President Donald Trump embarked on his second state visit to the United Kingdom, where he was warmly received by King Charles III, Queen Camilla, and other senior members of the British royal family at Windsor Castle. The visit, marked by traditional British pageantry, began with a ceremonial greeting and an inspection of the guard of honour. Accompanied by First Lady Melania Trump, the President arrived at the castle via Marine One, the presidential helicopter, and was met by the Prince and Princess of Wales. The Trumps were then escorted to the Green Drawing Room, where a special exhibition celebrating the historic ties between the UK and the US was on display. Among the artifacts was John Smith’s ‘Generall Historie of Virginia, New England and the Summer Isles,’ published in 1624. The day continued with a visit to St. George’s Chapel, where the couple laid a wreath at the tomb of Queen Elizabeth II and toured the chapel, including Henry VIII’s vault. The evening concluded with a grand state banquet attended by prominent figures, including Apple CEO Tim Cook, Nvidia CEO Jensen Huang, and media mogul Rupert Murdoch. King Charles delivered a speech honouring President Trump, who expressed his gratitude for the hospitality. However, the visit was not without controversy, as large-scale protests erupted in central London, with demonstrators gathering near BBC headquarters and Parliament Square under the banner ‘Trump Not Welcome.’ Despite the mixed reception, the visit underscored the enduring diplomatic relationship between the two nations.
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Hong Kong leader pledges to boost economy, livelihoods
In a comprehensive policy address delivered on September 17, 2025, Hong Kong Chief Executive John Lee outlined a series of measures aimed at revitalizing the city’s economy, enhancing public welfare, and reinforcing its status as a global hub. Speaking at the Legislative Council, Lee emphasized the government’s commitment to accelerating the development of the Northern Metropolis, a strategic area adjacent to Shenzhen, which is poised to become a new business and residential district accommodating approximately 2.5 million people. This initiative aligns with the broader Greater Bay Area project, which seeks to integrate Hong Kong, Macau, and nine Guangdong cities into a cohesive economic powerhouse. Lee also highlighted plans to establish an international gold trading market, expand the fintech sector, and promote green and sustainable finance. Additionally, the government aims to bolster the aviation industry by developing a sustainable fuel supply chain and attracting pharmaceutical companies to conduct clinical trials and advanced medical treatments in Hong Kong. On the social front, Lee pledged to improve housing conditions, increase worker incomes, enhance elderly care, and provide greater opportunities for young people. He also introduced measures to support pet-friendly businesses and incentivize childbirth through tax allowances. Despite the challenges posed by China’s economic slowdown and ongoing trade tensions with the U.S., Lee reaffirmed Hong Kong’s economic growth forecast of 2% to 3% for 2025, underscoring the city’s resilience and potential as a gateway for mainland enterprises seeking global expansion.
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Fed Reserve cuts interest rates but cautions over stalling job market
In a significant move reflecting growing concerns over the U.S. economy, the Federal Reserve announced a 0.25 percentage point reduction in its key lending rate on Wednesday, bringing the target range to 4%-4.25%. This marks the first rate cut since December 2022 and signals the potential for further reductions in the coming months. The decision, supported by 11 of the 12 voting members of the Federal Open Market Committee, underscores the central bank’s response to a weakening labor market and broader economic risks. Federal Reserve Chair Jerome Powell emphasized that while unemployment remains low at 4.3%, downside risks in the job market have become increasingly apparent. The move contrasts with the Fed’s July assessment, which described the labor market as ‘solid.’ Stephen Miran, a temporary member with ties to the White House, notably advocated for a more aggressive 0.5 percentage point cut. The decision comes amid persistent political pressure from President Donald Trump, who has repeatedly criticized the Fed for its reluctance to lower rates. Trump has accused Powell of stifling economic growth and even threatened to remove him from his position. Despite the political backdrop, analysts argue that the Fed’s decision was driven by economic fundamentals rather than presidential influence. Inflation, which surged post-pandemic, has moderated significantly, while job growth has stalled, with the U.S. reporting minimal gains in August and July and a net loss in June—the first since 2020. Economists predict further rate cuts, with Wells Fargo forecasting a 0.75 percentage point reduction by year-end. However, the Fed remains divided on future policy, with seven members opposing additional cuts and one advocating for rates below 3%. Powell acknowledged the complexity of the current economic landscape, stating, ‘There are no risk-free paths right now.’ The Fed’s independence has also come under scrutiny, as Trump’s administration has sought to influence its decisions through personnel changes and legal battles. Critics warn that such actions threaten the central bank’s autonomy, a cornerstone of its credibility. Despite the political drama, the Fed’s latest move is seen as a necessary step to address economic headwinds and support borrowing costs across the nation.
