NATO leaders endorse historic plan to boost defense spending
NATO leaders agreed to increase defense spending to 5% of GDP and renewed their commitment to mutual defense in an historic move that comes at the time of an increasingly belligerent Russia.
The decision from the North Atlantic Treaty Organization's 32 members at their high-stakes summit in The Hague is a major win for Donald Trump who has repeatedly lambasted his European allies for underspending on security. Even on his way to the summit, the US president appeared to question the key tenet of the alliance known as Article 5, which requires members to defend each other from attack.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Global News
23 minutes ago
- Global News
Richmond mayor defends grabbing news camera, dodging question
Richmond Mayor Malcolm Brodie is defending his actions on Tuesday when he grabbed a Global News camera and avoided answering a question. Brodie was at the opening of a playground in Steveston when a Global News cameraman attempted to ask him a question about a European junket taken by employees of the Olympic Oval and the city. Brodie seemed to avoid the question at the playground event, eventually turning around before grabbing the camera and continuing to walk away. Speaking on CKNW on Wednesday morning, Brodie said it was an 'unfortunate situation.' 'I said that I wasn't going to do the interview at that time,' Brodie told CKNW host Scott Shantz. 'And then he went away. Then he came back, again, I'm in the middle of a group of people with social conversation. It was a really a nice, very nice family event. And then, he just insisted that he was going to have an interview. And I said, no. Story continues below advertisement 'And the camera was up quite near my face. Again, this is all kind of a blur, but the way I remember it is the camera up near my space and I had said no and frankly in a civil society I expect that to be respected after I've given literally hundreds of interviews with Global and other news outlets over the years.' 2:08 Many questions after Richmond Olympic Oval delegation travels to Europe in 2022 Brodie said he was reacting to the camera being 'in his face' and expected that an interview would be prearranged and not a surprise question at a different event. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'It was a family event, well attended, and I had indicated that I was unprepared to do an interview at that time,' Brodie said. 'I don't think, from my point of view, it's unreasonable to expect that if you wish to do an interviews that there would be, you know, just because I'm standing there doesn't give the right for somebody to come up and put his camera in your face and demand answers.' Story continues below advertisement Brodie is sitting down with Global News reporter Jordan Armstrong on Wednesday morning. 'I have done countless interviews over my time and I always try and answer as best I can and provide as much detail as I am able to do,' he added. –with files from Catherine Urquhart
Winnipeg Free Press
36 minutes ago
- Winnipeg Free Press
Europeans angry with Musk still aren't buying his cars as Tesla sales drop for fifth month in a row
NEW YORK (AP) — Europeans still aren't buying Teslas with figures out Wednesday showing sales plunged for a fifth month in a row in May, a blow to investors who had hoped anger toward Elon Musk would have faded by now. Tesla sales fell 28% last month in 30 European countries even as the overall market for electric vehicles expanded sharply, according to the European Automobile Manufacturers' Association. The poor showing comes after Tesla's billionaire CEO had promised a 'major rebound' was coming last month, adding to a recent buying frenzy among investors. They were selling on Wednesday, pushing the prices down more than 4% in early afternoon trading. Musk had said Tesla was sure to get a boost once the company was done retooling its factories to produce a new version of its biggest seller, the Model Y. But that was finished months ago, and the new models are widely available. Investors are now hoping that a cheaper Tesla expected to be out later year will help reverse the sales decline. Overall, battery electric vehicle sales rose 25% in Europe compared to a year earlier. The market for EVs was particularly strong in Germany, where Musk has angered potential buyers by publicly supporting the far-right, anti-immigrant Alternative for Germany party in elections. Overall EV sales there leapt 45%. China's SAIC Motor was the big winner for the month with its European sales of EVs and other kinds of cars jumping 38%. That has allowed the company to leapfrog Tesla, which a year ago was selling more cars in the region. SAIC sold 18,716 vehicles last month versus Tesla's 8,729. The sales drop for Tesla comes at a crucial time for the company as it launches a test run of its driverless 'robotaxis' service in Austin, Texas. Musk says that if goes well, he expects to introduce the service in several other cities in quick succession and have as many as a million of the automated cabs on roads by the end of the year. Monday Mornings The latest local business news and a lookahead to the coming week. Reviews so far have been mostly good, but the service is limited to a dozen or so cars and some passengers have circulated videos of problems during their rides, including one showing a robotaxi heading down a lane for opposing traffic. Federal traffic safety regulators said Tuesday they were looking into the videos.
Globe and Mail
an hour ago
- Globe and Mail
CVX, XOM, SHEL: Oil Prices Crash 6% as Israel-Iran Ceasefire Takes Hold
Oil prices are down 6% in afternoon trading on June 24 as a ceasefire between Israel and Iran takes hold, and after U.S. President Donald Trump said China can continue buying oil from Iran. Confident Investing Starts Here: Brent crude oil, the international standard, is down 6.31% and trading at $66.98 per barrel, while West Texas Intermediate (WTI) crude oil, the American benchmark, is down 6.36% to $64.16 a barrel. Energy analysts say prices are falling sharply as traders bet that the conflict in the Middle East is winding down. 'China can now continue to purchase Oil from Iran,' Trump said in a post on his social media platform Truth Social. 'Hopefully, they will be purchasing plenty from the U.S., also. It was my Great Honor to make this happen!' The decline in crude prices has leading oil stocks such as Chevron (CVX), ExxonMobil (XOM), and Shell (SHEL) trending lower as well. Reversing Course In May, Trump had threatened to ban any country buying Iranian oil from doing business with the U.S. China purchases the vast majority of the 1.7 million barrels per day that Iran exports, according to market data. Oil prices are at their lowest level since before Israel began striking Iran on June 13. There is now less risk that a major supply disruption will occur in the Middle East and that business will resume as usual in the energy sector. Trump's decision to join Israel's campaign and bomb three key nuclear sites in Iran over the weekend initially triggered fears that Tehran might try to cutoff oil exports from the Persian Gulf in retaliation. Those fears have now subsided, say analysts, sending oil lower. Is CVX Stock a Buy? The stock of Chevron has a consensus Moderate Buy rating among 18 Wall Street analysts. That rating is based on 10 Buy, six Hold, and two Sell recommendations assigned in the past three months. The average CVX price target of $159.50 implies 6.65% upside from current levels.
