QtrendsTrump heads to G7 summit amid deep divisions with allies
President Trump is set to attend the G7 summit in France, where trade disputes and the Ukraine war are expected to dominate discussions. The absence of China from the talks has drawn criticism, with analysts arguing that excluding Beijing undermines the summit's relevance. Reports describe the gathering as deeply divided, with Trump's policies creating friction among allies. Indian Prime Minister Modi is also scheduled to meet Trump on the sidelines on June 17.
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A surge in demand from mainland Chinese students is driving up rents in Hong Kong, attracting property investors to the market. Meanwhile, Hong Kong's office sector is exploring investment strategies to counter tenant losses driven by AI adoption. European wealth is also flowing into the city, with 30 family offices reportedly planning operations in Hong Kong, drawn by tax incentives and growth opportunities.
The U.S. Department of Justice has approved Paramount's acquisition of Warner Bros. Discovery, paving the way for a $111 billion merger that would unite two of Hollywood's biggest studios. The deal combines Paramount's CBS with Warner's HBO and CNN, creating a media powerhouse. However, potential lawsuits from state attorneys general could still pose challenges to the merger.
SpaceX made history with the largest IPO ever, with shares surging 19% on the first trading day. The successful debut boosted broader stock markets, which also rallied on progress toward a U.S.-Iran deal. Investors are bullish on SpaceX's long-term prospects, with the IPO cementing its position as the most valuable private company to go public.
Elon Musk has become the world's first trillionaire, with his net worth crossing the $1 trillion mark following the SpaceX IPO. The milestone has sparked widespread discussion about what $1 trillion actually means in real-world terms. Media outlets have published comparisons to help contextualize the staggering figure, from government budgets to everyday goods.