments from President Trump indicated a looming imposition of tariffs on various ...

Record profits and revenue push Latin American e-commerce giant's stock upward Shares of MercadoLibre Inc., the leading e-commerce and fintech company in Latin America, soared to record highs after the firm reported impressive earnings that significantly exceeded analyst expectations. In the fourth quarter, the company posted a net income of $639 million, surpassing the median analyst estimate of $406 million, as indicated by data from Bloomberg. Additionally, MercadoLibre achieved revenue of $6.1 billion for the quarter, beating predictions and resulting in a stock price surge of up to 12.5% at the start of trading in New York. This robust financial performance comes on the heels of a third quarter that disappointed investors, leading to a decline in stock prices due to various profit metrics falling short as a result of heightened investments in logistics and credit services. However, MercadoLibre has made a notable recovery, with its shares rebounding by 37% since the beginning...

Advocates stress the importance of upholding 2025 CO2 targets for the auto industry / Reuters European electric transport organizations are calling on the European Union to firmly reject the automotive industry's efforts to relax the 2025 CO2 emission regulations and associated penalties. In a letter addressed to European Commission President Ursula von der Leyen, two prominent groups emphasized the necessity of adhering to stringent emission targets, which are crucial for accelerating the transition to electric vehicles (EVs) across the continent. The letter, which has been reviewed by Reuters, highlights that any delays in implementing the emission targets or adjustments to the penalty structure could undermine the EU’s competitive stance in the global electric vehicle market. The European car manufacturing sector has been vocal about its difficulties in competing with rising Chinese automakers and the potential impact of tariffs from the United States. As a result, they are adv...

Prada Explores Potential Acquisition of Versace Amidst Financial Challenges / Reuters Italian luxury brand Prada has been granted a unique opportunity to access the financial data of rival Versace, currently owned by Capri Holdings, which has been put up for sale. According to sources familiar with the situation, Prada has a four-week period to assess this information, marking a significant strategic shift for the brand, which has primarily focused on internal growth for the past few decades. This development comes as Capri Holdings, which is collaborating with Barclays to facilitate the sale, aims to divest its Versace and Jimmy Choo brands. Prada's interest in Versace represents a departure from its recent strategy, as it has not engaged in brand acquisitions since the late 1990s. The potential acquisition could allow Prada to reach a different customer demographic that is drawn to Versace's bold and extravagant style, contrasting sharply with Prada's characteristic mini...

Kleiner Perkins Leads Investment as Enterprise-Focused AI Code Tool Gains Traction Codeium, an AI-powered coding assistant designed for enterprise software development, is reportedly securing a fresh funding round at a valuation of approximately $2.85 billion. According to sources familiar with the deal, Kleiner Perkins, a previous investor, is leading the round. This comes just six months after the Silicon Valley-based startup closed a $150 million Series C funding round, which placed its post-money valuation at $1.25 billion. While the exact amount of the new funding remains undisclosed, the company’s rapid growth and increasing enterprise adoption appear to have played a key role in attracting investor interest. Codeium has now reached an annualized recurring revenue (ARR) of around $40 million. This valuation suggests that investors are assigning a multiple of nearly 95 times its ARR, a significantly higher figure than other AI-driven code-generation platforms. For comparison, A...

One in five Americans hoarding items due to rising prices and uncertainty / AFP With the recent implementation of tariffs on imported steel and aluminum by President Donald Trump, a notable shift in consumer behavior has emerged among Americans. A report by CreditCards.com reveals that one in five individuals is purchasing more items than usual, reflecting heightened anxiety about potential inflation and economic instability. This phenomenon, driven by fears of escalating prices resulting from tariff policies, has led many consumers to stock up on essential goods. The findings indicate that a significant portion of the population is concerned about the financial implications of these tariffs. Specifically, 29% of respondents stated that Trump's tariff measures have significantly influenced their purchasing decisions, while 37% acknowledged that the tariffs had some impact. This apprehension is illustrated by the fact that 22% of those surveyed admitted to engaging in hoarding beha...

Kyushu's Economic Revival Driven by TSMC's Semiconductor Investments The transformation of Kyushu, Japan’s southernmost major island, into a semiconductor powerhouse is marked by the massive investments surrounding TSMC’s (Taiwan Semiconductor Manufacturing Company) presence in Kumamoto. Once home to pachinko parlors and agricultural fields, the region is now rapidly evolving into a cutting-edge industrial hub. This change follows the establishment of TSMC’s first manufacturing plant in Japan, which has triggered a cascade of investments and developments in the semiconductor sector, boosting the local economy and revitalizing the region. The Emergence of Japan’s 'Silicon Island' In the past, Kyushu was a significant player in the global semiconductor industry, accounting for 10% of the world’s semiconductor production during the 1980s. However, the decline of Japan’s semiconductor industry left Kyushu behind, earning it the nickname ‘Galapagos of semiconductors.’ Fast...

