By Iain Withers, Elisa Martinuzzi and Lefteris Papadimas LONDON, Aug 30 (Reuters) – Canadian Prime Minister Mark Carney has thrown his weight behind a new global defence bank intended to help allies rearm, but other major economies have yet to commit just weeks before prospective members are due to
NEW YORK (AP) — As the U.S. and Israel relentlessly bombed Iran in the opening days of war, the most dramatic predictions of the conflict’s toll were unsparing: surging oil prices, worldwide recession and economic catastrophe. But six months into the conflict, the direst predictions haven’t come tru
August can be a dreary month for Hollywood glamour, but the Venice Film Festival is on the horizon to kick off the busy fall film festival season in style. There will be plenty of stars gracing the red carpets when the 83rd edition of the festival kicks off Wednesday on the Lido: Noel and Liam Galla
By Balazs Koranyi, Howard Schneider and Ann Saphir JACKSON HOLE, Wyoming, Aug 30 (Reuters) – Europe’s central bankers are leaving an annual getaway with their U.S. counterparts far from reassured that long-standing norms in global cooperation remain intact and worried that more turmoil is ahead for
(AP) – President Donald Trump says the United States has secured what he calls “the biggest oil deal in the world”—a historic agreement with Venezuela that could reshape America’s energy strategy, strengthen ties across the Western Hemisphere, and deliver a major victory for the administration’s Ame
CARACAS, Aug 29 (Reuters) – Venezuelan interim President Delcy Rodriguez said on Saturday that an energy agreement with the U.S. would remain in force for 25 years, target an increase in crude output to 1.5 million barrels per day (bpd) and preserve the country’s sovereignty over its natural resourc
PHOENIX (AP) — A social media influencer known for posting viral videos of pranks has pleaded guilty to criminal impersonation in Arizona for posing as an employee of businesses in a Phoenix suburb and orchestrating brief but chaotic takeover attempts. The outcome was welcomed by observers who said
Aug 29 (Reuters) – The U.S. government plans to take a 35% passive stake in Venezuelan businessman Alejandro Betancourt’s North American Blue Energy Partners, the Wall Street Journal reported on Saturday, citing people involved in negotiating the deal. The U.S. also plans to secure preferential righ
By Allison Lampert Aug 29 (Reuters) – General Motors plans to assemble a heavy-duty pickup at an Ontario plant as part of a tentative deal with a key union that would pump C$1.1 billion ($791.31 million) into Canada’s auto sector as it reels from U.S. tariffs, a union bargaining report said on Satur
WASHINGTON (AP) — Besides a social media post from President Donald Trump, the White House has said little about what he is calling “THE BIGGEST OIL DEAL IN WORLD HISTORY” in Venezuela. Trump said the agreement announced Friday night would give the United States a stake in Venezuela’s vast oil reser
Aug 29 (Reuters) – U.S. Treasury Secretary Scott Bessent said disorderly moves in the yen could trigger “forced unwinds” of positions that risk destabilizing global markets and ultimately raising borrowing costs for U.S. households and businesses. Bessent made the comments in a letter dated August 2
WASHINGTON (AP) — In firing up a trade war with Canada, President Donald Trump turned to a 96-year-old statute so obscure that many trade lawyers didn’t even know it was still on the books. A week ago, Trump invoked Section 338 of the Tariff Act of 1930 to slap a 50% tax on $20 billion worth of Cana
BERLIN, Aug 29 (Reuters) – One of the main players in a struggle to agree a restructuring plan for Volkswagen AG, Lower Saxony state Premier Olaf Lies, said there was heavy pressure on all sides to reach an agreement in the next few days. The supervisory board of Europe’s largest automaker is due to
BOISE, Idaho (AP) — When kitchen burnout hits, figuring out what to make for dinner every day can feel like an impossible task. Eating out or relying on convenience foods are increasingly difficult solutions for many American families, who are facing the biggest jump in grocery prices in a half cent
By Anusha Shah and Shubham Kalia Aug 28 (Reuters) – OpenAI said on Friday that it plans to stop providing AI models to Cursor, the coding-tool company now owned by Elon Musk’s SpaceX, marking a further escalation in the bitter rivalry between OpenAI CEO Sam Altman and Musk. Musk and Altman have been
