Economy & Finance

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

Most recent stories

Philippines' Pax Silica tech supply chain deal with US risks China tensions economy-finance
The Philippines is pursuing the Pax Silica initiative, a US-led plan to position the country as a critical node in a tech supply chain, but the strategy relies on speculative…
Trump's $1.8B 'Weaponisation' Fund Temporarily Halted by Federal Judges economy-finance
A $1.8 billion fund established by President Donald Trump to compensate those claiming government 'weaponisation' has been suspended, as reported by two sources knowledgeable…
SAIC Motor Plans First EU Car Plant in Spain's Galicia economy-finance
Chinese automaker SAIC Motor plans to build its first European Union car factory in Spain's northwestern region of Galicia, with an initial investment of approximately €200…
Strategy Sells Bitcoin for First Time Since 2022 to Cover Preferred Dividends economy-finance
Last week, Strategy, the company established by Michael Saylor that accumulates bitcoin, divested 32 bitcoins for $2.5 million to facilitate distributions on its preferred stock.…
Trump Administration Targets National Science Foundation Social Science Funding economy-finance
The Trump administration plans significant reductions in funding for the National Science Foundation (NSF), with a particular focus on its Social, Behavioral, and Economic…
China’s investment-driven global growth role underestimated, study finds economy-finance
A new report from a Chinese think tank reveals that traditional measures don’t accurately reflect the investment gap between China and the US, nor its wider economic implications.…
Ivonescimab reduces lung cancer death risk by 34% in phase 3 trial economy-finance
Ivonescimab, a lung cancer drug developed by Akeso, reduced the risk of death by 34% in a phase 3 trial for non-small cell lung cancer. Analysts predict it could become a backbone…
Coinbase Launches Direct INR Deposit and Withdrawal Rails in India economy-finance
As of June 1, 2026, Coinbase has commenced its full operations in India, allowing users to deposit and withdraw Indian rupees through the Immediate Payment Service (IMPS). The…
Meituan posts third straight quarterly loss amid local services rivalry economy-finance
Chinese food delivery and local services giant Meituan reported its third consecutive quarterly loss, with revenue rising 5.6% year-on-year to 91 billion yuan ($13.45 billion) in…
Shanghai exchange reshuffle boosts tech and AI chipmakers in key indices economy-finance
This month, a biannual adjustment of China's yuan-denominated stock indices will enhance the presence of technology firms, likely drawing increased investments and enhancing the…
Hong Kong government venture fund seeks more capital after strong returns economy-finance
Hong Kong Investment Corporation (HKIC), the city's government-backed venture fund, is seeking additional capital after achieving a double-digit internal rate of return in 2025,…
Powell defends Fed independence in JFK award speech economy-finance
Former US Federal Reserve chair Jerome Powell used his acceptance speech at the John F. Kennedy Presidential Library to issue a stark warning about threats to independent…
Hong Kong civil service pay rise debated amid fiscal improvement claims economy-finance
Hong Kong is in the midst of its annual process to determine pay rises for over 170,000 civil servants. The Executive Council considers a survey, the state of the economy, cost of…
US Energy Strategy Against China: A Long Game of Positional Power economy-finance
The Trump administration's apparent detente with Beijing masks a strategic effort to reshape global energy flows and undermine Chinese competitiveness. Drawing on Sun Tzu's…
SpaceX's path to global dominance faces geopolitical hurdles economy-finance
SpaceX's anticipated US$1.8 trillion valuation and Starship development fuel claims of market domination, but space is a strategic domain tied to sovereignty, security, and…
AI firm MiniMax prepares for mainland China listing after shares surge in Hong Kong economy-finance
Chinese AI company MiniMax has hired Citic Securities to prepare for a mainland China listing of yuan-denominated shares, with the specific venue yet to be confirmed. The…
AI costs rising faster than value, firms rethink spending economy-finance
Companies that invested heavily in artificial intelligence are now facing rising costs that outpace the technology's value, prompting a strategic reassessment. Uber's chief…
China's Planned Economy Drives Global Power Rise economy-finance
China's strategic investments in research and science are yielding economic dividends, positioning the country ahead of the West in creating an 'ecological civilization.'…
40% of Bitcoin Holders Underwater as Bear Market Fears Mount economy-finance
Currently, Bitcoin is valued at $73,469, reflecting a decline of 31% from its peak exceeding $120,000 in October 2025. Analyst Darkfost highlights that 40% of the circulating…
Bond yields surge signals market recognition of unsustainable government spending economy-finance
The rapid rise in bond yields globally, particularly in Asia, indicates financial markets are acknowledging that governments are overspending relative to their tax revenues and…
