Trump’s Tariffs Trigger Stock Market Plunge, Impacting Espanyol’s Chinese Owners
Trade tensions initiated by former U.S. president Donald Trump are rippling across the globe, indirectly affecting the financial standing of Rastar Group, the Chinese conglomerate that owns a near-total stake (99.6%) in the Spanish football club Espanyol.
Shenzhen Stock Exchange Suffers Steepest Drop Since 2008 Crisis
The Shenzhen Stock exchange, where Rastar Group is listed, experienced a dramatic downturn following the implementation of tariffs on Chinese goods. the exchange closed with a staggering 9.66% loss on Monday, marking the most significant single-day drop as the 2008 financial crisis.
Rastar Group Shares Plummet Amidst Trade War Fallout
Rastar Group,controlled by Chen Yansheng (Espanyol’s president) and his family,faced even steeper losses. shares of the company plunged a full 20% on Monday, falling from an opening value of 3.46 yuan to close at 2.96 yuan.
Indirect Impact on Espanyol Expected
While the stock market losses won’t immediately translate into financial problems for Espanyol,they are expected to influence the club indirectly. Rastar Group had already announced plans for disinvestment, a strategy that might potentially be accelerated by the recent economic turbulence. Chen Yansheng and his son, chen Chuanghuang, who is now president of the conglomerate, have been overseeing this shift.
China Set to Impose 34% Tariffs on U.S. Goods, Escalating Trade War
Beijing will impose tariffs of 34% on goods imported from the United states.The move, slated to take effect this Thursday, is a direct response to trade policies enacted by the former Trump administration, further escalating tensions between the two economic superpowers.
Tariffs Take Effect Amidst Ongoing Trade disputes
The implementation of thes tariffs represents a significant escalation in the ongoing trade disputes between China and the United States. The tariffs are expected to impact a wide range of U.S. products entering the Chinese market,possibly affecting various industries.
The ongoing trade tensions between China and the United States could potentially impact the prospective sale of Espanyol, the Spanish football club.
US-China Trade War Casts Shadow on Potential Espanyol Sale
The ownership group, Rastar, has reportedly engaged in negotiations with multiple investment groups from the United States regarding the sale of the club.
Rastar’s Negotiations with US investors Amidst Trade Uncertainty
It remains uncertain whether these negotiations will continue to be triumphant given the current climate, as the reciprocal flow of investment between the two countries is now uncertain.
Real Madrid Clinches 36th La Liga Title After Barcelona Loss
Real Madrid secured their 36th La Liga title on Saturday, May 4, 2024, after a dominant season capped off by Barcelona’s 4-2 defeat against Girona. The victory solidified Real Madrid’s position at the top of the league standings with an insurmountable lead.
Dominant Season Culminates in Championship Victory
Real Madrid’s stellar performance throughout the 2023-2024 season paved the way for their title win. Barcelona’s loss to Girona at the Estadi Montilivi mathematically confirmed Real Madrid’s title,sparking celebrations among players and fans alike. Real Madrid defeated Cadiz 3-0 earlier in the day, setting the stage for Barcelona to fall to Girona and effectively clinch the title.
Key Moments and Performances
Despite a season plagued with injuries to key players like Thibaut Courtois and Eder Militao, Real Madrid showcased resilience and tactical prowess under their coach.Standout performances from Jude Bellingham, Vinicius Junior, and othre squad members were instrumental in maintaining consistent results. Bellingham, in his first season with Real Madrid, surpassed all expectations by scoring goals and becoming crucial in the team’s build-up play.
Barcelona’s Defeat Seals the Deal
Barcelona’s defeat against Girona underscored their inconsistent form this season. Girona’s victory not only handed Real Madrid the title but also highlighted their own extraordinary campaign, as they currently contend for a Champions league spot.A hat-trick from girona’s striker, Cristhian Stuani, contributed to the Barcelona’s defeat.
Celebrations Commence in Madrid
Following Barcelona’s loss, Real Madrid fans gathered at Cibeles Square in Madrid, the traditional location for celebrating the club’s title victories. The celebrations are expected to continue in the coming days.
Looking Ahead
With the La Liga title secured, Real Madrid now shifts focus to the UEFA Champions League, where they are set for a semi-final clash against Bayern Munich. The team aims to add another Champions League trophy to their illustrious history,further solidifying their status as one of Europe’s top clubs.
