Sofema Aviation Services to Host EASA - Compliant Aviation Compliance Senior & Lead Auditor Training
Sofema Aviation Services (SAS) will deliver a 5-day EASA Senior & Lead Auditor Training from 22–26 Sep 2025 at the Royal Aeronautical Society, London.
SOFIA , BULGARIA , BULGARIA, May 19, 2025 / EINPresswire.com / -- Sofema Aviation Services (SAS) will deliver a five-day EASA-Compliant Aviation Compliance Senior & Lead Auditor Training Event from 22 to 26 September 2025. The event will take place at the Royal Aeronautical Society, No. 4 Hamilton Place, London. An early registration rate is available until 22 June 2025.
The program is designed for experienced aviation compliance professionals seeking to enhance their auditing capabilities and leadership skills within Quality and Compliance Monitoring Systems. It is aligned with EASA Part CAMO requirements and supports the transition from the legacy Part M Subpart G framework.
Training will be led by Steve Bentley, FRAeS, CEO of Sofema Aviation Services, who brings extensive experience in EASA regulatory compliance and auditing practices.
Topics to be covered include:
EASA-compliant auditing techniques
Compliance Monitoring Systems across multiple domains
Planning, conducting, and managing internal and external audits
Risk-based oversight strategies and performance evaluation
Leadership development for Senior and Lead Auditors
Application of group workshops, case studies, and scenario analysis
This training is intended for Compliance Managers, Quality Managers, Senior and Lead Auditors, Continuing Airworthiness Managers, and professionals preparing for senior compliance roles.
The venue, No. 4 Hamilton Place, is a Grade II listed Edwardian building in London's Mayfair district, offering a formal setting with professional conference facilities.
For additional details, refer to the Sofema Aviation Services official website or to [email protected]
Steve Bentley
Sofema Aviation Services
[email protected]
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'And they continue to be engaged in those discussions and this letter was simply to remind the countries that the deadline is approaching and the president expects good deals and we are on track for that. US stocks are pushing higher today, after job openings in the world's largest economy rose unexpectedly in April. Some investors took the figures as a sign of American resilience in the face of uncertainty arising from Donald Trump's trade wars. The US Labor Department reported that employers posted 7.4m vacancies in April, up from 7.2m in March. Economists had expected openings to drift down to 7.1m. Currently, the S&P 50 is up 0.6pc, the Nasdaq is up by 1.1pc and the Dow Jones is up by 0.4pc. Britain's blue-chip stock market ended slightly higher on Tuesday, as defence stocks climbed after the government pledged heavy defence spending and heavyweight energy stocks tracked crude oil prices higher. The FTSE 100 closed up 0.2pc, while the FTSE 250 mid-cap index ended 0.1pc lower. The aerospace and defence sub-index advanced 2.5pc to an all-time high after Sir Keir Starmer pledged the largest sustained increase in British defence spending since the end of the Cold War. Oil giant Shell gained 1.7pc, while BP added 0.6pc as crude oil prices climbed close to 2pc. On the downside, miners of both industrial and precious metals fell more than 1pc each as prices of copper and gold came under pressure. Despite Tuesday's gains, sentiment remained shaky as investors looked out for any developments on the trade front following Donald Trump's Friday announcement that he would increase tariffs on imported steel and aluminium from 25pc to 50pc. China needs to stop 'over-manufacturing' if it is shore up its economy and curtail problems caused by its real estate sector, the US Treasury secretary has said. In comments reported by Bloomberg, Scot Bessent said: 'They either want to be a reliable partner to the rest of the world, or they don't. 'They are in the midst of a large real estate - I won't be alarmist and say crisis - but a large real estate over-build and the way for them to stabilise their economy is not to export deflation and excess products to the rest of the world. 'The way to do that is through a level of fiscal stimulus and to stop over-manufacturing, and get on a sound footing for the consumer economy.' It is up to the US to get relations back on to 'the right track', China's foreign minister has said. Wang Yi told David Perdue, the US ambassador to China, that the US needed to create better conditions for talks. After the Geneva talks, China has 'conscientiously and strictly' implemented the consensus reached by both sides, but it is 'regrettable that the US recently introduced a series of 'negative' measures', which China firmly opposes, Mr Wang told the ambassador. Relations between the two countries are at a critical juncture, and dialogue and cooperation are 'the only correct choice', Mr Wang said. Donald Trump on Friday accused China of violating a deal to roll back tariffs and trade restrictions, and the US has ordered curbs on chip design software and other shipments to China. US stock markets