Economy

Bessent's interest rate move could make it harder for the Fed

US Treasury Secretary Scott Bessent's attempt to push down long-term market rates could make it harder for the US central bank to make interest rate decisions, according to experts Bloomberg spoke to. Lower long-term rates make it cheaper to borrow, which could stimulate the economy and increase the need for a rate hike.

- In theory, it makes the market's signals more difficult to interpret for the Federal Reserve, says Wolfe Research's chief economist Stephanie Roth.

At the same time, critics say that the buybacks do not solve the basic problem: the US's rapidly growing national debt, which has now exceeded $40,000 billion. 

Crypto market
Authority on Clarity Act: "The rules will be tightened regardless"

The US crypto industry will get clearer market rules even if Congress fails to pass the Clarity Act bill. This is what the head of the regulatory authority CFTC, Michael Selig, told Bloomberg.

– We can do it through rules, we can do it through laws.

The Clarity Act could give the CFTC primary responsibility for overseeing digital assets, but it has stalled in the Senate. Selig believes that the agency has sufficient authority to act on its own if the legislation is not put in place.

The tariff crisis  Trump's tariff policy
China removes tariffs on Swiss goods

Switzerland and China have agreed on an agreement that makes 99.8 percent of Swiss exports to China duty-free.

Watches, pharmaceuticals and precision instruments are covered, among other things.

While the US has tightened its tariff policy, China is trying to strengthen ties with Europe in the rivalry for global influence.

Chinese economy
Chinese real estate magnate gets life in prison

The founder of the now-collapsed real estate company Evergrande gets life in prison and all his assets are confiscated. This is reported by Reuters.

Hui Ka Yan, as the company's founder is called, made an unlikely journey from severe poverty to becoming Asia's second richest man. But when the loan crisis in his real estate company became a fact in 2021, Evergrande became a symbol of the entire real estate crisis in China.

Hui Ka Yan has pleaded guilty to eight charges, including fraud and bribery.
 

Swedish inflation
Erik Thedéen: Sweden is in a growth phase

The Riksbank's economists now feel more confident than before that the Swedish economy is in a growth phase. This is what Riksbank Governor Erik Thedéen said at a press conference after the interest rate announcement.

- This is driven not least by industry, which has a strong economic development and a very strong order intake, which indicates that the development will continue to be good during the autumn.

At the end of the second quarter, it also seems that consumption has increased, says Thedéen.

Today, the Riksbank left the interest rate unchanged at 1.75 percent.

 

Latest news

Trump's USA  The President's Team
Trump's Assistant Natalie Harp Lacked Security Clearance

Donald Trump's assistant Natalie Harp, who has been the subject of much discussion in recent days, worked in the White House without a security clearance for more than a year, sources tell MS Now.

According to the information, Harp has been offered security clearance several times but declined it for unclear reasons. Only when Trump personally urged her did she agree to begin the background check.

This is just one of many red flags that have been raised internally about Harp since Trump's return to the White House. In other media sources have warned that the assistant and Trump have an unusually close relationship.

The relationship came under scrutiny when Democratic Georgia Senator Jon Ossoff said in a recent speech that Trump does not want to do his job, but only "build his ballroom and travel around with Natalie".

Political situation in Cameroon
Cameroon's president has appeared – after 73 days

Cameroon's 93-year-old President Paul Biya has returned home after being missing for 73 days. Reuters reports.

Biya left Cameroon on June 7 for what his cabinet describes as a "short-term private stay in Europe". He has not been seen in public until today.

When the president appeared at the airport, he got off a chartered flight from Geneva in Switzerland. His absence caused speculation about his health and ability to govern the country.

- It makes no difference whether he is here or over there. He does nothing when he is here, opposition leader Prosper Nkou Mvondo said, according to TT.

Drug Development
Professor: “Exciting – this is the future”

Experts are cheering the new results from a study on a personalized mRNA vaccine against skin cancer. The risk of relapse was reduced by 49 percent and the risk of spread to other organs by 59 percent, according to figures published by the companies Moderna and Merck on Wednesday.

