Latest News
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Source: Canada will remove many of the retaliatory duties on US goods
Sources familiar with the situation say that Canada will announce Friday it is removing retaliatory duties on U.S. products as a gesture of goodwill to restart stagnated trade talks. Source who asked to remain anonymous due to the sensitive nature of the situation said that Canadian tariffs will continue for the time being on U.S. steel, aluminum and autos. The Prime Minister Mark Carney will hold a press briefing at 16:00 GMT (12:00 Eastern Time) on Friday. News helped extend the Canadian dollar's gains. By 11:05 am, it was up by 0.5% to C$1.3837 per U.S. Dollar or 72.27 U.S. Cents. Canada and the United States have been in talks for several months about a new relationship on economics and security, but they are still far apart. Carney On Thursday, the U.S. president Donald Trump spoke to him for the first since June. His office described it as a productive discussion. Carney's Office did not respond to an inquiry for comment. Reporting by David Ljunggren, Editing by Chizu nomiyama
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Swiss bank Safra Sarasin fined 3 million francs for 'Car Washing' probe
The Swiss Attorney General has fined Swiss bank J. Safra Sarasin SA $4.3 million in a corruption and money-laundering case that lasted for years, involving Brazilian state oil company Petrobras. The highest Swiss prosecutor's office issued a statement in which it said that the bank settled with Petrobras - a claimant - for 16 million Swiss francs. It added that there was no need to pay any further compensation. Safra stated that the "ordinance" of the prosecutors does not represent an admission of guilt, or an acceptance of criminal or civil liability by the bank or its representatives. The statement stated that a former Safra Sarasin worker was sentenced to six months of custody with a suspension for money laundering crimes committed between November 2011, and July 2014, while working for another Swiss Bank, totaling $29.2 millions. It added that the money laundering against which Safra failed to take action around that time totalled $71 million. The statement said that the investigation covered several accounts at Safra, which were used to pay bribes to senior executives of Petrobras in order to secure contracts for 10 companies from the oil and construction sector. In 2019, the prosecutors began their investigation. The prosecution of the "Operation Car Wash" scheme has led to the arrest and imprisonment of the former Brazilian president Luiz inacio Lula da So, among other people. In Brazil, more than 130 businessmen and politicians have been found guilty. The prosecutor added that the fine is based on the corrective actions that the bank took since and that all parties have stated that they won't appeal the penalty.
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Scientist warns that hurricane risk to Gulf Coast is increasing 20 years after Katrina
A new study warns that the Gulf Coast of America is becoming increasingly vulnerable to hurricanes. This comes 20 years after Katrina destroyed New Orleans and hundreds of kilometers of coastline. Marc Bove is a German Reinsurer Munich Re meteorologist who warned that with time, the likelihood of major hurricanes making landfall in the area will increase and the effectiveness post-Katrina of flood defense systems would diminish. Katrina, the worst hurricane to ever hit the United States, made its debut in August 2005. It began in Florida, then intensified when it reached the Gulf of Mexico. The storm caused nearly 1,400 fatalities and a total of $205 billion, inflation-adjusted, in damage. "The hurricane risk is increasing, and it's not just in the Gulf area." Bove told. Bove stated that today's Katrina would cost more, and not just due to inflation. The flood protections in New Orleans will gradually erode due to rising sea levels and sinking ground levels. (Reporting and writing by Alexander Huebner, editing by Rachel More).
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Gold falls with Fed Chair Powell's Speech on Radar
Gold prices fell on Friday, as the U.S. Dollar strengthened. Investors were also awaiting Federal Reserve Chair Jerome Powell to speak at the Jackson Hole Symposium for clues about the central bank's policy. Spot gold fell 0.5% to $3,322.43 an ounce at 8:43 am EDT (1243 GMT) while U.S. Gold Futures fell 0.5% to $3,364.20. Investors backed off rate-cut bets in anticipation of Powell's address at 10:00 a.m. ET (1400 GMT). Powell's speech at the annual Jackson Hole Economic Conference comes amid unprecedented pressure from President Donald Trump on the central banks. However, mixed economic data could pull Powell towards a middle-ground that leaves many major questions unresolved. David Meger is director of metals and futures trading at High Ridge Futures. Any signals about possible rate cuts this year may have a significant impact on gold prices. Even subtle hints will have an impact. "I believe we will see (Powell), take a more cautious stance, considering that two important pieces of economic information, the PCE report and the jobs report, still need to be submitted before the September meeting." CME's FedWatch showed that traders now see a 71.5% probability of a rate cut of 25 basis points in September. This is down from 85.4% one week ago. Gold is usually more profitable in low-interest rate environments, since it offers no yield and looks more attractive compared to other assets that pay interest. In other parts of Asia, gold demand was subdued as price volatility held buyers back. However, jewellers have resumed their purchases in India ahead of the festival season. Silver spot fell 1% to $37.78 an ounce. Platinum fell 1.1% to 1,338.25 and palladium dropped 0.5% to 1115.77. Ashitha Shivaprasad, Bengaluru (Reporting and Editing by Jan Harvey).
