China Home Sales Slump Drags On as Deflation Eats Into Incomes
China's residential property sales continued to fall on in May, signaling the real estate slump is still weighing on an economy that's under pressure from deflation and trade tensions.
The value of new-home sales from the 100 largest property companies slid 8.6% from a year earlier to 294.6 billion yuan ($40.9 billion), according to calculations based on preliminary data from China Real Estate Information Corp. That follows an 8.7% decline in April.
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Stock market today: Dow, S&P 500, Nasdaq waver with all eyes on trade talks after OECD warning
US stocks wavered on Tuesday as an OECD warned of economic damage from President Trump's tariffs, putting investors on watch for progress in US trade talks. The S&P 500 (^GSPC) traded near the flat line, while the Dow Jones Industrial Average (^DJI) fell about 0.1%. The tech-heavy Nasdaq Composite (^IXIC) was little changed on the heels of an upbeat start to the week for the major gauges. The OECD has slashed its outlook for global economic growth, citing the impact of Trump's trade policy on investment and confidence. The US economy will slow particularly sharply, the OECD forecast, going from 2.8% growth last year to only 1.6% this year and 1.5% in 2026. In another sign of trade war taking a toll, China's manufacturers suffered their worst slump since 2022 in May. Tariff hikes had an impact on smaller exporters despite the US-China trade truce, a private survey found. Countries need to act fast to seal deals to lower trade barriers, the OECD urged. Trump is reportedly pushing trade partners for their "best offers" by Wednesday, as deadlines for the implementation of "reciprocal" tariffs loom. But progress in trade talks with key nations seems to have stalled as US-China tensions simmer amid hopes for a call between Trump and President Xi as soon as this week. Read more: The latest on Trump's tariffs A JOLTS update on job openings in April, due later, will provide insight into how the labor market has fared since the tariff hikes began. It will also set the stage for the all-important May jobs report, which is set for release on Friday. Meanwhile, with nearly all of the S&P 500 companies having finished reporting their results, earnings season is coming to an end. On Tuesday, CrowdStrike (CRWD), Asana (ASAN), and Hewlett Packard Enterprise (HPE) will issue their reports. Job openings unexpectedly rose in April after hovering near a four-year low the month prior. New data from the Bureau of Labor Statistics showed 7.39 million jobs open at the end of April, an increase from the 7.2 million seen in March. The data comes as investors closely watch for any signs that economic growth may be slowing further. The March figure was revised higher from the 7.19 million open jobs initially reported. Economists surveyed by Bloomberg had expected Tuesday's report to show 7.1 million openings in March. The April survey included data from the first month that the most severe versions of President Trump's tariffs were in effect. The Job Openings and Labor Turnover Survey (JOLTS) also showed that 5.57 million hires were made during the month, up slightly from the 5.4 million made during March. The hiring rate held ticked up to 3.5% from 3.4% prior. In one sign that workers may becoming more cautious about labor market conditions, the quits rate, a sign of confidence among workers, moved down slightly to 2% from 2.1% in March. US stocks wavered on Tuesday as investors await more updates on President Trump's tariffs. The S&P 500 (^GSPC) traded near the flat line while the Dow Jones Industrial Average (^DJI) fell about 0.1%. The tech-heavy Nasdaq Composite (^IXIC) was little changed on the heels of an upbeat start to the week for the major gauges. Here are some top stocks trending on Yahoo Finance this morning: Applied Digital (APLD) stock added 8% in premarket trading to a whopping 48% gain on Monday after announcing it signed two long-term lease agreements with Nvidia-backed CoreWeave (CRWV) for AI data centers. CoreWeave also rose 4% premarket. Constellation Energy (CEG) jumped 11% after the energy company secured a 20-year nuclear power purchase agreement from Meta (META). The deal also boosted other nuclear stocks, including Vistra (VST) (up 5%) and Oklo (OKLO) (up 6%). Scroll down to read more about Constellation's deal. Dollar General (DG) stock surged 11% on better-than-expected earnings and a raised annual forecast. The discount retailer is expected to be resilient in a weaker economic environment. Pinterest (PINS) shares gained nearly 4% after JPMorgan upgraded its rating on the stock to Outperform from Neutral. The JPMorgan analysts also raised their price target on the stock to $40 (from $35 previously), citing improving user numbers and ad technology. Check out more trending tickers here. Constellation Energy (CEG) stock surged more than 12% in premarket trading following news that it struck a 20-year power purchase agreement (PPA) with Meta (META). Meta stock was roughly