“This is very exciting, this is the future,” says Matti Sällberg, professor of biomedical analysis at Karolinska Institutet, to SvD Näringsliv.

A number of Swedish patients have participated in the study. Lars Ny, professor of immuno-oncology at Sahlgrenska University Hospital, has been their responsible physician.

“This is big news. We have been on the pump so many times with similar treatments. This is precision medicine at its best,” he says. 

Nord Stream sabotage
Nord Stream suspect arrested during filming

A Ukrainian man suspected of involvement in the Nord Stream sabotage was arrested during the filming of a Hollywood film about the sabotage, reports the German LTO.

The film stars actors Adrien Brody and Sean Penn. The suspect, Volodymyr Zhuravlev, worked as an advisor for the film, according to media reports.

According to German prosecutors, Zhuravlev is a trained diver who helped place explosives at the natural gas pipelines.

Middle East Crisis

West Bank
Israel moves forward with condemned plan for West Bank

Israel is moving forward with the internationally condemned plan to build over 1200 homes in a new settlement in the occupied West Bank near Jerusalem, several media outlets report.

The new settlement, which is planned to be located in the E1 area near Jerusalem, would divide the West Bank in two. It would make a contiguous Palestinian state impossible, writes CNN.

France, Italy, Britain and Germany condemn the project in a joint statement, and urge Israel to withdraw the decision.

Critics believe that the settlement is being built to undermine the two-state solution. When the plan was approved last year, Israel's far-right Finance Minister Bezalel Smotrich said that "the Palestinian state is being erased - not with slogans, but with action". 

Gaza War
Hind's Family: Investigation Seeks to Justify Murder

Yesterday, Israel decided to open a criminal investigation into the shootings that killed five-year-old Hind Rajab and her family. The girl's grandmother said in an interview that she was surprised by Israel's decision.

"But for us, it is not an admission, but rather an attempt by the Israeli army to justify to the world how they executed Hind," said the grandmother, who is also named Hind Rajab.

She said Israel will claim it was a mistake and that the soldiers will be prosecuted. She stressed that the family does not trust the Israeli justice system.

 

Political situation in Brazil

US turns its attention to Brazil in the hunt for metals

In the hunt for rare earth metals, countries such as the US and Australia are starting to see Brazil as an alternative to China. This is reported by AP, referring to a review of mining permits.

The number of applications for mining permits has skyrocketed in the past three years, and a large proportion comes from foreign mining companies.

The surge comes after China restricted the export of rare earth metals last year.

No Chinese companies have so far applied to mine rare earth metals in Brazil, but according to AP's analysis, they have shown some interest. China's deposits are estimated to be twice as large as Brazil's.

– The challenge today is that China dominates processing and refining, says Brazilian lawmaker Zé Silva, who wants to legislate for foreign mining companies to process rare earth metals in Brazil.

Extraction of rare earth metals could become a threat to the Amazon

Brazil has relatively large deposits of rare earth metals, and countries such as the United States and Australia are increasingly applying to extract them. This is reported by the AP in collaboration with Reporter Brasil.

But mining, which in some cases can take place near protected areas in the Amazon rainforest, carries risks for the environment and climate.

The federal government has discussed measures to speed up the approval of permits. This has been criticized by indigenous groups.

“The rights of indigenous peoples are not negotiable. This must be clear to anyone who wants to discuss mining on indigenous lands,” Alcebias Sapará of the interest group COIAB tells Reporter Brasil.

 

Massive Russian Strike. Three Factions Fight For Control of Ukraine

The Duran

 

 

Economic D-Day Against Iran as US Hits $40 Trillion Debt. Russia Dominates Air, Land & Sea

Alex Christoforou

 

Russia Massive Kiev Strike More Coming; Orekhov Troops Panic; Dobropilia Falling; Ukraine Crisis

Alexander Mercouris