Economy

US-China Relations
China confirms Trump meeting – seeks “more stability”

China confirms Trump will visit this week and states that the country is ready to work with the US to create “greater stability”, reports AFP.

– China is willing to work with the US in a spirit of equality, respect and mutual benefit to expand cooperation, manage differences and create greater stability, said Chinese Foreign Ministry spokesman Guo Jiakun at a press conference.

The White House announced Trump’s visit several weeks ago, and now China’s Foreign Ministry has confirmed that it will take place from Wednesday to Friday.

Middle East Crisis  Economic Impact
Airlines cut prices – want to counteract lower bookings

European airlines are cutting prices on summer flights to counteract a delay in bookings due to customers’ jet fuel concerns, reports FT.

Consumers are holding off on booking trips after repeated warnings that jet fuel rationing may become necessary after the Strait of Hormuz was closed.

We are in a sense living in a time similar to the one we saw during the pandemic, Turkish Airlines CEO Murat Şeker told investors.

– There is still a lack of long-term predictability.

According to FT analysts, prices for a week-long trip in July have fallen for 27 of Europe's 50 most popular routes to the Mediterranean.

Gaming boom
Nintendo fell in Tokyo – lowered forecast worries investors

Nintendo took a hit on the Tokyo stock exchange and fell more than 8 percent on Monday. This after the gaming giant warned that sales of its flagship console Switch 2 are expected to decline during the financial year, writes CNBC.

The company now expects to sell 16.5 million units in the fiscal year ending in March 2027, compared to the previous forecast of 19.86 million.

On Friday, the company also announced that it is raising prices for the console in several markets globally, after memory chip prices rose sharply.

Game company CEO Serkan Toto at Kantan Games points out that sales for a new game console normally increase during the first year.

– The biggest reason is of course the price increase, which Nintendo believes will dampen demand, he says.