Trump-Xi Summit in Beijing
Xi warns Trump that differences over Taiwan could lead to a clash China’s leader placed Taiwan at the center of the summit, calling it “the most important issue” between the two countries. Xi told Trump there are “no winners” in a trade war. — NPR · FT
Key moments from Day 1: pleasantries, Taiwan tensions, and trade During the first round of two days of talks, Xi issued a stern warning about Taiwan while Trump touted the top business leaders in his delegation. Chinese state media depicted the summit as an opportunity for the U.S. to accept that the “right way” for the two powers to engage is as equals. — NYT · NYT
Xi says ‘US and China should be partners, not rivals’ Security was heightened in Beijing ahead of the talks, where the leaders discussed economic cooperation, trade, and Iran. — Guardian
Trump and Xi discuss the need to open the Strait of Hormuz Secretary of State Marco Rubio said in an interview that China should take a more active role in resolving the standoff over the strait. — NYT
Who are the US CEOs in China with Trump? Top executives hope to expand their businesses in China as Trump aims for a win ahead of the midterm vote. — Al Jazeera
Russia-Ukraine War
Russia pummels Kyiv after Putin hints war could end soon At least five people were killed and dozens wounded in a drone and missile strike, the latest in a series of attacks since a three-day truce expired on Monday. President Zelenskyy confirmed more than 70 injured across the country. — NYT · BBC · France 24
Latvian PM resigns after row over stray Ukrainian drones PM Evika Siliņa said she was frustrated by the response to the incident and late alerts for the population after drones bound for Russia crashed in Latvia last week. — BBC · Guardian
Zimbabweans lured into Russia’s war as families plead for their return Families are calling on governments in Moscow and Harare to secure the return of loved ones from Ukrainian front lines. — Al Jazeera
Middle East
Two killed as Israel ramps up southern Lebanon attacks ahead of US talks Lebanon and Israel are expected to hold talks on extending the ceasefire in Washington. — Al Jazeera
UK Politics & Economy
UK economy posts surprise 0.3% GDP growth despite Iran war fallout The stronger-than-expected growth in March has raised Chancellor Rachel Reeves’ prospects for staying in post amid the Labour leadership battle. — Guardian
Streeting allies claim more MPs asking Starmer to resign Cabinet ministers rejected the suggestions, accusing Streeting’s supporters of attempting to “brief resignations into existence.” Defence minister Al Carns may also launch a leadership bid. — Guardian
Angela Rayner says she has been cleared over UK tax affairs Rayner says HMRC has cleared her, paving the way for a potential Labour leadership challenge. — Al Jazeera
Africa
Former Nigerian minister sentenced to 75 years in rare corruption verdict Former Power Minister Saleh Mamman was convicted last week, but the authorities do not know his whereabouts. — BBC
Human Rights
UN urges Equatorial Guinea to halt plans to return US deportees Human rights experts issued a rare public appeal as US deportees describe being held in “prison-like” conditions. The statement was cosigned by a representative of the African Commission on Human and People’s Rights. — Guardian
Markets & Business
S&P 500 eyes third record this week; Dow poised to retake 50,000 A rally in the technology sector drove the S&P 500 and Nasdaq Composite to new intraday and closing records on Wednesday. S&P 500 futures rose 0.3% in premarket, with tech bulls egged on by Cisco’s surge and appetite for the Cerebras AI chip IPO. — CNBC · Bloomberg · Quartz
Senate confirms Kevin Warsh as next Federal Reserve leader The Senate confirmed Warsh as the next leader of the Fed. — NPR
BlackRock strategist sees higher inflation and rates going forward Wei Li, BlackRock’s chief global investment strategist, says geopolitical fragmentation and AI demand will drive inflationary pressures. — Bloomberg
Hedge fund proposes £1bn buyout of Spire Healthcare Shares in Britain’s largest private hospital operator soared nearly 50% after an approach from Toscafund, its second-biggest shareholder. — Guardian
Versant stock jumps nearly 10% after first quarter as independent company Versant, the portfolio of TV networks spun out from Comcast, reported earnings for its first quarter showing bright spots in licensing and platforms. — CNBC
US and EU lawmakers pledge scrutiny of Paramount’s WBD deal In a letter first reported by CNBC, lawmakers told Paramount CEO David Ellison the Warner Brothers Discovery acquisition would stifle competition. — CNBC
Ford-CATL battery plant shows global carmakers’ reliance on Chinese EV tech The US$3 billion Michigan facility, with capacity for over 400,000 EVs a year, has heightened expectations for similar deals as Trump visits Beijing. — SCMP
Burberry’s £2,000 Cotswolds handbag a hit with Americans The luxury brand says its tote bags helped drive its best performance in recent times, returning to a full-year profit. — Guardian
Crypto & Fintech
Bank of England ready to water down ‘overly conservative’ stablecoin proposals The BoE is reconsidering its approach to stablecoin regulation. — CoinDesk
T3 Financial Crime Unit tops $450M in frozen illicit crypto assets The Tether, TRON, and TRM Labs-backed unit reports a 43.9% annual increase in intercepted proceeds. — The Block
Education
King’s College London to merge with Cranfield University The merged institution will become the second-largest mainstream university in the UK with about 47,000 students. — Guardian
Australia
One dead after bus rolls off road in Whitsundays region At least two people are critically injured after a coach rolled on one of Australia’s most dangerous roads. Eleven ambulances and two helicopters attended the scene. — Guardian