Merz vows 1% growth next year as coalition pushes back on infighting claims
Chancellor Merz pledges at least 1% GDP growth in 2026, citing reforms and better data, as coalition leaders deny internal friction.
Economy
Canada Hits Back With $20 Billion in Retaliatory Tariffs as Trade War Deepens
Canada imposed retaliatory tariffs on $20 billion of US goods, escalating the trade war and threatening a key alliance.
US Inflation Holds at 3.7% in July as Fed Weighs Next Move
US inflation stayed at 3.7% in July, with core prices steady at 3.3%, keeping pressure on the Federal Reserve.
Czech lawmakers override veto to ease budget deficit limits
Czech lower house overrides presidential veto, approving a bill that relaxes budget deficit rules and expands government spending capacity.
Iran and Oman Strike Deals on Strait of Hormuz Revenue Share
Iran and Oman have finalized agreements on their share of the Strait of Hormuz and its revenues, the Revolutionary Guards announced Wednesday.
Danube port logjam strands dozens of grain ships as Ukraine exports slow
Up to 70 ships are queued at the Danube's Sulina Canal, as bottlenecks and weather delays slow Ukraine's vital grain exports.
Japan Unveils Energy Resilience Plan to Cut Hormuz Dependence
Japan's new energy plan supports Hormuz-bypass pipelines, diversifies crude imports, and boosts nuclear and renewables.
Canadians Rally Behind Retaliatory Tariffs, Brace for Economic Pain
Canadians support retaliatory tariffs on US goods despite fears of economic impact, while US tourists decry rising costs.
Trump's Fed Reshaping Hopes Hinge on Court Battles and Board Vacancies
Court fights and Senate resistance have stalled Trump's Fed removals, but board vacancies and pending cases could still shift the balance.
Warsh's Jackson Hole debut leaves markets guessing on inflation path
At Jackson Hole, investors hope Fed Chair Kevin Warsh will clarify his inflation strategy and the bond market's role in tightening policy.
Russia's NKHP grain terminal may take four months to repair after drone attack
NKHP grain terminal at Novorossiysk could need up to four months for repairs after a Ukrainian drone attack, halting most Black Sea grain shipments.
Brazil's Election: Divergent Politics, Convergent Debt Trajectory
Analysis shows Brazil's debt will likely keep rising under either presidential candidate, with fiscal reforms seen as difficult and insufficient.
German prosecutors probe bankers over brothel financing
Cologne prosecutors are investigating three Volksbank Koeln Bonn employees over a loan financing one of Europe's largest brothels, with bribery and breach-of-trust allegations.
Thailand keeps rates at 1% as recovery stays uneven
Thailand's central bank held its key rate at 1% for a third straight meeting, citing uneven growth and improving inflation.
Hormuz Closure Reshapes Global Energy: Renewables Surge, Coal Rises
The Strait of Hormuz closure is accelerating renewable energy adoption globally, though coal use and emissions are also climbing as nations scramble for secure power.
ECB set to raise rates in September but signals pause after
ECB policymakers plan a September rate hike to 2.50% to counter Iran-war inflation, but are unlikely to signal further tightening.
Canada Slaps Retaliatory Tariffs on 700+ US Products
Canada will impose counter-tariffs on over 700 US goods from Sept 8, matching US tariffs dollar-for-dollar.
US Agriculture Secretary Acknowledges Farmer Anxiety Over Canada Trade Spat
US Agriculture Secretary Brooke Rollins admits farmers are concerned about the trade war with Canada but insists the US will ultimately benefit.
Democrats Open 8-Point Lead on Cost of Living as Midterms Near
A new poll shows Democrats leading Republicans by 8 points on cost-of-living concerns, the widest gap yet, as midterm elections approach.
IMF Chief: Global Economy Weathers Energy Shock, Fiscal Strains Loom
IMF's Georgieva says the global economy has coped with the Gulf energy shock better than expected, but fiscal pressures and inflation risks remain.