USA
Global shares edge higher after Wall Street slide on weak US jobs data
Global share markets advanced on Monday, recovering from a sharp selloff on Wall Street triggered by weaker-than-expected U.S. employment data.
France’s CAC 40 gained 0.8% to 7,609.44 in early trading, while Germany’s DAX rose nearly 1.0% to 23,702.42. Britain’s FTSE 100 inched up 0.4% to 9,108.28. Futures on Wall Street also pointed to gains, with Dow futures up 0.6% at 43,951.00 and S&P 500 futures also climbing 0.6% to 6,302.75.
Asian markets ended mixed after reacting to U.S. President Donald Trump’s surprise announcement of sweeping tariffs on imports from key trading partners, which are set to take effect Thursday.
Asian markets mixed as Wall Street slumps on weak U.S. jobs data
Japan’s Nikkei 225 lost 1.3% to close at 40,290.70, after recovering from deeper earlier losses. Hong Kong’s Hang Seng advanced 0.9% to 24,733.45, and China’s Shanghai Composite rose 0.7% to 3,583.31. South Korea’s Kospi gained 0.9% to 3,147.75, while Australia’s S&P/ASX 200 was little changed at 8,663.70.
Investor sentiment took a hit after the U.S. Labor Department reported that only 73,000 jobs were added in July, far below forecasts. Revisions also erased 258,000 jobs from May and June payrolls. Analysts say the disappointing data has increased expectations that the Federal Reserve could cut interest rates as early as September.
“The labor market, once a pillar of resilience, is now looking more like a late-cycle casualty,” said Stephen Innes of SPI Asset Management.
Further concerns emerged after Trump abruptly dismissed the head of the agency responsible for compiling jobs data, sparking fears over possible interference in future economic reporting.
The weak data triggered a sharp move in the bond market. The yield on the 10-year U.S. Treasury fell to 4.21% from 4.39%, while the two-year yield — closely watched for Fed rate expectations — dropped to 3.68% from 3.94%.
The Federal Reserve has held its benchmark interest rate steady since December but faces growing pressure, including from President Trump, to lower rates. At its latest meeting, the Fed again kept rates unchanged, even as its preferred inflation measure rose to 2.6% in June from 2.4% the month before — still above the 2% target.
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Meanwhile, U.S. businesses have expressed concern over the impact of the latest tariff measures, warning that rising import costs could hurt profits and lead to higher prices for consumers.
In energy trading, U.S. benchmark crude slipped 16 cents to $67.17 per barrel, while Brent crude, the global benchmark, dropped 24 cents to $69.43
In currency markets, the U.S. dollar strengthened to 148.05 Japanese yen from 147.26 yen. The euro weakened to $1.1557 from $1.1598.
Source: Agency
4 months ago
Texas governor warns of action against Democrats over Trump-supported redistricting dispute
Texas Governor Greg Abbott has warned that he will initiate steps to remove Democratic lawmakers from office beginning Monday if they do not return to the state, amid a growing political standoff over proposed congressional redistricting maps backed by former President Donald Trump.
The warning follows the departure of over 50 Democratic state legislators who left Texas for states including Illinois and New York in a bid to deny quorum and block a vote on the GOP-drafted maps. The redistricting plan aims to add five Republican-leaning congressional seats in Texas, strengthening the party’s slim majority in the U.S. House ahead of the 2026 midterm elections.
Speaking on Sunday, Abbott said he would rely on a 2021 advisory opinion by Republican Attorney General Ken Paxton that suggests legislators may forfeit their seats by refusing to perform their duties. He also alleged that lawmakers may have committed legal violations by fundraising to cover potential fines.
“This truancy ends now,” said the governor.
In response, Texas Democrats issued a brief statement: “Come and take it.”
The proposed vote, scheduled for Monday in the Texas House of Representatives, cannot proceed without a quorum—two-thirds of the 150-member chamber. Democrats currently hold 62 seats, and more than 50 are believed to have left the state, according to the Democratic Caucus.
Republican House Speaker Dustin Burrows stated that the House would convene as scheduled. “If a quorum is not present then... all options will be on the table,” he wrote on X.
The ongoing impasse is delaying votes on other critical issues, including flood relief and early warning systems following last month’s devastating floods in Texas, which claimed at least 136 lives. Democrats have criticized the Republican leadership for prioritizing redistricting over disaster response.
In a show of support, Illinois Governor JB Pritzker hosted several Texas Democrats in Chicago and has reportedly been in discussions with them for weeks. California Governor Gavin Newsom has offered similar backing.
