Good morning and welcome back. On the last day of the working week this is what we have for you:
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Eric Trump increases prospect of a political dynasty
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The private equity insurance Nexus
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In addition to coffee apps
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Test yourself in our weekly news quiz
Eric Trump, the 41-year-old son of the US President, said that “the political path” would be an easy “for a family dynasty”. In a broad interview with the Financial Times, the co-executive of the Trump organization also discussed his real estate acts around the world and tries to be a number of heights that his family of the family.
In pursuit: Asked if 2024 will be the last election with a Trump on the mood, Trump said: “I don’t know … will the time tell.” But if someone in the family decides to run: “The political path would be an easy way, which means that I could do it,” he said, adding that “other members of our family could do it too”.
On crypto: Trump said the family embraced digital currencies after he was avoided by traditional finances. He now describes it as a “very profitable company” and a “perfect hedge” for their real estate portfolio.
About benefit from the presidency: “If there is one family who has not benefited politics, this is the Trump family.” Read the full interview.
And this is what we keep an eye on today:
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Markets: The S&P 500 has been collected this week and is approaching a record high at the Hope of Peace in the Middle East, Trade agreements and interest rate letings in the US.
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Central banks: The Bank For International Settlements is holding its annual conference in Basel, while the US Federal Reserve publishes the results of its annual bank stress test.
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Economic data: The Commerce Department releases its price index for personal consumption spending, an accurate benchmark viewed in inflation, and the Brazilian statistical agency publishes unemployment figures for the quarter of March-May.
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Companies: Nike shares are expected to come to the opening of the trade after comments from Chief Executive Elliott Hill on a call with analysts last night with his turning plan for the sportswear group.
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White House: State Secretary Marco Rubio organizes the signing of a peace agreement between Rwanda and the Democratic Republic of Congo after the two countries agreed earlier this month to terminate decades of conflicts.
The three -day wedding of Jeff Bezos takes place in which city? Take our weekly news quiz.
Five more top stories
1. The American treasury has called on the congress to cancel the foreign revenge tax provision in Trump’s budget lawTurning a plan that Wall Street had made. Treasury Secretary Scott Bessent said that the measure was no longer necessary because he had secured concessions for American companies on the new OECD Global Minimum Tax Regime. A senate voice about the bill could be possible this weekend.
2. The US and China have signed a trade agreement, says Donald Trump without providing details. Last month the agreement builds ‘an extra concept’ after conversations between the two countries in Geneva. The Geneva Agreement included the considerably reduced rates for each other for 90 days, while they tried to insist an extensive trade agreement. There is more about what has been agreed.
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More China News: Shares in Beijing, which was established in Beijing, today reached a record high after it said that in three minutes it received 200,000 pre-orders for its latest electric vehicle.
3. One of the best lieutenants in Elon Musk has left his job at Tesla in the middle of diving of sales and a pivot point to autonomous driving, artificial intelligence and robotics. Omead Afshar, who was promoted last year for sales and activities in North America and Europe, has left his role, according to two people who are familiar with the decision. The departure of Afshar comes in a difficult time for Tesla.
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More news in the engine industry: Since 1949, British vehicle production collapsed at the lowest level in May in May.
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Rates on German cars: EU officials have warned Chancellor Friedrich Merz not to expect a British carve-out for the German car industry.
4. Heathrow has warned of a more “challenging” market for transatlantic flights caused by economic uncertainty in the US. The largest airport in the UK said it saw “early signs of softness” on business routes. This year’s comments from Heathrow follow warnings from various large airlines about slowing down the demand from American travelers.
5. Anna Wintour ends her for almost four decade term of office as editor of US Vogue, In which she changed a global fashion patient and herself from the magazine in one of the most influential figures in industry. The editor born in British will keep control of Vogue worldwide and a senior role in her parent company, she told the staff yesterday.
The Great Lecture
The Turkey economy, once tipped to repeat the success of the transformation of South Korea, is in a rut. The economic crisis of the country has removed the popular support of President Recep Tayyip Erdoğan and has endangered geopolitical ambitions and intended to remain in power.
We read too. . .
Graph of the day
Scientists said that “warmth umbrella organizations” and related atmospheric events behind extremely weather in the US and Europe this week since the 1950s had almost tripled in strength and duration. The temperatures passed 40 ° C in parts of the US as a so -called heat umbrella around east and central states. In the meantime, parts of New Mexico and Texas were alert for flash floods. Read more about the Heat Dome phenomenon.
Take a break of the news
Now feel queues in coffee shops nowadays? Increasingly, chains turn to mobile order through a new wave of apps to ensure that people can skip the line for their caffeine shot. But is it worth it? Claer Barrett is investigating the considerations for downloading coffee apps.
