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Russian drone strikes nuclear fuel storage facility near Chornobyl in Ukraine
Ukrainian officials said that a 'Russian drone' had struck a storage area for spent nuclear fuel near Ukraine’s now-disused Chornobyl plant. They added that the radiation levels remained stable. Separately, the Kyiv General Staff and state atomic agency stated that a container-receiving facility?had partially been destroyed, but no spent fuel had been stored at the time of?attack. The fire that resulted was put out and there were no reported injuries. Russia has not publicly commented on the alleged attack?on the facility which is located?around 15 km (9miles) away from the Chornobyl Plant, the site where the world's biggest nuclear disaster occurred. Andrii Sybiha, Ukrainian Foreign Minister, wrote on X: "This isn't the first time Russian forces have put Ukrainian nuclear facilities in danger." "Russia's nuclear blackmail and threats against nuclear safety are systematic, deliberate, and inacceptable." A Russian drone attacked a containment 'arch that was over the Chornobyl reactor in February 2025. The 'arch had been destroyed by the explosion and meltdown of April 1986. ?Russia denied responsibility. Kyiv has also accused Moscow of attempting to attack the largest nuclear power plant in Europe, Zaporizhzhia Nuclear Power Plant located in southeast Ukraine. (Reporting and editing by Tomaszjanowski).
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Embraer observes that airlines are delaying their decisions about plane purchases due to the Iran war
Embraer CEO Francisco Gomes Neto said 'on Saturday that some airlines are delaying their decisions on whether or not to exercise their aircraft purchase options due to a lack of certainty over the war in Iran. This uncertainty has led to a rise in 'jet fuel prices. Gomes Neto, the Brazilian planemaker, noted that while there have been no requests to delay deliveries or slowdowns in active sales campaigns he was noticing a growing caution around incremental commitments. He said that some companies who could exercise previously signed options were delaying that to better understand the?evolution of the situation. Embraer has a commercial backlog of nearly five years worth of deliveries. The company is pursuing multiple sales campaigns to sell its E2 family and hopes to close some deals next month at the Farnborough airshow in the United Kingdom. Embraer wants to capitalize on recent agreements, including those with Finnair and Azorra. It believes that the E2 family's fuel-efficiency can increase demand. Gomes Neto stated that several campaigns are currently underway, and the timing of any potential deals is heavily dependent on the customers. "I'm not sure if the commercial aviation sector will have a strong year like last year, but I think it should be good." Embraer is aiming to increase its output. The company has set an internal goal of delivering between 95 and100 commercial aircraft by 2027. This year, the?outlook is between 80 and85 planes. Gomes Neto said that the goal is more dependent on smoother supply chains than it is on geopolitical tensions such as the Iran war being resolved. He said that the bottlenecks in the industry, which have been present since the pandemic, are slowly improving. He added, "It is about getting the?cadence correct." Embraer is also looking to improve margins within its commercial aviation division. Gomes Neto stated that the company has renegotiated older contracts with lower profitability, and is expecting a stronger demand for new agreements to support better pricing.
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Israeli forces kill a Palestinian child and injure his parents on the West Bank
The Palestinian Health Ministry reported that Israeli forces killed and injured a 7-month-old Palestinian child in the Tel Rumeida area south of Hebron, West Bank on Friday evening. The ministry identified the infant as Sam Fahd Abu Haikal, and stated that he died on the scene. His parents were moderately injured by gunshots. The grandmother of the baby said that the family stopped the car when they saw Israeli soldiers and military vehicles in the distance. She claimed that shots were fired at them which they first thought were warning shots. She said that "one bullet hit my grandson and lodged in his mother's cheek, after traversing his face, crossing his head and striking his mother's cheek." The bullet also grazed her father's finger and the mother is currently hospitalized. Israeli military claimed that during Friday's operational activity, soldiers in the Hebron region perceived a vehicle speeding toward them. One soldier fired a single shot at the vehicle. It said that three Palestinians had been injured and taken to hospital for treatment. The military stated that an initial investigation found that those injured were "uninvolved civilians" and that the incident is 'under review'. Tel Rumeida is an area in Hebron where Israeli settlers are under heavy military protection among Palestinian residents. It has been a hotbed of violence for many years, especially when it comes to the Israeli-occupied West Bank. According to a report by the European Union in 2024, more than 3 million Palestinians live in East Jerusalem and the West Bank, including over 700,000.
