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theguardian.com | 4 min. ago NEW

Iran’s Houthi allies capture strategic island on vital oil shipping route

#Export #Iran #Island #Li #loss #oil #R #sea #Shipping #Yemen

Rampant Yemeni fighters take control of island in narrow point of Bab al-Mandab strait, which Saudi is relying on for oil exportsViolence in Yemen: why it matters and how it is linked to the US-Iran warYemen’s rampant Houthi forces have captured a strategic island in the Bab al-Mandab strait, expanding their control of the narrow waterway, one of the ​world’s vital shipping routes.The Iran-aligned Houthis took control of the volcanic island after forces allied to the UN-backed, Aden-based government left in the latest of a dramatic series of reverses along Yemen’s west coast in recent days, including the loss of the port city of Mocha on Thursday. Continue reading...

kyivpost.com | 6 min. ago NEW

Putin's Wrong – Russia’s Oil Exports and Revenue Both Slump in August

#crude #Export #oil #revenue #Russia

Contrary to what Putin said in Vladivostok, it has not been more profitable for Russia to sell crude than to refine it domestically. August’s figures saw Russia’s overall exports dropping by 7% and revenue dropping by 8%, with seaborne crude revenues dropping 32% month-on-month, to a five-year low at $90 million per day.

nytimes.com | 8 min. ago NEW

Diesel Jumps Above $6 a Gallon, Adding to Inflation Pressure

#Diesel #Inflation #oil

The price of U.S. diesel fuel hit to a new high over mounting fears that fighting in the Middle East could further threaten oil supplies.

koreatimes.co.kr | 10 min. ago NEW

Korea's economic recovery remains solid, led by exports: finance ministry

#economy #employment #Export #Inflation #jobs #oil #oil price #recovery #semiconductor #Support #unemployment #Unemployment Rate

Korea's economy continues to show solid signs of recovery, supported by robust exports and improving domestic consumption, the finance ministry said Friday. The Ministry of Finance and Economy offered the assessment in its monthly economic report, known as the Green Book, maintaining its positive assessment from the August report while noting that uncertainties surrounding the war in the Middle East persist. "Recently, the South Korean economy has been showing solid signs of recovery, supported by a substantial increase in exports and improving domestic consumption," the report said. Korea's exports surged 68.7 percent in August from a year earlier, buoyed by strong semiconductor shipments. "However, as uncertainties related to the war in the Middle East have widened somewhat, pressure on people's livelihoods continues amid inflation caused by high oil prices and employment difficulties faced by vulnerable groups and sectors," it added. In August, Korea added 184,000 jobs from a year earlier, while the unemployment rate remained unchanged at 2 percent. The increase marked the largest gain

theguardian.com | 22 min. ago NEW

Nation pauses to remember September 11 on 25th anniversary

#AI #Anthropic #dividend #housing #Killed #market #media #mortgage #Musk #Plus #Safeguard #SET #Startup #trade #Trump #world trade

First Thing | Commemoration ceremonies to be held around the world for the nearly 3,000 killed in 2001 terror attack on US. Plus, JD Vance sets out his stall as heir to Donald TrumpGood morning. It is a sombre day for the nation as people gather to mourn and remember the nearly 3,000 victims of the attacks on September 11 2001, when 19 al-Qaida hijackers seized control of four airliners, slamming two of the planes into the World Trade Center, one into the Pentagon in Arlington, Virginia, and the fourth into a field in western Pennsylvania.We have comprehensive coverage of the anniversary, which will be marked by ceremonies around the world. There are stories of the day from people who were there. Stanley Praimnath and Brian Clark were two of only four individuals known to have survived above the impact zone in the south tower, and they spoke to our Washington bureau chief David Smith. Anna Sweeney Rossman was five when her mother, Amy Sweeney, a flight attendant, was killed onboard American Airlines flight 11, and she spoke to Ramon Antonio Vargas about how the events of that day have cast a shadow on her life.Donald Trump’s promise of a $5,000 “Trump dividend” for every US citizen if Republicans retain control of the US Congress in November’s midterm elections has sparked incredulity and accusations of bribery.With his approval rating at a historic low, Trump brought down the curtain on the Republicans’ first ever midterm convention by pleading with supporters to do him “the biggest favor” and “pretend” they are voting for him in November’s US elections.JD Vance, meanwhile, made a clear pitch that he should be the heir to Trump with a blistering speech that featured exaggerated claims of success, criticism of the Democrats as “lunatics” and an aggressive dismissal of a protester waving a Mexican flag.A US appeals court has rejected Trump’s attempt to impose sweeping restrictions on mail-in voting before November’s high-stakes midterm elections, dealing a fresh blow to the president’s attempted crackdown.Anthropic has detailed efforts by bad actors to misuse its AI for the production of bioweapons. More researchers and staff members at the AI startup have posted their own dire warnings about the safety of the technology, but Elon Musk called the chorus of concerns a “setup” and a “psyop”.California has adopted what Gavin Newsom described as “nation-leading” legislation that bans addictive social media features for young users, regulates companion chatbots and implements new safeguards around AI.Sales of previously occupied US homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices. Continue reading...

