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Trump touts 'done' deal with Beijing on rare earths, Chinese students
US President Donald Trump touted ties with China as "excellent" on Wednesday, saying the superpowers reached a deal after two days of talks aimed at preserving a truce in their damaging trade war. "Our deal with China is done," Trump wrote, adding that the agreement was still "subject to final approval with President Xi (Jinping) and me."
US inflation edges up as Trump tariffs flow through economy
US consumer inflation ticked up in May, in line with analyst expectations, government data showed Wednesday as President Donald Trump's sweeping tariffs began to ripple through the world's biggest economy. Despite the wide-ranging duties, analysts said it will take months to gauge the impact on consumer inflation.
Russians struggle with 'crazy' prices
Russian pensioner Roman Paltievich stared at the prices for apricots, tomatoes and watermelons stacked high on stalls at a Moscow market -- foods that he now struggles to fit into his budget. - Filling up the fridge - Many of those navigating the aisles at Moscow's Preobrazhensky market were also worried about high prices.
ECB's Lagarde slams 'coercive trade policies' in Beijing visit
European Central Bank chief Christine Lagarde warned Wednesday that "coercive trade policies" risked harming supply chains and the global economy, and called for a de-escalation of a tariff standoff that has wiped billions off markets. She warned that protectionism risked "eroding the foundations of global prosperity".
UK expected to boost defence, health in major spending review
Britain's Labour government will unveil its day-to-day spending and investment plans for the coming years on Wednesday, with big funding increases to defence and healthcare expected, along with cuts elsewhere. But the increased spending leaves other government departments facing funding squeezes.
Rare earths: China's trump card in trade war with US
China is counting on one crucial advantage as it seeks to grind out a deal to ease its high-stakes trade war with the United States -- dominance in rare earths.
French Tesla customers sue over brand becoming 'extreme right'
Around 10 French clients with leases on Teslas are suing the US carmaker, run by Elon Musk, because they consider the vehicles to be "extreme-right" symbols, the law firm representing them said on Wednesday. They feel they suffered "direct and concrete" damage from the way Teslas are now associated with "Elon Musk's actions", the GKA law firm said.
Asian equities rally after China-US framework on trade
Asian stocks rose Wednesday as investors welcomed a China-US agreement to lower trade tensions that stoked hopes the economic superpowers will eventually reach a broader tariff deal. The deal, which was reached late Tuesday, boosted Asian markets with Hong Kong and Shanghai among the best performers, while Tokyo, Sydney, Seoul, Wellington, Taipei and Manila were also up.
Nintendo says sold record 3.5m Switch 2 consoles in first four days
Nintendo said Wednesday it had sold a record 3.5 million Switch 2 units worldwide in the first four days after the console was launched. Since its 2017 launch, the original Switch -- which enjoyed a popularity boost during the pandemic with hit games such as "Animal Crossing" -- has sold 152 million units.
AFP
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