Global Economy Faces Cyber Attacks and Trade Tensions

A cyber-attack on Friday disrupted European airports' automatic check-in and boarding software, causing flight cancellations and delays. Brussels airport has asked airlines to cancel nearly half of their flights on Monday. Software provider Collins Aerospace is working on the issue, with updates nearly complete. Other affected airports, including London Heathrow and Berlin, are recovering, with some airlines using backup systems. The UK's National Cyber Security Centre is working with Collins Aerospace and law enforcement to understand the incident's impact.

Asian markets traded mixed on Monday following the US Federal Reserve's rate cut last week. China's central bank kept its loan prime rates unchanged for the fourth consecutive month, in line with expectations. The decision had a varied impact on regional markets, with Japan's Nikkei 225 and South Korea's Kospi rising, while Hong Kong's Hang Seng Index and India's Nifty 50 fell. The US rate cut has led investors to anticipate further easing, with markets pricing in two more quarter-point cuts by the end of the year. The article also highlights specific stock movements, including Samsung Electronics' 4% jump after Nvidia's approval of its high-bandwidth-memory product and Adani Power's 15% surge following its stock split.

The article discusses the upcoming U.S. personal consumption expenditures price index report, which will be released on Friday, and its potential impact on the Federal Reserve's recent quarter-point rate cut. The report is expected to show headline inflation at 2.8% for the year. The article also covers other news, including a potential TikTok deal between the U.S. and China, a proposed $100,000 annual fee for U.S. H-1B visas, and concerns about the impact of U.S. investment on South Korea's economy. The stock market has reacted positively to the rate cut, with the S&P 500 and Dow Jones Industrial Average reaching new highs.

European stocks were set for a mixed open on Monday as investors reacted to U.S. President Donald Trump's visa crackdown. The Trump administration signed an order to raise the H-1B application fee to $100,000, affecting major tech firms that rely on the visas for highly skilled roles. The move is part of an effort to protect American jobs and marks a further crackdown on immigration. India has hit back at the measure, saying it will have humanitarian consequences. The news comes ahead of a flash estimate for euro zone consumer confidence.

The article provides live updates on the stock market, noting that U.S. stock futures were little changed on Sunday night following a strong week for major averages. The Dow Jones Industrial Average and S&P 500 closed at fresh all-time highs after the Federal Reserve cut interest rates by a quarter percentage point. Markets are now pricing in two more quarter-point cuts by the end of the year. The article also covers other news, including the Trump administration's plan to link Tylenol use during pregnancy to autism and Trump's statement on the Murdochs being potential TikTok deal partners.

The US economy has defied gloomy expectations despite a slowdown in growth, with the Federal Reserve cutting interest rates to boost the economy. Although employment figures were weak in June, July, and August, with less than 30,000 jobs added on average, the overall growth has held up. The article discusses the resilience of the US economy and compares it to other economies, such as Russia and China, which are facing their own challenges. The US economy's ability to withstand the tariff chaos and growth slowdown has been notable, and the Federal Reserve's decision to cut interest rates is seen as a positive step.

The article discusses the current state of Russia's economy amidst the ongoing Russo-Ukrainian war and the impact of Western sanctions. America's Treasury Secretary, Scott Bessent, is quoted as saying that the situation is a 'race' between how long the Ukrainian military can hold up versus how long the Russian economy can withstand the pressure. The article highlights that while the Russian economy is under significant strain, wage growth remains strong. The imposition of tougher Western sanctions, including tariffs on countries buying oil from Russia, could lead to a 'full collapse' of the Russian economy, potentially forcing Vladimir Putin to negotiate.

The article discusses the need for European workers to switch jobs to adapt to the changing economic landscape. The European labour market is ill-suited to an age of disruption, and policymakers have been slow to respond. Mario Draghi, the EU's elder-statesman-in-chief, has proposed a bold agenda to enlarge the single market and unify capital markets, but only 10% of his suggestions have been implemented. The article highlights the challenges facing Europe's economy, including slipping behind America and China, and the need for urgent action to address the issue.

The article discusses the potential consequences of an all-out trade war, questioning whether it would be beneficial. It is set in a hypothetical future where Donald Trump has left the White House, and his successor must decide the fate of the global trading system. The article argues that ending America's one-sided tariff onslaught could bring down the effective trade-weighted tariff rate from the high teens to around 2%. The piece invites the reader to consider the implications of such a decision, touching on the broader context of global economics and the challenges faced by various countries and regions.