Real-time News

The National Highway Traffic Safety Administration (NHTSA) has recalled 14,575 Tesla vehicles in the United States.

France's INSEE business confidence index for May was 94, in line with expectations and unchanged from the previous month.

France's INSEE manufacturing confidence index for May was 102, below the expected 100 and the previous reading of 100.

French Finance Minister Lescourt: Industries with particularly high profit margins may face additional taxes.

Estonian Foreign Minister: The United States has the right to decide how many troops they deploy in Europe, but it is clear that Europe must strengthen its own defense capabilities.

On May 22, during the APEC Trade Ministers' Meeting on May 21, Minister of Commerce Wang Wentao and Papua New Guinea's Minister of International Trade and Investment, Maru, jointly signed the Framework Agreement on Enhancing Economic Partnership and issued a joint statement. According to the Framework Agreement, both sides agreed to conduct flexible and pragmatic negotiations on specific issues, negotiate institutional arrangements, further expand bilateral trade, and support Papua New Guinea in attracting investment, accelerating industrialization and agricultural modernization, and deeply participating in global industrial and supply chain cooperation. Both sides will launch subsequent module negotiations as soon as possible, with the aim of achieving mutually beneficial results.

UK retail sales fell 1.3% month-on-month in April, seasonally adjusted, according to official data released on Friday. This figure was largely expected to decline by 0.6% amid the ongoing conflict with Iran and rising energy costs. Compared to the same period last year, retail sales were flat, while economists had anticipated a 1.3% increase. An earlier survey on Friday showed that consumer confidence, which was already low, rose only slightly in May, with household willingness to buy large purchases at its lowest level in nearly a year and a half. Major UK retailers said the uncertainty surrounding the impact of the Iran war was putting pressure on their businesses and customers. They also said higher taxes and increased regulation were hindering their operations. Some companies bucked the trend. Fashion retailer Next reported better-than-expected first-quarter sales, and electronics retailer Currys slightly raised its profit forecast.

May 22 – German consumer confidence improved slightly as income expectations rebounded, but the impact of the Iran war continues to manifest. GfK's German Consumer Climate Index, released on Friday, showed a June forecast of -29.8 from -33.1 in May (the lowest reading since February 2023). Rolf Bürkl, head of the NIM survey, stated, "Consumer confidence has at least temporarily ended its downward trend and has recovered this month." He indicated that a significant improvement in income prospects, coupled with decreased savings and increased purchasing power, supported the consumer confidence index. The survey report stated that some geopolitical uncertainty appears to have been priced in by the market, as the Middle East conflict has not escalated further, while the German government has also shown signs of potential fiscal relief. However, Bürkl added that the impact of the conflict remains largely unchanged and continues to weigh on consumers.

UK retail sales fell 1.3% month-on-month in April, the largest drop since May 2025.

Germany's final seasonally adjusted GDP growth rate for the first quarter was 0.3%, below the expected 0.30% and the previous reading of 0.30%.

Germany's final first-quarter GDP annualized rate, adjusted for working days, was 0.4%, below the expected 0.30% and the previous reading of 0.30%.

The UK government reported a deficit of £9.547 billion in April, compared with a revised figure of £29.023 billion in April (originally £28.519 billion).

UK retail sales rose 0% year-on-year in April, seasonally adjusted, compared to a forecast of 1.30% and a revised 1.4% in the previous month (up from 1.70%).

UK core retail sales fell 0.4% month-on-month in April, seasonally adjusted, compared with expectations of a 0.30% decline and a revised 0.1% increase in the previous month (originally reported as 0.20%).

UK core retail sales rose 1.1% year-on-year in April, seasonally adjusted, below the expected 1.5% and the previous figure revised from 1.70% to 1.5%.