US intelligence contradicts Kursk encirclement claims. 2024 Planet Labs Inc/Handout via REUTERS/File Photo |
- Ukrainian soldiers in Kursk have lost ground in recent days but are not encircled by Russian forces, contrary to recent comments by US President Donald Trump and Russian President Vladimir Putin, according to three US and European officials familiar with their governments' intelligence assessments.
- Trump and Ukrainian President Volodymyr Zelenskiy agreed to work together to end Russia's war with Ukraine, in what the White House described as a "fantastic" one-hour phone call. It was their first conversation since an Oval Office shouting match last month.
- European Union leaders will commit to do more to make the bloc more competitive with military muscle in the face of US tariffs and other economic challenges. Leaders are also expected to re-affirm their financial and military support to Ukraine.
- Trump will sign a long-anticipated executive order that aims to shut down the Department of Education, acting on a key campaign pledge, according to a White House summary seen by Reuters.
- At least 70 Palestinians were killed and dozens wounded in Israeli airstrikes across Gaza today after Israel resumed its bombing campaign and ground operations in the enclave, a Gaza health official said. In Israel, opposition to Prime Minister Benjamin Netanyahu is finding a voice.
- Turkey detained 37 people accused of "provocative" social media posts over the detention of Istanbul Mayor Ekrem Imamoglu, the government said. Thousands of protesters have taken to streets and university campuses in various cities, despite a four-day ban on gatherings imposed after Imamoglu's arrest.
- Indonesia's parliament passed contentious revisions to the country's military law, which will allocate more civilian posts for military officers. Street protests against the changes are expected to take place.
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- The Federal Reserve held interest rates steady as expected. Fed Chair Jerome Powell said the Trump administration's initial policies, including extensive import tariffs, appear to have tilted the economy toward slower growth and at least temporarily higher inflation.
- Analysis: Investors are taking some comfort from the Fed's wait-and-see approach, after being rattled by tariff-related turmoil that poses a threat to markets and the economy.
- With the Fed's policy meeting out of the way, the central bank spotlight has turned to some of its European counterparts. The Bank of England looks set to keep interest rates on hold, while Sweden's Riksbank kept its policy rate unchanged at 2.25% and the Swiss National Bank cut its policy interest rate to 0.25% from 0.5% earlier today.
- Berlin's borrow-to-spend splurge is driving up borrowing costs, further choking embattled property companies seeking fresh loans and threatening to compound Germany's wider economic woes.
- After years of setting the global pace, the S&P 500 Index has dropped 9% from its peak while Hong Kong and Europe benchmarks rise. In this week's Viewsroom podcast, Breakingviews columnists discuss whether trade wars and threats to the rule of law portend a durable shift.
- Nike is expected to post its steepest revenue decline in nearly five years in its quarterly results, as its new products failed to open the wallets of Americans reluctant to snap up non-essential items like sporting goods and clothing.
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Power, politics and the Olympic prize |
IOC race heats up on Greece's sunlit shores. REUTERS/Louisa Gouliamaki |
The race for the most powerful job in world sport is heating up. Listen to Correspondent Karolos Grohmann on the Reuters World News podcast as he breaks down what's at stake in the election of the next International Olympic Committee president. |
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World War Two steam train returns to the rails in England. REUTERS/Jaimi Joy |
The 'Canadian Pacific', a 1940s steam train that took soldiers and supplies to England's south coast during World War Two, returned to service, taking on board volunteers who spent 14 years reconditioning it and relatives of those who built it. |
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