newsbeep.com | 24 min. ago NEW

Russian Central Bank Holds Key Rate at 14%

#Bank #central bank #Hold #interest rate #Key Interest Rate #Russia

Russia’s Central Bank kept its key interest rate at 14% on Friday, saying that rising fuel costs, driven…

nytimes.com | 27 min. ago NEW

Influencers Invited to the Republican Midterm Convention Largely Avoided Talking About The Economy

#economy #media #Trump

Online media stars eager to promote President Trump and Republicans worked to find a message that would resonate with an audience that is struggling with an affordability crisis.

globalnews.ca | 27 min. ago NEW

Carney’s cabinet huddles for 2nd day in Banff as trade war intensifies

#Import #trade #trade war #Trump

The two-day retreat comes as U.S. President Donald Trump ratchets up an ongoing trade war by moving to ban some Canadian imports, including alcohol and some dairy products.

theguardian.com | 41 min. ago NEW

US consumer prices stayed high in August as Iran war pushed energy costs up

#Consumer Prices #Core Inflation #energy #energy prices #food prices #Inflation #inflation rate #Iran

Annualized inflation rate was 3.4%, same as July, and core inflation, which omits energy and food prices, was up to 2.4%US consumer prices remained stubbornly high in August as the end of the ceasefire between the US and Iran pushed energy prices up, according to data from the US Bureau of Labor Statistics released on Friday.The annualized inflation rate was 3.4%, the same as it was in July. The most recent peak was seen in May, when the inflation rate hit a three-year high at 4.2%. Core inflation, which strips out volatile energy and food prices, increased to 2.4% in August. Continue reading...

ft.com | 1 hrs. 2 min. ago

US inflation held steady at 3.4% in August as high fuel prices persist

#Fed #Inflation

Figure comes ahead of high-stakes Fed meeting

nypost.com | 1 hrs. 4 min. ago

Inflation rises 3.4% in August in last report before Fed’s interest-rate decision

#consumer price index #Fed #index #Inflation

The Consumer Price Index rose 3.4% on an annual basis, still stubbornly above the Fed’s 2% goal but the same rate as July,  the Bureau of Labor Statistics said Friday. On a monthly basis, it rose at a 0.4% pace.

koreatimes.co.kr | 1 hrs. 6 min. ago

KB Financial cans incumbent chairman to tap deputy as new leader

#Bank #competitiveness #growth #market #Reform #Transformation #Value

KB Financial Group selected Vice Chairman Lee Jae-keun as its next chairman for a three-year term, surprising a market that had widely expected incumbent Chairman Yang Jong-hee to secure another term. Lee was selected over Yang and former Woori Bank CEO Kwon Kwang-seok. His appointment is due to be finalized at a shareholders meeting on Nov. 20, when Yang's current term expires. "The group selected Lee to lead a bold transformation and generational shift as it seeks to strengthen its core competitiveness and secure new growth engines beyond its current strong performance," the group's chairman recommendation committee said in a statement. At Friday's meeting, the committee conducted two-hour in-depth interviews with each of the three shortlisted candidates. They were assessed on five criteria: professional experience and expertise, leadership, morality, alignment with the group's vision and values, and commitment to sound management over the short and long term. The committee then held a final vote. The leadership change comes as financial authorities pursue governance reforms aimed at c

