Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain...
After an honourable defeat to Barcelona on away goals in the Champions League quarter-finals in 2013, Paris Saint-Germain’s Qatari president Nasser Al-Khelaifi stated the club’s objective was to win the competition “in the next five years”. That deadline expired with Tuesday’s limp defeat to holders Real Madrid in the last 16, leaving the French side as far away from being European champions as at any point since Qatar Sports Investments (QSI) bought the club in 2011. For all their lavish spending, PSG have still not made it past the quarter-finals of the competition this decade, and there have now been consecutive exits in the last 16, the 5-2 aggregate loss to Cristiano Ronaldo’s Real coming after a spectacular collapse saw them crash out in Barcelona a year ago. The strategy after that defeat was to commit to paying the two biggest transfer fees in football history last August to sign Neymar and Kylian Mbappe for a combined 402 million euros ($499 million), an attem...