Two air traffic controllers could be fired for leaving the tower at New York’s LaGuardia Airport about an hour early on the night that an Air Canada jet smashed into a fire truck crossing the runway, killing both pilots, according to a government official familiar with the investigation. The officia
By Michael S. Derby and Howard Schneider JACKSON HOLE, Wyoming, Aug 28 (Reuters) – Federal Reserve Chairman Kevin Warsh’s disdain for signaling anything about the monetary policy outlook appeared to have tempered a bit on Friday in the face of a bond market clamoring for his thoughts on high inflati
By Lewis Krauskopf, Saqib Iqbal Ahmed and Laura Matthews NEW YORK, Aug 28 (Reuters) – Investors were heartened on Friday by new Federal Reserve Chair Kevin Warsh’s stated resolve to tame high inflation, but many on Wall Street remained unclear about how the U.S. central bank will react to economic c
By Kylie Madry Aug 28 (Reuters) – Argentina’s booming beef exports to the United States could face a new test after Washington moved to widen tariff-free access for suppliers, potentially increasing competition from neighboring cattle powerhouse Brazil, according to a report on Friday. Argentina’s b
By Dan Catchpole SEATTLE, Aug 28 (Reuters) – Negotiators from Boeing and its largest white-collar union plan to meet Monday to resume contract discussions, a spokesman for the Society of Professional Engineering Employees Association (SPEEA) said. SPEEA’s roughly 17,000 members overwhelmingly reject
By Markus Wacket BERLIN, Aug 28 (Reuters) – U.S. defence company Covenant plans to begin producing intermediate-range missiles near Leipzig from 2027, sources told Reuters on Friday, as Germany searches for affordable cruise missiles that can be deployed in large numbers. The missiles would have a r
WASHINGTON (AP) — The Trump administration is taking steps to limit an Egyptian bank’s operations in the United Arab Emirates, accusing the financial institution of serving as an economic lifeline to Tehran’s leadership as the U.S. war against Iran reaches the six-month mark. Under a new rule propos
JACKSON HOLE, Wyoming, Aug 28 (Reuters) – Stablecoins do not credibly function as a means of payment at scale and tokenized deposits offer a more compelling case to harness the benefits of this new technology, said the chief of the Bank for International Settlements, a central bank umbrella group. S
By Suzanne McGee Aug 28 (Reuters) – Mark Murrell, founder of Get Maine Lobster of Portland, Maine, has an irritating business problem that he has been struggling to solve: offering discounts is costly and, well, “it feels so boring.” For International Lobster Day on September 25, he wanted something
By Natalia A. Ramos Miranda, Natalia Siniawski and Kylie Madry SANTIAGO, Aug 28 (Reuters) – Chilean state miner Codelco on Friday reported sharply stronger first-half earnings as higher copper prices outweighed weaker production and higher costs, while new Chief Executive Jorge Gomez said the compan
SANTIAGO, Aug 28 (Reuters) – Chile, Argentina, Bolivia and Peru signed a joint declaration on Friday to deepen cooperation on strategic minerals, aiming to boost development, coordination and investment as the four South American producers seek to position the region as a reliable global supplier fo
NEW YORK, Aug 28 (Reuters) – The Federal Reserve will “have work to do” if policymakers are not confident that underlying inflation is returning to its 2% target, Chair Kevin Warsh said on Friday in remarks that marked the closest he has come to acknowledging interest rate hikes may be needed to eas
An inspection contractor found a chemical tank at a Washington state paper mill “not fit for continued service” 10 months before it failed in May, killing 11 in one of the deadliest U.S. workplace disasters in recent decades, according to a federal report released Friday. The U.S. Chemical Safety Bo
Aug 28 (Reuters) – Walmart has settled a U.S. government lawsuit accusing the retailer of fueling a nationwide opioid epidemic by unlawfully dispensing prescriptions from its pharmacies, the Department of Justice said on Friday. Terms were not immediately available. “The Department is pleased to hav
Aug 28 (Reuters) – Institutional investors are increasing allocations to private credit in Asia. Granite Asia raised more than $500 million for a pan-Asian strategy and Partners Group secured a $1 billion mandate as managers expand in a region that remains a small part of the global market. Granite
