Ishiba coalition loses upper house majority

Japanese Prime Minister Shigeru Ishiba’s ruling coalition loses its majority in the upper house with rival parties advocating tax cuts and increased spending. U.S. Commerce Secretary Howard Lutnick says he believes an EU trade deal is feasible. However, reports suggest some EU leaders are considering harsher retaliatory moves should President Trump raise the baseline tariff rate. And in aviation news, Ryanair’s net profits almost double in the second quarter as Easter travel boosts Europe’s largest budget carrier.