News

In 2011, a burnt-out Charles Coristine left his Wall Street job and bought a “flatlining” snack company. Here’s how he turned LesserEvil around.

A new letter to Scott Bessent accuses President Donald Trump of usurping the authority of Congress and U.S. courts since regaining the White House.

United Kingdom CFTC GBP NC Net Positions rose from previous £6.5K to £20.5K

Japan CFTC JPY NC Net Positions increased to ¥177.8K from previous ¥171.9K

Latvian central bank governor, and therefore a Governing Council member of the European Central Bank, Martins Kazaks. Comments reported via Bloomberg.

Bloomberg is gated, but in brief, Kazak’s main points were:

• US tariff policies may slow down inflation and cause a recession
• But developments are head are unclear right now
• “If inflation were to undershoot the target significantly and for an extended period of time, the natural choice would be to lower interest rates into stimulus territory. Currently it is not the case.”
• “We are at 2.25% — the question is more about whether we will have to go much lower below 2%. We’ll do it if we have to, but the economic picture would have to become much weaker for that to happen and to weigh down on inflation further.”

Earlier:

• ECB’s Simkus says the Bank could lower interest rates at least two more times this year

Adam posted over the weekend:

• ECB policymakers warm up to a June cut — sources report

This article was written by Eamonn Sheridan at www.forexlive.com.

Many young people choose skilled trades like construction or plumbing. “I’m not going to go stop my business and pay for college,” says Chase Gallagher, age 24.

When it comes to retirement, Americans are on mostly on their own to manage their savings and spending. Many fear they will run out of money before they die.

China’s State Council approved 10 new nuclear reactors, marking the fourth year in a row with at least 10 approvals.

• China currently has 30 nuclear reactors under construction, accounting for nearly half of all projects worldwide.

• China is expected to surpass the U.S. as the largest atomic energy producer by the end of the decade.

• The newly approved reactors are estimated to cost a combined 200 billion yuan (US$27 billion)

China’s State Council is the highest administrative body in China — basically the country’s main central government.
It’s sometimes called the “Central People’s Government” and is led by the Premier (currently Li Qiang as of 2025), who is like the prime minister.

The State Council is responsible for:

• Implementing laws and policies passed by the Chinese Communist Party (CCP) and the National People’s Congress (NPC)

• Managing the day-to-day operations of government ministries (like finance, commerce, energy, etc.)

• Setting economic and development policies

• Overseeing national projects — like approving infrastructure, nuclear plants, transportation networks, and more

Its China’s version of a cabinet or executive branch, but more powerful because it controls almost all government operations.

This article was written by Eamonn Sheridan at www.forexlive.com.

Atsushi Mimura, Japan’s Vice Finance Minister for International Affairs and top foreign exchange official, said early Monday that it is “completely untrue about the media report that US Treasury Secretary Scott Bessent said a stronger Yen is preferable.”

Reuters with the report, in summary:

• Shares of Toyota Industries surged on Monday after Toyota announced it was exploring a potential investment in the key parts supplier.

• Toyota Industries shares remained untraded due to a flood of buy orders, with bids suggesting a 23% jump to the daily limit of 16,225 yen.

• If realised, it would be Toyota Industries’ biggest one-day gain in over 40 years, according to LSEG data.

• On Saturday, Toyota said it was considering options including a partial investment in Toyota Industries.

• Bloomberg reported that Toyota Chairman Akio Toyoda and his founding family had proposed a 6 trillion yen ($42 billion) buyout.

• Toyota Industries confirmed it had received proposals regarding going private via a special purpose company but denied receiving a formal buyout offer from Toyota or its chairman.

This article was written by Eamonn Sheridan at www.forexlive.com.