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BEIJING (AP) — China’s factory activity contracted in May, according to an official survey released on Saturday, although the decline slowed from April as the country reached a deal with the U.S. to slash President Donald Trump’s sky-high tariffs.China’s purchasing managers index rose from 49.0 in April to 49.5 in May, the National Bureau of Statistics said. PMI is measured on a scale from 0 to 100, where 50 marks the cutoff between expansion and contraction.Meanwhile, the manufacturing index showed growth in the sector, although the index measuring new orders remained under 50 despite some improvement.National Bureau of Statistics senior…

MUNICH (AP) — Soccer fans were taking over Munich before Paris Saint-Germain and Inter Milan go head-to-head in the Champions League final on Saturday.European club soccer’s biggest prize is at stake between two teams that have felt the pain of falling at the last hurdle in recent years.Inter was a losing finalist against Manchester City in 2023 and PSG lost in its only final against Bayern Munich in 2020.Supporters were gearing up for the evening game by making their way to the designated fan zones hours before kickoff. Many stopped en route to sample Munich’s gastronomy on a beautiful warm…

CNBC’s Jim Cramer on Friday reviewed recent earnings from teen-focused apparel makers Abercrombie & Fitch and American Eagle Outfitters. While he was more optimistic about the former, he was generally cautious on the group.”I want you to limit your downside with these teen retailers. You never know when a company like this may go from sink and swim to just plain sink, at least for the next quarter,” he said. “But to me, Abercrombie — I think that’s worth buying perhaps as soon as next week.”According to Cramer, teenage consumers are “notoriously fickle,” a dynamic that makes it hard to bet…

CNN  —  Unveiling their latest seizure in front of news cameras last month, two Chinese customs agents revealed not drugs or weapons – but suitcases full of plush toys. The stash on display included dozens of Pop Mart Labubus – the toothy, fluffy figurines that have sparked buying frenzies around the world, and in some cases, brawls among fans outside shops selling them. Even in China, where Pop Mart is based and most of its toys are made, people are struggling to get their hands on Labubus. When CNN recently visited a Pop Mart store at a bustling shopping mall…

CNN  —  President Donald Trump’s directives for mass firings at multiple agencies will remain on hold, a federal appeals court ruled Friday evening. The Trump administration had asked the US 9th Circuit Court of Appeals to freeze a lower court’s order that halted the terminations at more than a dozen agencies. The new order is a major setback for Trump in his efforts to drastically shrink the federal government. His plans for the sweeping layoffs – known as reductions in force, or RIFs – have been on hold since May 9, after US District Judge Susan Illston ruled that Trump…

CNN  —  Taylor Swift is now the proud owner of her entire catalog of music, roughly six years after she protested the sale of her master recordings by her former record label. Swift announced the news in a letter posted to her website Friday, writing that “all of the music I’ve ever made… now belongs… to me.” The Grammy-winner specified that she owns all her music videos, concert films, album art and photography, along with unreleased songs. She purchased her music “outright with no strings attached, no partnership, full autonomy,” from Shamrock Capital, a private equity company that had acquired…

CNBC’s Jim Cramer on Friday highlighted next week’s most market-moving events. He honed in on the nonfarm payroll report, a key inflation metric for the Federal Reserve, as well as earnings from Dollar General and Broadcom.”If we get a strong employment number Friday, then there’s no way the Fed’s cutting short-term rates….and longer-term rates are going to go higher too,” Cramer said. “If we get a weak employment number, then the Fed still probably won’t cut rates, because they know that tariffs are inflationary.”Federal Reserve Chair Jerome Powell is set to speak on Monday, and Cramer said he hopes Powell…

Hester Peirce, commissioner of the US Securities and Exchange Commission (SEC), speaks during the DC Blockchain Summit in Washington, D.C., on Tuesday, May 24, 2022.Valerie Plesch | Bloomberg | Getty ImagesLAS VEGAS — Now that the SEC is out of the business of regulating meme coins, investors shouldn’t expect any guidance on $TRUMP, according to Hester Peirce, one of the agency’s veteran commissioners.The SEC said in February that it does not deem most meme coins securities under U.S. federal law. That took the crypto tokens out of its purview just weeks after President Donald Trump launched his own meme coin…

Bitcoin 2025 brought together thousands of investors, builders, and believers for a showcase of crypto’s next chapter.MacKenzie SigalosLAS VEGAS — At the world’s largest bitcoin conference this week on the Vegas Strip, the most consequential story wasn’t about bitcoin.Stablecoins, the dollar-pegged digital tokens now driving a full-scale financial and political shift in Washington, stole the show.The momentum behind stablecoin legislation and crypto market reform is accelerating — and it’s attracting a new kind of donor, investor, and voter. That shift took center stage at Bitcoin 2025 in Las Vegas.Vice President JD Vance became the first sitting U.S. vice president to…

Clubs in Saudi Arabia are linked with a move to Tottenham’s Son Heung-Min, while Chelsea are eyeing a move for Manchester United’s Kobbie Mainoo. Join us for the latest transfer news, rumors and gossip from around the globe.Transfers homepage | Done deals | Men’s January grades | Women’s January gradesTOP STORIES- Liverpool confirm Frimpong deal after TAA exit- Source: Liverpool bid club-record €130m for Wirtz- Alexander-Arnold joins Real Madrid, set for CWCCould Tottenham’s Son Heung-Min make a move to Saudi Arabia? (Photo by Ian MacNicol/Getty Images)TRENDING RUMORS- Tottenham’s Son Heung-Min is a target for numerous Saudi Pro League clubs, who are…