unchanged. Starting in June 2027, Meta will buy 1,121 megawatts of energy from Constellation's Clinton nuclear facility in Illinois, powering its AI ambitions while supporting its clean energy goals, a release stated. The Clinton Clean Energy Center was nearly retired in 2017 after financial losses, but a state clean energy program kept the facility operational until mid-2027. Meta's PPA now ensures that the plant will continue to run once that program ends, essentially replacing that financial support. Though Constellation and Meta did not announce a price tag for the deal, they noted it "backs billions in plant investments," marking one of the largest nuclear energy agreements so far. Meta has signed a number of power purchase agreements in recent months — along with the other hyperscalers like Google (GOOG), Amazon (AMZN), Microsoft (MSFT) — as Big Tech races to ensure it can power the artificial intelligence boom. Reuters reports: Read more here. Shares in Dollar General (DG) rose 10% in premarket trading on Tuesday, after the retailer raised its annual sales forecast and beating quarterly sales estimates on robust demand for everyday essentials. Reuters reports: Earnings: Asana (ASAN), CrowdStrike (CRWD), Dollar General (DG), Hewlett Packard Enterprise (HPE), Nio (NIO), Ollie's (OLLI), Signet Jewelers (SIG) Economic data: JOLTS Job Openings (April); Factory and Durable goods orders (April); Capital goods orders (April final); Capital goods shipments (April final) Here are some of the biggest stories you may have missed overnight and early this morning: Boeing is the US government's favorite trade talk tool Why the 'Magnificent 7' are outperforming other stocks again Trump tariffs: A Supreme Court test may make or break their fate OECD warns of tariff hit to growth as US pushes for deals Google stock could fall 25% on 'black swan event': Barclays Nvidia's $1 trillion rally has traders primed to ramp back up Wall Street games out how to profit from Trump tariff flip-flops Yahoo Finance's Josh Schafer reports: Read more here. President Trump's trade war has dragged the global economy into a downturn, with the US among those hardest hit, the OECD has warned. Trade barriers and uncertainty are stifling investment and undermining confidence, the organization said on Tuesday as it slashed its forecasts for leading economies for the second time this year. Trump's policy shift is also adding to inflationary pressures, it said. The Financial Times reported: Read more here Oil prices rose Monday evening as major producers Iran and Canada were struck with issues. Iran has an ongoing deal with the US in jeopardy over a potential pivot to nuclear while Canada is facing wildfires. Reuters reports: Read more here. Job openings unexpectedly rose in April after hovering near a four-year low the month prior. New data from the Bureau of Labor Statistics showed 7.39 million jobs open at the end of April, an increase from the 7.2 million seen in March. The data comes as investors closely watch for any signs that economic growth may be slowing further. The March figure was revised higher from the 7.19 million open jobs initially reported. Economists surveyed by Bloomberg had expected Tuesday's report to show 7.1 million openings in March. The April survey included data from the first month that the most severe versions of President Trump's tariffs were in effect. The Job Openings and Labor Turnover Survey (JOLTS) also showed that 5.57 million hires were made during the month, up slightly from the 5.4 million made during March. The hiring rate held ticked up to 3.5% from 3.4% prior. In one sign that workers may becoming more cautious about labor market conditions, the quits rate, a sign of confidence among workers, moved down slightly to 2% from 2.1% in March. US stocks wavered on Tuesday as investors await more updates on President Trump's tariffs. The S&P 500 (^GSPC) traded near the flat line while the Dow Jones Industrial Average (^DJI) fell about 0.1%. The tech-heavy Nasdaq Composite (^IXIC) was little changed on the heels of an upbeat start to the week for the major gauges. Here are some top stocks trending on Yahoo Finance this morning: Applied Digital (APLD) stock added 8% in premarket trading to a whopping 48% gain on Monday after announcing it signed two long-term lease agreements with Nvidia-backed CoreWeave (CRWV) for AI data centers. CoreWeave also rose 4% premarket. Constellation Energy (CEG) jumped 11% after the energy company secured a 20-year nuclear power purchase agreement from Meta (META). The deal also boosted other nuclear stocks, including Vistra (VST) (up 5%) and Oklo (OKLO) (up 6%). Scroll down to read more about Constellation's deal. Dollar General (DG) stock surged 11% on better-than-expected earnings and a raised annual forecast. The discount retailer is expected to be resilient in a weaker economic environment. Pinterest (PINS) shares gained nearly 4% after JPMorgan upgraded its rating on the stock to Outperform from Neutral. The JPMorgan analysts also raised their price target on the stock to $40 (from $35 previously), citing