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Aldebaran, a Canadian company, plans to invest $1.5 billion in Argentina's copper project
Javier Robeto, the country manager of Aldebaran Resources Canada, said that at least $1.5 billion will be needed to develop the Altar copper project located in northern Argentina. Robeto stated that the company will include this figure in its preliminary assessment of September. This will show Altar has about 32 billion pounds copper resources and approximately 6.7 million ounces gold resources. Aldebaran does not know if it will be able to spend the money in time to qualify under RIGI (the government's incentive program), which provides long-term tax breaks as well as access to international dispute tribunals for investments above $200 million. The scheme will continue to accept applications until July 2026. There is a possibility of an additional year. It's not sure we'll make the cut. What happens if RIGI is stopped? Robeto explained that the tax burden would automatically return to 54%. RIGI has approved only two lithium mining projects so far, both of which were implemented in October by President Javier Milei. Glencore and McEwen Mining, among others who are working on copper projects, have also applied for the program. Robeto has not provided a timeline for the construction and production of Altar. The estimated lifespan is 20-25 years. The economic assessment includes two scenarios of copper production in either cathode or concentrate form. Robeto explained that the idea was to do a trade-off, examining both pros and cons. (Reporting and Writing by Lucila SIGAL, Editing by Jan Harvey).
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Rainforest to retail - Indonesian women protecting nature through work
Women use flowers and plants for ecoprinting Sustainable livelihoods protect at-risk rainforest Families can get help with food and school fees by receiving income By Leo Galuh A group of women who work in a conservation park located in Citalahab Sentral - a small village inside Gunung Halimun-Salak National Park - aims to show that nature protection and earning a living can be compatible. Ambu Halimun (which means "Mothers Of Halimun" is Sundanese) gathers foliage rich in natural colours and tannins. Ecoprinting is a technique that uses the flowers and leaves to transfer pigments onto the fabric. Ambu Halimun sells the skirts, scarves, and tote bag made from the intricately-printed fabric in international markets. The women have carved out a livelihood that is sustainable from the rainforest, without having to cut down trees or hunt wildlife. The group is still a small force, but it is growing. It is aiming to become a powerful enough force to make a difference in protecting Indonesia's natural environment. According to United Nations statistics, Indonesia is a biodiversity hotspot. It has a large share of the global flora, fauna and flowering plants, including 17% of bird species. Orangutans and Javan gibbons, Sumatran Tigers and Sumatran tigers are just a few of the critically endangered species that live in its rainforests. Deforestation caused by mining, agriculture and infrastructure is a serious threat to biodiversity. Global Forest Watch reports that between 2002 and 2024 the country lost 10.7 millions hectares (26,4 million acres) in humid primary forest. The human population is growing but the land is limited. They will now be the ones to lead the conservation effort because they have the knowledge and skills to do so," says Rahayu Oktaviani. She is the co-founder of the Javan Gibbon Conservation group, Konservasi Ekosistem Alam Nusantara. JAVAN GIBBONS Citalahab Sentral, with fewer than 300 inhabitants, relies on small-scale farming and tea farming. Tourism through homestays, forest treks, and other activities is also available but it provides inconsistent income. The KIARA group started offering training to residents in ecoprinting and sewing, natural fertilizer production, English, and public speaking after the pandemic devastated local tourism. Tourism earnings are still far below the pre-pandemic level, despite a slow return of guests since 2022. Yuliana is a mother of 4 and a member of Ambu. She said that the income she received from her husband's homestay was not enough to cover daily expenses. She now prints fabrics with motifs of the flora. Yuliana (who goes by one name) said, "I had no idea that leaves would produce natural colors to make ecoprint." KIARA, together with the women, has identified at least 24 rainforest plants species that contain tannins - natural compounds which bind colors to fabrics and prolong their life. Members of Ambu Halimun sell their products through social media, as well as to tourists. They accept