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Five killed in Russian attacks on Ukraine's Kherson region
The Kherson Governor said that three separate incidents occurred on Friday in which five people were killed by Russians in the southern Kherson region of Ukraine. Oleksandr Prokudin wrote in the 'Telegram' that a strike in a district in the main city of the region, also known as Kherson, had killed three elderly people. Their bodies were discovered in homes damaged by a bomb. Prokudin reported that an attack on a petrol station, north of the city, killed one person and injured seven others. A drone strike in the evening?killed an individual in a village, north of Kherson. Kherson was one of four regions annexed to Russia by Russia six months after the Russian invasion in 2022. Russian forces seized much of the area in the early stages of invasion. However, Ukrainian forces recaptured large stretches of territory including the city of Kherson. Russians are a frequent threat to Ukrainian-held territories. Local officials said that a Ukrainian drone, which is a common target for the Ukrainians, struck a car in the Belgorod region of western Russia, killing its driver. Could not independently verify the reports. Both Russia and Ukraine deny that they deliberately target civilians. (Reporting and editing by Ron Popeski)
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Trump promises to end the Iran war quickly while campaigning in Wisconsin for Republicans
U.S. president Donald 'Trump' on Friday pledged to end the Iran War quickly and remove an alleged source of high prices while campaigning in rural central Wisconsin. He was doing so in a bid for Republicans to keep control of Congress in midterm elections. The visit to Chippewa Falls highlighted the Republican strategy to retain control of the U.S.?House of Representatives. He said that progress could be made in the negotiations with Iran, but a deal to end this conflict is still elusive. He encouraged Wisconsin voters to be energized in preparation for the election. Trump stated at a roundtable in Chippewa Falls that "we're going out of Iran very soon and it's gonna be strong one way, or another." "Your fertilizer costs will go down dramatically, just as they did four months ago." Rain poured down on a line of people waiting outside to enter a smoky?farmbuilding. Some attendees were Trump fans while others viewed Trump's recent policy on Iran with more skepticism. Tom Paff, who is a data analyst from Boyd in Wisconsin, said he was "definitely a Trump fan" but added that he wasn't happy with the high gas prices. He said, "I don't believe we belong in the Middle East." Derrick Van Orden is the district's representative and closely aligns himself with President Trump. He touts the "Trump administration"s focus on rural America, as a "benefit". His narrow victory in the 2024 reelection has made him one of the top targets for national Democrats hoping to overturn the 217-212 Republican House Majority. Van Orden told the crowd at the rally, while standing in front of farm equipment, that Trump cares for farmers in America. If anyone disagrees with him, "you can look them in the eyes and tell them this is a pile manure." Rebecca Cooke, Van Orden’s Democratic opponent, said at the farm of her family in Eau Claire, Wisconsin that she believed?Republicans had brought Trump to her District because they saw her race as being tight. She also noted that Health and Human Services secretary Robert F. Kennedy Jr. was in the district last week. Cooke says that Trump's policies hurt farmers. She said: "I believe that if you look at the farmers who Republicans see as an important part of their base, then they are being squeezed by tariffs. They're also getting squeezed because they have to pay for healthcare and inputs due to the war in Iran." Trump promised to reduce inflation during his presidential campaign in 2024, but the prices have increased since Trump's tariffs were implemented last year. Energy prices have risen since the Iran War began. According to the American Automobile Association, Wisconsin's average gasoline price this week of $4.04 is $1.08 higher than it was a year earlier. Trump said that the political implications of rising energy prices do not increase pressure on Iran to reach a deal. Many of Trump's Republican allies, however, are eager to focus on other issues than Iran. They want to prevent a Democratic takeover of Congress which would likely stymie Trump. Trump's Wisconsin visit is the fourth top-level administration official to have visited this district in the past year. The others were Vice President JDVance's visits in August and in February and Kennedy's most recent stop. Steve Holland, Renee Hickman and Nandita Bose; Steve Holland, Cynthia Osterman, David Gregorio and Sergio Non edited the article.
