BUSINESS
Canada Launches Largest - scale Economic Reform since WWII
Canada's Prime Minister Carney has announced the launch of the largest - scale economic transformation since World War II. The core measures include tax cuts for the middle class starting from July (a two - income family can save 825 Canadian dollars annually), the removal of internal trade barriers within the federation, reducing the proportion of temporary workers and international students to less than 5% by 2027
Plummeting International Student Numbers in Australia Raise Labor Shortage Fears; RBA Rate Cut Imminent
Australia is grappling with a sharp decline in international students, triggering concerns over labor market gaps. As of April 2025, the total number of international students dropped to 794,000, a decrease of 300,000 from the end of 2024. New enrollments plummeted 13% year-on-year to 219,000, while visa applications fell by over 30%. This is largely attributed to successive policy tightenings: visa fees were hiked twice in a year (from A$710 to A$1,600, then to A$2,000); English proficiency and financial proof requirements were raised
UK Stocks Surge with Record - Long Rally, Led by Energy and Finance Sectors
The UK's FTSE 100 index climbed 1.2% on May 2nd, registering its 15th consecutive daily gain and setting a new record for the longest streak of rises in its history. It is now just 3% below its March peak. Global trade tensions have eased, with signs of the US and China reopening negotiations on tariffs, and better - than - expected corporate earnings have boosted market sentiment and risk appetite.
Australia Officials Announce Heavyweight Decision: Not to Continue!
Australia Officials Announce Heavyweight Decision: Not to Continue!
Saudi Aramco's 2023 H1 Profit Soars to $88B Amid Oil Price Volatility
Saudi Aramco, the world's largest oil company, reported a net profit of $88 billion in the first half of 2023, significantly influenced by oil price fluctuations. The company's substantial earnings are a boon for Saudi Arabia's economy, as it continues to be a major player in the global energy market.
U.S. House Passes First Major Crypto Industry Regulation Bills
The U.S. House of Representatives passed the Genius Act on July 17, sending it to President Trump for signature. This marks the first U.S. regulatory framework for dollar-backed crypto stablecoins. The House also approved two other crypto bills the same day.
UK Markets Await Central Bank Decisions Amid Holiday Lull
On May 5, the UK stock market was closed due to a holiday. On Monday, the pound rose against the weakening US dollar. With the UK public holiday causing a lull in market news, all eyes are on the upcoming Bank of England's monetary policy decision later this week. There are no major domestic events before Thursday's Bank of England meeting.
Canada Accelerates Trade Diversification to Counter U.S. Tariff Shocks
Canada is pushing faster trade diversification to fend off U.S. tariff impacts: its U.S. export share dropped 10 percentage points to 68% between May 2024 and May 2025, with auto parts and steel hit hardest. Over the period, U.S.-bound exports fell C$7.7 billion (-15%), while gains to the UK, EU, and Asia-Pacific (C$5.7 billion, +42%) failed to offset the gap.
Canada's S&P/TSX Dips 0.2% as Mining Slides; Energy Gains Offer Partial Offset
Canada’s S&P/TSX Composite Index fell 0.2% to 26,959.65 on Tuesday, dragged by a 2.4% plunge in mining. Gold producers led declines: SSR Mining (SSRM.TO) dropped 6.1% and Orla Mining (OLA.TO) 6.5%, reflecting global gold price pullbacks.
UK Construction PMI Rises to 6-Month High in June but Remains in Contraction
Britain’s construction sector showed mixed signals in June, with the Purchasing Managers’ Index (PMI) edging up to 48.8—its highest level in six months—yet still lingering below the 50 threshold that separates expansion from contraction. A stark divide emerged within the industry:
Euro Zone Shows Recovery Signs as Sentix Hits 3-Year High, German Industry Rebounds
The euro zone’s economic outlook brightened in July: the Sentix Investor Confidence Index surged to 4.5 (up from 0.2), a three-year peak and third straight rise. The current conditions sub-index improved to -7.3 (still contracting), while the expectations gauge jumped to 17.0, signaling optimism. Germany’s index rose to -0.4 (highest since February 2022), with its current conditions improving for five months. Analysts warn sustained recovery could limit the ECB’s rate-cut room.
RBNZ Likely to Pause Rate Cuts This Week; Economic Outlook Faces Pressures
New Zealand’s Reserve Bank (RBNZ) is expected to keep the Official Cash Rate (OCR) unchanged at 3.25% on July 10, pausing its streak of six consecutive rate cuts since August 2024. Market expectations for a cut this week stand at just 15%, though most forecasts anticipate 25–50 basis points of easing by November. ANZ Bank holds a differing view, assigning a 40% probability of a cut and projecting cumulative 75 basis points of reductions by February 2025, bringing the OCR to 2.5%.
BOJ Warns of Food Price-Driven Inflation; U.S. Tariffs Could Severely Hurt Japan's GDP
Bank of Japan board member Junko Kotani warned on July 9 that surging prices of rice and other foodstuffs are intensifying inflationary pressures, urging vigilance against "second-round effects" that might lift household inflation expectations. Japan’s consumer inflation remains around 3%, but the BOJ’s weighted median inflation gauge—closely watched by policymakers—still lags below the 2% target. Kotani noted economic uncertainty makes it premature to pinpoint the next rate hike, with food prices a critical variable.
Canadian Manufacturing in Gloom as Trade War Fuels Recession Fears
Canada's manufacturing sector is mired in a deep slump, with the April Manufacturing PMI dropping to 45.3, a new low since May 2020, shrinking for 11 consecutive months. The output index plunged to 42.7 and the new orders index to 41.2, hitting capital goods producers particularly hard. Uncertainties in US tariff policies have led companies to postpone decisions, and 75% of Canadian exports to the US (steel, aluminum, autos) are facing a 25% tariff shock. Retaliatory measures have exacerbated supply - chain disruptions.
NZ's S&P/NZX 50 Index Rises to Near Two - Month High
On Monday, the S&P/NZX 50 benchmark index in New Zealand climbed 0.8% to 12,421 points, achieving a three - day winning streak and closing at a near two - month high. Driven by the strong performance of transportation - related stocks, this sector benefited from the alleviation of concerns about global supply chain disruptions against the backdrop of the easing of Sino - US trade relations.
U.S. Steel Acquisition Triggers Heated Controversy and Multifaceted Gaming
U.S. Steel Acquisition Triggers Heated Controversy and Multifaceted Gaming
Thailand Puts Effort Into First Major Entertainment Complex - Royal Siam Haven
Thailand Puts Effort Into First Major Entertainment Complex - Royal Siam Haven
Huge change in China-U.S.-European relations, heavy U.S. news after heavy U.S. news
Huge change in China-U.S.-European relations, heavy U.S. news after heavy U.S. news, great information