U.S. President Donald Trump is scheduled to meet with Chinese President Xi Jinping in Beijing for a two-day summit aimed at stabilizing bilateral relations amidst significant geopolitical and economic tensions. The talks are expected to cover a broad spectrum of issues, including trade agreements, the war in Iran, Taiwan, nuclear arms control, and the development of artificial intelligence, as both leaders seek to address areas of conflict while exploring potential cooperation on economic and technological matters.

Key Points

• Economic Cooperation: The two nations are expected to announce forums for trade and investment, alongside Chinese commitments to purchase American agricultural products, Boeing aircraft, and energy resources.
• Trade War Status: Discussions will address the potential extension of a trade truce that currently facilitates the flow of Chinese rare earth minerals to the U.S., with U.S. officials expressing confidence in an eventual renewal.
• Geopolitical Tensions: President Trump intends to pressure President Xi regarding China’s economic and material support for Russia and its influence over Iran, urging Beijing to help resolve the ongoing conflict between Iran and the U.S.-Israel coalition.
• Strategic Disagreements: The summit will address persistent friction over Taiwan, with the U.S. reaffirming its support for the island despite China’s increased military presence in the region.
• AI and Nuclear Policy: The U.S. administration aims to establish formal communication channels regarding the risks of advanced artificial intelligence; however, China continues to show reluctance toward participating in nuclear arms control discussions.

China has officially confirmed that U.S. President Donald Trump will conduct a three-day state visit to Beijing, marking his first trip to the country since his 2017 term. This high-stakes summit with President Xi Jinping is intended to project stability between the world’s two largest economies, with discussions centered on trade, investment mechanisms, and industrial agreements, while observers closely monitor potential dialogue regarding the ongoing conflict in Iran and issues related to Taiwan.

The upcoming talks come at a pivotal moment as China continues to assert itself on the world stage, while the United States seeks to recalibrate its approach to Beijing. Experts believe this meeting could influence future diplomatic and economic policies for both nations. It also signals a desire to manage conflicts through direct dialogue rather than confrontation.

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Sticky deposit rates and limited headroom to raise lending rates would crimp margins this fiscal at Bank of Baroda chief executive officer Debadatta Chand tells Joel Rebello. The second-largest public sector bank by assets crossed ₹20,000 crore in annual net profit in FY26, and it plans to step up fee income to make up for weaker interest margins. The bank also plans to build a debt capital market business through its newly-launched primary dealership business this year, said Chand, who last month received another three-year tenure in the corner room. Edited excerpts:

Your net interest margin (NIM) has dropped year-on-year. What is the outlook on core profitability?

All banks have taken a cut on NIM year-on-year; so it is in line with industry. Rather, our drop is lower than many of the banks. Going forward, the deposit cost is going to be sticky. I am not looking at further moderation. To protect NIMs, the bank will need to look at the asset side. EBLR is not going to change because there is a long pause of the expectation, so not going to change. In the corporate loan book there are two components MCLR and non-MCLR linked. The only segment I am looking at a realignment possibly is a non-MCLR book in corporate loan, which is linked to t-bills and government securities because our rates linked with those would move up with the benchmarks. We closed last year at 2.89% but we are giving a guidance of 2.75% to 2.95% this year. Last fiscal, there was an element of interest on tax refund. Keeping that volatility in mind we are giving a lower guidance of 2.75% on the downside.

Will the pressure on margin continue in the medium term?

As we migrate to a mature market, I think the margin needs to be squeezed because banks will have to operate at a lower margin, while keeping the return on assets (RoA) more than 1%. We need to be aligning ourselves for a slightly lower margin. In a mature market, the borrower would demand fine pricing, whereas the depositor would expect a higher rate. We will be trying our best to protect the margin, but the mature market scenario would force us to operate slightly at a lower margin and upsizing our non-interest income and lowering our cost to income.

