01. North America

[ Amazon Shareholders' Meeting: Return to Normal Profits, Cut Excessive Warehouses ] On May 25, local time, Amazon held its annual shareholder meeting, and CEO Andy Jassy attended the meeting. It was also his first shareholder meeting since replacing Bezos last July. Andy Jassy said that the company's current priority is to return to a relatively healthy profitability. Jassy told shareholders that management had succeeded in reducing its cost structure before, and he is confident that the company will be able to return to a normal track for profitability as the company wraps up its recent unusual two years.

In addition, Jassy also confirmed that the company is preparing to cut down some logistics warehouses to solve the problem of excess facilities. Jassy said that the management is taking a series of measures. For markets that do not need expansion, the company will suspend the warehouse construction plan, and other places will not renew the lease after the end of the lease period. "But I also believe that in the current We can also continue to grow our business on a physical basis.”

[Walmart expands drone delivery range] Walmart announced plans to increase the number of stores offering drone delivery; in the future, it will air cargo to 34 locations in six states, including Arizona, Arkansas, Florida, Texas 4 million households in parts of the state, Utah and Virginia. That's a significant increase, and when the company launches the program in November 2021, it will only serve one Arkansas town.

Walmart has been testing how to make the small drones a game-changer for retail, driving e-commerce growth and outpacing Amazon in its stores. Two years ago, the company struck deals with three operators, Flytrex, Zipline and DroneUp, and began a pilot program to deliver groceries, household essentials and at-home Covid-19 test kits to customers. But it declined to disclose the terms of the deal.

[Best Buy lowers its full-year guidance] Best Buy's earnings report showed that the company's first-quarter revenue was $10.647 billion, better than market expectations of $10.43 billion, and $11.637 billion in the same period last year. A year-on-year decrease of 8.5%; net profit was US$341 million, compared with US$595 million in the same period last year, a year-on-year decrease of 43%. In addition, Best Buy also lowered its fiscal 2023 revenue and earnings per share guidance.

[Apple’s new office building in Ireland is expected to be completed in 2025] Apple is expanding its Cork office park in Ireland, adding a new office building that can accommodate 1,300 new employees and is expected to be completed in 2025. It is reported that the Cork campus is Apple's European headquarters, where Apple has been developing for more than 40 years. According to the construction plan, Apple will build a new four-story office building here with a basement. The building will be powered by 100% renewable energy and the new building will be covered with solar panels.

[Apple's U.S. Apple Stores begin rolling out iPhone "Tap to Pay"] The iPhone's "Tap to Pay" contactless payment feature will be rolled out today at Apple Store retail locations across the U.S., allowing customers to try it out. The feature will allow compatible iPhones to accept payments via Apple Pay, contactless credit and debit cards, and other digital wallets without the need for additional hardware.

It's been nearly seven years since Illinois filed a class-action lawsuit against Facebook, alleging the company didn't have citizens' permission Collecting and storing images of their face scans violated the rights of citizens. More than a million residents are now receiving checks and deposits of $397 each as part of settlement payments.

[CBO expects U.S. budget deficit to fall in fiscal 2022, the Fed will only raise interest rates to 1.9% this year] The Congressional Budget Office (CBO) said the U.S. federal budget deficit will drop sharply to about $1 trillion this year due to a surge in tax revenue level. The budget deficit will also narrow to $984 billion in fiscal 2023, which begins Oct. 1, according to projections released by the Congressional Budget Office. The deficit this year and next is significantly lower than the $2.8 trillion in fiscal 2021. Total federal debt is projected to increase by $1.9 trillion in fiscal 2022. At the same time, it is predicted that by the end of 2022, the Fed will only raise the benchmark interest rate to 1.9% (the market expects 2.6%), and to 2.6% by the end of 2023.

[The Fed is unable to boost supply and has to suppress demand, and fighting inflation may inevitably lead to recession] The Fed cannot drill for oil, cultivate crops or repair global supply chains. So the only quick fix for Fed Chairman Jerome Powell to curb the fastest-growing inflation rate in four decades may be to raise interest rates so sharply that it plunges the economy into recession. The scenario worries some economists, who say it may be the only way the Fed can curb demand enough to offset the supply-side factors it is unable to control and push up inflation. That's bad news for thousands of Americans who could lose or lose their jobs as Powell restores supply and demand.

[U.S. natural gas prices top $9 for the first time] As concerns over supply shortages intensify, the price of natural gas in the U.S. market has continued its astonishing rally, topping $9/MMBtu for the first time since 2008. U.S. natural gas inventories were below normal levels for the same period as exports surged to record levels but production from shale basins remained subdued. Drought conditions on the U.S. West Coast are expected to curb hydropower generation, while warmer-than-average weather in the East is expected to increase demand for air conditioning and natural gas. The Russian-Ukrainian conflict has exacerbated an energy shortage, sending global gas prices soaring and prompting buyers in Europe and Asia to scramble for U.S. LNG supplies.

