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CTV News
20 minutes ago
- CTV News
Netherlands bans far-right Israeli ministers as EU considers sanctions over Gaza
Far-right Israeli lawmakers Itamar Ben Gvir, centre, and Bezalel Smotrich, right, attend the swearing-in ceremony for Israel's parliament, at the Knesset, in Jerusalem, Nov. 15, 2022. (AP Photo/ Maya Alleruzzo, Pool, File) THE HAGUE, Netherlands — The Netherlands has banned two far-right Israeli ministers from entering the country and the European Union has proposed suspending Israel from a lucrative tech investment program as frustration mounts over worsening conditions in Gaza. The ban targets hard-line National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich, key partners in Prime Minister Benjamin Netanyahu's coalition. It was announced in a letter sent late Monday by Dutch Foreign Minister Caspar Veldkamp to lawmakers along with other measures, declaring 'The war in Gaza must stop.' The pair are champions of the Israeli settlement movement that supports continuing the war in Gaza, facilitating what they call the voluntary emigration of its Palestinian population and building Jewish settlements. Britain, Australia, Canada, New Zealand and Norway imposed financial sanctions on the two men last month. EU considers sanctions on Israel's science and tech access The European Commission on Monday proposed partially suspending Israel's access to a lucrative science and technology program. The European Parliament could call a vote to cut off Israel's access to the investment arm of the European Innovation Council. To pass, the vote would need 55% of the bloc's 27-member nations. The 900-million-euro investment program is focused on small businesses and 'disruptive innovations' that have 'potential dual-use applications, such as in cybersecurity, drones, and artificial intelligence,' the commission said in a statement. It said the partial suspension of Israeli companies from applying for grants or equity investments worth 200 million euros annually is a targeted and reversible action and keeps intact Israel's access to roughly two-thirds of the program that is for civilian use. The commission found Israel's military campaign in Gaza breached terms of a bilateral deal between Brussels and Israel known as an Association Agreement, according to senior officials tasked with communicating for the commission who were not authorized to speak publicly. European countries pressure Israel to let in more aid Europe has widely soured on Israel over Gaza. Countries including Ireland, Spain and the Netherlands have sought to aggressively pressure Israel to let in more aid and cease military operations. Israel has yet to reach the six points agreed in a new aid deal with the EU, which include adequate amounts of daily trucks allowed or newly opened border crossings, according to senior officials. EU aid teams have been prevented from entering Gaza despite recent humanitarian pauses. The suspension is one of 10 options presented by the commission to member states. Other steps could be suspending an aviation agreement, blocking imports from settlements and curtailing travel for Israelis in the visa-free zone known as Schengen, according to a leaked document seen by The Associated Press and verified by two EU diplomats. Like the Netherlands, other nations could act on their own to sanction specific companies or individuals in Israel or the occupied West Bank. Pressure has been mounting on the Dutch government, which is gearing up for elections in October, to change course on Israeli policy. Last week, thousands demonstrated at train stations across the country, carrying pots and pans to signify the food shortage in Gaza. The government also will summon the Israeli ambassador to the Netherlands to urge Netanyahu to change course and 'immediately take measures that lead to a substantial and rapid improvement in the humanitarian situation throughout the Gaza Strip,' Veldkamp wrote. Ben-Gvir and Smotrich remained defiant. In a statement on social media, Smotrich said European leaders were surrendering to 'the lies of radical Islam' and Jews may not be able to live safely in Europe in the future. Ben-Gvir said in Europe 'a Jewish minister from Israel is unwanted, terrorists are free, and Jews are boycotted,' but he will continue to act. Israel says Hamas is the reason aid isn't reaching Gaza After international pressure, Israel over the weekend announced humanitarian pauses, airdrops and other measures meant to allow more aid to Gaza, but Palestinians say little or nothing has changed on the ground. The UN has described it as a one-week scale-up of aid and Israel has not said how long the latest measures would last. Israel asserts Hamas is the reason aid isn't reaching Palestinians in Gaza and accuses its militants of siphoning aid to support its rule in the territory. The UN denies aid looting is systematic and says it lessens or ends entirely when enough aid is allowed to enter Gaza. Netanyahu and his former defense minister, Yoav Gallant, are wanted by the International Criminal Court over allegations of crimes against humanity. They are accused of using 'starvation as a method of warfare' by restricting humanitarian aid and of intentionally targeting civilians in Israel's campaign against Hamas in Gaza. Member states of the ICC are obliged to arrest the men if they arrive on their territory. Molly Quell And Sam Mcneil, The Associated Press McNeil reported from Brussels. Melanie Lidman in Tel Aviv contributed to this report.
