LONDON, May 11, 2026 — A two-week trial opened at London’s High Court on Monday as online fast-fashion rival Shein accused U.S.-listed Temu, owned by PDD Holdings, of copyright infringement “on an industrial scale.” Shein says Temu used thousands of photos taken by Shein staff to advertise copies or near-identical versions of Shein’s own-brand clothing, alleging the conduct was intended to secure an unfair market advantage. Temu has dropped its defence to Shein’s claims over roughly 2,300 photographs, according to Shein’s lawyers, and has counter-claimed for damages after an injunction required it to remove thousands of listings. Temu denies the wider allegations, saying Shein’s litigation is aimed at stifling competition; it has also accused Shein of breaching competition law by tying suppliers to exclusive deals, a separate strand of litigation due at trial next year. The London case is part of parallel litigation in the United States and comes as regulators tighten cross-border e-commerce rules — including the removal of a U.S. low-value parcel exemption and an EU change due in July — that could affect both companies’ low-price business models.

Jardine Matheson said on May 25 it will acquire Australia’s I-MED Radiology Network for an enterprise value of A$3.4 billion (about $2.4 billion), buying a 100% stake from funds advised by private equity firm Permira and other shareholders. The purchase includes I-MED’s minority holding in AI developer Harrison.ai. Jardines said the deal will be funded through cash reserves and debt financing, is expected to be neutral to underlying earnings per share in the first full year after closing and accretive thereafter, and is subject to regulatory approvals with completion expected later in 2026. I-MED operates roughly 215 diagnostic imaging clinics across Australia and New Zealand, performs more than seven million procedures annually, and provides teleradiology services in Australia, New Zealand and the United States. Jardines’ chief executive Lincoln Pan described the acquisition as aligned with a strategy to invest in market-leading, growth businesses. The deal values I-MED at about 11.5 times forecast adjusted EBITDA for the year ending June 2026 (excluding the Harrison.ai stake).

Singapore’s economy grew 6.0% year-on-year in the first quarter of 2026, the Ministry of Trade and Industry said on May 25, revising growth well above an earlier advance estimate. On a seasonally adjusted quarter-on-quarter basis the city-state expanded 1.0%. Growth was driven by strong wholesale trade, manufacturing and finance and insurance, with robust AI-related demand lifting electronics and precision engineering clusters and boosting non-oil exports (reported up c.9.6% in Q1). The government kept its 2026 growth forecast at 2.0–4.0% but warned that downside risks had “risen significantly” amid the U.S.-Israel-Iran conflict, disruptions around the Strait of Hormuz and higher energy and input costs that have hit fuels and chemicals and prompted some firms to declare force majeure. Authorities signalled they will monitor developments and adjust forecasts if needed; the central bank has already tightened policy in April to counter inflationary pressures while Enterprise Singapore raised export growth expectations on resilient AI demand.

Opposition leader Rahul Gandhi on May 25 denounced Prime Minister Narendra Modi after state-owned fuel retailers raised petrol and diesel by ₹2.61–2.71 per litre, marking the fourth pump-price increase in under two weeks. The rapid sequence of adjustments — following revisions on May 15, May 19 and May 23 — has pushed cumulative rises to roughly ₹7–8 per litre since mid‑May. With petrol in Delhi moved to ₹102.12 and diesel to ₹95.20, prices vary across states due to local taxes; Mumbai, Kolkata and Chennai reported higher retail rates. The government and oil marketing companies cite surging international crude, tightening refining margins and a weaker rupee — factors linked to recent Middle East tensions and shipping disruptions — as drivers of the passthrough. Opposition lawmakers labelled the hikes a “silent tax,” accusing the ruling party of delaying increases until after elections and questioned why state-run OMCs, which together control about 90% of the market, reported substantial profits (reported combined profit of ₹77,280.65 crore in FY2025‑26). Congress figures including Priyank Kharge, Manickam Tagore and Manish Tewari warned that repeated increases will lift transport costs, push consumer prices higher and dent household incomes.

India's central bank said on May 25 it will do “whatever is required” to ensure orderly movements in the foreign exchange market, Reserve Bank of India Governor Sanjay Malhotra told Mint. The rupee has weakened about 6% since the West Asia war began on Feb. 28 and, by some measures, now looks undervalued in both nominal and real effective exchange rate (REER) terms. Malhotra stressed the RBI does not target a specific exchange rate level but stands ready to intervene if speculative pressures build. The central bank has nearly $700 billion in foreign exchange reserves and a toolkit to counter disorderly moves. He also flagged the need to reduce India’s current account deficit and improve the capital account. The RBI’s primary mandate remains inflation targeting; if inflation developments provide room, the bank will support growth. Malhotra said a normalisation of the West Asia situation could allow the rupee to appreciate.

Memorial Day on Monday, May 25, 2026, will see most major U.S. retailers and grocery chains open for business while some services and government operations pause for the federal holiday. Company spokespeople and multiple outlets report Target, Walmart, Trader Joe’s, Kroger, Home Depot, Lowe’s and many national pharmacy and fast‑food chains will operate on regular or slightly modified hours. Costco is widely reported to be closed nationwide for the day, a pattern the warehouse chain follows on several holidays; however, at least one international outlet published a conflicting account that Costco would remain open. Postal services and many federal offices will be closed, UPS retail locations may be limited and FedEx is operating modified hours. The New York Stock Exchange and Nasdaq are closed Monday, with trading to resume Tuesday, May 26. Shoppers are advised to check local store hours and official corporate websites or apps for confirmations and pharmacy counter availability, as some locations will run reduced hours even if the retail floor is open.