[Biden moves to protect major Alaska watershed from mining] The Biden administration took action on the 25th local time to ban the disposal of mining waste in Alaska’s Bristol Bay watershed. The Environmental Protection Agency’s proposal would protect one of the world’s largest salmon fisheries One, and block plans to mine copper, gold and other metals in the watershed.

[21 dead in US elementary school shooting, suspect showing off guns to classmates before committing the crime] On May 24, 2022 local time, the death toll in the shooting incident at Rob Elementary School in Uwald, Texas, USA has risen to 18, and another Three adults died. The death toll in Texas school shootings has now reached 21, including 19 children and two adults, according to U.S. Department of Public Safety officials. The Texas governor said the suspect in the shooting was Salvador Ramos, an 18-year-old high school student. He was shot dead by police after the shooting.

[U.S. files formal trade complaint with Canada over dairy issues] The dispute between the U.S. and Canada over the sale of U.S. dairy products north of the border has escalated, according to sources. On the 24th local time, the U.S. Trade Representative formally requested the establishment of a dispute settlement panel to review allegations by U.S. producers that Canada denied them fair access to the Canadian market. At the heart of the dispute is how Canada allocates its tariff quotas (TRQs), the quantities of certain dairy products such as milk, cheese, milk powder, yogurt and ice cream that can be imported at lower tariff levels.

02. EU region

[French consumer confidence unexpectedly fell to its lowest level since 2014] French consumer confidence unexpectedly fell to its lowest level since 2014. Households in the euro zone's second-largest economy are less confident about their financial situation, ability to save and future living standards. The investigation is a red flag for President Emmanuel Macron, who has spent about 25 billion euros ($27 billion) this year to cushion the shock of price surges and plans a new round of measures after legislative elections in June.

Source: Insee

03. Other regions

[Mexico suspends the imposition of anti-dumping duties on China-related ammonium sulfate] The Ministry of Economy of Mexico issued an announcement that in view of the current shortage of chemical fertilizer raw materials and the resulting price increase, it has decided to suspend the application of ammonium sulfate originating in or imported from China and the United States, as well as ammonium sulfate originating in or imported from China's ammonium sulfate mixtures are subject to anti-dumping duties for a period of six months, and the announcement will take effect the day after the announcement.

[India decides to levy anti-dumping duties on China's polyurethane synthetic leather] The Revenue Department of the Ministry of Finance of India issued a notification No. 14/2022-Customs (ADD), accepting that the Ministry of Commerce and Industry of India issued on February 21, 2022 the originating in or imported from China. The final anti-dumping ruling made by Polyurethane Leather which includes any kind of textile coated one sided or both sided with Polyurethane decided to exclude the Chinese manufacturer Anhui Anli Material Technology Co., Ltd. ), the tax rate is 0, and the tax rate for other producers is 0.46 US dollars / meter, and the measure is valid for 5 years. Involves products under Indian customs codes 5603.94.90 and 5903.20.90. The above-mentioned ruling shall take effect from the date of publication of this notification in the Official Gazette.

[Institutional Analysis: The Reserve Bank of New Zealand's 4% OCR peak forecast is questioned] Market economists did not accept the new forecast of the Reserve Bank of New Zealand's official cash rate (OCR) peak level of about 4.0%. Forecasters at New Zealand's four main banks and others agree that a peak of 3.5 per cent is more likely, although more tightening is expected in the near term. The discrepancy partly underscores RBNZ Orr's emphasis on "least regret" decisions, arguing that it's better to do too much too soon than too little or too late, but it could also Increase the risk of policy mistakes. Some economists believe the Reserve Bank of New Zealand will stop raising rates aggressively as evidence of an economic slowdown mounts.

[The Reserve Bank of New Zealand raised interest rates for the second time in a row by 50 basis points and expects interest rates to rise to at least 3.25% this year] The Reserve Bank of New Zealand raised interest rates by 0.5 percentage points at the decision-making meeting for the second time in a row, and predicted that interest rates will continue to be raised in the future to curb inflation. The Reserve Bank of New Zealand's Monetary Policy Committee on Wednesday raised the official cash rate (OCR) to 2% from 1.5%. The central bank expects the OCR to rise to at least 3.25% this year and peak near 4% in 2023, up from its previous forecast. This is the first time since the introduction of OCR in 1999 that the Reserve Bank of New Zealand has raised interest rates by half a percentage point in a row, and the rate of tightening since October has increased to 175 basis points. NZD/USD was up 0.5% at 0.6499 after falling as much as 0.7% earlier.

[Zimbabwe's annual inflation rate rose to 131.7%] As of May, Zimbabwe's annual inflation rate rose to 131.7%. Currently, domestic prices of edible oil and bread are soaring in Zimbabwe, with inflation hitting triple digits for the first time since June last year. The Zimbabwean government has tried to regulate prices by suspending import duties on basic commodities such as cooking oil, rice and flour. It is understood that in April, Zimbabwe's annual inflation rate has reached 96.4%.