orders via Instagram, and prices range from 250,000 Rupiah ($15) up to 700,000. The group's ecoprint signature is a Javan Gibbon motif. Sharing stories about the gibbon habitat and the threats that it faces due to deforestation, hunting and other factors helps raise awareness of conservation in the local community. The gibbon, a small ape that has silver-grey hair and a black facial pattern, is in danger. According to the International Union for Conservation of Nature (IUCN), there are only 4,000-4500 gibbons left in Indonesia. FOOD AND SCHOOL FEE Ambu Halimun's Wulan says her ecoprint earnings have made a real difference. She said that the majority of her family's expenditure is on food and school fees for her children. If he works for 20 days, her husband, who is a tea picker earns between 800,000.00 ($49) to 1,140.000 ($70). Many families borrow money in order to survive, and end up in debt. Ecoprint pays me 2 million Rupiah (122 dollars) every quarter. "It's enabled me to save," Wulan said as she removed the boiled marigold flower from the fabric. KIARA plans to expand its ecoprinting efforts, but its artisanal character means that its size will be restricted. Harumi Supit is vice president of Amartha Financial's public relations department. Amartha Financial provides services to more than 3.3 million women owned businesses in rural Indonesia. She said that to reach and sell in bigger markets, they require resources, transport and channels of distribution as well as careful planing. She said that maintaining quality standards is a challenge when you want to reach a wider audience. Ambu Halimun sold 41 pieces in 2020, and 237 the previous year. By mid-2025 it had reached 130 sales. Oktaviani said that KIARA’s role is to expand the group, encourage residents – especially women – to adapt to the post-pandemic changes in the economy and to find solutions within the environment. She said that they have an in-depth knowledge of the native plants. She said that the leaves used in ecoprint were often the same ones used traditionally for herbal remedies or as raw food. It's rooted into traditional knowledge which is slowly disappearing. She said that the project is not only helping to keep the forest intact but also empowers women, who "used to be tucked in the kitchen."
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Stocks on hold as traders wait for Powell's speech
The stock market was largely flat on Friday, as traders awaited the key speech by Federal Reserve Chairman Jerome Powell this weekend at the annual Jackson Hole Symposium that could shed some light on future monetary policy. Powell's previous speeches at this event have often moved the markets. This year's remarks will be closely scrutinized as his position is under heavy scrutiny from U.S. president Donald Trump. There are concerns that the Fed's autonomy could be threatened. Investors have reduced their bets that the Fed will cut rates at its September meeting due to a surge in U.S. Producer prices. This is down from 85% a week earlier. The Jackson Hole event also featured other Fed speakers who were lukewarm about the idea of a cut in September, despite recent signs that the U.S. labor market is weakening. Nabil Milali said that a cautious tone from Powell regarding the prospects of a September rate cut, deferring to future jobs and inflation data, could be enough to reduce market pricing down to a 50/50 call. Milali said that Powell could also decide to defend the Fed’s independence. He said that he believed the unofficial topic of this meeting was central banks' autonomy. MSCI's broadest global stock index was essentially flat for the day after European stocks rose in the morning before the speech. Wall Street futures are up between 0.1-0.2%. China's CSI 300 Index rose 2.1% after DeepSeek upgraded its flagship V3 AI Model and reported that Nvidia asked Foxconn suspend work on the H20 AI Chip, lending support for Chinese rivals. The dollar index (which measures the greenback versus six peers) edged up 0.1%, while the euro fell 0.1% to $1.15985, after an official revision showed that Germany's second-quarter economy contracted by 0.3%. Data from Japan showed that core consumer prices fell for the second consecutive month in July, but they remained above the central banks' 2% target. This has kept alive expectations of a rate increase in the near future. This did not help the yen much, as it was on track for a 1% drop for the week. BOJ Governor Kazuo Ueda is also scheduled to speak in Jackson Hole, Wyoming this weekend. Brent crude oil prices fell, Brent crude trading at $67.5 a barrel last, down 0.2% from Thursday's gains as Russia and Ukraine blamed one another for the stalled peace processes. Gold spot fell 0.2% to $3,330.9 an ounce.
