By Zahra Ullah and Ana Archen, CNN

Moscow (CNN) — High-energy pop music blares out across the atrium of a glitzy shopping mall in a middle-class Moscow suburb. But what was meant as the soundtrack to the hustle and bustle of shoppers is instead playing to largely vacant and boarded-up glass-fronted units – a poignant sign of Russia’s economic malaise.

The sprawling Goodzone mall flung open its doors in 2014 amid much fanfare. It includes an eight-screen multiplex cinema that now sits deserted, its foyer lights switched off. Though still open seven days a week, the mall in southern Moscow appears to be slowly dying, with few open shops and even fewer customers.

Following its full-scale invasion of Ukraine, the exodus of Western companies and unprecedented Western sanctions, Russia’s economy defied expectations, pivoting to massive military spending and increased oil exports to China and India.

However, the economy is beginning to show signs of creeping strain, with GDP contracting 1.8% in the first two months of 2026. Russian President Vladimir Putin acknowledged the issue in a government meeting on economic affairs in mid-April.

“Statistics show that economic growth has, unfortunately, been slowing for two consecutive months,” Putin said, demanding officials explain “why the trajectory of macroeconomic indicators is currently falling short of expectations.”

The leader of Russia’s Communist Party, Gennady Zyuganov, later criticized what he described as a lack of competent responses to Putin’s questions at the government meeting, calling it “sad and disturbing.”

Speaking in Russia’s State Duma (parliament) last week, Zyuganov warned the country could face a Bolshevik-style revolution if the government fails to address the weakening economy.

While he stopped short of criticizing Putin, as is often the case with the choregraphed opposition permitted by the Kremlin, he did rebuke the government.

“We have repeatedly warned you: with such a course, the economy will inevitably fail,” Zyuganov said.

Deserted mall ‘semi-apocalyptic’

While there have been no signs of mass social unrest in Russia, and other malls including the giant Aviapark in northwest Moscow appear to be doing good business, several workers at Goodzone described to CNN with concern the increasingly minimal foot traffic there.

One of those was Ivan, a cashier at a branch of one of Russia’s largest retailers, who asked CNN not to use his surname or disclose his workplace. This is his second job, and he can’t afford to lose it in the current climate, he said.

“Well, in terms of the economic situation, does this tell you something about the situation in the country,” Ivan said, pointing to the screen of his cash register.

The monitor shows 13 transactions for the day so far – a paltry total of 3,417 rubles (about $45). It’s a Thursday afternoon in late April, and Ivan says the number of transactions in better times would be closer to 300.

“(Goodzone) looks semi-apocalyptic,” Ivan said. “The mall is so big, you could get lost and tired walking around it. It would seem it was built and designed for a huge flow of people, but I haven’t seen it.”

CNN has reached out to the mall’s administration office for comment. The website for the mall says parts of it are being refurbished, and that it is introducing new operators – neither of which CNN saw evidence of. The website is advertising retail spaces for rent at staggeringly low prices, from as little as 1 ruble (about $0.01) per square meter. Many of the empty

By Simone McCarthy, CNN

Beijing (CNN) — A sleek SUV offers mechanical foot massages, a luxury minivan has rotating seats to help passengers hop into its third row – and a surprising proportion of models offer in-car karaoke with professional-grade speakers. Others have headlights that can project movies onto a wall to make anywhere a drive-in cinema. Here, intelligent driving features are ubiquitous, even in affordable models.

To many consumers peering in from the outside, the options in China – on display in Beijing this week at the world’s largest auto show – seem like a dream. But to some automakers and politicians around the world, they’re an existential threat.

Chinese carmakers are cranking out their offerings at a large scale and a comparatively low price. And there’s another major sell: while oil and gas costs skyrocket due to the Iran war, the vast majority of these cars are electric or hybrid.

The contrast with the US has never been as stark: Washington last year rolled back support for EVs in favor of gas guzzlers, and it has effectively barred Chinese cars from entering the market, citing a need to protect national security and local industry.

With US President Donald Trump expected in China in mid-May for talks with leader Xi Jinping, the country’s EV makers are also eyeing another frontier, watching whether growing global demand for EVs will help them pry open the door to the US market.

Regardless, the intended message from the 70-football-field-sized showcase is clear: China is relentlessly moving forward with the technology it believes will win the 21st century.

And China’s top carmakers – and Beijing – are betting big that the rest of the world will choose their vision of an electric future, rather than one still tied to the gas pump.

Rising gas prices are “a wake-up call for the people who never touch EV,” BYD executive Stella Li told CNN on the show’s sidelines, where she discussed the world’s largest EV maker’s ambitious expansion strategy. “When you jump to the electric car, you never walk back to switch to the gas vehicle.”

Outward push

Winning customers overseas is now imperative for China’s major players.

By a wide margin, the country has the world’s largest EV market. More than half of new cars sold in China are electric or hybrid. In its megacities and beyond, traffic is increasingly falling silent, the dull whir of the electric motor replacing the purr of an internal combustion engine.

But its industry titans are also locked in a knock-down, drag-out fight for market share, with brutal price wars and competition in a crowded home market deflating profits and stymieing growth.

Outward expansion is already ramping up as major brands push to build out charging infrastructure and woo customers and partners abroad. China’s EV exports in the first quarter surged 78% year on year, according to official data.

