Trump's Fed Threat Risks Price Stability, Incoming ECB Rate Setter Says
The former economy minister — who's set to replace Robert Holzmann on the European Central Bank's Governing Council in September — said Trump's administration is disregarding Fed independence based on dubious legal reasoning and with the clearly stated desire to reduce US debt costs.
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22 minutes ago
- Yahoo
Diogo Moreira to join Honda ahead of 2026 MotoGP debut
Diogo Moreira is finalising the details of an agreement that will see him step up to MotoGP next season, riding a Honda for the LCR team, has move, which will promote the 21-year-old Brazilian – currently battling for the Moto2 world championship with Italtrans – to the premier class, is expected to be completed in the coming days, most likely at this weekend's Hungarian Grand Prix. Moreira's arrival at LCR will mean the departure of Somkiat Chantra, who has struggled to make an impact since his MotoGP debut earlier this year and remains sidelined through injury. understands that the Thai rider's exit will also bring an end to Japanese petroleum company Idemitsu's role as title sponsor of Lucio Cecchinello's team on that side of the garage. That entry's established Asian market connection will thus be severed as MotoGP welcomes a South American rider back to the grid. But Moreira dislikes suggestions that his nationality would be a major factor in his signing. 'If I move up to MotoGP, it's because I'm performing well; [my nationality] doesn't matter. It will be because I twist the throttle, not because of the [Brazilian] flag,' Moreira said on Sunday, shortly after dominating the Austrian Grand Prix to claim his second Moto2 victory of the season. He hinted that his known ties with Yamaha's Brazilian branch amounted to little more than a practical arrangement: 'They simply lend me the bikes for training, and I return them at the end of the season." As reported on Monday, Moreira had two offers on the table for a MotoGP seat in 2026 – one from Honda and another from Yamaha. While Yamaha initially appeared to have taken the lead by lining up the Sao Paulo native for its satellite Pramac team, where he would have partnered Toprak Razgatlioglu, Honda launched a late offensive in recent days that ultimately convinced Moreira to side with the golden-winged marque, which has committed to giving him factory rider status. Jack Miller's future at Pramac is looking more secure after Moreira opted for Honda understands that Honda's proposal includes a long-term deal, likely spanning three years, with 2026 regarded as a transitional season. The aim is for the Brazilian to be fully up to speed in MotoGP by the time the new technical regulations come into force, when 850cc prototypes will replace the current 1000cc machines. Strategically, the move makes sense for Honda both from a sporting perspective – Moreira is currently just 35 points adrift of the Moto2 championship leader – and from a promotional standpoint, with the championship's return to Brazil looming in 2026. The decision also has wider repercussions. Chief among them, Jack Miller now looks increasingly likely to extend his deal with Yamaha and remain with Paolo Campinoti's Pramac squad, at least through 2026. The Australian, who had been understood to be in a battle with team-mate Miguel Oliveira for the one available Pramac ride, now appears to have a stronger case than the Portuguese. Oliviera, who initially signed a two-year contract through to the end of 2026, may find himself vulnerable to a performance clause working against him after missing several rounds due to injury. understands that Miller has also been courted by both Honda and Ducati for a switch to WorldSBK. To read more articles visit our website.
Yahoo
22 minutes ago
- Yahoo
Gerry Adams donates to ‘good causes' after BBC pays 100,000 euro damages
Gerry Adams has said he has made donations to 'good causes' after the BBC paid the former Sinn Fein president 100,000 euro (£84,000) in defamation damages. The broadcaster lost a defamation case earlier this year after Mr Adams took them to court over a 2016 episode of its Spotlight programme and an accompanying online story. They contained an allegation that Mr Adams sanctioned the killing of former Sinn Fein official Denis Donaldson. Mr Adams denied any involvement. In May, a jury at the High Court in Dublin found in his favour and awarded him 100,000 euro (£84,000) after determining that was the meaning of words included in the programme and article. Johnsons Solicitors, which represented Mr Adams in his action, confirmed that the BBC has discharged the order of the court in relation to the compensation to their client. Mr Adams said he intended to donate any damages awarded to good causes. The law firm said donations have been made to 'Unicef for the children of Gaza', local GAA organisations, a support group for republican prisoners and their families called An Cumman Cabhrach, to the Irish language sector, to the 'homeless and Belfast based-youth, mental health and suicide prevention projects' and others. The BBC, which was found by the jury not to have acted in good faith nor in a fair and reasonable way, was also ordered to pay the former Sinn Fein leader's legal costs, potentially in the order of millions. However, it is understood the final amount of costs have yet to be determined.