Egg Shortage and Price Surge: The Impact of Bird Flu and U.S. Government Policies Egg prices in the United States have surged by 15% in just one month, largely driven by a severe bird flu outbreak. The situation has led to widespread shortages in grocery stores, while the White House has shifted the blame to the previous administration under President Joe Biden. This price surge has intensified the ongoing financial pressures on American consumers. Here, we delve into how the avian flu is affecting egg prices and the broader implications of the government’s response. The U.S. poultry industry has been hit hard by the spread of avian influenza (bird flu), which first emerged in 2022. Since the outbreak, nearly 148 million chickens and ducks have been culled to contain the disease, causing a significant disruption to egg production. Reports from the U.S. Department of Agriculture (USDA) indicate that in December 2024 alone, 13.2 million laying hens were culled. This has led to a sharp de...

Beverage Giant Remains Confident Despite Potential Cost Increases Coca-Cola's Chief Financial Officer and President, John Murphy, recently discussed the impact of President Donald Trump's 25% tariff on aluminum imports, stating that while the tariffs may cause some additional costs, they are not expected to significantly disrupt the company's operations or pricing strategy. Speaking in an interview with Yahoo Finance, Murphy emphasized that the company has strategies in place to offset rising aluminum costs and that the overall impact on Coca-Cola’s financial performance is expected to be minimal. He explained that while there could be minor adjustments in production costs, they are unlikely to translate into noticeable price hikes for consumers. Instead, the company plans to absorb these costs through its broader productivity initiatives and operational efficiencies. Coca-Cola CEO James Quincey echoed similar sentiments, stating that while the aluminum price increase is ...

America's Aggressive Economic and Security Policies Cause Turmoil on the World Stage Since the inauguration of Donald Trump, the international community has been thrust into a state of heightened alarm, as his return to the White House marks a much more intense iteration of his "America First" agenda compared to his first term. Although nations had braced for his return, they were unprepared for the level of shock and disruption that followed. Trump's actions in economic and security spheres have begun to challenge and disrupt the existing international order, leaving countries scrambling to assess and respond to the implications of his aggressive unilateral policies. Trump's Early Aggression: Targeting North America and China Trump's first targets were the neighboring North American countries, Canada and Mexico, as well as his geopolitical rival, China. While these countries publicly retaliated with their own tariffs, they also began behind-the-scenes negot...

Top-level trade talks with U.S. officials aim to prevent economic fallout EU Trade and Economic Commissioner Maroš Šefčovič is set to visit Washington on February 17 as concerns over U.S. trade policies escalate. His visit comes amid rising tensions following U.S. President Donald Trump’s recent announcement of sweeping tariffs on steel and aluminum, along with potential reciprocal tariffs on imports from key trading partners, including the European Union. According to reports from Politico and other sources on February 15, Šefčovič is scheduled to meet with several high-ranking U.S. officials, including Howard Lutnick, nominee for Secretary of Commerce, U.S. Trade Representative (USTR) Jamie McGreer, and Kevin Hassett, the director of the National Economic Council. These discussions are seen as a critical move by the EU to mitigate potential economic disruptions caused by Trump's aggressive tariff policies. During the Munich Security Conference, held just days before his schedul...

U.S. President's Tariff Proposal Targets Digital Taxes Imposed by Allies / Reuters U.S. President Donald Trump announced a tariff policy aimed directly at Canada's and France's digital taxes, which have caused significant tension between the countries and the U.S. These digital taxes, which are levied on information technology (IT) companies operating across borders without physical fixed establishments, have been controversial, especially as they affect U.S. tech giants. The White House, in an official fact sheet released shortly after Trump's announcement, emphasized that U.S. tax laws do not allow foreign governments to impose taxes on American companies. The statement underscored that only the U.S. should be authorized to tax American businesses. According to the White House, Canada and France have been imposing digital service taxes, costing U.S. companies over $500 million, with the overall burden on American businesses surpassing $2 billion annually. This has le...