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Copper prices rise on strong demand in advance of Powell's speech
The copper price rose for the third time in a row as China, the world's largest metals consumer, remained strong and investors hoped that a speech from U.S. Central Bank chief John Williams would indicate interest rate reductions. The benchmark three-month copper price on the London Metal Exchange rose 0.2% to $9,745 per metric ton. This is down from a high of $10,020.50 reached on July 2. It was its highest in more than three months. The Chinese demand for the metal remains healthy, according to Nitesh Sha, a commodity strategist with WisdomTree. Last month, U.S. president Donald Trump imposed tariffs of 50% on copper products. However, he excluded ores, concentrates, and cathodes. The Yangshan Copper Premium is a premium in China Since August 11,, which represents the demand for imported copper into China, is up 13% at $51 per ton. Investors await the speech of U.S. Federal Reserve chair Jerome Powell at the annual Jackson Hole Conference in Wyoming, due to start at 1400 GMT. Shah said that if there is any indication of a dovish tilt, it could be a very positive for copper prices because that would keep demand up. The dollar index was firmer on Friday, after some Fed officials were hesitant to cut rates next month. The dollar is stronger, and therefore the prices of commodities in U.S. dollars are higher for foreign buyers. LME aluminum also increased, adding 0.15%, to $2,589 per ton. Analysts at Guosen Futures on Friday said that the anticipation of a seasonal increase in demand next month could have helped to boost aluminium prices. Other metals include LME Zinc, which rose 0.8% to $2.787.50 per ton. Lead gained 0.6% at $1.981, Tin increased 0.1% at $33,465, while Nickel fell 0.1% at $14,920. (Reporting and editing by Jan Harvey; Additional reporting in Beijing by Amy Lv; Reporting by Eric Onstad)
GRAPHIC-Bear attacks are increasing in Japan. Aging hunters are on the front line.
A gunshot rang out on a recent morning in a meadow in northern Japan. The brown bear plunged in the cage, enjoyed by a handful of city authorities and hunters.
The bear had been wandering around a close-by home and consuming its way through surrounding cornfields, so officials and hunters in Sunagawa city had actually set a trap with a deer carcass to draw the starved animal.
For me, it's constantly a bit deflating when a bear gets caught, Haruo Ikegami, 75, who heads the local hunters' association, informed Reuters hours in advance.
Japan is coming to grips with a growing bear issue. A dwindling band of aging hunters is on the cutting edge.
A record 219 people were victims of bear attacks, 6 of them deadly, in the 12 months through March 2024, while more than 9,000 black and brown bears were trapped and chosen over that duration, according to Japan's environment ministry ( To see the full story, go to )
Both types' habitats have been broadening; the ministry. quotes that the variety of brown bears in Hokkaido, Japan's. northern island, more than doubled to about 11,700 in the 3. years through 2020. (It does not keep quotes on black bears,. most of which live on the main island of Honshu, though a widely. cited 2023 analysis by Japan's Yomiuri Shimbun paper. estimated their numbers at roughly 44,000, a threefold increase. considering that 2012.). Restrictions on searching practices and higher emphasis on. preservation added to a rise in bear sightings over. recent decades, according to Japan's Forest Research and. Management Organisation. With Japan's rural areas experiencing. fast demographic decline, bears are venturing closer to towns. and towns and into deserted farmland, an environment. ministry specialist panel said in February. But bear know-how among local governments is spotty, and. Japan's reliance on leisure hunters to secure settlements. looks unsustainable as its population ages, according to Reuters. interviews with nearly two lots individuals, including professionals,. hunters, officials and locals.
Numerous called for changes to the way Japan handles human-bear. conflict to address safety concerns while ensuring a future for. the bears.
In Hokkaido cities and towns like Sunagawa, Naie, Iwamizawa. and Takikawa, which Reuters checked out in October, some residents. wonder what will take place when hunters can no longer do the job.
Toru Yoshino, a 66-year-old chicken farmer in Sunagawa, stated. he was terrified by a bear that would roam into his farm a. couple of years earlier. As local authorities weighed how to react, they. ultimately counted on the hunters' association, the Sunagawa. Ryoyukai, to neutralise the hazard, he stated.
Sunagawa's local government told Reuters that efforts to. capture the bear were complicated by its proximity to homes and. considerations about what to do as soon as the animal was caught.
Although some hunters stalk bears as a hobby, Ikegami. reckons not many are delighted about culling caught bears for. local governments.
I don't desire individuals to think of hunting as something. fashionable. What we do is difficult. It's a huge concern to take. a life, he said.
The burden is both mental and monetary. The hunter that shot. the bear in Sunagawa would get about 8,000 yen (about $50),. possibly enough to cover fuel and costs however little else,. Ikegami said.
Hunters also run the risk of clashing with authorities. Ikegami's weapons. were taken by Hokkaido authorities in 2019 after they considered. his attempt to shoot a bear near a house was ill-judged. He is. fighting in court to have the weapons returned. The Hokkaido. security officials associated with the matter decreased to attend to. Reuters concerns about the case.
In response to increased bear attacks, Japanese government. authorities this year proposed relaxing guidelines around gun use to. make it much easier for hunters to shoot bears in urban locations.