Zhimeitong | Logistics Highlights

For more information, please pay attention to the public account; Zhimeitong Research Institute

[ USD 720 million to order 6 ships, CMA CGM will expand the capacity of LNG-powered container ships ] It is reported that CMA CGM and Hyundai Heavy Industries of South Korea signed a letter of intent for shipbuilding to build 6 8,000TEU LNG (liquefied natural gas) powered twin Fuel container ships, each cost about 120 million US dollars, the total amount is 720 million US dollars.

It is worth noting that CMA CGM, which is accelerating its strategic transformation and is committed to becoming a global logistics leader, continues to step up its investment in capacity expansion. In March this year, CMA CGM ordered four 7,400TEU LNG-powered ships from Samsung Heavy Industries, another South Korean shipyard. When CMA CGM announced its 2021 results, it said that the current global trade is developing healthily, but there are still geopolitical uncertainties. Due to tensions in the global supply chain, pressure on effective capacity and company operations continued.

[ Port of Melbourne's freight volumes fell in April ] According to data, the total number of container traffic at the Port of Melbourne fell in the fourth month of this year. Compared to April 2021, total container throughput (full and empty) at Australian ports fell by 5% to a reported 255,193 TEU. From the beginning of the year to date, the country's main ports have declined by 1.6%.

[ Baltic dry bulk freight index fell, due to a decline in the larger ship freight index ] The Baltic dry bulk freight index fell on the 25th, due to a decline in the larger ship freight index. The Baltic index for overall dry bulk fell 126 points, or 3.9%, to 3,127. The capesize index fell 301 points, or 7%, to 3,987. Average daily earnings for capesize vessels fell $2,495 to $33,069. The panamax index slipped 103 points, or 3.1%, to 3,218. Average daily earnings for panamax vessels fell $927 to $28,965. The Supramax index rose 5 points to 2,833. The handysize index slipped 6 points to 1,656.

Zhimeitong | Domestic Highlights

For more information, please pay attention to the public account; Zhimeitong Research Institute

[ The exchange rate of the RMB against the U.S. dollar regained the 6.7 mark and the market transaction behavior is still rational and orderly] The exchange rate of the RMB against the U.S. dollar, which has been falling continuously since late April, has gradually "recovered lost ground" recently. Data show that the current onshore and offshore RMB exchange rates against the U.S. dollar have both recovered the integer mark of 6.7. From the perspective of comprehensive analysts, my country's stable growth policies are frequently issued, and the domestic economy is showing a recovery trend, which has injected confidence into the market and formed a strong support for the RMB exchange rate. At the same time, the fall of the US dollar index from a high level also eased the pressure on the passive depreciation of the RMB. In the short term, the exchange rate of the RMB against the U.S. dollar may be difficult to reproduce the previous losing streak.

[ The growth rate of Hainan's industrial investment in the first four months ranked first in the country] It was learned from the Hainan Provincial Department of Industry and Information Technology that from January to April this year, the province's industrial investment completed 16.5 billion yuan, an increase of 67.6% year-on-year, and the growth rate ranked first in the country. First.

Zhimeitong | E-commerce highlights

For more information, please pay attention to the public account; Zhimeitong Research Institute

[eBay Announcement: Relevant regulations on the use of the UKNI mark for products sold to the United Kingdom (Northern Ireland)] eBay issued an announcement saying that the UKNI mark is a new conformity assessment mark, which is suitable for sales to the United Kingdom (Northern Ireland). goods subject to mandatory third-party conformity assessment by a UK-based agency. It is always used in conjunction with the CE marking. You may not use the UKNI mark if you are able to self-declare your product as compliant under the relevant EU legislation applicable to the UK (Northern Ireland), or if you use an EU-based Notified Body for any mandatory conformity assessment/testing. In the above cases, you can still use the CE mark to sell into the UK (Northern Ireland).

Sellers need to ensure that the relevant products they sell to the Northern Ireland market meet the requirements of the UKNI mark. If the seller violates the relevant regulations, eBay will reserve the right to impose restrictions on the illegal listings and accounts, including but not limited to: listing removals and account restrictions.

[eBay issued an announcement: Relevant regulations on the need to use the UKCA mark for products sold to the United Kingdom (Great Britain)] eBay issued an announcement saying that UKCA is the abbreviation of (UK Conformity Assessed), and UKCA is the British Conformity Assessment Mark. Products bearing the UKCA logo indicate that these products comply with UK regulations and are used when the products are sold in Great Britain, England, Scotland and Wales. For further guidance on the use of the UKCA logo, please see the relevant information on the UK Government website.

For most goods, until January 1, 2023, CE marking can still be used in accordance with EU requirements. For most New Approach certified goods, until 1 January 2024 you can affix the UKCA logo to the product's label or accompanying documents.

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