ENGLISH TEXTS ances between the U. S. and Europe( especially in automotive sales), any constraint on global trade is seen as bad news for world GDP growth potential. The latter has in fact been revised downward by all major institutions and is now expected to hover around 2 to 2.5 %. While some American companies will struggle to bring their assembly operations back to U. S. soil – Apple and its iPhones being a prime example – one must not overlook the massive investments made by American tech firms in Artificial Intelligence( AI). The“ Magnificent Four” – Amazon, Microsoft, Google, and Meta – will spend $ 300 billion on AI in 2025 alone, enough to keep the America Inc. engine running. The construction of several new semiconductor production lines( TSMC) on American soil is clear evidence of this reshoring trend. In Europe, hopes for a rebound will once again be disappointed in 2025, as the European cycle is inherently tied to that of the United States. Despite high employment levels, improved credit conditions thanks to rate cuts initiated by the ECB, and contained inflation, household spending continues to move at a sluggish pace – more akin to the plodding gait of a Percheron, the legendary draft horse, than to the spirited sprint of an Andalusian purebred. France, caught in a dual political and fiscal bind, does little to foster any sense of momentum
in economic activity on the Old Continent. At best, the eurozone benefits by default from the choices of some international investors weary of the American president’ s sudden policy shifts. The silver lining for European consumers – and American drivers as the driving season kicks off – lies in the falling price of a barrel of oil($ 70). And when you don’ t have oil( or many ideas left), it’ s always better for your wallet when gas costs less to make those horses … roar under the hood!
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SALES
VICKI GIBBINS’ CHRONICLE
BACK TO THE ARTICLE �
OVERVIEW OF SALES ACROSS THE GLOBE
ARQANA BREEZE-UP 8 / 9 / 10 MAY The record-breaking breezeup sales season continued with the Arqana Breeze-Up Sales, where five lots sold for over € 1 million or more. Whilst the average and median achieved new heights(€ 200,000 and € 120,000 respectively), it was the overall turnover for the sale that provided headlines. Despite selling only four more lots than the 2024 renewal, turnover was a record-high € 27,444,500, up 27 %. With the sale held a week after last year’ s breeze-up graduate Ruling Court won the 2,000 Guineas( Gr. 1), it was apt to see bloodstock agent Anthony Stroud, working on behalf of Godolphin, purchase the sale’ s top lot. By Night Of Thunder and out of Date With Destiny, the sole offspring by George Washington, the colt represents a unique bloodline and fetched € 1.9 million. Stroud kept his comments simple and to the point, saying:“ He’ s a superb colt. He breezed very well on Thursday. Night Of Thunder is a very good stallion, with whom we won a Classic last weekend.”
GOFFS SPRING SALE 19 / 20 / 21 / 22 MAY It was a busy week for Goffs Doncaster, with the opening Spring Store session leading into two days of National Hunt Horses In Training / Point To Point, preceded by a new inspection day. The sale in fair style, with seventeen store lots making over £ 50,000 and contributing to an increased average of £ 26,239( up 3 %) but aggregate was notably down 20 % on the previous year. The same could not be said for the Horses In Training / Point To Point section of the sale, which saw considerable increases – especially on the second day. 191 lots were offered on day two of the sale, with the average increasing 47 % to £ 19,673 and the me-
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