United States Steel Corp (NYSE: X) has rallied more than 20% in recent sessions on the back of Trump’s approval for its long overdue deal with the Tokyo based Nippon Steel (TYO: 5401).

According to the US President, the said transaction, details of which have eluded the media so far, will see the Japanese steelmaker invest some $14 billion in the US that he believes will help create as many as 70,000 jobs in the country.

However, experts remain wary of that number as the math just doesn’t seem to add up here.

US Steel doesn’t employ half as many employees currently

There are several reasons why Trump’s claim that the US Steel – Nippon agreement will create about 70,000 jobs will prove a miscalculation over time.

For starters, the NYSE listed firm currently has a total of about 20,000 employees only – and that’s including the non US based positions.

Adding 70,000 jobs, as the President claims this deal will over time, would mean a more than five times increase in the company’s current domestic workforce.

This scale of expansion is quite unprecedented and will require a massive increase in the overall production capacity. Note that the steel stock is now up more than 60% year-to-date.

Labour unions are not happy with the US Steel – Nippon deal

Investors are recommended to take the President’s claim of 70,000 new jobs with a pinch of salt as he hasn’t yet offered more colour on how these jobs would be created, whether they’d be direct hires at US Steel or indirect jobs in related industries.

Without a clear breakdown, the number appears speculative only, especially since it’s not backed by Nippon or even the unions.

In fact, the United Steelworkers union has expressed doubts about the deal, noting that the Japan’s behemoth did not consult it before announcing that transaction.

If labour unions are not fully on board, it could lead to resistance or delays in job creation, making it incrementally more challenging for the merged company to hit that 70,000 number.  

Global steelmakers have been turning to automation

Investors should also note that modern steel production relies heavily on automation, reducing the need for large-scale hiring.

So, Nippon may invest $14 billion, part of which will reportedly go to setting up a new steel mill in the US – but even the new facilities may not require as many workers as the White House has recently claimed.

Finally, the regulatory hurdles could limit the scope of US Steel – Nippon transaction in terms of creating new jobs in the United States.

Given these variables, President Trump’s claim of 70,000 new jobs seems highly optimist and very difficult to achieve under current industry conditions.

That may be part of the reason why Nippon stock is slipping following his announcement.

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Chasing a Bitcoin rally has historically been a risky move, but “the current environment appears fundamentally different,” says Chris Brendler, a Rosenblatt analyst.

Bitcoin has rallied to record levels in recent sessions on the back of a 90-day trade truce between the US and China. Plus, Moody’s recent downgrade of the US credit rating has driven capital into the digital store of value as well.

Still, Brendler sees BTC prices pushing further to the upside in the back half of 2025.

Why is Rosenblatt bullish on Bitcoin?

Rosenblatt analyst Chris Brendler is convinced that the Trump administration favourable stance on cryptocurrencies is changing the global attitude towards cryptocurrencies.

President Trump has even signalled plans of setting up a strategic BTC reserve, leading to “rising interest from global pools of capital that are starting to seriously consider investing in Bitcoin,” he added in a research note.

However, Brendler argued that institutional ownership of the world’s largest crypto by market cap remains modest only while the “sovereign/corporate interest is just getting started” to forecast a continued increase in demand and, therefore, sustainable momentum in BTC moving forward.

If his Bitcoin price prediction proves true, following are the two stocks that could benefit the most.

Mara Holdings Inc (NASDAQ: MARA)

Chris Brendler expects Mara shares to benefit from a continued increase in Bitcoin price as it tends to trigger a rebound in hashprice.

Mara Holdings is a “pure-play” crypto miner, meaning its core business is generating Bitcoin.

So, a higher price tag on the digital asset translates to better revenues and improved profitability for MARA.

A healthy bottom-line in turn enables the Nasdaq listed firm to reinvest into expanding its mining operations, improving efficiency, and adopting new technologies like immersion cooling, which reduces costs and enhances performance.

Other Wall Street analysts agree with Brendler’s bullish view on Mara stock as well.

The consensus rating on the mining company currently sits at “buy” with the mean target of about $20 indicating potential upside of about 45% from here.

Terawulf Inc (NASDAQ: WULF)

Rosenblatt also sees Terawulf shares rallying on the back of continued upside in BTC in the back half of 2025 for similar reasons as Mara Holdings.

The hybrid miner stands to benefit from a Bitcoin price increase as it often unlocks upside in the entire crypto sector. Investors tend to flock to crypto-related stocks when the digital asset is doing well, driving higher demand and stock price appreciation for the likes of WULF.

Chris Brendler is constructive on the Nasdaq listed firm even though it came in shy of profit and revenue estimates in its latest reported quarter.

That said, Wall Street also currently has a consensus “buy” rating on Terawulf stock with upside to $6.79 on average.  

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The world’s most vulnerable economies are facing a mounting financial crisis, with debt repayments to China reaching record highs in 2025, according to new research by the Lowy Institute.