“This is not just about Texas. It’s about safeguarding democratic rights across the United States,” said Pritzker.
Analysts say the dispute could have long-term implications, with Trump allies looking to replicate similar redistricting strategies in other states to secure a Republican advantage in the 2026 elections.
Source: Agency
4 months ago
Boeing fighter jet builders launch strike after rejecting contract offer
Workers at Boeing who manufacture fighter jets went on strike early Monday, walking out at midnight Central Daylight Time after rejecting a revised four-year labor agreement.
Approximately 3,200 employees at Boeing’s plants in St. Louis and St. Charles, Missouri, and Mascoutah, Illinois, voted against the proposal, the International Association of Machinists and Aerospace Workers (IAM) confirmed on Sunday.
The union announced the strike on X (formerly Twitter), stating: “3,200 highly-skilled IAM Union members at Boeing went on strike at midnight because enough is enough.”
The decision comes a week after the workers also rejected an earlier offer from the aerospace manufacturer, which included a 20% pay hike over four years.
“These IAM District 837 members are the ones building the aircraft and defense systems that protect our nation,” said Sam Cicinelli, the union’s Midwest territory general vice president. “They deserve a deal that safeguards their families and honors their exceptional skillset.”
Initially, union leaders had endorsed the previous contract offer, calling it a “landmark agreement” due to improvements in healthcare, pension, and overtime policies. However, after a one-week cooling-off period, workers turned down Boeing’s revised proposal.
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Boeing expressed regret over the outcome. “It’s disappointing that employees rejected an offer which provided 40% average wage growth and addressed key concerns around alternate work schedules,” said Dan Gillian, Boeing Air Dominance vice president and general manager, as well as the top executive at the St. Louis site. He added that the company has enacted contingency measures to maintain operations through its remaining workforce.
Boeing continues to face challenges following the fatal crashes of two 737 Max jets in 2018 and 2019, which killed 346 people. More recently, an Air India-operated Boeing Dreamliner crashed in June, resulting in at least 260 fatalities.
Despite the turmoil, Boeing reported an improvement in its second-quarter financials last week, with losses reduced to $611 million compared to $1.44 billion during the same period last year.
Source: Agency
4 months ago
Ex-Trump prosecutor Jack Smith under watchdog investigation
An independent watchdog agency responsible for enforcing a law against partisan political activity by federal employees has opened an investigation into Jack Smith, the Justice Department special counsel who brought two criminal cases against then-candidate Donald Trump before his election to the White House last year.
The Office of Special Counsel confirmed Saturday that it was investigating Smith on allegations he engaged in political activity through his inquiries into Trump. Smith was named special counsel by then-Attorney General Merrick Garland in November 2022 and his special counsel title is entirely distinct from the agency now investigating him. The office has no criminal enforcement power but does have the authority to impose fines and other sanctions for violations.
It was not clear what basis exists to contend that Smith's investigations were political in nature or that he violated the Hatch Act, a federal law that bans certain public officials from engaging in political activity. Sen. Tom Cotton, an Arkansas Republican, had earlier this week encouraged the office to scrutinize Smith's activities and had alleged that his conduct was designed to help then-President Joe Biden and his vice president Kamala Harris, both Democrats.
Smith brought two cases against Trump, one accusing him of conspiring to overturn the results of the 2020 presidential election and the other of hoarding classified documents at his Mar-a-Lago estate in Florida. Both were brought in 2023, well over a year before the 2024 presidential election, and indictments in the two cases cited what Smith and his team described as clear violations of well-established federal law. Garland has repeatedly said politics played no part in the handling of the cases.
Both cases were abandoned by Smith after Trump's November win, with the prosecutor citing longstanding Justice Department policy prohibiting the indictment of a sitting president.
There was no immediate indication that the same office investigating Smith had opened investigations into the Justice Department special counsels who were appointed by Garland to investigate Biden and his son Hunter.
The White House had no immediate comment on the investigation into Smith, which was first reported by The New York Post.
The office has been riven by leadership tumult over the last year. An earlier chief, Hampton Dellinger, was abruptly fired by the Trump administration and initially sued to get his job back before abandoning the court fight.
Trump selected as his replacement Paul Ingrassia, a former right-wing podcast host who has praised criminally charged influencer Andrew Tate as a “extraordinary human being” and promoted the false claim that the 2020 election was rigged. A Senate panel was set to consider his nomination at a hearing last month, but it was pulled from the agenda.