improving user numbers and ad technology. Check out more trending tickers here. Constellation Energy (CEG) stock surged more than 12% in premarket trading following news that it struck a 20-year power purchase agreement (PPA) with Meta (META). Meta stock was roughly unchanged. Starting in June 2027, Meta will buy 1,121 megawatts of energy from Constellation's Clinton nuclear facility in Illinois, powering its AI ambitions while supporting its clean energy goals, a release stated. The Clinton Clean Energy Center was nearly retired in 2017 after financial losses, but a state clean energy program kept the facility operational until mid-2027. Meta's PPA now ensures that the plant will continue to run once that program ends, essentially replacing that financial support. Though Constellation and Meta did not announce a price tag for the deal, they noted it "backs billions in plant investments," marking one of the largest nuclear energy agreements so far. Meta has signed a number of power purchase agreements in recent months — along with the other hyperscalers like Google (GOOG), Amazon (AMZN), Microsoft (MSFT) — as Big Tech races to ensure it can power the artificial intelligence boom. Reuters reports: Read more here. Shares in Dollar General (DG) rose 10% in premarket trading on Tuesday, after the retailer raised its annual sales forecast and beating quarterly sales estimates on robust demand for everyday essentials. Reuters reports: Earnings: Asana (ASAN), CrowdStrike (CRWD), Dollar General (DG), Hewlett Packard Enterprise (HPE), Nio (NIO), Ollie's (OLLI), Signet Jewelers (SIG) Economic data: JOLTS Job Openings (April); Factory and Durable goods orders (April); Capital goods orders (April final); Capital goods shipments (April final) Here are some of the biggest stories you may have missed overnight and early this morning: Boeing is the US government's favorite trade talk tool Why the 'Magnificent 7' are outperforming other stocks again Trump tariffs: A Supreme Court test may make or break their fate OECD warns of tariff hit to growth as US pushes for deals Google stock could fall 25% on 'black swan event': Barclays Nvidia's $1 trillion rally has traders primed to ramp back up Wall Street games out how to profit from Trump tariff flip-flops Yahoo Finance's Josh Schafer reports: Read more here. President Trump's trade war has dragged the global economy into a downturn, with the US among those hardest hit, the OECD has warned. Trade barriers and uncertainty are stifling investment and undermining confidence, the organization said on Tuesday as it slashed its forecasts for leading economies for the second time this year. Trump's policy shift is also adding to inflationary pressures, it said. The Financial Times reported: Read more here Oil prices rose Monday evening as major producers Iran and Canada were struck with issues. Iran has an ongoing deal with the US in jeopardy over a potential pivot to nuclear while Canada is facing wildfires. Reuters reports: Read more here.
Yahoo
an hour ago
- Yahoo
Big Idea Ventures and Mars Petcare Launch 2025 Global Pet Food Innovation Program in Collaboration with AAK, Bühler, and Givaudan
Building on the success of last year's program, the second round aims to find the next cohort of trailblazers who can deliver innovation in the sustainable pet food space. Startups from around the world are invited to apply, with selected participants to showcase their solutions at the Asia-Pacific Agri-Food Innovation Summit. The program continues to unite leading food and pet care experts to accelerate sustainable pet food innovation. New York, NY , June 03, 2025 (GLOBE NEWSWIRE) -- Following the success of last year's program, Big Idea Ventures and Mars Petcare will launch the second round of the Next Generation Pet Food Program, in collaboration with AAK, Bühler, and Givaudan. This initiative aims to accelerate sustainable innovation in the pet food sector by supporting startups with novel ingredients, sustainable fats and proteins, and advanced processing technologies. Mars is exploring alternative ingredients in its pet food products to create more sustainable, future-ready nutrition. As consumer preference evolves Mars is working to give pet parents the opportunity to make more environmentally conscious choices, while taking steps to reduce its own carbon footprint. This year, Givaudan, a global leader in taste and wellbeing, joins AAK and Bühler as a collaborator, offering expertise in ingredient innovation and product development for humans and pets. Andrew D. Ive, Founder and Managing General Partner of Big Idea Ventures, stated:"Working with Mars last year was fantastic! We want to take the learnings and implement them on a big scale as we continue to search for and develop sustainable solutions for the pet food ecosystem. Last year, the teams from Mars Petcare, Bühler, and AAK offered invaluable insights to our startups. Now, by integrating Givaudan into the mix, we will further enhance the resources available to the startups we choose.' Paul Gardner, Commercial VP, Mars Pet Nutrition added: 