Breakfast News Recap: Binance hack shocks crypto as Ukraine, Middle East and US election tensions mount
Binance said attackers tried to steal up to US$6.3 billion in digital funds after compromising a staff laptop, in what appears to be the largest hack in the cryptocurrency sector to date. The exchange said at least US$2.54 billion has been frozen as it investigates the security issue. 🔗 🔗In Ukraine, Russia said it struck energy infrastructure in and around Kyiv, while a Russian drone attack on Dnipro hit the city’s main railway station, according to the UN’s top humanitarian official in the country. Separately, a Russian strike on Chernihiv killed two teenage girls and damaged homes, businesses and vehicles.... [Continue Reading]
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US midterms near as Republicans face backlash over economy, tariffs and Trump policies
The United States is less than a week away from midterm elections that could reshape control of Congress and test the political strength of President Donald Trump's agenda. All 435 seats in the House of Representatives and 35 seats in the Senate are on the ballot. Republicans currently hold narrow majorities in both chambers, making the outcome especially significant for the White House and for lawmakers in Washington.The immediate political backdrop is a shift in voter sentiment on the economy, inflation and the broader direction of the country. The supplied reporting says the same "change" message that helped Republicans win... [Continue Reading]
EU lawmakers press Beijing to curb exports during Beijing visit
A delegation of European lawmakers has warned China that its export-driven economic model is unsustainable for Europe, pressing for wider limits on cheap imports during a visit to Beijing. The group of 12 members of the European Parliament said the recent deal on Chinese hybrid car exports should be treated as a starting point rather than a one-off arrangement. They argued that similar measures should be extended to other industrial sectors.The warning came as the European Union's trade deficit with China reached a record €360 billion and continued to widen. German Socialist MEP Bernd Lange, who chairs the European Parliament's... [Continue Reading]
US midterms enter final week as Obama and Trump trade attacks in Georgia and Ohio
Former US President Barack Obama and President Donald Trump held rival campaign rallies in Georgia and Ohio on Wednesday, sharpening the final-day messaging in the run-up to the US midterm elections. The two men used their appearances to attack each other's records and frame the vote as a choice over the economy, trade and foreign policy. Their rallies came just five days before the midterms, adding to an already intense closing stretch of campaigning.At a rally in Atlanta, Georgia, Obama criticised Trump over the war in Iran, saying the current president had made a series of bad decisions and started... [Continue Reading]
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Trump expands voter-fraud hunt ahead of US midterms
US President Donald Trump is widening his push to investigate alleged voter fraud as the midterm campaign intensifies, with attention focused on states that are usually considered safe for Republicans. The latest reporting points to Ohio as a key stop in his campaign blitz, after a visit to Texas the previous day. The move comes as Republicans and Democrats prepare for a closely watched battle for control of Congress.According to the supplied material, Trump is due to travel to Ohio for what would be his third visit to the state this month. Ohio has historically been reliable for Republicans in... [Continue Reading]
UK to suspend import taxes on more than 100 everyday goods in pre-Budget package
The UK government says it will remove or suspend import taxes on more than 100 products, including marmalade and gherkins, as part of a pre-Budget package aimed at easing pressure on household budgets. The measures are being presented as a set of "everyday fixes" designed to give families "breathing space" on living costs. The announcement comes ahead of the chancellor's Budget statement on Wednesday.According to the government, the tariff changes will apply to more than 100 "family favourite" products and could save households up to £21 a year when combined with existing suspensions on items such as pasta, fruit juice... [Continue Reading]
Trump says Canada tariff dispute could be resolved soon
US President Donald Trump has said the trade dispute with Canada could be resolved soon, while defending higher tariffs on Canadian goods at a rally in Port Huron, Michigan. He made the remarks at a political event aimed at boosting Republican candidates ahead of the 3 November midterm elections. The comments come as the tariff standoff continues to affect Michigan's border economy and the Detroit-based auto sector.Trump told the crowd that the dispute would be settled "pretty soon" and said Canada was willing to give the United States "anything at this moment." He repeated his view that higher tariffs were... [Continue Reading]
Audi to build $4bn US factory in Georgia amid tariff pressure
Audi has said it will spend $4bn to build its first factory in the United States, with the plant planned for Macon, Georgia. The German carmaker said the project will create 4,500 jobs and will be used to produce its Q7, Q8 and Q9 sport utility vehicles. The announcement comes as Volkswagen, Audi's parent company, faces pressure from steep US tariffs on imports from the European Union.The company said the new site is expected to build 200,000 SUVs a year. It also said some production would shift from Bratislava in Slovakia, reflecting a wider reorganisation of its manufacturing footprint. The... [Continue Reading]
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US-Ireland talks continue on removing whiskey tariffs
Negotiations are still under way over the removal of the 10% US tariff on Irish whiskey, after Donald Trump announced last month that he would take the duty off. The tariff remains in place for now, and officials say the technical steps needed to implement any change have not yet been completed. Ireland says it wants zero tariffs for all EU spirits, not only for Irish whiskey.A spokesperson for Ireland's Department of Foreign Affairs and Trade said intensive engagement with the US Trade Representative on technical implementation was still ongoing. The department said it wanted the change to be implemented... [Continue Reading]
US lifts some tariffs on Canadian goods as trade dispute eases slightly
The United States will remove tariffs on selected Canadian goods from 30 October, the White House said, in a move that eases part of the trade dispute between the two countries. The decision affects a range of products including plywood sheets, some paper products, certain machinery and refrigeration equipment, and some packing crates and boxes. It comes after trade talks collapsed earlier this summer and the two sides entered an escalating tariff war that has affected businesses on both sides of the border.The White House said the change was intended to protect the economic prosperity and national security of the... [Continue Reading]
The Sovereign Shakedown: Trump’s High-Stakes Table, the Russian Mirror, and the Main Street
The veneer of institutional diplomacy has been entirely stripped away, revealing a raw and unvarnished reality. The global order is no longer governed by treaties, norms, or multilateral consensus. It is dictated by the unrestrained exercise of coercive leverage. Under the current doctrine emanating from Washington, the complex machinery of international relations has been reduced to a binary instrument of absolute dominance. We have entered the era of the unilateral ultimatum, where the traditional boundaries of sovereignty are subordinated to the whims of an administration operating less like a representative republic and more like a global syndicate. This is not... [Continue Reading]
Rubio turns to Jamnagar as US faces pressure over high oil prices
US Secretary of State Marco Rubio has ended a visit to India in the western port town of Jamnagar, a place that is not usually a stop for foreign leaders. The town featured prominently in his trip because it is home to a major oil refinery owned by Mukesh Ambani, one of Asia's richest men. Rubio also visited Mumbai, but his itinerary did not include the Indian capital, Delhi, prompting questions about the purpose of the trip.According to the supplied material, Rubio arrived in Mumbai on Tuesday, where he met Indian Foreign Minister S Jaishankar and several of the country's... [Continue Reading]
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