😲Volvo Will Cut 3,000 Jobs

☀️Good morning. It's Tuesday, May. 27, and we're covering, Volvo Cars To Slash 3,000 Jobs Amid Global Auto Turmoil, Putin Threatens To ‘Strangle’ Big Tech Firms Like Zoom And Microsoft, King And Queen Visit Canada Amid Sovereignty Tensions, and much more. First time reading? Sign up to get this newsletter: Sign up here. 

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $3.43 Trillion, a 0.87% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $110.15B, which makes a 8.02% increase.

• The total volume in Defi is currently $38.81B, 35.23% of the total crypto market 24-hours.

• The volume of all stablecoins is now $105.23B, which is 95.53% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 63.25%, an increase of 0.04% over the day.

Trump Media To Raise $3B For Crypto Investments

Trump Media & Technology Group plans to raise $3 billion, $2B in equity and $1B via convertible bonds — to invest in cryptocurrencies like Bitcoin. The company, which owns Truth Social, has recently expanded into crypto-aligned financial products under Trump’s “America First” brand. The capital raise comes as Trump Media pushes into crypto ETFs and retail investments, raising fresh ethical questions. Critics say the move blurs lines between political power and personal financial gain. (Read Deeper)

BUSINESS & FINANCE

Volvo Cars To Slash 3,000 Jobs Amid Global Auto Turmoil

Volvo Cars, owned by China’s Geely, will cut 3,000 mostly white-collar jobs in Sweden—about 15% of its office workforce as part of a sweeping $1.9 billion cost-cutting plan. The company cites falling global sales, rising material costs, and market uncertainty stemming from U.S. tariffs and the sluggish European economy. The layoffs come amid a broader industry shakeup, with rivals like Nissan also announcing major job cuts.

Why It Matters: Volvo’s decision reflects deeper challenges in the global auto sector, where electric vehicle (EV) ambitions are colliding with geopolitical headwinds and slowing demand. The Swedish brand’s retrenchment adds to mounting evidence that automakers are struggling to sustain EV momentum amid price wars, tariffs, and market saturation. (Read Deeper)

Xiaomi’s New SUV Targets Tesla Model Y With Longer Range, Lower Price

Xiaomi is turning up the heat in China’s EV market. Just months after launching its first electric vehicle, the smartphone giant unveiled its second: the YU7 SUV. The new model boasts a range of 760 km (472 miles), besting Tesla’s extended-range Model Y (719 km) — and could be priced between $34,700 and $44,420, right in Tesla’s lane. Analysts predict the YU7 could sell up to 360,000 units annually and “significantly erode” the Model Y’s market share in China. Tesla’s Model Y was China’s second-best-selling EV over the past six months, but it’s now being outpaced by cheaper options like BYD’s Seagull, and by Xiaomi’s own SU7 sedan.

Why It Matters: Xiaomi’s entry into electric vehicles isn’t just about building cars, it’s about disrupting one of the world’s most important growth industries. With a strong brand, competitive pricing, and aggressive specs, Xiaomi is positioning itself as a serious rival to Tesla in China — the world's biggest EV market. (Read Deeper)

TECHNOLOGY & SCIENCE

Putin Threatens To ‘Strangle’ Big Tech Firms Like Zoom And Microsoft

Russian President Vladimir Putin is calling for the “strangling” of U.S. tech giants such as Microsoft and Zoom, demanding they be replaced by domestic alternatives. The remarks came during a meeting with Russian business leaders, where Putin blasted Western companies for continuing limited operations despite publicly exiting Russia following the Ukraine invasion. He also lashed out at McDonald’s, vowing not to welcome back any firm that left "under political pressure."

