Business

As France hosts a UN conference on protecting the ocean, NGOs have denounced the fact that large shipping companies are sponsoring the event, calling them some of the biggest polluters. The maritime transport sector accounts for 3 percent of global CO2 emissions, as dry cargo shipments have more than doubled since 2000. Plus, the US and China have started a new round trade talks in London, with Beijing's export control of rare earths firmly in focus. 

American and Chinese delegations are meeting in London for a new round of trade talks, with US tariffs and Chinese export restrictions on rare earth minerals at the top of the agenda. Also in this edition: Japan pushes its own trade talks with Washington, and French art lovers protest a construction project near the site of Paul Cezanne's most famous landscapes.

Shares in Elon Musk's electric car company Tesla plunged 15 percent after US President Donald Trump threatened to terminate government contracts and subsidies given to Musk's companies. The rapid escalation in the feud between the two men comes just days after Musk left his government job with a golden key from the president. Plus, a landmark trial opens in Paris against TotalEnergies, accused of "greenwashing" its fossil fuel activities. 

Japanese video game company Nintendo launched its newest console, the Switch 2, this Thursday. With gamers lining up around the world to collect their pre-orders as early as midnight, investors are hopeful the product will help continue to boost the company's share price, which has risen by over 30 percent since the start of the year. Also in this edition: South Korean cosmetic brands are looking to expand in the US market, despite tariff uncertainty.

The European Commission has given the green light for Bulgaria to adopt the euro on January 1, 2026, putting the country on course to become the 21st member of the single currency zone. Brussels says Bulgaria has now met all the criteria necessary to join the eurozone, including price stability and fiscal discipline. However, Bulgarians are divided and many protested outside the parliament this Wednesday.  

US import duties on steel and aluminium tariffs are now officially at 50 percent this Wednesday, after US President Donald Trump signed a directive bumping them up from 25 percent. The move has led some of the biggest exporters of metals to the US, such as Mexico, to ask for an exemption. Also in this edition: an iconic French glassware brand is celebrating its 80th birthday and going through a renaissance after it was transformed into an employee-owned co-op last year.

With voters turning out in record numbers, South Korea has elected liberal leader Lee Jae-myung to lead the country left in turmoil by the brief imposition of martial law by Yoon Suk Yeol. The nation of 51 million people has the world's lowest birth rate and is now a "super-aged" society. South Korea saw its GDP forecast downgraded this Tuesday by the OECD as the group revised down growth prospects for most of the world amid US President Donald Trump's trade war. 

The White House says US President Donald Trump will likely hold talks with Chinese leader Xi Jinping this week, following similar comments by top US officials over the weekend. This comes as tensions are ratcheting up again between the two countries, with both sides accusing the other of violating a trade truce deal agreed in Geneva last month. Meanwhile, the European Union is threatening countermeasures after Trump moved to double US tariffs on steel and aluminium imports to 50 percent starting on June 4. 

A US trade court has blocked a large number of President Donald Trump's tariffs, ruling that the US constitution gives Congress the exclusive authority to regulate commerce with other countries. The Trump administration has filed a notice of appeal, but now has 10 days to issue new orders which reflect the court's decision. Equity markets in Asia saw their shares rise on the back of the announcement.

As French President Emmanuel Macron met with his Indonesian counterpart Prabowo Subianto this Wednesday in Jakarta, French companies like mining giant Eramet and defence provider Dassault Aviation were hoping to capitalise on these diplomatic ties. Talking to the press, Macron said there would be new orders for Dassault's Rafales fighter jets. Also, we look at the German defence tech startups benefitting from the country's rearmament drive.