Economy & Finance

Economy, finance, markets, luxury and geopolitics — macro signals that influence the art market and collecting.

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Berlin Banks Warn of US Intervention Over Housing Expropriation economy-finance
Four Berlin banks have publicly opposed the implementation of the 2021 referendum on expropriating housing from major landlords, warning of potential financial crisis, investor…
EU sets October deadline for China trade imbalances after Brussels talks economy-finance
The European Union has given China until October to deliver 'tangible results' on reducing trade imbalances, following a marathon negotiating session in Brussels. Beijing agreed…
US Supreme Court blocks Trump's bid to fire Fed Governor Lisa Cook economy-finance
On Monday, the US Supreme Court declined President Donald Trump’s attempt to dismiss Federal Reserve Governor Lisa Cook, thereby upholding the autonomy of the central bank. In a…
Comcast spins off NBCUniversal and Sky into separate company economy-finance
Comcast announced the spin-off of its media and entertainment assets, including NBCUniversal and Sky, into a new independent company. The move separates Comcast's core broadband…
Ad-Free Streaming Now a Premium Luxury as Prices Surge economy-finance
Streaming services have shifted from ad-free havens to ad-supported models, with ad-free tiers now costing significantly more. Netflix, which launched at $7.99/month in 2010, now…
China's Piotech to acquire Wuxi Shangji in chip tool consolidation economy-finance
Shanghai-listed semiconductor equipment maker Piotech (Tuojing Technology) announced on Saturday its plan to acquire a controlling stake in Wuxi Shangji Semiconductor, a move to…
Sovereign Funds Pivot to Energy Assets as Dollar Fears Rise economy-finance
Invesco's survey indicates that sovereign wealth funds and central banks, which oversee $29 trillion in assets, are increasingly investing in energy and infrastructure due to…
Pinduoduo's Xiongan acquisition signals tech hub growth but muted housing demand economy-finance
On June 21, Pinduoduo, a Chinese e-commerce company, entered into a deal with Power Construction Corp of China to establish itself in an e-commerce industrial park located in…
Coinbase and OKX Launch Bonus Campaigns as MiCA Deadline Reshapes European Crypto Market economy-finance
The July 1 MiCA regulatory deadline has triggered a user acquisition war among licensed crypto exchanges in Europe. Binance withdrew its MiCA license application with Greece's…
Tether and Ledn Launch Gold-Backed Loans Using $23 Billion XAUT Reserves economy-finance
Tether, recognized as the leading stablecoin issuer globally, has teamed up with Ledn, a cryptocurrency lending platform, to facilitate loans backed by bullion, utilizing its gold…
Hong Kong eyes insurance hub role for China's space boom economy-finance
Hong Kong aims to establish itself as a central insurance hub for the burgeoning commercial space industry in mainland China, which is notably underinsured despite significant…
BIS warns AI investment boom poses financial stability risks economy-finance
The Bank for International Settlements (BIS) is sounding the alarm about the swift rise in AI-related investments in private credit markets, which aren't tightly regulated and…
China emerges as key partner for Africa's economic growth economy-finance
China is increasingly seen as a reliable partner for African economies seeking growth, with partnerships now viewed as platforms for development rather than subjects of debate.…
Iran's economy shattered by US$270 billion war damage economy-finance
Three months of war have inflicted an estimated US$270 billion in damage on Iran, equivalent to nearly 73% of its 2025 GDP of US$371 billion. The destruction is comparable in…
Chinese tech workers fear AI-driven layoffs as 'optimisation' takes on new meaning economy-finance
Workers in China's tech sector are growing increasingly concerned about the potential of artificial intelligence taking over their jobs, particularly as firms such as Meituan,…
Hong Kong deputy finance chief outlines reforms to bolster financial hub status economy-finance
Hong Kong's deputy finance minister, Wong, announced a series of listing changes and new product launches aimed at strengthening the city's role as a global financial hub. The…
Leon Black defends $158M paid to Epstein in congressional testimony economy-finance
On Friday, billionaire investor Leon Black appeared before the House Oversight Committee to justify the $158 million he disbursed to Jeffrey Epstein during their lengthy…
Trump threatens 100% tariff on countries with digital services tax economy-finance
US President Donald Trump threatened a 100% tariff on imports from any country imposing a digital services tax on American companies. In a social media post on Friday, he singled…
Chicago Creative Sector Is City's Third-Largest Industry, Report Finds economy-finance
A recent study on economic impact by Arts Alliance Illinois indicates that the creative sector in Chicago ranks as the city's third-largest industry, providing close to 213,000…
BitGo Cuts 15% of Workforce to Focus on Stablecoins and AI economy-finance
On June 25, 2026, BitGo Holdings, a cryptocurrency custody company, revealed plans to reduce its workforce by nearly 15% as part of a restructuring aimed at enhancing its focus on…