ft.com | 1 hrs. 38 min. ago

France’s debt interest bill to jump 25% this year

#debt #Forecast #France #GDP #GDP growth #growth

Finance minister Roland Lescure also downgrades GDP growth forecast for 2026

newsbeep.com | 1 hrs. 55 min. ago

Electrification is Reshaping Global Economy and Kazakhstan Has Lot at Stake

#climate targets #economy #energy #energy transition #global economy #Kazakhstan

ASTANA – The global energy transition is often discussed through the language of climate targets, emissions cuts and…

euronews.com | 1 hrs. 56 min. ago

Fact check: Which EU economy is performing the best?

#economy #employment #EU #growth #Portugal

Recent comments by Portugal's prime minister have prompted discussion about which EU country currently has the best-performing economy and employment growth rate.

nytimes.com | 1 hrs. 58 min. ago

Bessent Takes on the Bond Vigilantes

#bond #market

As a rout in the bond market deepens, the pressure grows on Treasury Secretary Scott Bessent to restore calm.

ft.com | 2 hrs. 14 min. ago

Ex-Goodwin lawyer pleads not guilty to insider trading in London

#acquisition #Insider Trading

Richard Bloomfield faces five counts relating to acquisition of maternity-wear company Seraphine Group

euronews.com | 2 hrs. 14 min. ago

Europe spends record €7.3bn on Russian Arctic gas in just eight months, surpassing 2025 total

#Europe #Export #Gas #Russia #Shipping

Two European companies dominate the Arctic shipping network: Scotland's Seapeak and the Greek-linked shipping firm Dynagas. Together, vessels tied to these two European companies managed 72% of all Yamal LNG exports.

cnbc.com | 2 hrs. 14 min. ago

The oil shock is testing private credit borrowers already burdened by high debt costs

#credit #debt #Inflation #interest rate #Interest Rates #oil #oil shock

Oil near $100 could further squeeze leveraged private credit borrowers as investors weigh the risk that inflation could push interest rates higher again.

koreatimes.co.kr | 2 hrs. 18 min. ago

US loosens Iran's grip on Strait of Hormuz but war is not over

#Barrel #Benchmark #crude #Diesel #Export #Gas #gas price #Inflation #Iran #Israel #oil #oil price #Saudi Arabia #transport #Trump #United States #Yemen

In recent weeks, the United States has succeeded in loosening Iran's grip over the Strait of Hormuz while virtually shutting down Iran's own oil exports, accelerating its economic free fall. But the war launched by the U.S. and Israel in February — intended to last a few weeks — is still far from over, and the stalemate is costly for both sides. An agreement reached in June quickly crumbled , with no sign of diplomatic progress since then. Low-level fighting persists, and the U.S. does not seem to have an exit strategy. The mounting economic pressure on Iran has yet to stoke an uprising, and if its leaders are backed into a corner, they may opt for military escalation rather than capitulation. Their Houthi allies in Yemen have meanwhile stepped up attacks on Saudi Arabia , helping to push oil prices back up. The price of a barrel of Brent crude, the international benchmark, surged above $100 this week, and diesel — heavily used in transport and farming — hit a record, potentially stoking inflation. U.S. President Donald Trump has acknowledged that gas prices are likely to stay h

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mirror.co.uk | 2 hrs. 31 min. ago

John Healey insists UK economy is 'resilient' after forecast-smashing growth in July

#economy #Forecast #growth #Iran

The UK economy grew by a much better than expected 0.4% in July - but experts warn a slowdown is looming amid jump in Iran war related costs

independent.co.uk | 2 hrs. 32 min. ago

AI spending splurge helps UK economy grow in July

#AI #economy #GDP #Gross Domestic Product #growth

Gross domestic product (GDP) increased by 0.4% in July, following growth of 0.3% in June, official figures showed.