You have made an extra ₹1,500 crore floating provision. is it to do with the expected credit loss (ECL) framework?
With that ₹1,500 crore floating provision we have buffered the balance sheet. With this, our total floating provision is ₹2,500 crore. This provision can be used in extraordinary scenarios with the approval of the regulator. It is not tagged with ECL provision. On ECL provision, the bank is well prepared to capture any impact. We are still computing ECL impact but for the year ended March 2026, my credit cost was 0.46%. I am now giving a credit cost guidance of below 0.6% for the current fiscal. This increase is sufficient to take care of the ECL provision on the income. ECL has two impacts, one the capital adequacy and another on the income. This increase is sufficient to take care of the impact on the income side.Any new businesses you plan to start this year?

Given that our current NIM is elevated vis a vis the system, we have to increase our non-interest income. Reducing cost to income is a challenging task. But to increase non-interest income we can upsize our wealth and treasury business. The treasury is where we have a lot of scope to get more fee income. The precise reason to float the primary dealer (PD) business is for us to do DCM business which we are not doing currently. We want to replicate a model of global banks where fee out of treasury would be a significant part of non interest income. There are debt market products like STRIPS, a non-corporate bond market where we can get fees. The PD business started operation from April 1 2026. We have committed ₹2,000 crore capital into the PD business. We plan to upscale that business. BoB Capital Markets will focus entirely on the equity side. We expect to start the pension fund in six to nine months.

What are the plans on subsidiaries like BoB Cards and Nainital Bank?

On BoB Cards we want to strengthen and create scale in the company and become a significant player in the market. Their ranking is almost at number 10 and we want them to improve. We have no board mandate as of today. We are open to infuse more capital there. Nainital is also doing well. They have good profitability, asset quality and strengthened their board and governance structure.

State Bank of India shed more than $11 billion in market value over two sessions on narrowing margins and a disappointing fourth-quarter earnings miss that brokerages warned could signal a tougher profitability cycle ahead.

Shares of India’s largest lender by customers dropped 4.5% to a year-to-date low of 973.60 rupees on Monday, extending ‌Friday’s near-7% ⁠post-results fall.

The ⁠selloff brought the stock down more than 10% in two sessions, wiping out $11.3 billion.

NSE ​data showed the heaviest fresh call writing on SBI’s 1,000 strike on Monday, ​signalling that investors expect any near-term rebound in the stock’s price to likely be capped at that level.

About 95 million shares changed hands over ​the two sessions, almost five-fold the 30‑day ⁠average of 18.7 ‌million.

Analysts said the lender’s fourth-quarter earnings miss reinforced ​concerns that ​Indian banks are entering a tougher profitability cycle, with ⁠rising funding costs beginning to erode lending margins.
SBI on Friday reported a narrower net interest margin of 2.8% for the quarter, compared with 2.98% in the previous three-month period, and also missed analysts’ profit estimate.”NIM compression is becoming more visible as funding costs reprice faster,” JP Morgan said on Monday, adding that earnings momentum could moderate in the coming quarters.

“Core earnings were underwhelming, with ‌incremental margins tightening,” Bernstein said, cautioning that upside catalysts may be limited without a stabilisation in margins.

SBI’s asset quality ​remained a key ​positive, with bad ⁠loans and credit costs staying benign, brokerages said, but warned it may not fully offset pressure on net interest income from margin compression.

Nonetheless, analysts retained ​a constructive long‑term view, citing the bank’s strong balance sheet, scale and market leadership.

The two-session selloff erased SBI’s year-to-date gains, leaving the stock down 0.8% in 2026, though it still outperformed the benchmark Nifty 50’s 8.8% drop.

Former White House AI czar David Sacks predicted potential outcomes of President Donald Trump’s meeting with Chinese President Xi Jinping as the two leaders prepare to discuss artificial intelligence.

Sacks assessed the state of the intensifying AI arms race on “The Claman Countdown” Monday as China and the U.S. emerge as fierce competitors on the global stage.

“I do think that there are things that may be in our common interest, and it’s worthwhile to explore having those conversations,” he said.

“The fact is we have to still protect from against each other. So I think it’s going to be a little bit limited in terms of what we can achieve there.”

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Sacks’ comments follow the release of Anthropic’s Mythos, a model that has raised widespread worry over its capability to identify decades-old security vulnerabilities.

