Pentagon cancels procuring M10 Booker combat vehicles due to 'current world events'
"The Army will request to reallocate the remaining funds in fiscal 2025 to accelerate fielding of war-winning capabilities and anticipates additional significant savings to be fully realized within the next 18-24 months," the Pentagon said in a statement.
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NEW DELHI, Aug 14 (Reuters) - India's merchandise trade deficit (INTRD=ECI), opens new tab in July stood at $27.35 billion, according to a Reuters calculations based on export and import data released by the government on Thursday. Economists had expected the July trade deficit to be $20.35 billion, per a Reuters poll, compared to $18.78 billion in the previous month.
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Aug 14 (Reuters) - Gold prices edged down on Thursday due to a slight uptick in the U.S. dollar index, although expectations of a Federal Reserve interest rate cut in September limited losses. Spot gold fell 0.3% to $3,346.19 per ounce as of 0848 GMT. U.S. gold futures for December delivery were down 0.4% to $3,393.80. The dollar (.DXY), opens new tab rose 0.04% from an over two-week low against its rivals, making gold more expensive for holders of other currencies. "The marginal reduction in gold since this morning could be just chalked down to a slightly firmer dollar," said Nitesh Shah, commodities strategist at WisdomTree. However, gold continues to see support from increasing signs that the Federal Reserve has room to cut interest rates, Shah added. The likelihood of a Federal Reserve rate cut in September is now seen near 100%, after new data showed U.S. inflation increased at a moderate pace in July and Treasury Secretary Scott Bessent said he thought an aggressive half-point cut was possible given recent weak employment numbers. Non-yielding gold thrives in a low interest-rate environment. Meanwhile, benchmark U.S. 10-year Treasury yields held near a one-week low. Investors are closely watching U.S. economic data scheduled later in the day, including the U.S. Producer Price Index and weekly jobless claims, for further cues on the direction of the Fed's monetary policy. "The rate cuts are very much fairly priced in but towards the end of this year we'll start to see a market movement upwards in gold as concerns around higher indebtedness really start to move the metal higher," Shah added. Meanwhile, U.S. President Donald Trump threatened "severe consequences" if Russia's President Vladimir Putin does not agree to peace in Ukraine but also said on Wednesday that a meeting between them could swiftly be followed by a second that would include the leader of Ukraine. Elsewhere, spot silver lost 0.6% to $38.26 per ounce, platinum edged up 0.1% to $1,341.35 and palladium rose 1% to $1,133.40.
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The beloved US city that lost its magic - as bookings plummet and tourism drops
Known for its bright lights, casinos and wild parties, Las Vegas has been a popular place to visit for years. But recently Sin City has seen a decline in tourists flocking to its colourful streets. Some are blaming the impact of President Donald Trump 's tariffs and trade policies, with travel costs now reportedly rising for tourists visiting the country. Steve Hill, Las Vegas Convention and Visitors Authority president, told KTNV Las Vegas: 'Some of the decisions our administration has made around international relations [have] caused a drop in tourism. 'Our international visitation is flat but is making up for a 20+% drop in tourism from Canada, which is our largest international source of visitation,' Steve added. Now, fewer tourists are filling the usually bustling casinos, restaurants and bars. Meanwhile, Circa Resort & Casino CEO Derek Stevens reportedly blamed the economy and exchange rates. However, the CEO had a brighter outlook and predicted trade agreements will help settle things down. He told Fox News.: 'I think in six months, I would believe that Vegas tourism and our economy overall will be in a much better place.' Robby Starbuck, host of The Robby Starbuck Show, put part of the change down to a shift in generational habits, explaining younger people bet online more, rather than go into casinos. He said: 'Another differentiator is that older generations focused on real-life interaction - while younger generations feel just as content with para-social online experiences. 'The Vegas marketing image is one centred on slots and showgirls, two things young people have no interest in.' Local business are feeling the decline, too. Steakhouse hostess Gloria Valdez, 38, has worked in Las Vegas for 15 years and shared her concerns. She told Time: 'The pandemic was something that was worldwide, and we had the hope that everything would get better. 'We're not sure if and when this is gonna stop.' And cocktail waitress Holly Lang, 47, revealed the Vegas Strip restaurant she works at is seeing a decline in customers. 'We've definitely got a lot less foot traffic and a lot less people gambling,' she said. 'A lot of the tables are empty.' However, there does seem to be some hope for the future, as a $20 million sponsorship agreement has been given the green light from the LVCVA for the Formula One Las Vegas Grand Prix which could bring more visitors..