have edged higher this afternoon, helped by gains in Nvidia and other chipmakers. It came as investors awaited possible negotiations between the United States and its trading partners for more clarity on Washington's tariff plans. The S&P 500 is up 0.4pc, the Dow Jones is up 0.2pc and the Nasdaq is up 0.7pc. Nvidia is up 3pc, while America's stock market index of chipmakers, the Philadelphia Semiconductor Index, is up 2.1pc. President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said yesterday, days after Mr Trump accused China of violating an agreement to roll back tariffs and trade restrictions. The Trump administration wants countries to provide their best offer on trade negotiations by tomorrow as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks. Mr Trump said last week he planned to double tariffs on imported steel and aluminium to 50pc starting on Wednesday, fuelling fresh concerns among investors and hampering global stocks as they approached record highs. A softening of Trump's harsh trade stance allowed a recovery in stocks in May, with the benchmark S&P 500 and the tech-heavy Nasdaq posting their biggest monthly percentage gain since November 2023. The S&P 500 remains less than 4pc away from its record peak touched in February. 'The markets are still trading with a decent level of uncertainty because they're not sure how everything's going to turn out,' said Chris Zaccarelli, chief investment officer at Northlight Asset Management. 'Having a best and final offer deadline and a framework to move forward should be positive for the markets.' A Tata Steel director has told MPs that the EU is moving faster to defend the industry in response to US tariffs than the UK, with a cost to the industry of up to £150m a year. Russell Codling said his company is 'extremely exposed' to divergence in prices since the US imposed new tariffs. He said: 'We can see where our prices in the UK have followed similarly those in the EU for many, many years. At the moment, we're seeing them diverge, and the divergence is leading to currently something in the order of about £100m to £150m revenue a year loss in the UK, in comparison with Europe. 'So it is not just for us making sure that this deal (with the US) is the right deal, it is also about making sure that the trade protection measures are the appropriate ones in the UK, and they are at least as good as other trading partners around the world. When asked if the UK needs to go faster on the issue, Mr Codling said: 'Absolutely.' Chrysa Glystra, an economist at UK Steel, said the industry's working assumption was that the 50pc tariffs would apply to British firms as well, as talks about finalising a trade deal with the US continue. The existing 25pc tariffs have continued to apply to UK exports despite the announcement of an agreement between Sir Keir Starmer and Donald Trump early in May. Ms Glystra warned that the effects of the rate doubling would be 'extremely damaging', adding to pressure on businesses that have already seen orders put on hold due to uncertainty about when a deal will take effect. She said: 'You would assume we are in a better place than other countries because we have a deal in principle with the US, but in some ways it is actually making things worse because customers are anticipating there will soon be zero tariffs soon and so are not placing those orders with steel producers before that happens. 'Putting the tariffs up to 50pc will just end up being prohibitive. You are probably just going to see a complete pause in orders until further notice.' The Brazilian president has vowed to take action against the US if no trade deal is agreed. Luiz Inacio Lula da Silva told a press conference in Brasilia: 'We could seek the WTO (World Trade Organisation) or take measures of reciprocity.' Donald Trump imposed a standard 10pc tariff of imports from Brazil, but higher levies on steel and aluminium exports, both of which Brazil sells. US trade representative Jamieson Greer was coy when asked if the 50pc steel tariffs would go ahead on Wednesday. Speaking French with reporters in Paris, he said: 'We'll see.' Mr Greer will meet with Business Secretary Jonathan Reynolds later. Ahead of his three-day trip to Paris and Brussels, Mr Reynolds said that he recognised that Britain's relationship 'with G7 allies and EU counterparts must continue to evolve and deliver a better trading environment for our businesses and exporters'. After meetings with G7 and OECD counterparts in Paris, the Business Secretary will hold talks with EU trade commissioner Maros Sefcovic. Britain struck deals with the US and the European Union – its two biggest trading partners – last month, but both are political pacts rather than formal trade agreements, and the details of their implementation have not been set out. US job openings rose unexpectedly in April, showing that the labour market remains resilient in the face of uncertainty caused by Donald Trump's trade wars. Employers posted 7.4m job vacancies in April, up from 7.2m in March, according to the Labor Department. Economists had expected opening to drift down to 7.1m. But the number of Americans quitting