Trump ICE crackdown cost 668,000 US jobs, Brookings finds economy-finance
A Brookings Institution report released Friday found that the Trump administration's 2024 immigration enforcement surge led to 668,000 job losses across 86 US cities, creating a…
Hong Kong Stock Exchange Marks 40 Years Amid Chip Boom and IPO Competition economy-finance
The Hong Kong stock market marked its 40th anniversary on Thursday, celebrated with a ceremonial gong strike in Central. Valued at $6.1 trillion, the milestone honors the 1986…
UK festival ticket prices surge above inflation, BBC analysis finds economy-finance
BBC News analysis reveals that ticket prices for major UK festivals have risen significantly above inflation over the past decade. Reading and Leeds tickets increased from £145 in…
Philippines faces economic risks as Asean chair amid converging crises economy-finance
At a time when various crises are converging, the Philippines is at the helm of the Asean chairmanship, facing significant structural vulnerabilities. The nation's economy is…
China's Wang Yi suggests Canada could double exports during rare visit economy-finance
Chinese Foreign Minister Wang Yi suggested during a meeting with Canadian Foreign Minister Anita Anand on Friday that Canada could double its exports to China, surpassing the…
Hollywood CEO Pay Surges 51% While Industry Cuts 17,000 Jobs economy-finance
The top 18 Hollywood executives earned a combined $746 million in 2025, a 51% increase from $615 million in 2024, according to TheWrap's analysis of proxy filings. The pay surge,…
EU Trade Chief Details Tougher China Policy Amid Retaliation Threat economy-finance
The European Union is set to intensify its trade approach regarding China, as Trade Chief Maroš Šefčovič presents a plan to address a new 'China shock' that poses risks to…
Bitcoin Falls Out of Top 10 Global Assets Again as Tech and Metals Surge economy-finance
Bitcoin has fallen to its lowest position in over two years, now outside the top 10 global assets by market capitalization. As of May 28, 2026, its market cap is around $1.09…
FalconX Confidentially Files for IPO as Crypto Listings Cool economy-finance
Crypto prime broker FalconX has confidentially filed a draft S-1 registration with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO),…
EU's six largest economies back joint capital markets supervision economy-finance
Finance ministers from the six largest economies in the EU—Germany, France, Italy, Poland, Spain, and the Netherlands—have reached a consensus endorsing a proposal from the…
EU-China trade relations enter fractious new era, Brussels insider warns economy-finance
During the UBS Asian Investment Conference held in Hong Kong on Thursday, Brussels lobbyist and former US diplomat, Koplovsky, discussed a notable evolution in Europe’s stance…
Trump's Iran war threatens Asian remittance lifeline via Gulf migrant jobs economy-finance
Approximately 35 million migrant workers are employed in Gulf economies, where the UAE and Qatar boast nearly 90% of their populations as non-nationals. These nations heavily rely…
Mastercard Granted New York BitLicense for Digital Asset Expansion economy-finance
Mastercard Transaction Services (U.S.) LLC, a Mastercard subsidiary, received a BitLicense from the New York Department of Financial Services (NYDFS) in May 2026, enabling digital…
Canadian PM Carney calls for new US partnership in New York speech economy-finance
During a speech in New York on Thursday, Canadian Prime Minister Mark Carney advocated for a "new partnership" with the United States, aiming to "help make America great again."…
Late Night TV Ad Dollars Shift to YouTube and Social Media economy-finance
According to a report from The Wrap shared on Yahoo, Guideline, a company specializing in data insights, discovered that approximately 20% of advertising revenue lost from…
US inflation hits 3.8% in April, highest since May 2023 economy-finance
A key US inflation gauge accelerated to 3.8% in April, the highest since May 2023, driven by high petrol prices and food costs. The Commerce Department reported a 0.4% monthly…
Three scenarios for global stability after systemic conflict economy-finance
The article outlines three possible paths for global stability as the current systemic conflict—encompassing trade wars, financial battles, and military confrontations—reshapes…
EU to Toughen Response to Chinese Imports Amid 'China Shock 2.0' economy-finance
On Friday, the European Union's executive branch plans to take a firmer approach regarding imports from China, prompted by an influx of inexpensive competition that threatens…
China Ends Day-Night Power Pricing for Green Energy economy-finance
China is phasing out its decades-old electricity pricing system that charged higher rates during the day and lower rates at night. The shift is driven by the increasing share of…
Arts Institutions Rethink Funding as Earned Income Surges economy-finance
Three arts organizations across two continents are finding financial stability through revenue generation instead of relying on traditional grants. Wigmore Hall in London has…

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