Sacks said the U.S. and China could potentially reach an agreement on new cyber standards during this week’s meeting, noting that neither country wants “rogue actors” to use AI models for dangerous purposes.

He also warned that the U.S. must take proactive defensive measures to ensure new AI models do not exploit existing vulnerabilities.

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“We need to take steps now to harden our systems and scan our code bases to find latent vulnerabilities and patch them,” the former ‘AI czar’ said.

Sacks also downplayed concerns about AI, arguing there is no need for strong federal regulation of the technology, while cautioning that China’s advancing cyber capabilities remain a serious concern.

“There’s been this debate about whether we needed an FDA for AI. That would be solving a problem I don’t think we have,” he told FOX Business.

“The real issue is not what the American labs do. It’s the fact that Chinese models and other models that other actors could train are gonna have advanced cyber capabilities within the next six months or so.”

Sacks cited previous success in AI discussions with China, including a late 2024 summit between former President Joe Biden and Jinping, where both countries agreed to keep AI away from nuclear weapons systems.

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The former ‘AI czar’ said that while the U.S. and China remain locked in a highly competitive race for AI dominance, dialogue about the technology is a step in the right direction.

“I think the point here is for the two sides to start talking, to establish an initial dialogue and just to see how the Chinese are thinking about this,” Sacks said.

Passengers aboard Disney Cruise Line’s Disney Adventure say their four-night Singapore sailing was canceled after boarding due to technical issues, leaving families waiting hours for answers before being sent to hotels late at night.

Guests had already embarked on the May 7 voyage when the ship’s captain reportedly told them there were technical issues and that they would “set sail soon,” according to a passenger who documented the situation on Reddit.

By around 2 p.m. local time the following day, the captain announced the sailing would be canceled entirely.

“It’s really disappointing especially if vacationing with kids,” the user wrote.

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The passenger said guests waited hours for official instructions after the announcement, with only a handful of crew members assisting guests.

They said they did not receive hotel details until 12:10 a.m. and did not expect to reach their hotel until well after 1:30 a.m.

A letter to guests, later obtained and published by Disney Cruise Line Blog, said the sailing could not proceed as planned and apologized for the disruption.

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“We are truly sorry to let you know that we are unable to proceed with your Disney Adventure experience from May 7-11, 2026 as planned,” the company wrote, adding that “your safety and comfort as our guests are always our highest priority.”

The cruise line said affected guests would receive a full refund, 50% off a future cruise and a complimentary hotel stay, along with coverage for potential flight change fees and up to $500 per stateroom for incidental expenses.

However, the passenger raised concerns about the compensation, noting that the 50% future cruise discount requires booking by July 31, 2026, and sailing by May 31, 2027.

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The user also questioned whether accommodations were consistent across guests, claiming that some passengers with back-to-back bookings received multiple complimentary nights while others were provided just one.

“We reached our hotel at around 2:00 a.m. and we have to check out at 12 noon… that isn’t even a full night,” the user wrote.

Additional complaints included a reported S$200 (about $150 USD) food and beverage credit, which the passenger said barely covered meals for one person — let alone a family of four.

The user said some travelers had flown in from countries including India, Australia and Canada specifically for the cruise, describing it as “one of the worst” experiences they’ve had with Disney.

“The Disney Adventure departed as scheduled on its next sailing after the mechanical issue was resolved,” a Disney spokesperson told FOX Business. “We completely understand this was an unfortunate situation for our guests and worked with them directly to support their travel needs, help make their trip home as smooth as possible and invite them back to a future sailing.”

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The Disney Adventure is part of Disney Cruise Line’s major expansion plans, with the company aiming to grow its fleet to 13 ships by 2031. The vessel, which is home ported in Singapore, marks Disney’s first permanent cruise deployment in Asia.

FOX Business previously reported that Disney Cruise Line has been aggressively expanding its global cruise footprint, with Disney Experiences Chairman Josh D’Amaro saying the company is focused on bringing Disney cruises “to new guests on new shores.”