their job — a sign of confidence in their prospects — fell, and layoffs ticked higher. Openings remain high by historical standards but have dropped sharply since peaking at 12.1m in March 2022, when the economy was still roaring back Covid lockdowns. The American job market has remained strong in the face of high interest rates engineered by the Federal Reserve in 2022 and 2023 to fight a resurgence of inflation. The economic outlook is uncertain, largely because of President Trump's economic policies, including huge taxes on imports, purges of federal workers and the deportation of immigrants working in the United States illegally. The Labor Department is expected to report Friday that employers added 130,000 jobs last month, down from 177,000 in March. The unemployment rate is expected to stay at a low 4.2pc. Wall Street's main indexes were lacklustre at the opening bell as investors awaited possible negotiations between the United States and its trading partners. The Dow Jones Industrial Average opened flat at 42,304.5. The S&P 500 rose 2.6 points, or less than 0.1pc, at the open to 5,938.56, while the Nasdaq Composite rose 46.0 points, or 0.2pc, to 19,288.659 at the opening bell. The FTSE 100 moved higher in afternoon trading despite caution over unpredictable US trade policies. The UK's blue-chip index was up 0.2pc, while the mid-cap FTSE 250 gained 0.1pc. The rise comes despite the Organisation for Economic Cooperation and Development (OECD) trimming its global growth outlook and warning that Rachel Reeves should increase taxes and cut public spending to tackle its downgraded outlook for Britain. Investors were already unsettled by Donald Trump's Friday announcement to increase tariffs on imported steel and aluminium from 25pc to 50pc. It is unclear if British steel-makers will be hit. Industrial metal miners bore the brunt of the trade jitters, falling as much as 2.7pc, as London copper prices lost ground on concerns of possible US tariffs on the metal. Losses in financial stocks also weighed on both the indexes, with an index tracking the UK banks dropping as much as 1.6pc. On the flip side, defence stocks rose for a second consecutive day, up as much as 2.5pc, after Sir Keir Starmer announced £15bn in spending to bring Britain up to 'war-fighting readiness'. Chemring Group jumped as much as 8.9pc to the top of the FTSE 250 after the defence contractor posted the highest-ever order book for the six months ended April 30. More than three-quarters of UK businesses are worried about tariffs and global trade uncertainty and have already taken pre-emptive measures to offset disruption, according to a new survey. The latest Barclays business prosperity report found that 79pc of companies are concerned about the mounting global trade war sparked by Donald Trump's tariffs. The poll of 1,000 micro, small and larger firms – which was conducted last month – revealed that nearly half (48pc) have already begun changing their US operations or supply chains to help offset any possible hit. It showed that 14pc have already scaled back investment in the US market, with 15pc pausing or cutting spend in America. The research suggests that almost half of firms (44pc) were increasing international trade over the past year, of which 59pc reported doing so with Europe and Central Asia, far outweighing those growing trade with the US (18pc) and Asia-Pacific (44pc). Larger companies in particular are optimistic that the possible upsides from America's tariff hikes will outweigh the initial impact on profit margins, demand and exports, according to the report. But more than a third (37pc) are still bracing for a hit from US tariffs on their overall business prospects. Matt Hammerstein, chief executive of Barclays UK corporate banking, said: 'Given the widespread uncertainty in the international trade environment, it's unsurprising that businesses are taking proactive steps to adapt to these global pressures.' Downing Street would not say whether British steel exporters would be hit with 50pc tariffs from the US from Wednesday, despite an agreement to eliminate the charges. The Prime Minister's official spokesman said: 'It's up to the United States to make their own policy announcements.' The Business Secretary will be attending a meeting of trade ministers in Paris later today. Jonathan Reynolds is expected to meet with the US trade representative Jamieson Greer to discuss implementation of the trade agreement that we reached with the United States. The Prime Minister's spokesman added: 'You will remember that that agreement is committed to removing tariffs on steel and aluminium to save jobs and help the UK industry. 'That would mean that once that deal has been implemented, the steel industry will not pay tariffs for the majority of steel products that they're exporting to the US.' Asked whether it was 'embarrassing' that steel-makers could face a worse situation despite the announcement of the deal last month, he said: 'I'm not going to get ahead of announcements for the United States. 