Swedish spring budget pledges $1.2 bln in extra spending
"The US decision on significantly raised tariffs has caused concern...However, Sweden is on stable economic ground and able to take further action should the need arise," Finance Minister Elisabeth Svantesson said in a statement.
Svantesson had already warned that economic growth would be negatively affected by uncertainty surrounding the effects of on-again, off-again tariffs announced by U.S. President Donald Trump.
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Reuters
an hour ago
- Reuters
Canadian dollar hits a six-day low ahead of pivotal US inflation data
TORONTO, Aug 11 (Reuters) - The Canadian dollar weakened to a six-day low against its U.S. counterpart on Monday, as the greenback notched broad-based gains ahead of a key U.S. inflation report this week and after speculators raised their bearish bets on the loonie to a two-month high. The loonie was trading 0.2% lower at 1.3784 per U.S. dollar, or 72.55 U.S. cents, after touching its weakest intraday level since last Tuesday at 1.3795. The U.S. dollar (.DXY), opens new tab rose against a basket of major currencies, a day before the deadline for Washington and Beijing to strike a tariff deal and the release of U.S. consumer price index data that could help determine whether the Federal Reserve lowers borrowing costs next month. "CAD remains tethered to USD direction," Amo Sahota, director at Klarity FX in San Francisco, said in a note. Recent Canadian data has raised expectations for a Bank of Canada interest rate cut, but slow summer trading has limited the impact on the currency, Sahota said. Canada's economy shed 40,800 jobs in July, giving back some of the substantial gains seen in the prior month, data on Friday showed. Investors see a 36% chance the BoC cuts rates at its next policy decision on September 17, up from 17% at the start of the month. Also on Friday, data from the U.S. Commodity Futures Trading Commission showed that net short positions in the Canadian dollar have increased to 79,420 contracts, the highest since June, from 76,433 in the prior week. The price of oil clawed back some of last week's steep decline, rising 0.5% to $64.18 a barrel. Oil is one of Canada's major exports. Canadian bond yields edged lower across the curve. The 10-year was down nearly one basis point at 3.376%, after earlier touching its lowest level since July 4 at 3.353%.
Reuters
2 hours ago
- Reuters
Kallas says EU will work on 19th Russia sanctions package
BRUSSELS, Aug 11 (Reuters) - European Union foreign policy chief Kaja Kallas said on Monday that the EU will work on a 19th package of sanctions against Russia and warned against concessions to Moscow. "As far as Russia has not agreed to full and unconditional ceasefire, we should not even discuss any concessions," Kallas said in a statement. "The sequencing of the steps is important. First an unconditional ceasefire with a strong monitoring system and ironclad security guarantees," she said, adding that "we will work on a 19th package of sanctions".
Scottish Sun
3 hours ago
- Scottish Sun
‘I will tell Putin to end this war': Trump reveals first details of showdown Putin talks & hints Zelensky could still go
It comes as a top Putin ally urged the tyrant to end the war TIME FOR PEACE 'I will tell Putin to end this war': Trump reveals first details of showdown Putin talks & hints Zelensky could still go Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) DONALD Trump has revealed details for the highly-anticipated crunch talks with Vladimir Putin in Alaska on Friday. The US President described the upcoming talks as a "feel-out meeting" - and said that his Russian counterpart wants to get the war "over with". Sign up for Scottish Sun newsletter Sign up 7 Trump has revealed details for his meeting with Putin on Friday Credit: Reuters 7 Trump and Putin are set to meet on US soil on Friday to discuss the end of the Ukraine war 7 Locals witness the devastation of residential buildings bombed by Russian forces in Ukraine on August 10 Credit: Getty 7 He also told reporters that he would tell Putin: "You've got to end this war, you've got to end it." The historic showdown scheduled for August 15 will mark the first time the pair have met since June 2019, with the White House still weighing up whether or not to invite Ukrainian President Volodymyr Zelensky. Trump is also set to dial in with European leaders including Zelensky on Wednesday for an emergency summit in