US: Wall St opens higher as inflation data, earnings take centre stage
At 9.30 am ET, the Dow Jones Industrial Average rose 156.35 points, or 0.36 per cent, to 44,179.64.
The S&P 500 gained 17.45 points, or 0.28 per cent, to 6,261.21 and the Nasdaq Composite gained 50.34 points, or 0.24 per cent, to 20,728.14. REUTERS
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Straits Times
3 minutes ago
- Straits Times
Brazil tackles COP30 hotel costs, under pressure from developing nations
FILE PHOTO: A drone view shows the \"Parque da Cidade\", one of the principal venues to host COP30 in November, in Belem, Brazil June 28, 2025. REUTERS/Marx Vasconcelos/File Photo SAO PAULO - Brazil assured worried governments on Wednesday it has organized enough rooms to accommodate the tens of thousands of people crowding into the rainforest city of Belem for the United Nations climate summit in November, even as its listings still fell short of the country's own projections for attendance. Valter Correia, Brazil's special secretary for the summit, known as COP30, laid out a plan to prioritize the needs of developing countries and island nations whose representatives expressed outrage during a conference in Bonn, Germany, that Belem's sky-high accommodation prices might exclude them from COP30. "What we are guaranteeing is that everyone can come at accessible prices," he said. "We can't leave small countries, countries that most suffer with issues related to climate change, out of this thing, it would be absolutely unthinkable." Environmental activists from around the globe had eagerly awaited Brazil's turn to host the climate summit after three years in which the conference was held in countries without full freedom for public demonstrations. Brazil chose Belem for the climate talks to focus attention on the world's disappearing rainforests, but civil society groups have been warning for months that a lack of accommodations in the Amazonian city would create barriers for many. Authorities have already identified more than 30,000 rooms available in the city, Correia said, compared to an estimate of 20,000 that United Nations officials told their Brazilian counterparts were required to accommodate delegations, journalists and observers. Still, the figure falls short of the demand from the 45,000 attendees at COP30 that Correia had projected earlier this year. He said on Wednesday that he expects Belem to meet additional demand as more private homes, hotel rooms, and alternative options, such as repurposed schools, become available. Top stories Swipe. Select. Stay informed. Singapore Over 600 Telegram groups in Singapore selling, advertising vapes removed by HSA Singapore 2 weeks' jail for man caught smuggling over 1,800 vapes and pods into Singapore Singapore Jail for man who fatally hit his daughter, 2, while driving van without licence Sport 'Like being in a washing machine with 40 deg C water': Open water swimmers brave challenging conditions Singapore Primary 1 registration: 38 primary schools to conduct ballot in Phase 2A Singapore ComfortDelGro to introduce new taxi cancellation, waiting fee policy Business Cathay Cineplexes gets fresh demands to pay up $3.3m debt for Century Square, Causeway Point outlets Singapore Countering misinformation requires both laws and access to trusted news sources: Josephine Teo The United Nations climate change office, UNFCCC, declined a request to confirm the number. This week, Brazil also launched a booking website with 1,500 rooms for a group of 98 developing countries and island nations, priced between $100 and $220 a night, Correia said. Another 1,000 rooms will be added to the platform soon, open to all delegations, he added, with prices of up to $600 a night. The platform will later be open to everyone else. Brazil also said it has signed a contract for 3,900 cabins in two cruise ships that will park at the port city for the COP. Correia said he also expects civil society groups to find adequate accommodations. While his office is fighting price gouging, he added, it won't be able to offer everyone rooms at lower prices. REUTERS
Straits Times
an hour ago
- Straits Times
US aims to ban Chinese technology in undersea telecommunications cables