'But what you've seen so far is the US and the UK agree a landmark deal across sectors to protect British industries – cars, steel, aluminium – and you've seen the welcoming statements the industries have made in support of the agreement. 'When it comes to implementation of the agreement, that work is ongoing.' Donald Trump's plans to hit foreign businesses with taxes if they take money out of America could trigger a plunge in the dollar, an insurance giant has warned. The chief investment officer of Allianz said it would be a 'big scary moment' if proposals contained within Mr Trump's 'big, beautiful' tax and spending bill come into effect. The so-called Section 899 powers, which have been dubbed a 'revenge' tax, would allow the President to impose levies of up to 20pc on individuals and companies from countries deemed to have 'discriminatory' tax policies. Should it come into force, Ludovic Subran of Allianz predicted a 10pc sell-off in stocks and a 5pc plunge in the dollar, as well as a half percentage-point increase in US Treasury yields. 'I don't think markets are pricing in today a full implementation of Article 899, so that could actually spook markets vividly,' Mr Subran told Bloomberg TV. He said the measure would be a form of 'capital control', adding the impact could 'completely annihilate what he's trying to do on his policy agenda'. The dollar has fallen more than 7pc against the pound so far this year, making it worth 74p, amid concerns that President Trump's trade policies are putting US exceptionalism at risk. US Treasury yields have also risen – raising the cost of federal borrowing – amid doubts about the sustainability of American public finances, and questions about the supremecy of the dollar as the global reserve currency. Dethroning the dollar as the world's reserve currency would destabilise the global economy, Andrew Bailey has warned. The Governor of the Bank of England issued the warning as investors flee the dollar and abandon investments in US government debt in fright over Donald Trump's tariffs policies. It has raised fears that the world's largest economy could lose its status as the currency of choice in financial markets. Speaking to MPs on the Treasury Select Committee, Mr Bailey said: 'Frankly, I don't think any of us should want to see that happen, because that would be quite a destabilising moment. 'I don't see that happening at the moment, I think we have to watch it, but I don't see that happening at the moment.' The US has long-benefitted from what is known as its 'exorbitant privilege', as holding the world's reserve currency gives it access to enormous financial flows. If that comes into doubt, it could result in a funding crunch in the US, and undermine markets which have come to rely on the dollar. Mr Bailey added: 'The dollar has had [reserve currency status] ever since it took it over from us. That is also increasingly embedded in markets - if you think about the role US Treasuries perform as the safe asset in markets, and therefore as collateral, as security, it would take a lot to change that.' But the Governor told the MPs that startling moves in markets may reflect over-optimistic investors cutting back their exposure to the US. That is a much smaller shift than abandoning the dollar altogether. He said: 'It does indicate that non-US investors are reassessing their view of the amount of US risk they want to take. Quite a few of those were probably overweight US risk, they had a very optimistic view of the US economy, not unreasonably, and are reassessing that.' The pound has risen 11pc against the dollar to $1.35 since Mr Trump's inauguration in January. Mr Bailey also noted that the Trump administration has responded to the most 'acute' crunches in markets in recent months, offering a 90-day reprieve on some of the worst tariffs and choosing not to seek to oust Jerome Powell, head of the Federal Reserve. US stock markets were on track to fall at the opening bell as Donald Trump's administration pushed countries to make offers in trade negotiations. White House officials want to accelerate talks ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters. White House press secretary Karoline Leavitt said on Monday that President Trump and Chinese leader Xi Jinping would speak this week, days after the US leader accused China of violating an agreement to roll back tariffs and trade restrictions. Meanwhile, the Organisation for Economic Cooperation and Development (OECD) revised its global growth forecast down from 3.1pc to 2.9pc for 2025, blaming the effects of Trump's trade war. Kathleen Brooks, an analyst at XTB, said: 'Market sentiment cannot find an anchor since trade policies remain fluid.' Never the less, the S&P 500 is less than 4pc away from its record highs touched in February following the sharp drop and then recovery after his 'liberation day' tariffs on April 2. In premarket trading, the Dow Jones Industrial Average and S&P 500 were down 0.3pc, and the Nasdaq 100 was down 0.2pc. Andrew Bailey said the recent trade agreement struck between the UK and the US was 'in the circumstances, a good thing'. However, the Governor of the Bank of England added: 'It still leaves the average tariff level higher than it was pre all this starting, and that's important to bear in mind. 