Hamas, India-US trade and Taiwan semiconductors
Hamas says it's prepared to coordinate to deliver aid to hostages it holds in Gaza after a videos showingcaptives drew sharp criticism. A top Trump aide accuses India of financing Russia's war in Ukraine – what went wrong with trade negotiations? Plus, Taiwan cultivates young overseas talent to meet a shortage in the semiconductor industry.
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Further Reading
Over 3,000 Boeing fighter jet workers go on strike after rejecting contract offer
Texas Democrats seek to block redistricting vote by leaving state
Ukrainian drone attack sparks fire at railway station in Volgograd region, Russia says
Japan's Ishiba signals talks with Trump for early cut to US auto tariff
China's independent oil firms elbow into Iraq's majors-dominated market
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Reuters
17 minutes ago
- Reuters
Oil set for steepest weekly losses since June as tariffs cloud demand outlook
Aug 8 (Reuters) - Oil prices were little changed in early Asian hours on Friday, but were headed for their steepest weekly losses since late-June, as investors expressed concern over the impact to the global economy from tariffs that kicked into effect on Thursday. Brent crude futures were down three cents to $66.40 a barrel at 0050 GMT, on track to decline more than 4% week-over-week. U.S. West Texas Intermediate crude futures were down six cents, or 0.1%, to $63.82 a barrel, set to fall more than 5% on a weekly basis. Higher U.S. tariffs against a host of trade partners went into effect on Thursday. The tariffs raised concerns of weaker economic activity, which would hit demand for crude oil, ANZ Bank analysts said in a note. Oil prices were already reeling from the OPEC+ group's decision last weekend to fully unwind its largest tranche of output cuts in September, months ahead of target. At Thursday's close, WTI futures had dropped for six consecutive sessions, matching a declining streak last recorded in December 2023. If prices settle lower on Friday, it will be the longest streak since August 2021. Adding more pressure on the oil market, the Kremlin on Thursday confirmed Russian President Vladimir Putin would meet U.S. President Donald Trump in the coming days, raising expectations of a diplomatic end to the war in Ukraine. Additional U.S. tariffs against India for buying Russian crude oil helped limit the decline in oil prices to some extent. The move, however, is unlikely to reduce the flow of Russian oil to outside markets in a material way, StoneX analysts wrote to clients on Thursday. Trump on Wednesday also said China, the largest buyer of Russian crude oil, could be hit with tariffs similar to those being levied against Indian imports.
South Wales Guardian
29 minutes ago
- South Wales Guardian
David Lammy to host JD Vance as US vice-president arrives for UK holiday
The Foreign Secretary is expected to host Mr Vance on Friday at Chevening, his official country retreat in Kent, as the vice-president begins a summer holiday with his family in the UK. They will discuss UK-US relations in a bilateral meeting before being joined by their families. The pair are said to have developed a warm friendship, bonding over their difficult childhoods and Christian faith. Mr Lammy is reported to have attended Mass at the vice-president's Washington residence during a visit in March, and now plans to repay the favour with the stay at Chevening. Built in the 17th century, Grade I-listed Chevening was previously the home of the earls of Stanhope, before it was gifted to the state in 1959. It has traditionally acted as the foreign secretary's country residence, but the prime minister can nominate any of his cabinet colleagues to use the house. Friday's meeting comes at a time of persistent global uncertainty, with Israeli Prime Minister Benjamin Netanyahu suggesting an expansion of his country's campaign in Gaza and Russian President Vladimir Putin reportedly preparing to meet Donald Trump in the coming days. The US and UK have found themselves at odds on Gaza, with Sir Keir Starmer's pledge to recognise a Palestinian state if Israel does not agree to a ceasefire drawing criticism from Washington. On Ukraine, Mr Trump said on a visit to the UK last month that he would bring forward the deadline for Mr Putin to agree a ceasefire or face higher tariffs to Friday. But speaking in the White House on Thursday, the US president would not commit to taking action when the deadline expires, saying only that it was 'up to' Mr Putin. Kremlin officials claimed that a meeting between the US and Russian presidents had been agreed and could take place as early as next week, despite Moscow showing no sign of relenting in its attacks on Ukraine. Liberal Democrat leader Sir Ed Davey urged Mr Lammy to use his meeting with Mr Vance to press for new American sanctions ahead of any meeting between the presidents. He said: 'We've been here before: Putin stalling and trying to curry favour with Trump through promises of a ceasefire – before rocking Ukraine with even more bombs. 'With his self-imposed deadline elapsing tomorrow, Trump needs to put his money where his mouth is and introduce the sanctions he promised on Russia. It would be a disaster if Trump lets himself be fooled by Putin again.' The vice-president and his family are also expected to visit Hampton Court Palace during their trip to the UK, the bulk of which will be spent in the Cotswolds.
Powys County Times
an hour ago
- Powys County Times
David Lammy to host JD Vance as US vice-president arrives for UK holiday
David Lammy is due to meet US vice-president JD Vance amid ongoing conflicts in Gaza and Ukraine. The Foreign Secretary is expected to host Mr Vance on Friday at Chevening, his official country retreat in Kent, as the vice-president begins a summer holiday with his family in the UK. They will discuss UK-US relations in a bilateral meeting before being joined by their families. The pair are said to have developed a warm friendship, bonding over their difficult childhoods and Christian faith. Mr Lammy is reported to have attended Mass at the vice-president's Washington residence during a visit in March, and now plans to repay the favour with the stay at Chevening. Built in the 17th century, Grade I-listed Chevening was previously the home of the earls of Stanhope, before it was gifted to the state in 1959. It has traditionally acted as the foreign secretary's country residence, but the prime minister can nominate any of his cabinet colleagues to use the house. Friday's meeting comes at a time of persistent global uncertainty, with Israeli Prime Minister Benjamin Netanyahu suggesting an expansion of his country's campaign in Gaza and Russian President Vladimir Putin reportedly preparing to meet Donald Trump in the coming days. The US and UK have found themselves at odds on Gaza, with Sir Keir Starmer's pledge to recognise a Palestinian state if Israel does not agree to a ceasefire drawing criticism from Washington. On Ukraine, Mr Trump said on a visit to the UK last month that he would bring forward the deadline for Mr Putin to agree a ceasefire or face higher tariffs to Friday. But speaking in the White House on Thursday, the US president would not commit to taking action when the deadline expires, saying only that it was 'up to' Mr Putin. Kremlin officials claimed that a meeting between the US and Russian presidents had been agreed and could take place as early as next week, despite Moscow showing no sign of relenting in its attacks on Ukraine. Liberal Democrat leader Sir Ed Davey urged Mr Lammy to use his meeting with Mr Vance to press for new American sanctions ahead of any meeting between the presidents. He said: 'We've been here before: Putin stalling and trying to curry favour with Trump through promises of a ceasefire – before rocking Ukraine with even more bombs. 'With his self-imposed deadline elapsing tomorrow, Trump needs to put his money where his mouth is and introduce the sanctions he promised on Russia. It would be a disaster if Trump lets himself be fooled by Putin again.' The vice-president and his family are also expected to visit Hampton Court Palace during their trip to the UK, the bulk of which will be spent in the Cotswolds.