foxnews.com | 2 hrs. 34 min. ago

Ontario premier wants Republicans to lose House and Senate over Trump's trade war

#Canada #Hold #trade #trade war #Trump

Ontario Premier Doug Ford says he hopes Republicans lose the House and Senate in the midterms to hold President Donald Trump accountable for the trade war with Canada.

businessinsider.com | 2 hrs. 35 min. ago

Why stocks could weather coming rate hikes just fine

#Fed #interest rate #Interest Rates #Rate Hike #stock #stocks

Investors tend to dread higher interest rates, but there's reason to believe that stocks will keep humming along even if the Fed tightens policy.

businessinsider.com | 2 hrs. 35 min. ago

Trump’s latest affordability plan comes with a trillion-dollar catch

#bond #dividend #Dollar #market #Trump

Trump's proposed $5,000 national dividend could add pressure to an already strained bond market.

koreatimes.co.kr | 2 hrs. 55 min. ago

Who is Lee Jae-keun?

#acquisition #Bank #earnings #Financial Planning #Hold #Holding #housing #Portfolio #Wealth Management

Lee Jae-keun, who was named KB Financial Group's next chairman on Friday, is a KB veteran who has held senior roles spanning finance, strategy, global operations and wealth management for more than three decades. Lee, born in 1966, graduated from Sogang University with a degree in mathematics before studying financial engineering at the Korea Advanced Institute of Science and Technology. In 1993, he joined Housing & Commercial Bank, a predecessor of KB Kookmin Bank, and has spent more than three decades at KB. Lee served as head of financial planning and chief financial officer (CFO) at the holding company, where he played a leading role in the acquisitions of LIG Insurance, Hyundai Securities and Woori Financial, a consumer lending company formerly owned by Woori Financial Group, helping diversify the group's non-bank portfolio. He then moved to the banking unit, serving as CFO and head of sales before being named the industry's youngest bank chief in 2022. During his three-year tenure, Lee helped reshape the bank's earnings structure and laid the groundwork for record net income in 202

koreatimes.co.kr | 3 hrs. 12 min. ago

KB Financial picks head of global business as next chairman

#Bank #competitiveness #growth #market #Reform #Transformation #Value

KB Financial Group selected Vice Chairman Lee Jae-keun as its next chairman for a three-year term, surprising a market that had widely expected incumbent Chairman Yang Jong-hee to secure another term. Lee was selected over Yang and former Woori Bank CEO Kwon Kwang-seok. His appointment is due to be finalized at a shareholders meeting on Nov. 20, when Yang's current term expires. "The group selected Lee to lead a bold transformation and generational shift as it seeks to strengthen its core competitiveness and secure new growth engines beyond its current strong performance," the group's chairman recommendation committee said in a statement. At Friday's meeting, the committee conducted two-hour in-depth interviews with each of the three shortlisted candidates. They were assessed on five criteria: professional experience and expertise, leadership, morality, alignment with the group's vision and values, and commitment to sound management over the short and long term. The committee then held a final vote. The leadership change comes as financial authorities pursue governance reforms aimed at c

newsbeep.com | 3 hrs. 25 min. ago

UPI can't remain free forever; digital payments critical for financial penetration: Ashok Lahiri – Moneycontrol.com

#Deflation #GDP

UPI can’t remain free forever; digital payments critical for financial penetration: Ashok Lahiri  Moneycontrol.comDouble deflation debate over GDP methodology…

euronews.com | 3 hrs. 27 min. ago

European bond yields hit multi-year highs as global sell-off continues

#bond #Inflation #yield

Long-term European government bond yields remain close to multi-decade highs, as inflation and interest-rate concerns keep driving the sell-off.

kyivpost.com | 1 hrs. 37 min. ago

Ukraine’s IMF Review Delayed Until December as Tax Reforms Stall, Source Says

#GAP #IMF #Reform #Resistance #Russia #Ukraine

Ukraine’s second IMF review has been pushed to December and will be combined with the third, delaying the next disbursement, a government source told Kyiv Post. IMF staff met opposition lawmakers during their September visit to discuss the legislative deadlock. Ukraine also faces a $32.6 billion financing gap for 2027 as Russian attacks raise costs and political resistance complicates efforts to secure more European aid.

