Markets are hoping for evidence that will solidify a brightening global economic outlook, though rising trade tensions are casting a cloud, while G7 finance ministers gather in Italy.
Yet steep U.S. tariff increases on Chinese imports from electric vehicle batteries to computer chips highlight a fragile outlook for global trade and growth. China vows retaliation. Revenue is expected to rise to $24.8 billion, from $7.2 billion a year earlier, with earnings per share soaring to $5.57 from $1.09, according to LSEG data.
Chinese fast fashion brand Shein is stepping up preparations for a potential London float that could be the venue’s largest ever if its valued at $66 billion. Diamond firm De Beers is another that might bring some sparkle.The central bank that was at the forefront of monetary policy shifts globally has been forced to take a back seat in bringing interest rates down from painful multi-year peaks.
Market wagers for an eventual cut in October put it behind the ECB which is expected to move in June, followed by the BoE in August and the U.S. Fed in September. Switzerland and Sweden have started easing.Finance chiefs from the Group of Seven major democracies will back a European Union plan to use the income from frozen Russian assets to help Ukraine’s war effort at a May 24-25 meeting, according to Italy, which holds the rotating presidency of the group.
Italy has said it will also try to revive an international deal on how to share taxing rights on large corporations which the United States is struggling to ratify in Congress.
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