Cyberattack on Russia's Aeroflot airline, several flights cancelled, delayed - Here's what we know
The report added that Ukrainian hacker group Silent Crow and Belarusian hacker activist group the Belarus Cyber-Partisans have claimed responsibility for the cyberattack.
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Economic Times
7 minutes ago
- Economic Times
US second quarter GDP growth to reflect tariff turbulence
AP President Donald Trump attends a meeting with Israel's Prime Minister Benjamin Netanyahu in the Blue Room of the White House, Monday, July 7, 2025, in Washington. (AP Photo/Alex Brandon) US economic growth is expected to rebound in the second quarter, analysts said, in a momentary comeback reflecting trade shifts as companies tried to avoid the harshest of President Donald Trump's wide-ranging world's biggest economy is anticipated to expand at an annual rate of 2.5 percent in the April to June period, according to a consensus forecast by marks a reversal of a 0.5 percent decline, annualized, seen in the first three months of the cost pressures from tariffs, among other factors, could later bog down investment and consumption -- a key driver of the US economy. "It's very much distorted by the trade flows and inventory," said Nationwide chief economist Kathy Bostjancic, referring to second quarter growth. At the start of the year, businesses rushed to stock up on products in an effort to avoid Trump's threatened tariff hikes -- but this build-up is now imports surge ahead of tariff hikes in the first quarter led to the largest drag on GDP growth from net exports on record, analysts at Goldman Sachs said in a recent means a bounce back is expected once imports the acceleration is not sustainable, Bostjancic told had raised the idea of across-the-board tariffs targeting trading partners during election campaigning last year, and since returning to the US presidency in January he has rolled out wave after wave of fresh included a 10 percent levy on almost all US partners, higher duties on steel, aluminum and auto imports, as well as separate actions against Canada and Mexico over illegal immigration and illicit fentanyl April, the Trump administration separately took aim at the world's number two economy, China, as Beijing pushed back on US countries ended up imposing tit-for-tat tariffs on each other's products, reaching triple-digit levels and bringing many trade flows to a halt before Washington and Beijing reached a temporary agreement to lower two days of talks in the Swedish capital of Stockholm this week, negotiators from both countries signaled there could be an extension of the truce -- although the final call depends on Trump.- 'Clear deceleration' -Bostjancic expects that underlying activity driving US gross domestic product will be moderating, although not collapsing."The US economy continues to navigate a complex set of crosscurrents, obscuring a clear reading of its underlying momentum," said EY chief economist Gregory Daco in a he added that one trend is evident, which is that "economic activity is decelerating even as inflationary pressures are reemerging.""Tariff-induced cost pressures, persistent policy uncertainty, severely curtailed immigration, and elevated interest rates are collectively dampening employment, business investment and household consumption," Daco are closely eyeing the impact of Trump's tariffs on inflation, with economists warning that the duties could fuel price increases. They expect to learn more from data in the summer of this could impact consumer spending -- a key economic driver."The trend in GDP growth is best analyzed by considering the first and second quarters together," said Samuel Tombs, chief US economist at Pantheon Macroeconomics."The likely average growth rate of about 1.5 percent over these two quarters represents a clear deceleration from the 3 percent rates in the previous two years," he said in a note that the US economy would probably "lose more momentum" in the third quarter, when consumer prices for imported goods likely will rise "adverse consequences" of economic policy uncertainty will also start to materialize when it comes to business investment, Tombs have noted that companies tend to hold off major decisions during times of uncertainty, given the risk of sudden policy shifts."We continue to expect GDP growth to average just 1 percent in the second half of this year," Tombs said.
Time of India
37 minutes ago
- Time of India
'10-day countdown...': Trump threatens tariffs on Russia over Ukraine stalemate
US President Donald Trump said on Tuesday (July 29) that the United States would start imposing tariffs and other measures on Russia "10 days from today" if Moscow showed no progress toward ending its more than three-year-long war in Ukraine. Trump first announced on Monday (July 28) that he was shortening the initial 50-day deadline he set a month ago for action from Moscow, and mentioned a new deadline of 10 to 12 days. On Tuesday, he told reporters he had not heard a response from Russia. Speaking aboard Air Force One, Trump said he was not worried about the potential impact of Russian sanctions on the oil market or prices, vowing to boost domestic oil production to offset any impact. Show more Show less
NDTV
an hour ago
- NDTV
Russia Faces Tariffs In 10 Days If No Progress On Ending Ukraine War, Warns Trump
Washington: U.S. President Donald Trump said on Tuesday that the United States would start imposing tariffs and other measures on Russia "10 days from today" if Moscow showed no progress toward ending its more than three-year-long war in Ukraine. Trump first announced on Monday that he was shortening the initial 50-day deadline he set a month ago for action from Moscow, and mentioned a new deadline of 10 to 12 days. On Tuesday, he told reporters he had not heard a response from Russia. Speaking aboard Air Force One, Trump said he was not worried about the potential impact of Russian sanctions on the oil market or prices, vowing to boost domestic oil production to offset any impact. "I don't know if it's going to affect Russia, because (Russian President Vladimir Putin) wants to, obviously, probably keep the war going," Trump said. "But we're going to put on tariffs and the various things that you put on." The U.S. president, who has in the past spoken about having a good relationship with Putin, has grown increasingly frustrated with Moscow's refusal to agree to a ceasefire. The fresh deadline suggests Trump is prepared to move forward on his threat of sanctions, after previously hesitating on doing so. Speaking in Scotland on Monday, he threatened sanctions on both Russia and buyers of its exports - also known as secondary sanctions - unless progress is made. U.S. Treasury Secretary Scott Bessent told reporters that he raised the issue of secondary sanctions with Chinese officials during two days of bilateral talks this week. He said he told Chinese officials that Beijing could face high tariffs if it continued its Russian oil purchases. In a post on X, former Russian President Dmitry Medvedev, a close ally of Putin, said Trump was playing "a game of ultimatums" that could lead to a war involving the United States. Trump, who is also struggling to achieve a peace deal in Gaza, has touted his role in ending conflicts between India and Pakistan as well as Rwanda and Congo. Before returning to the White House in January, Trump campaigned on a promise to end Russia's conflict with Ukraine in a day.