The Australian thinktank’s report warns that 75 of the poorest nations are collectively due to repay $22 billion to Beijing this year—more than two-thirds of the total $35 billion owed to China globally.

“Now, and for the rest of this decade, China will be more debt collector than banker to the developing world,” the report said.

The report describes the situation as a “tidal wave” of repayments that is likely to strain national budgets already under pressure from slow economic growth, rising inflation, and climate-related costs.

These repayments, many of which stem from infrastructure loans issued under China’s Belt and Road Initiative (BRI), are now threatening public spending in critical sectors like health and education, the report said.

Belt and Road Initiative legacy under scrutiny

China’s Belt and Road Initiative, launched under President Xi Jinping, was intended to expand Beijing’s global influence by investing in roads, railways, ports, and energy projects, especially across the Global South.

Between 2013 and 2016, China became the world’s largest bilateral lender, with its annual overseas lending peaking at more than $50 billion.

The initiative helped fund national development projects in countries often excluded from Western financing, but many of these loans are now maturing.

The Lowy report notes that as repayments increase and fresh Chinese lending dwindles, developing nations are left in a tight fiscal bind.

“China’s lending has collapsed exactly when it is needed most, instead creating large net financial outflows when countries are already under intense economic pressure,” the report said.

Is Beijing trapping countries in debt?

Beijing has repeatedly denied using debt for political gain, but the Lowy Institute says the current repayment cycle offers China significant leverage, particularly as Western donors scale back foreign aid.

The report highlights that some nations—including Honduras, Nicaragua, and the Solomon Islands—secured large Chinese loans soon after switching diplomatic recognition from Taiwan to China.

Other countries continue to receive support due to their geopolitical importance or mineral resources.

These include Pakistan, Laos, Kazakhstan, and mineral-rich states like Argentina, Brazil, and Indonesia.

The scale and pattern of lending, combined with Beijing’s opaque financial practices, have prompted warnings from analysts about the potential for subtle political influence.

Last month another analysis by the Lowy Institute found that Laos was now trapped in a severe debt crisis, in part because of over-investment in the domestic energy sector, mostly financed by China.

Debt burden complicates China’s own challenges

China’s position as a creditor is further complicated by its own economic headwinds.

With domestic growth slowing and its financial sector under stress, Beijing is under pressure to recover funds from overseas while managing its international reputation.

The report suggests this could lead to inconsistent approaches to debt restructuring, leaving debtor nations in uncertainty.

Moreover, the lack of transparency around Chinese lending remains a persistent issue.

The Lowy Institute’s estimates are based on World Bank data but are likely conservative.

AidData’s 2021 report claimed that China’s “hidden debt” could be as high as $385 billion, given the number of off-book and opaque financial agreements made with developing countries.

Risk of a deepening crisis

As the repayment deadlines approach, many countries face difficult trade-offs between servicing debt and funding basic development needs.

Budget cuts in health, education, and climate mitigation risk undoing years of progress.

With limited options for new borrowing, nations may increasingly seek debt relief or restructuring—but that too depends on Beijing’s willingness to engage.

In the absence of coordinated international support, experts warn that the debt pressures building across the developing world could deepen inequality and spark social unrest, with implications that go far beyond fiscal spreadsheets.

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European stock markets presented a somewhat mixed but generally positive picture at Tuesday’s open, with the pan-European Stoxx 600 index ticking higher.

London’s FTSE 100 notably outperformed, surging as trading resumed after a long Bank Holiday weekend, buoyed by a temporary reprieve in US-EU trade tensions.

However, concerns over rising UK food inflation and cautious German consumer spending tempered broader optimism.

Approximately 15 minutes into the trading day, the Stoxx Europe 600 index was trading 0.2% higher, indicating a modest overall advance.

However, performance across national bourses varied.

The UK’s FTSE 100 index of blue-chip shares jumped impressively, up 75 points, or 0.85%, to 8792 points, approaching a two-month high.

This relief rally in London was largely attributed to news that US President Donald Trump had delayed his threatened hike on EU tariffs to 50% until July, temporarily cooling fears of an escalating trade war.

Leading the FTSE 100 risers were engineering group Melrose (+3.8%), followed by technology firm DCC (+2.4%) and aerospace giant Rolls-Royce (+2%).

In contrast, mainland European markets showed more restraint.

France’s CAC 40 declined by 0.2%, while Germany’s DAX held steady, suggesting a more cautious investor stance on the continent.

Economic undercurrents

Despite the cheer in London’s equity market, fresh economic data highlighted ongoing inflationary pressures in the UK.

Food inflation rose by 2.8% year-on-year in May, according to the British Retail Consortium (BRC).

This marked the fourth consecutive month of price increases in this category, up from 2.6% year-on-year growth in April and exceeding the three-month average of 2.6%.

Helen Dickinson, Chief Executive of the BRC, stated on Tuesday that “fresh food prices were the main driver of the price rises, with wholesale beef prices increasing.”

She argued that increased costs being levied on businesses were having a clear inflationary impact.