Taiwan's response to Trump's threats about semiconductor industry control and its global supply chain strategy Taiwan's President, Lai Ching-te, addressed the nation's approach to the semiconductor industry, particularly in response to U.S. President Donald Trump’s recent remarks. Trump had previously threatened to reclaim the semiconductor sector, accusing Taiwan of taking business away from the U.S. Lai expressed understanding of Trump's concerns, emphasizing that Taiwan plans to increase investment and purchases from the United States and commit to enhancing defense spending. Lai’s comments came after Trump’s statement, in which he suggested that nearly all semiconductor production is now in Taiwan, with some in South Korea, and accused Taiwan of taking over U.S. companies’ chip manufacturing operations. Trump's remarks, pointing to companies like Intel, highlighted the shift of semiconductor production overseas and criticized Taiwan’s dominance in the globa...

  Canadian Auto Industry Faces Major Challenges as Trump Threatens Tariffs As Canada prepares for the impact of U.S. tariffs on steel and aluminum, U.S. President Donald Trump is now considering an additional tariff on Canadian-made cars, potentially as high as 50 to 100 percent. This new threat adds to the growing economic tensions between the two neighboring countries, who have long shared an integrated auto manufacturing sector. In an interview with Fox News, President Trump expressed frustration with Canada's auto industry, claiming that Canada "stole" the U.S. automobile market. Trump explained, “If you look at Canada, Canada has a very big car industry. They stole it from us. They stole it because our people were asleep at the wheel." He emphasized that if the U.S. cannot reach a deal with Canada, a steep tariff could be imposed. "Could be a 50 or 100 percent because we don’t want their cars. We want to make the cars in Detroit," Trump said. The U.S. ...

U.S. Aims to Counteract Impact of Cheap Chinese Steel on Global Market Prices U.S. President Donald Trump has announced plans to impose a 25% tariff on all steel and aluminum imports, a move widely interpreted as indirectly targeting China. According to an analysis by The New York Times (NYT), this decision is rooted in concerns over China’s excessive production of steel and aluminum, which it exports at low prices to countries like Canada and Mexico, undermining the competitiveness of American steel industries. While China does not export large quantities of steel and aluminum directly to the U.S., its impact on the American market is significant. As of January, the top five suppliers of steel to the U.S. were Canada, Brazil, Mexico, South Korea, and Germany, with China trailing far behind. This is partly due to tariffs introduced by former President Joe Biden in September last year, which raised duties on Chinese steel and aluminum products to 25%. However, the crux of the problem...

The U.S. President’s new reciprocal tariff policy signals a global trade conflict U.S. President Donald Trump, ahead of his meeting with Japanese Prime Minister Shigeru Ishiba, announced his intentions to escalate the global tariff war, emphasizing a policy of "reciprocal tariffs." This move, which was made during a press briefing, signals a significant shift in the United States' trade strategy, potentially impacting countries around the world. The U.S. government is expected to announce more detailed plans regarding these reciprocal tariffs on February 10-11. Trump has previously revealed intentions to impose tariffs on various goods, including semiconductors, steel, aluminum, oil, gas, and pharmaceuticals. His declaration of tariffs on China, Canada, and Mexico due to issues such as fentanyl trafficking has now expanded the scope of the tariff war, affecting nearly every major trade partner globally. Although "reciprocal tariffs" is not an official term, Pr...

  Rising Privacy Concerns and AI Competition Fuel Controversy / AFP As China's generative AI chatbot DeepSeek gains unprecedented popularity, governments across the world—including the United States, South Korea, Japan, and Australia—are taking steps to ban its usage on official devices due to concerns over excessive data collection and potential national security threats. Despite these restrictions, individual users remain captivated by the technology, leading to DeepSeek's dominance in app store rankings across 157 countries. Global Governments Move to Restrict DeepSeek Over Privacy Risks According to the Wall Street Journal, U.S. lawmakers are set to introduce a bill that would prohibit government agencies from using DeepSeek on official devices. Representatives Darren LaHood (R-IL) and Josh Gottheimer (D-NJ) argue that DeepSeek poses similar risks to TikTok, necessitating stringent access limitations. If the bill is enacted, all federal agencies would be required to remove ...

Will Saudi Arabia’s ambitious 'Mukaab' project succeed as a futuristic urban landmark? The concept of skyscrapers often evokes images of towering spires, their sleek glass exteriors reflecting the sky as they soar above the city. For years, the race to build the tallest building has been a global competition. However, as time has passed, the era of simply competing for height has given way to a new focus on unique architectural designs and the stories behind them. In this new phase, one country stands at the forefront: Saudi Arabia. Leading the charge with its ambitious and innovative architecture is the 'Mukaab' project, a monumental structure that has captivated global attention. As part of the larger 'New Murabba' urban development in Riyadh, the Mukaab promises to redefine what we understand as the modern metropolis, blending futuristic technologies with a deep cultural narrative. The Scale of Mukaab: A City Within a Cube Standing 400 meters tall and str...