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independent.co.uk | 3 hrs. 44 min. ago

UK tinned mackerel no longer contains mackerel

#Import #Value

The Chilean jack mackerel is of lower nutritional value and is imported from South America

euronews.com | 3 hrs. 45 min. ago

Economic growth: France lags behind its European neighbours

#economic growth #Forecast #France #growth

The government has cut its 2026 growth forecast from 0.7% to 0.5%, a day after an even more pessimistic estimate from Insee.

nytimes.com | 1 hrs. 4 min. ago

Here’s what to know.

#consumer price index #Federal Reserve #index

The Consumer Price Index report for August is playing an outsize role in the Federal Reserve’s policy decision next week.

abc.net.au | 4 hrs. 20 min. ago

Analyst warns of 'late-stage bubble' as rates and oil prices surge

#Analyst #Inflation #interest rate #Interest rate hike #oil #oil price #Rate Hike

Global interest rate hikes are predicted as oil prices spark inflation fears.

axios.com | 4 hrs. 24 min. ago

Vance: MAGA's millennial messenger for the midterms

#Barrel #BIT #bond #Bonds #Boom #crude #Diesel #Gas #gas price #India #Iran #KID #Li #media #Mexico #mortgage #oil #oil price #R #sea #Support #Trump #Yemen

DALLAS — Support for President Trump is dropping among millennials and Gen Zers — particularly young men. Vice President Vance is in charge of getting them back in the midterms.Why it matters: The 42-year-old Vance, the first millennial VP, capped off the GOP's two-day convention here with a direct appeal to families with young children that emphasized the "birthright" of U.S. citizens.Vance also sought to cast Democrats as anti-American, anti-family "crazies.""America belongs to those who love it. Not those who hate it," he said.Zoom in: Support for Republicans is slipping across all age brackets, but the disapproval among millennials and young men is an acute concern for Trump's political operation because they were crucial to his 2024 victory.Millennials, born between 1981 and 1996, are the largest generation in America.They're also the cohort with the largest number of school-age kids — and particularly feel the bite of higher food and gas prices, driving forces behind Trump's low poll numbers.In his 41-minute speech, Vance established his millennial bona fides by mentioning that he's now the father of four young children who share in the "birthright ... to inherit the blessings of the greatest country on Earth."Vance's speech fell on the one-year anniversary of the assassination of his friend and ally, MAGA activist Charlie Kirk, who was 31 when he was shot during an appearance at a Utah college."Charlie spoke to young men in particular," Vance said. "He understood that there was no greater calling for a young man ... than falling in love, starting a family and becoming a father."In contrast, Vance pointed to the now-deleted social media posts of a Michigan Democratic congressional candidate, William Lawrence, who once posted "fuck ... the nuclear family." Vance also attacked Democratic Texas Senate candidate James Talarico and suggested he was too obsessed with transgender kids: "I never want to see that guy's web browser history."The vice president also took umbrage with Michigan Democratic Senate candidate Abdul El-Sayed for suggesting that Vance's now-deceased grandfather wouldn't have loved the vice president's wife, Usha, because she is of Indian heritage. In the midst of accusing the left of opposing the "birthright" of American children, Vance was interrupted by a demonstrator waving a Mexican flag in the American Airlines Arena."Well, my friend, if you love Mexico so much, get your ass over there. I'll buy you the plane ticket," Vance said to the loudest cheers of the night for him.Behind the scenes: Earlier in the day, Vance addressed a closed-door room of Republicans and emphasized the need to talk up the administration's record on lowering costs for prescription drugs — and to attack Democrats."We have to remind the American people of all the good things that we're doing. And number two, we have to remind the American people of how effing crazy the Democrats have become over the past couple of years," Vance said.Friction point: Vance obliquely touched on the major source of the administration's unpopularity — Trump's war in Iran and the high prices it's caused — and asked undecided and unsure voters to overlook it."I'm asking you to do what Charlie did: Do not throw the baby out with the bathwater."Meanwhile, oil prices rose this week to more than $100 a barrel, and diesel in some California gas stations is almost $10 a gallon.Mortgage rates are rising and the administration's efforts to stop the jumps have proven feckless so far.And on Thursday, Houthi rebels in Yemen were closing in on a strategic Red Sea port that could threaten more oil tankers and cause oil prices to skyrocket even more.The other side: Democrats and other critics say the administration's policies, from cutting Medicaid to gutting other programs for kids, are anti-family.The big picture: The Dallas convention was all about Trump, not Vance. And it was about the upcoming Nov. 3 elections — not the passing of a torch, which Trump is loath to talk about as he nears his final two years in the White House.Vance officially hasn't decided whether he'll run for president in 2028, but few insiders believe he won't. "The president will hand over the keys to JD on Inauguration Day, but it's not a topic of discussion," one Trump adviser said. "This about winning this November."What's next: Vance and Trump plan to hit the campaign trail to support as many as 35 congressional candidates and a dozen Senate campaigns."I'm going to go to every one of those states for congressmen and for senators," Trump said Wednesday night. "And we're going to have rallies just like this."Between the lines: Vance is younger than any member of Trump's Cabinet, the freshest face in an administration led by the oldest person ever elected to the presidency — Trump, an 80-year-old Baby Boomer."The dynamic you're seeing play out in the administration between the young millennial leader and the boomer is happening in corporate boardrooms across America," an administration political adviser said."JD is uniquely qualified to talk to parents with young families. He's one of them, so this is only the start."