Yahoo
22 minutes ago
- Yahoo
US Roasters Shun Coffee From Brazil After 50% Tariffs Kick In
(Bloomberg) -- American coffee buyers are shunning fresh deals with top grower Brazil after President Donald Trump's 50% tariff took effect this month. Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone A Photographer's Pipe Dream: Capturing New York's Vast Water System A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Why New York City Has a Fleet of New EVs From a Dead Carmaker Princeton Plans New Budget Cuts as Pressure From Trump Builds Companies are avoiding new contracts and looking for wiggle room in existing ones to avoid having to pay the higher levies, according to a dozen brokers, roasters and exporters contacted by Bloomberg. Some US buyers are asking for extended shipping timelines in the hopes that tariffs may be eased later, according to Brazil's exporter group Cecafé. Deals between the US and Brazil have 'totally stalled,' said coffee broker Thiago Cazarini. 'No one's really buying anything.' About a third of America's unroasted coffee typically comes from Brazil, a country Trump has been immersed in a trade conflict with, in part due to what he calls the 'politically motivated persecution' of former Brazilian President Jair Bolsonaro. A political ally of Trump's, Bolsonaro faces trial for an attempted coup against the government of President Luiz Inácio Lula da Silva, who defeated Bolsonaro in a 2022 election. Trump first announced 10% tariffs on Brazil and other countries in April, before imposing 50% levies on the South American agricultural power that kicked in on Aug. 6. One roaster, Florida-based Zaza Coffee, gets about a quarter of its beans from Brazil and currently has 14 to 16 weeks left of those supplies. After the beans are used up, the company is looking to replace them with coffee from Central America, Peru and Mexico, said JP Juarez, Zaza's director of coffee innovation. 'We have a certain window within this 14 weeks that maybe something can change in the case of the tariffs,' Juarez said. But 'in the scenario of keeping the tariffs at those levels, probably we are not going to ask for Brazilian coffee.' Many roasters are reluctant to change longstanding blends on what could turn out to be a short-term policy. The country's dominant share makes its beans nearly irreplaceable, with few alternative origins able to match its volumes, according to Christian Wolthers, chief executive officer of Florida-based importer Wolthers Douqué. Roasters may also not want to alter the profile of the blends customers are accustomed to. Brazil is the world's top exporter of arabica, which is considered smoother than robusta and is the only bean used by coffeehouse chain Starbucks Corp. 'Roasters have blends that they like to keep as consistent as they can in any given cost environment,' Rabobank analyst Jim Watson said. Even so, coffee trade between the US and Brazil may continue to slow, in line with a trend seen so far this year. The Cuban-style coffee brand Café Aroma is among the roasters 'working to import coffees where the applicable tariff has more predictability,' vice president Bernadette Gerrity said. It's also buying more coffee futures to help protect against higher costs. Colombia, Vietnam and Honduras are the next biggest sources of coffee for the US in terms of quantity, according to the Department of Agriculture. Vietnam primarily produces robusta, a cheaper variety that most Americans only know from instant coffee. US imports of those beans could climb to 'historical highs' as tariffs on the nation are only 20%, according to Laleska Moda, market intelligence analyst at Hedgepoint Global Markets. The US could also boost imports from Indonesia and Uganda, which have substantially lower tariffs than Brazil, she said. Limited offers for Honduran coffee are already priced 30 to 40 cents per pound above the futures market, while Colombian exporters haven't been offering prices at all in case the market surges later, said Tomas Araujo, a senior trader at StoneX. A shift away from Brazilian beans in the US would likely divert more of those supplies to Europe, offering relief for buyers there that are seeking traceable beans to comply with the bloc's upcoming deforestation rules, according to Dave Behrends, head of trading at Sucafina SA. More beans would also go to the growing coffee market in China, leaving US roasters facing a pricier market. While New York-based Gregorys Coffee is lucky to have had its last shipment from Brazil arrive on Aug. 2 before the higher tariffs kicked in — leaving it supplied until mid-November — it will eventually need to import another batch it already contracted at the higher rate, said CEO Gregory Zamfotis. The company, as well as other smaller roasters, are bracing for the impact. 'Absorbing a 10% tariff is nearly impossible for a small business to do entirely on its own,' said Daria Whalen, the director of coffee at San Francisco-based Ritual Coffee Roasters. 'Some of that has to be passed to customers — and 50% feels staggering and insurmountable.' --With assistance from Anuradha Raghu. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Americans Are Getting Priced Out of Homeownership at Record Rates Yosemite Employee Fired After Flying Trans Pride Flag ©2025 Bloomberg L.P. Sign in to access your portfolio