'We must invest in innovation to help us source the best ingredients and build a future where the planet stays healthy, and where people and their pets are thriving. We're excited to be launching the second round of this program harnessing the creativity of startups, alongside partners that share our vision' 'We were thrilled at the enthusiastic response we got from last's program. It is a testament that innovative startups are the driving force behind the future of sustainable pet nutrition. The program offers a unique opportunity for visionary entrepreneurs to collaborate with leading industry experts, access state-of-the-art technology, and accelerate their impact on the global petfood market. I encourage all startups with bold ideas and a passion for transformation to apply and help us shape a healthier, more sustainable future for pets and planet alike,' said Dr. Ian Roberts, CTO at Bühler Group. Niall Sands, President Commercial Innovation and Development, AAK, shared that the company is excited to support pet food innovators to bring nutrition and health-promoting functionality to our beloved pets. They look forward to exploring how innovation in this space is helping pet parents support and care for our 4-legged family members. Fabio Campanile, Global Head of Science & Technology, Givaudan Taste & Wellbeing, noted, 'Givaudan is excited to be part of this program as it presents a unique opportunity to collaborate with innovative startups and partners, paving the way for a more sustainable and enriching world for pets. We look forward to building on our current capabilities in the pet food space as well as exploring new technologies.' Companies selected for the program will benefit from expert guidance, potential commercial partnerships, and the opportunity to showcase their solutions on a global stage at Asia-Pacific Agri-Food Innovation Summit in Singapore from November 4–6, 2025. Winners of the 2024 Global Pet Food Innovation Program include BiomeMega, Anomaly Bio, KIDEMIS, String Bio Private Limited, MiAlgae, who have been under the mentorship of Big Venture Idea, Mars, AAK and Bühler. The startups have gained insights from top pet food experts and collaborated with leading CPG, ingredient, and technology companies to further develop their concepts with the potential to develop future long-term collaborations. The program is open to startups from around the world, with a strong preference for scalable solutions that can demonstrate real-world impact and sustainability. While APAC-based startups are preferred, companies from all geographies are encouraged to apply. For more information, visit Interested startups are encouraged to apply here as early as possible and will be able to do so until July 16. Media contacts: Bühler: Dalen Jacomino Panto, Media Relations Manager Bühler AG, 9240 Uzwil, Switzerland Phone: +41 71 955 37 57 Mobile: +41 79 900 53 88 E-mail: Katja Hartmann, Media Relations ManagerBühler AG, 9240 Uzwil, Schweiz Mobile: +41 79 483 68 07 E-mail: Jeff Peppet, Content and Communications Director, T&W +1 513 293 3740AAK: Carl Ahlgren Head of Investor Relations and Corporate Communication IR, Communications and Brand Malmo, Sweden +46706810734 Alex Lloyd, Global R&D Communications Senior Manager Email: Idea Ventures: 259 Nassau St Ste 2, #1292 Princeton, NJ 08542 Shruti Salkar Email: news@ the Partners Big Idea Ventures Big Idea Ventures is the leading investor in food and agri technology globally. As one of the most active investors in the food-tech, agri-tech, and materials science sectors, we focus on identifying and investing in the most innovative and sustainable technology companies around the world. We collaborate with universities for tech transfer and by combining capital, knowledge, and partnerships, we drive economic growth and help to create food ecosystems. Our collaborations with leading corporations and governments aim to support entrepreneurs, scientists, and engineers in solving some of the world's biggest challenges. Big Idea Ventures has teams in New York, Paris and Asia and has invested in more than 120 companies across 30 countries. Incorporated Mars, Incorporated is driven by the belief that the world we want tomorrow starts with how we do business today. As a $50bn+ family-owned business, our diverse and expanding portfolio of leading pet care products and veterinary services support pets all around the world and our quality snacking and food products delight millions of people every day. We produce some of the world's best-loved brands including ROYAL CANIN®, PEDIGREE®, WHISKAS®, CESAR®, DOVE®, EXTRA®, M&M'S®, SNICKERS® and BEN'S ORIGINAL™. Our international networks of pet hospitals, including BANFIELD™, BLUEPEARL™, VCA™ and ANICURA™ span preventive, general, specialty, and emergency veterinary care, and our global veterinary diagnostics business ANTECH® offers breakthrough capabilities in pet diagnostics. The Mars Five Principles — Quality, Responsibility, Mutuality, Efficiency and Freedom — inspire our 150,000 Associates to act every day to help create a better world for