Canada Signals Retaliatory Tariffs as US Auto Dispute Escalates
Canada's trade minister says retaliatory tariffs on US goods may be announced Tuesday, following Trump's threat to raise auto duties to 50%.
Economy
Tehran Drivers Queue for Hours as Fuel Shortage Worsens
Tehran residents face long queues at gas stations due to a widening fuel supply-demand gap, with officials boosting distribution to ease the crunch.
Global Markets Tread Water as Trade Threats and Iran Sanctions Take Center Stage
Markets steady as US-Canada trade tensions escalate and Iran sanctions details disappoint, with focus shifting to PCE data and Nvidia results.
Tanker Disabled in Strait of Hormuz as Pakistan Steps Up Mediation
An oil tanker was hit and disabled near the Strait of Hormuz. Pakistan's delegation concluded talks in Tehran aimed at reopening the waterway.
German Economy Shows Resilience as Growth and Business Morale Surge
Germany's Q2 GDP grew 0.3%, beating forecasts, while business sentiment hit a one-year high, signaling a steady recovery.
Russia weighs suspending grain export duty amid Black Sea disruptions
Russia may suspend its grain export duty until year-end as Ukrainian drone attacks disrupt Black Sea shipments, according to market sources.
French sugar beet harvest set to fall over 20% after drought and heat
French sugar beet harvest expected to be over 20% below the five-year average due to severe drought, heat, pests and disease.
Carney rejects US 'subsidiary' attitude as Canada braces for retaliatory tariffs
Canada will hit back with tariffs Tuesday after Carney accused Washington of treating Canada as a subsidiary in trade talks.
Ford Hits Back at Trump With Blunt Words Amid Tariff Standoff
Ontario Premier Doug Ford called President Trump a 'loser' and dismissed threats of new tariffs, as Canada readies its response.
Iranian rial hits record low as US unveils new sanctions
Iran's rial fell to a record 2.02 million per dollar on Monday as the US announced fresh sanctions targeting five key sectors of Tehran's economy.
Riksbank Signals Possible Rate Hike, But Timing Remains Unclear
Sweden's Riksbank hints at a potential rate hike amid rising inflation, but minutes show timing is still uncertain.
Kazakhstan trims 2026 oil output goal after CPC drone attacks
Kazakhstan cut its 2026 oil output target to 96 million tons from 98 million after Ukrainian drone attacks on CPC.
German Business Confidence Beats Forecasts as Recovery Gains Traction
German business morale rose more than expected in August, with the Ifo index hitting 88.8, as recovery signs firm up.
Japan's Debt-Servicing Bill Set to Hit Record ¥36.6 Trillion
Japan's debt-servicing costs are projected to rise 17.1% to a record ¥36.64 trillion next fiscal year, driven by higher interest rates.
Riksbank Signals Possible Rate Hike as Inflation Risks Persist
Sweden's Riksbank held rates at 1.75% but minutes show Governor Erik Thedeen sees a hike as the likely next move if summer inflation proves sticky.
Salvini pushes €20bn extra deficit for Italy's 2027 budget
Italy's Deputy PM Matteo Salvini wants at least €20bn added to the 2027 budget deficit, plus new levies on banks and energy firms.
Kazakhstan Refinery to Process Russian Oil, Export 30% Back to Russia
Kazakhstan's Kondensat refinery will process Russian crude and send 30% of the output back to Russia, as Moscow faces fuel shortages from Ukrainian attacks on its refineries.
AI Investment Boom Deepens US Fiscal Hole, Treasury Faces Yield Pressure
The AI boom is straining US finances through lower corporate tax revenue and higher borrowing needs, challenging Treasury Secretary Bessent's deficit plans.
Global Shifts: Labor Deals, Tariff Threats, and Immigration Rules
A roundup of global developments: labor deals in aviation and autos, new US tariffs on Canada, and stricter asylum visa rules.
Six Months Into Iran Conflict, Over 43% of Global Oil Output at Risk
Conflicts affecting major producers have cut into global oil supply and refining capacity, driving up fuel prices and inflation.