EU considers new Plaza Accord-style deal with China economy-finance
European leaders are exploring a potential trade agreement with China akin to the 1985 Plaza Accord, which devalued the US dollar. German Chancellor Friedrich Merz claims the yuan…
Apple price hikes may hit iPhone next as memory, storage costs soar economy-finance
Apple raised prices on MacBooks, iPads, Vision Pro, and home devices globally on Thursday, with some models costing 20% more, wiping out US$260 billion of its market cap…
Chinese exporters wary of US-Iran peace deal despite hopes for trade resumption economy-finance
Chinese exporters and shipping firms remain cautious about the US-Iran peace deal, fearing supply chain disruptions and doubts about the agreement's durability. Traders and…
Kalshi Targets $40 Billion Valuation in New Funding Round economy-finance
Kalshi is currently engaged in advanced discussions to secure funding that could elevate its valuation to around $40 billion, nearly doubling from the $22 billion mark in May…
Aave Surges 15% as Standard Chartered Sets $3,500 Target, Bitcoin Dips Below $60,000 economy-finance
On June 25, Aave (AAVE) experienced a remarkable increase of over 15%, reaching $82.77, even as a significant selloff in the cryptocurrency market drove Bitcoin below $60,000 for…
EU Offers Brazil Rare Earths Deal with Refining Investment and Tech Transfer economy-finance
During a week-long trip to Brazil, Jozef Sikela, the European Commissioner for International Partnerships, is promoting a rare earths agreement that he asserts is more…
US Inflation Hits 3-Year High as Consumer Spending Accelerates economy-finance
In May, consumer spending in the US picked up speed, even as inflation surged at its highest rate in over three years, fueled by increased tax refunds, a recovering labor market,…
AI Memory Shortage Drives Apple Price Hikes Across Mac, iPad, and Vision Pro economy-finance
Apple has raised prices across its entire product lineup, including Macs, iPads, and the Vision Pro, due to an AI-driven flash memory shortage. The MacBook Neo now starts at $699,…
Rubio ends Gulf tour as allies voice Iran peace deal fears economy-finance
US Secretary of State Marco Rubio wrapped up a tour of the Gulf amid apprehensions from allies regarding a potential peace agreement with Iran. At a meeting of Gulf Arab foreign…
EU disburses first €3 billion of €90 billion loan to Ukraine economy-finance
The European Union has released the initial €3 billion of a €90 billion loan to Ukraine, as announced by Ukrainian Prime Minister Yulia Svyrydenko at a recovery conference in…
Trip.com revenue growth slows, warns of antitrust fine economy-finance
Trip.com Group, China's largest online travel agency, reported a 17% revenue increase to 16.2 billion yuan ($2.4 billion) in the first quarter of 2025, but forecast second-quarter…
Bain Forecasts Slow Luxury Recovery by 2026 Amid Global Uncertainty economy-finance
A new forecast from Bain & Company predicts that the luxury industry will see a slow recovery starting in 2026, despite ongoing macroeconomic uncertainty and global unrest. The…
Kuaishou chip spin-off TranStreams raises Series A+ funding amid US export controls economy-finance
This week, TranStreams, a chip subsidiary of Kuaishou, a prominent Chinese short video company, secured an undisclosed sum in a Series A+ funding round led by QF Capital.…
China's Big Fund becomes SMIC's third-largest shareholder after record Star Market buyout economy-finance
China's state-backed National Integrated Circuit Industry Investment Fund, known as the Big Fund, has become the third-largest shareholder of Semiconductor Manufacturing…
ASML and NXP Join Dutch Trade Mission to China Amid US Export Restrictions economy-finance
Executives from Dutch tech giants ASML and NXP will participate in a trade mission to Beijing next month, led by Trade Minister Sjoerd Sjoerdsma. The trip involves 17 officials…
Micron validates growth of Chinese chipmakers CXMT and YMTC economy-finance
Micron Technology, a major US memory chip supplier, acknowledged the growing capabilities and market share of Chinese competitors CXMT and YMTC during an earnings call on…
JCET invests $1.15B in Shanghai advanced chip packaging plant economy-finance
China's JCET announced a $1.15 billion investment to build an advanced chip packaging and testing factory in Shanghai's Lin-gang Special Area. A controlled subsidiary with 4…
US Federal Tax Credit for Film Production Gains Support economy-finance
In the United States, there is a growing agreement on establishing a federal tax credit for film production. At present, 39 states provide incentives for production, while the…
Economist Warns German Pension Reform Fails to Tackle Old-Age Poverty economy-finance
Economist Sebastian Dullien criticizes the German government's plan to fully adopt the 33 proposals from the pension commission. In an interview with der Freitag, he argues the…
Tech Giants' Market Dominance Threatens Public Sphere economy-finance
New data reveals the alarming extent to which tech corporations like Google and Meta control the internet and public discourse. Martin Andree's research quantifies this dominance,…

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