people, pets and the planet. Everything AAK does is about Making Better Happen™. We specialize in plant-based oils and fats, the value-adding ingredients in many products people love to consume. We make these products better tasting, healthier, and more sustainable. At the heart of AAK's offer is Customer Co-Development, combining our desire to understand what Making Better Happen™ means for each customer, with the unique flexibility of our production assets, and deep knowledge of products and industries, including Chocolate & Confectionery, Bakery, Dairy, Plant-based Foods, Special Nutrition, Foodservice, and Personal Care. Our 4,100 employees support our close collaboration with customers through 25 regional sales offices, 16 dedicated Customer Innovation Centers, and with the support of more than 20 production facilities. Listed on Nasdaq Stockholm and headquartered in Malmö, Sweden, AAK has been Making Better Happen™ for more than 150 years. Bühler is driven by its purpose of creating innovations for a better world, balancing the needs of economy, humanity, and nature in all its decision-making processes. Billions of people come into contact with Bühler technologies as they cover their basic needs for food and mobility every day. Two billion people each day enjoy foods produced on Bühler equipment; and one billion people travel in vehicles manufactured using parts produced with Bühler solutions. Countless people wear eyeglasses, use smartphones, and read newspapers and magazines – all of which depend on Bühler process technologies and solutions. Having this global relevance, Bühler is in a unique position to turn today's global challenges into sustainable business. As a technology partner for the food, feed, and mobility industries, Bühler has committed to having solutions ready to multiply by 2025 that reduce energy, waste, and water by 50% in the value chains of its customers. It also proactively collaborates with suppliers to reduce climate impacts throughout the value chain. In its own operations, Bühler has developed a pathway to achieve a 60% reduction of greenhouse gas emissions by 2030 (Greenhouse Gas Protocol Scopes 1 & 2, against a 2019 baseline). Bühler spends up to 5% of turnover on research and development annually to improve both the commercial and sustainability performance of its solutions, products, and services. In 2023, some 12,500 employees generated a turnover of CHF 3.0 billion. As a Swiss family-owned company with a history spanning 164 years, Bühler is active in 140 countries around the world and operates a global network of 105 service stations, 30 manufacturing sites, and Application & Training Centers in 25 locations. Givaudan is a global leader in Fragrance & Beauty and Taste & Wellbeing. We celebrate the beauty of human experience by creating happier, healthier lives with love for nature. Together with our customers, we deliver food experiences, craft inspired fragrances, and develop beauty and wellbeing solutions that make people look and feel good. From your favourite drink to your daily meal, from prestige perfumes to laundry care, our products help people live happier and healthier lives, and we create them in a way that respects natural resources and the environment.
Yahoo
an hour ago
- Yahoo
GAC launches in Ethopia with emphasis on NEV ecosystem
China-based GAC International has held a brand launch event in Addis Ababa, capital of Ethiopia, officially announcing its "Ethiopia Action" and introducing two new energy vehicle (NEV) models – the AION Y Plus and the electric SUV ES9. The event was attended by high-level government officials including Chinese Ambassador to Ethiopia, Dr. Alemu Sime Feyisa and Feng Xingya, Chairman and President of GAC Group. Chairman Feng highlighted Ethiopia's 120 million population market and fuel vehicle ban as key NEV opportunities, pledging GAC's green transition support. The company also committed to charging station rollout and 'joint industrial hub development to modernise Ethiopia's auto industry'. Under its "One GAC 2.0" globalisation strategy, GAC said it will leverage its 'built-in energy ecosystem to establish a full-chain industrial ecosystem, delivering end-to-end NEV solutions covering product development, intelligent manufacturing, channels, and services'. GAC's "Ethiopia Action" strategy launches the AION Y Plus and ES9, showcasing pure electric and plug-in hybrid options. GAC has opened the first flagship showroom in Addis Ababa with nationwide expansion planned and said it is also advancing localization via a KD (knock down kits) factory. The Ethiopian Investment Commission and Transport and Logistics of Ethiopia, spoke highly of "Ethiopia Action", confirming the project's inclusion in national automotive strategy, supporting "Made in Ethiopia 2025". GAC also said that as the 'gateway to East Africa, Ethiopia will serve as GAC's key hub for implementing the Belt and Road Initiative and advancing Africa's green mobility transformation'. "GAC launches in Ethopia with emphasis on NEV ecosystem" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