'The UK is a very open economy.... so what affects our economy is not just whatever trade agreements we do, but also what the rest of the world does. 'You could make this point not just about China but also about the EU.' Mr Bailey reiterated his call for the UK to strengthen trade with the EU post-Brexit, telling the committee: 'I do strongly take the view that if we can rebuild trade with the EU, because they are our largest trading partner, then that's a good thing.' Andrew Bailey warned Britain would have to wait 'some while' before it felt any benefits from Sir Keir Starmer's trade agreements with the EU and India. The Governor of the Bank of England was asked what he thought of the growth and inflation implications of the UK-EU agreement made last month. He told the Treasury Select Committee: 'I see these in a slightly longer context. If we go back to Brexit for a moment… in the short run, making an economy less open will have a negative effect. 'In the longer-run, the real economy can adjust. Part of that adjustment is trade agreements with other parts of the world. 'The India trade agreement has been in the works for a very long time, so it's good to see it materialising. 'The effects of those agreements tend to take quite a while to come through. It requires adjustments going on in trade patterns, in real economy patterns. 'So in the long run that's what we need to see because it will help the economy to adjust and will help the development of markets. But it will take some while to come through.' The Governor of the Bank of England warned that policymakers would have to 'watch very carefully' the reaction of stock markets in the event of a downturn in the world economy caused by Donald Trump's tariff onslaught. Andrew Bailey said there had been 'a lot of volatility' in stock markets since the US president's 'liberation day' tariffs. He warned of the risks caused by the combination of 'rising government bond yields, falling currency and falling equity markets', which he said had occurred twice in the period following the announcement of 'reciprocal' tariffs on April 2. He acknowledged that stock markets had recovered after the initial tariff shock but warned this meant that 'equity markets clearly are obviously discounting views of the future'. He said: 'They appear to be discounting a more optimistic view of how this will pan out. What we need to bear in mind is, therefore, that their view is conditioned on that and obviously if things change then they will respond.' Mr Bailey told the Treasury Select Committee of MPs that he did not think there had been a 'real serious threat to financial stability coming out of this'. Both of the occasions when there had been 'quite acute' period of rising government bond yields, falling currency and falling equity markets, there had been significant U-turns in US policy, the Governor indicated. He pointed to the 90-day pause in tariffs and Mr Trump's decision to quell of rumours that 'concerned the position' of Jerome Powell, the chairman of the Federal Reserve who the US president had suggested could be fired for failing to cut interest rates. Mr Bailey told MPs: 'What we haven't see however, fortunately, is a real serious threat to financial stability coming out of this.' Andrew Bailey warned that the global tariff war would hit global growth but said it was less clear how it would impact inflation. The Bank of England governor told MPs that the 'impact of fragmenting the world trading system is negative for world growth'. He said tariffs 'increases uncertainty' adding that it 'tends to cause delays and putting off of investment decisions'. However, the said the 'impact on prices is much more ambiguous'. He warned that lowering global trading activity could, lower inflation but added that if tariffs start 'disrupting supply chains that could have the opposite effect'. He said that would 'put some upward pressure on inflation'. 'US-China is the centre of this whole thing,' he said, adding that 'the questions of where that's going... is very important'. The Governor of the Bank of England said interest rates would continue to fall in the months ahead. Andrew Bailey told the Treasury Select Committee of MPs: 'I think the path remains downwards but how far and how quickly is clouded by a lot more uncertainty.' The Bank of England has cut interest rates twice this year to 4.25pc. Money markets indicate there is a 63pc chance it will cut borrowing costs twice more before the end of the year. Rate setters on the Bank of England have tried to justify why they voted the way they did during last month's interest rate decision. Catherine Mann said the Bank of England should try to 'cut through the noise created by volatility' as it decides what to do with interest rates. The rate setter said it was important to send a clear signal to financial markets about the direction of travel. She voted for a larger half a point reduction in rates earlier this year, before voting for rates to be kept on hold in May. Swati Dhingra told MPs that she felt 'keeping policy gradual is a good thing', despite having voted for a larger half a point reduction