Key Events This Week: Warsh Nomination Hearing, Retail Sales, Fed Blackout, Earnings

Kalshi Bans 3 US Politicians For Betting On Their Own Election Races Authored by Stephen Katte via CoinTelegraph.com, Two US congressional candidates and one sitting lawmaker have received fines and bans from Kalshi after they were found betting on the outcomes of their election races, as prediction market platforms crack down on insider trading. Matt Klein, a sitting member of the Minnesota State Senate, was fined $539 for betting on his primary race in his bid for the US House of Representatives, which is set to take place in August. Ezekiel Enriquez, who ran...

Private Sector Struggles In Major Chinese Industrial Base As Export Orders Shrink: Local Businessmen Authored by Alex Wu via The Epoch Times (emphasis ours), Amid China’s persistently sluggish economy, Zhejiang Province, a major production and industrial base in eastern China, is seeing a decline in trade orders as private enterprises struggle to stay afloat, according to industry professionals who spoke with The Epoch Times. Workers load goods for export into a container at a logistics hub in Yiwu, Zhejiang Province, China, on April 29, 2025. Kevin Frayer/Getty Images As the “hollowing out” of...

Rheinmetall Plunges After Germany Scraps Warship Order Rheinmetall shares plunged as much as 17%, the largest intraday drop in more than a year, after the Financial Times reported that Berlin has scrapped a multi-billion-euro program to build six F126 frigates. The German Ministry of Defense told FT on Wednesday that the decision was due "to significant delays in the project, foreseeable cost increases and the risks that would have been associated with a change of main contractor," adding that changing the contractor would have added even more costs but also required...