Churchill descendant reads prayer for peace at VE-day anniversary service
Alexander Churchill, the 10-year-old great-great-grandson of Winston Churchill, led a prayer at a Service of Thanksgiving at Westminster Abbey to commemorate the 80th anniversary of Victory in Europe Day.
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Globe and Mail
an hour ago
- Globe and Mail
Premarket: World shares climb, dollar eases ahead of U.S.-China talks
An Asia stocks rally lifted world indexes to record highs on Monday, and the U.S. dollar pared recent gains ahead of talks in London aimed at mending a trade rift between the United States and China. MSCI's broadest index of world shares climbed 0.2 per cent to a record high of 893.88, as European indexes steadied and Asian markets closed higher. The Japanese Nikkei closed almost 1 per cent higher, China's blue-chip CSI300 Index climbed roughly 0.3 per cent, while the Shanghai Composite Index gained 0.4 per cent. Top trade representatives from Washington and Beijing are due to meet for talks expected to focus on critical minerals, whose production is dominated by China. 'Trade policy will remain the big macro uncertainty,' said Kyle Rodda, a senior financial market analyst at 'Signs of further momentum in talks could give the markets fresh boost to kick-off the week.' U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent Washington in talks with China, U.S. President Donald Trump said in a social media post. China's foreign ministry said Vice Premier He Lifeng will be in Britain for the first meeting of the China-U.S. economic and trade consultation mechanism. Wall Street stocks had closed sharply higher on Friday after the closely watched monthly U.S. jobs data eased concerns about damage to the world's biggest economy from Mr. Trump's unpredictable tariff regime. Sentiment was also weighed down by a standoff in Los Angeles that led to Mr. Trump calling in the California National Guard to quell demonstrations over his immigration policies. The dollar fell 0.5 per cent against the yen to 144.09, trimming its 0.9-per-cent jump on Friday. The European single currency rose 0.2 per cent to $1.1422. Sterling traded at $1.3568 , up almost 0.4 per cen=t. U.S. job growth slowed in May by less than had been forecast, data showed on Friday. But dour economic readings from China added to evidence the trade war is taking a toll. China's export growth slowed to a three-month low in May, while factory-gate deflation deepened to its worst level in two years, separate reports showed on Monday. Attention now turns to U.S. inflation data on Wednesday that may adjust expectations for the timing of any rate cuts by the Federal Reserve. The Fed is in a blackout period ahead of its June 18 policy decision. 'Markets have entered a tactical pause following a strong May, but beneath the surface, fragilities are building,' said Bruno Schneller, managing director at Erlen Capital Management, noting that the U.S. CPI release is expected to show another rise, signaling that inflation remains sticky. 'While this may offer some near-term support for the U.S. dollar, broader macro dynamics – notably fiscal expansion, rising structural deficits, and political unpredictability – are increasingly clouding the outlook for both rates and currencies,' he said. Gold rose around 0.35 per cent to US$3,322 per ounce after a 1.3-per-cent fall on Friday. U.S. crude fell 16 cents to US$64.42 a barrel following a 1.9-per-cent surge late last week. Reuters
CTV News
15 hours ago
- CTV News
Germany plans rapid expansion of outdated bunkers amid fears of Russian aggression
A Cold War-era former West German government bunker near the town of Bad Neuenahr-Ahrweiler, Germany, is pictured on April CNN Newsource Germany's aging and decrepit bunker network is in need a major overhaul, according to the head of the federal agency tasked with nationwide civil protection in case of an attack. The Federal Agency for Civil Protection and Disaster Relief (BBK) President Ralph Tiesler said in an interview with popular German newspaper Sueddeutsche Zeitung, 'For a long time, there was a widespread belief in Germany that war was not a scenario we needed to prepare for. That has changed. We are concerned about the risk of a major war of aggression in Europe.' Tiesler's words represent a real fear, echoed across Europe, that Russia could try to mount an attack on Europe again within four years. That timeframe is widely regarded as the minimum period Russia would need to rearm after fighting a bloody and long campaign in Ukraine. Germany only has 580 bunkers, many of them not operational, the newspaper report said. That number is down from nearly 2,000 that existed during the Cold War. Just 5% of the German population would currently be able to seek shelter in the event of an attack, Sueddeutsche Zeitung reported. Germany's population is about 83 million people. The civil protection agency chief said that he will upgrade tunnels, metro stations, underground garages and basements of public buildings to 'quickly create one million shelter spaces,' as well as expand the nation's siren and notification systems. Tiesler said his agency will be presenting a full plan for the revamp and expansion in the summer but added that funding still needed to be secured. 'New bunker systems with very high protection requirements cost a lot of money and time,' said Tiesler. He noted that the BBK will likely require 'at least' 10 billion euros ($11billion) in the next four years and a further 30 billion euros ($34 billion) in the following 10 years to complete the overhaul. There is some cause for optimism, though, for the German agency. Friedrich Merz, before officially becoming chancellor, managed to unlock half a trillion euros ($570 billion) in spending for Germany's defense, some of which the BBK would be eligible to receive. However, given the scale of the task of updating the German armed forces the allocation of money may be prioritized elsewhere. Merz recently vowed to make Germany's army the strongest in Europe, but in order to meet that pledge, he will be required to spend huge sums of money to modernize, train and equip soldiers. A report released earlier this year from the parliament's armed forces commission pointed out that the German army has 'too little of everything.' It has long been underfunded, and much of the basic infrastructure of the army, including barracks, is well below standard, the Bundestag report said. It also comes as the army struggles to meet recruitment targets. In 2018, Germany committed to boosting its standing forces to 203,000 by 2025 — a target date that was later revised to 2031. The current standing size of the Germany army is just 181,000. Merz's government is mulling the possibility of introducing mandatory military service. The issue of manpower also concerns Tiesler and the BBK. 'We lack personnel in an emergency,' he told the newspaper Sueddeutsche Zeitung. 'Perhaps we need a mandatory military service or a voluntary civil defense service… One that allows the choice between civilian and military service for the country,' he said.
Globe and Mail
21 hours ago
- Globe and Mail
Pope Leo criticizes surge of nationalist political movements
Pope Leo XIV criticized the surge of nationalist political movements in the world as he prayed Sunday for reconciliation and dialogue – a message in line with his pledges to make the Catholic Church a symbol of peace. The Pope celebrated Sunday Mass in St. Peter's Square in front of tens of thousands faithful, and asked the Holy Spirit to 'break down barriers and tear down the walls of indifference and hatred.' 'Where there is love, there is no room for prejudice, for 'security' zones separating us from our neighbors, for the exclusionary mindset that, tragically, we now see emerging also in political nationalisms,' the first American pontiff said. He did not name any specific country or politician. Leo also recalled the words of late Pope Francis, who – on the feast of Pentecost in May 2023 – observed that in our world 'we are all connected, yet find ourselves disconnected from one another, anaesthetized by indifference and overwhelmed by solitude.' The pope also condemned wars, which 'are plaguing our world,' and asked the Holy Spirit for 'the gift of peace.' 'First of all, peace in our hearts, for only a peaceful heart can spread peace in the family, society and international relations,' Leo said, then prayed for reconciliation and dialogue wherever there is war in the world. Soon after becoming pope, Leo pledged to work for unity and peace. His first message, 'Peace be with you all,' set the importance of peace as a pillar of his papacy. He has also appealed for a genuine and just peace in Ukraine and a ceasefire in Gaza.