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The US IPO of Sinda by billionaire Kaplan is a way to mine the market recovery
The mining firm Sinda filed for a U.S. IPO on Friday, marking billionaire Thomas Kaplan's'second attempt' to enter the public markets, following Sunshine Silver's listing a 'day earlier', as 'interest in IPOs' rebounded. The filing did not reveal the terms of?the?offering. The U.S. IPO Market exploded in 2026. A variety of sectors were eager to list and take advantage of the excitement among investors for new listings. Elon Musk’s SpaceX will?start trading in New York in what is expected to be the largest IPO ever. Anthropic, a leading AI company, also filed a confidential application to go public last week. CopperTech Metals, a mining company, filed for a New?York?listing on Tuesday. Sunshine Silver Mining listed on the New York Stock Exchange (NYSE) on Thursday. The Electrum Group is a natural resource-focused investment company. Thomas Kaplan is the founder and chairman of the company. He is a prominent investor who specializes in precious metals, natural resources and other assets. Sinda has exploration and exploitation rights over?five adjacent mining concessions located in Mexico's historic Guanajuato Silver Belt, according to its filing. The project is described by the company as a large-scale, high-grade silver-gold discovery that has the potential to be of global significance. The IPO proceeds will be used for underground exploration, for?other project costs and for ongoing exploration. As exploration costs increased, the mining company's net loss was $11.6 million for the three-month period ended March 31. This is compared to a $2.6 million loss in 2013. Morgan Stanley, Scotiabank, and BMO Capital Markets are joint book-running managers for Sinda's offering. The company plans to list its shares under the ticker "SIND" on the NYSE. Reporting by Pritam Biwas in Bengaluru
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Texas ranchers are on alert after a screwworm parasite is detected in a calf
La Pryor, a quiet Texas cattle town, has become the center of the screwworm battle after the first U.S. instance in decades was discovered there. This prompted a?quarantine on livestock and put ranchers and pet-owners on edge. On Wednesday, a calf in a ranch was found to have?the meat-eating?parasite. It had a large hole around its umbilical chord. Since more than a decade, ranchers in South Texas are preparing for the arrival screwworm. The flies have moved from Colombia, through Central America and closer to the U.S. Border. The parasite can decimate local wildlife and cattle herds. U.S. Department of Agriculture secretary Brooke Rollins said that only one confirmed case had been reported, and the agency was working to prevent a spread of the parasite that threatens Texas' multi-billion dollar cattle industry. Rollins said that she would be traveling to Texas 'next week. She gave a speech at a rally on Friday with President Donald Trump, in Wisconsin's 3rd Congressional District. This is an agricultural district where a race for the November midterm elections has become competitive. Rollins did not mention screwworm. USDA WORKERS LEADER CONTROL EFFORTS The USDA sent 28 workers to Zavala County in Mexico, near the border with Coahuila, on Friday. They set fly traps and released sterile flies?to stop their reproduction, as well as talking to ranchers. Rear Admiral Michael Schmoyer said that four more workers would be arriving soon. The major roads leading out of La Pryor are marked with?blinking-orange signs that urge vehicles with livestock to pull up to a checkpoint with state and sheriff's personnel who will inspect the animals to look for signs of screwworm. Marcel?Valdez is a retired educator and Texas A&M University extension agent. He recalled when screwworm was last seen in South Texas in the 1960s, as a young boy. He recalled the screwworm infested calves kicking and licking at their open wounds. The smell of rotting meat as hundreds of larvae devoured the animals alive. And the sharp smell from the black, tarlike medicine he had used to treat them. He is now most concerned about the younger cattle ranchers, who do not have experience in treating this pest. Also, he is worried about the large number of wild animals which