in rates at the last meeting. Andrew Bailey said he thinks Britain's jobs market 'has loosened somewhat', which was a key reason why he voted for a cut in interest rates last month. The Governor of the Bank of England said there had been 'no particular surprises' on the direction of inflation, despite the upending of global trade relationships by US president Donald Trump. His colleague Catherine Mann, an external member of the Monetary Policy Committee, disagreed and said she did not think that inflation was consistent with hitting the 2pc target. Deputy governor Sarah Breeden told the Treasury Select Committee that she thought the labour market was loosening as she voted for a cut to interest rates. The Bank of England cut interest rates because inflation is continuing to fall and amid a 'very strained' trade policy situation, according to one of the Bank of England's policymakers. Swati Dhingra said members of the Monetary Policy Committee (MPC) broadly agreed that the 'disinflation process has continued'. She was appearing alongside the Governor of the Bank of England in front of MPs to discuss the path for interest rates. Andrew Bailey and his colleagues on the MPC, which sets rates, are appearing before the Treasury Select Committee. Inflation in the eurozone fell to its lowest level since September 2024, official data showed, days before the European Central Bank is expected to cut interest rates. Consumer price increased by 1.9pc in May in the single currency area, which was lower than the 2pc expected by economists, following a sharp decline in services inflation from 4pc to 3.2pc. Overall inflation was also lower than 2.2pc recorded in April, passing back below the European Central Bank's 2pc target, the EU's official statistics agency said. Jack Allen-Reynolds of Capital Economics said: 'May's steep decline in services inflation, to its lowest level in more than three years, confirms that the previous month's jump was just an Easter-related blip and that the downward trend in services inflation remains on track. 'We expect inflation to fall further in the coming months, leaving the headline rate comfortably below 2pc in the second half of the year.' He added: 'This won't have much of a bearing on Thursday's ECB decision, which already looked almost certain to be a 25bp cut. 'But May's inflation data strengthen the case for another cut at the following meeting in July.' Rachel Reeves has one eye on the bond market and the other on her own backbenchers. The Chancellor has been forced to spend the last few weeks focusing on rebellions over benefit cuts and spending plans that she must stick to if she wants to balance the books. Now, though, her authority is starting to be undermined much closer to home. The latest challenge is not coming from investors, the Red Wall or Reform UK. Instead, it is the man next door – her partner at the top of the Government – the Prime Minister. Trade negotiations between the US and India are making progress and a deal could be finalised soon, one of Donald Trump's top officials said, as both sides push to conclude talks ahead of a July deadline. US commerce secretary Howard Lutnick said: 'You should expect a deal between United States and India (in the) not-too-distant future because I think we have found a place that really works for both countries.' He later posted a short video on X of his remarks at the annual summit of the US-India Strategic Partnership Forum in Washington, saying 'We have a great relationship between the countries. I'm optimistic for a trade deal soon that will benefit both nations.' India's trade ministry declined to comment on the timeline. However, Rajesh Agrawal, India's chief negotiator for talks with the US, said last week that trade talks between the two countries were progressing well, and that a 'good outcome' was expected soon. A US trade delegation is scheduled to visit New Delhi on June 5-6 for further discussions. Shares were mostly lower after the slowdown in the dominant manufacturing sector in the world's second largest economy. The FTSE 100 was down 0.1pc, with the Cac 40 in Paris down 0.2pc and the Dax in Frankfurt dropping 0.2pc. Markets in China advanced, with the blue-chip CSI 300 up 0.3pc, despite data showing manufacturing activity slowed unexpectedly in May, even after Beijing and Washington paused their tariff war. Stephen Innes of SPI Asset Management said the situation is 'a body blow to the backbone of China's economy: small and mid-sized exporters now caught in a brutal vice grip between faltering global demand and a Washington-led tariff regime that's more carrot-and-stick diplomacy than ceasefire'. Rachel Reeves has been urged to increase taxes and cut public spending as Britain's growth was downgraded amid rising prices and the damage from Donald Trump's trade war. The Organisation for Economic Co-operation and Development (OECD) said 'momentum is weakening' in the economy, as they told the Chancellor that efforts to cut Government borrowing must be 'stepped up'. It poses a critical challenge to Ms Reeves as she must contend with growing demands for further big increases to public sector pay, the