theguardian.com | 4 hrs. 35 min. ago

‘Fresh from the roof’: the supermarket growing salad a few metres above the tills

#Gas #Italy #Regional #Supply Chain #supply chains

Customers seeking greens at one Berlin outlet are dealing with some very local supply chains indeedWalking into the Felix Thomas REWE supermarket in Lankwitz, Berlin, customers are immediately presented with a choice of greens: romaine, rocket, iceberg. But last month, a new option joined the selection: Lankwitz loose-leaf lettuce. A combination of head lettuce, romaine lettuce, Lollo Rosso, and dark green easy leaf lettuce, its yellow packaging makes it stand out in a row of green. But it’s not just the flashy packaging that makes it distinct. Unlike its neighbouring lettuces, which come from regional farms or all the way from Italy, these greens were grown just a few metres away – or rather, a few metres up. “Frisch Vom REWE Dach” or “Fresh from the REWE roof”, the bags read.Rooftop farms are nothing new: in cities such as Paris, Hong Kong, Copenhagen and New York, similar farms supply food to adjacent food retailers or even restaurants. This model has the potential to reduce greenhouse gas emissions from transportation (and its associated costs), minimise the urban heat effect, make use of dead space and perhaps even improve the relationship between buyers and their food. Continue reading...

nytimes.com | 4 hrs. 39 min. ago

How to Make Sense of Mayhem in the Bond Market

#bond #Bonds #market #stock #Stock Market

The stock market is easy to talk about. But bonds are a different story. Our columnist has some pointers to help make you a bond maven.

npr.org | 4 hrs. 40 min. ago

These Michigan swing voters are bracing for higher prices from trade war with Canada

#Canada #tariff #trade #trade war #Trump

President Trump's tariff standoff with Canada is rankling some key voters ahead of this year's midterm elections.

nbcnews.com | 10 min. ago NEW

Inflation ticked up in August, setting the stage for the Fed to hike interest rates

#Fed #Inflation #interest rate #Interest Rates

Inflation overall in August rose by 0.4% month-over-month to an annual rate of 3.4%, which was unchanged from July.

newsbeep.com | 4 hrs. 54 min. ago

Boy dying of cancer told mum: ‘I don’t want to be forgotten’

#Don #Fusion

In July that year, Jake was diagnosed with stage three, fusion-positive alveolar rhabdomyosarcoma. “It was really difficult to…

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