Trump meets Zelenskyy at Vatican, agrees on further talks
President Donald Trump and Ukrainian President Volodymyr Zelenskyy met ahead of Pope Francis' funeral at the Vatican, according to sources.
Shares in Nike, Adidas, and Puma fell sharply after the U.S. imposed steep tariffs on Vietnam, Indonesia, and Cambodia, key sourcing hubs. The move raises concerns over rising costs and supply chain disruptions, adding fresh uncertainty to global markets.
Shares in leading sportswear brands Nike, Adidas, and Puma tumbled on Thursday following U.S. President Donald Trump’s announcement of sweeping new tariffs. The latest trade measures impose a 46% tariff on Vietnam, 49% on Cambodia, 37% on Bangladesh, and 32% on Indonesia, key manufacturing hubs for the industry. China also faces an additional 34 percentage point hike, further escalating trade tensions.
Nike, which sourced 50% of its footwear and 28% of its apparel from Vietnam in its 2024 financial year, saw its Frankfurt-listed shares drop 6.5%. Adidas shares fell 9% to a one-year low, while Puma plunged 8.5%, hitting its lowest level since November 2016.
Adidas relies heavily on Vietnam, which accounts for 39% of its footwear production, with Indonesia and Cambodia contributing 32% and 23%, respectively. Analysts warn that these higher tariffs will disproportionately impact the sportswear sector, leading to potential cost increases and supply chain disruptions.
The tariffs add fresh uncertainty to the global economy, with investors closely watching how these brands navigate rising costs and shifting trade policies. Market analysts anticipate further volatility as companies assess their sourcing strategies in response to the trade war escalation.
China has rolled out the world’s first 10-gigabit (10G) fixed broadband network in Xiong'an New Area, promising ultra-fast speeds and low latency through cutting-edge optical infrastructure.
The Holy Fire ceremony stands as one of Christianity's most enduring and mysterious rituals, drawing thousands of pilgrims to Jerusalem each year.
Pope Francis's relationship with Azerbaijan has evolved significantly over the years, characterized by diplomatic exchanges, promotion of religious tolerance, and peace advocacy in the Caucasus region.
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
China’s pivot away from U.S. liquefied petroleum gas under new tariffs is shaking global energy flows, slashing demand, and fuelling a scramble for alternatives across Asia, with Middle Eastern suppliers and rival buyers seizing the moment.
President Donald Trump on Thursday signed an executive order aimed at boosting the deep-sea mining industry, marking his latest attempt to boost U.S. access to nickel, copper and other critical minerals used widely across the economy.
Uzbekistan and Iran have agreed to establish a Joint Business Council aimed at fostering development of business ties and facilitating the resolution of issues between entrepreneurs from both countries.
Brussels has fined Apple and Meta over €700 million combined, launching its first crackdown under the Digital Markets Act aimed at curbing big tech’s power and boosting competition in the digital economy.
The Trump administration is considering reducing tariffs on Chinese imports, aiming to ease tensions with Beijing as trade negotiations continue, a source familiar with the matter said on Wednesday.
Iran informed China on Wednesday about ongoing nuclear negotiations with the US, expressing a commitment to diplomacy despite past setbacks and urging stronger bilateral cooperation under their 25-year strategic agreement.
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