could be vectors of the disease and the limited production of sterile flys. He said that the screwworm can quickly get out of control. TEXAS DECLARES A STATE OF DISASTER Greg Abbott, the Republican governor of Texas, declared Friday a disaster and asked that the federal government speed up completion of an sterile flies production facility. The plant was supposed to be operational by November 2027, after breaking ground in April. Abbott proposed that Texas pay for additional costs to speed up construction. Abbott stated at a recent press conference that "we need to get the large volume of sterile fly as soon as possible." It's crucial that the new facility, which is currently being built in Texas, be completed even quicker. The sterile male flies mate wild female screwworms in order to produce unfertile eggs. Abbott stated that the facility must be finished before summer 2027, because pests are more likely to spread in summer than winter. He said, "We can't make it through another summer." Some Texas politicians and ranchers, including some in Trump's Republican Party of Texas, have lambasted USDA efforts. Brent Smith, an attorney from Kinney County (near Zavala County) wrote in X: "The USDA had plenty of time to prepare, but they failed." Rollins stated on Thursday that it was predicted that screwworm would cross the border into the U.S. last year. The Trump administration's actions prevented this, giving time for the USDA to launch a rapid response. Fears of more infestations continued on Friday to shake markets, and extended a rally in U.S. Cattle Futures.
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Prices of oil fall amid rising hopes for a de-escalation of the US-Iran War
Oil prices dropped on Friday, as traders grew more confident that a renewed conflict between the U.S.A. and Iran is less likely. Brent crude futures fell $2.08 or 2.18% to $92.95 per barrel at 11:37 CST . Brent closed the previous session 2.84% down. U.S. West Texas Intermediate Crude was $89.93 per barrel, down $3.11 or 3.34% after a loss of 3.1% on Thursday. Phil Flynn is a senior analyst with Price Futures Group. He said that the market does not see an escalation of tensions between the parties. Even though we haven't reached a deal, the market seems to be de-escalating. Petroleum Development Oman confirmed that operations at Mina al Fahal were not affected after three sources reported that oil loading was suspended due to an explosion near the port's mooring berths. Oman exports between 800,000 and 900,000 barrels of crude oil per day from its terminal. Brent was up 1.25 % and WTI by around 3.1%. Contracts rose earlier this week as fighting flared up in the Middle East, while U.S. and Iran war peace talks continued to drag on, while the Strait of Hormuz remained restricted, through which a fifth of world oil flows. Commerzbank analysts stated on Friday that "as hopes for a deal between the U.S.A. and Iran have been dashed yet again, the prices of Brent crude oil and European natural gases rose this week." Commerzbank said that Brent's gains were capped due to oil inventories remaining longer than expected, rerouted imports, and a falling demand. Hezbollah's leader Naim Qassem rejected a U.S. mediated agreement between Israel and Lebanon to stop the fighting on Thursday. Iran has demanded a ceasefire between Israel and the Lebanese government in Lebanon as a precondition for any deal with Washington. Donald Trump, the U.S. president, said that he thought progress was being made in the relationship between Israel and Lebanon. He also stated on Thursday that Lebanon deserved peace. Tony Sycamore, IG's market analyst, said in a?"note" that "any optimism is heavily clouded due to a tangled net of headlines and anti-headlines." Haitham al Ghais, the Secretary General of OPEC, said that despite the Middle East conflict, and the closure of the Strait of Hormuz, the oil demand forecast for this year is 1.2 million barrels of oil per day. According to shipping data the U.S. naval blockade has largely been responsible for the decline in Iranian oil exports. However, weak demand from China has also contributed to the lower prices. Reporting by Erwin Seba, Robert Harvey, and Ahmad Ghaddar, in London; Florence Tan, and Sam Li, in Singapore. Editing by Sonali, Kim Coghill and Elaine Hardcastle.
