Coinbase shares fall 11.2% after profit drop
Shares in the company fell almost 7% in after-hours trading on Thursday following the release of its results.
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Reuters
2 hours ago
- Reuters
IMF lowers bar for Argentina reserves accumulation, next review due after local October elections
NEW YORK, Aug 1 (Reuters) - The International Monetary Fund lowered the bar for Argentina's reserve accumulation targets through 2026 in its $20 billion program and removed a review that was due before the country's October legislative elections as detailed in a report published Friday. Net international reserves accumulation targets were lowered through 2026, leading to a steeper accumulation curve as the 2027 target was kept in place. "The NIR accumulation target for end-December 2025 has been lowered to mainly reflect the initial shortfalls, which are gradually being addressed through the agreed corrective actions," the report said. The announcement came a day after the IMF board completed the first review of the $20 billion program approved in April. Disbursements of around $14 billion have been made for Argentina so far as part of this new program. "While early efforts to re-access international capital markets are commendable, Argentina's capacity to repay its Fund obligations remains subject to exceptional risks and continues to hinge on strong policy implementation to improve reserve coverage and sustain market access (at more favorable terms) by the time repayments to the Fund come due," said the report from IMF staff.
Daily Mail
2 hours ago
- Daily Mail
Could Pep Guardiola's 'imminent' divorce 'hurt Man City'? Sources close to legendary boss say there is 'more urgency' to finalise split as start of season approaches
Pep Guardiola and his wife are set to divorce imminently, as fears grow that their split could hurt Manchester City. The details of the Spanish football manager's divorce from wife Cristina Serra are expected to be finalised within weeks and made official as early as next month, The Sun reports. The couple had hoped to keep their separation on friendly terms, but there is now 'more urgency' as their relationship seems to have deteriorated, sources said. Pep's relationship from estranged wife Cristina has reportedly moved from 'friendly to cordial' amid 'complicated negotiations'. Spanish journalists Laura Fa, who broke the story of their split said: 'The signing of this divorce is going to be imminent. Evidently their relationship sentimentally has come to an end.' And there are now fears his marriage troubles could overshadow the start of the new season, sources say. Daily Mail has approached Manchester City for comment. Pep, 54, and Cristina, 52, have been together for 30 years and got married in 2014. Cristina, who runs a fashion business, struggled to settle in Manchester and moved back to Spain five years ago. The couple reportedly agreed to go their separate ways in December shortly after he signed a new contract with the football club, with sources claiming that it was the last straw for Cristina. The estranged couple even hired the same lawyer to avoid a messy divorce. They both attended an Oasis concert in Heaton Park last month with their two children Maria, 24, and Marius, 22, but were not pictured together. The Manchester City's boss marriage troubles, which were first reported in January, also come during his worst slump as the club's manager. Pep has already said he will leave the club in 2027 after his contract runs out to 'focus on myself'. It was claimed back in April that the couple had been trying to give their marriage a second chance after Pep and his fashion entrepreneur wife spent three days together at their former Barcelona marital home over Easter. It was the second time since news of their shock split became public in January that the former Barcelona footballer had travelled to the Catalan capital and spent time with Cristina. Barcelona-based newspaper El Nacional said after the second reunion they were prepared to 'give each another chance' and claimed 'all was not lost in their marriage.' But the journalists who broke the story of their shock split have shot down the chances of a fresh start for Pep and Cristina after their decision to call time on their 30-year relationship. Lorena Vasquez, one of a duo of well-respected Spanish showbiz reporters who call themselves the Mamarazzis, went on a Spanish TV show in February to say they had launched divorce proceedings which were 'amicable' because they were using the same lawyer. She also linked the split again to the Man City manager's unexpected decision last November to renew his contract with the Premier League club until 2027.
The Guardian
3 hours ago
- The Guardian
Deal or no deal? World leaders walk tightrope in tariff negotiations with Trump
It was grip-and-grin time for Ursula von der Leyen as she sat across from Donald Trump in Scotland last week, with the two announcing a deal for 15% tariffs on European imports that would avert a transatlantic trade war – but came at a stiff price for the 27-country bloc. After committing to a unilateral US raise on tariffs that came on the heels of a Nato commitment to increase defense spending to 5% of national GDPs, von der Leyen then thanked Trump 'for his personal commitment and his leadership to achieve this breakthrough'. 'He is a tough negotiator, but he is also a dealmaker,' she said, as the US president beamed. The EU was one of just a number of parties to strike a deal with Trump before his temporary pause on new tariffs came to an end this week. And like many others, the guiding principle for the EU appeared to be: it can always get worse. 'This is clearly the best deal we could get under very difficult circumstances,' Maroš Šefčovič, the EU trade chief, said. Others had a far bleaker interpretation of the dynamics, as Trump has wielded the threat of sky-high tariffs to cudgel his trading partners into submission. 'It is a dark day when an alliance of free peoples, brought together to affirm their common values and to defend their common interests, resigns itself to submission,' wrote the French prime minister, François Bayrou. Hungarian prime minister Viktor Orbán put it another way: 'It was Donald Trump eating Ursula von der Leyen for breakfast,' he said on his podcast. Later, he called her a 'featherweight'. World leaders have been forced to adopt a position of appeasement and pragmatism as they've approached the Trump administration, which has swung between imposing staggering tariffs on imports and then announcing last minute pauses and exclusions that suggest there is little rhyme or reason to the White House's tariff strategy. But the key factor for Trump appears to be taking whatever he can get. Countries across Asia exporting to the US were quickest to begin negotiating new trade deals with the White House. Vietnam was desperate to cut a 46% tariff imposed on the country, and Trump early last month announced that he had negotiated a 20% rate with Vietnamese negotiators. Except, it turned out, they believed that they had negotiated an 11% rate, Politico reported. And treasury secretary Scott Bessent this week admitted that he had never seen the deal, which the Vietnamese authorities have never confirmed. Trump reportedly used the trade threats along with other incentives in order to broker a recent peace between Thailand and Cambodia after fighting broke out along the border between the two countries. He soon announced a 19% rate – a significant cut from 49% for Cambodia and 36% for Thailand – which appeared more motivated by international politics than trade considerations. But while many countries in the region will breathe a sigh of relief as they avert sky-high tariffs, some see a new danger in the arbitrary redrawing of the US's trade relationship with the world. 'What we felt during this negotiation is that the US trade environment is fundamentally changing,' South Korean trade minister Yeo Han-koo said shortly after a deal was made to tariff imports at 15%, down from a threatened 25%. The two sides had made a verbally agreement but had not made a formal draft, he said, because the deal had to be struck so quickly. 'I think we are entering a new normal era,' he said. 'So, although we have overcome this crisis, we cannot be relieved, because we do not know when we will face pressure from tariffs or non-tariff measures again.' Leaders who have stood up to Trump are having the hardest time. Among others, Trump has focused his ire on Canada, which he has blamed for the fentanyl crisis in the US, a charge that Canada's prime minister Mark Carney has rejected. Trump on Friday announced that he would raise tariffs on Canada, a top trading partner, to 35%, as tough negotiations between the two sides continued. Carney, who had coined the elections slogan 'Elbows up, Canada' as a signal of defiance against Trump's tariff and annexation threats, said he was 'disappointed'. 'While we will continue to negotiate with the United States on our trading relationship, the Canadian government is laser focused on what we can control: building Canada strong,' Carney said.
