BUSINESS
Australian Shares Edge Lower Ahead of RBA Decision; Tariff Clouds Linger
Australia’s stock market pulled back from record highs on July 7, with the S&P/ASX 200 slipping 0.16% to 8,589.3 and the All Ordinaries Index down 0.18% to 8,826.4. The decline followed confirmation that U.S. tariffs on multiple nations will take effect August 1—later than the previously expected July 10—with the U.S. Commerce Secretary stating "take-it-or-leave-it" tariff notices had been sent to over a dozen countries, stoking trade uncertainty.
EU - US Trade Talks Stalled, European Economic Data Under Pressure
The EU may reach a trade deal with the US by the end of this month, aiming to establish a "minimum - tariff reciprocal framework" to avoid the 10% benchmark tariff proposed by Trump. However, specific exemption clauses are still being negotiated. This stalemate is having a significant impact on the European economy.
UK Secures £7.5bn Green Energy Investment, Eases Mortgage Rules to Boost Housing Market
Britain announced a £7.5 billion ($10 billion) clean energy investment deal with Japan’s Sumitomo Group on July 9, focusing on offshore wind and hydrogen infrastructure. Investment Minister Poppy Gustafsson said it would "break grid bottlenecks." Sumitomo, a long-term energy investor, has injected over £20 billion in the UK in a decade, marking a key step in the Labour government’s push for private capital in net-zero transitions.
Canada's June Ivey PMI Rises to 4-Month High; Rental Market Cools Unevenly
Canada’s Ivey PMI climbed to 53.3 in June, a four-month high, signaling accelerating economic activity. However, underlying concerns emerged: the employment sub-index dipped below 50 (49.5), while the price index surged to 70.2, highlighting mounting inflation pressures.
Japan Clarifies on US Debt and Participates in 10+3 Finance Meeting
On May 5th, Japanese Finance Minister Katsunobu Kato clarified in Milan, Italy, that Japan will not use the sale of its $1.3 trillion in US Treasuries as a bargaining chip in US trade negotiations, retracting his previous controversial remarks.
Japan's Economy Faces Double Pressure: Manufacturing Contraction and Halted Central Bank Policy Shift
Japan's manufacturing sector has been in a continuous slump, with the PMI remaining below the boom - bust line for 10 consecutive months. In April, it recorded 48.7, and the new orders index saw its largest decline in 14 months. Weak demand from China, the US, and Europe, along with US tariff shocks, have significantly hit core export categories such as automobiles and semiconductors.
FTSE 100 Edges Up 0.2% on July 9 as Markets Digest U.S. Tariff Expansion
London’s FTSE 100 inched up 0.2% on July 9, with investors continuing to absorb the impact of U.S. tariff expansions. Advertising giant WPP (WPP.L) plunged 19%—its worst daily drop in over three decades—after slashing profit forecasts due to key client losses and shrinking new business, weighing heavily on the index.
New Zealand's Housing Loan Risks Accumulate Despite Interest Rate Cuts
Despite the Reserve Bank of New Zealand initiating an interest - rate - cutting cycle in August 2024 and the continuous decline in mortgage rates, risks in the housing loan sector are steadily mounting. As of March 2025, the total amount of non - performing housing loans reached NZ$2.412 billion, an increase of NZ$249 million (11.5%) from the beginning of the year.
Australia's Exports to US Surge, Reversing Trade Deficit
In the three months to March 2025, Australia's merchandise exports to the US surged more than three - fold year - on - year to A $16.7 billion, creating a trade surplus of A $4.1 billion and reversing a deficit of A $6.2 billion in the same period last year. Driven by the hedging demand triggered by Trump's tariff policies, the export of gold has become a key driving force
Ireland Revises Q1 GDP Down, Germany’s Exports Slide on U.S. Tariff Shifts
Ireland’s CSO sharply revised Q1 GDP growth on July 8: annual expansion was cut to 7.4% from 9.7%, as surging U.S. pharmaceutical exports faded. The more indicative Modified Domestic Demand (MDD) was revised up to 2.0% from 0.8%, though 2024 full-year MDD growth was trimmed to 1.8% from 2.7%. GNI*, stripping multinationals’ distortions, showed 4.8% 2024 growth, highlighting GDP’s skew from cross-border capital flows.
Google's Struggles and Growth Avenues in the Digital Landscape
Google, the tech giant, still relies heavily on its search advertising business, which contributes around 80% of its revenue. However, the burgeoning rise of TikTok has started to siphon off its advertising market share. TikTok's unique advertising models and vast user base have attracted numerous advertisers, posing a significant challenge to Google's dominance in the digital advertising space.
Australian Stocks Surge 0.92% to Top 8000, with Uranium Shares Leading the Way
On April 29, the S&P/ASX 200 index in Australia witnessed a significant upswing. It climbed 73.5 points, or 0.92%, to close at 8070.6 points, hitting a new eight - week high. The market sentiment received a boost from the 利好 news of the United States reducing tariffs on auto parts.
Thailand approves $2.7 billion data center investment
Thailand approves $2.7 billion data center investment
ESA Assesses Impact of US Budget Proposal; Europe Faces Energy Challenges
The European Space Agency (ESA) is urgently evaluating the impact of the US 2025 fiscal year budget proposal on the joint lunar exploration program. The proposal plans to phase out the SLS rocket and the Orion spacecraft, which contains key modules of Airbus, a European company, and cancel the construction of the "Lunar Gateway" orbital station, which includes components contracted by Thales of France and Italy.
China - Australia Trade Recovery Drives Growth in Australian Wine and Lamb Exports
In the year to March 2025, the recovery of China - Australia trade has brought good news to the Australian wine and lamb industries. The export value of Australian wine to China has soared by 1.01 billion Australian dollars to 1.03 billion Australian dollars. The return of leading wine companies such as Treasury Wine Estates has been the key driving force, leading to a 41% increase in the total export value of Australian wine to 2.64 billion Australian dollars.
Japan's Economy Shrinks in Q1 as US Tariffs Hit Auto Industry
Japan's economy is expected to have shrunk by 0.2% on an annualized basis in the first quarter, the first negative growth in a year, according to a Reuters poll. The main reasons are weak domestic demand and imports growing faster than exports. Private consumption increased only slightly by 0.1%, as rising food prices curbed spending. Capital expenditure rose by 0.8%, but net exports dragged down GDP by 0.6%.
The U.S. housing market is about to usher in a new era this weekend.
The U.S. housing market is about to usher in a new era this weekend.
First time in 20 years! Google, Android may be divested
First time in 20 years! Google, Android may be divested