Top Overnight News
Xi Jinping has told American chief executives travelling with Donald Trump that China’s door to business “will only open wider and wider” as the leaders of the world’s two biggest economies meet in Beijing. FT
Beijing granted permission on Thursday for hundreds of American slaughterhouses to resume beef shipments to China, 15 months after Chinese officials had signaled displeasure with President Trump’s initial tariffs by allowing the industrial facilities’ licenses to expire. WSJ
Scott Bessent said he had no news on additional access for Nvidia chips in China, but said there may be a large Boeing order. BBG
Chinese leader Xi Jinping warned President Trump that any mishandling of Taiwan could lead to “an extremely dangerous situation,” directly raising a point of tension that has loomed over the meeting. Xi’s statement, while in line with China’s longstanding position, threatened to dim the mood of a visit both countries hoped would stabilize ties.
The BoJ should raise interest rates as soon as possible if there are no clear signs of an economic slowdown, board member Kazuyuki Masu said in comments that appear to increase the chances of a June rate hike. RTRS
Data centers in space are gaining traction as an idea to get around constraints limiting expansion on Earth. SpaceX and Blue Origin have both announced plans to build and launch. BBG
Russia pummelled cities across Ukraine with dozens of missiles and more than 1,400 drones on Wednesday into Thursday, as a three-day ceasefire collapsed in a relentless 24-hour bombardment, which killed at least a dozen people. FT
US President Trump's proposals are reportedly facing opposition in Congress. These include a gas tax holiday and federal funding for a new ballroom in the White House: Semafor
US Pentagon has not signed new contracts to replenish its munitions supplies: NBC
London office leasing bounced back from Covid-era lows, with tenant floor-space expansions reaching a six-year high on rising demand from finance and professional services firms. BBG
India is considering a significant reduction in taxes paid by foreign investors on the nation’s bonds as authorities seek to align policies with global norms and attract inflows, people familiar said. BBG
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