need for more defence spending and the Prime Minister's about-turns on efforts to control benefits spending. Government borrowing costs have fallen after a strong auction of Japanese debt eased concerns about the bond markets. The 10-year UK gilt yield – a benchmark for the cost of servicing the national debt – fell five basis points to 4.61pc. Italian 10-year bond yields fell to three-month lows at around 3.48pc, while French yields also fell to the lowest since early March, touching 3.15pc. Analysts said the fall in yields was supported by a strong government bond auction in Japan. Recent tepid auction results for longer-dated debt in the United States and Japan have raised concerns about the ability of major economies to sell their bonds against a backdrop of concern about high debt levels. But on Tuesday 10-year Japanese government bond (JGB) yields fell after results of an auction of the securities saw the highest demand since April last year Stock markets in London opened higher despite the renewed risks of trade turmoil between the US and China. The FTSE 100 rose 0.2pc to 8,795.42 despite figures showing a slowdown in the dominant manufacturing sector of the world's second largest economy. The mid-cap FTSE 250 climbed 0.1pc to 21,040.96. China's own statistics are painting a rosier picture of the performance of the world's second largest economy. Official data from the National Bureau of Statistics on Saturday showed a less severe contraction in the factory sector last month. The official manufacturing PMI rebounded from 49.0 in April to 49.5 last month, while the independently calculated data by S&P Global and Chinese business outlet Caixin fell to 48.3 in May, the lowest since September 2022. Meanwhile, China's state broadcaster reported that people took more passenger trips during this year's Dragon Boat Festival holiday. The estimated 657 million journeys was up 3pc compared to last year. The indicator is closely watched as a barometer of Chinese consumer confidence. Consumption in the world's second-largest economy has suffered amidst sputtering growth and a prolonged property crisis, while uncertainty from the US-China trade war has also affected consumer confidence. The Dragon Boat Festival took place from May 31 to June 2–- and is celebrated throughout the country with local dragon boat races and many people taking the opportunity to have a short holiday. There were an average of 219 million domestic trips per day, broadcaster CCTV said late on Monday, with both China's rail and air volumes seeing robust passenger flow. Cross border trips rose 2.7pc to 5.9 million, with a total of 231,000 foreign nationals entering the country visa-free during the holiday. China has been expanding its visa policy, with citizens of 43 countries granted visa-free access, while visa-free transit for up to 240 hours in China is available for 54 countries. Chinese factories suffered their sharpest fall in new orders since September 2022, a closely watched survey showed, as bosses grappled with Donald Trump's tariff war. Manufacturing activity hit a nearly three-year low in May, according to the Caixin China General Manufacturing PMI. The reading of 48.3 signalled an unexpected contraction in the powerhouse of China's economy. Zichun Huang of Capital Economics said: 'The surprisingly sharp fall... means that the survey data now point to a loss of economic momentum last month. 'Domestic headwinds (are) more than offsetting the boost from the US-China trade truce.' China and the United States agreed last month to temporarily halt most tit-for-tat tariffs on each other's goods, providing some much-needed relief to global markets. However, that agreement has been thrown into doubt after President Trump and Beijing accused each other of violating the terms of the deal in recent days. Wang Zhe, senior economist at Caixin Insight Group, said the slowdown was linked to 'sluggish external demand, which fell for a second straight month'. Thanks for joining me. China's factory orders dropped last month at their sharpest pace since September 2022 amid Donald Trump's trade war. The closely watched Caixin China General Manufacturing PMI showed manufacturing activity unexpectedly contracted last month. Net zero jobs plans are fundamentally flawed, Miliband warned | Energy Secretary urged to slash taxes as jobs in offshore wind fail to keep pace with oil and gas losses Furious Boohoo and Debenhams customers waiting a month for refunds | Delays come as retailer attempts to refinance debts against a backdrop of falling sales M&S boss's pay jumps to £7m as retailer battles cyber attack | Stuart Machin's salary increased by 39pc just before company's customer data breach Tim Wallace: The European plot to topple the dollar | Trump's chaos is fuelling dreams of euro hegemony – but realising them is easier said than done Matthew Lynn: Customer service is collapsing in high-tax Britain | Ruinous Labour policies are forcing businesses to obsess over costs to the detriment of us all Asia shares edged slightly higher while the dollar fell to a six-week low amid confusion about the outlook for US trade policy. Donald Trump and