Trump’s trade representative, Jamieson Greer, is serving as acting head of the office.
4 months ago
Ex-US soldier suspected in Montana Bar Shooting that left 4 dead, prompting manhunt
A shooting at a bar in Montana on Friday resulted in the deaths of four people, and authorities launched a manhunt for the suspect, identified as a 45-year-old former U.S. Army soldier, Michael Paul Brown. According to his niece, Brown had long struggled with serious mental health issues and had difficulty accessing treatment.
The incident occurred around 10:30 a.m. at the Owl Bar in the small town of Anaconda. Public records and bar owner David Gwerder confirmed that Brown lived next door to the bar. Gwerder said the victims—one bartender and three patrons—were likely the only people inside at the time. He wasn’t aware of any previous disputes between Brown and the victims.
“He knew everyone in there. I’m certain of it,” said Gwerder. “There was no ongoing conflict. I think he just lost control.”
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A SWAT team cleared Brown’s residence, and authorities reported his last known location was the Stump Town area, just west of Anaconda. The area was sealed off by local and state law enforcement, with more than a dozen officers on the ground and a helicopter assisting from above, said retired officer Randy Clark, a local resident.
Brown is believed to be armed, according to a statement from the Montana Highway Patrol.
Military records show that Brown served as an armor crewman in the U.S. Army from 2001 to 2005, including a deployment to Iraq from early 2004 to March 2005. He later joined the Montana National Guard from 2006 until March 2009, leaving the service with the rank of sergeant, said Army spokesperson Lt. Col. Ruth Castro.
His niece, Clare Boyle, told the Associated Press that Brown had been mentally unwell for many years, and the family had tried multiple times to get him help. “This isn’t a case of a man getting drunk or high and going off,” she said in a Facebook message. “This is someone who’s seriously ill—he often doesn’t know who or where he is.”
News of the shooting spread quickly through Anaconda, leading local businesses to lock their doors and shelter with customers inside.
Located about 75 miles southeast of Missoula, Anaconda is a mountain valley town with a population of around 9,000. It was founded in the late 19th century by copper magnates and is known for its towering, now-defunct smelter stack. The Montana Division of Criminal Investigation is leading the ongoing investigation.
Barbie Nelson, owner of the Firefly Café in Anaconda, said she closed her business around 11 a.m. after a friend informed her of the shooting.
“We’re used to guns in Montana,” she said. “But for our whole town to go on lockdown—it’s shaken everyone.”
4 months ago
New offshore wind plans scrapped by Trump administration
The Trump administration is canceling plans to use large areas of federal waters for new offshore wind development, the latest step to suppress the industry in the United States.
More than 3.5 million acres had been designated wind energy areas, the offshore locations deemed most suitable for wind energy development. The Bureau of Ocean Energy Management is now rescinding all designated wind energy areas in federal waters, announcing on Wednesday an end to setting aside large areas for “speculative wind development."
Offshore wind lease sales were anticipated off the coasts of Texas, Louisiana, Maine, New York, California and Oregon, as well as in the central Atlantic. The Biden administration last year had announced a five-year schedule to lease federal offshore tracts for wind energy production.
Trump began reversing the country’s energy policies after taking office in January. A series of executive orders took aim at increasing oil, gas and coal production.
The Republican president has been hostile to renewable energy, particularly offshore wind. One early executive order temporarily halted offshore wind lease sales in federal waters and paused the issuance of approvals, permits and loans for all wind projects. In trying to make a case against wind energy, he has relied on false and misleading claims about the use of wind power in the U.S. and around the world.
The bureau said it was acting in accordance with Trump's action and an order by his interior secretary this week to end any preferential treatment toward wind and solar facilities, which were described as unreliable, foreign-controlled energy sources.
The Interior Department is considering withdrawing areas on federal lands with high potential for onshore wind power to balance energy development with other uses such as recreation and grazing. It also will review avian mortality rates associated with wind turbines.
Earlier this month, the department said all solar and wind energy projects on federal lands and waters must be personally approved by Interior Secretary Doug Burgum.
Robin Shaffer, president of Protect Our Coast New Jersey, applauded the administration for its actions and said they were long overdue. Opponents of offshore wind projects are particularly vocal and well-organized in New Jersey.
“It’s hard to believe these projects ever got this far because of the immensity, scale, scope and expense, compared to relatively cheap and reliable forms of onshore power,” he said Thursday. “We’re nearly there, but we haven’t reached the finish line yet.”