CTV News
27 minutes ago
- CTV News
Tsunami-wrecked Fukushima nuclear plant faces new delay in removing melted fuel debris
The Unit 3 reactor covered with protective housing at the Fukushima Daiichi nuclear power plant is seen in Okuma town, northeastern Japan on Monday Feb. 20, 2025. (AP Photo/Eugene Hoshiko) The Japanese operator of the tsunami-wrecked Fukushima Daiichi nuclear power plant on Tuesday said the start of full-scale removal of melted fuel debris will be delayed for several years until 2037 or later, the latest setback underscoring the challenges ahead. The Tokyo Electric Power Company Holdings, or TEPCO, said it will need 12 to 15 years of preparation before starting full-scale removal of melted fuel debris at the No. 3 reactor. That preparation includes reducing radiation levels and building necessary facilities in and around the reactor. Overall, at least 880 tons of melted nuclear fuel has mixed with broken parts of internal structures and other debris inside the three reactors that suffered meltdowns at the plant following the 2011 earthquake and tsunami. The delay again sets back the 2051 target set by Japan's government and TEPCO for decommissioning the plant. A test retrieval of a tiny sample of melted fuel debris in November was already three years behind, and some experts estimate that the decommissioning work could take more than a century. TEPCO said it plans to stick to the current completion target of 2051. 'Realistically, we are aware of the difficulty (to achieve the target) but we will not drop the goal just yet, as we still don't have a clear work schedule after the full-scale removal begins,' said Akira Ono, chief decommissioning officer at TEPCO. Ono said TEPCO plans to examine preparation work necessary at the two other reactors within the next couple of years ahead of full-scale melted fuel retrieval. After small missions by robots to gather samples, experts will determine a larger-scale method for removing melted fuel, first at the No. 3 reactor. Mari Yamaguchi, The Associated Press
CTV News
28 minutes ago
- CTV News
PayPal lifts 2025 profit forecast above estimates as turnaround picks up pace
The PayPal logo appears on a screen at the Nasdaq MarketSite, in New York's Times Square. (AP Photo/Richard Drew, File) PayPal raised its full-year profit forecast above Wall Street estimates on Tuesday, as the digital payments giant's push to revive growth in high-margin businesses such as Venmo and U.S. checkout begins to pay off. Under CEO Alex Chriss, PayPal has shifted its focus to profitability rather than chasing top-line growth. The company is trying to regain momentum in parts of its business that lost steam after the pandemic-era e-commerce boom faded and competition intensified. PayPal's Venmo, a platform that has become virtually synonymous with peer-to-peer payments in the U.S., posted revenue growth of 20 per cent for the second quarter. The unit's total payment volume growth accelerated to its highest rate in three years. On a per-share basis, the payments firm now expects an adjusted annual profit in the range of US$5.15 to $5.30 versus its prior expectations of $4.95 to $5.10. Analysts on average had expected $5.10, according to estimates compiled by LSEG. But PayPal's shares fell 1.2 per cent before the bell after the company guided to a current-quarter profit that was in line with Street views and roughly flat from a year earlier. PayPal expects third-quarter adjusted profit in the range of $1.18 to $1.22. At the mid-point of $1.20 per share, it matches Wall Street expectations. Transaction margin dollars - the profit PayPal makes on each transaction after covering direct costs - grew seven per cent to $3.8 billion in the quarter. The increase reflects an ongoing push to drive higher-margin volumes across the company's branded checkout products and streamline costs tied to unbranded processing. Adjusted operating margins expanded 132 basis points to 19.8 per cent. Margins have been a key source of investor concern in recent years, amid fears that Big Tech rivals such as Apple Pay and Google Pay are chipping away at PayPal's market share. While the company long held a first-mover advantage in digital payments, that edge has diminished, though PayPal has previously pushed back against concerns that its market share is under pressure. Spending holds up Meanwhile, U.S. consumers have continued to spend despite a mix of economic pressures, including persistent inflation and the threat of new trade policies, easing concerns about a potentially sharp pullback in transaction volumes. Analysts say some shoppers are also buying early to avoid expected price hikes from tariffs later this year. That resilience has helped PayPal and major U.S. lenders sidestep early worries that trade tensions could weigh on spending in the second quarter, even as lower-income households show signs of strain. Total payment volume - which tracks the total value of transactions handled by the platform - increased six per cent to $443.5 billion. Adjusted profit came in at $1.40 per share in the three months ended June 30. That compares with $1.19 per share a year earlier. PayPal's second-quarter net revenue climbed 5% to $8.3 billion. (Reporting by Manya Saini in Bengaluru; Editing by Maju Samuel)