Dollars slide on trade and tax concerns
As June began, the U.S. Dollar plunged to its lowest level since six weeks. Concerns about U.S. Tariffs were back in the spotlight after the legal confusion of last week and rising military tensions around the world.
The euro was the leader, unfazed by the prospect that the European Central Bank would cut interest rates again on Thursday. The new German chancellor Friedrich Merz will visit Washington on Thursday to meet U.S. president Donald Trump as trade negotiations between Europe and America continue to be closely watched.
The dollar is susceptible to fears of foreign capital flight as markets are still concerned about the U.S. Fiscal Bill that is currently being debated in the Senate. This bill gives the administration the ability to tax companies and investors who come from countries with 'unfair' foreign taxes.
On Monday, the focus was back on tariffs. It seemed that President Donald Trump would push for levies in some way despite last week's legal opposition.
After the weekend, Trump's plan of doubling duties on import steel and aluminum from Wednesday to 50% hit the greenback as Beijing retaliated against allegations that it had violated an agreement regarding critical minerals shipments.
The weekend was marked by geopolitical tensions of great importance and bellicose threats. Gold rose.
Pete Hegseth, the U.S. Secretary of Defense, warned his Indo-Pacific allies on Saturday to increase their spending on defence. Ukraine-Russian war continues to rage. Ukrainian drones continue to strike dozens of Russian aircraft deep within Russian territory. Gaza's conflict is not ending.
The major countries are building weapons at a rapid pace. Britain is expanding its fleet of nuclear-powered attack subs as part a review of defence, aimed at preparing the country for modern warfare and countering the Russian threat.
The oil price rose by about 3% Monday, after the producer group OPEC+ maintained its output increase in July at the level of the previous two month.
There was some good news on the interest rates front in a week that saw a lot of data from the U.S. Labor Market.
Federal Reserve Governor Christopher Waller stated on Monday that further rate cuts are possible in the second part of the year. Waller said that since the rise in inflation pressures linked to Trump's increased import taxes is unlikely to persist, he supports looking past any tariff effects to near-term-inflation in setting policy rates.
As expected, China's manufacturing sector shrank in May for the second consecutive month.
After Karol Nawrocki, the nationalist candidate of the opposition won the second round in the presidential elections, stocks in Poland fell by 1.4%.
Before Monday's bell rang, U.S. stocks futures were down by about half a percentage, and so too were stocks in Europe, Japan, and other parts of the world. The yields on U.S. Treasury bonds have risen again.
The column today looks at this week's major monetary decision made in Europe. It is widely expected that the European Central Bank will lower rates for an eighth time during the cycle, but the euro has risen regardless.
EURO CONUNDRUM: ECB FACES SURGING EURO DISCONNORDRUM
The euro continues to rise while the European Central Bank is cutting rates. This is because a capital reversal in the US has thrown off the relative rate shifts, and could force the ECB to further ease.
It is expected that the ECB will lower its main lending rate to 2% on Thursday, which would be half of what it was a year ago at its highest point and less than half of the Federal Reserve's equivalent. The central bank has also returned to a level it considers to be 'neutral,' meaning that the rate does not either stimulate or rein in the economy.
For the first time since almost two years, real, or inflation adjusted, ECB interest rates will return to zero.
It's amazing that the euro, after eight consecutive ECB rate cuts and the prospect of zero real rates or even negative ones in the future, has risen more than 10% against a dollar basket and 5% against a currency basket based on the major trading partners of the Euro Zone.
The nominal effective euro index has reached record levels, while the "real" version is at its highest level in over 10 years.
The euro/dollar rate has risen despite no change in the difference between the yields of two-year government bonds on either side. This is usually a reliable indicator for changes in the exchange rate. This trend is largely due to Donald Trump's trade wars, the fear of capital flight out of dollar assets because of a variety of concerns regarding U.S. institutions and policies, and Germany's historical fiscal boost.