City governments of Sunagawa, Takikawa and Iwamizawa told. Reuters that local and nationwide authorities could go even more. to deal with the issue. This might include promoting the. recruitment of hunters and improving their conditions, amongst. other ideas.
Japan's environment ministry stated it subsidises efforts to. train regional authorities and carry out bear drills in the areas, but. added that regional distinctions in human-bear conflicts called. for tailor-made approaches. The Hokkaido government's wildlife. bureau stated it ran numerous efforts to incentivise and. recruit hunters, consisting of promotional events and training. people in how to manage brown bears.
Ecological group WWF stated in an email that to preserve. Japan's bear population, authorities should act. including developing human-wildlife buffer zones and formulating. a nationwide defense and management plan. It declined to. comment specifically on the culling of bears in Japan.
While its numbers have been growing in Japan, the Asiatic. black bear is noted as vulnerable on the IUCN's red list of. threatened species globally. The brown bear is noted as least. concern.
AGING
Bear hunting was financially rewarding till the 1980s, and conceal and. bile were traded for high costs. However with growing ecological. awareness and modifications to regulations and customer tastes, the. practice has fallen out of favour.
Japan provided some 218,500 searching licences in the 2020. , less than half of the 517,800 it released in 1975,. according to official information. While about 98% of those provided in. 1975 were for shooting, that figure dropped to 42% in 2020, the. latest data. The remaining licences are for trapping. About. 60% of licence holders were aged over 60, according to 2020. information.
Searching is pricey, unattractive, and exhausting, the. hunters state.
Traps require to be examined daily while bears prowl nearby. Rifle owners must follow Japan's stringent guns laws and. buy ammo and weapon storage.
Those troubles came to a head previously this year in Naie,. where hunter Tatsuhito Yamagishi, 72, implicated the local. government of taking hunters for given, without purchasing a. longer-term service.
As soon as we grow old and have no option however to give up, this. reliance on the hunters' association is not going to work,. Yamagishi stated.
Naie's local government declined to discuss the dispute. with Yamagishi but said authorities were taking actions to resolve. the bear issue, including working with certified hunters from. outside the area.
Some professionals, consisting of Koji Yamazaki, a professor at Tokyo. University of Agriculture who studies bears, stated depopulation. and a decrease in the quantity of managed farmland in current. decades may have led bears to end up being bolder about approaching. towns. Clearer demarcation between habitats would help human beings. and bears coexist, he said.
Yoshikazu Sato, professor of farming at Rakuno Gakuen. University, said bears appeared to be raising cubs closer to. human settlements, causing young bears not to fear people as. much as previously. Climate change-driven shifts in the ripening and. flowering of fruits, nuts and leaves may drive bears to rob. crops when their usual food sources are low, he included.
What we require is a daily, constant effort to make sure. that bears don't get in human locations, Sato said.
BEAST WOLF
Katsuo Harada, an 84-year-old hunter, stated that ultimately,. Japan ought to create a system where hunters are paid enough to. support a household. Unless they're paid correctly, we can't. support the next generation of hunters, he stated.
Harada brings the scars of a bear attack more than twenty years. ago, when the animal sank its teeth into his skull.
It sounded like it was munching on some raw radish, he. said.
He battled the bear, and his searching buddies called for. aid. The subsequent surgery took 16 hours, he stated.
Harada is now part of a non-profit organisation, Farming. Assistance Hokkaido, that assists neighborhoods keep troublesome. wildlife at bay.
If I do not keep doing my job, there might fall,. Harada stated.
Japan's environment ministry in September cautioned about the. possibility of a rise in bear attacks towards year-end, when. the animals typically scavenge for food to accumulate fat for. hibernation. In 2023, bear sightings and attacks peaked in. October, according to main information. With Japan's population aging and shrinking, some companies are. turning to technology to manage bears.
Propped on four rods, the Beast Wolf robot sold by. Sapporo-based Wolf Kamuy releases grumbles, barks and risks from a. loudspeaker, triggered by a sensing unit.
Priced at about 400,000 yen (approximately $2,550) and powered by. solar power, the gleaming-eyed beast has demonstrated some. success in warding off bears, though its sensor can be triggered. by other animals, said business vice-president Yuji Ohta.
However Yamagishi, the hunter in Naie, stated it takes years of. analysing pawprints and dung and discovering to read bears' indications. to comprehend how to trap them, including that human knowledge will. remain essential to managing the problem.
Yamagishi believes it would take three to 5 years to train. a new generation of hunters.
Already, we'll all be retired, he stated.
(source: Reuters)