preparation for the Putin meeting. He said he would call European leaders "who I get along with very well" after leaving the talks. Trump said on Monday: "I've said that a few times and I've been disappointed because I'd have a great call with him [Putin] and then missiles would be lobbed into Kyiv or some other place." He added: "I'd like to see a ceasefire, I'd like to see the best deal that could be made for both parties, it takes two to tango." It comes as a top Vladimir Putin crony urged the tyrant to end his war in Ukraine - just days before crunch talks with Donald Trump, reports say. The Deputy Head of Putin's administration, Dmitry Kozak, has reportedly encouraged the Russian leader to halt the invasion and begin peace talks. It comes after sources close to the US President said that they were "very hopeful" Ukraine's leader would be invited to the highly-anticipated talks. One senior administration official told NBC News that a trilateral meeting remains "absolutely" possible. Could wanted war criminal Putin be ARRESTED when he meets Trump? How Vlad will use loophole to escape cuffs in Alaska Another official briefed on White House conversations said: "It's being discussed." It is believed that no official invite has been talked about with Kyiv as of yet. A senior White House official explained: "Right now, the White House is focusing on planning the bilateral meeting requested by President Putin." Zelensky has already been adamant that he must be involved in any peace talks as they directly impact on the future of his country. Speaking last week, the brave leader said any pact struck without Kyiv's involvement would be "stillborn decisions against peace" and would fail before they even began. "Any decisions that are against us, any decisions that are without Ukraine, are at the same time decisions against peace," he said. "They will not achieve anything." His powerful stance has now been echoed by European leaders. Sir Keir Starmer and the leaders of France, Italy, Poland, Finland and the EU all issued a stark warning saying there can be no peace without Ukraine. 7 Top Putin aide Dmitry Kozak (L), has reportedly urged Putin to end the war Credit: Getty 7 Ukrainian anti-drone units down a Russian UAV in Donetsk, Ukraine Credit: Getty Longtime Putin ally Kozak, 66, is said to have stepped out of line after years of being secretly opposed to the war, the New York Times reported. He is believed to have presented a plan to end the fighting, which even included proposals for internal reforms. Before the full-scale invasion in 2022, Kozak warned the Russian president about the risks of fierce Ukrainian resistance. He also tried but failed to negotiate a working truce after the war started. Western officials claimed that Kozak continued to contact them over the last few years, seeking arguments that might sway Putin. The top Russian aide managed the integration of Crimea into Russia after it was annexed in 2014. Who is Dmitry Kozak? by Harvey Geh LONGTIME Putin ally Dmitry Kozak rose from a St. Petersburg prosecutor to deputy head of Putin's administration through close ties with the Russian President. Born in what was Soviet Ukraine, he served in GRU special forces before training as a lawyer. He has managed crucial projects like the 2014 Sochi Winter Olympics and the integration of Crimea after it was annexed. In 2020 he became Russia's lead envoy to Kyiv, negotiating over Donbas and Transnistria. Kozak privately warned Putin that invading Ukraine was a mistake, and after proposing a peace deal. He has been sidelined since his secret opposition to the war. Many of his duties have been slowly handed off to his de-facto replacement Sergei Kiriyenko. Because of his central role in Crimea's annexation and Ukraine destabilisation, Kozak faces sanctions from the UK, EU and US. He also managed preparations for the 2014 Winter Olympics in Russia. But the top official has lost much of his political influence since Putin's bloody invasion. The call with European leaders on Wednesday has been organised by German Chancellor Friedrich Merz as European leaders desperately scramble to get their message across to Trump. The online summit will reportedly focus on how to put pressure on Russia, how to deal with Ukrainian territories seized by Russia, security guarantees for Kyiv and the prospect of potential peace talks. European leaders have made it clear that Putin must first agree to a ceasefire before any peace talks can take place.