The ECB is in a quandary if, as many believe, even a fraction (or fractions) of the trillions dollars of European capital invested in the United States are indeed returning home. How can it manage both the deflationary and domestic demand effects of a currency increase that is so rapid? The euro is not affected by the possibility of future rate cuts. The majority of ECB observers expect one or even two more rate cuts after Thursday, while money markets are predicting a 'terminal' rate of around 1.75%. This is the low end in the ECB range estimated as 'neutral. If the majority of capital repatriation is from equity investments in the U.S., lower ECB interest rates could even increase the outflows by boosting growth prospects for cheaper European stocks. Higher borrowing in Germany and across Europe should also sustain fixed income returns over the long term, increasing the pool of "safe" investments.
'GLOBAL EUROMOMENT'
The ECB may protest about 'excessive gains' in the euro, but the impact could be limited unless they are prepared to back up their words with actions. There is also a chance that it could backfire because of the reasons mentioned above.
The ECB is encouraging investment and the euro as a currency of reserve, in part, to meet the massive capital requirements for retooling the military, digital, and energy sectors.
Christine Lagarde, ECB head, said in a speech last week in Berlin that there is an opportunity for a global euro moment, where the single currency can be a viable alternative to dollars, bringing immense benefits to the region if the governments are able strengthen the financial and security infrastructure of the bloc.
A soaring currency rate during a trade conflict may seem like a good thing, but it will cause some concern among the major exporting countries in the region.
ECB hawks, doves, and others will have to decide whether the continued easing of monetary policy to counter disinflationary risks is only stoking domestic inflation in the long run. Not to mention the fiscal boost that's coming next year.
It is clear that the ECB will take into account in its new economic projections, due to be released on Thursday, the 7% increase in the euro/dollar rate and the near 10% decline in the global oil price since the last set of forecasts made in early March.
Morgan Stanley economists believe that even if central bank raises core inflation forecasts, headline inflation could still fall short of the 2% target between mid-2025 and early 2027. This is even though the GDP growth outlook for 2025 has been revised upwards.
At this point, it is impossible to make any predictions. Few central banks or major traders have any idea where the U.S. trade war or tariffs will lead.
The ECB is unlikely to be able to cap the Euro, as global trade and investments are a source of anxiety. The ECB is faced with a big dilemma: whether to maintain the status quo or ease up even further.
The chart of the day shows how tariff-related import distortions have distorted U.S. Gross Domestic Product readings this year. Last week, models that track GDP inputs were again jarred when a sharp contraction of the goods trade deficit in April occurred as the front-running imports to beat the tariffs in the 1st quarter faded. According to the Census Bureau of the Commerce Department, with many tariffs in effect, imports plummeted, helping to reduce the goods trade surplus by 46%, to $88 billion. Imports dropped $68 billion, to $276 billion. Exports rose $6.3 to $188.5. If the goods deficit shrinks, the net trade component in GDP calculations could spur significant growth in this quarter. It is similar to how it reduced Q1 GDP by a record-breaking 4.9 percentage points. The Atlanta Federal Reserve’s ‘GDPNow’ tracker is now boosted by the trade figures. It sees an impressive 3.8% real GDP increase in Q2. There is still caution. There is caution. Businesses don't appear to be restocking. Wholesale inventories were unchanged last month, and retail stocks fell by 0.1%. Stockpiles are expected to drop dramatically over the rest of the quarter.
Watch today's events
* US manufacturing surveys for May from S&P Global and ISM (0930EDT), as well as April construction spending (1000EDT).
* Federal Reserve chair Jerome Powell opens Fed event in Washington. Fed Board Governor Christopher Waller and Dallas Fed President Lorie Log speak. Chicago Fed President Austan Gollisbee also speaks. Bank of England policymaker Catherine Mann also speaks.
* US corporate earnings: Campbell's
The opinions expressed are solely those of the authors. These opinions do not represent the views of News. News is committed to the Trust Principles and therefore, integrity, independence and freedom from bias.
(source: Reuters)