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Chinese economy continues Strong recovery from coronavirus in the first quarter of 2021 when the country posted record annual growth rates, but these numbers mask the lingering losses left by last year’s pandemic.
China’s output soared 18.3% a year for the first three months, the fastest pace since records began in the early 1990s. But on a quarterly basis, the economy grew just zero. , 6%, according to the National Bureau of Statistics – much lower than expected.
The high rate has been predicted in advance because of the same period last year the Chinese economy contract for the first time in decades when the country fell into a deadlock.
“The recovery will give the government more opportunity to reduce stimulating and strengthening macroeconomic policies. [its] Focus on financial risk [to the economy]”, Said Eswar Prasad, a Chinese financial expert at Cornell University. (FT)
Global stocks Profits expand on the following friday reaching new heights in the previous session after the release of optimistic economic data in the US and pledged that the Federal Reserve will continue to support the financial markets.
WE Proved vaccine data at least as effective in the real world as well as in medical trials.
Pfizer CEO Albert Bourla said people would “Likely” needed a third dose vaccine Covid-19 within 12 months of being fully vaccinated.
A dead member’s Of Brazil the military police have become A martyr among President Jair Bolsonaro’s radical supporters opposed to Covid-19’s restrictions.
India was again break its record for daily infections, 200,000 cases are reported on Thursday.
The I hit 100 million vaccine doses this week. But the title number masks the difference is increasing In the continent, as the richer, better-offered countries of Europe race ahead of the rest. Covid-19 was also revealed long-term discontent on salaries and conditions among European health workers.
On the news
‘No cops to the beat’ Well-known hedge fund director David Einhorn has The US financial regulators were devastating by allowing “quasi-anarchism” to explode in the marketplace by not acting on a wide range of controversial issues. The Greenlight Capital chairman argued that Congress should hold hearings on weak enforcement on a broader scale, rather than just about the GameStop situation. (FT)
The Indianapolis shooter killed eight people A human gunman Open fire outside and inside a FedEx facility near Indianapolis’s main airport on Thursday night left eight people dead and others injured. It is the country’s deadliest mass shootings since 10 people were killed on March 22 in a grocery shoot in Colorado and will renew US calls for reform of gun law. (CNN, FT)
Biden imposed tough new sanctions on Moscow US President Joe Biden has imposed it extensive punishment against Russia, including long-feared measures aimed at its government debt, in Washington’s confrontation with Moscow is intensely escalating. “The worst expectations did not come true,” said an investor. (FT)
Citigroup withdrew from most Asian consumer businesses Bank of America brought in its consumer operations 13 markets across Asia and Eastern Europe was put up for sale to increase profits. Competitor Bank of America Net income more than doubled in the first quarter. (FT)
The EU and UK sought to ease tensions in Northern Ireland UK Brexit Minister David Frost and Maros Sefcovic, his opposing figure in the European Commission, pledged on Friday for further negotiation on inspection and control of cargo through the Irish Sea. Meanwhile, Boris Johnson will urge Narendra Modi import tax cuts on British whiskey and automobile as the two leaders meet later this month. (FT)
Supporters of Aung San Suu Kyi proclaim ‘government of national unity’ The parallel government was formed by MPs from the deposed leader’s National League for Democracy party and will include representatives of Myanmar’s ethnic minorities in senior roles. It will seek foreign aid and diplomatic recognition as it is against the military coup. (FT)
Mercedes launched the attack on Tesla Mercedes has revealed a battery-powered version of the brand’s flagship S-Class saloon, designed to lure customers away from names like Tesla. The EQS is expected to go on sale later in the summer and will be followed by an all-electric E-Class pickup and two sports utility vehicles within two years. (FT)
Darkness on the European bond market Budding optimism about possible European coronavirus recovery spelling trouble for the region’s government bonds, broke up with the US Treasury after jointly driving volatile markets in 2020 as some investors moved beyond peak pessimism towards the background. continental economy. (FT)
Yoshihide Suga visits the White House The Prime Minister of Japan will become the first foreign leader to meet with US President Joe Biden. Yoshihide Suga has arrived under pressure in recent days from the White House to make a joint statement in support of Taiwan. (FT)
Ukraine talks Volodymyr Zelensky, President of Ukraine today will go to Paris to hold talks with French President Emmanuel Macron and German Chancellor Angela Merkel. Tension with increasing with deployed tens of thousands of the Russian army close to the Ukrainian border. (FT)
Raúl Castro is expected to cede power in Cuba Cuba’s last Castro is set leave the political stage on Friday when Fidel’s 89-year-old brother Raúl is expected to cede power to a younger generation during the country’s Communist party congress. (FT)
Prince Philip’s funeral Only 30 major family members will attend Prince Philip’s funeral at St George’s Chapel in Windsor Castle on Saturday. Despite his devotion to the Duke, some felt his death should be accelerate the modernization process of the monarchy. (FT)
What else we are reading
Wall Street banks are already ahead of the Europeans Historians may look back and conclude that an unexpected consequence of Covid-19 was that it strengthened the position of Wall Street banks, at least with European rivals, write Gillian Tett. (FT)
Another week, another data leak Is there anything left to be revealed about the extent and frequency with which the vast amount of personal data is leaked from Facebook? While the latest breach may look like a misdemeanor without any real victims, it raises more troubling questions as motivations and opportunities to gather personal information. is worth multiplying, Wrote Richard Waters. (FT)
Flying cars are finally about to take off What has long been stuck in science fiction are rapidly approaching reality. Even General Motors is in the game “Flying Cadillac”. However, as is the case with other new technologies, one of the biggest risks can come from premature deployment and public backlash. (FT)
The original old boss was an auction house hoax A film released this week claimed that experts who had reviewed “Salvator Mundi” prior to its 2017 release concluded that Leonardo was “only contributing” to the work. An auction house has the financial incentive to certify a painting as the only work by a famous artist but the reality is often more messy, John Gapper writes.
We love animals – so why do we treat them so badly? If you’re a non-human mammal in the 21st century, you have a greater chance of your ancestors living on a factory farm. Choose a wild animal – a lion, a puppy, a smoking bug – and they may have a greater chance than ever of being squeezed to death from the planet by the ever-expanding expansion of human. It’s time for this to change, Writes Henry Mance. (FT)
Video of the day
How London’s West End will recover Property reporter George Hammond looks at Travel and entertainment center like may recover from decommissioning after a sharp drop in arrivals puts homeowners, retailers and entertainment venues under stress. (FT)