Why It Matters: Putin’s comments signal an intensifying tech and economic decoupling from the West, as Russia doubles down on autarky and retaliatory measures amid sanctions and war fallout. The rhetoric could further isolate Russia’s tech sector, impact global platforms still partially operating there, and complicate future reinvestment if geopolitical winds shift. (Read Deeper)

Nvidia To Launch Cheaper Blackwell AI Chip For China After U.S. Export Ban

Nvidia is preparing a new AI chip for China based on its Blackwell architecture, priced between $6,500 and $8,000 — significantly cheaper than the now-banned H20 model. The chip uses less advanced components like GDDR7 memory and omits high-end packaging technologies to comply with U.S. export restrictions. Mass production is expected to begin in June.

Why It Matters: China accounted for 13% of Nvidia’s revenue last year, but U.S. curbs have slashed its market share there from 95% to 50%. The new chip is a strategic effort to hold onto the $50B Chinese data center market while staying within U.S. export control limits. Meanwhile, local rivals like Huawei are rapidly catching up, threatening Nvidia’s dominance in the region. (Read Deeper)

AROUND DE WORLD & POLITICS

King And Queen Visit Canada Amid Sovereignty Tensions

King Charles III and Queen Camilla have touched down in Canada for a high-stakes, symbolic visit that goes far beyond royal tradition. In a time of rising geopolitical tension and recent annexation comments from Donald Trump, the King’s presence is being widely interpreted as a powerful reaffirmation of Canada’s sovereignty, identity, and enduring bond with the Crown. During their whirlwind 24-hour trip, Their Majesties were warmly received by crowds, met Indigenous leaders, voiced support for Ukraine, and toured community hubs in Ottawa.

Why It Matters: This is monarchy as strategic diplomacy. At a moment when Canada faces external pressure and internal debate about its future role on the world stage, King Charles’s visit is a symbolic stand for national identity, democratic tradition, and unity. (Read Deeper)

Bank Of Korea Expected To Cut Rates On May 29 Amid Economic Slowdown

The Bank of Korea is expected to cut its benchmark rate by 25 basis points on May 29, according to a Reuters poll of 36 economists. With inflation easing to near-target levels (2.1%) and Q1 GDP shrinking by 0.2%, the central bank has room to act. Markets now expect a series of cuts through year-end, potentially bringing the rate down to 2.00%.

Why It Matters: This would be the BOK’s first rate cut in nearly two years, signaling a clear pivot toward supporting growth. Slowing global demand, a strong rebound in the won, and softer inflation give policymakers cover to ease. With fiscal stimulus also ramping up after the June presidential election, Korea is laying the groundwork for a coordinated push to revive its economy. ( Read Deeper)

ENTERTAINMENT & SPORTS

Liverpool Parade Turns Tragic As Car Rams Crowd, Injuring Dozens

What began as a jubilant celebration for Liverpool’s Premier League title turned horrifying as a car drove through a crowd of fans in the city centre, injuring nearly 50 people — including four children. A 53-year-old local man was arrested at the scene. Authorities confirmed the incident is not terror-related, though two victims, including a child, are in serious condition. The crash echoes painful memories of past tragedies involving Liverpool fans, including the Hillsborough disaster. The motive remains unclear, but the emotional toll is already immense. (Read Deeper)

Ronaldo Hints At Al Nassr Exit: “This Chapter Is Over”

Cristiano Ronaldo appears to be closing the curtain on his Al Nassr chapter. After scoring in a season-ending 3–2 loss to Al Fateh, the 40-year-old superstar shared a cryptic message on social media: “This chapter is over. The story? Still being written.” With his $200M/year contract expiring in June, Ronaldo’s future remains uncertain — but retirement doesn’t seem to be in the cards just yet. Reports suggest he’s received a major offer from a top Brazilian club, potentially teeing up a Club World Cup appearance this summer. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• How Billionaires REALLY Think: 20 Questions Answered? (Listen)

EXTRA BREVITI

• India & Pakistan's Drone Clashes Mark Start of a New Arms Race. (Read More)

• AI's insatiable energy demands are sparking a nuclear renaissance, not fusion, but fission. (Read More)