But China’s automakers are also navigating a global landscape that’s wary of the competition.

An open letter from more than 70 American lawmakers to Trump last week warned the president against “any effort to lower barriers for Chinese automobiles or otherwise facilitate their entry

By Antonia Mortensen and Juan Pablo O’Connell

(CNN) — In the heart of Emilia‑Romagna, northern Italy, vast climate‑controlled warehouses hide one of the country’s most valuable assets. Towering shelves hold hundreds of thousands of wheels of Parmigiano Reggiano aging slowly, quietly and becoming more valuable with every passing month.

To outsiders, it looks like a cathedral of cheese. To Italy’s dairy producers, it is a lifeline.

Parmigiano Reggiano is one of the world’s most tightly regulated foods. It can only be produced in a small, designated area using three ingredients — milk, salt and rennet — and it must age for at least 12 months before it can be sold. Many wheels mature for 24, 36, or even 40 months.

That long wait creates a financial bottleneck. Farmers must be paid every 30 days. Staff, feed and energy costs accumulate daily. But revenue doesn’t arrive for a year or more. For more than a century, Credem Bank has stepped in to bridge that gap — accepting cheese as collateral.

Giancarlo Ravanetti, the boss of the bank’s cheese warehouse business, explains: “In Italy about 4 million wheels of Parmigiano Reggiano are made, and we keep 500,000… and allow customers to use the wheels as collateral to obtain financing.” The warehouse handles “about 2,300,000 wheels a year,” he adds. Inside these vaults, the value is staggering: “About 325 million euros ($382 million) worth of Parmigiano Reggiano.”

When a wheel of Parmigiano Reggiano arrives at the warehouse, it enters a tightly controlled system perfected over generations. Each wheel is scanned and logged into a digital system, a kind of passport that records its production date, dairy of origin and current status. Only then can it officially enter the vault.

The wheels are placed on long wooden shelves. Temperature, humidity and airflow are carefully controlled. Warehouse staff walk the aisles daily, checking wheels for cracks, swelling or moisture issues. Any irregularity is flagged.

Seal of quality

At 12 months, the Parmigiano Reggiano Consortium performs the traditional tapping test — striking each wheel with a hammer and listening for internal defects. Only wheels that produce a clean, uniform sound earn the fire‑branded seal. The warehouse handles millions of wheels a year, moving them in and out for dairies, processors, exporters and companies that buy wheels for grating or long aging.

Once wheels are registered and aging, they can be pledged as collateral. The warehouse becomes a secure vault guaranteeing the bank that the wheels exist, are in good condition and match the pledge register. Ravanetti notes that this system has operated for more than a century and the bank has never lost a single euro on these loans.

The Consortium oversees the entire ecosystem, which unites roughly 300 producers and more than 2,000 dairy farmers. Spokesperson Fabrizio Raimondi describes it as an organization representing “approximately 50,000 people” and a sector with “a turnover over 4 billion.” Its expert team enforces strict production rules, promotes the brand globally, fights counterfeits and certifies every wheel. “These sealers can assure the consumer that this is the real one and the quality is good,” Raimondi says.

The Parmigiano Reggiano supply chain is built on cooperatives, a structure that Paolo Ganzerli of Granterre says is both a strength and a vulnerability.
Granterre, one of Italy’s largest dairy groups, is technically a stock company but owned by cooperatives of milk and cheese producers. This means the company must support hundreds of small farmers who rely on stable milk payments to survive.

Ganzerli explains that dairies must pay farmers immediately, even though the cheese they produce won’t generate revenue for at least a year. “Without this system of leverage, the world of Parmigiano Reggiano cannot exist,” h

PISMO BEACH, Calif. (KEYT) Pismo Beach is ready towelcome the World Dog Surfing Championships Exhibition Tour this Saturday, May 2nd, from 10:00am to 2:00pm on the south side of the Pismo Beach Pier.

This premier dog surfing event will feature top canine surfers competing at the highest level, delivering a full afternoon of beachside fun the whole family can enjoy. Get ready for an evening of pro heats, followed by a final showcase highlighting the best of the best.

The World Dog Surfing Exhibition Tour features six of the world’s top dog surfing teams including: Iza, rippinrosiedog, Rusty, Carson, Rocket and Petey just to name a few.

There's a few options to take in the action Saturday in Pismo Beach according to Emma Rhoads who's in charge of Media Relations for Experience Pismo Beach.

"If you don't have dogs, then I suggest going to the pier to get an epic view of the competition from above, however, if you do have dogs, then definitely head down to beach for a front row seat. Pismo Beach is proud to be a dog friendly beach and that's what makes this such a great event," says Rhoads.

During the event, there will be a variety of activities, including dog adoptions, partner tents, and interactive experiences.

Don't miss the Surf Dog Village where you and your furry friends can connect with local organizations and learn more about the businesses and groups working to support dogs in the community.

If you’re heading to the shoreline for this paw-sitively action-packed day, here are a few things to keep in mind: admission is completely free, well-behaved dogs on leashes are welcome, and Pismo Beach offers plenty of public parking along the shoreline at the ends of Pomeroy Avenue and Addie Street.

The event runs from 10 a.m. to 2 p.m., leaving plenty of time before, after, or even the next morning to explore everything Pismo Beach has to offer.

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