The Sierra Club said the administration's “relentless obstruction of wind energy” shows it does not care about creating affordable, reliable energy for everyday Americans.
“No matter how much they want to bolster their buddies in the dirty fossil fuel industry, we will continue to push for the cleaner, healthier, and greener future we deserve,” Xavier Boatright, Sierra Club's deputy legislative director for clean energy and electrification, said in a statement.
Attorneys general from 17 states and the District of Columbia are suing in federal court to challenge Trump's executive order halting leasing and permitting for wind energy projects. His administration had also halted work on a major offshore wind project for New York, but allowed it to resume in May.
The nation’s first commercial-scale offshore wind farm, a 12-turbine wind farm called South Fork, opened last year east of Montauk Point, New York.
4 months ago
Trump administration introduces health data system with support from Big Tech
The Trump administration is pushing an initiative for millions of Americans to upload personal health data and medical records on new apps and systems run by private tech companies, promising that will make it easier to access health records and monitor wellness.
President Donald Trump is expected to deliver remarks on the initiative Wednesday afternoon in the East Room. The event is expected to involve leaders from more than 60 companies, including major tech companies such as Google and Amazon, as well as prominent hospital systems like the Cleveland Clinic.
The new system will focus on diabetes and weight management, conversational artificial intelligence that helps patients, and digital tools such as QR codes and apps that register patients for check-ins or track medications.
The initiative, spearheaded by an administration that has already freely shared highly personal data about Americans in ways that have tested legal bounds, could put patients' desires for more convenience at their doctor’s office on a collision course with their expectations that their medical information be kept private.
“There are enormous ethical and legal concerns,” said Lawrence Gostin, a Georgetown University law professor who specializes in public health. “Patients across America should be very worried that their medical records are going to be used in ways that harm them and their families.”
Officials at the Centers for Medicare and Medicaid Services, who will be in charge of maintaining the system, have said patients will need to opt in for the sharing of their medical records and data, which will be kept secure.
Those officials said patients will benefit from a system that lets them quickly call up their own records without the hallmark difficulties, such as requiring the use of fax machines to share documents, that have prevented them from doing so in the past.
“We have the tools and information available now to empower patients to improve their outcomes and their healthcare experience,” Dr. Mehmet Oz, the administrator for CMS, said in a statement Wednesday.
Popular weight loss and fitness subscription service Noom, which has signed onto the initiative, will be able to pull medical records after the system's expected launch early next year.
That might include labs or medical tests that the app could use to develop an AI-driven analysis of what might help users lose weight, CEO Geoff Cook told The Associated Press. Apps and health systems will also have access to their competitors' information, too. Noom would be able to access a person's data from Apple Health, for example.
“Right now you have a lot of siloed data,” Cook said.
Patients who travel across the country for treatment at the Cleveland Clinic often have a hard time obtaining all their medical records from various providers, said the hospital system's CEO, Tomislav Mihaljevic. He said the new system would eliminate that barrier, which sometimes delays treatment or prevents doctors from making an accurate diagnosis because they do not have a full view of a patient's medical history.
Having seamless access to health app data, such as what patients are eating or how much they are exercising, will also help doctors manage obesity and other chronic diseases, Mihaljevic said.
“These apps give us insight about what’s happening with the patient’s health outside of the physician's office,” he said.
CMS will also recommend a list of apps on Medicare.gov that are designed to help people manage chronic diseases, as well as help them select health care providers and insurance plans.
Digital privacy advocates are skeptical that patients will be able to count on their data being stored securely.
The federal government, however, has done little to regulate health apps or telehealth programs, said Jeffrey Chester at the Center for Digital Democracy.
Health and Human Services Secretary Robert F. Kennedy Jr. and those within his circle have pushed for more technology in health care, advocating for wearable devices that monitor wellness and telehealth.
Kennedy also sought to collect more data from Americans’ medical records, which he has previously said he wants to use to study autism and vaccine safety. Kennedy has filled the agency with staffers who have a history of working at or running health technology startups and businesses.
CMS already has troves of information on more than 140 million Americans who enroll in Medicare and Medicaid. Earlier this month, the federal agency agreed to hand over its massive database, including home addresses, to deportation officials.
The new initiative would deepen the pool of information on patients for the federal government and tech companies. Medical records typically contain far more sensitive information, such as doctors' notes about conversations with patients and substance abuse or mental health history.
“This scheme is an open door for the further use and monetization of sensitive and personal health information,” Chester said.