“With retailers now absorbing the additional £5bn in costs from April’s increased Employer National Insurance contributions and National Living Wage, it is no surprise that inflation is rearing its head once again,” Dickinson said.

Meanwhile, in Germany, consumer sentiment showed signs of improvement in May, as per the GfK Consumer Climate report released on Tuesday.

This marked the third consecutive month of an upward trend for the index, partly driven by slowing inflation and “good wage settlements.”

However, despite this improvement, overall sentiment remained low, and analysts noted that consumers were hesitant to make discretionary purchases.

This reluctance was attributed to the ongoing threat of US tariff policies.

“The unpredictable customs and trade policy of the US government, turbulence on the stock markets and fears of a third consecutive year of stagnation are reasons why the consumer climate remains weak,” commented Rolf Bürkl, consumer expert at the NIM, in a statement on Tuesday.

In view of the general economic situation, people seem to think it advisable to save.

The GfK Consumer Climate report, which surveyed around 2,000 German consumers between May 1 and May 12, was jointly published by NIQ and the Nuremberg Institute for Market Decisions.

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Samsung is actively pursuing strategic moves on multiple fronts to bolster its technological prowess and market reach, with its investment arm reportedly in talks to back US health-care innovator Exo Imaging Inc., even as Samsung Electronics finalizes a major acquisition in the HVAC sector.

Samsung Electronics Co.’s investment division, Samsung Ventures Investment Corp., is reportedly among a consortium of firms looking to invest in Exo Imaging Inc., a US-based company specializing in health-care software and devices.

According to people familiar with the matter who spoke to Bloomberg, Samsung Ventures may participate in a private fundraising round for Exo.

This round is said to be led by Sands Capital, Bold Capital, and Qubit Health Capital.

The sources, who requested anonymity due to the private nature of the information, indicated that Santa Clara, California-based Exo could secure approximately $100 million in total funding from this round.

In a significant development tied to this potential investment, Qubit Health Chairman Omar Ishrak is also reportedly set to join Exo’s board.

Ishrak brings a wealth of experience to the role, having previously served as chief executive officer at Medtronic Plc and headed General Electric Co.’s health-care business.

Furthermore, Exo is said to be in discussions for a potential partnership with Samsung Medison Co., a Samsung subsidiary renowned for its ultrasound diagnostic devices and its sales of digital X-ray systems and scanners.

These discussions, along with the investment details, are reportedly ongoing, and the specifics could change, the people familiar with the matter cautioned.

When approached for comment, Samsung declined, while Exo, Sands Capital, Bold Capital, and Qubit Health Capital did not respond to requests. Ishrak also did not immediately respond.

Samsung Electronics acquires FläktGroup for €1.5 billion

In a separate but significant strategic maneuver, Samsung Electronics announced on May 14 its agreement to acquire all shares of FläktGroup, a leading global provider of Heating, Ventilation, and Air Conditioning (HVAC) solutions, from European investment firm Triton for €1.5 billion.

This acquisition underscores Samsung’s commitment to expanding and fortifying its presence in the rapidly growing global applied HVAC market.

“Through the acquisition of FläktGroup, an applied HVAC specialist, Samsung Electronics has laid the foundation to become a leader in the global HVAC business, offering a full range of solutions to our customers,” stated TM Roh, Acting Head of the Device eXperience (DX) Division at Samsung Electronics.

Our commitment is to continue investing in and developing the high-growth HVAC business as a key future growth engine.

FläktGroup, headquartered in Herne, Germany, boasts over a century of technological expertise and design capabilities.

The company offers a diverse range of products and solutions tailored to various customer needs, supplying high-reliability and high-efficiency HVAC systems to a wide array of buildings and facilities.

These include critical environments such as data centers requiring stable cooling, museums and libraries managing sensitive historical artifacts, high-traffic airports and terminals, and large hospitals where hygiene, temperature, and humidity control are paramount.

FläktGroup’s strength in data centers and specialized industries

FläktGroup has established a strong reputation in the global large-scale data center market, achieving high customer satisfaction through its product performance, reliability, and service support.

This has translated into substantial revenue growth for the company over the past three years.

FläktGroup’s data center solutions feature industry-leading liquid cooling and air cooling products, which have enabled customers to reduce energy consumption and contribute to achieving lower carbon footprint goals.

Last year, FläktGroup’s innovative technologies were recognized with the DCS Cooling Innovation of the Year Award at the DCS Cooling Awards.

Trevor Young, CEO of FläktGroup, expressed enthusiasm about the acquisition:

We are extremely pleased that FläktGroup has become a part of Samsung Electronics. FläktGroup, as a global top-tier HVAC specialist with over a century of expertise, has been relied on by global large clients for its technological and product innovations. Now, with Samsung Electronics’ global business foundation and investment, we expect to further accelerate our growth.

Beyond data centers, FläktGroup has cultivated a diverse portfolio of over 60 large customers, including leading pharmaceutical companies, biotech and food and beverage firms, and gigafactories, showcasing its broad market applicability and established client base.

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