FILE PHOTO: U.S. and Chinese flags are seen in this illustration created on March 20, 2025. REUTERS/Dado Ruvic/Illustration/File Photo WASHINGTON - The Federal Communications Commission said on Wednesday it plans to adopt rules to bar companies from connecting undersea submarine communication cables to the United States that include Chinese technology or equipment. "We have seen submarine cable infrastructure threatened in recent years by foreign adversaries, like China," FCC Chair Brendan Carr said in a statement. "We are therefore taking action here to guard our submarine cables against foreign adversary ownership, and access as well as cyber and physical threats." The United States has for years expressed concerns about China's role in handling network traffic and the potential for espionage. The U.S. has broad data security concerns about the network of more than 400 subsea cables that handle 99% of international internet traffic. Since 2020, U.S. regulators have been instrumental in the cancellation of four cables whose backers had wanted to link the United States with Hong Kong. The FCC last year said it was considering new rules governing undersea internet cables in the face of growing security concerns, as part of a review of regulations on the links that handle nearly all the world's online traffic. The FCC said it was considering barring the use of equipment or services in those undersea cable facilities from companies on an FCC list of companies deemed to pose threats to U.S, national security, including Huawei, ZTE China Telecom and China Mobile. Carr said the FCC is taking action to "guard our submarine cables against foreign adversary ownership, and access as well as cyber and physical threats." The FCC will also seek comment on additional measures to protect submarine cable security against foreign adversary equipment. Top stories Swipe. Select. Stay informed. Singapore Over 600 Telegram groups in Singapore selling, advertising vapes removed by HSA Singapore 2 weeks' jail for man caught smuggling over 1,800 vapes and pods into Singapore Singapore Jail for man who fatally hit his daughter, 2, while driving van without licence Sport 'Like being in a washing machine with 40 deg C water': Open water swimmers brave challenging conditions Singapore Primary 1 registration: 38 primary schools to conduct ballot in Phase 2A Singapore ComfortDelGro to introduce new taxi cancellation, waiting fee policy Business Cathay Cineplexes gets fresh demands to pay up $3.3m debt for Century Square, Causeway Point outlets Singapore Countering misinformation requires both laws and access to trusted news sources: Josephine Teo The cutting of two fiber-optic undersea telecommunication cables in the Baltic Sea prompted investigations of possible sabotage. In 2023 Taiwan accused two Chinese vessels of cutting the only two cables that support internet access on the Matsu Islands and Houthi attacks in the Red Sea may have been responsible for the cutting of three cables providing internet service to Europe and Asia. REUTERS
Straits Times
3 hours ago
- Straits Times
EU again fails to approve new sanctions on Russia, diplomats say
Find out what's new on ST website and app. FILE PHOTO: Plastic letters arranged to read \"Sanctions\" are placed in front of EU and Russia's flag colors in this illustration taken February 25, 2022. REUTERS/Dado Ruvic/Illustration/File Photo BRUSSELS - The European Union failed for a second day to approve a new package of sanctions against Russia on Wednesday as Slovakia continued to seek concessions over gas supplies, four EU diplomats told Reuters. Slovakia vetoed the approval of the sanctions during a meeting of EU countries' ambassadors, the diplomats familiar with the talks said. Two of the diplomats said Malta had also raised an objection. Slovakia's government has said it will not approve the sanctions before the country receives more guarantees that it would not be harmed by a separate EU plan to phase out Russian gas by the end of 2027. Those phase-out plans need to be approved in the EU by a reinforced majority of countries, meaning Slovakia alone cannot veto them. However, sanctions require unanimity. "We consider this (Russian energy phase-out) proposal to be a sanction and therefore naturally link it to the proposal for the ... package of sanctions," Fico said, in a letter to European Commission President Ursula von der Leyen released by his office on Wednesday. "We therefore expect that the vote on the 18th package can only take place after a substantial part of the risks... in the area of gas supplies from 2028 have been resolved." The sanctions would be the EU's 18th package of such measures against Russia over its 2022 full-scale invasion of Ukraine. The Commission, the EU's executive arm, had sought to win Slovakia's support on Tuesday in a letter saying it would work to address its concerns. Fico, in his reply, said talks should continue in order to clarify commitments the Commission would undertake. Slovakia continues to import Russian energy and often takes pro-Russian views on Ukraine. It argues that quitting Russian gas could cause shortages, raise prices and transit fees, and lead to damage claims from Russian supplier Gazprom. Fico said on Tuesday the best solution would be an exemption in the Russian energy phase-out for Slovakia to allow it to fulfill its contract running until 2034. REUTERS