4 months ago
Bangladesh-origin police officer killed in Manhattan shooting praised as ‘hero’
NYPD officer Didarul Islam, a 36-year-old Bangladeshi immigrant who was among the victims of a deadly shooting incident at a Manhattan office building, was praised for his bravery and selflessness.
“He was doing the job that we asked him to do. He put himself in harm’s way. He made the ultimate sacrifice,” said NYPD Commissioner Keechant Sewell Tisch. “He died as he lived – a hero.”
New York City Mayor Eric Adams echoed the sentiment, calling Islam a “true blue” hero.
“He was saving lives, he was protecting New Yorkers,” Adams said. “He loved this city, and everyone we spoke with stated he was a person of faith and a person that believed in God.”
Bangladeshi immigrant among 4 killed in shooting at New York City office tower
Islam is survived by his wife and two young sons. Tisch added, “His wife is pregnant with their third child.”
Islam had served with the New York Police Department (NYPD) for over three years.
While authorities have not released the identities of the other three individuals killed in the attack — two men and a woman — it was confirmed that one of the victims was shot inside Rudin Management’s office.
The firm, which owns the entire building at 345 Park Avenue, is one of New York’s oldest real estate companies.
A fourth male victim remains in critical condition at a nearby hospital.
Mayor Adams said the man was “fighting for his life.” Later, NFL Commissioner Roger Goodell confirmed the injured individual was an employee of the league.
“As has been widely reported, a gunman committed an unspeakable act of violence in our building at 345 Park Avenue. One of our employees was seriously injured in this attack. He is currently in the hospital and in stable condition,” Goodell said in a message to NFL staff.
Authorities said the names of the victims would be released after notifying their families.
Source: AP, Al Jazeera
4 months ago
Bangladeshi immigrant among 4 killed in shooting at New York City office tower
A gunman armed with a rifle opened fire inside a New York City office building on Monday, killing four people — including an off-duty NYPD officer — and injuring a fifth, before dying by suicide.
Police Commissioner Jessica Tisch said that one of the victims was Didarul Islam, 36, a Bangladeshi immigrant who had been with the NYPD for three and a half years.
“He was doing the job that we asked him to do. He put himself in harm’s way. He made the ultimate sacrifice,” Tisch said. “He died as he lived. A hero.”
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Police identified the gunman as Shane Tamura, of Las Vegas, and said he killed himself. He had a ‘documented mental health history,’ but the motive is still unknown, Tisch said.
“We are working to understand why he targeted this particular location,” Tisch said of 345 Park Avenue, a commercial office building whose tenants include the NFL and Rudin Management, as well as finance companies KPMG and Blackstone.
One man was seriously injured and remains in critical condition, Mayor Eric Adams said. Four others got minor injuries attempting to flee the scene.
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5 months ago
Trump hosts starmer, talks focus on global crises
U.S. President Donald Trump on Monday hosted British Prime Minister Keir Starmer at his luxury Turnberry golf resort, where the two leaders discussed key global issues including the worsening humanitarian crisis in Gaza and the war in Ukraine, alongside broader U.S.-U.K. relations.
The meeting, set against the backdrop of Trump’s coastal Scottish golf course, included serious talks on famine in Gaza, Russia’s invasion of Ukraine, and tariff disputes. Trump, ever eager to showcase his business holdings, also highlighted Turnberry’s renovations and scenic views.
Starmer arrived determined to urge stronger U.S. engagement on Gaza. He called the situation there “desperate,” as images of starving children circulate globally. Trump initially emphasized previous American aid but shifted when pressed, acknowledging Israel’s role and saying, “I want them to make sure they get the food.”
On Ukraine, both leaders discussed Trump’s proposed timeline to force Russian President Vladimir Putin to negotiate peace. Trump said he is considering a shorter window—just 10 to 12 days—to push for a ceasefire.
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They also addressed Palestinian statehood, with Starmer reiterating support as part of a two-state solution. Trump responded, “I don’t mind him taking a position.”
Later, Trump flew with Starmer to Aberdeen to open a new family-owned golf course, amid local protests. Some demonstrators criticized Trump for undermining democracy and global institutions.
Though Starmer is not a golfer, he played along with Trump’s enthusiasm. The pair also reviewed trade matters, including a proposed deal and pending tariffs on Scotch whisky.
Despite their differing styles, both leaders expressed mutual respect. “We focus on what’s important for our countries,” Starmer said, while Trump praised their personal chemistry and ongoing cooperation.
5 months ago