Trump-Putin talks: "No deal until there's a deal", Trump says
Trump-Putin talks: "No deal until there's a deal", Trump says
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
AsiaOne
15 minutes ago
- AsiaOne
Global markets face shaky week ahead as US pressure mounts on Ukraine, Money News
LONDON — Defence stocks and energy markets are likely to be in focus this week, as European leaders rushed to back Ukraine in talks with US President Donald Trump that may pressure Kyiv to accept a peace deal favouring Russia. Investors are watching for signs that the US may move closer to Russia in a bid to exploit vast, untapped Arctic energy resources, in a major geopolitical shift that piles pressure on Europe to rapidly boost defence spending. Trump and Russian President Vladimir Putin ended their weekend summit in Alaska without securing a Ukraine ceasefire agreement, with the US President then saying he now wanted a rapid peace deal that Kyiv should accept. Ukrainian President Volodymyr Zelenskiy is travelling to Washington on Monday for talks that leaders of nations including Germany, the UK and France will now join. "Trump seems inclined to reduce or even end US support for Ukraine. Putin got him interested in business deals," Berenberg Chief Economist Holger Schmieding said in a note to clients. "As a result, the US may lift its sanctions on Russia and invest in Russia instead," he added. "Europe will have to spend a lot more for its own defence." Defence stock rally Investors have bet on that outcome since February 2022, driving a supercharged rally in European aerospace and defence stocks with gains of over 600 per cent for Leonardo and 1,500 per cent for Germany's Rheinmetall. The euro has rallied 13 per cent against the dollar this year and traded at about US$1.17 (S$1.50) on Friday. Bank of America strategist Michael Hartnett highlighted the potential for US-Russia Arctic drilling projects to exploit 15 per cent of the world's undiscovered oil and 30 per cent of the world's undiscovered natural gas, resulting in a deep energy bear market. Brent crude, which dropped more than one per cent to near US$66 a barrel, on Friday, was still priced for a Ukraine peace deal, Hartnett cautioned, while Trump wanted lower energy prices for US consumers. Ukraine's government bonds — key mood indicators — rallied when news of the summit emerged earlier this month but have stalled at a still-distressed 55 cents per dollar. "I would think they will be a bit weaker following the recent strength as the mood seems to favour Russia following Friday's summit," Aegon Asset Management head of emerging market debt Jeff Grills said. [[nid:721430]]
Business Times
15 minutes ago
- Business Times
Gold steadies after touching one-week low as markets eye Trump-Zelensky meeting
[BENGALURU] Gold held steady on Monday (Aug 18) after hitting a one-week low, with attention turning to US President Donald Trump's meeting with Ukrainian President Volodymyr Zelensky and European leaders to discuss a peace deal with Russia. Spot gold was up 0.1 per cent at US$3,340.71 per ounce, as at 8.40 am, after hitting its lowest level since Aug 1. US gold futures for December delivery rose 0.1 per cent to US$3,385.70. European leaders are set to join Zelensky on Monday for discussions with Trump. Russia would relinquish tiny pockets of occupied Ukraine and Kyiv would cede swathes of its eastern land which Moscow has been unable to capture, under peace proposals discussed by Russia's Vladimir Putin and Trump at their Alaska summit, sources briefed on Moscow's thinking said. Benchmark 10-year US Treasury yields hovered at near two-week high level, while US dollar index inched lower, making gold less expensive for overseas buyers. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Investors are also looking ahead to the Federal Reserve's annual symposium in Jackson Hole, Wyoming, for insights into interest rate cuts paths. Last week, consumer and wholesale price data appeared to send mixed signals regarding the economic impact of Trump's import tariffs. Economists polled by Reuters largely expect the Fed to announce a rate cut in September, its first this year, with a possible second cut by the year-end as concerns mount over the US economy. Non-yielding bullion, considered a safe-haven assets during periods of uncertainity, tends to perform well in low-interest-rate environment. Meanwhile, a planned visit by US trade negotiators to New Delhi from Aug 25 to 29 has been called off, a source said. Elsewhere, spot silver rose 0.2 per cent to US$38.07 per ounce, platinum gained 0.3 per cent to US$1,339.30 and palladium was up 0.8 per cent to US$1,121. REUTERS
AsiaOne
15 minutes ago
- AsiaOne
Over 300 protests held Saturday against Trump redistricting push, World News
Pro-democracy activists and labour groups held hundreds of rallies and other events across the United States on Saturday (Aug 16) protesting the Trump administration's push for Texas to redraw its congressional map in favour of Republicans. Former Congressman Beto O'Rourke was among those who spoke on Saturday in Texas, from which dozens of Democratic state lawmakers fled to deny Republicans the quorum needed to vote on a redistricting plan that President Donald Trump had demanded. "They do this because they are afraid," O'Rourke told an audience on Saturday, speaking of those attempting redistricting. "They fear this power they see here today." Drucilla Tigner, executive director of pro-democracy coalition Texas For All, told Reuters pro-democracy and labour groups held over 300 events attended by tens of thousands of people in 44 states and Washington, DC. Many of the more than 50 Texas Democrats who fled the state have been staying in Illinois, also the site of protests on Saturday. The Texas lawmakers in Illinois are out of reach of civil arrest warrants that could be acted on within Texas. The Texas Democrats kept the map from coming to a vote during a special session Governor Greg Abbott called that ended Friday. Abbott immediately called a second special session. Abbott said that redistricting plans, legislation to increase flash flood safety in the wake of deadly July flooding, and other legislative work remains undone because Democrats are absent. California's Democratic Governor Gavin Newsom on Thursday unveiled a redistricting plan in his state that he says would give Democrats there five more Congressional seats, possibly offsetting any Republican gains in Texas. The Texas House Democrats said in a written statement on Thursday that they will only return to Texas if their state's special legislation is ended and once California's redistricting maps were introduced. [[nid:721414]]
