Skip to main content

Global News Roundup

May 2, 2025


This Week’s Issue

United States economy contracts as tariffs weigh on economy

The United States economy contracted by 0.3% in the first quarter of 2025, according to the Comme…

US Senate rejects bid to block Trump’s tariffs. The United States Senate has rejected an effort to block US President Donald Trump’s tariffs amid bipartisan concerns about the impact of his trade salvoes on the economy. (Al Jazeera)

Ryanair threatens cancelling Boeing aircraft order amid tariffs: Report. European budget airline Ryanair threatened to cancel hundreds of orders of Boeing aircraft amid tariffs imposed by the United States, which have driven prices higher and is considering alternative suppliers, including Chinese plane maker COMAC. (Al Jazeera)

China says it’s considering trade talks with US, but demands canceled tariffs. China says it is “assessing the situation” after what it says have been multiple overtures from the United States seeking trade talks, a potential sign that the two sides may be inching closer to a breakthrough. (NPR)

Euro zone inflation unchanged at 2.2% in April, leaving path open for further ECB interest rate cuts. Economists polled by Reuters had been expecting the reading to come in at 2.1% in April compared to March’s 2.2% as inflation has been easing back towards the European Central Bank’s 2% target. (CNBC)

‘We’re headed in the wrong direction’: Tariffs drive up prices, hurt output: PMI. Tariffs are pushing up manufacturing prices and hurting demand and production as President Donald Trump surpasses 100 days in office, according to the Institute for Supply Management’s April Purchasing Managers’ Index. (Supply Chain Dive)

Employers added a surprising 177,000 jobs as job market shows resilience. Unemployment stays at 4.2%. Hiring was down slightly from a revised 185,000 in March and came in above economists’ expectations for a modest 135,000. The unemployment rate remained at a low 4.2%, the Labor Department reported Friday. (AP)

German inflation dips less than expected to 2.2% in April. German consumer inflation came in at 2.2% in April on an annual basis, easing slightly from March levels but coming in above expectations, preliminary data showed Wednesday. (CNBC)

Hong Kong’s economy accelerated in Q1 ahead of tariff storm. Hong Kong’s economy grew in the first quarter by 3.1% from a year earlier, official advance estimates showed on Friday, expanding for a ninth quarter. (Reuters)

Italy March jobless rate edges up to 6.0%, in line with forecast. Italy’s jobless rate rose marginally to 6.0% in March from 5.9% in February, national statistics bureau ISTAT reported on Friday, with a loss of 16,000 jobs in the month. (Reuters)

South African rand firms before local manufacturing PMI. The South African rand firmed in early trade on Friday, ahead of the release of a purchasing managers’ index (PMI) survey for the local manufacturing sector. (CNBC)

Another American ally just issued an economic warning because of the trade war. The Bank of Japan on Thursday lowered its expectations for 2025 gross domestic product growth to an anemic 0.5%, down from the previous projection of +1.1%, made in January. It also cut its growth forecast for next year to 0.7%, down from the previous projection of +1.0%. (CNN)

India will include caste details in its next census. India will include caste details in its next census, in a move likely to have sweeping socio-economic and political ramifications for the world’s most populous country. (NPR)

US robot makers hope to beat China in humanoid race. Tariffs could affect their ambitions. Tariffs weren’t on the agenda of this week’s Robotics Summit, where thousands of tech industry workers mingled with humanoid and other robot varieties and talked about how to build and sell a new generation of increasingly autonomous machines. (AP)

FCIB Survey

Past Survey Results

Thank you for participating in the March FCIB Credit & Collections Survey of Argentina, Canada, France and Japan.

You can view your survey participation under the “Survey” tab in your account.