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Human sized KFC drumstick jumps from 4,500 metres in the sky

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A gigantic piece of Kentucky Fried Chicken took to the skies, jumping from a four-thousand metre drop

The parachuting poultry flew above some of Melbourne’s most iconic landmarks including the MCG and Federation Square.

The human sized Chicken landed safely inside a ginormous Uber Eats bag after jumping from the troposphere to the earth’s crust in a stunning 200 kilometre an hour descent.

The adrenaline pumping stunt is part of the celebration of 500 KFC restaurants now visible on the Uber Eats platform in Australia.

“We know from thousands of searches on our app that the desire for KFC has been sky high for some time. Now that KFC has landed on Uber Eats we wanted to tell that story in an impactful, distinct and memorable way. It might not fly into your bag, but KFC’s favourites are now available to get in a few clicks on the Uber Eats app in every state and territory,” said General Manager Uber Eats, ANZ, Bec Nyst.

“It’s no secret that Aussies love having convenient ways to get their favourite food delivered, so we’re pretty excited that KFC has finally landed on Uber Eats,” said Sally Spriggs, CMO KFC Australia.

”We’re always up for a bit of fun, so what better way to make some noise about this new partnership than having a huge Kentucky Fried Chicken drumstick jump out of a plane and land into a giant Uber Eats bag? Just like us, I’m sure fans will have a bit of chuckle about this, and we’re thrilled that more people will be able to get KFC delivered fresh and fast with just a few taps on the Uber Eats app.”

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Money

Dow rises 400 points as trade tensions ease

Dow climbs 400 points as trade tensions ease, Trump signals no plan to fire Fed Chairman Powell.

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Dow climbs 400 points as trade tensions ease, Trump signals no plan to fire Fed Chairman Powell.

In Short

Stocks rose significantly on Wednesday, with the Dow up 461 points amid optimism about reduced U.S.-China tariffs.

Investors reacted positively to President Trump’s comments on trade, improving overall market sentiment after a four-day losing streak.

Stocks saw significant movement on Wednesday, with the Dow Jones Industrial Average rising by 461 points, or 1.2%.

The S&P 500 and Nasdaq Composite also experienced gains of 1.7% and 2.6%, respectively.

Initially, the Dow surged by 1,100 points due to optimism surrounding U.S.-China trade relations.

President Donald Trump indicated a willingness to adopt a less aggressive trade strategy, suggesting that the current 145% tariff on imports from China would be significantly reduced but not eliminated entirely.

Trade agreement

Treasury Secretary Scott Bessent commented on the potential for a beneficial trade agreement between the two nations, expressing a desire for joint efforts to address trade imbalances.

Market reactions reflected relief at the prospect of eased tensions, with Keith Buchanan from Globalt Investments noting that investors were hopeful the worst might be over, though uncertainties remain.

Reports indicated that the U.S. administration was contemplating reducing tariffs on China to between 50% and 65%, contingent upon mutual concessions from both countries.

Stocks affected by trade dynamics, particularly tech companies like Apple and Nvidia, showed marked increases, with Tesla’s shares rising 5% partly attributed to these easing tariff concerns.

Investor sentiment improved further when Trump reaffirmed that he has no intention of dismissing Federal Reserve Chairman Jerome Powell, a shift from his previous criticism of Powell’s leadership.

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Money

Credit-card firms prepare for economic downturn risks

Credit card companies prepare for economic downturn; rising delinquencies prompt tighter lending despite continued consumer spending.

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Credit card companies prepare for economic downturn; rising delinquencies prompt tighter lending despite continued consumer spending.

In Short

US credit card companies are preparing for a possible economic downturn by tightening lending and increasing reserves, even as consumer spending remains high.

While the wealthy continue to spend, access to credit is diminishing for lower-income individuals, and caution is growing among banks.

Credit card companies in the US are preparing for a potential economic downturn despite current consumer spending levels. Businesses are increasing reserves and tightening lending as delinquencies rise to pre-pandemic levels.

JPMorgan Chase and Citigroup have augmented their rainy day funds to mitigate expected losses. Retail card issuer Synchrony is applying stricter lending criteria, while U.S. Bancorp is targeting wealthier customers to reduce risk.

Although large lenders are still reporting profits, the effects of Trump’s trade war have yet to reflect in financial results. Recent data shows that Americans are spending and borrowing at a faster pace compared to last year.

Travel and entertainment

However, there are warning signs as consumers begin to cut back on nonessential expenditures such as travel and entertainment. The trend of cardholders making only minimum payments is above pre-pandemic levels.

Despite consumers showing confidence in spending in early April, banks remain cautious. They are redirecting their marketing strategies towards affluent households, recognising that the wealthiest individuals account for a significant proportion of total spending.

Conversely, access to credit is tightening for lower-income individuals, with Synchrony reporting declines in active accounts and purchase volumes. American Express, meanwhile, continues to perform well among high-income clients, with strong consumer spending growth reported.

Unemployment rates among white-collar workers remain low, offering some stability in credit card portfolios for certain issuers.

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U.S. shares rebound amid tariff negotiation optimism

U.S. shares rebound over 2.5% amid tariff optimism, despite economic warnings and mixed global market performance.

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U.S. shares rebound over 2.5% amid tariff optimism, despite economic warnings and mixed global market performance.

In Short

U.S. shares rebounded significantly due to optimism over tariff negotiations, with major indexes rising over 2.5%. However, companies continue to face challenges from tariffs and uncertainty in the market, leading to mixed results overseas.

U.S. shares saw a significant rebound on Tuesday, with major indexes increasing by over 2.5%.

This recovery was influenced by optimism regarding tariff negotiations, as noted by Treasury Secretary Scott Bessent, who expressed confidence in a potential de-escalation of the trade war with China.

Despite this positive sentiment, companies are still grappling with the effects of the Trump administration’s tariffs.

Defense contractor RTX announced an anticipated $850 million financial impact, and Kimberly-Clark cited a “global geopolitical landscape” for a lowered profit outlook.

Economic forecasts

The International Monetary Fund has revised its economic forecasts for the U.S. and globally, highlighting tariffs as a factor in slower growth.

Goldman Sachs CEO David Solomon indicated that high levels of uncertainty are hindering corporate decisions and impacting asset prices, and the Institute of International Finance warned of a probable U.S. recession later this year.

Gold prices have fluctuated, retreating after reaching a record high on Tuesday, reinforcing its status in uncertain markets.

Tesla’s quarterly earnings did not meet estimates, but the company’s share price remained stable.

Concerns about President Trump’s trade policies and his remarks regarding Federal Reserve Chair Jerome Powell contributed to market volatility earlier in the week.

In trading results, the Dow Jones increased by 1,017 points or 2.7%, while the Nasdaq and S&P 500 both rose by 2.7% and 2.5%, respectively.

Treasury yields decreased slightly, and Bitcoin’s value climbed past $91,000.

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