Chinese leader Xi Jinping will probably speak this week, White House Press Secretary Karoline Leavitt said on Monday, days after Trump accused Beijing of violating an agreement to roll back tariffs and trade restrictions. The call between the two leaders will be closely watched by markets, which have been roiled by tariff-induced trade tensions between the world's two largest economies that continue to simmer. Data on Monday showed US manufacturing contracted for a third straight month in May and suppliers took the longest time in nearly three years to deliver inputs amid tariffs. China's factory activity in May also shrank for the first time in eight months, a private-sector survey showed on Tuesday, indicating US tariffs are starting to hurt manufacturers. MSCI's broadest index of Asia-Pacific shares outside Japan reversed early losses to last trade 0.4pc higher, while Japan's Nikkei rose 0.1pc. On Wall Street, the Dow Jones Industrial Average rose 0.1pc, to 42,305.48, the S&P 500 rose 0.4pc, to 5,935.94, and the Nasdaq rose 0.7pc, to 19,242.61. In the bond market, the yield on benchmark 10-year US Treasury notes rose to 4.450pc from 4.425pc late on Sunday. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
USA Today
an hour ago
- USA Today
A new Lululemon dress is stirring up the internet. Here's why
A new Lululemon dress is stirring up the internet. Here's why "Is this just for the label? Who walks into Lululemon and they're like, 'Oh my gosh, that's the cutest summer dress I've ever seen?'" TikTok creator Dasie said. Show Caption Hide Caption Steven Madden to buy UK-based luxury shoe brand Kurt Geiger The world of fashion footwear has a new pair, as shoe designer Steven Madden said it would buy UK-based luxury brand Kurt Geiger. The all-cash deal, valued at $360 million, expands Steve Madden's presence in international markets. The internet is going crazy over a new dress, and no, it is not "the dress" from 2015. Behind the hysteria is a multi-functional athleisure maxi skirt-dress duo from trendy sportswear brand Lululemon. Lululemon's new 2-in-1 Maxi Dress, a basic one-color dress that can be worn as an ankle-length maxi skirt or strapless dress, has garnered mixed emotions from social media users. Some believe the nearly $150 dress is worth every penny because of its versatility, enough that the dress is sold out in every size except extra large, and others think it's undeserving of the hype. Interested to hear what people think? Here's what the internet is saying about the viral Lululemon 2-in-1 Maxi Dress. Viral trends: 10 years later, 'the dress' still divides us. But we understand a lot more about why. How much does Lululemon's 2-in-1 Maxi Dress cost? The 2-in-1 Maxi Dress costs $148 on the Lululemon website, before shipping. As of June 3, the dress was sold out in every size and color but Light Ivory in extra large. However, shoppers can sign up to be notified if and when the dress will be restocked on the Lululemon website. What are people saying about the dress? In a TikTok video with 83,000 views as of June 3, content creator Chantalissa models the dress, which she encourages her followers to buy. "It takes a lot for me to buy something that I see on TikTok, but the second I saw this 2-in-1 dress from Lululemon, I literally went to the store instantly and tried it on," Chantalissa said in her video. "I actually feel like a princess in it. It's so beautiful, so flowy. I'm obsessed." On the flip side, content creator Dasie expressed her confusion about the dress's popularity, specifically because of the price and simple design. "Is this just for the label? Who walks into Lululemon and they're like, 'Oh my gosh, that's the cutest summer dress I've ever seen?'" Dasie said in a TikTok video with about 4,800 views as of June 3. "I'm not trying to be mean. No hate. You could walk into Walmart and get a cuter dress than that." To 'thneed' or not to 'thneed' Lululemon's 2-in-1 Maxi Dress quickly became deemed a "thneed" on social media. A "thneed" is a garment that can be worn multiple ways, and its name comes from the highly versatile object knitted by the Once-ler in Dr. Seuss' "The Lorax." As depicted in the original Lorax book and movie, a "thneed" can be used as a shirt, sock, glove, hat, carpet or pillow − "a fine thing that all people need." In addition to being multifunctional, a "thneed" is cheap ($3.98, as outlined in "The Lorax") and ethically sourced, as "thneeds" are made entirely from foliage of Truffula Trees, the circular and wispy trees in the story. While some may believe the 2-in-1 Maxi Dress is a "thneed," TikTok user Rachael, commonly known as "the Thneed Girl," disagrees. "The garment really isn't transforming at all. It's just going from being worn down at the hip to up at like the chest. It's really not transforming like a thneed really needs to do," Rachael said in a TikTok video. "You can love this dress. You can hate this dress. You can make whatever arguments you want about the ethics of this dress, Lululemon as a company, I really don't care, but it's not a thneed." Greta Cross is a national trending reporter at USA TODAY. Story idea? Email her at gcross@
