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US & China Ink New Trade Deal [Read It And Eat 12-05-2025]




Tensions between the world's superpowers ease as they sign the beginnings of a trade deal. This causes a sharp rise in the price of oil. UK Neo bank Monzo prepares for a huge IPO at a £6 Billion valuation and Pope Leo XIV calls for a ceasefire in the war in Gaza. All this and more in today's Read It And Eat.



Major Headlines

  • U.S. and China agree to ease tariffs, restart trade talks

  • The U.S. and China issued a joint statement following economic and trade talks in Geneva, signaling a potential thaw in tensions. Both sides agreed to suspend 24 percentage points of their respective additional tariffs for 90 days and remove certain duties imposed in early April. China also committed to lifting non-tariff countermeasures. A new bilateral mechanism for continued dialogue will be established, with meetings alternating between the U.S., China, or a third country. U.S. Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer, and China’s Vice Premier He Lifeng will lead discussions. This move is seen as a critical step toward a more stable and mutually beneficial trade relationship. Reuters


  • Hawaii clinches $700M payout from pharma giants over Plavix label dispute

  • Hawaii has reached a landmark $700 million settlement with Bristol-Myers Squibb and Sanofi, ending a 12-year legal battle over alleged misleading marketing of the blood thinner Plavix. The state had accused the companies of failing to disclose the drug's reduced efficacy in people of East Asian and Pacific Island ancestry. Plavix, prescribed to prevent heart attacks and strokes, requires genetic activation that some patients lack. While the firms maintain the drug is broadly safe, this deal—split evenly between the two companies—is a major win for consumer transparency. Reuters


  • Oil prices rise as US-China trade progress boosts market mood

  • Oil prices ticked higher after a weekend of optimistic U.S.-China trade talks calmed investor nerves. Brent crude rose to $64.18 per barrel, while WTI climbed to $61.30. Both benchmarks gained more than 4% last week. Investors are hoping that easing trade tensions between the world's largest oil consumers will help steady global demand, even as OPEC’s production plans keep gains in check. Reuters


  • Monzo prepares for blockbuster £6B IPO, eyes London listing

  • UK-based neobank Monzo is reportedly in the final stages of hiring bankers for a public debut that could value the company worth of £6 billion. Morgan Stanley is expected to take the lead on the listing, with formal appointments likely in the coming months. While the IPO’s timing and location are yet to be finalized, London currently appears to be the frontrunner, especially amid market volatility sparked by U.S. trade tariffs. With over 11 million UK retail users and 600,000 business clients, Monzo is one of Britain’s fastest-growing banks and could also offer a secondary share sale to allow early stakeholders to cash out. Sky News


Minor Headlines


  • Zelenskiy invites Putin to peace talks in Turkey after Trump’s intervention– Reuters

  • McDermott targets $2.8B merger to build alt-investing powerhouse - Non - billable

  • Trump reportedly getting Qatar’s 747 as new Air Force One – New York Times

  • Pope Leo XIV calls for an end to the Gaza genocide in his first Sunday blessing –  New York Times

  • Amazon teases how humans fit into its AI-driven future – Techcrunch

  • Trump fires Copyright Office director amid AI training concerns –  Techcrunch

  •  Fitness tracker Whoop faces backlash over upgrade policy –  Techcrunch

  • Microsoft and OpenAI may be revisiting terms of their mega-partnership –  Financial Times



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