FT News Briefing
Australia’s voters go to the polls
May 2, 2025
Amazon faces challenges from Trump's trade war with weaker forecasts. As Australians prepare to vote, they grapple with inflation and a rising cost of living. The political landscape shows Labor gaining traction amid international tensions. European banks thrive from market volatility, an unexpected boost. Voter sentiments reflect concern over coal dependence versus renewable energy ambitions, showcasing a nation at a crossroads.
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Quick takeaways
- Amazon's weaker earnings forecast reflects the significant challenges posed by the U.S.-China trade war on its business operations.
- Australia's upcoming elections are heavily influenced by economic concerns, with voters prioritizing cost of living issues amidst global trade tensions.
Deep dives
Amazon's Financial Outlook
Amazon has issued a cautionary earnings forecast for the second quarter, projecting an operating income significantly lower than investor expectations. The company cites challenges due to U.S. President Donald Trump's tariffs, which are impacting its costs as it imports a substantial portion of its goods from China. In response to these pressures, Amazon is attempting to negotiate discounts with suppliers in an effort to mitigate the financial blow. Consequently, the company's stock has experienced a decline in value, highlighting the potential risks associated with current market conditions.
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