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Nissan seeks to learn from Chinese supplier strategies as part of cost-cutting drive
Nissan Motor Co Ltd is intensifying its efforts to enhance cost efficiency by studying the practices of Chinese suppliers and integrating their methods into its global operations. The Japanese automaker aims to reduce variable costs by 250 billion yen ($1.71 billion) as part of a broader efficiency initiative, according to Tatsuzo Tomita, Nissan’s chief of total delivered cost transformation. Tomita highlighted the effectiveness of Chinese suppliers in utilizing standardized parts and fostering close collaboration with designers, practices that Nissan is now exploring for its current and future vehicle parts. This strategic move is part of Nissan’s ongoing turnaround plan, which includes cutting approximately 20,000 jobs and consolidating seven plants. The company has set an ambitious target of achieving 500 billion yen in cost reductions by March 2027, with half expected to come from fixed costs and the remainder from variable costs. The initiative aims to secure operating profit and positive free cash flow in Nissan’s automotive business by the same deadline. Following the announcement, Nissan’s shares rose by 1.6%, reaching their highest level since late May. Tomita emphasized that the company is not reducing its supplier base but rather strengthening collaboration. He noted that Chinese suppliers are expanding globally, with operations in Hungary, Morocco, and Turkey, and are being considered as potential partners in Nissan’s international strategy. While acknowledging the significant challenge of the 250 billion yen variable cost reduction target, Tomita expressed confidence in achieving it by maintaining the current momentum and sourcing innovative ideas from employees. The impact of these cost-saving measures is expected to become more apparent by the end of this year or next year, varying across different vehicle models.
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Taiwan shows off first missile to be jointly manufactured with US arms maker
Taiwan has taken a significant step in strengthening its defense capabilities by unveiling its first missile jointly developed with a U.S. company. The Barracuda-500, an autonomous, low-cost cruise missile designed by U.S. defense technology startup Anduril Industries, was showcased at the Taipei Aerospace and Defence Technology Exhibition. This marks a pivotal moment in the growing defense collaboration between Taiwan and the United States, aimed at countering China’s escalating military threats. Taiwan, which China claims as its own territory, has been under increasing pressure from Beijing, including frequent military drills and incursions into its airspace and waters. President Lai Ching-te emphasized the importance of deepening security ties with the U.S., Taiwan’s primary international supporter and arms supplier. The National Chung-Shan Institute of Science and Technology (NCSIST), which displayed the missile, plans to mass-produce it locally through technology transfer. The missile is designed for group attacks on warships, akin to exploding drones. NCSIST President Li Shih-chiang highlighted the goal of building a self-reliant defense system, with production costs kept below T$6.5 million per missile. Li also stressed Taiwan’s unique vulnerability, noting that unlike Ukraine, Taiwan cannot rely on neighboring countries for reinforcements in case of conflict. During the three-day trade show, NCSIST will sign two contracts and six Memorandums of Understanding with U.S. and Canadian companies. Taiwan aims to increase its defense spending to 5% of GDP by 2030, up from 3.3% next year, and seeks broader international support beyond the United States.
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Unification Church leader questioned in ex-South Korea first lady investigation
Han Hak-ja, the leader of the Unification Church, appeared before South Korean prosecutors on September 17, 2025, to face questioning over allegations of orchestrating bribery schemes involving the wife of ousted President Yoon Suk Yeol and a close political ally. The allegations, which Han has vehemently denied, claim she instructed the church to provide bribes to former First Lady Kim Keon Hee and lawmaker Kweon Seong-dong. Han arrived at the special prosecutor’s office in Seoul, where she underwent more than nine hours of interrogation before leaving in a wheelchair, surrounded by media. She firmly responded “No!” when asked if she had ordered the bribes. The Unification Church has also denied any involvement, calling the accusations “false information” and urging its members to pray for Han rather than hold public rallies. The case is part of a broader investigation into corruption during Yoon’s presidency, which has already led to the indictment of Kim Keon Hee and the detention of Kweon Seong-dong, who is accused of attempting to destroy evidence. Prosecutors have not yet considered issuing an arrest warrant for Han, citing her cooperation during questioning. The scandal has drawn significant attention, given the Unification Church’s controversial history and its global influence.
