Meanwhile, across Europe, there was a glimmer of optimism. Fresh data showed that Eurozone lending has surged to its highest level in two years, supported by lower borrowing costs and accommodative ECB policy. Economists say this rebound could fuel corporate investments and consumer demand, potentially stabilizing growth across the bloc despite global uncertainties.
In the corporate arena, ByteDance, the parent company of TikTok, has overtaken Meta in valuation, reaching $330 billion. The company announced a share buyback program for employees, signaling confidence in its long-term growth and further fueling speculation of a blockbuster IPO. ByteDance’s rapid expansion underscores the shifting balance in global tech dominance, with Chinese firms increasingly challenging U.S. giants.