FedEx demand ‘deteriorated sharply’ on China route amid Trump’s trade war
Shares in express parcel operator fall sharply amid uncertainty over demand outlook
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The return of China’s ‘Little Africa’
Covid-19 threatened the decades-old community but the pull of Guangzhou’s trading hub has proved irresistible
FirstFT: Zohran Mamdani victory sends shockwaves through US politics
Also in today’s newsletter, Israel-Iran truce and Russian shadow crypto payments
China’s premier vows to ‘open its doors wider’ to trade and tech industry
Li Qiang tells annual World Economic Forum event that ‘globalisation will not be reversed’
Israel-Iran day 12 as it happened: Fragile truce appears to take hold after Trump rebukes Israel and Iran; White House hits out at ‘leaked’ intelligence assessment on Iran strikes
Israel claimed ceasefire that went into effect on Tuesday morning had been broken by Tehran
Taiwan has upped the ante in the cold war over chips
Taipei blacklisting of leading Chinese tech groups including Huawei and SMIC comes as US weighs additional restrictions
BoE’s Bailey warns on UK productivity in challenge to Reeves
Governor ‘sceptical’ about Office for Budget Responsibility assumption over rebound in growth rates
Powell pushes back on calls for Fed rate cuts as soon as July
US central bank chair tells congressional committee economy remains ‘solid’ but tariffs could push up prices
Trump signals sanctions relief for China to buy Iran’s oil
Potential policy U-turn comes hours after president declared peace in Middle East war
EU readies retaliatory tariffs to secure better trade deal with Trump
German chancellor backs more muscular approach ahead of July talks deadline
The dangers of stablecoins
They are no substitute for money, even if usage is growing fast
FirstFT: Iran has violated ceasefire, says Israel
Also in today’s newsletter, New York’s mayoral race and emerging markets outperform
China has influence over ports across Latin America, US think-tank reports
CSIS research highlights concerns in Washington over extent of Chinese companies’ involvement in regional infrastructure
‘Tiger-fighting’ anti-graft official takes helm at China-backed AIIB
Former anti-corruption official Zou Jiayi will lead Beijing’s answer to the World Bank
ECB could still cut rates despite oil market volatility, top policymaker says
French central bank governor says further easing remains possible as underlying inflation outlook remains unchanged
Why global imbalances do matter
If the US wants to accelerate a worldwide discussion with a policy intervention, the obvious one would be a tax on capital inflows
Europe’s plan to finally make its single market work
Three decades after it was launched, hundreds of barriers still persist within the EU. In an era of trade wars, Brussels has made it a key priority
DWS chief urges Europe to accept more Chinese and Gulf investment
Comments from Deutsche Bank’s asset manager come as Germany gears up for €500bn infrastructure blitz
Fed official Michelle Bowman calls for rate cut as soon as July
Vice-chair for financial supervision says Donald Trump’s tariffs will have smaller effect on inflation than feared
Governments aren’t hearing the calls for aid
Next week’s development finance conference in Seville is unlikely to deliver much
Global Economy
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