Ukraine and US expected to sign minerals deal
business economy 25 minutes ago
The minerals deal between the US and Ukraine could be signed as early as Thursday, with top Ukrainian officials reportedly en route to Washington. The BBC's Ukraine correspondent James Waterhouse spoke to Alexa Cook.
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National Business Review
a day ago
- National Business Review
Trump to meet Xi in China; ECB cuts rate amid trade uncertainty
TGIF and welcome to the end of another working week. Here's a recap of your daily dose of international business and political news. First this Friday, US President Donald Trump and Chinese President Xi Jinping spoke by phone and agreed to further trade talks to resolve tariff disputes between the world's two largest economies, Bloomberg reported. Trump said the trade relationship with China had got 'a little off track' but said 'we're in very good shape with China and the trade deal'. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer would all represent Trump at the trade talks, Bloomberg noted. Meanwhile, the BBC said Trump will visit China at some stage to help repair the fractured trade relationship after a "very good talk" with President Xi. No other details were revealed about the suggested trip. Elon Musk. Elsewhere, tension between Trump and billionaire businessman Elon Musk escalated in full public view. Trump called Musk 'CRAZY' in capital letters on social media, and suggested he might target Musk's government contracts, CNBC reported. Trump wrote that Musk was 'wearing thin' by the end of his tenure as head of the Department of Government Efficiency (DOGE). 'I asked him to leave,' Trump said. More broadly, the S&P 500 fell during Thursday trading, led by a drop in shares of electric vehicle maker Tesla, after Trump said he was 'very disappointed' with its CEO. Musk responded saying 'without me, Trump would have lost the election'. Bloomberg reported that Trump's comments about ending Musk's government contracts and subsidies could cut to the heart of the businessman's fortune, especially at Tesla and Space Exploration Technologies. Trump, meanwhile, banned people from 12 countries entering the US from Monday local time, while seven other countries faced partial bans. He said that would protect Americans from 'dangerous foreign actors', the BBC reported. Trump noted a recent attack in Colorado as an example of foreign nationals entering the US without being 'properly vetted'. ECB President Christine Lagarde. The European Central Bank cut its benchmark rate by 25 basis points to 2% overnight, while it also lowered its inflation expectations because of a stronger euro and lower energy costs, CNBC reported. One governing council member did not support the decision to cut rates, ECB President Christine Lagarde said. Eurozone inflation fell below the 2% target rate in May to 1.9%. The ECB's latest economic projections suggested inflation to average 2% this year, compared with a 2.3% forecast set in March. Finally, people in English-speaking countries including the UK, US, Australia and Canada were more nervous about the rise of artificial intelligence than people in the largest EU economies, the Guardian reported. The poll of 23,000 adults in 30 countries also showed a quarter of people globally still don't fully understand what AI actually is. The poll also revealed very few people wanted AI-produced online news stories, films or advertisements, but most people predicted that AI would become the primary producer of all that content in the future, the Guardian noted.
RNZ News
2 days ago
- RNZ News
RNZ recognised at Radio and Podcast Awards
Alexa Cook (left) won best journalist, while Kate Green was awarded best new journalist. Photo: RNZ RNZ has won plaudits for its news and podcasts at the annual Radio and Podcast Awards. RNZ's Alexa Cook won best journalist, and reporter Kate Green was awarded best new journalist. RNZ's journalism was also recognised for best team coverage on the sinking of the HMNZS Manawanui . RNZ was also a finalist in the category for its coverage of the Tangi of Kiingi Tuheitia. RNZ won five podcast categories, including best podcast producer or producing team. The Detail , a Newsroom production for RNZ, again picked up best news and current affairs podcast. Nellie's Baby , a hit podcast by RNZ investigative journalist Kirsty Johnston, won best society and culture podcast. In the radio categories, Newstalk ZB's Mike Hosking was awarded best talk presenter, ahead of stablemate Heather du Plessis, RNZ's Lisa Owen for Checkpoint and Morning Report' s Corin Dann and Ingrid Hipkiss. Sunday Morning host Jim Mora was recognised for services to broadcasting. Newstalk ZB won network station of the year and More FM Northland won local station of the year. The Sir Paul Holmes Broadcaster of the Year was Newstalk ZB's Heather du Plessis-Allan. The full list of winners is here . Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
National Business Review
2 days ago
- National Business Review
No immediate peace for Ukraine; UK avoids 50% aluminium tariff
Ata mārie and welcome to your Thursday overview of the business and political stories making headlines. First up, Russian President Vladimir Putin has spoken to US President Donald Trump by phone and there appeared to be no immediate peace solution for Ukraine. Putin said he was obligated to respond to Ukraine's weekend drone attack, setting up a potential escalation in the conflict, CNN reported. Trump said the 75-minute conversation would not end the war in Ukraine immediately. 'We discussed the attack on Russia's docked airplanes, by Ukraine, and also various other attacks that have been taking place by both sides,' Trump said. 'It was a good conversation, but not a conversation that will lead to immediate peace. President Putin did say, and very strongly, that he will have to respond to the recent attack on the airfields.' CNBC reported that Trump and Putin also discussed Iran, and that time was running out for Iran's decision about nuclear weapons. Earlier, the BBC said a report by the UN nuclear watchdog concluded Iran had increased production of enriched uranium, a key component in making nuclear weapons. Elsewhere, the White House signalled that the UK could be spared from the fresh 50% steel and aluminium tariffs this week, the Guardian reported. Trump said he had decided to 'provide different treatment' to the UK, after a trade deal was agreed but yet to be signed between the two countries. UK Prime Minister Keir Starmer said that deal would be implemented 'within a very short time'. US President Donald Trump. Meanwhile, a provision in the more than 1000-page 'One Big Beautiful Bill Act' concerned foreign investors, the BBC reported. Section 899, known as the "revenge tax" by critics, could let the US introduce higher taxes on investors from countries with tax policies that the US did not like. The BBC said that could include digital-services taxes on technology companies. The bill had passed narrowly in the House of Representatives but still faced Senate scrutiny. If passed, Section 899 could raise tax burdens for multinationals, investors, and wealthy families, which could put US investment on ice, the BBC noted. In Gaza, around 100 Palestinians had been killed and 440 injured after a series of attacks by Israel over the past 24 hours, Al Jazeera reported. Israel's military warned starving people to avoid aid distribution sites run by the controversial Gaza Humanitarian Foundation. That was because of a planned closure for renovation and reorganisation, along with 'efficiency improvement' work. The BBC also said that roads leading to the distribution centres were considered "combat zones" during the closures. Destroyed homes in Gaza. In business news, Nissan's new chief executive Ivan Espinosa was brushing off a tough global economy, competition from China, and trade tariffs, with the need to stay flexible, CNBC reported. 'Keep the optimism up, because the environment is very tough, and you don't want to get overwhelmed. You need to keep moving. 'It's a very turbulent environment we live in. In the past, some CEOs were very stubborn, very resistant to change. You need to stay open and stay flexible.' He noted more collaboration in the automotive industry in the face of growing geopolitical tension and supply chain challenges. 'Sometimes, it's just not possible to go it alone.' Finally, a story from the quirky files, after a large elephant entered a shop in Thailand in search of food, CNN reported. CCTV footage revealed the hungry animal entered the convenience store and helped itself to snacks this week. 'The elephant just walked right up. I came out and tried to shoo it away. I told it not to come closer,' shop owner Khamploi Kakaew told CNN. The shop is located northeast of the capital Bangkok, near the Khao Yai National Park.
