Finance

Core Summary China has formally imposed export restrictions on dozens of US companies linked to the Pentagon, in a direct retaliatory move against American sanctions. The escalation marks a new chapter in the intensifying tech and trade rivalry between the two superpowers, with rare earth minerals and defense supply chains at the center of the dispute. Event Details According to the Wall Street Journal, China’s Commerce Ministry announced export control measures targeting US firms with ties to the Department of Defense. The move comes as a direct response to Washington’s blacklisting of Chinese companies. ...

[Brief] Evonik Plans 3,200 Global Layoffs; TSMC Cuts 28nm Capacity German chemical company Evonik announced it will extend and expand its global restructuring plan affecting approximately 3,200 employees, responding to continued weakness in chemical markets. Meanwhile, TSMC has cut capacity at its mature 28nm process node by approximately 25% from the start of the year, reflecting soft demand for consumer electronics and automotive chips. Both developments point to a new cyclical adjustment pressure facing global manufacturing. ...

Asia’s richest man Mukesh Ambani’s Reliance Jio, India’s largest telecom operator, is expected to raise around 4 billion dollars through a share sale, potentially becoming one of India’s largest ever.

The Bank of England’s Monetary Policy Committee kept the benchmark rate unchanged at 3.75%, balancing energy price relief from Iran ceasefire developments against persistent domestic services inflation.

The Federal Reserve unanimously held rates at 3.5%-3.75% in new Chairman Kevin Warsh’s first decision. The policy statement and updated projections took a hawkish turn, signaling fewer rate cuts this year.

The Federal Reserve convened its fourth FOMC meeting under new Chair Kevin Warsh. Markets widely expect rates to hold steady but investors are focused on the new chair policy signals. The Nasdaq 100 is positioned for a rebound.

International oil prices fell for a fifth consecutive session as optimism over a U.S.-Iran interim deal weighed on markets. Brent crude dropped below key support to hit a three-month low.

The Dow Jones Industrial Average broke through the 52,000 mark for the first time on Monday, reaching a record closing high. Falling oil prices and expectations of Federal Reserve rate cuts were the primary drivers, while tech stock sell-offs weighed on the S&P 500.

Yum Brands announced it will sell Pizza Hut for $2.7 billion, reflecting the chain’s sustained demand decline amid intense competition and shifting consumer preferences.

SpaceX’s valuation has officially surpassed Amazon’s, making it one of the most valuable companies globally. This milestone marks a fundamental shift in the space economy’s position in global capital markets.