Chinese battery giant CATL rose in its Hong Kong trading debut today after completing the world’s biggest listing this year — despite being blacklisted by the Pentagon. CATL, which supplies batteries to the likes of Tesla, Volkswagen and Mercedes, intends to use the funds for its continued overseas expansion, with many investors and governments regarding the allure of a firm at the global forefront of electric-vehicle technology outweighing the risks of getting caught up in the ongoing US-China standoff. CATL Chairman Robin Zeng strikes a gong at the listing ceremony in Hong Kong. Photographer: Paul Yeung/Bloomberg Key Senate Democrats urged the Trump administration to revisit artificial-intelligence deals with Saudi Arabia and the United Arab Emirates, saying that expanded sales of AI chips to the Middle Eastern countries risk exposing advanced technology to China and Russia. China meanwhile accused the US of undermining trade talks in Geneva after the Commerce Department warned that using Huawei’s AI chips “anywhere in the world” would violate American export controls. UK Prime Minister Keir Starmer heralded a “landmark deal” with the European Union yesterday that he billed as a reset moment for relations under his government. Still, many details remain unresolved and Brexit never seems to end. China is at the same time giving European business leaders the warmest welcome in years in an effort to strengthen ties with the bloc as Beijing seeks to counter Trump’s tariff pressure and stabilize its slowing economy. A Republican proposal to tax remittances would deliver an economic blow to some of the US’s poorest neighbors, including a close Trump ally. The levy may directly hit payments that represent about one-fifth of the gross domestic product of El Salvador, where President Nayib Bukele has formed a strong alliance with the White House by accepting deportees to be imprisoned. A MoneyGram office in El Salvador. Photographer: Camilo Freedman/Bloomberg Polish Prime Minister Donald Tusk and his allies have less than two weeks to convince voters to stick with their ruling coalition after a surge in support for nationalists in a presidential election. In what’s turned into a referendum on the government’s 18 months in power, Tusk ally Rafał Trzaskowski will face Law & Justice opponent Karol Nawrocki in a runoff on June 1. Romania’s finance chief said a new government will need to move quickly to fix state finances even after the election of Bucharest Mayor Nicușor Dan as president ahead of a hard-right nationalist helped soothe market turmoil. India is discussing a US trade deal structured in three tranches and expects to reach an interim agreement before July, when Trump’s reciprocal tariffs are set to kick in, sources in New Delhi say. The US Senate confirmed Charles Kushner — the father of Trump’s son-in-law, Jared Kushner — to be ambassador to France as the president turns to his familial ties to relay his administration’s diplomacy at international posts. Trump plans to go to the Capitol today to urge fractious House Republicans to overcome divisions and unite behind his signature tax-cut legislation. Tune in to our live coverage of the Qatar Economic Forum 2025, including highlights of today’s opening keynote address by Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani. |