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Spain arrests 19 on suspicion of torture and murder after 50 disappear from migrant boat
In a shocking development, Spanish National Police have apprehended 19 individuals linked to a harrowing migrant boat incident that resulted in multiple deaths and acts of torture. The vessel, which departed from Senegal en route to the Canary Islands, was carrying over 300 passengers, including individuals from Senegal, Guinea, Mali, Gambia, Sierra Leone, and Guinea-Bissau. However, only 248 survivors were rescued on August 24, with dozens reported missing. Authorities suspect that some victims were accused of witchcraft following a series of misfortunes during the journey, such as engine failure, severe weather, and food shortages. Survivors recounted horrific tales of fellow passengers attacking and abusing others, with some being thrown overboard alive. One male passenger succumbed to severe illness after being hospitalized. The suspects, now in pretrial detention, face charges including homicide, assault, torture, and facilitating irregular immigration. This incident underscores the perilous nature of irregular migration routes into Europe, with Spain being a primary entry point. While nearly 47,000 migrants reached the Canary Islands in 2024, marking a record high, this year has seen a significant decline in numbers, according to the Spanish Interior Ministry.
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Japan’s Kansai Electric to resume surveys for nuclear reactor replacement at Mihama halted by Fukushima disaster
Kansai Electric Power Co Inc (9503.T) is set to resume feasibility surveys at its Mihama nuclear power station in western Japan this November, marking Japan’s first significant move towards constructing a new reactor since the Fukushima disaster. The surveys, initially announced in July, will assess the viability of building a successor unit at the Mihama site, which was previously halted following the 2011 catastrophe. The comprehensive studies, expected to continue until around 2030, will include geological investigations both inside and outside the plant premises to identify suitable locations, followed by detailed assessments of topography and ground conditions. Kansai Electric emphasized that the findings will be evaluated alongside advancements in light-water reactor technology, regulatory policies, and the overall business environment before making a final decision on the new unit. The initial surveys for a replacement reactor at Mihama began in late 2010 but were suspended after the Fukushima incident. The renewed efforts will adhere to stricter safety regulations implemented post-disaster. Currently, only the No. 3 unit at Mihama remains operational, as the No. 1 and No. 2 units are being decommissioned. Since 2022, Kansai Electric has been collaborating with Mitsubishi Heavy Industries (7011.T) and other utilities, including Kyushu Electric Power (9508.T), Shikoku Electric Power (9507.T), and Hokkaido Electric Power (9509.T), to develop a next-generation 1.2-gigawatt advanced light-water reactor, known as ‘SRZ-1200.’ This consortium aims to enhance nuclear technology while ensuring compliance with modern safety standards.
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African manufacturers in last-ditch bid to extend US trade programme
African manufacturers are intensifying efforts to secure a temporary extension of the African Growth and Opportunity Act (AGOA), a pivotal trade initiative set to expire at the end of September. Pankaj Bedi, chairman of United Aryan, a Kenyan apparel company supplying major U.S. retailers like Target and Walmart, revealed that delegations from Kenya and four other AGOA beneficiary nations recently visited Washington to lobby for a one- to two-year extension. The program, established in 2000 under President Bill Clinton, grants duty-free access to the U.S. market for thousands of African products, fostering economic development and job creation across sectors such as textiles, automotive, and mining. However, the aggressive tariff policies of former President Donald Trump have cast uncertainty over its renewal. Despite bipartisan support, last year’s attempt to extend AGOA for 16 years failed to reach a Congressional vote. Bedi emphasized that without an extension, manufacturers face steep tariff hikes, potentially leading to mass layoffs and a shift in U.S. reliance back to Asian manufacturers, particularly China. The White House has yet to publicly endorse an extension, leaving the future of AGOA in limbo.
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India’s Urban Company soars 74% in trading debut, hits about $3 billion valuation
Urban Company Limited, a leading player in India’s home-services sector, made a spectacular debut on the National Stock Exchange (NSE) on September 17, 2025. The company’s shares surged by 74%, catapulting its valuation to nearly $3 billion. This marked one of the most successful initial public offerings (IPOs) of 2025, with the issue being oversubscribed by a staggering 103.65 times, attracting bids worth approximately $13 billion. Urban Company’s stock opened at a 57.5% premium to its issue price, far exceeding analysts’ predictions of a 40%-51% upside. The shares hit a high of 179 rupees during the trading session and closed at 166.8 rupees, up 62% from the issue price. The IPO’s success underscores investor confidence in Urban Company’s dominance of India’s largely unorganized home-services market, which is projected to grow at a compound annual growth rate of 22.4% from 2023 to 2030, according to Grand View Research. Aishvarya Dadheech, founder of Fident Asset Management, noted that the enthusiasm reflects Urban Company’s position as a long-term play on digital adoption and rising demand for home services. The listing also coincided with a broader uptick in Indian equities, buoyed by optimism surrounding U.S.-India trade talks. The blue-chip Nifty 50 index has risen 7% in 2025 but remains 4% below its record levels from a year ago. Urban Company’s debut is a testament to the resilience and growth potential of India’s IPO market, which has rebounded after a slow start to the year and is on track to set new fundraising records.